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The Exuberance That Permeated These Markets Is Being Replaced By Fear

A report from the Spokesman Review in Washington. “‘Real estate is a cyclical thing. What goes up, must come down,’ Rob Higgins, executive officer for the Realtors association said of the local housing market. Spokane County’s overheated housing market appears to finally be cooling as inventory spiked and sales in July recorded the greatest year-over-year decrease in more than a decade. Last month’s median was a $30,000 drop from the all-time high of $450,000 recorded in May. ‘Sellers are still getting market value, but what they aren’t seeing is offers 20 to 30% above list price,’ said Tom Hormel, 2023 president-elect for the Spokane Association of Realtors.”

The Las Vegas Sun in Nevada. “For a second straight month, the median price for an existing home has declined, according to a report released today by the Las Vegas Realtors trade group. ‘We’re seeing a shift in the housing market,’ Brandon Roberts, president of Las Vegas Realtors, said in a statement. ‘We haven’t seen prices slow down like this in several years, and we haven’t had this many homes available for sale since 2019.’ At the end of July, the Las Vegas Realtors report showed just over 7,300 homes listed without an offer, up 144% from July 2021.”

The Idaho Statesman. “Statistics from July provide more evidence of a cooling housing market in Boise. A primary reason for the slowdown is an increase in supply. At the end of July, there were 2,408 homes for sale, a 128.2% increase from July 2021 and the most since September 2015, according to the Boise Regional Realtors. Competition for houses is tapering off. Sellers have accepted lower offers, reduced prices and made concessions, the Boise Regional Realtors reported. When competition peaked last year, buyers routinely were forced to pay more than the list price to buy a home. In July 2021, sellers received 101.3% of the original list price. This July, however, buyers paid an average of 95.6% of list.”

KTVZ in Oregon. “A two-month supply of housing stock as seen in the Bend-Redmond area last month might not sound like a lot, but it’s the highest level in two years, Beacon Appraisal Group reported in the July Beacon Report. Redmond’s median home sales price, meanwhile, dipped by $25,000 in July, but the $505,000 median sales price is just $23,000 below the record $538,000 figure set in April.”

The Ahwatukee Foothills News in Arizona. “The balance between supply and demand is now so tilted toward buyers, that they could be now calling the shots in Buckeye, Queen Creek and Maricopa, the Cromford Report said, adding that it may depend on their experience in the real estate game. ‘Here buyers now hold a distinct negotiating advantage and have a total of 2,243 active single-family detached listings to choose from,’ it said. ‘This compares with 675 just three months ago.'”

“The Cromford Report identified five other communities whether neither buyer nor seller has a distinct advantage in sale negotiations. They include Tempe, Chandler, Surprise, Peoria and Gilbert. But it’s sellers in those five areas that need to be a little nervous, it added. ‘Astute sellers will realize that the situation is very fluid and slipping away from them,’ the report said. The report said Scottsdale is appearing as it will soon join the overall trend dominating the rest of the Valley.”

“‘Prices have looked wobbly for the last two months,’ it said. ‘But as buyers start to flex their muscles, we should be prepared for more serious consequences. While we cannot forecast accurately several months out, it would be reasonable based on current trends to expect significant declines in average prices, median prices and average price per square foot by the end of 2022. Current trends can – and often do – change, so this is not baked in, just a reasonable base case.'”

Fox 26 on Texas. “In the heat of summer, Houston’s housing market is cooling down, a bit, as record high prices and rising interest rates have taken their toll. It reflects a national trend that sees a growing number of homes on the market and pickier buyers. ‘Whenever they’re in escrow, maybe they see a rate hike; maybe they think home prices will go down,’ says Charlie Mackey, from real estate broker Sundae, ‘They feel some sense of buyer’s remorse because of the inventory and because of the mortgage rate volatility.'”

The Los Angeles Times in California. “Katy Perry is officially out of Beverly Crest. The pop star just unloaded the main house for $18 million — the same price she paid for it in 2017.”

The Detroit Free Press. “Pontiac-based United Wholesale Mortgage has been staying profitable during the current downturn in the U.S. mortgage market and moderately reducing its employee headcount. The nation’s No. 2 mortgage lender by volume, UWM on Tuesday reported $215 million in net income, or profit, during the second quarter. That was down from $453 million in the first quarter, although higher than the company’s $139 million net income in the second quarter of 2021, back when mortgage rates were still under 3% and the housing market was booming.”

