If At First You Don’t Succeed, Slash, Slash The Price
A report from USA Today. “‘A lot of the places, the Zoom towns that rose really rapidly in prices are cooling very rapidly and there’s been a pretty swift change,’ says Redfin Economist Sheharyar Bokhari. ‘Price drops are increasing, and it’s all been driven by the mortgage rates going up. And the Zoom towns are leading the cool down.'”
“When Miriam Stocking listed her house for sale in March in the Boise-area, she was not inundated with multiple offers. Instead, she received one offer above the $725,000 asking price but the buyers soon backed out saying they’d decided they wanted an open-floor plan instead. By June she’d closed on a deal that was $25,000 below asking. ‘It’s a shift from the last years,’ says Shauna Pendleton, a real estate agent in Boise. ‘It was like, you put your house on the market and it’s 10 offers in 48 hours. A lot of sellers are almost resenting themselves that they did not sell sooner and missed the peak of the market.'”
“‘The home might have sold 60 days ago, but you can’t use the comp from 60 days ago because they were probably on the market 30 to 60 days prior to that,’ says Pendelton. ‘The pricing discussion is very, very brutal right now.'”
From KTVB on Idaho. “Today homebuyers are receiving loans with interest rates between 5 to 6%, said Boise Regional Realtor President Becky Enrico-Crum. A year ago, interest rates were closer to 3%. ‘It was like free money, everyone could buy a house,’ Enrico-Crum said. That led to a highly competitive market. It was normal for a home to receive offers from 11 different buyers, according to Enrico-Crum. To win the sale, buyers would volunteer to skip a home inspection or appraisal from a bank.”
“‘People were jokingly saying, ‘Can I put your kid through college? Then will you sell me your house?’ Enrico-Crum said. ‘Now the dust is starting to settle. Prices are starting to stabilize. I think it’s a good thing for buyers, because they have choice and don’t have to buy houses that are overvalued for the market. All of us are gonna have to mentally adjust to this is the new normal.'”
Bridge Michigan. “Broker Dan Elsea said the dip in showings among potential buyers — 40 percent of whom will list their homes on the market — portends an expected slowdown in the state’s long-heated housing market this fall as interest rates climb to around 6 percent, double what many people saw in 2021. ‘It’s a leading indicator,’ Elsea told Bridge Michigan of the drop in home showings. ‘When people stop looking at houses, that tells you something is going to happen. It’s hard for sellers to get to that come-down off that high we’ve had.'”
“Sales in rural communities are slowing. ‘My colleagues, I think, are talking about a little more grim situation, particularly in not such aggressive markets,’ Smith said. One example, Smith said, was a builder of a new home in the northeast Lower Peninsula who planned to list it soon for about $250,000 and worried about whether the time delay would eat into his profits as sales dropped in the region.”
The Post and Courier in South Carolina. “The home was on East North Street, which runs through a desirable and historic area just northeast of downtown Greenville, and in 24 hours it had over 20 showings and generated four offers from prospective buyers. In some instances, it seems, the home-buying frenzy that’s gripped the region for the past two years is still trying to hold on. Or, maybe not.”
“‘I would argue that had it been eight or 10 months ago, we probably would have had twice that many showings and 10 offers,’ said Robby Brady of Allen Tate Realtors, which listed the home. ‘So we are seeing a little slowdown. And if you get a little more rural or a little more unique, like a log cabin I have listed now, we’re up to three weeks whereas before even that would have sold in four to five days. So we are definitely normalizing.'”
“‘We’re telling people it’s a correction. You look at what Covid did to real estate, it went kind of crazy. People were buying homes off FaceTime without ever putting their foot on the hardwoods, and they were thrilled to death to get it with multiple offers within hours,’ said Jacob Mann, a top agent for Coldwell Banker Caine. ‘Some sellers are seeing some of those success stories and overshooting the price, and all of the sudden it’s on the market for two weeks. So it’s really now about product, location and price.'”
WFLA in Florida. “Earlier this year, houses were selling like hot cakes. ‘Five months ago, they had 15 offers in two hours,’ said Janice Lockridge Williams, a St. Pete Real Estate Consultant. Now, sellers are slashing prices as home sales decrease. ‘Prices are going down because of the fact that fewer people can afford to buy it.'”
Fox 26 in Texas. “Jeremy Paquette moved his family from Houston to Colorado over the summer while he waited to sell his westside home. ‘I figured, you know, somewhere in 35 to 40 days, there’d be a closing.’ Instead of the quick sale that he expected, the listing sat for weeks before finally getting an offer after trimming the asking price. ‘The looking was fast and furious. The offers: The first offer took a month to six weeks,’ he says. West Houston realtor Chris Hiller says a degree of sanity has returned to a frantic period of selling and buying. ‘I’d put the Fourth of July, almost as the day in my personal business, that the ship sailed,’ he says.”
The Greeley Tribune in Colorado. “‘Denver is now a neutral market. Prices are getting softer. We think it is headed to a buyer’s market,’ said Sean Black, CEO of Knock, a New York-based ‘Power Buyer’ that helps consumers make cash offers on homes. Nearly all of the 100 largest housing markets moved more in favor of buyers in July, with the biggest shifts coming in Boise, Idaho; Phoenix; Colorado Springs, and Austin, Texas, which has seen a 71% jump in home prices during the pandemic, according to Knock’s inaugural ‘Buyer-Seller Index.'”
“Three overheated and expensive California markets have now fully entered the buyer’s camp — San Diego, San Francisco and San Jose. By July 2023, about 15 of the 100 largest housing markets are projected to favor buyers. Of the top 10 metros most in favor of buyers come next summer, Colorado Springs is expected to rank third and Denver eighth, according to the index.”
“Steve Danyliw, a member of the DMAR Market Trends Committee, said the average sales to list price sellers received peaked at a very high 107% in April. By July it was 100.8%, evidence that competition was waning. ‘That concept of a lot of buyers paying over the asking price is over,’ Danyliw said. So too are the days where sellers refused to budge on requests from buyers. A separate survey of 449 sellers by Realtor.com found that nine in 10 sellers had accepted buyer-friendly terms and four in 10 accepted contract contingencies, a sign that buyers were gaining more power. No sellers had refused to make repairs requested by buyers.”
KFMB in California. “The real estate days are gone, where you once could offer $100,000 over the asking price, multiple offers, and two days on the market, according to real estate agents in San Diego. Meaning, homes with fantastic views are staying on the market 30 to 45 days which was typical pre pandemic. Panoramic views of San Diego Bay, Mt. Soledad, and the Pacific Ocean, yet a 2, plus bedroom, two bath, 2,500 square-foot smart home priced at $2.3 million in Bay Park has been sitting on the market since May.”
“‘The house is brand new, plumbing electrical kind of surprises me and the view,’ said Kim Alger, homeowner. ‘We are not really motivated. We love our home. We’re retired so it’s time to get out and travel and do things and see if we can sell it.'”
The Los Angeles Times in California. “If at first you don’t succeed, slash, slash the price. That’s Joel Silver’s strategy in Brentwood, where he just relisted his hot pink mega-mansion for $49 million — a 35% discount compared with his previous ask of $75 million.”
