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It’s Evident That Sellers Are Trying To Catch The Tail End Of The Frenzy … But They Just Missed It

A report from the News and Observer in North Carolina. “In a more buyer-friendly market, said Yoana Nin, a local real estate agent whose firm serves the Triangle region. Homesellers must now ‘put in more effort’ and be willing to price homes more reasonably. ‘I think a lot of sellers are living the six-months-ago times when they think that overpricing is OK, and it’s going to get them whatever they want,’ Nin said. ‘We’re finally seeing some stabilization (on pricing), which is healthy. Nobody wants to be crazy.'”

From Alexandria Living. “Home sales are down quite a bit from this time last year — almost 29% down, according to the Northern Virginia Association of Realtors. The median sold price for a home in July 2022 was $650,000, down from June’s $684,500. ‘More options are available to homebuyers now that the market is calming. It remains a seller’s market, but the feeding frenzy has subsided somewhat. Sellers need to put their best foot forward when entering the market because buyers simply do not have the appetite or the energy to deal with unrealistic sellers. Well-maintained, updated properties that are priced correctly are still in very high demand,’ said Heather Embrey, NVAR President-Elect.”

The Orlando Business Journal in Florida. “Homebuyers no longer are at the complete mercy of sellers as the Central Florida housing market enters a new, calmer stage. In metro Orlando, 41.7% of homes for sale in July had a price drop, way up from 26.8% of homes last July, per Redfin. Likewise, price cuts are becoming more common in most U.S. markets, which means sellers are likely to change their tactics, Redfin Deputy Chief Economist Taylor Marr. ‘They’ll likely start pricing their properties lower from the get-go and become increasingly open to negotiations.'”

“That’s the case in Orlando. For example, Mainframe Real Estate LLC Realtor Anne-Marie Wurzel told Orlando Business Journal she is witnessing a change after two years of a ‘fantasy land’ market in which prices only went up and sellers made few concessions. ‘If we go back to a more normal environment, that’s OK. I think everybody really wants that … I’m seeing price adjustments and days on market are longer.'”

The Kansas City Star. “Home prices in the Kansas City area may be leveling off after years of record high prices. July data from Zillow shows Kansas City area home prices fell from June prices for the first time in seven years. The inventory of available homes is increasing — although slowly — and the number of listings with price cuts are on the rise. ‘They’re not gone in 24 to 48 hours with 15 offers like 2021,’ said Kansas City Realtor Jenny Delich. ‘It’s allowed for a leveling, but we’re not anywhere near six months of inventory to have a balanced market.'”

From Candy’s Dirt in Texas. “The Greater Fort Worth Association of Realtors (GFWAR) reported that 50 percent of all active listings in Fort Worth had a price reduction in July. Obviously, Toto is not in Kansas anymore. Certainly, sellers are bummed out the most now that the days of multiple-multiple, way-over-asking offers, and single-digit days on market have simmered down. That is not to say that multiple and over-asking offers no longer exist because they do. However, the majority of homes currently on the market are staying on the market a little bit longer (Oh no … 30 days!).”

“With a 40 percent increase in listings from July 2022 compared to July 2021 it’s evident that sellers are trying to catch the tail end of the frenzy … but they just missed it. Price Improvement. Price Reduction. Pricing Adjustment. Perfected Pricing. Pretty Pretty Please Pricing. The list of hilarious terms and phrases from Realtors to notify of a price drop is so amusing. I have to admit I am one of those real estate sales professionals that is constantly seeking new terminology to say, ‘Hey, we tried on a higher price but now the market has shifted so we are dropping the list price … so bring me a buyer and a contract!'”

The Philadelphia Inquirer. “Toll Bros., the Fort Washington-based builder of million-dollar homes, says it suffered a 60% drop in new orders during the three months ended July 31. ‘There is little consolation or ways to sugarcoat’ the ‘dramatic’ drop in new orders, home-stocks analyst Buck Horne told clients at Raymond James Financial Inc. in a report. At about $47 a share, Toll’s price now reflects only the approximate ‘book value’ of the properties it controls, and not future profits. That’s a big change from last December, when Toll shares briefly topped $75.”

“‘As soon as mortgage rates took off in reaction to rising long-term interest rates, housing demand cooled, and the euphoria that infected the housing market ended,’ James M. Meyer, chief investment officer at Tower Bridge Advisors, told clients.”

From CNBC. “Home prices declined 0.77% from June to July, the first monthly fall in nearly three years, according to Black Knight. While the drop may seem small, it is the largest single-month decline in prices since January 2011. It is also the second-worst July performance dating back to 1991, behind the 0.9% decline in July 2010, during the Great Recession. Some local markets are seeing even steeper declines over the last few months. San Jose, California, saw the largest, with home prices now down 10% in recent months, followed by Seattle (-7.7%), San Francisco (-7.4%), San Diego (-5.6%), Los Angeles (-4.3%) and Denver (-4.2%).”

The Telegraph in the UK. “Banks and surveyors are ‘down valuing’ as many as half of homes in some parts of the country amid fears sharp house price falls are on the horizon. Anthony Harris, of Continuum, a financial advice firm which manages over £1.53bn in mortgages and other assets, said: ‘I am seeing more than 50pc of purchase applications being down valued at present.’ This level is likely to rise further, he added. ‘Sellers are asking high prices and there always seems to be more than two buyers who are prepared to enter a bit of a bidding war, pushing up prices further. But the lenders’ surveyors are not supporting the prices agreed.'”

The Korea Herald. “The housing market in Seoul appears to have entered a period of stagnation not only with the prices of apartments — the major residential type in the city –dropping, but also the number of transactions falling due to increased interest rates on loans, data showed. Even Seocho-gu, a residential district in southern Seoul with high demand that had resisted any price drop since the third week of February, saw trading prices finally fall last week. For the third quarter of this year, 54.7 percent of Seoul apartments on the market have traded at a lower price — the highest percentage of cheaper housing trading observed in the recent decade.”