“‘We’ve been waiting for this time in the industry where rates went up,’ said UWM CEO Mat Ishbia. ‘They went up fast, everyone else was kind of caught doing the refi game and the merry-go-round with doing the refinance all day — that doesn’t work for a long-term strategy, and you’re seeing it right now.'”

From Yahoo Finance. “Redfin CEO Glenn Kelman joins Yahoo Finance Live: Well, it was really dramatic in May and June. I think it was underreported in the press. Housing used to be a very stable asset class. And now it’s extremely volatile. And one reason for that is that it used to be that institutions accounted for about a quarter of the sales. But now it’s about 1/3. You have more builder activity. You have iBuyers. You have real estate investment trusts, all active in the single family home market. An iBuyer is going to price ahead of the market and mark it down every week until it sells.”

“Now it’s about 1/3 of institutions accounting for sales, but that includes builders, too. Builders are very aggressive about selling their homes when they see inventory piling up… If you look at Boise, Salt Lake, Denver, more than half the listings in June were marked down, which is a record. I think in Salt Lake City, it was 62 and 1/2%, which is just crazy. So there were so many people who were pricing ahead of the market, looking at what happened last month and thinking it will happen next month. And they were just caught straddling a real correction in the market. It has been hard to have a reckoning with these folks. They think about what happened in October last year, what they saw their neighbor get in February of this year. And they still want that, and they can’t get it.”

From Insauga. “The real estate market continues its downward trend in Mississauga as experts predict the deepest decline in 50 years across Canada. In Mississauga, the July 2022 benchmark price for a single-family detached home was $1,601,000, according to the Toronto Regional Real Estate Board July report. That’s a drop of $73,800 from June’s benchmark price of $1,674,800. ‘In the Toronto and Vancouver areas, the decline in activity is quickly becoming one of the deepest of the past half a century,’ the RBC August housing report notes. ‘Prices are sliding fast, and the exuberance that permeated these markets earlier this year is being replaced by fear.'”

The Sydney Morning Herald in Australia. “Parts of Melbourne including Broadmeadows, Craigieburn and Cranbourne and suburbs of Sydney including Blacktown, Dolls Point and Riverstone all are at risk of feeling the most pain from the RBA’s aggressive monetary policy tightening. More than 360,000 first-time buyers entered the property market between March 2020 and June this year. Almost 110,000 of them were in Victoria while 87,000 were in NSW, taking advantage of generous government assistance and record-low interest rates.”

“It’s those buyers – who entered a market in which prices rose at their fastest in more than three decades – experts believe are most at risk as interest rates climb and real wages fall. In Melbourne’s Toorak, values climbed by 11.1 per cent through the pandemic but have fallen 10 per cent over recent months. It’s a similar story in nearby Armadale (up by 11.6 per cent through the pandemic but down 10.4 per cent) and Hawthorn (13 per cent increase but a subsequent 8.6 per cent drop).”

“In Sydney, values lifted by 9.5 per cent in Lakemba through COVID but have since fallen 7 per cent. Macquarie Park values jumped by 17.5 per cent but have since gone backward by 11.9 per cent while in Chippendale values went up 18.2 per cent but have given back 10 per cent. ‘I think households may be concerned about how they’re going to pay their mortgages going forward,’ said S&P Global senior director Narelle Coneybeare. ‘We do think there will be people who are going to struggle with these higher rates but it’s probably a small cohort at this stage.'”

The South China Morning Post. “Langfang, a Chinese city in Hebei Province situated between Beijing and Tianjin, has rolled back home-buying restrictions as it seeks to boost a housing market that is flagging amid rising economic headwinds. ‘In recent years, the transaction volume and prices of Langfang’s housing stock have dropped significantly. From a peak in 2017 to the present, prices of many developments have fallen by half or more,’ said Li Yujia, a senior economist at the Guangdong Urban and Rural Planning and Design Institute, a policy advisory body. ‘In popular areas, such a large drop is very rare.'”

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This Post Has 78 Comments

  1. ‘Prices have looked wobbly for the last two months,’ it said. ‘But as buyers start to flex their muscles, we should be prepared for more serious consequences’

    These are entire cities that are rolling over, and Phoenix REIC has their mouth hanging open. Can’t say you weren’t warned.

    1. Watched a couple episodes of House Humpers again last night. One in Baton Rouge, one in Phoenix. The realtors in both were going on and on about how “crazy the market was” and the future FBs needed to move quickly. They all ended up having to pay more than the list price to get the home.

