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Most Buyers These Days Prefer To Wait For The Next One Rather Than Overpay

A report from the Center Square. “‘I have to admit, even I am a little shocked at how fast the market decided to change,’ said Patrick Muldoon, a realtor in Colorado Springs. ‘It is like we had a really hot summer day and a few days later, a blizzard. One weekend we were watching buyers toss everything they could at a house just to have a chance. Four weeks later, sellers were still shell shocked they missed the top of the market.’ A steadily rising supply of housing inventory has helped to shift Colorado’s housing market in favor of homebuyers as many existing homes on the market are now seeing price reductions.”

The Pahrump Valley Times. “Southern Nevada home prices have cooled as buyers pulled further back in July. The once-sizzling market is becoming a more distant memory. The median sales price of previously owned single-family homes — the bulk of the market — was $465,000 in July, down 3.1 percent, or $15,000, from June, according to Las Vegas Realtors. In Pahrump, the median price for a home sold in July was $369,715, according to Rocket’s real estate report. That’s up more than $70,000 from a year ago but also down from previous months that saw peaks near $400,000.”

“‘We’re definitely seeing a shift in the housing market,’ LVR President Brandon Roberts said. ‘We haven’t seen prices slow down like this in several years.’ In July, more than 45 percent of Pahrump homes were sold below the asking price. Homes sat on the market about 20 days longer than they did the month prior.”

“Just over 27 percent of pending sales in the Las Vegas area fell through in June, the highest cancellation rate in the nation, according Redfin, which reported that home sales nationally were nixed at the highest rate since the onset of the pandemic. Also, some 20 percent of Southern Nevada listings had a price cut in June, the fourth-highest share in the U.S., Zillow reported.”

“Agent Jillian Batchelor said the market was still heated early this year but started to turn as interest rates climbed higher. Just three or four months ago, buyers were paying $10,000 over the asking price, but now they’re offering at or below the listing price and seeking concessions, said Batchelor, who also pointed to the surge of price cuts in Southern Nevada. ‘The market is definitely turning,’ she said.”

The Sun Sentinel in Florida. “More people are looking to put their homes on the market as internet searches for selling a house have shot up. Searches online for ‘sell my house’ have soared in the United States, rising 147% as of July, according to an analysis. ‘We have been inundated with seller calls. They know that things have shifted so they want to know how much their house is going to sell for and if they can get what their neighbor got three months ago,’ said Patty Da Silva, broker with Green Realty Properties in Cooper City, noting they’ve had a 25-30% increase in such calls.”

“It’s also reflected in the amount of new homes headed to the market. According to numbers from Whitney Dutton with the Dutton Group in Fort Lauderdale, there’s been about 36% increase in the number of single-family homes coming on the market per week in Fort Lauderdale in August when compared to the year before.”

“‘Let’s say you missed 5% of the market by selling now as opposed to six months ago. If you are going to repurchase, you are going to get that same benefit on the other side,’ Dutton said. ‘Sellers that are investors definitely feel that they have missed 5 or 10% of the market because the multiple offer situation isn’t like it was a year ago.'”

From Forbes. “As July settles into August, the New York real estate market has settled into its own peculiar rhythm. The most expensive neighborhoods have gone quite dormant. Desirable large properties in top buildings, priced at $10 million or more, don’t seem to generate a call or an e-mail requesting a showing from one week to the next. Interestingly, this holds true in the condominium as well as the co-op market. Sponsors are negotiating far more extensively than they were at this time last year, and even with that, contracts signed are down 30% or more.”

“Competitive bidding is largely gone, as are sales over the asking price. Most buyers these days prefer to wait for the next one rather than, as they see it, ‘overpay.'”

The Pacific Business News on Hawaii. “Neighbor Island home sales continued to cool in July, while median sale prices largely continued to increase over the same month last year, according to recent sales statistics. While prices for homes and condominiums on Maui showed positive gains, the market ‘continued its lowdown, showing considerable declines in the number of pending and closed sales compared to the same time last year,’ according to the Realtors Association of Maui.”

“There were 88 single-family homes sold on the Valley Isle in July compared to 110 sold in July 2021, a decline of 20%, while the number of condominiums sold declined 52.9% July-over-July, from 210 in 2021 to 99 last month. There also were 70 homes going under contract, or pending, last month compared to 120 the prior year, a decline of 41.7%, and 95 condos pending compared to 157 in July 2021, a drop of 39.5%.”

“Similar sales trends were seen on both Hawaii Island and Kauai in June, according to ales statistics from those islands. However, the single-family home market on Kauai was the only segment to see a decline in median home prices.”

The Dallas Morning News. “The median sale price of a home in the Dallas-Fort Worth area was $421,000 in July, up 15% from July 2021 but down 3% from June. ‘It was such a remarkably good year that it was going to take a miracle for [sales] to go back up again,’ said Jim Gaines, an economist at the Texas Real Estate Research Center. ‘It was going to take the continuation of 2% and 3% interest rates, which didn’t happen, of course.'”

“The count of active listings across Dallas-Fort Worth increased 59% to 18,378 homes because properties are sitting on the market and selling less quickly. A separate report from Realtor.com showed that 27% of properties on the market in Dallas-Fort Worth have had their prices reduced. Michael Hershenberg, a real estate agent in Southlake for Keller Williams, said that as the market softens, buyers who get VA and FHA loans and therefore can’t always pay tens of thousands over the asking price against cash buyers are now finding more success in getting under contract. ‘It’s the correction that needed to happen,’ he said.”