“In the first quarter of this year, only 3,333 apartments were traded in Seoul — the least traded during a quarter since 2013. ‘Housing transactions are not taking place even though the apartments are on the market at a lower price. That is how much the apartment market in Seoul has contracted,’ said an official from Korea Real Estate Board.”

Stuff New Zealand. “The Reserve Bank now predicts house prices could fall up to 20% from their peaks. Depending on where you sit that is a serious concern, or music to the ears. To investor Matthew Ryan, the Reserve Bank’s prediction is more than a forecast – it is a stated intention. ‘When you control some or a portion of the market pricing mechanism, your statements are not prediction, they are guidance on intended policy direction and outcomes,’ he said. ‘If you provide free sweets to children, but then go ‘we can’t believe we’ve created some tooth decay for the dentist to look after’, I can’t quite work it out myself,’ he said. ‘They handed out money like it was lolly water, but then they take no responsibility when everyone is turning up the dentist.'”

“Ryan said the market had already fallen 20%, but the data was lagging because sellers were refusing to accept the new going-rate, resulting in sales not happening, and the true prices buyers were willing to pay not being captured by analysts. ‘It’s a classic example of does the person in the boiler room of the Titanic actually understand what’s happening on the deck? I don’t think he (Orr) has a very good sense of where business and people’s attitude is.’ Ryan said there was no doubt buyers in 2021 overpaid, after giving in to a ‘sheep mentality.'”

Daily Mail Australia. “The managing director of a collapsed building giant is at risk of losing his $5million luxury mansion – with furious creditors setting their sights on the waterfront palace. Oracle Building Corporation Pty Ltd – also known as Oracle Hunter Homes and Oracle Platinum Homes – was wound up at a general meeting on Wednesday, leaving up to 300 half-built properties across Queensland and NSW. At least one creditor the company’s boss, Tom Orel, owes money to has since laid a legal claim on his six-bedroom home on the Gold Coast.”

“But the Orels still have the property to return to, while hundreds of families can only despair at their dreams of building a new house – after the builder spectacularly went under. Would-be homeowners flooded social media to express their anger and devastation as the company collapsed. ‘We just lost our deposit,’ one customer claimed … ‘Oracle Platinum Homes has gone into liquidation.’ Another said they had ‘just lost $25k’. ‘Biggest nightmare of our lives dealing with this company, so much money lost, no compassion or understanding,’ another post read.”

The Sixth Tone on China. “Wang Xudong and Zhou Zongzhen pick their way through the darkness toward their home: a half-finished apartment block on the outskirts of Xi’an. The 33-story building is little more than a concrete skeleton. Its façade hangs open, the brick walls connecting the columns only half-built. Plastic tarpaulins flap against the scaffolding in the late evening breeze. Wang and Zhou have occupied one of the empty units on the fourth floor. There is no running water or electricity, a single solar lamp providing the sole illumination. The only furniture consists of two single iron beds pushed against one wall, and an unpainted wooden board serving as a makeshift table.”

“But the pair, who are both 60 years old, have resolved to put up with the basic conditions. They feel they have no other choice. ‘Although life is rudimentary here, we no longer have to worry about the monthly rent,’ Wang tells Sixth Tone. ‘We bought it. We own it. It’s our home.'”

“Wang, Zhou, and nearly 100 other homeowners moved into the unfinished apartment compound — Jinling Apartment — just over three months ago. It was an act born of desperation and defiance. Like thousands of others in China, they have poured their savings into buying a presale apartment — only to see the developer fall into financial difficulties and halt construction on the project.”

“A dozen workers arrived to add the insulation layer to the building’s outer wall, and hundreds more window glass panes were delivered to the site, according to Wang. But before the windows could be installed, the workers had disappeared again. ‘I felt cheated,’ says Wang. ‘The court said executing the judgment can wait until the developer has the capital in its account.'”

“Song Jia, 45, bought one of the units inside Jinling Apartment shortly after getting divorced. During the initial disputes with the developers, she was living in an urban village across town. Each time the homeowners met at the development, she had to travel for six hours, changing buses twice. Later, she moved closer, but she has also had to move multiple times due to the sweeping redevelopment. The stress has taken a heavy toll on Song, who spoke with Sixth Tone using a pseudonym for privacy reasons.”

“‘When I bought this home, I thought that instead of renting a house I could have a nest of my own after getting divorced. But the reality is I have been drifting around all these years,’ says Song, bursting into tears. ‘No one knew the road ahead would be so difficult. Every time I want to cry, I pretend to laugh.'”

“A 67-year-old homeowner, surnamed Qu says he sometimes struggles to sleep at night, tortured by the idea that he has ‘been fooled.’ ‘I was willing to do all kinds of hard and dirty work during the first half of my life. The idea was that no matter how hard I worked, I had to buy a flat in the city,’ says Qu, who grew up in a mountainous part of Shaanxi with scant health care resources. ‘The fate of this home will determine my whole life. I bought it because I hope to spend the rest of my life here … I’m very distressed.'”

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This Post Has 121 Comments

  1. The last article is worth reading in full.

    ‘Home prices in the Kansas City area may be leveling off after years of record high prices. July data from Zillow shows Kansas City area home prices fell from June prices for the first time in seven years. The inventory of available homes is increasing — although slowly — and the number of listings with price cuts are on the rise. ‘They’re not gone in 24 to 48 hours with 15 offers like 2021’

    This shows what a mess this is. Little sh$thole cities and towns everywhere have been put into trouble.

  2. ‘Sellers need to put their best foot forward when entering the market because buyers simply do not have the appetite or the energy to deal with unrealistic sellers’

    You tell em Heather, we’re sick of their BS!

    1. When hangry realtors start telling greedhead sellers to go pound sand with their delusional wish prices, that’ll help get this party started.

  3. ‘As soon as mortgage rates took off in reaction to rising long-term interest rates, housing demand cooled, and the euphoria that infected the housing market ended’

    This strange bubble within a bubble that was CCP virus/insane central bank money printing only needed a tiny rate increase to pop.