      Looking at the copyright date at the end they were both 2022. That meant they were likely shot late 2021 or earlier this year. More great time capsules!

    2. Bubble denier of the day….

      https://time.com/nextadvisor/mortgages/mortgage-news/dont-wait-to-buy-a-home/

      Aug 9 2022

      Waiting on the Housing Market to Crash? Don’t, Experts Say. Here’s How Today’s Market Is Different From the Great Recession Housing Bubble

      “There’s not really any room for there to be a bubble right now. It’s not like people have borrowed too much and it’s not like homes are overvalued,” says Daryl Fairweather, chief economist at Redfin.

      “Mortgage underwriting was considerably more loose back in 2006,” says Robert Dietz, chief economist at the National Association of Home Builders. “It was easier to get a mortgage to speculate in the housing market. That is not the case today.”

      There it is. The experts say it’s different this time.

      The narrative seems to be shifting more quickly than in the previous bubble. I am already seeing articles that concede “price declines in some areas are possible” which means they are already happening. The next narrative will be that there may be a broad decline but it won’t be economically significant. I think we will see those articles by the end of the year.

  2. ‘From a peak in 2017 to the present, prices of many developments have fallen by half or more’

    Half off is unrealistic!

      1. Boosting themselves into an early grave

        Absolutely ZERO sympathy. In fact, doctors dying is the perfect solution. Maybe when enough have died, they’ll stop hiding the truth from the unsuspecting people they are murdering with the jab. Then again, I doubt it.

  6. Apparently, Conservatives On Twitter Have A Problem With Jill Biden’s Tights

    ELIZA HUBER
    LAST UPDATED APRIL 5, 2021, 6:30 PM

    On Thursday, Dr. Jill Biden was photographed stepping off a plane at Maryland’s Andrews Air Force Base following a visit to California. For the trip, she wore a blazer, a leather skirt, black boots, and patterned tights.

    https://www.refinery29.com/en-us/2021/04/10403478/jill-biden-patterned-tights-fishnets-conservatives-twitter-backlash

    I think Jill Biden ordered this part of the raid to see how a First Lady is supposed to dress.

    Report: FBI Agents Searched Through Melania Trump’s Wardrobe During Mar-a-Lago Raid

    JORDAN DIXON-HAMILTON9 Aug 2022

    In addition to searching through Trump’s office, FBI agents also combed through Melania Trump’s wardrobe.

    As the New York Post reported:

      1. The bottom right picture is the one where she’s lifting her skirt like Ashley Biden is the black and white picture with her dad leering at her.

  8. “If you look at Boise, Salt Lake, Denver, more than half the listings in June were marked down, which is a record”

    A record? Denver = CRATER.

    “This sucker could go down” — George W. Bush

    2. ‘Trump has been cooperative on that front, Bobb said, and previously had invited the FBI to Mar-a-Lago to examine the White House records he had in storage at the time.’

      “I’m stunned and dismayed,” commented Marc Ruskin, 27-year FBI veteran and former federal prosecutor. “The disregard for traditional norms and apparent lack of concern with the appearance of impropriety is indicative of an abandonment of even a veneer of independence and objectivity,” he told The Epoch Times.’

      ‘Former federal prosecutor Mike Davis went even further, saying the raid may have been illegally invasive. “Under the case law, you can’t do a home raid if you can secure the documents through less intrusive means,” he told “Bannon War Room” on Aug. 9. The FBI had to first determine that requests for the documents or even subpoenas wouldn’t be sufficient, said Davis.’
      “There’s zero evidence” that Trump wouldn’t have cooperated, he said. “There was no allegation or evidence that he [Trump] was destroying any of this evidence or putting it into the wrong hands. This is banana republic-level tactics from the Biden Justice Department.”

      ‘If Trump had documents that should go to the archives, it would add him to a lineup of former government officials. Former FBI Director James Comey took his handwritten notes when he was fired by Trump in 2017. His home wasn’t raided. He handed the notes to FBI agents who came to interview him. The Obama administration didn’t just fail to hand over documents, tens of thousands of its documents went missing or were destroyed. No homes were raided.’

      ‘Former Secretary of State Hillary Clinton failed to hand over tens of thousands of emails and documents from her server, claiming they were of a personal nature. The FBI was able to retrieve some of the documents, revealing that many were work-related. Moreover, the documents were under congressional subpoena at the time when a Clinton aide deleted them.’

