The Halcyon Days Of Multiple Offers And TBD Pricing Are Likely Ending
A report from Twin Falls KMVT. “In markets saturated with buyers, like many areas of Idaho, buyers backing away from the market should mean stronger negotiating power and, eventually, lower prices. According to mortgage expert GP Theriot, the market is showing signs of returning to normal after two years of rates and prices unlikely to be repeated. ‘That’s a good thing, we’re getting back to normal. I mean these prices; it was crazy, and people were willing to pay it. Now’s the time, better than ever, for these first-time homebuyers, or anybody, that were frustrated the past twelve months, get in the game now,’ said Therio.”
From KRDO Newsradio. “Jay Garvens of Churchill Mortgage believes despite the higher interest rates, it’s actually a buyer’s market because of the incentives that buyers haven’t had here in years. ‘You can now make an offer on a house and get asking price or $10,000 below. You can have an inspection. You can have an open house,’ he says. Garvens also believes the cost of living in Colorado Springs may never be any lower than it is now. ‘The cost of living in Colorado Springs will never go down. And if you’re having a hard time with debt, and if you’re having a hard time buying a house, you may consider moving to a more affordable community,’ he said.”
The Boston Globe. “Many older residents in Massachusetts who’d like to downsize — and turn over spacious dwellings to younger buyers desperate for room to expand —are finding it difficult, if not impossible. ‘It’s a circular stuck-ness that’s hard on everyone,’ said Newton City Councilor Andrea Kelley, 69, a landscape architect who sold her five-bedroom house five years ago, but, unable to find a smaller one, remains with her husband on the first floor of a two-family rental home. ‘None of our kids would be able to afford a home in Newton today.'”
The Kitsap Sun. “The median residential home price in Kitsap dropped to $538,000 in July as the inventory of homes on the market expanded, according to the Northwest Multiple Listing Service. In June, the median price had jumped to $600,000 in Kitsap County, up from about $550,000 the month before in May. Kitsap’s trend mimicked the trend across Washington state, where median residential home prices fell to $650,000 after hitting $675,000 the month before.”
From WRAL in North Carolina. “Multiple real estate agents told WRAL TechWire this week that the slowing market with regard to median home sale prices could have been predicted, and may in fact be a resumption of seasonal trends that have been observed historically. Still, no one is certain. And the median sale price dropped in both Wake County and Durham County – about 5%, in Durham compared to the prior month. ‘This year is very strong,’ said Seth Gold, a REALTOR licensed real estate agent who specializes in homes in Chatham County and across the Triangle. ‘But we are starting to see a little bit of a shift.'”
“‘What we’re seeing is a plateauing of price appreciation,’ said Tony Fink, a licensed real estate agent in Raleigh. ‘Which was expected. We’re seeing a higher percentage of home sell at or below list price.’ Even though there may be signs of a slowing market, this slowdown may be a return to seasonal norms, Fink noted. ‘I don’t think that’s a bad thing,’ said Fink. ‘Seasonality went out the window in 2020, because of COVID.'”
Business Observer Florida. “The ones likely to suffer most are those who bought homes when prices were at their peak. These are the people who will, when the comes to time to sell, face completely different market dynamics from when they bought. Gone will be the multiple offers and escalator clauses that helped get them into their homes.”
“Redfin’s senior economist, Sheharyar Bokahri says that during the pandemic home prices rose at an ‘unsustainable rate in many pandemic homebuying hot spots’ as people took advantage of low interest rates to buy second homes and for remote workers to relocate. In North Port, home prices increased 30.5% from 2021 in May, the fastest in the country, followed by Tampa, which saw home prices rise 28.1%. The demand pushed the prices up, he says, and with it gone, the prices will adjust, ‘a trend that has already begun.'”
“Another factor is that in markets where people have high debt there are more foreclosures or homes sold at a loss. Bokahri, says in the study that ‘a recession — or even a continued economic downturn that doesn’t reach recession levels — would impact some local housing markets more than others, and there are a few factors that put certain areas at risk. First, what goes up must come down.'”
The Redlands Daily Facts in California. “Industrial has hit the pause button from its meteoric rise in values, office suites abound with goodies for those willing to sign a term, and retail are taking their lumps. With gasoline and food prices soaring, few can afford discretionary spending like before. As commercial real estate practitioners, uncertainty is the attitude that causes the most pain. Now the market is changing from a seller’s market to an ‘equal’ market. Meaning the halcyon days of multiple offers and TBD pricing are likely ending.”
“It’s was 2014 when I last saw a ‘broker premium’ offered for a deal completed by Sept. 30. What is that owner seeing and trying to avoid? A costly vacancy, that’s what. Since interest rates have spiked recently by a point or two, many buyers have taken a pencils-down approach to pursuing purchases. Any combination of the above can cause a change in motivation. In my experience, this is the one thing that can cause a real estate transaction to collapse. Let’s hope for good attitudes, a balanced inventory and affordable interest rates!!”
From Bisnow New York. “Rate hikes, construction cost rises and soaring inflation are vexing the multifamily development market right now — and extraordinary rent increases aren’t providing much comfort. ‘We’ve kind of bought a ticket for a roller coaster, but we don’t know if we’ve bought a ticket for a local fun park or Six Flags, because what’s going to happen here over the next 18 months is pretty unpredictable,’ said Peter Hills, the head of capital markets at Vorea Group, which just finished construction on an 80K SF mixed-use project in Jackson Square. ‘For a generation of investors, we’ve seen sort of 2%-3% pricing,’ Hills said. ‘So, you know, to be able to get your head around making deals work with this new cost of capital, it’s gonna take some time to work itself through the system.'”
From McKnight‘s Senior Living. “Senior housing borrowers are looking to secure loan terms, Jessica Johnson, manager of Healthcare Banking for BOK Financial told the McKnight’s Business Daily. ‘At some point, I believe that cap rates will rise, and I think that prices will come down to help counteract some of the impact of rising interest rates,’ the banker said. ‘Once upon a time, we could provide 75% loan to cost with the provider putting in 25% equity. We’re now having to curtail that back and look at 60% to 65% of cost because otherwise, the projects just don’t make sense, because they don’t make money,’ Johnson said.”