A press release. “According to Redfin, 61.2% of for-sale homes were on the market for at least 30 days, up from 54.4% a year earlier.That’s the first year-over-year increase in ‘stale’ housing supply since the beginning of the pandemic and close to the biggest uptick in Redfin’s records, which go back to 2012. The share of for-sale Oakland, CA homes sitting on the market for at least 30 days was up 60.7% year over year in July, the biggest increase of the 50 most populous U.S. metros. It’s followed by Phoenix, where the share of stale inventory rose 54.5% year over year. Next come Austin (50.9%) and a pair of Southern California metros: Anaheim (49.7%) and Riverside (46.7%). Fort Worth (43.4%), Dallas (42.9%), Washington, D.C. (42.5%), Sacramento 41.7%) and Seattle (41.3%) round out the top 10.”

“More than half of those places–Oakland, Phoenix, Austin, Anaheim, Riverside, Sacramento and Seattle–are among the 20 housing markets that cooled fastest in the first half of 2022. ‘The market did a 180-degree turn from early spring to late spring, with buyers backing out because of high mortgage rates. A lot of sellers are telling me they feel that they’ve missed out on the hot market,’ said Christopher Johns, a Redfin agent in Houston, where the share of stale inventory rose 10.2% year over year in July. ‘I’m reminding prospective sellers that we’re not in a housing-market crash; it’s a correction. If sellers list their home for slightly less than they would have five months ago, they’re still likely to get a solid offer.'”

From Mansion Global. “A 10-acre mountain estate in Alamo, California is headed for auction later this month with no reserve. Located to the east of Oakland in Contra Costa County and approximately 28 miles outside of San Francisco, the estate sits on the ridgeline of the Alamo mountains and is designed to show off panoramic views nearby Mt. Diablo, according to the listing with Dana Green of Compass. The property initially came on the market for $19.8 million in July 2020, Mansion Global reported at the time. It’s currently on the market with Ms. Green—who was not immediately available for comment—asking $17.75 million, should a buyer want to purchase it before the auction. Bidding opens on Aug. 16 and runs through Aug. 22.”

From CBC News in Canada. “Homes are also staying on the market longer in Greater Sudbury, said David Kurt, the broker of record with Lake City Realty in Sudbury. ‘Right now, buyers have a lot more opportunities to look at a house a couple of times before deciding, make an offer, and then maybe even make a conditional offer,’ Kurt said. Kurt said higher interest rates have helped cool housing demand, but there’s also an emotional component that has led to less demand. ‘When the market went up, they [buyers] thought, ‘If I didn’t buy today, then I would never be able to afford to buy,’ he said.”

“Kurt said increasing real estate prices during the pandemic also led to more Realtors in Greater Sudbury. Before the pandemic, he said, the city had about 338 agents, but that has increased to about 450 agents. ‘So there are a lot of new agents out there and there’s going to be a lot less transactions happening, which means a lot of these agents are not going to be making money to be able to survive,’ Kurt said.”

From Introducer Today. “HBB Solutions looked at those homes currently on the market who have opted to drop their asking price expectations and by what margin they’ve chosen to do so.Across Britain, the research shows that homesellers who are choosing to drop their asking price are doing so by 19.8% on average, reducing from £380,637 to £305,353 – a £75,284 reduction.”

“The regions where sellers are most frequently forced to reduce their asking price are the South East and London, where local reductions account for 24% and 14% respectively of all property asking price reductions spanning Britain. Yet, it’s the sellers in the North East that are being forced to apply the most significant asking price reductions, typically coming down by 20.5%, followed by the West Midlands (20.4%), Yorkshire & Humber (20.2%), and Wales, (20.2%).”

Newshub New Zealand. “The latest QV House Price index for the three months ending in July shows the national average price of a home is now $989,790, dropping by 4.9 percent in the quarter. The average house price in Auckland, Tauranga and Queenstown Lakes District remains above $1 million, but the City of Sails saw the average house price drop to $1,410,163, down 5.5 percent in the quarter. Wellington was harder hit with a drop of 11 percent to $960,004, down by $130,000 over the quarter.”

“QV Operations Manager Paul McCorry said the reduction in annual growth across the country was ‘staggering.’ ‘The almost 30 percent national growth we were reporting at the turn of the year is now down to just 4 percent, and that is only half the story. ‘Locations such as Wellington, Palmerston North and Dunedin, which saw such meteoric increases in mid to late 2021, have had those capital gains wiped out and are now into negative growth over 12 months – the first time in a decade this has happened in Dunedin.'”

“McCorry said while the numbers were ‘jaw-dropping,’ it was no surprise the regions that had seen the highest rises were now seeing the biggest falls. Auckland QV valuer Hugh Robinson said buyers in the city were being more cautious and FOMO had long gone from the market. Wellington’s residential property downturn continues to ‘snowball,’ with home values declining for the sixth straight month. Home values have declined across the wider region by an average of 12.2 percent over the last six months, with the rate of reduction escalating in recent months – from a drop of 1.6 percent in April, to 2.4 percent in May, 2.8% in June, and now 4 percent in July.”