The New York Post. “The Manhattan townhouse where the French banker Olivier Sarkozy aimed to live in wedded bliss with Mary-Kate Olsen has sold after a year on the market — and more than a year after the couple finalized their divorce. Sarkozy parted ways with the gutted Turtle Bay property to the tune of $10.3 million. Sarkozy, via a limited liability company, bought the 38-foot-wide home for $13.5 million.”
From Global News. “Home prices are falling in many parts of Canada. ‘Before … it was a time when prices were skyrocketing, there were bidding wars and no conditions on offers,’ said Kelly Caldwell, a realtor based in Guelph, Ont. ‘People were just paying far, far too much for a property. So I think it’s much better in the sense that things have cooled off … at least in the one (market) I serve in, there’s a very strong buyer’s market.'”
INFOtel on Canada. “The heady days of March are far behind us in the real estate market. That’s when sale prices peaked following a fast and furious 2021 with ever increasing prices and shortages of supply. But such good times for sellers couldn’t last forever. ‘We knew our market was in trouble when we saw that the homes in parts of Springvalley and Rutland were priced the same as they were in Old Glenmore and the Mission,’ said Joe Ungaro, a real estate agent with Ungaro Albrecht Courtney and Associates/Royal LePage. ‘One of those sectors was out of alignment and sure enough, Rutland corrected faster. It normalized pretty quick.'”
“That kind of correction and the fact that the higher end of the market dropped off is one reason why the average price of single-family homes has been falling steadily in the Central Okanagan since the spring. But averages don’t tell the whole story of what’s happening in the local market. ‘What was really unusual through the pandemic was that we saw demand through the whole sector,’ Ungaro said. ‘We saw homes selling in all price categories at crazy rates. We’ve never seen that here before.'”
News.com.au in Australia. “A fed-up tiler has exposed every homebuyer’s nightmare, pointing out brand new but severely underdone city apartments. A video takes viewers on a tour of what he claims are ‘the worst units in Sydney.’ The problems don’t even start in the apartment with the video showing shoddy workmanship around the elevator and wonky doors in the hallway. The video shows a ‘finished’ bathroom with the shower left unsealed, and the tiles without grout. In a second bathroom, the tiler zooms in on the toilet buttons. The video shows a large, uneven gap between that and the tiles it is supposed to sit flush with.”
“‘Look at the workmanship – it’s just f**king garbage,’ he exclaimed. He then moved on to some rattly doors covered in uneven blotches of paint. ‘Everywhere you go, it’s like a kid done it,’ he said. ‘This is what you get these days in Sydney. They’re taking people’s money and building it s**t.'”
From Moneycontrol. “China’s biggest property developer Country Garden Holdings has reported a 96 percent drop in profits, blaming a ‘severe depression’ in the country’s realty sector in which ‘only the fittest can survive.’ The company’s problems have also seen its majority shareholder – Yang Huiyan, daughter of the founder – lose half her $24 billion fortune.”
From Politico. “‘House prices were elevated going into this monetary policy change, and this is a big interest rate shock we’re seeing,’ said Brian Coulton, chief economist at Fitch Ratings. ‘We’re heading into a monetary-tightening-driven slowdown, and housing is going to be affected by that more than the economy overall.’ No one’s really sure how bad it will get, Coulton said, as the Fed also reduces the portfolio of assets it bought to boost the market, in a bid to tackle inflation.”
“The central bank had pumped nearly $3 trillion into the mortgage market with the purchases of mortgage-backed securities in a process known as ‘quantitative easing.’ It’s now allowing those securities to mature and fall off its balance sheet, and it has left the door open to selling them as a way to shrink its portfolio more quickly. ‘Nobody knows how much real estate prices — not just in the U.S., but globally — were increased by quantitative easing,’ Coulton said. ‘But I think there’s a pretty strong consensus that QE did boost asset prices, and real estate prices in particular, and now we’re going into the opposite of that, and nobody has a particularly good model of what that will look like.'”
‘Nobody knows how much real estate prices — not just in the U.S., but globally — were increased by quantitative easing’
I’ve mentioned this before. So if this turns into a global depression, which can’t be ruled out, the first question for the central bankers will be, who gave you the authority to put us at such a risk?
Woodrow Wilson gave them the illegal authority and now this cabal is the authority and needs no approval and has no oversight.
‘Sales in rural communities are slowing. ‘My colleagues, I think, are talking about a little more grim situation, particularly in not such aggressive markets’
‘We knew our market was in trouble when we saw that the homes in parts of Springvalley and Rutland were priced the same as they were in Old Glenmore and the Mission’
This issue is what’s going to matter soon: these little sh$tholes where prices shot up to igloo cluster levels, only to immediately sink like a turd in a well. How many of them are there? Thousands? Millions?
Houses in the Columbia Basin have been bid up to over $400k for new construction 4/3 spec. Wages here can’t possibly support a mortgage that high, so it’s likely retired equity locusts moving in, and the locals will mow their lawns, wash their cars, etc.
…. and pick over the bones when they go bankrupt.
I’m under the impression that they cashed-out big from a coastal community, came to town paying CASH and bank the balance. Their problem will be quality of health care, which is lacking in our area.
I’m under the impression that they cashed-out big from a coastal community, came to town paying CASH and bank the balance. Their problem will be quality of health care, which is lacking in our area.
As we’ve seen over and over again recently…. the cash was borrowed or otherwise encumbered.
RMS – are you in the TriCities area? If so, you couldn’t be more correct about the state of health care. Kadlec seems to be the place you go to die of routine illness.
As far as houses there being over 400k, there really isn’t anything in the Columbia Basin or in Eastern Washington overall to support real estate at that price or higher. Outside of the site (Hanford), there really isn’t an employer that pays. Darigold? Naw. Amazon? Hardly. Lamb Weston? Ha!
I have a certain amount of affection for that area, but that was back when cost of living was reasonable. The tri avoided the bubble of 2000-2008, but that area is in for a world of hurt in the near future.
Moses Lake area.
Coastal equity locusts will soon learn there is a lack of their typical social outlets in these smaller towns. Once they can’t be seen at “”he Club” and have their egos stroked, Chad will tell Buffy they must leave this backward town and move back to “The City”.
There are no vibrants at large running around here, and these older transplants appreciate that. Vehicle prowls are taken seriously around my area. Graffiti taggers get locked-up around here.
House prices should be $50,000 in most of those places.
Tampa, FL Housing Prices Crater 27% YOY As Mushroom Cloud Of Fear, Doubt And Falling Prices Balloons Over US Housing Market
As a noted economist stated so eloquently, “If you have to borrow for 15 or 30 years, you can’t afford it nor is it affordable.”
‘A lot of sellers are almost resenting themselves that they did not sell sooner and missed the peak of the market…The pricing discussion is very, very brutal right now’
Good thing everybody put 20% down.
‘Bank of America Corp. started a trial program aimed at helping first-time homebuyers in Black and Hispanic neighborhoods by offering mortgages that don’t require down payments, closing costs or minimum credit scores, all considered longtime obstacles to narrowing the gap between White and minority ownership.’
‘Customers using the program will be evaluated for a home loan not by credit scores, but rather factors such as their history of making rent, utility, phone and auto-insurance payments on time, BofA said in a statement Tuesday. The program will be tried out in certain predominately Black and Hispanic areas of Dallas, Detroit, Los Angeles, Miami and Charlotte, North Carolina. BofA wouldn’t disclose the planned size of the program, which may be expanded later to other cities.’