From WWL Radio in Louisiana. “A federal bankruptcy judge seized control of six blighted apartment complexes from landlord Joshua Bruno, after Bruno was accused of ‘potentially fraudulent’ money transfers. Bruno owns several properties in disrepair across the New Orleans metro area including the abandoned 336-unit Oakmont Apartments in Algiers. According to Nola.com, U.S. Bankruptcy Judge Meredith Grabill wrote that Bruno could not account for $800,000 of hurricane insurance money saying Bruno allowed the money to, ‘vanish in the wind without one receipt, cancelled check, or other primary-source support to show that the proceeds were spent on repairs to the properties.'”
“The judge ordered Bruno to hand over financial records, cash, and any other assets for the six blighted properties he owns. She also appointed a trustee following Bruno filing for bankruptcy protection to avoid foreclosure on five properties he owns in Orleans Parish and one he owns in Jefferson Parish.”
Bisnow Washington DC. “Rising interest rates and construction costs have made it harder for affordable housing deals to pencil, and developers say D.C. regulations that lengthen the time before the groundbreaking are exacerbating the uncertainty and putting projects at risk. ‘I urge everyone … to continue thinking of other solutions,’ Fairstead Managing Partner of Development Brett Meringoff said. ‘I think the challenges are things we haven’t faced in a long time, probably since 2008.'”
“The lending environment has also become more difficult as rising interest rates have made deals harder to pencil, United Bank Managing Director Joseph LeMense said. ‘The interest clock is ticking,’ LeMense said. ‘You get to a point where you’re 70% through a project and you’re just out of money.'”
News.com.au in Australia. “PropTrack recorded a 56.9 per cent preliminary clearance rate from 736 recorded results last week, with a further 691 auctions scheduled for this week.When the price declines were first noted, the clearance rate was hovering about 85 per cent. On Saturday, a three-bedroom home in Blackburn sold for $1.16m after passing in at its auction. The 3 Park St pad was listed by Woodards Blackurn auctioneer Luke Banitsiotis.”
“Mr Banitsiotis said Melbourne was coming out of a rising market when vendors’ expectations could be slightly above a property’s value and ‘the market would catch up to and exceed that price by auction.’ ‘Buyers are now fearing overpaying instead of missing out,’ he added.”
The Globe and Mail in Canada. “127 Southcrest Dr., Kawartha Lakes, Ont. Asking price: $849,900 (Mid May, 2022). Previous asking price: $999,900 (Early May, 2022). Selling price: $840,000 (Late May, 2022). This two-bedroom bungalow near Lake Scugog underwent a months-long transformation, complete with staged furnishings, in an attempt to lure buyer to make the trip about 100 kilometres northeast from Toronto. Priced at $999,900, it attracted no offers, but with the sticker price slashed by $150,000 to $849,900, one visitor hashed out a $840,000 deal.”
“‘It’s not a very big street, but there were three homes on the market, and this was the only one that sold,’ said agent Deborah Glover. ‘The other homes were overpriced, as ours was at the beginning because of the downturn of the market, but they didn’t adjust [their prices].'”
Kelowna Now in Canada. “Kelowna’s housing market is undoubtedly cooling and slowing. Last month, compared to July 2021, sales plunged 47% each to 124 for single-family homes and 52 for townhouses and plummeted 52% to 85 for condominiums. After a buying frenzy pushed home prices to record-highs in April, a slide started. In July, the benchmark selling prices of a typical single-family home was $1,060,400, down $51,600 from June’s $1,112,000 and a $71,600 drop from the record-high $1,132,000 in April.”
InHome Canada. The prices for single-family houses took the biggest hit as they fell in each of the sub-regions. Worst off was the Central Okanagan with the average single-family house selling for about $89,000 less than in June, at $1,077,431 in July. Prices in the North Okanagan dropped about $70,500 to $762,368. Kamloops was down about $37,000 to $750,830 and the South Okanagan got off the easiest with a decline of about $10,400 to $762,368.”
“Condo prices in the North Okanagan took a $92,500 drop and Kamloops saw a decline of almost $30,000.The number of sales for the entire region covered by the association dropped by 33.3% compared to July 2021. The association includes the Shuswap/Revelstoke, Kootenay and South Peace regions as well. The slowdown in the region’s housing market is typical of what’s happening across the country.”
The Agassiz Harrison Observer in Canada. “Chilliwack’s real estate market just experienced its slowest July in more than two decades. With the full impact of rising interest rates kicking in, a total of 133 residential properties sold last month, falling sharply from the 310 that were sold in July of 2021. ‘On the supply side we’re still seeing a very healthy dose of new listings come onto the market,’ said CADRED president Daryl Moniz. ‘However, given the current imbalance between supply and demand, it’s likely that it will take some time for sellers to adjust their pricing expectations to what buyers can afford.'”
The Toronto Sun in Canada. “Market stats for July were released last week and it should come as no surprise they are pretty abysmal. In spite of their best efforts, even the TikTok realtors are struggling to find anything even remotely hopeful to cling on to. For the fourth straight month, the Toronto housing market reported declining sales and falling average sale prices. Far from February’s average sale price of $1,334,000, July was down a full 19% to $1,074,754, reported sales down by almost half. Hard to spin anything there.”
“Lest there be any confusion about what is behind this seemingly abrupt turn, it’s not a summer slowdown nor a return to pre-COVID market rhythms — it’s interest rates. And with all signs pointing to the Bank of Canada continuing their rate hikes in an effort to curb rampant inflation, we can expect more of the same to play out in the marketplace in the months ahead. For all of the talk of supply and demand, shifting buyer priorities, population growth and immigration targets, it turns out that what should have been the most obvious element of all has also been the most impactful.”
“Cheap money and swelling home values enabled speculative activity and investment, and offered up homebuyers a deeper pot from which to spend more than they might have otherwise. The steadily rising prices only served as evidence that homeownership isn’t about owning a home for your family, it’s also a smart investment and wealth-building vehicle.”
“Of course that only works if nothing gets in the way of the meteoric rise. Increasing carrying costs on a depreciating asset flips the value proposition right around. And now that money is no longer free, one has to wonder what comes next.”