      ‘The Trump raid increased the already polarized political playing field, as Republicans can now argue that home raids of former presidents are acceptable. “They’re setting a very dangerous precedent where you can do a home raid of a former president of the United States,” Davis said, noting that such a thing has never happened “in our 250 years as a republic.”

      https://www.theepochtimes.com/fbi-trump-home-raid-improperly-intrusive-circumstances-indicate_4653940.html

    4. This is on Republicans. Democrats have punked them to the point of irrelevancy. And like somebody pointed out – CRICKETS from the Senate Repubs. Repubs are Dems at this point. They’re all globalists who sold the US down the river.

  10. You will eat nothing.

    Russia Today — Energy costs pushing Europeans into food poverty (8/10/2022):

    “Food producers across Europe are contending with soaring energy prices, with that increase quickly felt in the pockets of consumers grappling with a cost-of-living crisis, Bloomberg reported on Tuesday.

    According to the report, citing a Bank of England forecast, a third of UK households are set to spend more than 10% of incomes on energy, and now surging grocery costs are driving up food poverty.”

    https://www.rt.com/business/560571-europe-energy-costs-food-poverty/

    This famine sponsored by the World Economic Forum.

    Globalists gonna globe.

    1. You will heat nothing.

      Russia Today — UK planning for worst-case energy scenario (8/10/2022):

      “Cold weather combined with gas shortages is expected to force UK authorities to enact a “reasonable worst-case scenario,” providing for four days of blackouts during the upcoming winter, Bloomberg reports, citing people familiar with the government’s planning.

      The probable outages may affect not only industry, but also the country’s households, as a result of an electricity capacity shortfall amounting to about a sixth of peak demand – even after emergency coal plants have been fired up.

      At the same time, Britons are expected to see average annual energy bills rise above £4,200 ($5,086) in January from the current fee of just under £2,000, adding to the soaring consumer price inflation.

      https://www.rt.com/business/560579-uk-blackouts-industry-households-gas/

      Turn down the thermostat, Zelensky needs $7 billion a month.

      1. “Following the latest energy price cap predictions, the End Fuel Poverty Coalition predicts that 9.2 million U.K. households (28.4%) will be in fuel poverty from Oct. 1, increasing to 10.5 million (32.6%) from Jan. 1.

        “A tsunami of fuel poverty will hit the country this winter and these latest estimates further demonstrate that the level of support already promised by the government is just a drop in the ocean,” said Simon Francis, co-ordinator of the End Fuel Poverty Coalition.”

        https://www.cnbc.com/2022/08/10/britains-cost-of-living-crisis-worsens-as-rents-and-energy-bills-soar.html

        32.6% is that a lot?

      2. But the One World Order believes in “Equity. “Populations of the Globe will be
        equally….

        Equally starving
        Equally freezing
        Equally deprived
        Equally hacked under surveillance
        Equally injected with fake toxic vaccines
        Equally lockdowned, with air cut off by masks.
        Unite workers of the World for equality promised by Cooperate Stakeholder Governance.

      1. The John D Rockerfeller business model of the “Monopoly.”
        Basically destroy all competition so the Monopoly gets all business and dictates the prices.
        Examples of Monopolies,

        China manufacturing monopoly,

        News monopoly censoring dispute, paid for by Big Pharmacy Monopoly.

        Destruction of small business , so big Mega Corporations get all business.

        Take away normal food, and create a new monopoly of bugs and fake food.

        Monopolize the Health system , destroy the competition , than make pharmaceuticals and vaccines only option, than get Government to mandate the toxins.

        Monopolize energy, by destroying current energy sources, for total control over humans.
        Destroy capitalism and competition , for putting all power of resources in the hands of the few.
        Technology monopolized and used to enslave humanity, by the few.
        Depopulation is a means to destroy the competition of human populations , for the utopia of the few. Eliminate the competition, even if they are humans.

  15. The Stockton CA Housing Market Update
    Aug 9, 2022 Welcome to the Stockton, CA. housing market update for August 2022. Each month we take a look back at the previous months housing data to see what is trending in the Stockton housing market and what that can tell us moving forward.

