A Crazy Real Estate Market For Too Long Is A Formula For A Crash

1. ‘some sellers would come to you they want to get top dollar for their property obviously they want the most money that they can get in so if they want X number then you can throw it out there for that crazy number and more than likely you’re going to have people coming in and paying that or offering beyond that’

   Sound lending!

   ‘‘I would say, you know, 60% of our market is second-home owners…And the majority of them can’t afford it without offsetting the cost’

   Morer sound lending!

   1. “I’m afraid we’re going to see a lot of people filing bankruptcy or not be able to pay their mortgages,’ Clark said. ‘How many people are going to be sitting on homes with no equity, in fact, negative equity in the home?”

      Wait,….what? Makes no sense. What does equity have to do with paying one’s mortgage? Affordability is based on loan amount and rate. Once that is established it shouldn’t matter what happens to the value of your home. Comments like this show how out of whack our view of housing has become.

      1. “Wait,….what? Makes no sense.”

         There is a huge secondary market for mortgage debt, and the rankings for quality of that debt (risk) look at the amount of equity the homeowner has developed over the years. Naturally those who owe more than the home’s current market value are at the bottom of the rankings, i.e., the highest risk of default.

      2. Deadbeats made the same argument when the previous crash hit.

         1. They walked across the street and bought the same house for less than they owed on the first one. No argument needed.

2. Realtors are liars.

3. ‘falling from $980,000 to $950,000. Jeff Tanaka, a sales manager with Envoy Mortgage in Cambria advised buyers looking to get into a home in SLO County to find lower down payments that work for their budget. ‘Most buyers are under the impression that they have to have a 20% down payment’ to purchase a home, Tanaka said. ‘That’s just not accurate in our county. We have programs where they could come in with as little as 3% or 5% down payments’

   Why is this dangerous? Cuz 5% can get wiped out in less than a month. Good luck subprimers, yer gonna need it.

   Think about this: inflation is more than double guberment backed mortgage rates. Prices sinking like a turd in a well, and they are handing out a million bucks with 3% down?

   1. There is something very interesting going on in that prices are starting to decline in formerly hot markets where the inventories are still at levels that historically favor sellers. Cities where there is only three months of inventory are seeing steep month over month price declines. What will it look like when there is 6+ months of inventory in the slow winter months?

      This seems to be a feature of every bubble. There are things people say can’t happen because they never happened before. And then boom….the impossible all of a sudden is possible. Even real estate skeptics would have not predicted what is happening…prices declining where there is only 2-3 months of inventory.

      The deterioration is happening much faster than 2005-2007.

      1. ‘only three months of inventory are seeing steep month over month price declines’

         I’ve talked about this a little bit. When did they set the 6 month thing is balanced. Before I had this blog. Nowadays people know if a shack sells or lists or drops the price the same day. It’s obvious the REIC is clinging to outdated artificial measurements. Oh, it’s a sellers market in Brampton! Sure.

4. ‘In February 2021, the BoC Governor was asked if the market was overheating. ‘I think right now the economy is weak… I think we need the support. We need the growth we can get,’ replied the Governor’

   Better Dwelling was the blog that broke this story and the rest of K-dn media ignored it. Yes, they did this on purpose. They use shack loans to funnel phony money into the hands of weak minded borrowing gamblers. Oh they know what they were doing alright. And now we got a big sh$t sandwich. The question is, is this part of the ‘you’ll own nothing’ plan?

5. The New York Times is globalist scum media.

   New York Times — A Migrant Wave Tests New York City’s Identity as the World’s Sanctuary (8/20/2022):

   “The influx of migrants to the city this spring and summer, most fleeing crime and cratering economies in Central and South America, has tested New York’s reputation as a world sanctuary. And it shows no sign of slowing, thanks in part to Gov. Greg Abbott of Texas, whose decision to send busload after busload to Washington and New York to goad Democrats on border policy has helped turn the normal north-flowing river of humanity into a wave.”

   They’re not “migrants” it’s a criminal invasion.

   “The delivery of 129 migrants to the Port Authority Bus Terminal on Wednesday was the biggest one-day total so far in Mr. Abbott’s campaign. But it was just part of the larger migration of thousands: According to the city, the shelter system now houses 4,900 asylum seekers.”

   This is what New York City voted for.

   “They are the chief reason, the city says, that the population of the main homeless shelter system has jumped by 13 percent since May, to 51,000.”

   https://archive.ph/rmQl5

6. ‘Many local real estate agents and officials with the Austin Board of Realtors say the local market is merely ‘stabilizing’ and ‘normalizing’ from its previous frenzied levels — a positive sign, they say, because the red-hot market was neither healthy nor sustainable’

   They never say these things when they are sticking money in their pocket hand over fist. Odd that.

7. Citrus Heights, CA Housing Prices Crater 17% YOY On Soaring Mortgage Defaults And Plunging Rental Rates Across Sacramento Area

   https://www.movoto.com/citrus-heights-ca/market-trends/

   As one renown economist explained, “The number one cause of personal bankruptcy in the US is the 15 and 30 year mortgage.”

   1. Lol, you say it’s the mortgage, Pocahontas says it’s medical debt, but the real reason is credit cards.

      1. +1000

8. ‘A crazy real estate market for too long is a formula for a crash, not just a cooling period of time’

   Right oh Tim! But just what is too long? 10 years? More? The US markets tried to roll over in 2014. Mel Watt stopped that. Again with the ebola! in 2018 (which came after rates rose slightly) which was ended by the CCP virus central bank money avalanche and nobody has to pay anything anymore bull sh$t. You guys really fooked up this time. The only silver lining is these dogs are actually being blamed.

   1. The other silver lining is that rampant inflation has become a priority over implementing yet another hair-of-the-dog housing market hangover cure.

9. ‘They’ll be house locked,’ he said. ‘So we will naturally see homes come off the market, we will see a slower transactional market. That is unless we get a recession with job loss, then all the cards are laid out’

   How did you lose yer shack mate?

   Well, the cards were laid out.

   1. job loss

      return to the office, transfer, divorce, death…things happen.

      1. return to the office, transfer, divorce, death…things happen.
         Exactly, you get transferred (I was 4 times in my career) and what are you going to do? Have 2 homes to pay for when one was taking 40% of you income? Don’t think you are holding it too long.

         1. Transfer? Maybe in the old days. If you’re an individual contributor you don’t get transferred anymore, especially in this age of remote workers and Zoom meetings.

            1. Some of us worked on things not so virtual.

            2. Some of us worked on things not so virtual.

               I’ll agree that some jobs simply cannot be done remotely. But even VPs where I work do not move. Usually their org charts span several countries. Where would they move? Why bother?

10. The Washington Post is globalist scum media.

    Washington Post — Lawmakers demand data about online threats against law enforcement (8/19/2022):

    “House Oversight Committee leaders are demanding social media companies take “immediate action” to address a flood of violent online threats against law enforcement, following the FBI’s search of former president Donald Trump’s Mar-a-Lago estate.”

    Note that Twitter, Facebook, Reddit, YouTube not only allow, but actively promote the organized political violence of Antifa and Burn Loot Murder.

    “The lawmakers on Friday sent letters demanding details about the number of threats against law enforcement to the executives of eight social media companies, ranging from the Facebook parent company Meta to the fringe right-wing platform Gab. The letters cite a “spike in social media users calling for civil war” and other violence against law enforcement after Trump and some Republican members of Congress lashed out against the FBI.”

    Don’t threaten elected officials or feds because you will end up in the January 6th gulag.

    “Law enforcement leaders have been sounding alarm about threats to federal agents for a week, as top GOP leaders have accused the FBI, without evidence, of carrying out a politicized attack on Trump. The politicians have tapped into long-running hostility among Trump and his followers toward arms of the federal government, which some call the “Deep State.” The FBI and Department of Homeland Security issued a joint bulletin last week warning about an “increase in violent threats posted on social media against federal officials and facilities.”

    https://archive.ph/VcORS

    Trump won the 2020 election.

    The 2020 election was stolen from Trump, by the domestic terrorist organization the Democrat Party.

    And President Trump was, in fact, correct when he stated that “the media is the enemy of the American people.”

    1. More globalist scum and lies and propaganda.

       Washington Post — Election deniers march toward power in key 2024 battlegrounds (8/15/2022):

       “The winners fit a pattern: Across the battleground states that decided the 2020 vote, candidates who deny the legitimacy of that election have claimed nearly two-thirds of GOP nominations for state and federal offices with authority over elections, according to a Washington Post analysis.”

       The 2020 election was stolen.

       “Had those candidates held power in 2020, they would have had the electoral clout to try something that the current officeholders refused: overturning the vote and denying Biden the presidency.”

       The 2020 election was stolen.

       “But the experts agree on one thing: A close presidential contest that comes down to the outcome in states where officials are willing to try to thwart the popular will could throw the country into chaos. It would potentially delay the result, undermine confidence in the democratic system and sow the seeds of civil strife on a scale even greater than what the nation saw on Jan. 6, 2021.”

       Undermine confidence in the democratic system? 80+ million voters were undermined in 2020 when the election was stolen.

       “It could easily lead to a situation where a significant portion of the electorate in those states will never believe the election was legitimate even if the courts step in and ensure that the lawfully elected winner is in fact certified as the winner,” said Richard Pildes, a constitutional law professor at New York University. Such a situation would be “destabilizing,” Pildes added, because the legitimacy of democracy ultimately depends on its citizens believing that elections are fair.”

       https://archive.ph/aGmKq

       The Washington Post does not support or believe in “the legitimacy of democracy” because they are globalist scum media.

       1. Yeah, like butt hurt Liz who mentions democracy every third word but got her a$$ kicked in an ELECTION!

          1. She got beaten so badly that any rational human being suffering such a fate would slink away in shame, and lay low a while. Instead, she and her psychotic enablers are trying to parlay her embarrassing defeat into a Presidential run.

       2. From what I have seen, the Globalist Cults break the laws, than act like it was long standing law.
          Discrimination laws have been on the books for decades, but now it ok to discrimate against white race in hiring , and discrimination against whites in school brainwashing.
          The justification for discrimination against whites is that in the Nations history slavery was legal , and in spite of slavery being abolished by 1868 , whites are bad . White children who never had a slave are to be punished for a practice that was stopped after horrible Civil War.
          You must hire base on diversity, while whites are excluded from being hired.

          What do you think the methods by Hitler was in step by step taking all rights of the Jewish population in Germany!
          First Jews weren’t allowed in public schools, or public pools etc. Than they went after their businesses and they were fired from Gov jobs etc . Than after they destroy their ability to engage in Commerce, they were rounded up and put in ghettos. Next stop the killing camps.
          Group demonizing is a weapon to isolate a group and blame them for all ills of society , so they can be punished or eliminated.
          Today examples of this targeting is,
          White race
          The unvaccinated
          Republicans
          Trump supporters
          De-funding of Police
          Christians
          Patriot
          Guns and free speech
          Fossil fuels, cows, co2 emissions
          Climate Change deniers
          on and on .
          Than glorification of other groups, examp!es,
          The Democrats / Gov knows what’s best
          Illegal immigrants
          The vaccinated
          Gov workers
          Big Pharmacy/ Medical system
          Technology/ Science
          Climate Change and Pandemics.
          Bugs and fake food
          Criminals , Antifa, peaceful looters
          Expiermental fake vaccines
          Transgenders
          Dr Fauci
          Communism/ fascist
          Corporate Governance and UN governance
          CDC, FDA, WHO, Gov health agencies.
          Fake news controlling disinformation.
          Unreal

11. ‘The nonbanks are poorly capitalized…When the mortgage market tanks they are in trouble’

    Now Nancy, don’t be such a doom and gloomer. They’ve got those rented phones. Coffee makers. Desks, chairs, ficus trees, don’t forget the ficus!