“Meanwhile, the cries for help are already starting. Predictions abound that the government will step in and do away with the stress test, extend amortization periods, or offer payment vacations. Forgetting of course that the government we would be asking to save us is the very same that used every tool available to prop up our housing market through the pandemic, allowing this bubble to form in the first place.”
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‘Once upon a time, we could provide 75% loan to cost with the provider putting in 25% equity. We’re now having to curtail that back and look at 60% to 65% of cost because otherwise, the projects just don’t make sense, because they don’t make money’
This not making money thing is one of the surest signs of mania.
A reader sent this in:
Toronto home prices down most in the past 4 months since 2005
https://twitter.com/chigrl/status/1555961566100688897
Raleigh, NC Housing Prices Crater 21% YOY As Debt Crippled Speculators Panic And Inventory Soars Across The Carolinas
https://www.movoto.com/nc/27603/market-trends/
As one national broker conceded, “Houses are investments for people who can’t do math.”
Kyrsten Sinema ensured a $14 billion tax break for private equity, hedge fund, and real estate executives remains intact. It’s a win for many of her campaign donors.
SAM TABAHRITI
AUG 5, 2022
The Arizona senator’s support was won late Thursday after fellow Democrats dropped a proposal to close the so-called “carried interest” loophole, which is commonly used by private equity, hedge fund, and property investment executives to pay a lower rate of tax on their compensation.
As such, it was a win for many Sinema campaign donors.
https://www.businessinsider.in/policy/economy/news/kyrsten-sinema-ensured-a-14-billion-tax-break-for-private-equity-hedge-fund-and-real-estate-executives-remains-intact-its-a-win-for-many-of-her-campaign-donors-/articleshow/93377482.cms
Remember when Democrats were the party of the working man? Neither do I.
So she’s a closet republican? How fitting….
Well becareful what you wish for….your boy the Donald got a 73 million tax refund a few years ago on the carryover law.
Speaking of interest rates, it seems the Fed has just barely begun its series of rate hikes to tame inflation.
I’m not sure what kind of hopium those Wall Street traders who thought the Fed was done are smoking.
The Financial Times
Markets Briefing Equities
US government bonds tumble after hot jobs report
Traders crank up expectations for Fed rate rises after data show big increase in hiring
The US Federal Reserve building
Treasury yields moved higher after data showed that US employers added 528,000 jobs in July
Ian Johnston in London and Kate Duguid in New York August 5 2022
US government bonds tumbled and stocks slipped after employment data showed red-hot labour conditions, leading traders to boost their expectations for Federal Reserve interest rate increases.
Treasury yields shot higher after the closely watched US jobs report showed employers added 528,000 jobs in July, more than double the 250,000 expected by economists and up sharply from 398,000 in June.
The two-year Treasury yield, which is sensitive to monetary policy expectations, surged 0.21 percentage points to 3.25 per cent — a sharp jump for a market that typically moves in small increments. Longer-dated bonds came under more subdued pressure.
The S&P 500 equity index closed 0.2 per cent lower as traders weighed the prospect of further hawkish rate rises from the Fed. The tech-heavy Nasdaq Composite, the components of which are particularly sensitive to interest rates, fell 0.5 per cent. Both indices had recovered from declines of more than 1 per cent earlier in the day.
For the week, the S&P 500 gained 0.4 per cent, while the Nasdaq added 2.2 per cent. It is the first time since the start of April that both indices have strung together three consecutive weekly gains.
“The narrative is going to be that it’s come in way too hot, the Fed is right, and the markets were wrong,” said Jim Paulsen, chief investment strategist of The Leuthold Group. “I think it’s a muted response . . . on the stock and bond market relative to the emotion generated by the headline numbers.”
The strong jobs data, which also showed the unemployment rate returning to a half-century low, helped allay some concerns that the world’s biggest economy may be headed for a recession. It could also give the Fed impetus to continue with its rapid rate increases, after it pushed borrowing costs higher by 0.75 percentage points in June and July.
Trading in federal funds futures on Friday showed that markets expect the Fed’s main interest rate to peak at 3.64 per cent in March 2023, up from 3.46 per cent before the release of the jobs report. The federal funds rate currently stands at a range of 2.25-2.50 per cent.
Market participants had already begun boosting expectations for tighter monetary policy in the US after remarks earlier this week from several Fed officials.
San Francisco Fed president Mary Daly said the central bank was “nowhere near” done with its fight to cool inflation, which continues to run at 40-year highs. Chicago Fed president Charles Evans said he thought a 0.5 percentage point increase at the next policy meeting in September would be appropriate. However, he left the door open to a larger 0.75 percentage point rise, which he said “could also be okay”.
The jobs report served as “a reminder that you can’t just look at the GDP report to see whether the economy is in recession”, said Gargi Chaudhuri, head of iShares investment strategy Americas at BlackRock. “You have to look at a whole host of data, including from the labour market.”
…
I’m not sure what kind of hopium those Wall Street traders who thought the Fed was done are smoking.
Wall St. speculators and the bought-and-paid-for financial media have been yammering on about a FED pivot since the FED first hikes. The narrative was that “the economy can’t handle it, it will break, and Powell will be forced to pivot just like he did in 2018.”
This is fools’ logic. 2018 didn’t have raging inflation and trillions of newly printed money sloshing around. The FED simply cannot pivot until inflation starts coming down, and right it’s still going up. You can’t lower inflation with a fed funds rate running 7% below CPI.
These “FED pivot” dreamers who have been running up the stock market the past month or so are going to get taken behind the woodshed and riddled with bullets.
The action in the 10-year bond indicates the Keynesian fraudsters at the Fed are deploying their Yellen Bux fire hose to suppress rates and drive money into the stock market. That completely negates the Fed’s paltry .75 rate hikes.
You’ve been listening to too much Gregory Mannarino BS. The FED’s balance sheet does not support his lies.
Ever listen to the way that guy talks? He sounds like an opiate junky…. kinds looks gaunt like one too.
Ever listen to the way that guy talks? He sounds like an opiate junky…. kinds looks gaunt like one too.
Exactly. He’s a scammer.
I don’t think for a second that the balance sheet the Fed allows us to see is the real balance sheet. There’s a reason they fight tooth & nail against a real audit.