    1. Friends know I’ve been looking to buy for a few years. I told them I was waiting for interest rates to rise and the FED to stop buying MBS. Thanks to this blog, I knew those two things would pop the bubble. Echoing PB’s sentiment, it’s required more patience than anticipated.

      1. Yes, it’s been a too long wait (IIRC, housing started down a bit in 2014, and in 2018 before getting juiced by the feds), but now that it’s finally started it seems to be going faster than last time (CA prices peaked in 2005, but the bubble didn’t start popping until 2007).

        And because the bubble is bigger, the popping is probably going to be worse. AND add in the so-called “tech” bubble bursting, areas with a lot of those money-losing companies are going to get a double hit (should have a major impact up here, not sure about your area).

      2. ‘Echoing PB’s sentiment, it’s required more patience than anticipated.”

        Waiting for the deflation that should follow a bubble. Takes a long time when the federal government causes inflation by handing out money, forgiving debt and experimental energy policy.

      3. more patience than anticipated

        I have some measure of patience. Once a neighbor sat on his porch and watched me stalk a groundhog in the garden and kill it with a shovel. Not having the patience to wait out the housing madness, I played an entirely different game.

      4. I wish you the best of luck with maintaining patience until the bust nears its conclusion. For comparison, the wheels started coming off last time in late 2006, when subprime was imploding. Buying in 2008 would have been too early, but I have friends who bought in the 2010-2012 window who got much better deals than were available for many years before or since. The last time we bought a place was in 1996, roughly five years after prices started cratering.

        It’s worth waiting out the repeat of the Housing Bubble stages of grief that is soon to happen, if your life circumstances allow it.

        1. Yahoo Finance
          Housing: BofA downgrades three homebuilders as housing downturn accelerates
          Dani Romero
          Thu, August 25, 2022 at 11:32 AM·3 min read

          Analysts from Bank of America cutting their rating on shares of three homebuilders in a note out Thursday as the housing market faces an economic slowdown.

          Rafe Jadrosich at Bank of America Global Research downgraded shares of Lennar (LEN) to Underperform from Neutral, and shares of KB Home (KBH) and Toll Brothers (TOL) to Neutral from Buy, as rising interest rates challenge affordability for buyers.

          “New home demand has reset lower over the last three months following two years of unprecedented growth,” Jadrosich wrote. “Homebuilder earnings and industry data indicate a sharp demand deceleration in June/July as a result of worsening affordability and lower consumer confidence.”

          Earlier this week, Toll Brothers reported quarterly results that revealed lower delivery expectations and increased incentives amid what CEO Douglas Yearley called a “more of a buyer’s market.”

          “Public builders have remained disciplined with incentives so far,” Jadrosich added, “but we see risk that incentives (especially from private builders) will increase going forward given the weak absorption pace and a significant amount of new unsold inventory scheduled to be completed later this year.”
          …
          https://finance.yahoo.com/news/housing-market-bank-of-america-downgrade-173236691.html

  4. ‘I think a lot of sellers are living the six-months-ago times when they think that overpricing is OK, and it’s going to get them whatever they want’

    That’ some sound lending right there.

    1. When discussing price, realtors should have sellers calculate the monthly payment in January versus today.

      1. Realtors should have sellers do this one too from below but for their home prices: In Jan 2021, the 30-yr mortgage rate was 2.65% and average new home price in the US was $401,700. Today the 30-yr mortgage rate is 5.65% and average new home price is $546,800. Assuming a 20% down payment, that’s a 95% increase in the monthly payment (from $1,294 to $2,525).

  5. More than 20 million Americans are behind on their utility bills

    Katie Wedell
    USA TODAY
    August 224, 2022

    More than 20 million households – about 1 in 6 American homes – are currently behind on their utility bills, according to the National Energy Assistance Directors Association (NEADA) as reported by Bloomberg.

    The NEADA said those households owe a combined $16 billion in unpaid utility bills, double the pre-pandemic total. The average balance owed has climbed 97% since 2019, to $792, according to the NEADA.

    Mostly to blame, according to Bloomberg, is a surge in electricity prices, propelled by the soaring cost of natural gas.

    https://www.usatoday.com/story/money/2022/08/24/20-million-americans-are-behind-on-their-utility-bills/7884197001/

    1. If 1 in 6 ‘Muricans can’t pay their utility bills, how are they supposed to pay their rent or mortgage?

      1. “If 1 in 6 ‘Muricans can’t pay their utility bills”

        Back in the mid 80s when I was in between wives with no kids before I went to rehab (a time that wasn’t all bad when some things happened that still make me 🙂 ) I discovered it was better to have your electric turned off than your water because a cold shower was better than no shower at all.

      2. “…how are they supposed to pay their rent or mortgage?…”

        Zactly, let alone up bid for a new crap shack.

        But wait, there’s more.

        What’s next in the [government] hopper? Utility bill forgiveness?

        Folks, if that happens, we are really done. And there is no going back.

      3. how are they supposed to pay their rent or mortgage?
        As a new data point for housing. My last apartment raised rents 40% in 2 years so I moved.
        My new complex just LOWERED the rent 0.33% for the same contract length. Not a big drop, but a drop nonetheless and hopefully a sign of bigger drops in the future.

    2. More than 20 million households – about 1 in 6 American homes – are currently behind on their utility bills

      I’ll bet most of them live in high cost, progressive areas where electricity is expensive. Like PG&E, where prices are 30-50 cents a kilowatt hour.

      At 50 cents a kwhr solar panels be pencil out. But you need money to install those, and contrary to long running promises, they have not gotten cheaper, to the contrary, they cost more than before.

    1. “I didn’t shut down anything”?

      Fauci Urges National Stay-at-Home Order: ‘I Don’t Understand Why That’s Not Happening’

      Mairead McArdle
      April 3, 2020·2 min read

      Dr. Anthony Fauci, chief medical advisor to the Trump administration’s coronavirus task force, endorsed a national stay at home order on Thursday, contradicting President Trump, who has resisted calls to issue such a sweeping order to stem the spread of the pandemic.