The Sydney Morning Herald in Australia. “Byron Bay’s property boom has begun to slow down, as new figures show its rate of house price growth has halved and experts say prices could plateau or fall later in the year. Domain chief of research and economics Dr Nicola Powell said there had been a marked slowdown in Byron’s property market. ‘What it illustrates is one, that the boom has eased, that has gone and passed, and two, people who have investment properties, or locals, have decided to sell out because it has been such a lucrative time during the pandemic,’ Powell said. ‘Byron Bay property is certainly on the slowdown.'”

From the BBC. “‘Construction stops, mortgage stops. Deliver homes and get repaid!’ That was one of the chants disgruntled apartment buyers in China used at a protest in June. But their ire over unfinished homes didn’t stop at signs and chants. Hundreds of them stopped paying their mortgages – a radical step for China, where dissent is not tolerated. A young couple who moved to Zhengzhou in central China told the BBC that after receiving the down payment last year, the developer withdrew from the project and construction stalled.”

“‘I have imagined countless times the joy of living in a new home, but now it all feels ridiculous,’ the woman, who did not wish to be named, said. A woman in her late 20s who also bought a home in Zhengzhou told the BBC that she too is ready to stop paying her mortgage: ‘After the project is fully resumed, I’ll continue paying.’ Many of them can pay but are choosing not to, unlike the US subprime mortgage crisis in 2007 when money was lent to high-risk borrowers who then defaulted.”

“Experts believe contagion is the concern now – banks won’t lend if they believe the sector is tanking. ‘It will all depend on policy,’ says Ding Shuang, head of Greater China economic research at Standard Chartered. ‘Unlike in other parts of the world where property bubbles break because of the markets, this is government-inflicted.'”

“This crisis is the clearest indication yet that China’s economy is at a crossroads. ‘The government is trying its best to find new sources of growth but that’s going to be challenging because the economy has been very reliant on property, infrastructure investment and exports over the last three decades,’ said Julian Evans-Pritchard, a senior China economist at Capital Economics. ‘The era of very rapid growth in China is probably now over… and that’s most obvious in the property sector at the moment.'”

Related Posts

Is Buyer’s Remorse The New Normal?

https://www.youtube.com/watch?v=rGY57OEyXIc https://www.youtube.com/watch?v=a3_o15QOf3s https://www.youtube.com/watch?v=2-9rSiXO2iI https://www.youtube.com/watch?v=3mEuqxcMlYI

This Post Has 108 Comments

  1. i love a good snowball in the mornin’.

    ‘‘It was such a remarkably good year that it was going to take a miracle for [sales] to go back up again…It was going to take the continuation of 2% and 3% interest rates, which didn’t happen, of course’

    This is why yer making the big bucks Jim.

    1. I encourage you all to look deeper into Pahrump. Pahrump is one of the greatest stories that isn’t being told. Ben has referenced some eye popping numbers on it today. Pahrump only exists due to a large aquifer that it sits on. The problem is the aquifer is going away and is leading to the official term ‘poof dirt’ that realtors have to warn you about. The dirt under your new house might go poof! A further investigation reveals a very amusing water rights system. Most of the homes have wells or if there is a municipal system it is also technically a well. They are seriously considering seeking water from the nuclear testing range to the north because the aquifer is being depleted so badly. Currently there are no plans to stop building more houses and people are fleeing Las Vegas prices for Pahrump in droves. Pahrump is a ticking time bomb for anyone who mistakenly buys a shack there. The realtor videos from that area are hoot. One of the main selling points is proximity to Death Valley. Serious irritainment!

      1. “The problem is the aquifer is going away…”

        So there must be subsidence issues too, which is very damaging to buried infrastructure.

        1. Youtube has some videos of severely damaged homes there so I imagine you are correct. Pahrump should become one of the first big ghost towns of the west. Would hate to get stucco there.

  2. ‘‘I have imagined countless times the joy of living in a new home, but now it all feels ridiculous,’ the woman, who did not wish to be named, said. A woman in her late 20s who also bought a home in Zhengzhou told the BBC that she too is ready to stop paying her mortgage: ‘After the project is fully resumed, I’ll continue paying.’ Many of them can pay but are choosing not to, unlike the US subprime mortgage crisis in 2007’

    Yer airbox is never going to be built anon. Does anyone still think China needs these to be built? They got 60 million new empty boxes and have for years.

    1. ‘‘I have imagined countless times the joy of living in a new home, but now it all feels ridiculous,’ the woman, who did not wish to be named, said.

      Emotion-based decision-making is no way to buy a house, or to elect “leadership.”

  3. ‘‘The almost 30 percent national growth we were reporting at the turn of the year is now down to just 4 percent, and that is only half the story. ‘Locations such as Wellington, Palmerston North and Dunedin, which saw such meteoric increases in mid to late 2021, have had those capital gains wiped out and are now into negative growth over 12 months – the first time in a decade this has happened in Dunedin’

    Again, the ‘shooting stars’ are sinking like a turd in a well – everywhere. It’s not caused by a CCP virus. It was the insane central bank money creation that’s kicking their a$$es.

    1. It was the insane central bank money creation that’s kicking their a$$es.

      And yet all the pundits, financial shows, politicians, etc. fawn over the central bankers, looking to them for direction? Why don’t these focks ever get fired for poor performance? Look what they did.