    Chapters
    0:00 Housing Market Introduction
    0:11 Homes for Sale, Sold and Pending
    1:11 Months of Inventory
    1:46 4 Year Chart of Inventory
    2:45 Average Sold Price in Stockton
    3:38 Days on Market
    4:47 Summary

    The most noticeable number on this chart is the number of homes that came on the market. 433 homes came on the Stockton housing market during the month of July. That is the most inventory that we have seen on the housing market in well over a year. This means buyers definitely have more to choose from, and should not face the fierce competition that has been present over the last couple of years. We did see the number of homes sold drop a bit, from 249 to 187. This could be a result of buyers getting used to the new interest rates. The number of pending sales came up a little bit from 219 to 229, which should result in an increase in the number of sales for the month of August. Again, the big news on this chart is the number of homes that are now available, signaling good news for buyers and the shift in the housing market from a strong seller’s market to a more neutral one.

    This trend is reinforced on the months of inventory chart seeing that there are almost 2 months of inventory available in the Stockton housing market. There has not been that much inventory since March of 2020. Again, this trend shows that buyers have more homes to pick from, and should help those buyers who were tired from all of the competition for too few houses.

    Looking at the average sold prices of homes in Stockton, we can see a slight dip from $479,000 to $470,000. Taking a look back at the rest of 2022, we can see that prices have held in the $470,000 since February of this year. We anticipate that prices will continue to hold steady at around this price point. However, the last three month have showed a steady decline in asking prices, dropping from $555,000 in May of 2022, down to $514,000 last month. Sellers are having to get a little more realistic when pricing their homes and that is demonstrated by this chart.

    Finally, taking a look at the days on market we see that homes are still selling relatively quickly, selling after just 21 days on the market. That number is up a little from last month’s 18 days, but with “normal” days on market coming in at around 30 to 50 days, we can see that 21 days means that homes are selling relatively quickly.

    So this month’s Stockton Housing Market numbers shows more good news for buyers. Inventory is up and that is always good for those looking to buy. For those looking to sell, they need to start taking note of the market around them and making sure that their house is price realistically. Taking that into account and making sure the home looks its best, sellers should still be able to sell their homes fairly quickly for a good price.

    https://www.youtube.com/watch?v=O4zPSJZz6fs

    5:37.

  16. How does the Housing Market Affect You? Check out this Month’s Stats
    Aug 10, 2022
    Let’s dive into the most recent Housing Market updates and how it affects you here in San Diego County.

    The market has continued to cool, as rising mortgage rates and record-high prices have stifled affordability, weakening demand and pricing out many buyers. As more buyers postpone their home purchase plans, the rental market competition intensifies.
    The Median Sales Price of the whole county decreased to $850,000 – $25,000 lower than last month.

    1:48.

    1. There’s plenty of money around San Jose. Homes are bought for location only, torn down and rebuilt larger. Expensive restaurants have waiting lines outside, and parking is a hassle. It’ll be some time before things get tough around here.

    1. It sounds like there will be about 5 million repossessed cars coming to the market this year. A good time to try to screw the consumer with a new car purchase.

    2. The government isn’t “giving customers $7,500 to purchase them.”

      It is a tax credit, meaning you have to pay more than that in income taxes to get the full credit. This means it’s a rich person’s credit, because the middle class and the poor will not qualify in any meaningful way. They don’t want the poor and middle class driving anymore. That’s what they’re doing.

    1. Reddit /r/Denver is overun with Realtor shills denying this. Any posts conficting with #MuhNarrative get downvoted into oblivion.

  21. “At the end of July, there were 2,408 homes for sale, a 128.2% increase from July 2021 and the most since September 2015”

    Houston, we have a problem.

    So, the insane run-up in prices was due to 1) virtually no inventory, 2) ridiculously low interest rates, and 3) COVID refugees. All three of those are gone. And yet Boise and Austin and these other flyover areas are going to be just fine? Good luck with the soft landing relitters!!

    1. The Financial Times
      Robinhood suffers harshest hangover after pandemic stock trading boom
      Active users desert upstart retail broker while stodgier rivals weather market slump
      Vlad Tenev, Robinhood chief executive, has said the once fast-growing company will focus on ‘customers we already have’
      Madison Darbyshire in New York yesterday

      Robinhood, the retail broker whose growth reached the stratosphere as stock trading boomed in the coronavirus pandemic, has fallen back to earth.

      Active users have fled the platform. The number of funded accounts has levelled off. Robinhood’s market capitalisation has dropped by two-thirds since it went public last summer. Last week it announced lay-offs for nearly a quarter of its staff.

      “It is a post-Covid hangover,” said Dan Dolev, analyst at Mizuho Securities. Robinhood “has woken up in a hotel in Las Vegas, and there is a Bengal tiger in the bathroom”.