‘The Charlotte-based bank is going beyond credit scores so “people can use other mechanisms to define their creditworthiness, buy a home and build their wealth,” AJ Barkley, head of neighborhood and community lending at BofA, said in an interview.’
“Lower-down-payment loans perform worse, all things being equal — but all things are not equal,” said Laurie Goodman, an institute fellow at the nonprofit Urban Institute, speaking generally about such programs and not BofA’s in particular. “There is a way to offer these loans where it isn’t as risky, where other factors can more than compensate for a low down payment,” and there is an argument, she added, for taking on “a slightly higher probability of default in order to give people the opportunity to build wealth.”
Hey Laurie: CLICK!
“Good thing everybody put 20% down.”
So twentieth century.
‘Bank of America Corp. started a trial program aimed at helping first-time homebuyers in Black and Hispanic neighborhoods by offering mortgages that don’t require down payments,
This program is most likely being done to earn CRA credits on the BOA scorecard. They need to meet Government requirements for a Satisfactory CRA rating. At a TBTF bank, and a smaller regional bank I used to work at we had similar programs, although I do not recall them being zero down.
“…offering mortgages that don’t require down payments.”
Brokers are strip-mining the country’s wealth for a commission.
history of making rent, utility, phone and auto-insurance payments on time
I see no mention of history of income. And why would they look at auto insurance payments and not the auto payments themselves?
“That led to a highly competitive market. It was normal for a home to receive offers from 11 different buyers, according to Enrico-Crum.”
Woman…. if you think that’s normal you’ve got rocks in your head…. and PS…. change that last name…..
Colorado Springs, CO Housing Prices Crater 21% YOY As Excess, Emtpy And Defaulted Housing Inventory Blanket Denver Area
‘Joe Biden to a child in the crowd: “How are you baby? How old are you?”
No further information has been made available about her cause of death.
For every celeb who dies of the jab, how many more little people are quietly succumbing?
Personally, I don’t give a damn how many mental government slaves voluntarily took the jab. If they think the government is here to help they ARE the problem.
If, however, they invested many years and many thousands to become highly educated and specialized and were threatened, then I care.
KDVR — COVID vaccinations at all-time low in Colorado (8/31/2022):
“Officials are anxious about a fall COVID wave, but Coloradans seem to be tapped out.”
Tapped out? Sad trombone noises.
“The White House is releasing a vaccination campaign in September with a new vaccine geared specifically for the omicron strain.”
There has been no testing of this latest batch of gene altering mRNA testing on humans. None.
“Vaccinations reached a peak shortly after they were released at the end of 2020. There were over 65,000 daily vaccinations given to Coloradans in April 2021. The second wave of vaccinations came at the end of last year, though at the most there were half as many.
Beginning in early April, the number of daily vaccinations has steadily shrunk from about 10,000 daily vaccinations. Currently, there are an average of 2,300 daily vaccinations.
This is the lowest ever level of vaccination since vaccines were first distributed in mid-December 2020.”
The article continues and touts the alleged efficacy of this deadly poison, with zero mention of side effects including maiming, permanent disability, and death.
Currently, there are an average of 2,300 daily vaccinations.
Still 2300 too many.
2,300 per day? LOL. SO MANY IDIOTS. GOOD RIDDANCE.
I think the majority vote Dem. Now if we could just remove them from the dead rolls so they can no longer vote.
I’m sorry, but I don’t consider these dangerous experimental injections to be “vaccinations”. More like vexxinations, or clot shots, or in memory of the wonderful Zev Zelenko, “Poison Death Shot”. Meriam-Webster, CDC, and WHO can perform all the clandestine editing of online sources they like. A true vaccine will provide immunizing protection from acquiring a disease. Bonus points for not killing the injectee.
The British Government is starting to pay off death and injury claims on the vaccine.
$141,000.00 tax free ( in US dollars). You have to be 60% injured —whatever that means.-
A person severely injured, not able to work again, needs a lot more than $141 thousand. What if your only injured 40%, does that mean you get cut out?
With Big Pharmacy having immunity to liability on vaccines, and Governments giving cheap ass settlements like this, would people of taken the jab .
The immunity to Big Pharmacy gave rise to this increase in vaccine development with all these mandated vaccines for children to go to school. Now a vaccine for everything.
Vaccines mandated or you lose your job for God sakes.
So, the net result of this immunity given by Government to Big Pharmacy ,way back in 1987, is scientific corruption and poison products, with liability being transferred to the tax coffers.
So, many other areas where loss is transferred to Government , where big industry gets the profits, government gets the loss, like student loans and mortgages.
Government bailing out the fraudulent banks in 2009 in the trillions.
Its a disgusting looting system , and with this Covid vaccine the damage caused is epic.
Billions of dollars charged to taxpayers and transferred to stakeholders like Bill Gates that injected a expierment not fit for human consumption.
And the evidence shows they planned the Pandemic, created the Covid disease to be cured by mass vaccination, that were fake vaccines.
You have to be 60% injured —whatever that means.-
Probably means fully incapacitated (100% meaning you died).
Given the number that are injured they will try to minimize actual payouts. I wonder what the British equivalent of SSDI pays out?
Their maximum social security equivalent payout (government pension) is £185 a week, not even $1000 USD a month. I’m sure their disability benefits are no better. Small wonder more than 25% of Brits are planning on not heating their homes at all this winter.
A reader sent these in:
Yup. I’m a realtor in SoCal. Have listings in San Diego & Riverside Counties right now and both are going on 40 Days on Market. Only got 1 offer for each. One backed out and the other was $45k below list price and the seller didn’t accept it.
Every housing market has now peaked; west coast prices fading fastest
My mum owns a small café in Leicester. Her electricity bill has just jumped from £10k ($12k) a year to £55k ($64k) a year. She is working out her options but more than likely she will be forced to close.
This data is lagging, however, and the more real-time reports show a peak in the US Housing market in June with a 6% decline thus far…
Congratulations to those who recently bought a house above asking price because home prices only go up 👇
“But while the bubble seems not to be a major concern, there is a growing game of chicken between buyers and sellers”
This could have been written last week
Will The Housing Bubble Burst in 2007? – TIME
And they don’t even run A/C. But the cost to heat their eateries in the winter is no prohibitive. If I had to pay what they do, it would cost me well almost $2000 a month to A/C my home.
Euros are in trouble.
“no prohibitive” -> “now prohibitive”
Colorado Sun — Work on monkeypox messaging forces Colorado officials to confront past mistakes of public health (8/30/2022):
“The messaging around monkeypox has been hotly debated nationally, as well — especially when it comes to whether public health officials should advise people to abstain from sex or reduce their number of partners.
A senior epidemiologist in New York City spoke out publicly against the city public health department’s messaging on monkeypox, arguing that it should be more direct in telling men who have sex with men to reduce their number of partners. He was later reassigned, a move he called retaliation.”
After the Mass Formation Psychosis created in 2020, why would anyone believe anything that public health “experts” say? The statistics on moneypox don’t lie, who gets it and how they get it. Just another lie from the “experts” who in 2020 told the sheeple that protesting for Fentanyl Floyd wasn’t a health risk but attending the Sturgis bike party or heaven forbid, a Trump campaign rally would kill everyone there and a hundred more in every community they returned to.