  4. Steve Kirsch Breaks The Sound Barrier At FOX: “Hundreds of Thousands Of Americans Have Been Killed’

    One of the most shocking 2 minutes ever aired in the history of Cable TV

    ‘Democrat mega donor Steve Kirsch explains why he’s jumping ship from the Democrat party on Fox with Tucker- “My friends are dying. The most dangerous vaccine ever created by man.”

    https://www.bitchute.com/video/pKrtM4C8MEjT/

    2:20.

    1. I know someone in my small circle who lost his career job over not being vaccinated while others still there have used up their sick leave days feeling too exhausted to come into the office. I’m still upset that my kids caught BA.5 and were really sick despite being vaxxed and boosted.

          1. We refused the whole thing and we’re both fine. Everyone that we know who is vaxxed and/or boosted has gotten very sick. Some of them have been sick multiple times. When we told friends and family that we wouldn’t get vaxxed they treated us like pariahs. Now many of them wished they’d never gotten the shot. Oh well, guess we were right to be afraid.

        2. “Maybe BECAUSE being vaxxed and boosted.”

          They were doing just fine prior to their 4th of July trip to the Golden State.

          2. “See immune imprinting.”

            I try to avoid commenting on subjects I know absolutely nothing about, e.g., legal and medical for starters.

      2. I was a super supporter of vaccines all my life. I took the first two doses of the jab dutifuly but caught on after they started to tell us to keep taking “the boosters” when actually they haven’t come out with a new reforumlated “booster” for all their new and precious variants and subvariants. At least they try their best to update the flu vaccine every year!

        Each time I took that stupid vaccine I got way sicker than I had been for a few years before. But remember they told us “That means it’s working.” Bullshit. Other vaccines might have left a bit of a sore arm and a bump but I never remember shivering and shaking in bed at night after getting one.

        BTW – Had several friends “vaxxed and boosted” who continue to contract it even though they hide out and follow all the protocols.

        I’ve heard it all:

        -The vaccine will prevent transmission and prevent you from catching it
        -No we never said that – it just reduces symptoms
        -Well, it may not reduce symptoms but it will keep you out of the hospital
        -Well maybe it won’t keep you out of the hospital, but at least you won’t die (in the hospital I guess?)

        also an oldie but goodie:

        -Masks are useless – stop buying masks!
        -OK, any old piece of fabric will do. Just fold a t-shirt in to a bandana or something or wear a gaiter
        -OK well now we changed our mind, you have to have a cloth mask that covers your face and nose
        -OK well now get that surgical mask
        -Ok well now maybe you should do a double mask of surgical and cloth
        -OK well now that’s no good, get your KN94 or K95 mask out

        I’m only glad that there’s been a miniscule uptake of the jab for young kids.

        UGH.

        1. But now we’ve got jabbed mothers having children not knowing what gets passed along. This is why you do animal studies. As soon as I heard these jabs skipped those, there was no way in hell my family was getting them.

    2. All of the people who participated in this medical genocide and created this climate of Mass Formation Psychosis have names and addresses.

      They have names, and they have addresses.

      The Day Of The Rope is coming…

    3. I am amazed that the Steve Kirsch segment got aired on Tucker. If you go to Steve Kirsch websites, he has data that supports about a 21% injury rate and 4 to 7 % death rate from the vaccines. These rates are only going to get worse as people get more boosters.
      The good news is that only 3 to 5% in US went to get their 5 and under vaccinated so far, in spite of the hype.
      Ron Johnson the Senator, has written letters to CDC, FDA , thousands of Doctors and Scientists, represented in groups globally have written letters to CDC, FDA, Fauci etc. and they just don’t respond.
      All these Entities are essentially begging these agencies to withdraw the vaccine from the market. They aren’t responding and they are continuing with the “safe and effective” hype, get your boosters, in spite of overwhelming data disputing it.
      As Ron Johnson the Senator was alluding to , these are entrenched Goverment employees, that you can’t even fire, like Dr Fauci. Its a example of unelected deep state gov workers, not having to answer to anyone.
      How do you stop them? They have fake news , with censorship of data and dispute to the narrative.
      The FDA, just approved the new Covid vaccine coming out in fall, without requiring any trials at all. Doctors are shocked . Dr McCullough , in a recent interview , said that there is 40 thousand verified death on Vares, which is usually underreported by 40 to 100 times. The Injury reports are over a mi!!ion.
      So, Big Pharmacy, Bill Gates,etc, has captured these so called protection agencies, and Big Pharmacy bought off news is defrauding the public, for the shot in every arm narrative. And they are not going to stop.
      Even Steve Kirsch took the two shots originally, never dreaming that if they said “safe and effective” it could be the opposite.
      So, its just up to the people to not comply.
      Also, you can see the outrageous overreach with the FBI and Biden’s DOJ regarding the raid on Trump.
      Thanks Steve Kirsch for stating the obvious on such a big news format like Tucker.

    1. The authorities should have acted on these emails. That they’re publicly searchable is inappropriate, IMHO. I would feel creepy perusing them.

      2. That they’re publicly searchable

        Courtesy of Marco Polo, a nonprofit research group, headed by Garrett Ziegler.