    March 26, 2020

    “As America heads into a deep recession, the $11 trillion residential-mortgage market is in crisis. Investors who buy home loans packaged into bonds are dumping even those with federal backing because of panic that millions might not make their payments. Yet one risky sector had started to show cracks long before the coronavirus pandemic sparked the worst financial meltdown in 12 years: the federal government’s largest affordable-housing program, whose lenient terms are geared toward marginal borrowers.”

    “As real estate prices soared in recent years, working-class adults everywhere have increasingly relied on mortgages backed by the Federal Housing Administration — and U.S. taxpayers. Since 2007, the FHA’s portfolio has tripled in value to more than $1.2 trillion, almost 11% of the market. While private lenders make these loans, they are packaged into Ginnie Mae bonds, common in mutual funds and pensions.”

    “Before Covid-19 started roiling China, a November FHA report found that 27% of borrowers last year spent more than half their incomes on debt, a level it describes as ‘unprecedented.’ The share of FHA loans souring in their first six months has doubled over the last three years to almost 1%.”

    “Not long ago, Alex Castillo drove his shiny black Infiniti SUV through an office park north of the San Antonio airport, along a busy seven-mile stretch of highway that loan officers call ‘Mortgage Row’ because of its abundance of small independent mortgage companies that dominate FHA lending. Castillo, who has the words ‘The Dream Starts Here’ stitched into his jacket, works for Pennsylvania-based American Residential Lending. Oddly, amid the pandemic, his business is booming. His customers locked in FHA mortgages after interest rates plunged this month — adding to federally backed mortgage debt.”

    “‘If the government tells me you’re good enough to get a loan, I have to trust and believe in the government,’ Castillo said. ‘Then we just hope and pray that the client doesn’t get foreclosed on.’”

    “In downtown San Antonio, scores of investors stood on a parched lawn beside the city’s historic granite-and-red-sandstone courthouse. It was the first Tuesday of February, the day of the foreclosure auction. Matt Badders, a San Antonio lawyer who represents lenders, auctioned off two houses. The failed mortgages remind him of the run-up to the financial crisis 12 years ago, when lending to customers with spotty credit nearly brought down the world’s financial system. ‘We’re almost back to 2007, when mortgage originators are waking people up on park benches, saying sign here,’ Badders said.”

    “At the auction, the crowd bid on 338 homes, a third with FHA mortgages, according to Roddy’s Foreclosure Listing Service. One house had dual master bedrooms, a game room and granite kitchen counters. It sold for $202,000 — $52,000 less than the homeowner borrowed only two years ago. The taxpayer-backed FHA insurance fund will take a loss.”

    “Dave Stevens, FHA commissioner under President Barack Obama and former chief executive officer of the Mortgage Bankers Association, said a recession will expose hidden risks in home lending. ‘This should be an alarm bell to policymakers,’ Stevens said. ‘Sometimes you get blinded by a good economy and suddenly look at it and see a bubble of defaults coming.’”

    “The federal government has decided it doesn’t want to pursue — and has asked a judge to dismiss — a lawsuit against Utah-based Academy Mortgage Corp. The judge refused. The suit claims the company’s staff would repeatedly feed information into an automated federal underwriting system, manipulating it until the computer gave the green light. ‘Decline is a curse word,’ Plaintiff Gwen Thrower, a former underwriter, quoted a manager as saying. ‘We don’t use it.’”

    http://housingbubble.blog/?p=3070

    1. I had a realtor tell me that everyone wants FHA loans. He said that because we have approval for a conventional loan we can pretty much have whatever house we want.

12. has anyone noticed the help wanted signs disappearing? I still see them at stores, manual work jobs.

13. Note that you will get more truth reported from Russian state media than you will from the New York Times or Washington Post, because the New York Times and Washington Post are globalist scum media.

    Russia Today — Most Americans see FBI as ‘Biden’s Gestapo’ – poll (8/20/2022):

    “More than half of respondents in a new survey have said they view the FBI as US President Joe Biden‘s “personal Gestapo,” reflecting increasingly polarized views about the federal policing agency’s hounding of former President Donald Trump.”

    The 2020 election was stolen.

    “A Rasmussen poll published on Thursday showed a deep split in Americans’ attitudes toward the FBI, with 44% of respondents saying the recent raid on Trump’s Florida home made them lose trust in the bureau.”

    Trump won the 2020 election.

    “Asked about previous comments by former Trump adviser Roger Stone – who said “politicized thugs at the top of the FBI” are using the agency as “Joe Biden‘s personal Gestapo” – a majority (53%) agreed, including 34% who concurred “strongly.” The 53% figure is up from 46% last December”

    https://www.rt.com/news/561192-fbi-biden-gestapo-poll/

14. ‘If that home originated at 80% in June 2022, it would have a 111.0% LTV. Not great for a first mortgage, but also wouldn’t break the bank on foreclosure. A second mortgage, however, could be a total loss under those same order of events’

    Gosh, this sound lending is tricky.

15. Oldmar, FL Housing Prices Crater 21% YOY As Fraud Riddled Tampa And Gulf Coast Housing Market Staggers

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

    As one national broker explained, “There is no crisis…. in falling housing prices.”

16. ‘How many people are going to be sitting on homes with no equity, in fact, negative equity in the home? So, that’s one of my biggest concerns about the market. I worry about some of my clients that I’ve had because they were so desperate to get a home’

    You could give them their money back Amy.

    Oh hell no!

    1. “I worry about some of my clients”

       No you don’t. You know what you did(many times over). You’re worried about you. I would bet too if I were you.

17. A reader sent these in:

    Basically Zestimates are just making sh$t up

    https://twitter.com/GRomePow/status/1560707993645170688

    Zillow is the Jim Cramer of home price forecasts

    https://twitter.com/NipseyHoussle/status/1560706889134080000

    It’s worse than that @GRomePow. Zestimates were always a wild guess, and we’ve lived with that. But it is blatant fraud when Zillow recalculates the zestimate to within pennies of the list price when a new listing hits the market. Redfin does it too. It should be criminal.

    https://twitter.com/Bubbleinfo/status/1560709369871757312

    Ryan Lundquist

    “Be happy and stop checking your Zestimate every day.” That’s what I told a homeowner this week who is worried about price declines. Do what you need to do with your home, but no matter what, don’t let your home value dictate your emotions or contentment in life.

    https://twitter.com/SacAppraiser/status/1560719338197307392

    New in-depth FedFin report: @FannieMae
    is proposing an index to judge MBS social-impact, opening mortgage finance still more significantly into the ESG market.

    https://twitter.com/KarenPetrou/status/1560687378175508480

    Stephen Punwasi 🌋 🚀

    lol. Want to know how low rates drive inequality? This is the most brilliant summary of a complex issue, revealing central bankers either have no clue how the world works, or they’re playing dumb while looting a generation.

    https://twitter.com/StephenPunwasi/status/1560458038288465920

    “Housing-Sensitive Retail is Set for a Pounding Over the Next Year” @IanShepherdson

    https://twitter.com/PantheonMacro/status/1560578627204440064

    New Zealand – REINZ Housing Price Update (July)

    Prices month on month (since peak):

    – National -1.4% (-10.9%)
    – National (ex-Auckland) -0.6% (-7.4%)
    – Auckland -2.6% (-15.6%)
    – Wellington 0.0% (-17.0%)

    All markets are falling much faster than the U.S during the GFC recession

    https://twitter.com/AvidCommentator/status/1560461131097190401

    1. ‘Do what you need to do with your home, but no matter what, don’t let your home value dictate your emotions or contentment in life’

       via GIPHY

    2. Basically Zestimates are just making sh$t up

       It’s a response to SoCal Jim!

       1. I actually like reading SoCal Jim’s comments.

18. This is a Mass Formation Psychosis article.

    The Guardian — Most have thrown their hands up: has the US forgotten about Covid? (8/19/2022):

    “Despite signs that indicate the latest Covid-19 surge is slowing down, an average of 400 deaths in the US is still reported on a daily basis.”

    They’re not dying from CCP Flu, they’re dying from the “vaccines” that are not vaccines.

    “Various mask and social distancing mandates across the country are becoming anything but strictly enforced.”

    Clutch those pearls harder, globalist sh*tbags.

    “Currently, only 67% of the US population are considered fully vaccinated. Moreover, only 32% of the population have received a booster dose. Healthcare officials have repeatedly stressed the effectiveness of vaccines in mitigating Covid-19. However, vaccine hesitancy as a result of misinformation, wariness and other factors continue to hold many back.”

    Misinformation? This isn’t Facebook, this isn’t Twitter, this isn’t Reddit, this isn’t YouTube, we have uncensored discussions about what the scamdemic really is: a medical genocide.

    “Earlier this month, Dr Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, warned individuals that if they are not up-to-date with their vaccines or booster shots, they will experience a difficult fall and winter.

    “If they don’t get vaccinated or they don’t get boosted, they’re going to get into trouble”

    https://www.theguardian.com/us-news/2022/aug/19/us-covid-cases-mandates-deaths

    All trust in the Health Care / Big Pharma Industrial Complex has been shattered, because the truth is now known that this is, in fact, a medical genocide.

    And don’t make threats against Fauci because you will end up in the January 6th gulag.

    At the conclusion of Nuremburg Trials v2.0 he will be escorted from the courtroom to the gallows, the noose will be placed around his neck, the trap door will swing open, and he will die for the consequences of his participation in a medical genocide.

    The Day Of The Rope is coming…

    1. Facebook and Instagram are globalist scum social media.

       Facebook and Instagram remove RFK Jr.’s anti-vax nonprofit for promoting misinformation (8/19/2022):

       “During the COVID-19 pandemic, anti-vaxxers have been, to a large degree, far-right MAGA Republicans and evangelical Christian fundamentalists”

       Globalism = genocide Christianity.

       “one well-known Democrat who is known for his anti-vaxxer views is Robert F. Kennedy, Jr., who now finds himself at odds with Facebook and Instagram for spreading what those social media outlets consider misinformation.”

       CCP Flu “vaccines” are not vaccines. They are designed to kill and maim millions of people.

       “Kennedy leads the Children’s Defense Fund (CDF), a nonprofit anti-vaxxer group. And on Thursday, August 18, its accounts were removed for both Facebook and Instagram”

       Employees of Facebook and Instagram are complicit in a medical genocide.

       “Kennedy, in an official statement, complained, “Facebook is acting here as a surrogate for the federal government’s crusade to silence all criticism of draconian government policies.”