I don’t think for a second that the balance sheet the Fed allows us to see is the real balance sheet. There’s a reason they fight tooth & nail against a real audit.
The FED deserves a lot of hate and blame, but the allegation that they are faking their whole website and balance sheet is preposterous. There’s absolutely no proof of such a fraud. That’s Mannarino BS spew.
FED’s balance sheet does not support his lies.
I have noticed that the Fed’s assets are declining and have been since April, if I recall correctly.
if I recall correctly
You did. I posted a 🔍.
https://fred.stlouisfed.org/series/WALCL
Interesting news on the yield curve for the 10-year versus 2-year bonds. That curve went briefly negative about April 1, 2022, and it has been increasingly negative since July 6, 2020.
July 5, 2022: 0.00%
July 6, 2022: -0.0.4%
July 29, 2022: -0.22%
August 4, 2022: -0.35%
August 5, 2022: -0.41%
The negative spread doubled in just a week. A negative 10-2 spread has predicted every recession from 1955 to 2018, but has occurred 6-24 months before the recession occurring, and is thus seen as a far-leading indicator. Might not be so far this time.
https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_yield_curve&field_tdr_date_value_month=202208
The last of the red hotcakes markets in California is… Sacramento? No way!
Home prices are dropping throughout California. This Sacramento-area county is an exception
By Ryan Lillis
Updated August 03, 2022 6:27 PM By
The 2022 real estate cool down hit most of California in June, as sale prices dropped throughout much of the state. According to data from the California Association of Realtors, the median sale price of a single family home in the state dropped 4% in June compared to May. The biggest drop was seen in the Bay Area, where the median sale price was down 7%. Median sale price drops are fairly common this time of year. And the median sales price in the state of $863,790 is up 5.4% since June of last year. However, the month-over-month decline was among the largest going back to the great recession, when monthly price drops often hovered around 5% or more, according to CAR’s historical data.
…
Read more at: https://www.sacbee.com/news/business/real-estate-news/article264059676.html#storylink=cpy
“According to data from the California Association of Realtors,”
Did you forget that Realtors Are Liars?
Now’s the time, better than ever, for these first-time homebuyers, or anybody, that were frustrated the past twelve months, get in the game now,’ said Therio.”
“Always Be Closing” doesn’t allow for truthful analysis of a cratering housing market. Anyone who “gets in the game now” is going to get their fool head handed to them.
‘You can now make an offer on a house and get asking price or $10,000 below. You can have an inspection.
Gosh, how can I decline such a magnanimous offer? Easy: just remember the implosion of the Fed’s Everything Bubble is going to vaporize trillions in fictitious Yellen Bux valuations from the Fed’s asset bubbles, especially housing. I’ll sit things out until the carnage has run its course.
Garvens also believes the cost of living in Colorado Springs may never be any lower than it is now. ‘The cost of living in Colorado Springs will never go down.
What a crock. The cost of housing and soaring inflation have outstripped the median paycheck in CoS, along with most other municipalities. The cost of living in CoS will go down because the proles making their way in our oligarch-looted economy can’t afford to live here.
Relax. Co-conspirators in financial crimes have always attempted to legitimize and normalize fraud. Mortgage pimps are no exception.
“‘What we’re seeing is a plateauing of price appreciation,’ said Tony Fink, a licensed real estate agent in Raleigh.
Lying realtors (redundant) are recycling the same line of BS they were parroting in the run-up to the implosion of Housing Bubble 1.0, trying to convince the gullible & stupid that “it’s only a gully.” Anyone who trusts UHS or the media when buying a shack purely and simply deserves all the consequences from such abject stupidity.
I recall some douche realtor on TV during the last collapse using this weird hand motion while using the word plateau a million times.
“Douche realtor” is redundant.
Ted Cruz on Maria Bartiromo’s show this morning. His overview of the Inflation Reduction Act.
87,000 new IRS agents to go after middle class
IRS will be bigger than Pentagon + Border Patrol + FBI+ Department of State combined.
Allows oil from strategic reserve to be sold to China
Billion in new taxes on U.S. oil and gas production
$369 billion on climate efforts
Over $300 billion in green loan guarantees
$80 billion to double number of IRS Agents
$60 billion for environmental justice initiatives
$9 billion in tax credits for wealthy families to buy electric vehicles
$2.6 billion to conserve coastal habitats
$1.5 billion to plant trees
He went on to discuss Chritopher Ray of the FBI testifying in front of his committee being asked about…
FBI Agent who was in charge of Gretchen Whitmer set up in Michigan being promoted and sent to DC to be in charge of January 6 investigation after leading the entrapment scheme in Michigan.
According to Cruz Chritopher Ray said he couldn’t answer any more questions because he had to catch a flight to which Chuck Grasley said, wait a second you have your own plane. 🙂
Remember when the Panama Papers got leaked, showing globalist oligarchs were part of an enormous criminal conspiracy to shield their wealth from the tax man using offshore shell companies and accounts, and literally nothing happened?
“Only the little people pay taxes.”
~Leona Helmsley
87,000 new IRS agents to go after middle class
This has been as clear as day from the moment it was announced, yet the Dems have been gaslighting saying there won’t be an increase in audits on that demographic. Wanna bet?
Lobbyists for the oligarchy have written the tax laws to ensure the wealthy will always have plenty of loopholes and tax write-offs. The IRS won’t come after them because they can afford top-flight lawyers. Middle class business owners, on the other hand, will be forced to settle because they can’t afford to fight back against such a powerful, predatory, unaccountable organization with full Deep State backing.
Lets say you live in California, taxed to break your back,
Federal income tax
State and local income tax
Property taxes, if you own a home
Gas tax
Excise tax
Sales tax
FICA tax , Social Security Tax, Medicare Tax
Capital gains tax
Estate tax
Transfer taxes, value added taxes, tariffs
Payroll taxes etc, if you own a business
Add to that yearly registration on a car
Add to that mandatory Health Insurance payments . .
Add to that extra school bond charges, etc
Add to that any tax or fee I missed.
And they started a revolution over a Stamp and tea tax. This makes King George look like a nice guy.
Break your back taxes to fund a Government that rigs elections and mandates you inject poison and cut off your air with a mask and be lockdowned.