“When focused on communities specifically impacted, Mays said the messaging can be more direct and targeted. But when speaking to the community at large, he said it is best practice for the message to be inclusive.
“So framing it with an ‘all of us’ perspective is one of the recommended strategies to avoid stigmatization,” he said.
That explains why public health officials and LGBTQ advocates like Bridges have preferred the messaging on monkeypox to remain broad. While the virus is currently affecting the LGBTQ community disproportionately, that could change. And that makes the cost of focusing just on one community too risky, both in terms of public health and in terms of inclusion.”
“All of us” just like the “we’re all in this together” propaganda playing on the grocery store loudspeakers?
The Big Pharma / Medical Industrial Complex has zero credibility. It’s all lies.
They didn’t listen to Dr Koop about Aids and tried monogamy. Didn’t close the bath houses or cruising bars, so it exploded.
I read a fascinating report many years ago by a statistician who compiled the aids data and showed that it was statistically impossible for it to have spread the way it did. His conclusion was that the CDC spread it through various blood programs in S.F. and NYC. Knowing what we know now about the CDC, this doesn’t seem far fetched at all.
That’s sort of true there was no test for aids in the blood that’s how hemophiliacs and Magic Johnson got it
Ryan White was 13 when he was diagnosed with AIDS after a blood transfusion in December 1984. Living in Kokomo, Indiana, doctors gave him six months to live.
Magic Johnson didn’t get it from a blood transfusion.
Ain’t nature a bitch?!
Big Pharmacy/ Med system bought the ” narrative” from the fear mongering, to the censorship of valid dispute to the Covid Scam. The obstruction of cheap med safe treatments for Dr Fauci killer protocols in hospitals, destructive lockdowns and masks.
Big Corporations collusion with mandating shots, and transfer of wealth by destruction of small business and Cares Act transfer of funds to Big Business.
Now the Climate Change fraud as another weapon of mass destruction.
Your governments are in on this Globalists Corporate takeover.
They are going to try to scare school children into believing they are at a high risk of contracting Monkeypox.
IMHO, Biden seems to be trying to get Republicans to revolt in a non peaceful way. . All the name calling by Biden , all the policies that are a open attack on freedoms of US Citizens, with Joe Biden taking a wreaking ball to everything the US and Constitution stood for.
I have never seen greater conquences than the rigged election putting this treasonous crook pervert Biden in.
But , at this point violent rebellion seems to be what they want, so don’t give them what they want. They might do false flags , look what they did with the Jan 6th ordeal.
They are in a tank rolling and wont stop, so what to you suggest?
Some also think tossing rose petals at Hitler would have stopped him.
Screw them. I say give us what we want.
How do you expect to get our country back? Vote?
“How do you expect to get our Country back?”
That’s the hard part. They got control of the US Military by that traitor Commander in Chief Biden, who stole the White House.
Biden is so bad that he would use the full force of Military on US Citizens, or UN forces.
So, billions of people just have to at least start with peaceful non compliance . How can they implement their Great Reset if nobody complies, or shows up. These Entities have to be neutralized one by by.
More and More people World wide know about this Great Reset, scam pandemics, etc, Climate Change scam, puppet war etc.
I’m not saying that at some point violence won’t ensue.
I just think they are nuts to think that billions won’t say no to owning nothing, eating bugs , being hacked ,,in slavery taking mandated injections.
“‘Nobody knows how much real estate prices — not just in the U.S., but globally — were increased by quantitative easing,’ Coulton said. ‘But I think there’s a pretty strong consensus that QE did boost asset prices, and real estate prices in particular, and now we’re going into the opposite of that, and nobody has a particularly good model of what that will look like.’”
Sounds like a point I made here yesterday. Uncertainty about the effects of Quantitative Tightening on housing and other risk assets is off the charts.
It might be a good time to dump risk assets and HODL dollars.
The Financial Times
‘King dollar’ surges as Fed presses ahead with rate rises
US currency on cusp of third consecutive month of gains against peers
The dollar index has risen 14% since the start of the year
Nikou Asgari in London and Kate Duguid in New York yesterday
The dollar is on the cusp of its third straight month of gains after reaching a 20-year high against peers, in a stark reflection of diverging outlooks for interest rates and growth in the world’s largest economies.
The dollar index, a measure of the currency’s value against a basket of others, has risen 14 per cent since the start of the year. It has continued to climb on expectations that the Federal Reserve will not back down in raising US interest rates to tamp down inflation, as emphasised by its chair Jay Powell at the annual Jackson Hole symposium last week.
The US currency’s lead on others also reflects worries that soaring energy prices in Europe stoked by Russia’s war in Ukraine will drive inflation higher and push economies into recession.
We’ve been HODL-ing dollars for months now. Every time we get some discretionary income we stash it away in dollars.
Updated Wed, Aug 31 2022
5:44 PM EDT
Dow, S&P 500 fall for a fourth day, major averages end August with losses
Pro Picks: Watch all of Wednesday’s big stock calls on CNBC
Stocks fell for a fourth straight day on Wednesday, the last day of August, putting the summer market comeback in doubt as investors weighed the Federal Reserve’s inflation-fighting efforts.
The Dow Jones Industrial Average slid 280.44 points, or nearly 0.9%, to 31,510.43. The S&P 500 lost roughly 0.8% to end the day at 3,955.00, and the Nasdaq Composite fell about 0.6% to 11,816.20. The major averages were higher earlier in the day.
What began as a strong month for the three major averages ended on a weaker note. The Dow finished August down nearly 4.1%, while the S&P and Nasdaq posted monthly losses of 4.2% and 4.6%, respectively.
Eventually one of the serial bottom callers’ stopped clock predictions will prove correct.
Updated Thu, Sep 1 2022 12:25 AM EDT
Stock futures fall after Wall Street closed out August with losses
U.S. stock futures fell on Thursday morning after the major averages closed out August with losses and investors considered the Federal Reserve’s fight against inflation.
Dow Jones Industrial Average futures fell by 140 points, or 0.44%. S&P 500 and Nasdaq 100 futures declined 0.71% and 1.19%, respectively.
Those moves follow four straight days of losses in the major averages. On the final day of August, the Dow Jones Industrial Average slid nearly 0.9%. The S&P 500 lost about 0.8%, and the Nasdaq Composite fell roughly 0.6%.
The Dow closed the month down about 4.1%, while the S&P and Nasdaq recorded losses of 4.2% and 4.6%, respectively.
Investors are debating whether stocks will again challenge the June lows in September, a historically poor month for markets, after weighing recent hawkish comments from Fed officials who show no signs of easing up on interest rate hikes.
On Wednesday, Cleveland Federal Reserve President Loretta Mester said she expects interest rates to rise above 4% before the central bank can start pulling back. The current fed funds rate is 2.25%-2.50.
“If we retest the lows, I think it happens in September,” SoFi’s Liz Young said Wednesday on CNBC’s “Closing Bell: Overtime.”
Jeremy Grantham Warns ‘Super Bubble’ in Stocks Has Yet to Burst
GMO’s co-founder says overvalued equities, bonds and housing will collide with high rates and inflation to cause more pain.