       Kennedy speaks the truth.

       “Robert F. Kennedy, Jr.’s views put him at odds with many of his fellow Democrats, and vaccine proponents have accused him of spreading dangerous misinformation about COVID-19 vaccines — which they credit with saving lives.”

       https://www.alternet.org/2022/08/rfk-jr-nonprofit-facebook-instagram/

       COVID vaccines do not save lives, they end lives.

       1. This is a urine soaked mattress article.

          The Atlantic — How to Plan for the Future When COVID Isn’t Going Away (8/19/2022):

          “I can’t keep putting my life on pause while I wait for the pandemic to end.”

          Happy 29 month anniversary of “two weeks to flatten the curve” jack@ss.

          “People in the U.S. have heard this story repeatedly over the past two and a half years, the media and government casting the downturn of each surge or advent of each therapeutic as the ladder that would soon carry us from the hole of the pandemic.”

          Have you considered spending the rest of your life alone, indoors, wearing a mask?

          “Despite stunning progress in vaccines and drugs, COVID still threatens to hospitalize or disable me, and I don’t foresee that reality changing imminently. While the mirage of normalcy recedes, glittering and unattainable, I remain marooned in another desert, staring down the truth that a sense of closure won’t arrive anytime soon.”

          Life has a 100% mortality rate, snowflake.

          “I’m learning what it’s like to embody a less comfortable story than the one others are telling. I walk by packed bars. I scroll through photos of maskless crowds at concerts. I hear people use the phrase “during the pandemic,” as if it’s ended.”

          Mass Formation Psychosis.

          “I still seethe whenever I show up to an event that’s too overcrowded and underventilated for me to stay, or board a plane where the overturned mask rule reminds me of the nation’s disregard for my health.”

          https://archive.ph/5VrdD

          Seethe harder, Lindsay.

          1. I had the rona almost a year ago. The “experts” claimed that the natural immunity I acquired would NOT provide me with protection against new strains. Yet I have not worn a mask all year, have been in crowded indoor places and I haven’t got sick, while my jabbed sister did get sick.

             1. My family has survived it twice.

             2. “Yet I have not worn a mask all year,..”

                Still helping to care for my elderly neighbor I continue to “mask” in public indoor spaces.

                A couple of days ago, my wife said, “Come outside” while putting her index finger upright to her lips for me to be quiet. We could smell tobacco and hear our elderly neighbor simultaneously coughing and enjoying a cigarette!

    2. “Various mask and social distancing mandates across the country are becoming anything but strictly enforced.”

       I was on vacation earlier this month. I didn’t see any mask mandates anywhere Not at the airport, not on the airplane and nowhere at my destination.

       Of course, I didn’t go to Clownifornia for my vacation.

19. The Associated Press is globalist scum media.

    Associated Press — Joe Biden To Host Unity Summit Against Hate-Fueled Violence In September (8/19/2022):

    “The White House announced Friday that Biden will host the United We Stand Summit on Sept. 15, highlighting the “corrosive effects” of violence on public safety and democracy.”

    Remember, if you walked into the Capitol building on January 6th, you will end up in the gulag with no charges and no legal representation.

    If you participate in Antifa / Burn Loot Murder organized political violence, including homicide, you will not spend a day in jail, and all globalist scum social media platforms will allow, and promote, GoFundMe and other fundraising accounts to enrich you.

    “Biden will deliver a keynote speech at the gathering, which the White House says will include civil rights groups, faith leaders, business executives, law enforcement, gun violence prevention advocates, former members of violent hate groups, the victims of extremist violence and cultural figures.”

    Translation: anyone to the right of Stalin needs to get genocided.

    “What’s important to us is addressing mental health, gun control reform, addressing misinformation, disinformation and malinformation”

    Misinformation = New York Times
    Disinformation = Washington Post
    Malinformation = Associated Press

    https://www.huffpost.com/entry/joe-biden-unity-summit_n_62ff94b1e4b0a85a819b67d9

    Aim for the Blue Checkmarks 🙂

20. Half-deNazified: Daniil Lyashuk, known for his atrocities against the civilian population of Donbass

    https://www.bitchute.com/video/BhBKNNf7ti50/

    16 seconds.

    1. Your federal income taxes are paying for this.

       1. 57% of US households paid zero federal income tax in 2021 per non-partisan Tax Policy Center.

          1. Is FICA an income tax?

             When the government debases the currency, anyone with a penny in their pocket is paying a tax.

             1. They conveniently refer to FICA as a “payroll” tax.

    2. Hopefully he lost his reproductive abilities.

21. “They lied to us about the mRNA shots” ~ Ron DeSantis, Florida Governor

    https://www.bitchute.com/video/2cKubLopn5u6/

    1:23.

    1. Ok , I’m game for the Governor of Florida to run for Pres in 2024.

       1. You might want to know about his views on foreign affairs first. I don’t think we have enough information on that.

          1. Any conservative viewpoint beats the he** out of the Democratic positions! Stop over thinking it.

             1. DeSantis isn’t perfect, but I would choose him over any RINO.

          2. RPRH
             We know plenty about Ron’s foreign views down here in Florida.

             1. PS. Rin is perfect. Flawless governance so far.

          3. IMHO, DeSantis has been unwise with his handling of Corona money. He’s been taking it and throwing it at small towns in Florida. I’m not a huge fan of Rick Scott, but I think RS was right when he said DeSantis should have sent that money back to the federal government and told them to shove it up their potty holes.

22. – Two key posts from today:

    1) From Yahoo Finance. “‘Housing used to be a very stable asset class and now it’s extremely volatile,’ Glenn Kelman, CEO at Redfin, told Yahoo Finance. ‘One reason is that institutions used to account for about a quarter of the sales, but now it’s about a third. You have real estate investment trusts (REITs) all active in the single family home market.’”

    2) From one of Ben’s posts: “Better Dwelling was the blog that broke this story and the rest of K-dn media ignored it. Yes, they did this on purpose. They use shack loans to funnel phony money into the hands of weak minded borrowing gamblers. Oh they know what they were doing alright. And now we got a big sh$t sandwich. The question is, is this part of the ‘you’ll own nothing’ plan?“

    – So this RE plague of central bank, .gov, REIC, and the FIRE industry virus spread throughout the OECD developed world, financializing the global housing market and turning entire nations into degenerate gamblers. This is what used to be shelter; a place to live.

    – Central banks are private institutions. They work for their owners, which is capital (banks and corporations), or the 1%. The don’t give a whit about labor – largely the working, middle, and lower classes, so say the 99%.

    Finally, conspiracy theory, or an even more sinister and nefarious purpose of the Federal Reserve System?

    The Ten Planks of the
    Communist Manifesto
    1848 by Karl Heinrich Marx

    1. Abolition of private property in land and application of all rents of land to public purpose.

    2. A heavy progressive or graduated income tax.

    5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.

    “The Federal Reserve System, created by the Federal Reserve Act of Congress in 1913, is indeed such a “national bank” and it politically manipulates interest rates and holds a monopoly on legal counterfeiting in the United States. This is exactly what Marx had in mind and completely fulfills this plank, another major socialist objective. Yet, most Americans naively believe the U.S. of A. is far from a Marxist or socialist nation.”

    – Wealth and income inequality continues to rise as what’s left of the middle class is squeezed into the lower class. This is neo-feudalism. “You will own nothing and like it.”

    – BTW, governments are on board with this, else regulators and representatives in Congress (speaking for the U.S.) would be actively preventing it. And yet, here we are. This is what regulatory capture and crony capitalism looks like in spades. Banana republic stuff. Government is not your friend. The mainstream media (MSM), aka the propaganda arm of the D party and the deep, administrative state, is not your friend. The Second Amendment is there for a reason.

    https://finance.yahoo.com/news/blackstone-prepping-record-50-billion-150000581.html

    MoneyWise
    Blackstone is prepping a record $50 billion vehicle to scoop up cheap homes during the downturn — here’s how to lock in higher yields than the big money
    Vishesh Raisinghani
    Wed, August 17, 2022 at 9:00 AM·4 min read

    “Real estate investment giants continue to buy up homes — something that is likely here to stay, even with higher mortgage rates. In fact, Blackstone is close to finalizing what could be the biggest traditional private-equity real estate investment fund in history, according to the Wall Street Journal.”

    “In a regulatory filing last month, Blackstone said that it has secured $24.1 billion of commitments for its latest real estate fund called Blackstone Real Estate Partners X. Combined with Blackstone’s real estate funds in Asia and Europe, the company will have over $50 billion available for opportunistic investments.”

    “In the event of a market downturn [like now, for example], Blackstone will have plenty of capital to scoop up some attractive real estate bargains.”

23. Sydney housing market gives first-time buyers a break | 7NEWS
    7NEWS Australia
    Aug 20, 2022 As the big shift in the Sydney housing market gives first-time buyers a break. New data shows some surprising trends on where they’re looking to get in.

    While parts of Western Sydney are as popular as ever, other traditional hotspots are falling out of favour.

    https://www.youtube.com/watch?v=4vxn9qW2aH8

    2 minutes.

24. Under Marxism, children are property of the state.

    The Federalist — ‘Gender-Affirming Care’ Is The Opposite Of Gender-Affirming And Caring (8/19/2022):

    “People don’t like hospitals that hurt children instead of healing them. Boston Children’s Hospital has been deluged with criticism after conservative activists highlighted its own materials promoting medical transition for minors. The hospital has tried to cover up its deeds, but it cannot escape the truth that so-called gender-affirming care isn’t. The euphemistic phrase conceals the brutal realities of medical transition, but these procedures — including puberty blockers, cross-sex hormones, and various surgeries — do not affirm patients’ gender, let alone care for them. Gender-affirming care is a lie and we must stop it.

    The tide may be turning against the transgender craze. Across the pond, the United Kingdom’s infamous Tavistock pediatric gender clinic has been shut down, and a massive medical malpractice action has begun against those responsible for rushing children into transition. Here in the U.S., Republican politicians are increasingly willing to stand up against the radical transgender agenda, as even the spineless are realizing that this is a winning issue. And it seems only a matter of time until trial lawyers target America’s aggressive and unregulated gender clinic industry.

    But there are no guarantees of victory, in large part because many people may be in too deep to back down. Democrats in general, and the Biden administration in particular, have embraced transgender ideology. They have done everything from putting men in women’s shelters to using school lunch programs for poor children as leverage to force schools to adopt the rainbow agenda, including letting males into girls’ locker rooms. And, of course, pretty much every major left-wing group has followed the LGBT lobby into pushing a radical transgender agenda.”

    This next paragraph is what globalists consider hate speech:

    “Gender-affirming care is a lie because gender is not a free-floating metaphysical substance. Gender becomes nonsensical when disconnected from sex, because gender is the social expression of the biological realities of human sex.”

    https://thefederalist.com/2022/08/19/gender-affirming-care-is-the-opposite-of-gender-affirming-and-caring/

    There is language in the Old Testament of the Bible that discusses this, and the term for it is abomination.

    “They’re not sending their best”

    1. Under Marxism, children are property of the state.

       Under Marxism, everyone is property of the state.