Globalist propaganda flagships facing staff revolts…feel-good headline of the day.
EMILY PRESCOTT: Vogue magazine chief Anna Wintour faces staff revolt over pay, contracts and union recognition
https://www.dailymail.co.uk/tvshowbiz/article-11087845/EMILY-PRESCOTT-Vogue-magazine-chief-Anna-Wintour-faces-staff-revolt-pay-contracts-unions.html
Every time high-net-worth libtards reap the consequences of the open borders, multiculturalism, and breakdown of law and order they’ve been promoting, an angel gets its wings.
‘Virtual Kidnappings’ Hit Entertainment-Industry Elite
https://www.rollingstone.com/culture/culture-news/virtual-kidnappings-wealthy-elite-entertainment-1392918/
Scammers are targeting the ultra-wealthy, claiming that they’ve abducted their children. Private investigators say their clients are rattled
At 12:44 p.m. on June 13, the wife of a high-profile music-industry veteran received a call from a 917 number that made her stomach drop. A male voice with a thick accent told the woman that her daughter — whose name he used — had just been involved in a car accident and was in the back of his vehicle awaiting help. The man on the line assured the woman that her daughter was fine and hung up quickly. As the woman was relaying the conversation to her husband, the phone rang again. This time the voice on the other end was far less comforting.
The stranger said he was a member of a Mexican drug cartel and told the woman that plans had changed. He was going to drive the girl across the southern border. The teen would be raped and dismembered if the woman didn’t meet his associate in a suburban Walmart parking lot and pay $10,000 in cash. Chillingly, the man raved about the girl’s blond hair and said she was “so pretty.” The woman then heard what she thought was her daughter in the background. “Mommy, help me,” the muffled voice cried. The executive repeatedly called his daughter’s cell phone, but there was no answer.
Pink Floyd’s Waters explains why he called Biden a war criminal
The US president is committing a “huge crime” by fueling the conflict in Ukraine, the rock legend told CNN
7 Aug, 2022 12:32
HomeWorld News
US President Joe Biden is fueling the Ukraine conflict, which is a “huge crime,” Pink Floyd co-founder Roger Waters said in an interview released on Saturday.
Waters sat down with CNN’s Michael Smerconish to discuss, in particular, the political views that the rock legend hasn’t shied away from displaying in his new concert tour ‘This Is Not A Drill’, which features a montage of alleged “war criminals,” including a picture of Joe Biden with the caption “WAR CRIMINAL. Just getting started.”
“[Joe Biden] is fueling the fire in Ukraine for start. That’s a huge crime. Why won’t the United States of America encourage [Ukrainian President Vladimir] Zelensky to negotiate, obviating the need for this horrific, horrendous war, that’s killing [people]?” he asked.
Waters also pushed back against Smerconish’s argument that Ukraine was “invaded” by Russia, noting that the entire crisis should be analyzed in the historical context.
“You need to look at the history… This war is basically about the action and reaction of NATO pushing right up to the Russian border, which they promised they wouldn’t do,” he added, recalling the Soviet leader Mikhail Gorbachev’s talks with the West on the withdrawal of Moscow’s forces from Eastern Europe.
Waters said that the conflict over Ukraine started as early as 2008, an apparent reference to the NATO summit in Bucharest at which the intentions of Ukraine and Georgia to eventually become full-fledged members of the alliance were supported.
https://www.rt.com/news/560404-pink-floyd-waters-biden-war-criminal/
How can a country $32 trillion in debt and in an economic free-fall afford to provide unlimited billions in military assistance for Ukraine?
US readies $1bn weapons package for Ukraine: Report
https://www.aljazeera.com/news/2022/8/6/us-readies-1bn-weapons-package-for-ukraine-report
At least Ukraine is supplying their own soldiers many of whom are upper middle-aged. The jooz don’t bother with supplying any soldiers as long as the U.S., U.K., Canada, et al, are willing to do their fighting for them. Note that he western nations also have much younger military with an older seasoned reserve force as backup.
The passage of Commie Obama care was the set up for the medical tyranny.
First, Obama care forced people to purchase a medical product, or suffer major tax penalty if you don’t comply.
Second , the cost of the product was based on how much you made, not what your health risk was.
So , a family of 4 who made 250 thousand a year might have to pay 30 thousand a year, where a lower income family of 4 might pay one thousand a year for same coverage. . A 30 year old healthy single man making 100 thousand a year was forced to purchase maternity care and other services not likely to be used, with high insurance premiums.
It looked like the Health Care Industry wanted to collect 4 tril!ion a year, with this Communist style forced payment , based on your income , never mind if your likely to use the services your forced to pay for.
Nothing was equitable about Obamacare, just take from one set of people , to pay for another set of people, while Health care Industry gets to collect outrageous amounts . Basically another loot job against the middle and upper middle class in US.
But, fast forward and Covid 19 brought on not only the tax payers paying Big Pharmacy for the response to Covid with expiermental fake vaccines, but the entire loot job charged to the taxpayers for the lockdowns , that paded the pockets of Mega Corporations, but destroyed small business.
And Biden mandating jabs, and Companies dictates that you lose your job if you don’t take a medical product, that has been lethal and caused extreme injury to millions.
So, I pay for health insurance, but I don’t dare use it based on the protocols of death in hospitals, while cheap meds that work against Covid are being banned, censored and supressed.
You have thousands of Drs and Scientists calling for taking the killer vaccines off the market, but they are censored, banned, deplatformed , slandered and demonized , and threatened with losing their job or medical licences.
The corrupt FDA will approve anything, doesn’t matter what the data, trials or mounting death/injury counts show.
And now monkey pox, along with Covid, which is round 2 of the loot job, rig the election, possible new lockdowns and masks, and yes snar!y monkey pox vaccines, and monkey pox determined by again a PCR test.
And no government body is stopping them, and if anything Governments are enforcing this genocide by injection.
First they changed the definition of a Panademic to be something that’s not a threat to 99.5 % of population. Than they changed the definition of vaccine to be something that doesn’t stop infection and transmission, but it kept you from dying.
Now they are changing the definition of a “Recession”, what a man or women is, a week of warm weather constitutes climate change emergency, and a political party are domestic terrorists.