      “I don’t understand why that’s not happening,” Fauci responded on CNN when asked whether states have to be “on the same page” regarding ordering residents to leave the house only for essential trips.

      “You know, the tension between federally mandated versus states’ rights to do what they want is something I don’t want to get into,” the director of the National Institute of Allergy and Infectious Diseases continued during the network’s coronavirus town hall. “But if you look at what’s going on in this country, I just don’t understand why we’re not doing that. We really should be.”

      https://sports.yahoo.com/fauci-urges-national-stay-home-140751779.html

      1. Big Pharmacy paid for fake narrative news and the face of Science Dr Fauci and Dr Brix , defrauded the Nation to lockdown , wear useless masks , take fake poisonous vaccines.
        Mega Corporations under the WEF, colluded with the medical fraud and tyranny , and at one point were mandating that employees take the jab or lose their job.
        They all shut down and censored any dispute or facts opposing the fear mongering controlled narratives.
        Effective med treatments were supressed and demonized for killer protocols instead.

        At the time fake news was accusing Trump of killing 200 thousand people as Joe Biden was as his Presidential rival.

        So, I predict Fauci will say that he didn’t lock down , it was the choice of the States. At the time Fauci and that other shill wanted Trump to call a Federal Lockdown , but Trump just turned it over to each State to decide .
        Trump wanted to open up again by Easter, and all he said about life saving meds was undermined by Fauci and fake news.
        Mega Corporations !ooted the tax coffers by the Care Act, and small business was destroyed by the lock down.
        Hospitals got Cares Act incentives to have killer mal practices protocols.
        This response to the alledged Covid Panademic was all pre planned , as the evidence shows.
        If the Covid , and all the false narratives and unscientific response isn’t seen in its entirety as a fraudulent scheme to loot billion of dollars , bring on medical tyranny, and get a fake poison vaccine in every arm, with booster after booster, with vaccine passports, than the people won’t get the Justice they deserve over these epic crimes.

        Fauci/ Brix will try to set up Trump to be the fall guy.

      2. I don’t remember what we called them, but it definitely wasn’t lollies. That sounds like what a pedo would call them.

  8. Oh dear….

    US housing market is in ‘much worse shape’ than Fed is letting on – and ‘sharp’ drops in prices are on horizon as policymakers work to lower inflation, economist warns

    https://www.dailymail.co.uk/news/article-11144025/US-housing-market-worse-shape-Fed-letting-economist-warns.html

    The U.S. housing market is in significantly worse shape than the Federal Reserve is saying, a top economist has warned – and prices will soon fall sharply.

    Ian Shepherdson, chief economist at Pantheon Macroeconomics, said that the outlook for housing sales is even more grim than the Fed has said, and the ‘worst is yet to come’ for home prices.

  9. Kiwis elected globalist Quislings who gave their central bank free rein to blow a massive housing bubble. Now the chickens are coming home to roost.

    Battered Kiwis abandon sinking New Zealand housing market

    https://www.macrobusiness.com.au/2022/08/battered-kiwis-abandon-sinking-new-zealand-housing-market/

    ASB’s latest Housing Confidence Survey shows that Kiwis “housing confidence has finally cracked”, with confidence falling to a 13-year low amid rising mortgage rates and heavy price falls:

  10. A reader sent these in:

    Not Jerome Powell

    This is not GameStop, AMC or even Bed Bath and Beyond. It’s electricity prices in Europe

    https://twitter.com/alifarhat79/status/1562509582613655553

    In Jan 2021, the 30-yr mortgage rate was 2.65% and average new home price in the US was $401,700. Today the 30-yr mortgage rate is 5.65% and average new home price is $546,800. Assuming a 20% down payment, that’s a 95% increase in the monthly payment (from $1,294 to $2,525).

    https://twitter.com/charliebilello/status/1562086422131232768

    Mortgage payments exploding out of control with rates near 6% now

    https://twitter.com/DonMiami3/status/1562522569693347840

    Liz Ann Sonders

    New single-family home supply is surging … at 10.9 months in July, now highest since March 2009

    https://twitter.com/LizAnnSonders/status/1562380453511802880

    This housing market collapse is unprecedented in its velocity. Bulls are betting on a soft landing this time around.

    https://twitter.com/SuburbanDrone/status/1562125327891107840

    Housing market trends lead economic and labor market cycles by 6-12 months. Right now, the US housing market is signalling unemployment rate will likely be above 6% in 2023: another data point which is inconsistent with a soft landing.

    https://twitter.com/MacroAlf/status/1562477584654409728

    1. So Europe is approaching 60 cents per kilowatt hour. PG&E’s tiered plan charges up to 50 cents per kilowatt hour. I pay a flat rate of 11 cents.

      If I had to pay that much I could not afford to run the A/C

        1. $205, and we had day after day of 95+ days. It’s already 10 degrees cooler now so next month’s bill should be more like $140

          3. Welcome to San Diego, owned and operated by SDG&E.

            Also, houses out here are far better insulated than they are in SoCal. Last month the A/C blew a capacitor on a hot day. We were without A/C for about 24 hours. The warmest it got indoors was 77 (90+ outside)..

          4. Old house, attic fan and jet engine A/C. Less than ideal, but when you pay less than market rate for rent with flexible landlords you deal with it.

      2. “If I had to pay that much I could not afford to run the A/C”

        So roughly June through mid September well north of Denver?

          1. I’m at 47.19-degrees N latitude (Columbia Basin area), so our summer heat spell is shorter than yours, but we still get mighty hot in July and August averaging 102-degrees F, and usually peaking once around 111-degrees, but we hit 118-degrees last summer, which was an anomaly. The real issue is that the evenings don’t cool much, roughly 90-degrees around midnight and 82-degrees around dawn. The newer spec homes have heat-pump systems, the older homes cool with swamp coolers.

          2. We are at 40 degrees north, and at 5000 ft elevation. It is rare for a summer high to be higher than 100F. It’s 77 right now.