        1. We FedGovs have a similar saying: Never put something in an email if you don’t want it on the front page of the Washington Post. FOIA is a real thing.

          1. I once FOIA’ed the texts between County Commissioners at a public Commission meeting (they’re not supposed to text due to Sunshine Laws) . They were all making nasty snide comments about each other as each spoke.

            I then emailed each the nasty ones made by their fellow commissioners.

            It was fun. 😂

    2. 128 thousand emails. Ain’t nobody got time fo dat! How do you view the images folder? Asking for a friend…

        1. Wow, now there is some serious content aggregation! I can’t decide what to click on first. It’s like scrolling thru Wish and it just keeps going and going but I can’t look away. This is how quality internet is done. 🙂

  6. A reader sent these in:

    Reality meet Zestimate

    https://twitter.com/GRomePow/status/1557430783941304321

    Breaking: Yesterday in Henan province, another real estate developer is about to collapse. China’s rea estate economy is imploding 🚨

    Banks are being stuck with mortgages because the loan securitization market is closed, nobody wants their bundles of packaged mortgages.

    https://twitter.com/WallStreetSilv/status/1557470001032056833

    There’s a video at the link.

      1. I might have used $250k as the start from a negotiation point and gone down. From what I understand there are a lot shacks on the market in the Phoenix metro and more on the way…

  7. Oldsmar, FL Housing Prices Crater 26% YOY As Excess, Housing Inventory And Plunging Demand Ravages Gulf Coast Florida

    https://www.movoto.com/oldsmar-fl/market-trends/

    As one national broker explained, “Paying multiples of construction cost (lot, labor, materials and profit) for a rapidly depreciating asset like a 20 year old house is the shortest path to poverty.”

  8. I’d like to see more articles about couples arguing about money. People who bought (i.e. overpaid) in the last few years and are having relationship problems.

    “They’re not sending their best”

  9. So there are a lot of new agents out there and there’s going to be a lot less transactions happening, which means a lot of these agents are not going to be making money to be able to survive,’ Kurt said.”
    Come on now, I have confidence in your skills and I’ll help ya get a job. Follow my lead:
    “Would you like fries with that?” And say it with a smile!

  11. “‘I have to admit, even I am a little shocked at how fast the market decided to change,’ said Patrick Muldoon, a realtor in Colorado Springs.

    But…but I thought the NAR touts realtors as “experts” on local housing markets. No one who’s been paying attention is “shocked” in the least to see the insanely overpriced CoS housing market plummeting back to earth.

    1. Does Patrick Muldoon know who “Jerome Powell” is? He’s the one who “decided” that the market would change.

  12. ‘I’m reminding prospective sellers that we’re not in a housing-market crash; it’s a correction.

    Realtors are liars.

    1. it’s a correction.
      In the defense of the UHS, last time it was a permanently high Plateau, so this is an improvement.

  13. The property initially came on the market for $19.8 million in July 2020, Mansion Global reported at the time. It’s currently on the market with Ms. Green—who was not immediately available for comment—asking $17.75 million, should a buyer want to purchase it before the auction. Bidding opens on Aug. 16 and runs through Aug. 22.”

    Prepare to be disappointed, Greedhead Green.

  14. Yet, it’s the sellers in the North East that are being forced to apply the most significant asking price reductions, typically coming down by 20.5%, followed by the West Midlands (20.4%), Yorkshire & Humber (20.2%), and Wales, (20.2%).”

    Gosh, I’d sure hate to see sellers who bought at the peak of the market having to bring cash to the table to get out from under their alligators.

      1. Remember, this @sshole was never elected to govern anything.

        WEF Adviser Yuval Harari: ‘We Just Don’t Need the Vast Majority of the Population’ in Today’s World:

        “Yuval Noah Harari, historian, futurist, and World Economic Forum (WEF) adviser, said, “We just don’t need the vast majority of the population” in the early 21st century given modern technologies’ rendering human labor economically and militarily “redundant.”

        “Now, fast forward to the early 21st century when we just don’t need the vast majority of the population,” he concluded, “because because the future is about developing more and more sophisticated technology, like artificial intelligence [and] bioengineering, Most people don’t contribute anything to that, except perhaps for their data, and whatever people are still doing which is useful, these technologies increasingly will make redundant and will make it possible to replace the people.”

        https://www.breitbart.com/economy/2022/08/10/wef-adviser-yuval-harari-we-just-dont-need-the-vast-majority-of-the-population-in-todays-world/

        He’s not a U.S. citizen, so an extra-judicial execution needs to happen.

        1. In everyway these psychopaths, like Dr Harari, are transmitting their murder and homicide agenda against what he calls “useless eaters”.
          Technology is to be used to enslave people, hack people, surveillance people, murder people, because they can.
          Imagine technology being used to improve the lives of billions of people, but no, its to be used for the evil agenda of this group of homicidal psychopaths.
          As one Comedian said, ” Depopulation is just another word for “Murder “.”

      2. One in 246 dead, that’s barely 0.4%:

        COVID deaths, right? This is the biggest fraud/mass murder event in the history of the United States.

  16. People priced out of housing living in their cars because the Keynesian fraudsters at the Fed and their vulture fund accomplices have turned shelter – a basic human need – into a speculative asset bubble. F*ck you, “Zimbabwe Ben” Bernanke, Yellen the Felon, and BlackRock Jay.