Anything that disputes the ” official narratives”, is disinformation , and you can be punished for exercising you 1st amendment right to dispute it.
Now fuel and food is under attack, something they don’t have actual real replacement for, under the Climate Change
emergency, get rid of Co2 emissions agenda.
Nope, its get rid of humans by using fake emergencies , and change world into a One World Order, under Cooperate Governance, with Governments enforcing it.
And real estate is going to crash royal, but thats all part of the plan.
The plan was to create a UN, that would take over the sovereign Countries, by a 2030 Sustainable Earth agenda, by faked declarations of global emergencies , such as pandemics and nonsensical Climate change. They always planned to have Private Party Mega Corporations be the forced to bring on this takeover . Its all in their writings for 100 years how they planned on doing it.
Totally crazy I know.
The healthcare system is a giant SCAM (that you pay for)
https://www.youtube.com/watch?v=BYCAu6kSNKs
“The healthcare system is a giant SCAM…”
Got that right. Congress could allocate a billion dollars to investigate and prosecute the fraud, which would capture doctors, lawyers, insurance firms, etc., but at the end of the day they’re afraid of cutting off the poor and agitating their vocal supporters.
“1 in 6 Canadian home owners own 4 or more proprieties.”
If true, the whole foreign buyers argument goes out of the window, doesn’t it? After all, it was all wanna-be slumlords drunk with cheap liquidity out-bidding each other.
I expect similar number in the states.
One of the surprises in my adult life was the pervasiveness of wannabe slumlords. Scheming people living this second life while appearing like normal co-workers and the like.
“Scheming people living this second life while appearing like normal co-workers and the like.”
A popular myth is that the poor huddle together and help each other, but the reality is they prey on their own.
“Garvens also believes the cost of living in Colorado Springs may never be any lower than it is now. ‘The cost of living in Colorado Springs will never go down”
Realtors are liars.
The RBA sees no housing bubble.
Reno dream, living nightmare: Decreipt terrace sells big at auction
The inner-city terrace had paint peeling off its walls, mould growing on the ceiling, and a balcony unsafe to walk on.
An inner-city terrace with peeling walls, decaying balcony and mouldy ceiling caught buyer attention over the weekend by selling far above the reserve price.
The four-bedroom, one bathroom property at 362 Wilson St in Darlington surprised buyers when it sold under the hammer for $1.83m at auction.
The property had been listed for $1.5m, but buyer feedback suggested there was too much work to be done to fix it up.
“The ones likely to suffer most are those who bought homes when prices were at their peak. These are the people who will, when the comes to time to sell, face completely different market dynamics from when they bought. Gone will be the multiple offers and escalator clauses that helped get them into their homes.”
I believe that the term you are looking for is “bag holder.”
This 2:54 video would have been much easier to post than what I did above, but what I posted was accurate.
Ted Cruz
@tedcruz
·
Democrats are making the IRS bigger than the Pentagon, the Department of State, the FBI, and the Border Patrol COMBINED!
Those IRS agents will come after you, not billionaires and big corporations!
https://twitter.com/tedcruz/status/1556289966774386689?s=20&t=bm59lIcGe2ua_9xzM7Owqg
But…but globalist media outlets and Madison Avenue advertisers say gay couples make the best adoptive parents.
https://nypost.com/2022/08/07/georgia-couple-william-zulock-zachary-zulock-charged-with-using-their-adopted-children-to-make-child-porn/
I look forward to seeing this story on the CBS Evening News.
Of course I’m planning on going over to Aaron Rodgers house to watch the CBS Evening News.
Aaron Rodgers says experience with psychedelics made him better player, lover
“I had a magical experience with the sensation of feeling a hundred different hands on my body…”
JOE NELSON
AUG 5, 2022 2:05 PM EDT
https://www.si.com/fannation/bringmethesports/nfl-news-and-rumors/aaron-rodgers-experience-with-psychedelics-made-me-better-player-lover
10 career criminals racked up nearly 500 arrests since NY bail reform began
By Bernadette Hogan, Tina Moore and Bruce Golding
August 3, 2022
https://nypost.com/2022/08/03/career-criminals-rack-up-nearly-500-arrests-since-ny-bail-reform-began/
Many considering leaving NYC due to crime
Mar 26, 2022
https://youtu.be/DQrnospyJ7E
So many people have left San Diego in recent years that area church congregations are merging, rather than operating as shrunken congregations.
Most churches today are led by “woke” pulpit prostitutes, which is why congregants are leaving in droves.
San Diego sees first population loss in decade
By Andrew Bracken / Producer, KPBS Midday Edition, Jade Hindmon / KPBS Midday Edition Co-Host
Published May 2, 2022 at 1:01 PM PDT
San Diego has lost population for the first time in over a decade, losing 11,183 people between July 2020 to July 2021. Though the decline was slight, representing about 0.3% of the population, the demographic shift could have major impacts on the region’s future.
“San Diego County has had a net domestic out migration for a number of years, and so has California. So that means that more people leave the state, then move in,” said Mike Freeman, reporter for the San Diego-Union Tribune.
“What has happened though in the past in San Diego County in particular, is that foreign immigration has made up for that,” Freeman said.
Immigration policies put in place during the coronavirus pandemic, which limited immigration to the region, may have played a role in the population shift, particularly Title 42, which is currently slated to end later this month.
Freeman joined Midday Edition on Monday talk about what the population changes mean for San Diego and California at large. He said greater Los Angeles, San Francisco, and Silicon Valley all saw population declines exceeding San Diego’s figures.
…
https://www.kpbs.org/news/local/2022/05/02/san-diego-sees-first-population-loss-in-decade
Fewer people moving to California as more leave, new study finds
By Cristina Kim / Racial Justice and Social Equity Reporter
Contributors: Claire Trageser / Investigative Reporter, Andrew Bracken / Producer, KPBS Midday Edition
Published December 15, 2021 at 3:58 PM PST
The California Dream, the idea that here you can get rich, be famous, explore nature or just find yourself, has long enticed people to the Golden State. But that dream could be waning.
Since the start of the pandemic, the number of people moving to California from other states has dropped by 38%, according to a new study released by the California Policy Lab, a nonpartisan research institute based at University of California campuses.