    2. – Shot:
      “In Jan 2021, the 30-yr mortgage rate was 2.65% and average new home price in the US was $401,700. Today the 30-yr mortgage rate is 5.65% and average new home price is $546,800. Assuming a 20% down payment, that’s a 95% increase in the monthly payment (from $1,294 to $2,525).”

      https://twitter.com/charliebilello/status/1562086422131232768

      – Chaser:

      Charlie Bilello @charliebilello

      “This monthly payment comparison does not include property taxes, insurance, utilities, and repairs/maintenance which have all seen significant increases as well.”

      8:38 AM · Aug 23, 2022·Twitter Web App

      https://twitter.com/charliebilello/status/1562086787086000131

      – Specu-vestors are exiting the market en masse, which leaves shelter-buyers who were priced out before rates went up. What happens now?

      1. “What happens now?”

        Millions of homeless families and houses sitting empty. Meanwhile, the industry professionals collected their commissions and/or fees.

  11. “Home sales are down quite a bit from this time last year — almost 29% down, according to the Northern Virginia Association of Realtors.

    Is that a lot?

  13. I can’t help but feel bad for the Chinese people. Most of them are scared to death of their government and I can understand then doing anything to get what they think might be theirs.

  14. ‘A group of independent German scientists found toxic components—mostly metallic—in all the COVID vaccine samples they analyzed, “without exception” using modern medical and physical measuring techniques.’

    ‘The Working Group for COVID Vaccine Analysis says that some of the toxic elements found inside the AstraZeneca, Pfizer, and Moderna vaccine vials were not listed in the ingredient lists from the manufacturers.’

    ‘The following metallic elements were found in the vaccines:

    Alkali metals: caesium (Cs), potassium (K)
    Alkaline earth metals: calcium (Ca), barium (Ba)
    transition metals: cobalt (Co), iron (Fe), chromium (Cr), titanium (Ti)
    Rare earth metals: cerium (Ce), gadolinium (Gd)
    Mining group/metal: aluminum (Al)
    Carbon group: silicon (Si) (partly support material/slide)
    Oxygen group: sulphur (S)

    ‘These substances, furthermore, “are visible under the dark-field microscope as distinctive and complex structures of different sizes, can only partially be explained as a result of crystallization or decomposition processes, [and] cannot be explained as contamination from the manufacturing process,” the researchers found. They declared the findings as preliminary.’

    ‘The findings “build on the work of other researchers in the international community who have described similar findings, such as Dr. Young, Dr. Nagase, Dr. Botha, Dr. Flemming, Dr, Robert Wakeling, and Dr. Noak,” Dr. Janci Lindsay, Ph.D., a toxicologist not involved in the study, told The Epoch Times.’

    “The number and consistency of the allegations of contamination alone, coupled with the eerie silence from global safety and regulatory bodies, is troublesome and perplexing in terms of ‘transparency’ and continued allegations by these bodies that the genetic vaccines are ‘safe,’” Lindsay added.’

    “It should be acknowledged of course that [German Working Group’s] work is described as ‘Preliminary Findings,’ not yet published in a peer-reviewed journal and that chain of custody as well as the identity of many of these scientists is unknown. However, in this heavily charged and censored climate when it comes to any challenges to the ‘safety and efficacy’ of the genetic vaccines, I myself can attest to the difficulties in conducting the basic research, much less publishing that same research in a peer-reviewed journal, in order to get at these questions as well as disseminate the findings,” Lindsay said.’

    https://www.theepochtimes.com/unusual-toxic-components-found-in-covid-vaccines-without-exception-german-scientists_4673873.html

    1. can only partially be explained as a result of crystallization or decomposition processes

      Some problems with this. Crystallization and decomposition do not form or destroy elements. I don’t think a science person would say such a thing.

      The presence of elements means nothing without quantity. I’m surprised Arsenic isn’t on the list. In my experience it is in everything.

  15. Price Improvement. Price Reduction. Pricing Adjustment. Perfected Pricing. Pretty Pretty Please Pricing. The list of hilarious terms and phrases from Realtors to notify of a price drop is so amusing.

    Realtors are liars.

  16. Will China be the first country where the Keynesian fraudsters at the central banks lose control?

    China’s desperate 19-point plan revealed as economy seriously weakens

    https://www.news.com.au/finance/economy/world-economy/chinas-desperate-19point-plan-revealed-as-economy-seriously-weakens/news-story/a0a15e26f2687796e09412e83f85a5a2

    Chinese leaders have unveiled a multibillion-dollar plan to rescue the world’s second-biggest economy as it reels from crisis after crisis.

    1. Hair-of-the-dog hangover treatments only work up untill the alcoholic dies of liver poisoning.

  17. Biden is right: A lot of students at elite schools have student debt

    Adam Looney Wednesday, March 3, 2021

    Biden was right. Even though elite schools represent a small fraction of all undergrads, affluent students at elite schools borrow a lot. In 2014 (the last year for which data was available), Harvard students owed $1.2 billion, Yale students $760 million, and University of Pennsylvania students a whopping $2.1 billion, according to an analysis I produced with Constantine Yannelis. Students at other elite schools, like the University of Southern California, NYU, and Columbia, owed billions more.

    https://www.brookings.edu/opinions/biden-is-right-a-lot-of-students-at-elite-schools-have-student-debt/

      1. Biden is right: A lot of students at elite schools have student debt

        Adam Looney Wednesday, March 3, 2021

        According to the Department of Education’s College Scorecard, students who graduated or withdrew in 2017 or 2018 from elite or highly selective colleges and graduate programs (as ranked by Barron’s) owed about 12 percent of all student debt in those years, but account for only four percent of all borrowers.

        Students from elite colleges owe a disproportionate share of student debt in part because of the large graduate and professional degree programs at those schools. Harvard, for example, is the country’s largest law school, most of its students borrow, and the average borrower graduates with about $143,000 in student loans. Harvard Law graduates probably owe taxpayers more than half a billion dollars—loans they can and should pay back. And that applies not just at Ivy League schools but at many institutions with advanced degree programs. Nationwide, more than 40 percent of student loans were used to pay for graduate or professional programs. And the degree programs that are the largest sources of student debt are MBA programs and law schools.