25. How do you pass a $750 billion Green New Deal?

    Call it the Inflation Reduction Act of 2022.

26. Democrat Party poisoned your children with CCP Flu “vaccines” mutilated their bodies, and opened the borders so the ones still alive can die from overdoses.

    This is the Democrat Party.

    New York Post — How to fight the Mexican and Chinese fentanyl cartels driving biggest money laundering scheme in history (8/19/2022):

    “On Sunday, as the nation marks National Fentanyl Prevention & Awareness Day, it’s worth noting that last year alone more than 100,000 Americans died in drug-related deaths, the vast majority from pills cooked with fentanyl, an opioid analogue 50 times stronger than heroin.

    As the five-year toll of fentanyl deaths spirals into levels last seen in world wars, the US government needs to launch an all-out narco-war with the Mexican drug cartels manufacturing and trafficking the drug, along with their Chinese Triad organized-crime-syndicate partners. Victims deserve action to put cartels and the Triads out of business once and for all.

    As Drug Enforcement Administrator Anne Milgram explains, “Drug cartels in Mexico are mass-producing fentanyl and methamphetamine largely sourced from chemicals in China, and they’re distributing these substances throughout the United States. We are finding these deadly drugs in every state; in cities, suburbs, rural areas and local communities spanning the country.”

    Mexican cartels, particularly the Sinaloa and Jalisco ones, have partnered with the Chinese Triads in shipping fentanyl precursors from China to Mexico, where the deadly substance is manufactured, frequently with the help of Chinese chemists. Fentanyl-laced pills (everything from counterfeit oxycodone to Aleve) and drugs like heroin and methamphetamine get secreted into the United States and Canada to be distributed on the street.

    Then the funds get laundered. One of the largest money-laundering schemes involves students from China here on education visas. Per the DEA, thousands of students pick up the drug money; they bring Samsonites of cash to Chinese money brokers who operate out of restaurants, travel agencies and other storefronts.

    Part of the profits then get sent by WeChat back to the cartels and Triads via Chinese banks; other funds get dropped into casinos by Chinese gamblers who buy chips and redeem them for bankers checks. The rest is laundered into US real estate — part of black-market investment schemes to get money out of China”

    Vote Democrat Party, and you are voting to find your child dead from an overdose. This is the Democrat Party.

    “The scale and scope of the laundering activity inside our borders is huge, constituting the largest money-laundering scheme in world history. Billions in narco profits are being invested off the crest of the Sino-Mexican-perpetrated death wave.

    China is engaged in a reverse Opium War against the West, with its top target US society. Defeating the Chinese in that war won’t be easy, but it’s far better to try than to do nothing serious and accept the deaths of 100,000 kids every year.”

    https://nypost.com/2022/08/19/how-to-fight-the-mexican-chinese-fentanyl-cartels/

    Globalists gonna globe.

    1. “Vote Democrat Party, and you are voting to find your child dead from an overdose. This is the Democrat Party.”

       Truer words have never been spoken.

       1. This is just a sample from one of the local news channel websites, just in the past few months:

          https://kdvr.com/news/data/colorado-seizes-more-fentanyl-in-2022-than-other-years-combined/

          https://kdvr.com/news/local/family-shares-grave-warning-of-teen-dying-from-possible-fentanyl-overdose/

          https://kdvr.com/news/local/man-guilty-of-child-abuse-after-3-year-old-overdoses-on-fentanyl/

          “Jorge Alexander Che-Quiab, 27, was found guilty in May of providing fentanyl that killed a 16-year-old girl at his home, where he also sexually assaulted a 14-year-old girl that he got drunk.”

          https://kdvr.com/news/local/man-convicted-of-sexual-assault-manslaughter-sentenced/

          “Police said a 6-year-old girl’s mother, 25-year-old Ashlee Figgers, pulled her car over to the side of the road to use fentanyl. When Figgers passed out in the car, a mail carrier noticed the girl calling for help.”

          https://kdvr.com/news/local/6-year-old-calls-for-help-after-mom-passes-out-on-fentanyl/

          https://kdvr.com/news/local/parents-arrested-after-baby-ods-on-fentanyl/

          “The family of 15-year-old Josiah Velasquez is raising overdose awareness after his mom said her son took a “blue 30” pill and died. According to mother Christina Luna, the pill was laced with fentanyl.”

          https://kdvr.com/news/local/perc-30-blue-pill-fentanyl-overdose-death-arvada/

          This one happened six months ago:

          “The deaths of five people found in a Commerce City apartment Sunday were likely linked to fentanyl, of a powerful synthetic opioid, according to Adams County District Attorney Brian Mason.

          “They essentially dropped dead where they were. They didn’t have time to call for help,” he said.

          The five people who died in the apartment likely thought they were doing cocaine, Mason said.

          “The evidence on scene was lines of powder on glass mirrors consistent with cocaine and not fentanyl,” Mason said.

          https://www.cpr.org/2022/02/21/fentanyl-linked-to-5-deaths-in-commerce-city-and-more-could-still-be-circulating-da-says/

27. Real Estate Market IMPLODING? – 2022 July Yorba Linda Housing Market Update
    Aug 19, 2022

    https://www.youtube.com/watch?v=XV4RzVQver0

    4:50.

28. The New York Times promotes globalist war crimes.

    New York Times — Behind enemy lines, Ukrainians tell Russians ‘you are never safe’ (8/17/2022):

    “They sneak down darkened alleys to set explosives. They identify Russian targets for Ukrainian artillery and long-range rockets provided by the United States. They blow up rail lines and assassinate Ukrainian officials they consider collaborators with the Russians.”

    Your federal income taxes are paying for this.

    “Slipping back-and-forth across the front lines, the guerrilla fighters are known in Ukraine as partisans, and in recent weeks they have taken an ever more prominent role in the war, rattling Russian forces by helping deliver humiliating blows in areas they occupy and thought to be safe.”

    Russia is winning.

    “Increasingly, Ukraine is taking the fight against Russian forces into Russian-controlled areas, whether by using elite military units, like the one credited Tuesday with a huge explosion at a Russian ammunition depot in the occupied Crimean Peninsula, or by deploying an underground network of the partisan guerrillas.”

    The West is a failed civilization.

    “Insurgent activity is intensifying, as the resistance fighters strike stealthily in environs that they know intimately, using car bombs, booby traps and targeted killings with pistols — and then blending into the local population.”

    Zelensky is not a Christian, and if you support him, neither are you.

    “Whether targeted people survive or die in the attacks, partisans say, is less important than the signal they send with each strike: You are never safe.”

    After Russia wins, Russia, Hungary, and a few other small Eastern European nations will be the last remnants of Christian European civilization.

    “under international law a civilian becomes a combatant when they start taking part in hostilities. The partisans, no doubt, work for the government, even the military, and whether the murky area they inhabit does in fact fall under international law — and whether their activities violate those rules — is a matter for debate.”

    https://www.sfgate.com/news/article/Behind-Enemy-Lines-Ukrainians-Tell-Russians-You-17379787.php

    What is not a “matter of debate” is that Russia is, in fact, winning.

29. Democrat Party is the party of institutionalized racism.

    Washington Examiner — School districts have no business signing racist and discriminatory contracts (8/20/2022):

    ” Racial discrimination in employment is illegal. But somebody forgot to tell Minneapolis Public Schools and the Minneapolis Federation of Teachers.

    It has emerged that in March, the district signed a contract with MFT stating that when schools need to cut staff, white teachers must be laid off first, before “educators of color.” In addition, when schools restore laid-off staff, the educators of color must be reinstated before white ones.”

    Remember, when you buy a house in Minneapolis, your property taxes are paying for this.

    “This agreement is almost certainly illegal under Title VII of the Civil Rights Act — after all, racial discrimination by governments went out with segregation. But it goes much further as an illustration of the moral fiber of the organizations and people involved in drawing it up and signing it.”

    Southern Poverty Law Center.

    “racism has come back into fashion for the so-called anti-racist adherents of critical race theory, whose specious rationalizations have cropped up in the school district’s defense of its odious behavior.”

    https://www.washingtonexaminer.com/restoring-america/equality-not-elitism/school-districts-have-no-business-signing-racist-and-discriminatory-contracts

    Globalists gonna globe.

30. Attorney General Merrick Garland wants to seize custody of your children and mutilate them, and put you in the gulag if you dare resist, because under Marxism, children are the property of the state,

    Townhall — DOJ Releases Statement on ‘Alleged’ Threats Targeting Boston Children’s Hospital Over Gender Surgery on Minors (8/19/2022):

    “Earlier this week it was revealed that the Boston Children’s Hospital had quietly removed its YouTube playlist of 90 videos promoting gender transitions for children. A hit piece by NBC News’ dishonest Brandy Zadrozny and Phil McCausland claimed that the children’s hospital has been receiving threats. Such reported threats have even led the Department of Justice to respond.

    The statement in question came on Wednesday from the United States District Attorney’s Office-District of Massachusetts and is attributed to U.S. Attorney Rachael S. Rollins.

    In it, she condemns such threats, which she acknowledges are “alleged,” but also promotes such programs at the children’s hospital.

    “Today’s news about the alleged threats directed at Boston Children’s Hospital transgender health program is disturbing to say the least. Children deserve an opportunity to thrive and grow as their own authentic selves. Parents/guardians and health care providers who support them in that journey should be allowed to do so free of threats and harassment”

    It’s called grooming. Groomer parents and groomer health care providers.

    “I want to make it clear that the Department of Justice will ensure equal protection of transgender people under the law. As Attorney General Merrick Garland recently said, ‘At the Justice Department, we view confronting hate crimes as both our legal and our moral obligation”

    https://townhall.com/tipsheet/rebeccadowns/2022/08/19/doj-releases-statement-about-threats-n2611998

    Your federal income taxes are paying for this.

    1. Related article:

       “Rep. Marjorie Taylor Greene (R-Ga.) introduced a bill to ban gender-affirming care for minors.

       Titled the Protect Children’s Innocence Act, the bill would make providing gender-affirming medical care to minors, such as puberty blockers and gender-changing surgery, a Class C felony.

       The legislation would also prohibit using federal funds for gender-affirming health care, including Affordable Healthcare Act plans.

       “I’m introducing a bill, creating a law, causing it to be a Class C felony for any person involved in so-called gender-affirming care — that means gender mutilation surgery, hormones, puberty blockers, anything involving youth under the age of 18 — because they’re too young to make these awful decisions that will affect them and will be permanent for the rest of their lives,” Greene told Fox News host Tucker Carlson.

       Under the bill, anyone who “knowingly performs any gender-affirming care on a minor” will face a punishment of 10 to 25 years in prison and a maximum fine of $250,000.”

       https://townhall.com/tipsheet/saraharnold/2022/08/19/marjorie-taylor-greene-introduces-bill-to-make-genderaffirming-care-for-transgender-youth-a-felony-n2612003

31. Remember, under the criminal Biden regime, nobody will ever go to jail for this:

    “In the latest attack on a pro-life organization, pro-abortion extremists spray-painted threatening messages and anarchist symbols outside a pro-life pregnancy center in Massachusetts late Wednesday or early Thursday, according to police. Since last May, when a draft ruling was leaked indicating that the U.S. Supreme Court was going to overturn Roe v. Wade, there have been about 94 attacks on pro-life facilities and churches.”