But Californians are still moving out of state. The report finds the number of people leaving the state is back to pre-pandemic levels.
“Every region in the state has had entrances go down by anywhere from 25 to 45%, but we’re seeing that it’s especially pronounced in the San Francisco Bay Area,” said Evan White, executive director of the California Policy Lab and co-author of the study.
All 58 counties in the state have seen a drop in out-of-state entrances and most counties saw an increase in the number of people leaving the state.
…
https://www.kpbs.org/news/midday-edition/2021/12/15/fewer-people-moving-to-california-as-more-leave-new-study-finds
87,000 new IRS agents will soon be looking at your $600 cash transactions.
That will make those rich people pay their fair share.
I’m just surprised it’s not $500
How Should You Pay Casual Labor?
What Are Independent Contractors?
For those true IC you do not have to issue a 1099 for amounts less than $600.00
https://employeasepayroll.com/2019/03/18/how-should-you-pay-casual-labor/
“How Should You Pay Casual Labor?”
Or those hotties sharing their vertical smile on OnlyFans?
A chart …
Consumers Failing To Make Ends Meet
https://cms.zerohedge.com/s3/files/inline-images/image008-600×306.jpg?itok=yGPCq0jp
It sux to be carrying a revolving credit card balance in the face of rising interest rates. People who took out super sized mortgages are finding out about this.
Some of these realturds with YT channelsgot a bad case of agita about falling prices. I suppose if scammed everyone including family members I’d be on the defense too.
Santa Ana, CA Housing Prices Crater 14% YOY As Double Digit Price Declines Blanket Orange County California
https://www.movoto.com/ca/92706/market-trends/
I’d rather read Russian state media than the New York Times or Washington Post because the Times and the Post are globalist scum media.
Russia Today — Most Ukraine aid is a ‘scam’ – US lawmaker (8/7/2022):
“Republican lawmakers are feeling vindicated for opposing a $40 billion Ukraine aid package after a CBS News report showed that only 30% of the Western weapons flooding into the country are actually making it to the front lines in Kiev’s conflict with Russia.
“This [is] one of the reasons I voted ‘no,’” US Representative Marjorie Taylor Greene (R-Georgia) said on Twitter in a retweet of the CBS News post. Greene was among 57 House Republicans who voted against the massive aid bill, which passed overwhelmingly in May with the support of all Democrats and most GOP lawmakers. Eleven Republicans opposed the bill in the Senate, where it passed by an 86-11 margin.
The CBS story noted that with nearly $60 billion in US and Western European aid approved for Ukraine since Russia’s military offensive began in February, most of the weaponry has failed to get through to Ukrainian fighters. Getting weapons to the troops involves navigating a complex network of “power lords, oligarchs [and] political players,” the outlet cited Lithuanian aid group founder Jonas Ohman as saying. Amnesty International senior crisis adviser Donatella Rovera told CBS that “there is really no information” on where the weapons are going.
Representative Lauren Boebert (R-Colorado) said such scrutiny had been dismissed prior to the CBS report. “How many people were called Russian bots for saying this exact same thing since March? Now, when CBS says it, it’s perfectly fine. Whatever the case, glad the facts are out now. The majority of the Ukraine aid is a scam.”
https://www.rt.com/news/560429-us-lawmakers-claim-ukraine-aid-scam/
Russia is winning.
“Getting weapons to the troops involves navigating a complex network of “power lords, oligarchs [and] political players,” the outlet cited Lithuanian aid group founder Jonas Ohman as saying.”
Betcha it’s corrupt jooz there and here inside the beltway.
Are you anti-semite by chance?
No favorites. Sorry!
Here’s a bone for ‘ya: Ihor Kolomoyskyi
Is there any difference between investing in cryptocurrency and buying into a Ponzi scheme?
If so, please give me a shard of evidence. I can’t detect any difference.
Personal Finance
Financial Fraud
Ponzi Scheme
By James Chen
Updated August 02, 2022
Reviewed by Somer Anderson
Fact checked by Katrina Munichiello
What Is a Ponzi Scheme?
A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors. This is similar to a pyramid scheme in that both are based on using new investors’ funds to pay the earlier backers.
Both Ponzi schemes and pyramid schemes eventually bottom out when the flood of new investors dries up and there isn’t enough money to go around. At that point, the schemes unravel.
Key Takeaways
The Ponzi scheme generates returns for older investors by acquiring new investors, who are promised a large profit at little to no risk.
The fraudulent investment scheme is premised on using new investors’ funds to pay the earlier backers.
Companies that engage in a Ponzi scheme focus their energy into attracting new clients to make investments, otherwise their scheme will become illiquid.
The SEC has issued guidance on what to look for in potential Ponzi schemes including guarantee of returns or unregistered investment vehicles with the SEC.
The largest Ponzi scheme was carried out by Bernie Madoff, conning thousands of investors out of billions of dollars.
…
https://www.investopedia.com/terms/p/ponzischeme.asp
They Once Enslaved Our Bodies – Now They’re After Our Minds
https://www.bitchute.com/video/JpiZJO_RXn4/
29 seconds. Candace Owens.
Look at the first comment. LOL!
“Look at the first comment. LOL!”
[show less] 🙂
Debt enslavement is definitely a problem for people who were brainwashed into taking out supersized mortgages.
Are you planning to buy the dip on the stock market’s next bounce down the staircase?
Updated Sun, Aug 7 2022 7:01 PM EDT
Stock futures dip following S&P 500′s third winning week in a row
Yun Li
Stock futures traded slightly lower in overnight trading Sunday, following the S&P 500′s third straight weekly gain, as investors shifted focus to a key inflation report this week.
Futures on the Dow Jones Industrial Average dipped 70 points. S&P 500 futures and Nasdaq 100 futures both fell 0.3%.
…
https://www.cnbc.com/2022/08/07/stock-market-news-futures-open-to-close.html
Bahahahahahaha …
Entertainment Companies Start Dumping Woke Content As Viewership Tumbles | ZeroHedge
https://www.zerohedge.com/markets/entertainment-companies-start-dumping-woke-content-viewership-tumbles
We attended a woke version of a Shakespeare play this weekend, and now my wife wants to drop our season subscription. Sorry, Shakespeare’s characters were not LGTBQ.