    Living in My Car | Homeless in California | First Vlog

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

  19. Did the Deep State overplay its hand with the raid on MAL?

    POLL: Mar-a-Lago Raid Backfires Spectacularly on Democrats

    https://pjmedia.com/news-and-politics/stacey-lennox/2022/08/10/poll-mar-a-lago-raid-backfires-spectacularly-on-democrats-n1620067

    We are all waiting to see the next steps establishment Washington takes following the raid at Mar-a-Lago. As details emerge, the reason for the intrusive spectacle becomes less clear. It has undoubtedly divided Americans along partisan lines. However, the obvious political persecution of the former president is drawing some new lines. People notice when you put that kind of banana republic nonsense on top of a horrible economy.

    According to a new poll from Convention of States and Trafalgar Group, the majority of Independents, 53.9%, believe Trump’s political enemies are behind the FBI Raid. They join 76.7% of Republicans who hold the same view. The two groups are also aligned on enthusiasm to vote based on the FBI raid. The spectacle increased the motivation to vote for 83.3% of Republicans and 71.7% of Independents.

    1. Rand Paul is actually concerned about them planting evidence against Trump.
      What do you think the manufactured Russian Dossier was. This was no doubt manufactured to slander and harass Trump for 2 years, so they could put Pelosi back in and make Trump a lame duck to influence the 2018 election, that they probably rigged also.
      Do you really think it would take over two years for FBI to determine that a party in White House was a Russian Operate or not.
      It was all for slander and demonizing value , and cast doubt on Trump.
      Now round two of Deep State assault on Trump.

    2. the reason for the intrusive spectacle

      On the anniversary of Nixon’s resignation, it was meant to send a message.

      1. On the anniversary of Nixon’s resignation, it was meant to send a message.

        If Joe Biden tripped and fell down, and a secret service vehicle accidentally ran over his head and smashed it like a pumpkin, I would laugh out loud. That’s how much respect I have for this filthy, illegitimate figurehead. He signed off on the raid. He is a dangerous psychopath.

  20. Jesse Watters: If you thought Hunter Biden’s business deals were shady, just wait

    Aug 8, 2022

    Fox News host Jesse Watters reacts to Nancy Pelosi bringing her son, Paul Pelosi Jr., on her trip to Taiwan on ‘Jesse Watters Primetime.’

    https://youtu.be/PdSz6wkJo04?t=58

    Nancy Pelosi defends bringing son on Taiwan trip after husband’s DUI charge

    Published August 10, 2022 4:41pm EDT

    House Speaker Nancy Pelosi, D-Calif., on Wednesday defended bringing her son on a recent congressional junket to Taiwan and other Asian countries.

    The speaker was asked by reporters at a Capitol Hill press conference about the presence of her son, Paul Pelosi Jr., on the trip.

    “His role was to be my escort,” she said. “Usually, we [invite] spouses, not all could come, but I was proud he was there.”

    The speaker stressed that her son had no business dealings during the trip, which spanned several Asian nations, including Japan and South Korea

    https://www.foxnews.com/politics/nancy-pelosi-defends-bringing-son-taiwan-trip-after-husbands-dui-charge

  21. “We have been inundated with seller calls… they’ve had a 25-30% increase in such calls.””

    Not happening in my area. I’ve been getting cold calls and cold texts from outfits asking if I wanted to sell my house, or if any of my neighbors wanted to sell their house. If realtwhores are being inundated with calls, then they why are they calling me?

    3. And honestly how many calls do you actually get? Once a month, once a day?

      I don’t get calls. I am in a supposedly “hot neighborhood.” How do the realtors have your numbers nayway….

    4. “They know that things have shifted so they want to know how much their house is going to sell for and if they can get what their neighbor got three months ago,’ said Patty Da Silva, broker with Green Realty Properties in Cooper City, noting they’ve had a 25-30% increase in such calls.”

      I’m not too far from Cooper City and I can tell them if they can get what their neighbor got three months ago.

      No.

      You’ll get much less than your neighbor got three months ago. Look at the growing inventory, days on the market and price drops.

      You only had to go to Econ 101 for the first week like me, you didn’t need $250k of student loan debt to figure this out.

    5. I got a similar inquiry for Poway homeowners via text. The realtor claimed “hav[ing] buyers willing to pay well over asking, with a 30 day close and no contingencies.” My response: “There are plenty of homes on the market for your buyers to overpay.”

      1. Lazy interns mass mailing or shall I say harrasing….there aren’t that many people wanting to pay over the asking these days.

    6. Being inundated with seller calls would tend to show that the market is imploding. I’m not sure why relitters would lie about this.

  22. ‘It may be funny to you, motherf***er’: Beta O’Rourke scolds laughing heckler:

    “O’Rourke, a Democrat, was discussing laws on the books in Texas that allowed the gunman at Robb Elementary School in Uvalde, Texas, to purchase two semi-automatic rifles and hundreds of rounds of ammunition legally on his 18th birthday when he was interrupted by cackling laughter. O’Rourke, who was delivering the speech in the city of Mineral Wells, Texas, responded to the heckler by calling the person a “motherf***er.”

    https://www.washingtonexaminer.com/news/campaigns/beto-orourke-scolds-laughing-heckler

    This soyboi couldn’t punch his way out of a wet paper bag.