    This is the Democrat Party.

    “Jane’s Revenge has taken credit for vandalizing or firebombing over a dozen churches and pregnancy centers since the SCOTUS leak, including CompassCare, a pro-life medical office and pregnancy center in Buffalo, New York; Oregon Right to Life in Keizer, Oregon; Clearway Clinic in Worcester, Mass., and Wisconsin Family Action in in Madison, Wisconsin.”

    https://amgreatness.com/2022/08/19/another-pregnancy-care-center-in-massachusetts-is-vandalized-janes-revenge-takes-credit/

    1. Related article:

       “On Monday, the union representing employees of Google’s parent company submitted a petition demanding that the Google search engine – the world’s #1 most visited website – systematically suppress any results for pro-life pregnancy centers.”

       Globalists support the abortion of live babies.

       “According to the Washington Free Beacon, the petition was sent by the Alphabet Workers Union to Sundar Pichai, the CEO of Alphabet Inc., the company which owns Google, YouTube, and several other key Big Tech platforms. The petition, which was signed by over 650 employees, demands that the Google search engine delete “results for fake abortion providers,” arguing that pro-life results constitute “misleading information.”

       Democrat Party supports the abortion of live babies.

       “Google was previously pressured by congressional Democrats to similarly manipulate their search engine. Back in June, 21 Democratic members of Congress sent Google a letter demanding that the search engine “limit the appearance” of pro-life results, or otherwise add “user-friendly disclaimers” to any pro-life results warning users to avoid such websites.”

       https://amgreatness.com/2022/08/19/google-employees-union-demands-search-engine-suppress-pro-life-results/

32. Ooff!! Portland Real Estate saw the 2nd week of low sales. The average sale price wasn’t great.
    Aug 19, 2022

    https://www.youtube.com/watch?v=BI9fQXDz6w0

    9:35.

33. Prices fall, but Triangle, North Carolina homes are less affordable for most
    WRAL
    Aug 19, 2022 Not only are homes in the Triangle real estate market more expensive than they were a year ago, but the monthly mortgage costs have also risen dramatically during that time as well. Further, many Triangle homebuyers are facing the stark reality that homes and borrowing money to buy a home are both more expensive and competition for the region’s most affordable homes is fierce.

    Nationally, the monthly cost of borrowing money to mortgage a median-priced property has risen by about 60%, said Jeff Tucker, senior economist at Zillow, in an interview with WRAL TechWire.

    “In Raleigh, it’s more like 80%,” said Tucker, who was a part of the team that worked on the a new analysis.

    https://www.youtube.com/watch?v=wWjrGP79K8c

    2:10.

34. Miami-Dade Home Prices Drop For First Time In Nearly A Year
    CBS Miami
    Aug 19, 2022

    https://www.youtube.com/watch?v=Z0nF6_G1MKY

    39 seconds.

35. ‘It is likely that the FBI’s raid on Trump was driven by intelligence community fears over information that was contained within those documents relating to the RussiaGate hoax.’

    ‘The DOJ’s coordinated FBI raid of Trump was likely related to the potential unsealing and public presentation of this information—particularly in relation to Trump’s Racketeer Influenced and Corrupt Organizations Act (RICO) suit against Hillary Clinton, the DNC, and former FBI officials like former Director James Comey, former Deputy Director Andrew McCabe, former agent Peter Strzok, and former FBI lawyer Lisa Page—and his amended RICO suit, which added more defendants.’

    ‘As new information has come to light, we’ve gained increased confidence and now feel even more strongly regarding this theory. The vast breadth and scope of the search warrant alone have bolstered this theory. But that’s far from being the only reason behind our belief’

    ‘An Aug. 17 article from Newsweek included some remarkable statements from two sources within the Intelligence Community.’

    ‘One of these sources noted that “agents went into Trump’s residence on the pretext that they were seeking all government documents…but the true target was this private stash” of documents amassed by Trump, “which Justice Department officials feared Trump might weaponize.” The second Intelligence Community source claimed that although the FBI supposedly “collected everything that rightfully belonged to the U.S. government,” the true target of the DOJ-led FBI raid was “these documents that Trump had been collecting since early in his administration.”

    ‘On July 25, Grassley issued a press release containing letters to Wray and Garland, stating that information Grassley had received “involves concerns about the FBI’s receipt and use of derogatory information relating to Hunter Biden, and the FBI’s false portrayal of acquired evidence as disinformation,” referring to the son of President Joe Biden. Grassley said that “if these allegations are true and accurate, the Justice Department and FBI are—and have been—institutionally corrupted to their very core.”

    ‘On Aug. 4, Trump filed in opposition to Judge Middlebrook’s ruling to substitute the United States—in other words, the DOJ—for Comey, McCabe, Strzok, Page, and Clinesmith. Trump also filed in opposition to Clinton’s earlier motion to dismiss the entirety of the RICO complaint against her and her fellow defendants, which included the DNC, and familiar names such as lawyers Marc Elias and Michael Sussmann, Rep. Adam Schiff (D-Calif.), former journalist Glenn Simpson, former DOJ official Bruce Ohr, and his wife, Nellie Ohr.’

    ‘The very next day, Aug. 5, Reinhart signed the FBI search warrant for Trump’s Mar-a-Lago property. Garland later stated in his press conference that he “personally approved the decision to seek a search warrant.” Trump’s Mar-a-Lago property was raided three days later, on Aug. 8.’

    https://www.theepochtimes.com/spygate-docs-and-trumps-rico-lawsuit-exploring-the-real-reasons-behind-the-fbi-raid_4676237.html

    1. The Epoch Times does the actual journalism that the New York Times and the Washington Post never will.

       The New York Times and the Washington Post hate America, hate the Constitution and the Bill of Rights.

       The New York Times and the Washington Post represent the parasite class that has lodged inside the host of this nation, engorging themselves with taxpayer money like blood sucking ticks.

       Your existence is only tolerated by these Deep State globalists if you continue to pay taxes to enrich them and to finance the looting and destruction of the nation your ancestors founded.

36. Back in 2004 the battle cry of the Realtor was …

    Buy now or be priced out forever.

    As I pulled into my hood yesterday and looked to my right seeing a house that sold for $465,000 in 2019 and then again for $799,900 a few months ago, I wondered what the Realtor could have said to the new owner?

    You’re already priced out forever so buy now?

37. Kissimmee, FL Housing Prices Crater 14% YOY As Orlando Housing Market Careens Off A Cliff

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

    As one Orlando area broker explained, “I’ve been in this business for 30 years and I haven’t wrote a conforming mortgage in at least 15 years. It’s all subprime here.”

38. “Overall mortgage application volume has plunged by more than 50% this year, according to the Mortgage Bankers Association.”

    50% is a popular in this year’s CR8R.

    “These business conditions are spurring banks that provide lines of credit known as warehouses to make margin calls and cut credit.”

    Who are these mysterious warehouse banks? I recall when the 2007-2009 financial crisis really got rolling, it came to light that some of the biggest banks on Wall Street, such as Lehman Brothers, were bankrolling the subprime mortgage lending industry. Luckily it’s different this time.

    1. 50% is a popular ‘threshold’ in this year’s CR8R. (Lost a word somehow…)

39. Lobbyist cutting a deal with Nancy Pelosi ten-thousand years from now.

    https://youtu.be/zKQfxi8V5FA?t=148

40. So what’s with this brand new “Quiet Quit” Narrative that has popped out of nowhere? Now we’re being told that everyone is doing it, which I don’t buy.

    The only thing I can think of is that it’s being set up as a reason to recall everyone back to the office, no exceptions.

    1. Sounds like a good way to get fired.
       Regarding retirement … consider Idaho County, ID. No bldg codes except minimal state-wide, and very libertarian.

    2. No unemployment benefits if you quit. Bide time until you’re fired so you get those and possibly severance in a RIF.

       1. Just to clarify: “Quiet Quit” doesn’t mean you resign, it means you slack, doing the bare minimum to not get fired.

          1. Oh, I know what it means. I gave the rationale behind it.

41. Was Wall Street’s summer bull market recovery rally merely a mirage?

    1. The Financial Times
       Federal Reserve
       Investors warn of ‘disconnect’ as markets price in early Fed rate cut
       Some traders fear markets underestimate US central bank’s determination to stamp out inflation
       Mary Daly of the San Francisco Fed this week said she was sceptical the central bank would cut rates next year
       Kate Duguid in New York and Colby Smith in Washington 3 hours ago

       Some investors are warning of a mismatch between market expectations and the Federal Reserve’s stated commitment to stamping out inflation as traders stand by their wagers on interest rate cuts next year.

       Traders in the futures market are betting the central bank’s main interest rate will be cut to 3.3 per cent by the end of next year after peaking at 3.7 per cent in March 2023. That implies the Fed will have to cut rates by the second half of next year.

       However, some investors argue that the market is misjudging the Fed, which has repeatedly said it is intent on tackling inflation even if tighter monetary policy results in higher unemployment and slower economic growth.
       …

    2. The Financial Times
       US equities
       Investors fret over durability of summer rally in US markets
       Gains have been driven by hedge funds unwinding bearish bets rather than newfound conviction
       Traders work on the floor at the New York Stock Exchange on Wednesday August 10 2022
       Eric Platt and Ortenca Aliaj in New York yesterday

       Investors are raising red flags over a stock market rally that has added more than $7tn in value to US equities since June, with many of the gains being driven by hedge funds unwinding bearish bets rather than newfound conviction that it is time to buy.

       Traders at Goldman Sachs, Morgan Stanley and JPMorgan Chase have warned clients in recent days that the bounce in shares is not underpinned by confidence the surge can last, according to interviews with traders and private brokerage reports seen by the Financial Times.

       Instead, the rally — including the frenzied boom and bust in meme stocks that recalls last year’s market ructions — has been fuelled by hedge funds covering short bets structured to profit from the market decline earlier this year, they said.
       …

    3. The Financial Times
       US equities
       Investors pivot from value stocks as recession fears ‘haunt’ markets
       Asset managers return to expensive growth shares amid shifting views on rates and inflation
       Chris Flood yesterday

       Big investors have over the past two months bought up shares in companies with strong growth prospects over cheaper value stocks in an abrupt reversal driven by shifting views on interest rates, inflation and the threat of a US recession.

       US value strategies, which look for inexpensively priced companies based on measures such as profits, cash flows or book value, have lagged since mid-June when the blue-chip S&P 500 index began to rebound from its low point this year, a recovery fuelled by fresh bets by investors on technology stocks and other growth sensitive sectors.

       This revival of interest in growth stocks and underperformance for value represents a return to a trend that was dominant from the early days of the coronavirus crisis in 2020 until December 2021. Surging inflation and central banks’ plans to remove pandemic-era stimulus took the shine off of growth stocks in the first half of 2022, but now recession jitters have caused the pendulum to swing back.