By Claire Ballentine
August 31, 2022 at 12:10 PM PDT
Updated on August 31, 2022 at 2:40 PM PDT
Famed investor Jeremy Grantham said the “super bubble” he previously warned about has yet to pop, even after this year’s turbulence in the US stock market.
The co-founder of Boston asset manager GMO, known for calling market bubbles, said in a note Wednesday that the surge in US equities from mid-June to mid-August fits the pattern of bear market rallies common after an initial sharp decline — and before the economy truly begins to deteriorate. Grantham, 83, sees more trouble ahead because of a “dangerous mix” of overvalued stocks, bonds and housing, combined with a commodity shock and hawkishness from the Federal Reserve.
As a renown economist explained, “An environment of falling prices is crucial to keep our economy humming along.”
Culver, OR Housing Prices Crater 24% YOY As Subprime Mortgage Implosion Accelerates
Mass Formation Psychosis.
New York Post — Joe Rogan’s call to ‘vote Republican’ sparks demands to boycott Spotify (8/31/2022):
“The host of the popular “Joe Rogan Experience” told his guest, Green Bay Packers quarterback Aaron Rodgers, on Saturday that he and others should “vote Republican.”
The two men agreed that Democratic governors and state legislatures imposed mitigation measures and lockdowns that were deemed by some to be heavy-handed, such as closures of businesses, restaurants, and schools.
Rogan and Rodgers also mentioned California Gov. Gavin Newsom’s outing at a restaurant where he sat unmasked in close proximity to other diners while his state banned indoor dining.
“I hope there’s lessons learned in this because this is a new thing,” Rogan said.
“As far as compensation for all of those people that were forced to close their businesses and keep their doors shuttered and lost everything they had worked for decades to build — no, they’re just going to be angry.”
A group called “Occupy Democrats” tweeted in response that Rogan was “ignorantly urging Americans” to back the GOP “as a form of supposed payback for businesses closing down due to the pandemic — dangerous rhetoric as the GOP embraces full fascism.”
Seethe harder, snowflakes.
“Rogan, who signed an exclusive licensing deal with Spotify in 2020 for a reported $200 million, is no stranger to controversy.”
$200 million? Middle tier Blue Checkmarks are like gnats to Joe Rogan
“Critics have accused the stand-up comedian, who commands an audience of some 11 million listeners, of giving a wide platform to vaccine skeptics and others who have questioned coronavirus lockdown measures.”
LMFAO@ these unwashed, basement dwelling, /r/Antiwork sub-Reddit subscribing, Cheeto dust encrusted fingers, online army of absolute nobodies think they’re gonna take down Joe Rogan?
Here’s a suggestion for them, the best way to get back at him and Spotify? Get boosted. Get quadruple boosted. Lie about your name, go doctor hopping, get 20+ more injections of that mRNA poison.
Do that, and you will *OWN* Joe Rogan. Loosers.
How are stocks linked to the housing market doing these days?
Bed Bath & Beyond stock tanks after cutting staff, closing stores, and floating share sale
Myles Udland and Brian Sozzi
Wed, August 31, 2022 at 5:09 AM·3 min read
In this article:
Bed Bath & Beyond (BBBY) stock is getting smoked early Wednesday as investors get more clarity on the mess facing the struggling retailer.
On Wednesday morning, in an SEC filing and a press release ahead of an investor presentation, the company outlined plans to issue more stock, close 150 stores, and fire 20% of its staff as the retailer looks to stem the bleeding from a collapse in sales.
Shares of the retailer were down more than 24% in early trading as of 9:38 AM ET.
Bed Bath & Beyond Inc. (BBBY)
As of 9:59AM EDT.Market open.
In a release ahead of its investor presentation, Bed Bath & Beyond said it received commitments for $500 million in additional financing, bringing its current liquidity to roughly $1 billion as the company struggles for survival. The retailer also filed with the SEC to sell up to 12 million additional shares of common stock.
Bed Bath & Beyond outlined plans to cut costs by $250 million in its fiscal 2022 and will cut 20% of its corporate and supply chain staff as it leans out the operation.
The company also said it plans to close 150 underperforming stores and said it “continues to evaluate its portfolio and leases, in addition to staffing, to ensure alignment with customer demand and go-forward strategy.”
They supported the looters and that ilk so they have it coming.
Surging mortgage rates spur downgrade of homebuilder stocks by Bank of America as the US housing market slows
Aug 25, 2022, 12:33 PM
A worker makes repairs to a home under construction at the Lennar Bridgeway development in Newark, California. Justin Sullivan/Getty Images
– Bank of America on Thursday downgraded homebuilders Lennar, Toll Brothers and KB Home.
– New home demand has dropped over the last three months after two years of unprecedented growth.
– Affordability is down, with the average monthly mortgage payment up 50% in some markets.
“Affordability is down, with the average monthly mortgage payment up 50% in some markets.”
A better way to put it is the implied market value is down by 33% in some markets (1 – 1/1.5 = 33%). Incomes don’t magically rise 50% when interest rates increase to enable buyers to make higher mortgage payments. The only possible adjustment is for housing prices to decrease in line with household budget constraints.
“Incomes don’t magically rise 50% when interest rates increase to enable buyers to make higher mortgage payments. ”
So what is the income of BlackRock and other house investor outfits?
Since BlackRock is a publicly-traded company, you can find their financial statements online. I don’t care enough to pull them for you.
BlackRock and similar outfits profited by purchasing residential housing before the Fed’s Quantitative Easing measures targeted on housing drove prices to the Moon. They are in it for the financial gain, not based on needing a place to live, which is the fundamental driver of housing demand at the household level. They also are unconstrained by mortgage contracts.
With Quantitative Tightening underway, isn’t it in the best interest of BlackRock and other financially-motivated housing market participants to dump their HODLings, in order to avoid losing money on falling knife prices? 🔪
Last year’s income to BlackRock and other residential investors seems irrelevant, given the recent sharp downturn in the market.
Here’s a link.
But the impacts of the housing downturn underway likely won’t show up until future fillings.
Business U.S. & World Utah
Housing market recession? It’s here, homebuilders say
By Katie McKellar
Aug 16, 2022, 12:48pm PDT
A construction crew builds a single-family home in the Overland community in Eagle Mountain on Tuesday, July 19, 2022.
Kristin Murphy, Deseret NewsPurchase Photo
Homebuilder confidence has been taking a nosedive for eight straight months as the pandemic housing frenzy dies down yet supply chain issues continue, prompting some experts to warn the housing market correction is only beginning.
What’s happening: August marked the eighth consecutive month that homebuilder confidence fell as higher interest rates, high home prices and supply chain problems persist, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Monday.
“In another sign that a declining housing market has failed to bottom out, builder confidence in the market for newly built single-family homes fell six points in August to 49, marking the first time since May 2020 that the index fell below the key break-even measure of 50,” a National Association of Home Builders news release stated.
Business U.S. & World Utah
Why the housing market is in recession in terms of sales — but not prices
Salt Lake City among top 5 metros with largest declines in sales, over 200% boost to inventory
By Katie McKellar
Aug 20, 2022, 5:00pm PDT
Motorists drive though Daybreak in South Jordan on Wednesday, July 13, 2022. July was an even more sluggish month for the U.S. housing market as sales of previously owned homes slipped by 6% from June and a whopping 20.2% year over year.