      The California-based broker enticed a generation of first-time investors with commission-free trading and an easy-to-use app. But its expansion has hit a wall since government pandemic stimulus payments ended, inflation began to eat into investors’ budgets and the stock market tumbled from its highs.

      Robinhood’s business has felt these challenges more acutely than other brokers. Its revenue in the second quarter was down 44 per cent year on year, compared to an adjusted increase of 10 per cent at Interactive Brokers and a 13 per cent rise at Charles Schwab. Schwab also posted record profits for the quarter.

      After adding 10mn accounts in 2021, Robinhood added only 100,000 accounts in the second quarter. The number of active traders on its platform declined by almost 2mn from the previous quarter, to 14mn. A year before, active users totalled 21.3mn.
      …

  23. Seriously, I thought they were going to try to kill Trump, as they probably killed JFK. and his brother Bobby, and they almost got Reagan. . .
    Apparently they don’t want Trump to be a martyr for the populas movement. .

    Better to demonize Trump, make him a Russian operative, a criminal , a racist, or Trump and his supporters are insurrectionists and domestic terrorists.
    Show trials and unequal justice to take out the political opposition, as Hitler/Stalin did.
    But, as the people take in how bad Biden Administration is, it makes Trump look good by comparison.
    Taking Trump out, as they might be sucessful in doing by the new attack, might backfire in the end for the Dems.

      1. “Mid-tier Blue Checkmarks are the “soft targets” to aim for”

        A la John Ross in his excellent novel “Unintended Consequences”

        I particularly liked the way a low-level US EPA official, drunk with power, was taken out by the owner of a dry cleaning shop that the Feds shut down.

        1. Thr FAA clown died rather well. The Chuck Shumer stand in was aspectacular way to go and rather creative.

  24. Plano, TX Housing Prices Crater 29% YOY As Dallas Area Land And Lot Prices Plunge

    https://www.movoto.com/plano-tx/market-trends/

    As a national land broker explained, “There is a globe full of land were fully 95% of it goes undeveloped. Land is essentially worthless dirt. If you paid more than $500 an acre, you got ripped off.

  25. “‘Real estate is a cyclical thing. What goes up, must come down,’ Rob Higgins, executive officer for the Realtors association said of the local housing market.”

    I’m guessing before The Housing Bubble inflated, starting around 1997, Spokane County’s housing market was largely devoid of massive cyclical fluctuations. Realtors have very short memories, and no recollection of what happens when a mania isn’t underway.

    “Spokane County’s overheated housing market appears to finally be cooling as inventory spiked and sales in July recorded the greatest year-over-year decrease in more than a decade.”

    More than a decade ago was the tail end of The Great Recession housing collapse. It seems like the market is quickly retracing!

  27. Overpaying for a house. The gift that keeps on taking!

    Year Property Taxes Tax Assessment
    2021 $6,732 (+345%) $350,704 (+338.4%)
    2020 $1,513 (+739.6%) $80,000 (+566.7%)

  28. IRS Job Listing: Special Agents Must ‘Carry a Firearm and Be Willing to Use Deadly Force’

    AWR HAWKINS
    10 Aug 2022

    A job listing for the position of IRS Criminal Investigation Special Agent stresses that applicants must “carry a firearm and be willing to use deadly force” in order to carry out their duties.

    The job listing says:

    It goes on to describe Special Agent “major duties,” which include “[carrying] a firearm and [being] willing to use deadly force, if necessary.” Applicants for the Special Agent position must also “be willing and able to participate in arrests, execution of search warrants, and other dangerous assignments.”

    https://www.breitbart.com/politics/2022/08/10/irs-job-listing-special-agents-must-carry-firearm-be-willing-use-deadly-force/

    1. IRS Pulls Job Post Detailing How New Accounting Agents May Use ‘Deadly Force’ After Backlash

      by Jamie White
      August 10th 2022, 3:49 pm

      The Internal Revenue Service just deleted a job posting page from its website detailing duties for prospective new agents, including using “deadly force if necessary” during tax audits.

      And for an annual salary of $50,704-$89,636, SAs are required to work a “minimum of 50 hours per week” and be “willing and able to participate in arrests, execution of search warrants, and other dangerous assignments.”

      The job posting page was quickly removed from the IRS jobs website following massive blowback on social media.

      https://www.infowars.com/posts/irs-pulls-job-post-detailing-how-new-accounting-agents-may-use-deadly-force-after-backlash/

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