       “Investors were obsessed about inflation risks in the first half of the year and they are now haunted by worries about recession. That explains the violence of the flip in sentiment to growth stocks from value,” said Michael Hartnett, chief investment strategist at Bank of America.
       …

    4. They say the 1987 stock market crash was not accompanied by a recession, but the 1991-1996 recession was soon to follow, and it was a bad one. Perhaps the first instance of the Greenspan Put shocked the markets into putting the incipient recession on hold?

       1. Has the bear market really gone into early hibernation?
          By Nicole Goodkind, CNN Business
          Published 7:29 AM EDT, Fri August 19, 2022

          New York CNN Business —

          The bears and bulls are at it again.

          Markets have seemingly recovered from a miserable downturn in mid-June that sent the S&P 500 (SPX) down more than 20%, but analysts and investors can’t tell whether it’s clear skies ahead or if they’re in the eye of the storm.

          Things are looking pretty good right about now. The 9.2% return in the S&P 500 last month marked its best July since the Great Depression.

          Jurrien Timmer of Fidelity Investments noted recently that 88% of all stocks in the index are currently sitting pretty above their 50-day moving average. “If this rally continues much further than it has so far, on a historical basis it will be hard to conclude that this is not a new bull market,” he wrote.

          Fears of a recession, 40-year high inflation rates, and historically aggressive rate hikes from the Fed painted a pretty dismal picture earlier this summer, and markets reacted accordingly. But thanks to a strong July jobs report and lower-than-expected inflation, there seems to be a growing belief that the worst may be over. Wall Street is getting greedy again.

          “Strategists and economists should have a healthy dose of humility right now. The market was pricing in a recession, but all these economic reports came out that said, ‘not so fast. Maybe there is a soft-landing potential,’” said Keith Lerner co-chief investment officer at Truist. “Now the market is pricing in optimism that we’re going to get through this. It’s in ‘party on’ mode.”

          The minutes from July’s Federal Reserve meeting showed that central bank officials think that a soft landing is well within reach. But the minutes also noted that the full effects of tightening policy have not yet been felt.

          In the last 50 years, only one bear market — which happens when stocks close down 20% or more from their most recent high — was not accompanied by a recession. That was the market crash of 1987.
          …
          https://www.cnn.com/2022/08/19/investing/premarket-stocks-trading/index.html

    5. The Financial Times
       German economy
       German central bank chief Joachim Nagel warns inflation to hit 70-year high
       Bundesbank president says surge in energy prices caused by Russia’s gas squeeze likely to drive inflation above 10%
       The Nord Stream 1 receiving station at Lubmin. Gas prices have risen 10-fold in the past year.
       Martin Arnold in Frankfurt
       11 hours ago

       Germany’s central bank chief has warned that interest rates need to keep rising despite the risk of recession as inflation reaches double-digit levels for the first time since 1951.

       Bundesbank president Joachim Nagel told the Rheinische Post that the recent surge in energy prices caused by Russia’s squeeze on gas supplies was likely to drive German inflation above 10 per cent this autumn and keep it elevated next year.

       “The issue of inflation will not go away in 2023,” said Nagel. “Supply bottlenecks and geopolitical tensions are likely to continue. Meanwhile, Russia has drastically reduced its gas supplies, and natural gas and electricity prices have risen more than expected.”
       …

       1. Gas price increase due to sanctions is not inflation, and it’s not caused by easy money. So, raising interest rates will not solve the gas price.

          When you call things by the wrong name, you get wrong solutions.

42. The globalists & their Quislings cannot complete their destruction of Western Civilization from within until diversity replaces merit in all of our subverted institutions.

    The death of meritocracy: From the RAF to our elite universities, Britain is in the grip of a new dogma that prizes diversity above talent. And the result, says ANDREW NEIL, will leave Britain dangerously the weaker

    https://www.dailymail.co.uk/debate/article-11128725/From-RAF-elite-universities-Britain-prizes-diversity-talent-says-ANDREW-NEIL.html

    1. What is funny about this is that large middle east airlines like Emirates, while Arab owned, are basically run by white Brits.

43. They rigged the 2020 election to insure that a criminal insurrection would advance their agenda, and the majority voter would have no representation .

    They censored the news, so as to defraud the public on facts and dispute to the outlandish fake news narratives and fear mongering.

    They looted the tax coffers to transfer money to the insurrectionists , the power groups intent on a One World Order Corporate Stakeholder Governance.

    Government Health and protection agencies were corrupted , so a fake pandemic, with fake PCR testing and fake vaccines , could be foisted on the unsuspecting public , along with destructive lockdowns and useless masks.

    Nobody voted for all these extreme changes that are based on fake narratives.
    The voters of the globe are being invaded by a criminal insurrection by a smaller group of RICH power mongers, that infiltrated Governments.

    1. It has a name: World Economic Forum.

       WEF Declares ‘We Just Don’t Need The Vast Majority of You’

       https://newspunch.com/wef-declares-we-just-dont-need-the-vast-majority-of-you/

       WEF Announce Recruitment of ‘Information Warriors’ To Control the Narrative on Social Media:

       “According to Klaus Schwab’s WEF, misinformation on the internet is an “infodemic” that is “potentially deadly” and requires a “cure.” The definition of misinformation, according to the WEF, is anything they disagree with. This means the information warriors will essentially be engaged in the act of shutting down dissent.

       Conspiracy forums and Youtube comments sections are being targeted by the “digital first responders” who pretend to be ordinary users of the platform, but are actually working to disrupt proceedings and support the ideology of Klaus Schwab’s WEF.

       Announcing the news on a WEF podcast, UN communications director Melissa Fleming said “So far, we’ve recruited 110,000 information volunteers, and we equip these information volunteers with the kind of knowledge about how misinformation spreads and ask them to serve as kind of ‘digital first-responders’ in those spaces where misinformation travels.”

       https://newspunch.com/wef-announce-recruitment-of-information-warriors-to-control-the-narrative-on-social-media/

       Klaus Schwab is not a United States citizen.

       And somebody needs to put a bullet in his skull.

       1. WEF Declares ‘We Just Don’t Need The Vast Majority of You’

          Now go get the latest Covid jab, you useless eater. The WEF needs to clear out the globe ASAP.

44. Creepy globalist oligarch and Democrat Party bankroller Mark Zuckerberg is using algorithms to reduce headcount at creepy Orwellian Meta…not as satisfying as Real Journalists being told to hit the bricks at failing globalist propaganda mouthpieces, but enjoyable all the same.

    60 Meta employees laid off ‘at random’

    https://www.news.com.au/finance/business/technology/60-meta-employees-laid-of-at-random/news-story/3d4bf12863784b18a4bd5870dcc09664

    Mark Zuckerberg has laid off 60 Meta employees using an algorithm after warning of upcoming “aggressive performance reviews”.

    1. 60 Meta employees laid off ‘at random’

       Wouldn’t it make more sense to just clear out low profit and unprofitable business units? That’s what happened at Big Red on Aug 1st. About 3000 in unprofitable groups were given their walking papers.

45. In the news,
    More than 1200 Scientist have made a declaration that Climate Change narratives are not based on proven Science. .
    In other words, they are making this shit up. .
    Actually C02 is good for earth , and is a necessary element for sustainment of life.
    Recent heat spell was caused by some sun flares they knew about that ended on Aug 18.
    Just like they censored thousands of Drs and Scientists that disputed the Covid narratives, so it is with the Climate Change fraud.
    Also , a third of the insects or bugs are not digestive for humans and are poisonous to humans.
    The cow and other meats has been a mainstay blessing for humans existence.
    As humans we have to eat stuff that was alive to survive . Even a plant was alive before it was harvested to eat.
    It would be dangerous to the planet to get rid of cows and over produce bugs and insects for human consumption. A tipping of the balance of nature by elimination of meat is dangerous.
    The sustainable earth agenda proposes that humans are bad for the earth , and their carbon imprint must be eliminated . That the perfect amount of humans are 500 million. Like how did they come up with that figure? Since we have about 8 billion humans, how do you get down to 500 million?
    This nonsense is some kind of a goal to eliminate most the population , to save the earth for who?
    Small group of Entities, just making shit up, to commit genocide of billions.
    Take everything that sustains humans like meat , fossil fuels, energy , etc.
    Don’t comply with being eliminated.

    1. This winter will be a dry run for the globalists in Europe, where people are going to quite literally starve and freeze. There will be civil unrest, which the WEF will be watching closely as their quislings try to keep the rabble under control. If the great freeze of 2022 is a success, they will tighten the screws on everyone else 2023.

46. https://www.zerohedge.com/geopolitical/un-report-finally-acknowledges-chinas-forced-labor-programs

    Leave it to the United Nations to wait several years before pointing out the blatantly obvious. With their overt obsession with climate change, one has to wonder how they find any time to address REAL problems in the world, including state sanctioned slavery. Perhaps they stalled for so long because the nation in question is China?

    A new UN report on contemporary forms of slavery has found it “reasonable to conclude” that forced labor is taking place in China’s far-western region of Xinjiang. The area has long been criticized by the alternative media as the base of operations for massive slave labor camps which China uses to house undesirables, including millions of native tribal Uyghurs according to human rights groups.

    The reality of concentration camps in China was denied by the CCP spin machine for years, but leaked documents on camp brainwashing programs in 2019 as well as leaked video footage in 2020 have put that question to rest.

    The indoctrination programs used by China are common practice among communist countries, which view religious beliefs and practices as unacceptable competition to the collectivism and worship of the state. If a group of people holds something in higher regard than the government (such as God or spiritualism), then they might be harder to control because they believe in something greater than themselves, or greater than their own personal survival. They become dangerous to the authorities.

    The Uyghur programs seem to follow a Mao/Soviet model, which focuses on forced labor, separation of families and elaborate propaganda sessions designed to instill loyalty. Although, there is some evidence that the camps also use the threat of torture and death as a means to inspire compliance.

    The programs also appear to be an extension of the ethnic cleansing efforts used by China to pacify and absorb Tibet after invading militarily in 1949. China’s modus operandi is to claim that the regions they ethnically cleanse are “already a part of China” even when they are clearly separate, not only by geography and national boundaries but by culture. Claiming historic ownership is their way of justifying their actions. Again, this is typically communist.

    In a report released on Tuesday, a UN special rapporteur, Tomoya Obokata, said that evidence pointed to forced labor “among Uygur, Kazakh and other ethnic minorities in sectors such as agriculture and manufacturing”. The UN has not adopted the report as their official position, which is not surprising, but it is one of the first incidents of the UN openly acknowledging the CCP’s forced labor operations.

    The Chinese government was quick to dispute the rapporteur’s findings, accusing Obokata of “abusing his authority” to “malignly smear and denigrate China and serve as a political tool for anti-China forces”.

    “We solemnly urge [a] certain special rapporteur to immediately change course, respect plain facts, observe the mandate of the Human Rights Council and code of conduct of the special procedure, perform duty in a fair and objective manner,” foreign ministry spokesman Wang Wenbin said at a news briefing in Beijing on Wednesday. “There has never been forced labor in Xinjiang,” he added.

    Here we have another very typical communist reaction to being caught red handed (no pun intended), which is to play the victim and then gaslight the people that are pointing out their criminality.