        Some undergraduate students from elite colleges also accumulate student debt because their institutions are more expensive, they have longer academic careers, and they are more likely to go on to elite graduate and professional programs that pay off handsomely in higher wages. They are often the ones with the largest amounts of student debt but also the ones who gained the most from their education.

        1. We know its vote buying..but i could be ok if you made say $40K or less, but not $125K…. And no college with Billons in endowments has stepped up to the plate and said we will help our alumni pay off their debt..hmmm

  18. For decades the UK sheeple have elected a series of globalist Quisling governments who sold off their energy grid to Enron-style “private equity” bloodsuckers, while giving their criminal central bankers free rein to print with wild abandon. Now the sheeple are getting what they voted for, good & hard.

    UK Government Warned of “Civil Unrest” Over People Being Unable to Pay Energy Bills

    https://summit.news/2022/08/25/uk-government-warned-of-civil-unrest-over-people-being-unable-to-pay-energy-bills/

    Energy executives in the UK have warned the government that the country faces the prospect of mass civil unrest as a result of people being unable to afford their heating and electricity bills this winter.

    1. UK Government Warned of “Civil Unrest” Over People Being Unable to Pay Energy Bills

      Sounds like a great time for a UK vacation. /sarc

  19. San Jose, California, saw the largest, with home prices now down 10% in recent months, followed by Seattle (-7.7%), San Francisco (-7.4%), San Diego (-5.6%), Los Angeles (-4.3%) and Denver (-4.2%).”

    The common denominator here is Democrat-Bolshevik malgoverance.

  22. How to find home buying deals in the Bay Area housing market
    Aug 25, 2022 If you were following the Bay Area housing market for a while, you developed a way to read “home for sale” listings. At the peak of the market this spring, it was easy to dismiss most of them as “unaffordable” or just “not for me”. Homes were selling the day they were listed and for prices no one would be able to anticipate. Competition was fierce! Then inflation kicked in and Feds started pumping breaks to slow down the economy and now we are seeing the effects of their efforts on the real estate market.

    Bay Area real estate market is softening. At the time of this video about 1/3 of homes in Santa Clara County and roughly 20% of homes in San Mateo County had at least one price reduction. What signs should you look for to recognize good buying opportunities that these new market conditions present.

    1. Look at the time on market. During the spring selling season median time on the market was as short as 7 days. It means that half of the homes that came to the market were sold in 7 days or less. For the whole last year, the median time on market was only 8 days, the fastest pace of sales ever. At the time of this video, median time to sell grew to 18 days. Why median time on the market is important? In any market, sellers begin to wonder why their home is not selling when other homes are selling before theirs. That is the time when they start to wonder if their home will sell and at what price. That is the time when sellers will start considering price reductions and may become ready to accept an offer that is below their initial expectations.

    2. Review the price change history. When the home is on the market for 20, 30 or more days, no price changes, it is an indicator of the owner’s refusal to recognize the changing market conditions. This seller is willing to wait for that one unique buyer who will pay full price for their home. Another seller may decide to make a huge price drop, they are telling the world that they are motivated to make a deal – bring your best offer! A third option is when seller is chasing the market down by making small price adjustments. Catching an owner like that at the right moment and submitting a clean, easy to accept offer may allow you to snatch this home without any competition.

    3. Evaluate the competition. When searching for homes, always note similar properties in similar neighborhoods, not just the same floor plan or architectural style. Note homes with the similar lot sizes, similar square footage, same school districts, access to commute routes, etc. Even when you don’t like these homes, they are in competition with the home you want to buy. When you have more homes on the market, like now, there is more competition and competition removes buyer’s sense of urgency. It gives you more time to consider different properties, compare them and do additional investigation prior to committing to writing an offer.

    https://www.youtube.com/watch?v=J5XsCep1uOI

    6 minutes.

  23. I’m liking this coordinated effort to collapse housing prices and run it right up the ass of borrowers. Even the leader in housing price data Movoto has changed their website to show a big fat bell curve….. soon to be a ski slope…. for years to come.

    Happy Valley, OR Housing Prices Crater 13% YOY As Soaring Mortgage Defaults And Skyrocketing Inventory Blows The Doors And Windows Off Portland Housing Market

    https://www.movoto.com/happy-valley-or/market-trends/

  24. Gosh, I hope “fuel poverty” doesn’t impact British FBs’ ability to pay the mortgages on their insanely overpriced shacks.

    Half Of UK Households Will Be In Fuel Poverty By January

    https://oilprice.com/Latest-Energy-News/World-News/Half-Of-UK-Households-Will-Be-In-Fuel-Poverty-By-January.html

    As many as half of British households may be facing fuel poverty because of the inexorable rise in energy prices, EDF, the French utility that also has business in the UK, has warned.

    “When you look at the figures more than half of UK households will be in fuel poverty in January, meaning they will have to spend more than 10% of their disposable income on their energy bill,” Philippe Commaret, managing director of customers at EDF told a BBC TV program, as quoted by Energy Live news.

      1. “…Mixed with sugar, they taste just like the real thing…”

        Oh, great, just what a typical diet really needs – more sugar.

        No thank you.

  27. The Financial Times
    US politics & policy
    Joe Biden’s student debt cancellation triggers ‘inflationary fire’ fears
    President fulfils campaign pledge by wiping out billions in loan payments but economists worry it will stoke price rises
    Students at the University of California, Berkeley. The US will cancel $10,000 in debt for those making $125,000 a year or less
    Kiran Stacey in Washington yesterday

    Joe Biden’s historic cancellation of billions of dollars in student loan debt, a move long-awaited by progressives, has come at a precarious moment for the US economy.

    “This means people are going to start to finally crawl out from under that mountain of debt . . . to finally think about buying a home or starting a family or starting a business,” the US president told reporters at the White House on Wednesday. “And by the way, when this happens, the whole economy is better off.”