Jeffrey D. Allred, Deseret NewsPurchase Photo
July was an even more sluggish month for the U.S. housing market as sales of previously owned homes slipped by 6% from June and a whopping 20.2% year over year.
Home prices are still high, though, with the median existing home sales price up 10.8% from a year earlier to $403,800 — though that’s down slightly from the previous month when it was $413,800, a record high.
Meanwhile, inventory continues to tick up as an increasing number of priced-out buyers drop out of the market and sellers grapple with the hangover left in wake of the pandemic housing market frenzy that has now simmered down.
All this is according to the National Association of Realtors’ latest monthly report issued this past week, which is the latest indicator that the U.S. housing market is in what a growing chorus of experts are deeming, indeed, a recession.
But be careful. The word “recession” applies to certain dynamics happening within today’s market — and doesn’t equate fully to the global recession we all know from the housing bubble burst in 2006.
Lawrence Yun, chief economist for the National Association of Realtors, explains:
“We’re witnessing a housing recession in terms of declining home sales and homebuilding. However, it’s not a recession in home prices. Inventory remains tight and prices continue to rise nationally with nearly 40% of homes still commanding the full list price,” Yun said in a prepared statement.
Utah U.S. & World Business
‘Further to fall’: Housing downturn will worsen in 2023, Goldman Sachs predicts
By Katie McKellar
Aug 31, 2022, 2:54pm PDT
Single-family homes under construction in the Wildflower community in Saratoga Springs are pictured on Tuesday, July 19, 2022. Tuesday, Goldman Sachs released a report predicting new home sales would drop by 22% this year, while existing home sales will fall by 17% during the same time period.
Kristin Murphy, Deseret NewsPurchase Photo
Researchers at the investment banking giant Goldman Sachs predict the U.S. housing market will close out 2022 on a low note, with dramatic drops in home sales and price growth.
But it won’t stop there. Next year will be worse.
Housing market predictions: In a research paper titled “Housing Downturn: Further to Fall,” published Tuesday for clients, Goldman Sachs economists predict even further declines in 2023.
“We expect home price growth to stall completely, averaging 0% in 2023,” Goldman said, according to Bloomberg.
But they don’t predict a dramatic free fall.
“While outright declines in national home prices are possible and appear quite likely for some regions, large declines seem unlikely.”
Do you remember the experts predicting the sizeable housing price declines the US experienced in the 2006-2012 period?
The Washington Post pimps the poison.
Washington Post — Coronavirus boosters targeting omicron get FDA blessing for fall push (8/31/2022):
“New omicron-targeting coronavirus booster shots are poised for rollout after being authorized Wednesday by the Food and Drug Administration — a move designed to improve protection against severe illness and death during a potential rise in covid-19 cases this fall and winter.”
Remember “I wish you a winter of severe illness and death” and who said that? Yeah, it was Pedo Joe.
“The emergency authorizations of the boosters — one by Moderna and the other by Pfizer and its German partner, BioNTech — mark the start of a high-stakes effort by the Biden administration to deploy a more muscular defense against a virus that has evolved drastically over the last 2½ years”
Emergency authorizations? Any legal liability for the manufacturers of this deadly mRNA poison?
“Some experts, including Paul A. Offit, one of the FDA’s most prominent vaccine advisers, have criticized the agency for moving too quickly, saying it is not clear the new booster is better than the current one and warning the agency’s heavy reliance on mouse studies could fuel skepticism.”
All the mice died. All of them.
“We already have a problem with booster acceptance,” Eric Topol, a professor of molecular medicine at Scripps Research, said. If that is exacerbated by the paucity of human data for the new shots, “I think that would be unfortunate.”
Paucity of human data? No problem.
Is Krispy Kreme still giving out a free donut with proof of vaxx?
“there could be a sharp rise in infections by Thanksgiving, as people flock indoors and immunity continues to wane. ”
There’s a lot about this statement that can be questioned/debunked, but I’m too worn out talking about this stupid pandemic to bother.
“there could be a sharp rise in infections by Thanksgiving, as people flock indoors and immunity continues to wane. ”
I got it right now it sucks like a bad flu. day 3
Are you vaxxed?
I’ve had hangovers that were worse than COVID.
Those mRNA injections, putting that in your body is playing Russian Roulette with 5 rounds in the chamber.
I got the two shots right at the beginning of the panic no boosters.
More people in my close circle of contacts have had it recently than at any previous point in the pandemic.
I’ve never been vaxxed and I have been living my life as I always have since the woohoo first arrived. I have never had it despite all of the warnings of my imminent demise.
Liberals Use Communist Tactics – Projection Is Their Favorite Strategy
Liberalism is a mental disorder.
That’s an old clip!
Saul Alinsky’s Rules For Radicals advocates always accuse your opposition of what you yourself are doing.
The Guardian — Maybe US mainstream media should begin using the term ‘fascism’ by Robert Reich (8/31/2022):
“I’ve been watching the Florida governor, Ron DeSantis, for some time. Last Tuesday I tweeted: “Just wondering if ‘DeSantis’ is now officially a synonym for ‘fascist’.”
I was surprised at the outrage my little tweet provoked in rightwing media.
The Washington Examiner, for example, called me an “ultra-leftwing elitist” who wrote an “insulting slur”, which is “what leftwing ideologues do when they discuss Republican politicians who pose any threat to the existence of their political ideology … Anyone the Democrats don’t like or disagree with is a fascist.”
That last sentence is 100% correct.
“DeSantis also spews culture-war rhetoric. “We are not going to surrender to woke,” he said last Tuesday. “Florida is the state where woke goes to die.”
I love it. I want more of it.
“He calls the state of Florida a “citadel of freedom” and says his job as governor is to fight critical race theory, “Faucian dystopia”, uncontrolled immigration, big tech, “leftwing oligarchs”, “Soros-funded prosecutors”, transgender athletes and the “corporate media”.
Sounds about right.
“He charges – using a standard racist dog whistle – that “we’re not letting Florida cities burn down … In Florida, you’re not going to get a slap on the wrist. You are getting the inside of a jail cell.”
Not allowing Pantifa and Burn Loot Murder to destroy Florida? Real America isn’t the Guardian newsroom or the faculty lounge, Robert Reich.
“They’re not sending their best”
Using their language of mental constructs us a loser every time.
We are NOT a nation of immigrants.
I repeat, we are NOT a nation of immigrants.
We are a nation of CITIZENS who, through representation, have permitted lawful immigration.
Brandon was out screaming YOU KIDS GET OFF MY LAWN!! at MAGA republicans yesterday but he is evidentially cool with his no bail lawless D run cities and their Soros sponsored District Attorneys as shown in the link below.
August 30, 2022, 7:27 PM
“Let me say this to my MAGA Republican friends in Congress: Don’t tell me you support law enforcement if you won’t condemn what happened on Jan. 6,” he continued. “For God’s sake, whose side are you on?”
These animals got into a fight and ended up killing an innocent disabled man. Some people have no regard for human life.
7:54 AM · Aug 28, 2022
Had a zoom meeting with Czech colleagues. Regarding the energy crisis, they are all whistling past the graveyard, insisting that everything will be fine. When I asked if Czechia would make a deal with Russia like the Hungarians have, they frowned and said that the Hungarians have already forgotten 1956. Maybe they have, maybe they haven’t, but the Magyars won’t be freezing this winter.