Yep, kneel at the dollar altar.
Woke content goes over like a loud, wet, smelly fart in church.
Elvis wore diapers in concert after one too many accidents while doctors tried to treat his chronic constipation…. which he ultimately died of.
You needed to know this.
“…his chronic constipation…”
Pain killers will do that.
Colace is your best friend when on pain killers.
Following a bunion surgery where the first metatarsal and primal phalanx were both severed and reset with screws and plates, I was issued a bottle of Vicodin for five days of pain relief, swallowing one at the hospital prior to the drive home. At home I used Tylenol instead for one 24-hr day then cold turkey; simply elevating my foot worked best. When I returned the pills to the surgeon at the first follow-up visit he couldn’t believe it.
My aunt Mildred had bunion surgery. All she did was scream for weeks after.
Since property turned out to be a terrible investment, Chinese people are now lining up to lose money in jade purchases.
The Financial Times
Chinese economy
Chinese investors ditch property for jade in search of higher returns
Prices for the semi-precious stone have soared after supply was squeezed by coup, Covid and sanctions
William Langley in Hong Kong
5 hours ago
Sell-offs of Chinese equities and bonds and widespread defaults in the country’s property market are driving wealthy investors to re-examine one of Asia’s most traditional forms of investment — jadeite.
A coup in Myanmar, US sanctions and the Covid-19 pandemic have all but frozen supplies of the uncut stone, sending prices of finished jewellery bearing jadeite soaring.
Myanmar produces 70-90 per cent of the world’s supply of high-quality jadeite, which is the rarer and more valuable of two chemically distinct stones collectively known as jade. The stone is overwhelmingly sold to buyers in China and south-east Asia.
“The production [of jadeite] is getting less and less,” said Tommy Chan, a Hong Kong business owner who recently started purchasing less expensive jadeite jewellery pieces worth HK$80,000-HK$200,000 (US$10,200-US$25,500). “The value of jadeite will definitely go up.”
…
Since property turned out to be a terrible investment, Chinese people are now lining up to lose money in jade purchases.
This is all due to money-printing by the Chinese central bank. They are the biggest money-printers on the planet.
Will Bitcoin’s carbon footprint doom it to the dustbin of failed cryptocurrency technologies?
The Financial Times
Cryptofinance Cryptocurrencies
FT Cryptofinance: Ethereum prepares to ditch its energy-guzzling blockchain
Will the ‘Merge’ shine a light on bitcoin’s carbon footprint?
A montage with the Ethereum logo and digital tokens
Scott Chipolina in London
August 5 2022
In crypto land, breathless pitches about technologies that will transform the industry are 10-a-penny. For once, one that might partially justify the hype is around the corner.
In the past few years conversations about the future of crypto usually alight on a semi-mythical event at an undetermined date known as the “Merge”, and involves Ethereum, one of the industry’s premier blockchain networks.
It matters because it confronts one of the sharpest criticisms of crypto: that the industry guzzles vast amounts of energy when the planet desperately needs to reduce its consumption.
…
Our local hydro-power utility districts are getting ready to levy a modified rate structure to the crypto mining server farms flocking to the area.
‘Opening The Floodgates’—Crypto Braced For A $10 Trillion Earthquake As The Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Swing
Billy Bambrough
Senior Contributor
I write about how bitcoin, crypto and blockchain can change the world.
Aug 7, 2022,07:15am EDT
Bitcoin, ethereum and other major cryptocurrencies have struggled to maintain momentum after charging higher through July.
The bitcoin price, down around 70% from its all-time highs, had begun to rally last month but has since stalled as traders await a Federal Reserve bombshell and a “hundred-pound gorilla gets closer by the day.” The price of other top ten coins ethereum, solana, cardano and dogecoin have also struggled.
Now, BlackRock, the world’s largest asset manager with $10 trillion in assest under management, has partnered with major crypto exchange Coinbase to provide its institutional clients with access to bitcoin.
“This is a huge milestone for the crypto space, as it demonstrates the demand from BlackRock’s clients and institutional investors to access bitcoin,” Marcus Sotiriou, analyst with digital asset broker GlobalBlock, said via email. “BlackRock is opening the floodgates for institutions to access bitcoin.”
…
https://www.forbes.com/sites/billybambrough/2022/08/07/opening-the-floodgates-crypto-braced-for-a-10-trillion-earthquake-as-the-price-of-bitcoin-ethereum-bnb-xrp-solana-cardano-and-dogecoin-swing/?sh=1a2c19db7c75
If Bitcon is a sh!tty asset, does it really matter if Blackrock provides access?
In the long run, sh!tty assets go to zero.
Was the whole cryptobubble no more than a massive bet that central bankers won’t slow runaway inflation to a manageable level?
William Suberg
Aug 07, 2022
Elon Musk: US ’past peak inflation’ after Tesla sells 90% of Bitcoin
The firm may be caught short in the event that markets have already bottomed and crypto starts to deliver serious returns again.
Bitcoin (BTC) is in short supply at Tesla, even as its CEO predicts that United States inflation has already peaked.
Speaking at Tesla’s 2022 Annual Meeting of Stockholders on Aug. 5, Elon Musk predicted that an upcoming United States recession would only be “mild to moderate.”
Musk on costs: “The trend is down”
After recently selling almost all of its $1.5 billion in BTC holdings, Tesla is seeing the emergence of exactly the kind of economic landscape in which risk assets thrive.
During a Q&A session at the annual meeting, Musk revealed that six-month commodities pricing for Tesla parts is already getting cheaper, not more expensive.
Commodities, he said, are trending down, providing a hint that inflation has already hit its highest levels.
“We sort of have some insight into where prices are headed over time, and the interesting thing that we’re seeing now is that most of our commodities, most of the things that go into a Tesla — not all, more than half the prices — are trending down in six months from now,” Musk said.
…
https://cointelegraph.com/news/elon-musk-us-past-peak-inflation-after-tesla-sells-90-of-bitcoin
Will Bitcoin’s carbon footprint doom it to the dustbin of failed cryptocurrency technologies?
Hadn’t checked BitCON’s price in quite a while, so took a look. Seems to be surging again. Pfffffft.