    While those words delighted those waiting for him to fulfil his campaign pledge to help borrowers drowning in student debt, they also worried some economists who believe that with consumer price inflation at a 40-year high, this is the worst time to give it further fuel.
    …

    1. While those words delighted those waiting for him to fulfil his campaign pledge to help borrowers drowning in student debt

      If you owe $100K, 10K barely makes a dent in it.

  28. the latest Wall Street journal headline, “Pension Funds Are Selling Their Office Buildings”

    Cash .. stacks of unencumbered cash…. People are willing to do anything to get their hands on it. Some kill for it. Most pretend they have it when actually it’s just the opposite. Desperate for cash …not rapidly depreciating assets like houses and cars or promise of future payments……just cash. I love the sound of the word.. cash. Most don’t have any.. those that do have promised it to others and its claimed.

    Caaaaaaaaaash

      3. It is being reported that Craigslist bought an office building in 2012. It is only 22% occupied. They have been trying to sell it for a while and now are trying to get just a tad over what they bought it for just to unload it.

        Is it the overwhelming smell of granola, grass, and body odor keeping people away? Or maybe it’s the fact that you can’t be sure what kind of multigendered relations have occurred on the office furniture. Either way, if the hippies at Craigslist can’t even rent out 25% of their office spaces in the premier libtard utopia, things must be really bad. I feel like I should end this with ‘this sucker could go down’ but since we’re discussing San Francisco, it just sounds gross.

        1. My employer has a large campus in Broomfield. As it stands, 5 of the 7 buildings have been leased out.

  30. If the FBI didn’t do this the election would have gone on for weeks longer because the mules would have needed to bring in ballots until Biden had 101 million votes.

    FBI brass warned agents off Hunter Biden laptop due to 2020 election: whistleblowers

    By Emily Crane
    August 24, 2022

    FBI officials told agents not to investigate first son Hunter Biden’s infamous laptop for months — vowing that the bureau was “not going to change the outcome of the election again,” according to whistleblower claims made public Wednesday by Sen. Ron Johnson (R-Wis.)

    “These new allegations provide even more evidence of FBI corruption and renew calls for you to take immediate steps to investigate the FBI’s actions regarding the laptop,” Johnson wrote in a letter to Justice Department Inspector General Michael Horowitz.

    According to the senator, “individuals with knowledge” had told his office that “local FBI leadership” had slow-walked the laptop investigation after the computer was recovered from a Wilmington, Del. repair shop in December 2019.

    Johnson quoted FBI management as telling employees “You will not look at that Hunter Biden laptop” and promising the bureau would not alter the 2020 election outcome — a reference to the FBI reopening the investigation into Hillary Clinton’s private email server days before the 2016 election.

    “Further, these whistleblowers allege that the FBI did not begin to examine the contents of Hunter Biden’s laptop until after the 2020 presidential election,” the Republican added.

    https://nypost.com/2022/08/24/fbi-warned-agents-off-hunter-biden-laptop-due-to-election-whistleblowers/

  31. When did Americans become a bunch of eunuchs? Don’t answer that. I don’t want to know.

        1. In the fourth block of the 80 to 100 year cycle , a crisis usually comes in the form of a total breakdown and all out war.

          I would call this crisis cycle a war by the technocrats and money power elite money powers against the populations of the globe. A goal of enslavement of humanity and the elimination of the human species, and a Great Reset Utopia for a power group wanting to control all resources of the earth. A forced deprivation on humanity , and a reversal of all human progress and freedoms by forced technocratic ultimate control and the altering of humans against will.
          Maybe the greatest war being waged on humanity , in the history of the crisis cycles of the ” fourth turning”.

          1. and the elimination of the human species

            Makes you wonder if the plan is for the elites to genetically engineer their kids. Think Star Trek “Augments”. Then steadily drive conventional humanity to extinction.

        1. I strongly disagree with the “archetypes” portion of this video. Gates predicted a crisis like COVID because he was instrumental in creating it. Gates’ family are eugenicists. Musk is a conman with a Canadian technocrat maternal grandfather.

          1. This 6 tweet thread by a wildlife veterinarian of all people sums it up best:

            1/ Tesla is a fraud. This isn’t an abstract concept, it’s a statement of fact. At some point Elon Musk decided that Tesla’s purpose was to facilitate the rise of $TSLA to enrich himself.

            2/ Selling cars makes Tesla no more of a legitimate business than the trading arm of Madoff Investment Securities made them any less of a fraud. Just like Bernie Madoff, everything Elon Musk does is about enriching himself.

            3/ There isn’t any aspect of Tesla that isn’t a fraud. It’s a hollow illegitimate “business” that needs to perpetually bring in cash in any form possible. The longer it goes on the more desperate the attempts.

            4/ People often talk about equity financing to keep Tesla alive. He will, but only as a last resort. Diluting $TSLA for Tesla at this point is the equivalent of a self-imposed asshole tax.

            5/ Elon Musk doesn’t run Tesla as a business because it isn’t one. No R&D, clear cash problems, and he knows AP/FSD are in trouble. Because all decisions are to enrich himself he raised the price. Lowering them devalues his most profitable scam.

            6/ Tesla, SpaceX, Boring, Neuralink, and the rest of shady endeavors are linked financially. SolarCity exposed the interconnected nature of his fraudulent empire. It’s a publicly traded crime syndicate.

  33. CIO Of World’s Largest Hedge Fund Warns “You’re Not Going To Be Able To Avoid” Pain From Fed’s Actions

    https://www.zerohedge.com/markets/cio-worlds-largest-hedge-fund-warns-youre-not-going-be-able-avoid-pain-feds-actions

    (snip)

    The Fed faces a “tough dilemma”, warns Greg Jensen, co-CIO of Bridgewater Associates, noting that they are going to have to keep raising rates despite the fact that the economy is slowing.

    (snip)

    The CIO of the world’s largest hedge fund notes that market conditions “reflect inflation falling quite dramatically towards The Fed’s target over the next 18-24 months, [as well as expectations that this decline] will occur in a relatively stable economy.”