Meghan Markle is ‘running out of people to annoy’
Sky News Australia
Aug 31, 2022 The Spectator’s James McPherson says Meghan Markle is “running out of people to annoy” after being criticised by Nelson Mandela’s grandson.
It comes after Ms Markle claimed people in South Africa rejoiced in the streets for her marriage to Prince Harry as they had done when Mr Mandela was released from prison.
“Meghan’s fallen out with her father, with her brother, sister, with her mother, with all the in-laws, she’s fallen out with all of Great Britain and now she’s now even fallen out with Nelson Mandela’s grandson,” he said.
“She’s literally running out of people to annoy.”
She’s going to have to resort to doing nudie flicks to pay the bills.
Why would blacks rejoice at a black marrying into a white culture?
Propaganda and lies.
Huffington Post — The Risk Factors For A Blood Clot Are More Common Than You Think (8/31/2022):
“Blood clots that strike inside the body, however, can sometimes block a vein or an artery and have serious consequences. A clot that blocks a vein deep in the body is what’s known as deep vein thrombosis (DVT). DVTs can form in any deep vein but it typically develops in the lower leg, thigh, pelvis or arm.
It’s estimated that as many as 900,000 people across America can develop a DVT each year, according to the Centers for Disease Control and Prevention. And it’s not only a disease of the elderly or extremely ill.
“DVTs can occur in younger patients without obvious medical issues,” Dr. Vincent Varghese, a board-certified interventional cardiologist at Deborah Heart and Lung Center in New Jersey, told HuffPost. “Awareness and education are critical in early recognition of DVT.”
Occur in younger patients, Dr. Varghese?
In younger patients who were injected with mRNA poison, which this globalist scum media article does not mention once.
They’re dying from the “vaccines” Dr. Varghese.
Occur in younger patients, Dr. Varghese?
As the bodies pile up higher and higher, the gaslighting will intensify, and they will need a bigger memory hole.
But people are catching on. One relative, who in the past was first in line to get jabbed has told me that he won’t get getting any more. He said he thought it wasn’t necessary now. He is aware of the surge in sudden deaths, so that might be a factor too, though he didn’t mention that.
If the fake news and medical authority is going to hide the truthful damage/death caused by vaccines, than we have morphed into a fraudulent medical system .
The truth is the med system has been hiding injury from vaccines for decades now. The dramatic increase in autism is off the charts. Pharmaceuticals rising to the third and fourth cause of death in US in recent decades, and nobody raises a eyebrow over those admitted stats.
Big Pharmacy being able to shut down the globe by the Covid scam with the fake vaccines being pushed on the public.
They really think they can divert and hide this epic death and injury by fake news and a captured med system colluding in this cover up because they are afraid of losing their jobs.
Whistleblowers in med system getting fired in droves.
Ron Johnson , the Senator, making a tape directly appealing to Drs and nurses to come out in numbers against this epic harm and cover up.
More propaganda and lies.
Salon — Farewell Dr. Fauci: How the right turned a national hero into a villain in service of Donald Trump (8/31/2022):
“Leading Republicans predictably responded by promising to “hold him accountable” for the pandemic. They threatened to send him to prison for “his Frankenstein experiments. ” The ensuing character assassination against this long-time government scientist is something to behold and it’s worth taking a look at how it happened.
Of course, the professional character assassins aren’t the elected GOP officials, it’s the right-wing media. It’s being led by Fox News personality Tucker Carlson, who is certifiable on this subject. Last week, when Fauci announced his retirement Carlson went into an extended fantasy segment saying that Fauci had “apparently engineered the single most devastating event in modern American history,” and declaring:
“He might want to get out of town now and move to, say, Cambridge, find a safe place to hide before the reckoning. Just a thought because honestly, there’s a lot to answer for. In just the last 2 years, Fauci’s recommended treatments and preventative measures for COVID that not only didn’t work, but that he knew didn’t work. He admitted to The New York Times that he lied about herd immunity in order to sell more vaccines, which also didn’t work, which weren’t even actually vaccines, but they did hurt a lot of people, tens of thousands.”
Tucker Carlson under-counted by a few million
“More importantly, this assault on the reputation of one of the nation’s top medical experts represents yet another battle in the culture war, and perhaps the most important one of all: the right’s war on science. From its refusal to admit climate change is real to a rejection of vaccines and beyond, the right’s attack on science is the most dangerous of all of its cynical power plays. Sadly, Fauci is just collateral damage — and so are the rest of us.”
Real Journalists defending the perpetrator of a medical genocide?
Remember, in the Nuremberg Trials of 1946, Julius Streicher was convicted for promoting propaganda, even though he himself did not participate in the mass killing of the Nazi regime.
Maybe it’s time to take a page from history on that one, Real Journalists.
Speaking of propaganda, Chris Martensen just put out a video on this subject.
The Fight For Your Mind: Information Battlefield Tactics of the Nudge Units Exposed
He documents the efforts by professionals to message vaccine compliance in 2020, even before the experimental gene therapy drug was released.
Please note the use of the Archive website for sharing links to globalist scum media.
This way, we can read their content, for free, and not generate any ad revenue for them.
The Atlantic — Fear of Fascism (8/30/2022):
“I’ve long resisted using the word fascism to describe Donald Trump and his Republican followers, but we have to overcome our reluctance to use strong language and admit that America is now beset by a dangerous antidemocratic movement masquerading as a party.”
The 2020 election was stolen, Tom Nichols.
“We cannot, however, let our understandable fear of words such as fascism scare us out of talking about the reality staring us in the face. The GOP itself might not meet the full definition of a “fascist” party—not yet, anyway—but it’s not a normal party, and its base is not an ordinary political movement.
Glaring drivers jacked up on Fox News and talk radio flying “F*ck Joe Biden” flags on their cars aren’t fascists; they’re the raw material of fascism”
FJB, Tom Nichols.
“For those of us who remember the Cold War, it is a special humiliation to think that we defeated the Soviet Union only to find Americans in Budapest cheering on the likes of Viktor Orbán.”
Hungary for the Hungarians, Tom Nichols.
Some of us read books, Tom Nichols. Books about socialism and communism in the 20th century, and how many millions of people were murdered by their own governments.
You won’t read about any of that attending public schools (paid for by your property taxes).
Marxism is an existential threat to the United States.
And it must be stopped.
“And it must be stopped.”
While people were busy making a living, they were unaware on how many institutions and Gov. agencies were slowly being infiltrated by our current enemy.
They had to infiltrate and corrupt……
The medical system
School system/ higher education
Gov agencies like FDA, CIA, FBI, IRS , welfare system CDC, Environmental Agencies Hud, etc etc
The UN and WHO
The economic systems
Transfer to Globalists manufacturing monopolies… Like China
Capture of Congress/ Senate/ White House and Judicial
Capture of miltary and administrative state. etc etc.
No wonder it took them over 100 years to get to the point they are at.
I think they use any ideology to take over, communism, fascism, environmentalism, social engineering , brainwashing , bribery extortion , blackmail , fraud , you name it.