    Cold dead hands, in case you forgot…

    1. Butthole O Roarke is just one of those limpwrists you want to throw rocks at…… after delivering a snappy left jab.

  23. Nancy Pelosi’s little boy who went to Ukraine with Mommy on her Taiwan trip is on the payroll of 2 Lithium mining companies. It’s amazing, Taiwan just happens to be a world leader in Lithium battery production. He is also heavily invested in Singapore’s energy sector which was another stop on Pelosi’s trip. South Korea was yet another stop for Nancy and PJ on the heralded trip, well what do you know a couple of months ago one of Paul Pelosi Jr’s companies struck up an EV Battery deal there, I know what you’re thinking, it’s another Festivus miracle!

    Nothing to see here Peons, move along and prepare yourself for an armed audit by one of the new 87,000 IRS hires that answered the IRS Job Listing: Special Agents Must ‘Carry a Firearm and Be Willing to Use Deadly Force’

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

    PS

    It’s a safe bet they won’t be auditing the Biden or Pelosi families.

  26. Deep State gonna Deep State.

    Christopher Wray condemns threats against FBI after Trump Mar-a-Lago raid:

    “FBI Director Christopher Wray decried what he called “deplorable and dangerous” threats against law enforcement in his first public comments since Monday’s unprecedented raid on former President Donald Trump’s Florida residence.

    “I’m always concerned about threats to law enforcement,” Wray told reporters Wednesday following a visit to the FBI’s field office in Omaha, Neb. “Violence against law enforcement is not the answer, no matter who you’re upset with.”

    https://nypost.com/2022/08/11/wray-condemns-threats-against-fbi-after-trump-mar-a-lago-raid/

    Don’t threaten the Feds, kidz, or it’s off to the January 6th gulag you will go 😎

  28. “Most buyers these days prefer to wait for the next one rather than, as they see it, ‘overpay.'”

    Get together your best lowball offer, and be prepared to make it multiple times until some seller finally comes to his senses.

  29. In the last 4 years of Obamas term as President ( 2013-2017) , John Brennan was the CIA Director, a Bill Clinton recommended appointment.

    The only problem is that he was a admitted card carrying Communist, reaching such a high level intelligence position.
    So same Brennan, was the Guy that ended up on CNN all the time as a Expert, supporting the Russian Hoax slander. He also bitched about getting his security clearance revoked by Trump.
    So, when Trump was cleared of Russian Hoax , Brennan was asked why it was different than what he had been alledging for over two years, he said word to effect,
    ” Must of got wrong information.”
    Look at the slander for two years by a Guy in intelligence, who was acting like he had the inside scope on the truth.
    So, it’s not hard for me to believe that the deep state has been infiltrated with Commies and traitors, at the highest levels.
    If we ever get this Country back , a purge is needed of Government agencies.
    The only good Commie is a dead Commie.

  31. Bay Area Real Estate Monthly Market Minute | JULY 2022
    Aug 10, 2022 Here’s the latest #BayAreaRealEstate 🏠#MonthlyMarketMinute ⏳ where I go over the latest sales transaction data from each county for the month of July 2022. We had another decline in transactions, volume, and prices across the Bay. Has our housing bubble finally burst?

    https://www.youtube.com/watch?v=jD7EBVDfhMU

    1:30. He said “you may be in negative equity already.”

    1. “Has our housing bubble finally burst?”

      Nobody was talking about bubbles bursting in the 2007-2009 housing market CR8R event.

      Progress!

    1. The Financial Times
      Cryptocurrencies
      BlackRock pushes into crypto market with bitcoin private trust
      Asset manager to offer investment vehicle only to institutional clients in the US
      Scott Chipolina in London and Brooke Masters in New York 5 hours ago

      BlackRock has announced the launch of a spot bitcoin private trust, deepening a push into digital assets as the crypto industry is recovering from the fallout of a credit crisis.

      The world’s largest asset manager said in a blog post on Thursday that the private trust would be available only to institutional clients in the US, but gave few other details.

      US regulators have repeatedly rejected proposals to offer spot bitcoin exchange traded funds that would be open to retail investors, citing the need for investor protections.
      …

    2. Now that BlackRock is in the picture, is Bitcoin systemically important?

      Yep. “Too big to fail” has just arrived for crypto.

    1. Yahoo
      Bloomberg
      Powell Needs to Speak Up to Stop Ill-Fated Market Rally, Strategist Says
      John McCorry, Guy Johnson and Alix Steel
      Thu, August 11, 2022 at 7:57 AM·1 min

      (Bloomberg) — Principal Global Investors’ Seema Shah is no stock market bull but says the rally that erupted Wednesday may continue until the head of the Federal Reserve steps up and stops it.

      “The market is underestimating the risks out there,” the firm’s chief strategist said in a Bloomberg Television interview on Thursday. “They need that catalyst to remind them, and that has to come from Jerome Powell.”

      Stocks extended their gains a day after the benchmark S&P 500 index reached a three-month high. Investors seized on Wednesday’s report showing consumer-price data on inflation in July decelerated by more than expected to anticipate the Fed will slow an interest rate-hike regime that’s pummeled financial assets this year.