    China argues that labor programs were actually meant to “combat radicalism” and “fight terrorism,” though they have offered no legitimate evidence of either. The CCP also suggests that camps produce workers that are “paid,” though this claim has been refuted by prisoners and insider leaks. Whether paid or not, all the evidence shows that Uyghurs and other groups are indeed separated from their families and shipped out against their will to work in Chinese factories.

    Beyond exposing the horrible practices of the Chinese government, the slave labor and concentration camp issue illustrates the much bigger problem of collectivist systems and their natural propensity to devolve into brutal dictatorship.

    This is the eventual end path of every socialist/communist model; it is not as if China is being compelled by circumstances to round these people up, to torture them or use them as slave labor. There is no direct threat to China. Rather, the CCP and other collectivist governments see ideas as threats, because ideas and beliefs outside of state doctrine offer CHOICES, and the power of choice is the ultimate silver bullet to the monster of collectivism. Choice is death for authoritarians, so all choice must be eliminated.

47. “The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago.

    Gosh, I’m getting a real sense of deja vous here. Thankfully, all the analysts on CNBC assure me Everything is Awesome.

48. For a lender whose loans dropped to 85 cents, the losses can be debilitating, even if they aren’t realized yet. On top of that, business is broadly plunging.

    Die, banker scum.

49. “Real estate broker Amy Clark at Capstone Realty told 13News the slowdown is mainly due to higher interest rates and inflated prices.

    That’s a one-woman brain trust right there.

50. So, that’s one of my biggest concerns about the market. I worry about some of my clients that I’ve had because they were so desperate to get a home.’”

    I’m sure that keeps you up at night, Amy. Always Be Closing leaves no room for a conscience.

51. ‘Obviously the Federal Reserve is trying to ease us in for a soft landing instead of an explosive period of price gains.’”

    The pending implosion of the Fed’s Everything Bubble is going to vaporize trillions in fake wealth created by fake Yellen Bux “money,” while exposing these Keynesian fraudsters for the charlatans that they are.

52. Many local real estate agents and officials with the Austin Board of Realtors say the local market is merely ‘stabilizing’ and ‘normalizing’ from its previous frenzied levels

    “It’s only a gully.” — Florida realtwhore (The Big Short)

    https://www.youtube.com/watch?v=MesrrYyuoa4&t=60s

53. “He said more sellers will simply decide to take their homes off the market instead of dropping their prices. ‘If rates continue to go up, sellers will stay put. They’ll be house locked,’ he said.

    You stick to yer guns, greedheads. That perfect buyer will be along any day now to pay yer full wish price. Don’t give yer shack away!

54. Globalists gonna globe.

    Berkeley’s ‘racist’ student house which BANS white people from its common room is a nest of vipers where members accuse each other of white supremacy for being white, says resident

    https://www.dailymail.co.uk/news/article-11129787/Students-accuse-white-supremacy-Berkeley-People-Color-house.html

    The UC Berkeley People of Color themed student cooperative house which bans white people from common spaces has a troubled history of discrimination and neglect, according to students.

    Though the house was ‘founded upon the pillars of cross-cultural exchange, academic and professional support, and anti-oppression/allyship,’ student Manduhai Baatar said it has operated counter to those ideals throughout a sordid past.

    In a 2020 Medium piece that appears to be an attempt to rebrand the house while addressing its problems, Baatar said the house has been plagued by ‘white supremacy,’ neglectful students who have left the house ‘uninhabitable,’ and gained a reputation for ‘call out culture’ and drug use.

    1. “…which bans white people from common spaces…”

       That’s racis’

    2. Toxic, destructive people do not change after banishing their common enemy, they turn on each other.

55. You’re delusional, Liz. Even if the globalists & Democrat-Bolsheviks pulled out an electoral fraud even bigger than they did during the last election, you have zero popular support in flyover country.

    ‘She would not become the nominee’: Mitt Romney discourages Liz Cheney from running for president after Wyoming Republican said she is still ‘thinking about’ it, despite brutal primary loss to Trump-backed opponent

    https://www.dailymail.co.uk/news/article-11129951/Mitt-Romney-discourages-Liz-Cheney-running-president-lost-Wyoming-primary.html

56. Ok, summary of some news articles.
    Scientists disclose that bugs/ insects are 1000 x more toxic than processed gluten.
    Bugs/ insects contain “chitin” A substance the human gut can’t process, can trigger autoimmunity.
    Bugs/insects have parasites on them .

    Of course bugs are the replacement food .
    Birds can digest chitins, but not humans..

    Poisonous vaccines and toxic bugs/ insects for humans, to save the earth from climate change.
    Bugs/ insects are bird food, grass is cow food, and humans eat meat, add vegetables and grains , add dairy products.
    They are already putting ground up bugs in processed foods, approved by FDA.

    1. “Poisonous vaccines and toxic bugs/ insects for humans, to save the earth from climate change.”

       Crazies gonna cray cray…

57. “Now, Rick said he may be spread very thin since finding out he wouldn’t be able to rent his property, especially since he can’t rent during the peak months of November, December and January. At the Board of Summit Board of County Commissioners meeting on Tuesday, Aug. 9, both Commissioner Tamara Pogue and Commissioner Elisabeth Lawrence said they’ve heard from many second-home owners who have struggled to pay for their property without the ability to rent it short term.”

    Die, speculator scum.

58. The dark side of Utah’s surging home values: An ‘unprecedented’ tax burden
    Home values have risen historically fast — landing Utah homeowners with unusually high 2022 property tax bills
    By Katie McKellar
    Aug 9, 2022, 8:00pm PDT
    …
    So add not just record home price increases but now a jarring tax burden shifted to homeowners to the growing list of consequences from the COVID-19 pandemic’s dramatic impact on the housing market.

    Zoom in: ‘Historic’ home value hikes

    More than 28%.

    That’s how much residential properties increased across Salt Lake County in 2022, according to Stavros

    In 2021, the median value of residential properties in Salt Lake County was $435,700. That’s up from $388,500 in 2020, $368,300 in 2019 and $339,900 in 2018, according to records provided by the Salt Lake County Assessor’s Office.

    In 2022? The median value of residential properties in Salt Lake County was $561,100.

    That increase — 28.7% to be more precise — is “right in line” with the yearly home price increases that have been reflected on Utah’s Multiple Listing Services, or MLS, real estate data, Stavros noted. “We feel that even though we had to increase valuations substantially, they’re clearly in line with the market.”

    That figure is remarkable, Stavros and his chief deputy assessor Tyler Andrus said, noting the last time they had seen those types of value increases was 2005 and 2006, before the housing bubble popped and sent the global economy into the Great Recession. And it shattered those levels.

    “The percent increase was 10% more than we’ve ever seen for residential values in our assessed values,” Andrus said. “I mean, it is truly historic.”

    “This is unprecedented,” Stavros said.
    …
    https://www.deseret.com/2022/8/9/23282992/housing-market-dark-side-utah-surging-home-values-unprecedented-tax-burden-property-taxes

    1. ‘…the growing list of consequences from the COVID-19 pandemic’s dramatic impact on the housing market.’

       It clearly was the virus that made the housing market go insane, not government-sponsored eviction or foreclosure moratoriums or central banks flooding money into the financial system.

       ‘That figure is remarkable, Stavros and his chief deputy assessor Tyler Andrus said, noting the last time they had seen those types of value increases was 2005 and 2006, before the housing bubble popped and sent the global economy into the Great Recession. And it shattered those levels.

       “The percent increase was 10% more than we’ve ever seen for residential values in our assessed values,” Andrus said. “I mean, it is truly historic.”

       “This is unprecedented,” Stavros said.’

       Not to worry…this time is different.

       1. It’s the interest rates, stoopid.

          1. West U.S. & World Utah
             What actually caused the pandemic housing market rush?
             By Katie McKellar
             Jul 8, 2022, 9:53am PDT
             …
             While the pandemic pushed more buyers into the market, at the same time some home sellers could have been more reluctant to list their homes for sale during a time of uncertainty. Meanwhile, “generous mortgage forbearance programs and the foreclosure moratorium may have also reduced supply,” Fed researchers wrote.

             However, as the pandemic dragged on, the dynamics shifted. Researchers wrote their models show “stronger demand overtakes lower supply as the main factor behind the observed decrease in months’ supply.”

             By the middle of 2021, higher demand “can explain essentially all of the decrease in months’ supply since March 2020,” researchers wrote. “We conclude that, outside of a brief shock at the beginning of the pandemic, reduction of supply was a minor factor relative to increased demand in explaining the tightening of housing markets.”

             What will slow housing market demand?

             Fed researchers also gave a nod to what has been a major policy concern throughout the pandemic — that the “sharp increase in house prices has exacerbated affordability pressures and increased financial stability risks.” Using their models, the researchers estimated just how much housing supply would be needed to satiate demand enough so that housing prices would continue along their pre-pandemic trend, “instead of accelerating.”

             Their findings? The country would have needed a 30% boost in the monthly number of homes coming onto the market in order to keep up with the pandemic rush.

             “Since new construction typically accounts for about 15% of supply, our estimates imply that new construction would have had to increase by roughly 300% to absorb the pandemic-era surge in demand,” researchers wrote.

             “This is a very large, unrealistic impulse to housing supply in the short-run, suggesting that policies aimed at reducing bottlenecks to new construction would have done little to cool the housing market during COVID-19.”

             Secondly, Fed researchers wrote that their models show housing demand was very “mortgage rate elastic.” As rates tick up, they have a significant dampening effect on demand.

             “We estimate that a one percentage point increase in the mortgage rate lowers housing demand by 10.4%,” researchers wrote. “This is a larger demand sensitivity to rates than evidence using purely observable housing market variables suggests.”

             The report comes as the Federal Reserve continues to wage its war on record inflation that continues to grip the U.S. In recent weeks, the Fed raised its benchmark borrowing rate, including a 0.75% bump, the biggest single hike since 1994. As a result, mortgage interest rates have climbed drastically, shattering the 5% threshold and some days topping 6%.

             The average rate for a 30-year mortgage on Thursday hovered at 5.67%, according to Bankrate.com. Compare that to just 3% this time last year.

             The report’s findings, Fed researchers wrote, indicate the best way to get a handle on housing demand is through rate increases.

             “A high mortgage rate sensitivity of demand combined with our main result showing that short-run housing market fluctuations are largely explained by demand suggest that policies that target mortgage rates are an effective way to influence short-run fluctuations in the housing market,” researchers wrote.
             …
             https://www.deseret.com/utah/2022/7/8/23198345/us-housing-market-what-actually-cuased-pandemic-housing-rush-boom-federal-reserve-report

    2. Manias do have silver linings:

       1) Mass financial insanity has historically proven to be a temporary condition.

       2) When they end, prices become far more affordable.