    As an example of this delusion, Jensen notes “stock market earnings expectations over the next decade haven’t come down at all this year, despite the decline in the equity market… it’s not at all a function of the view on earnings.”

    What this means is that in the longer-term, there will be a drying up of liquidity under Quantitative Tightening, and

    “The reality that starts to set in will be that inflation is more stubborn, The Fed tightens longer, that the expected easing in the next 6-9 months doesn’t materialize, and at the same time profits and economic growth are weaker than people expect is going to make this a tough road for all assets.”

    When asked what needs to be done, Jensen noted that “continuing to raise rates and quantitatively tighten will work, but unfortunately this will drive down inflation and the economy together, with inflation being more stubborn.”

    This means that we will get “higher interest rates across the curve and asset values declining generally.”

    In fact, “in aggregate, the asset markets will decline from 20% to 25%,” he said in the interview with Bloomberg Television.

    Worse still for stocks, Jensen added that “we are still something like 25-30% above the normal relationship between cash-flows and asset prices which means there’s a significant decline to come to align the real economy with the financial economy.”

    The bottom line from all this, he notes is, that “you are not going to be able to totally avoid this.”

  34. Obviously, Toto is not in Kansas anymore. Certainly, sellers are bummed out the most now that the days of multiple-multiple, way-over-asking offers, and single-digit days on market have simmered down.

    Er, should I cancel the “Offer Night” pizza party?

  35. ‘Analysts from Bank of America cutting their rating on shares of three homebuilders in a note out Thursday as the housing market faces an economic slowdown.’

    ‘Rafe Jadrosich at Bank of America Global Research downgraded shares of Lennar (LEN) to Underperform from Neutral, and shares of KB Home (KBH) and Toll Brothers (TOL) to Neutral from Buy, as rising interest rates challenge affordability for buyers.’

    “New home demand has reset lower over the last three months following two years of unprecedented growth,” Jadrosich wrote. “Homebuilder earnings and industry data indicate a sharp demand deceleration in June/July as a result of worsening affordability and lower consumer confidence.”

    ‘Earlier this week, Toll Brothers reported quarterly results that revealed lower delivery expectations and increased incentives amid what CEO Douglas Yearley called a “more of a buyer’s market.”

    “Public builders have remained disciplined with incentives so far,” Jadrosich added, “but we see risk that incentives (especially from private builders) will increase going forward given the weak absorption pace and a significant amount of new unsold inventory scheduled to be completed later this year.”

    ‘Nationally, more than 15% of home sellers slashed their listing price in July across 97 metros analyzed by Redfin, with Boise, Denver and Salt Lake City seeing the greatest price cuts. In Boise, for instance, some 70% of listings lowered their asking price last month. Shares of all three stocks are down more than 27% this year.’

    https://finance.yahoo.com/news/housing-market-bank-of-america-downgrade-173236691.html

    1. “Where are the workers?”

      Those roofs are stocked with roof tile and the drywall is stocked so the no material excuse doesn’t fit so unless it’s a Sunday or a Holiday it would appear somebody pulled the plug on that project.

  37. From Dollar Twenty-Five To Dollar-Fiddy Tree? Discount Retailers Tumble As Recession Hits Consumer Spending | ZeroHedge
    https://www.zerohedge.com/markets/dollar-twenty-five-dollar-fiddy-tree-discount-retailers-tumble-recession-hits-consumer

    (snip)

    While the Biden administration is busy pretending there is no recession, both the lower and middle classes are seeing their spending shrink at an alarming, and yes recessionary, pace (according to “best-looking department store” around, Nordstrom, which just reported catastrophic earnings, the upper class may about to join them too). And after some dire results from Walmart, Target and so on, today it was the dollar stores’ turn to crash and burn, because as Bloomberg notes, “lower-income shoppers are increasingly pressured. This strain is even hitting dollar stores, which cater to less-affluent segments of the economy.”

    To wit, Dollar Tree – which one year ago succumbed to the inflationary wave and was forced to hike its prices from $1.00 to $1.25 – tumbled after unexpectedly cutting its full-year profit outlook. The company said a “heightened focus on needs-based consumable products” was pressuring gross margins, with a shift from higher-margin discretionary merchandise to lower-margin consumable goods. It also mentioned inflationary cost pressures and its continued spending on labor and wages. As a reminder, Walmart cut its profit outlook as US shoppers concentrate on buying less-profitable groceries.

    1. The hyperventilating and footstamping by commenters is over the top already… Here and everywhere else.

      Somebody paid too much for a rapidly depreciating asset, in this case a house….. a whole bunch of somebodys.

  39. The Other Shoe Drops: Blackstone Landlord Halts Home Purchases In 38 Cities As Market Crashes

    https://www.zerohedge.com/markets/other-shoe-drops-blackstone-landlord-halts-home-purchases-38-cities-market-crashes

    Now that’s gonna leave a mark! 😂

    “Home Partners of America, the single-family landlord owned by Blackstone, the largest residential and commercial landlord in the US, will stop buying homes in 38 US cities, becoming the latest institutional investor to back away from an overheated housing market.

  40. The Other Shoe Drops: Blackstone Landlord Halts Home Purchases In 38 Cities As Market Crashes

    https://www.zerohedge.com/markets/other-shoe-drops-blackstone-landlord-halts-home-purchases-38-cities-market-crashes

    (snip)

    Home Partners of America, the single-family landlord owned by Blackstone, the largest residential and commercial landlord in the US, will stop buying homes in 38 US cities, becoming the latest institutional investor to back away from an overheated housing market.

    The company, which was acquired by Blackstone in June 2021 for $6 billion, told customers that as of Sept. 1, it is pausing applications and property submissions in Boise, Idaho; Fresno, California; Memphis, Tennessee, and 25 other areas. The company will go on hiatus in 10 additional cities on Oct. 1 (incidentally, Boise, ID is the city which saw explosive price increases during the covid pandemic, and has since then seen an unprecedented plunge with Redfin reporting that a record 70% of home sellers had dropped their asking price in July).

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