      A report showing an unexpected decline in US producer prices last month added to the optimism on Thursday. The positive investor sentiment came despite central bank officials, led by Minneapolis Fed President Neel Kashkari, saying the Fed will likely keep raising rates to cool the hottest inflation in four decades.

      “You always need to bring the big guns out,” said Shah. “We need Powell to speak. Until he speaks the market rally can keep going. Momentum can take you far. I don’t believe in the sustainability of this rally, but can it go further? Yes.”
      …
      https://finance.yahoo.com/news/powell-needs-speak-stop-ill-175739096.html

    1. Popping The Housing Bubble may be the best thing the Fed has ever done to stimulate the US economy. A whole generation of Millennials and GenZs who were priced out of housing by The Housing Bubble now have hope to someday become homeowners.

    1. The Financial Times
      Fund management
      Asset managers bet big on crypto despite market rout
      Abrdn, BlackRock and Charles Schwab have done deals or launched products tied to digital assets this month
      The Abrdn office in Edinburgh
      Abrdn, the £508bn-in-assets fund manager, bought a stake in UK digital assets exchange Archax
      Laurence Fletcher and Scott Chipolina in London and Brooke Masters in New York 4 hours ago

      Big-name money managers are stampeding into digital assets, finding new ways to monetise investor interest even as trading volumes and prices for bitcoin and other cryptocurrencies have slumped.

      FTSE 100-listed Abrdn this week became the latest investment house to take the plunge, by buying a stake in a regulated UK digital assets exchange Archax. The stake will allow the £508bn-in-assets fund manager a board seat and represents a bet that Archax’s technology will underpin how funds, shares and other securities are traded in future.

      Abrdn’s investment, which has not been previously reported, comes as BlackRock, the world’s largest money manager, has not only announced plans for a spot bitcoin trust for institutional investors but also agreed to link its Aladdin technology platform to the Coinbase crypto exchange. The latter move should ease the way for the 82,000 investment professionals that use Aladdin to offer clients access to bitcoin.

      Meanwhile Charles Schwab, the US broker and investments group, last week launched an exchange traded fund aimed at giving investors exposure to crypto without actually buying the currencies. And UK asset manager Schroders bought a stake in digital assets manager Forteus in July.

      While Fidelity has been offering digital asset custody services for nearly five years and in April added a bitcoin option to its retirement offerings, this summer’s activities signal a broader acceptance of digital assets, market analysts said.

      “Large asset managers are starting to consider this a real investment,” said Chris Brendler, a senior research analyst at DA Davidson. “I think it’s a major data point in terms of traditional asset management companies embracing what really for years has been almost ridiculed.”

      BlackRock founder Larry Fink used to be among the sceptics, quipping in 2017 that “bitcoin just shows you how much demand for money laundering there is in the world”.

      The new digital offerings come after digital assets endured a brutal market sell-off that has cut the total market capitalisation of cryptocurrencies from about $3.2tn in November to less than $1tn.

      But Charley Cooper, managing director at blockchain firm R3 and a former top staffer at the US Commodity Futures Trading Commission, argues that the fact that they went ahead represents a vote of confidence. “Deals like this are not thrown together last-minute. These things have been in the works for months if not years . . . It’s not like they decided to do it on the fly.”

      That is what concerns consumer groups. “Just because top-tier companies want to make money from something new, that doesn’t make it a good thing to do,” said Dennis Kelleher, head of Better Markets, an investor advocacy group based in Washington. “That volatility would normally be a red flag warning.”
      …

    2. Here are a few highlights:

      “(Section 4.(vii)(c) The Chairman of the Board of Governors of the Federal Reserve System (Chairman of the Federal Reserve) is encouraged to continue to research and report on the extent to which central bank digital currencies (CBDCs) could improve the efficiency and reduce the costs of existing and future payments systems, to continue to assess the optimal form of a United States CBDC, and to develop a strategic plan for Federal Reserve and broader United States Government action, as appropriate, that evaluates the necessary steps and requirements for the potential implementation and launch of a United States CBDC. The Chairman of the Federal Reserve is also encouraged to evaluate the extent to which a United States CBDC, based on the potential design options, could enhance or impede the ability of monetary policy to function effectively as a critical macroeconomic stabilization tool.”

      SNIP

      “Section 5.(b)(vii) Within 180 days of the date of this order, the Director of the Office of Science and Technology Policy, in consultation with the Secretary of the Treasury, the Secretary of Energy, the Administrator of the Environmental Protection Agency, the Chair of the Council of Economic Advisers, the Assistant to the President and National Climate Advisor, and the heads of other relevant agencies, shall submit a report to the President on the connections between distributed ledger technology and short-, medium-, and long-term economic and energy transitions; the potential for these technologies to impede or advance efforts to tackle climate change at home and abroad; and the impacts these technologies have on the environment. This report shall be coordinated through the interagency process described in section 3 of this order. The report should also address the effect of cryptocurrencies’ consensus mechanisms on energy usage, including research into potential mitigating measures and alternative mechanisms of consensus and the design tradeoffs those may entail. The report should specifically address:

      (A) potential uses of blockchain that could support monitoring or mitigating technologies to climate impacts, such as exchanging of liabilities for greenhouse gas emissions, water, and other natural or environmental assets; and

      (B) implications for energy policy, including as it relates to grid management and reliability, energy efficiency incentives and standards, and sources of energy supply.”
      …

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