       1. ‘It’s insane. It’s crazy. It’s unprecedented’: Inside Utah’s place in the West’s raging housing market
          Salt Lake metro area is contender for having No. 1 housing market in the West, competing with other burgeoning areas like Boise, Idaho
          By Katie McKellar
          May 13, 2021, 9:00pm PDT
          Matthew and Bethany Clewett move a chair at their new home in Kaysville on Tuesday, May 4, 2021. They were finally able to buy a home after 10 offers on other homes failed.
          Jeffrey D. Allred, Deseret NewsPurchase Photo

          They went through the pain 10 times.

          Ten times, Matthew and Bethany Clewett found a house they could envision themselves making their home, where they would raise their now almost 1-year-old daughter, Nellie. Ten houses they liked enough to put in an offer.

          But each time, one by one, their offers were passed over. One after another, the young couple started to lose hope, getting increasingly frustrated with each rejection. Even though their “bulldog” of a real estate agent was persistent and aggressive, each time they lost, and it became increasingly heart-wrenching.

          And they weren’t picky. They were willing to buy anywhere along the Wasatch Front — an area of between 80 miles and 120 miles in length, depending on which northern and southernmost communities one claims. They were open to buying in Stansbury Park in the west, to Saratoga Springs farther south, to Syracuse up north.

          They were offering above asking prices — $20,000 to $30,000 over. They were competitive bidders, but in some cases not competitive enough. Matthew Clewett — who himself is a housing wonk as the public policy director for the Salt Lake Board of Realtors — said their real estate agent told them one house they lost out on went for $60,000 to $70,000 over asking price. That’s not even the highest some Salt Lake real estate agents have seen in other cases, with some bids up to $100,000 over asking price, though that’s not too common.

          “It was absolutely insane,” Matthew Clewett said.

          Again and again, it wasn’t enough.

          “There were plenty of times where we were really frustrated with the process, being denied and having been told, ‘Hey, you had a great offer but we found a better one,’” Matthew Clewett, 26, said, “I wouldn’t wish it on anyone.”

          “And then it’s just like the thought of, ‘Well, should we just give up?’” said his wife, Bethany Clewett, 27. “Should we just live in my parent’s basement forever?”

          The Clewetts’ struggle to buy a home is what thousands of Utahns have already faced in 2021 — a year that’s already shaping up to be one like no other for real estate in Utah, on the heels of an already record-shattering year for Wasatch Front home sales in 2020.

          “It’s absolutely unheard of,” Dave Robison, president of the Utah Association of Realtors, said about Utah’s record-breaking housing trends. “I mean, it’s insane. It’s crazy. It’s unprecedented.”
          …
          https://www.deseret.com/2021/5/13/22412416/utahs-place-in-the-west-raging-housing-market-salt-lake-city-rising-housing-prices-record-breaking

          1. I was in slc for a week last year. I liked it but it seemed really suburban but with smaller homes on CA sized lots. Not many trees. The scenery was OK but nothing charming about the architecture. I didn’t like the weather it was 103 degrees outside with 10% humidity. I don’t understand how it became the craziest market but for Californians exiting ca only to show up with equity and mess up the local markets.

    3. Is it possible that when things appear to be insane, crazy, and unprecedented, they truly meet this description?

       Does it ever occur to nesting couples to hold off on a house purchase until insanity subsides?

59. Globalists gonna globe.

    Diversity Training At Vanguard Tells White Men To Accept ‘Uncomfortable’ Criticism, Floats Holding Them ‘Accountable’

    https://www.dailywire.com/news/diversity-training-at-vanguard-tells-white-men-to-accept-uncomfortable-criticism-floats-holding-them-accountable

60. Cry it out, woke Twitter staff.

    Woke Twitter staff are warned upcoming bonuses will be HALF what they expected, as firm suffers huge loss and battles Musk over his aborted $44 billion acquisition deal

    https://www.dailymail.co.uk/news/article-11129133/Woke-Twitter-staff-warned-bonuses-HALF-expected-firm-suffers-huge-loss.html

    1. They’re getting bonuses even though the company LOST money? What are they complaining about?

       1. It’s clown world. The younger generations have an entitlement mentality the likes we’ve never seen. We have never so badly needed a Great Depression to show these pukes what a struggle really looks like.

          1. We have never so badly needed a Great Depression to show these pukes what a struggle really looks like.
             I really hope not at least based on my Dad’s life in the 30’s. But , yeah they might learn a whole lot if the Unemployment rate went up and they became a little bit more worried about their job.

             1. Grateful for witnessing and learning from my mother’s frugal ways (due to her Scottish background 🤣).
                I have not always been as abstemious as I might have been (it was almost impossible to entertain my mother and my daughter without taking them out to eat frequently.) We did have fun.

             2. Forgot to mention, she was born in ’32 at the depth of the depression. Her father (my grandfather) was employed at ConEd, recruited because he was a star soccer player. ConEd used to call every year to see if he was still alive 🤣 He died at almost 102 after collecting his pension for 35+ years.
                My husband is oblivious to waste. So weird, leaves lights on all the time, etc. “War of the Roses” scenario building here.

          2. Today’s youth is unlikely to be as civil and peaceful as impoverished youth of the 1930’s. I expect today’s leftist youth to engage in violence and revolution as they try to forcefully overthrow capitalism to usher in some socialist utopia. They’re the most disillusioned with Democracy after voting for Biden and stealing the last election but have nothing to show for it.

61. While the globalist propaganda outlets assure us that reports of electoral fraud in the last presidential election are “baseless,” note the Democrat-Bolshevik fits of rage whenever Republican officials crack down on voter fraud.

    Ron DeSantis Has a New White House Strategy: Arrest People for Voting Fraud

    https://www.vice.com/en/article/3ada8y/desantis-voter-fraud-arrests-florida

    DeSantis announced the arrest of 20 allegedly ineligible voters. It’s the latest example of the Florida governor punching down for political points.

62. Why Home Prices Haven’t Crashed Yet

    Leading indicators for real home appreciation suggest that the real estate market is going to take a large downturn. This video explains the data behind these leading indicators and real home prices.

    1. Annualized rate of price decline calculations I have recently posted here on a regular basis show a crash is already underway in many markets. But don’t expect the MSM to notice until a real estate expert such as Robert Shiller or Chris Thornberg points it out to them.

63. Rampant attacks by vibrants on whites and Asians, encouraged and enabled by hug-a-thug Soros-installed DAs and Democrat-Bolshevik officials, will of course not rate any mention at this “summit.”

    Biden to convene September summit at White House in response to wave of racism- and hate-driven violence

    https://www.marketwatch.com/story/biden-to-convene-september-summit-at-white-house-in-response-to-wave-of-racism-and-hate-driven-violence-01661033477?mod=mw_latestnews

    United We Stand Summit on Sept. 15 to take on such violence’s corrosive effects on public safety and democracy

    1. I grow tired of the Deep State giving us the finger.

64. Finance Housing
    Something big is happening in bubbly housing markets
    Pandemic boomtowns are getting hit the hardest by the Pandemic Housing Slump.
    BY Lance Lambert
    August 16, 2022 5:26 AM EDT

    Even before the lockdowns were eased, white-collar professionals who saw their jobs go remote were ditching their apartments in places like Seattle and New York City for homes in markets like Austin, Boise, and Las Vegas. That rush of homebuyer activity, of course, saw home prices absolutely skyrocket in those markets. In Las Vegas alone, the Pandemic Housing Boom pushed home prices up 49%.

    That boom is over now.

    Across the country, housing markets are cooling down. Home sales are falling. Multiple offers are drying up. Homebuilders are scaling back and offering buyer incentives. But every aspect of the cooldown is more intense in markets like Boise and Austin. Simply put: Pandemic boomtowns are getting hit the hardest by the Pandemic Housing Slump.

    “You could make a strong case that in a lot of housing markets the last 10% of home price appreciation was purely aspirational and irrational, and that’ll come off the top really fast…That’s exactly what we’re all seeing right now,” Rick Palacios Jr., head of research at John Burns Real Estate Consulting, tells Fortune.

    This looming home price correction, Palacios says, will be the most pronounced in frothy markets like Boise and Las Vegas. In fact, he says Boise could be the first major market to post a year-over-year home price decline. That could even occur before the end of 2022.

    Inventory is arguably the best indicator for how fast a market is shifting. If active inventory gets too high, it increases the chances a market could experience a home price correction. That’s why Fortune pulled Realtor.com inventory data for Austin, Boise, and Las Vegas. We wanted to see if they’re actually inching toward a correction.

    In July 2020, Fortune called Austin the No. 1 housing market in the country to invest in real estate during the pandemic. Our theory was that Austin was poised to boom. We were right.

    Amid the pandemic, Austin saw a flood of new residents. That includes individuals like comedian Joe Rogan, venture capitalist Keith Rabois, and Tesla CEO Elon Musk, while companies including Tesla and Oracle also moved to town. It all culminated in a historic housing boom.

    Spiked mortgage rates in 2022, of course, have flipped the script. In July, Austin inventory sat at 7,794 homes—compared to 3,063 homes for sale during the same month in 2021. On a year-over-year basis, that’s a 154% jump.

    While homebuilders across the country have brought back incentives to help entice buyers, many builders in Austin have already turned to home price cuts. If the market continues to slow, existing homes could soon also see price cuts.
    …
    fortune.com/2022/08/16/bubbly-housing-markets-are-shifting-historically-fast-austin-boise-las-vegas/

    1. Las Vegas
       Looks like the little lion house that I’ve been watching out of curiosity (listed at $699K in May, latest $450K) has found a buyer, apparently at that price, since the Zestimate has automagically adjusted. Marked pending, I will be interested to see if it makes it over the finish line.

       I saw a young girl in a towel with her belongings strewn about her at the intersection just south of Tropicana on Pecos. Pretty busy road at that point going north and somebody had stopped right next to her either to help or to hurt, couldn’t tell from my vantage point. Even back in 2010/2011 you never saw that, though you could always count on being hit up for cash in parking lots.

65. New Poll: Most Americans Believe the FBI Is Now ‘Biden’s Gestapo’

    https://pjmedia.com/news-and-politics/robert-spencer/2022/08/20/new-poll-most-americans-believe-the-fbi-is-now-bidens-gestapo-n1622668

    Up until recently, it would have been unthinkable, but one of the numerous catastrophic consequences of the Biden administration’s reign of terror has been a plummeting of trust in once-revered institutions. Former Trump advisor Roger Stone said it in November 2021: “We have a group of politicized thugs​ ​at the top of the FBI who are using the FBI … as Joe Biden‘s personal Gestapo​.”

    After the FBI’s raid on Trump’s Mar-a-Lago, Rasmussen Reports surveyed Americans regarding their attitude toward the FBI and reported on Thursday that “a majority (53%) of voters now agree with Stone’s statement — up from 46% in December — including 34% who Strongly Agree.” That’s an extraordinarily severe credibility problem for the FBI. But will they do anything to correct this impression? Almost certainly not.

    1. Unless it is stopped, the Deep State’s grip on the country is going to become so firm and relentless that they will simply cancel all elections indefinitely.

       Remember the video where the cop orders an at the moment unidentified ATF agent to the ground and the ATF agent refuses to comply, even though the cop has a gun aimed at him? He almost seemed amused. I was expecting him to order the cop to desist, because he was a Fed and would ruin his life forever if he didn’t back off.

66. Trump

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