The Ultra Rich people, Mega Corporation and covert Societies and foundations with a long term plan to rule the globe and do whatever they want to humanity.
Technocratic dictorship slavery like a 1984 style, but even worse.
So all that infiltration has to be undone .
How long before we hear the chorus of chirping from all the broke fat mortgage guinea pigs?
Raleigh, NC Housing Prices Crater 21% YOY As Debt Crippled Speculators Panic And Inventory Soars Across The Carolinas
COVER UP: Attorney General Garland Threatens DOJ Employees Not To Talk to Congress In Wake of Whistleblower Disclosures
by Jamie White
August 31 2022
“Attorney Garland Merrick Garland just sent out a message to everyone at the Justice Department, ordering no one may contact Congress,” said former Chief Counsel for Nominations to Senate Judiciary Chairman Chuck Grassley and attorney Mike Davis. “(My source: Congress.) Why didn’t he order a similar gag on the inappropriate and illegal Justice Department leaks to the media? Coverup.”
“Except as provided in this chapter, no Department employee may communicate with Senators, Representatives, congressional committees, or congressional staff without advance coordination, consultation, and approval by OLA.”
Garland then insisted that his effort to keep employees away from members of Congress “is not intended to conflict with or limit whistleblower protections.”
If Garland is so concerned about adhering to DOJ regulations, why has he not issued a similar memorandum to employees illegally leaking to the legacy media related to the Mar-a-Lago raid?
Here’s a great example of a sociopathic narcissist using Psychological Projection
‘This m–f–er is utterly shameless. After all the bad things that he and his criminal gang has done to Canadians, and now he and his gang are playing the victim all because a man had some harsh (but truthful) words to say to Canada’s second in command, Christina Freeland.’
‘What does Psychological Projection mean?’
‘In its malignant forms, it is a defense mechanism in which the ego defends itself against disowned and highly negative parts of the self by denying their existence in themselves and attributing them to others, breeding misunderstanding and causing untold interpersonal damage. A bully may project their own feelings of vulnerability onto the target, or a person who is confused may project feelings of confusion and inadequacy onto other people. Projection incorporates blame shifting and can manifest as shame dumping. Projection has been described as an early phase of introjection. ~ Wikipedia.’
1:50. Gets loud the last 10 seconds.
This is the video he was referring to:
Canadian MP Chrystia Freeland Meets The Public
2:17. F-bombs incoming.
The Dow…. it’s cratering.😂
Social media sites where falling housing prices are discussed results in some serious meltdowns. I’m talking about headgasket blowing, fist pounding, enragement that I’ve rarely seen on the internet, ever.
What social media sites are you reading?
MW, FB, YT…. all of them. You’ll find falling housing prices plastered on all of them.
Indeed. Even the r/RealEstate sub on Reddit has turned negative. Just two months ago any negative statement got down-voted.
The 10-year versus 2-year Treasury bond spread ended the month as it started, at -0.30, having reached a low of -0.43 on August 16. A negative 10-2 spread has been a predictor of recession since 1955.
Meanwhile, the 30-year versus 10-year spread was +0.32 on August 1, but down to +0.12 on August 31. If that rate continues, it will be negative by the end of September.
“In this present crisis, government is not the solution to our problem, government IS the problem. It isn’t so much that liberals are ignorant, it’s just that they know so much that isn’t so.” — Ronald Reagan
Don’t look now, but Bitcoin is testing that 20,000 support level again. 20K must be where all the algos are based.
The U.S. housing market downturn will be worse in 2023, forecasts Goldman Sachs
The U.S. enters its first housing downturn of the post–Great Financial Crisis era. The worst still awaits.
BY Lance Lambert
August 31, 2022 5:10 AM EDT
Bank of America announces zero down payment, zero closing cost mortgages for Black and Hispanic first-time homebuyers
“…zero down payment, zero closing cost…”
Renters need first, last and security deposit. It’s cheaper to buy!
This is just in my burg, high desert outside of Boise.
Lots of cuts and longer time on market. There is literally nothing here except a “mexican” restaurant. It was nice back in the day when it was uncrowded and quiet. Not so much now, much like the Front Range in CO or SoCal now.
This one is my favorite, cut from $560k, folks moved out about 3 weeks ago and the weeds are fence high in the front and back.
Not budging on the price.
One of the best speeches I’ve ever heard:
Here’s Italy’s Next PRIME MINISTER!!!
It is a reminder that many of the things our Liberals are sponsoring that we find abhorrent are not just American insanity. They are happening the same in other countries. Coordinated.
From the comments: “She can only be president if approved by the Zionist syndicate. If she’s not a Zionist whore like Tulsi or Liz then she might as well go back to her ironing board.”
The Who — The Good’s Gone:
The Animals — It’s My Life:
The Kinks — The World Keeps Going Round:
Rolling Stones — Little Miss Amanda Jones:
Cream — I Feel Free:
Traffic — Shouldn’t Have Took More Than You Gave:
Rolling Stones — Under My Thumb (Live At Altamont 1969):
My favorite Under My Thumb cover
Joe Piscopo does Frank Sinatra
🚨WANTED for ROBBERY: Do you know this guy? On 8/13/22 at approx. 9:10 PM, on a S40 Bus near Clinton Ave and Richmond Terrace on Staten Island, the suspect approached a 64-year-old male in a wheelchair and forcibly removed cash. Any info? DM @NYPDTips, or call 800-577-TIPS.
Dad shoots dead daughter’s ex-boyfriend who tried to ‘kill her’ during home break in
Aug 31, 2022
Shows the whole event.
We had a similar situation at a local trailer park community where the boyfriend brought a baseball bat, and dad responded with two 12-Ga rounds of buckshot. Game over! 🙂
Recently, Twitter was magnanimous and reinstated me out of the blue. I’ve been tweeting, though I vowed abstinence.
I saw three “old lady gets the crap beaten out of her videos” in a short time (one really wasn’t old, maybe middle aged.) WTH…
The soyboy in NYC filming instead of doing something (well, he did politely ask for the old lady’s phone) is disgusting.
Oh, the humanity!
The Financial Times
Big US mortgage lenders turn screws on smaller rivals as rates rise
United Wholesale and Rocket pursue aggressive strategies as others pull back or go out of business
A home that is listed as a pending sale in a neighborhood in Palatine, Illinois
The US housing market has been rocked by the steepest and fastest increase in interest rate in over 50 years
Imani Moise in New York August 29 2022
The two largest US mortgage lenders are turning up the heat on their smaller competitors, offering discounts and other incentives to win market share as rising interest rates have slowed homebuying activity.
The aggressive strategies pursued by Rocket Mortgage and United Wholesale Mortgage, the largest and second-largest US mortgage originators, respectively, come as many lenders are pulling back from the market or going out of business.
Rocket is promising homebuyers it will waive closing, appraisal and other refinancing fees if they obtain a new mortgage and interest rates drop within a three-year period starting from July.
UWM, which specialises in serving independent mortgage brokers, said in June it would lower interest rates on its loan products by 50 to 100 basis points to help brokers win more business.*
Rocket chief executive Jay Farner said this month he saw an opportunity to “lean in” as competitors retreat, and his counterpart at UWM struck a similar tone during its second-quarter earnings presentation.
“We are being very aggressive in this environment,” UWM chief executive Mat Ishbia said. “I’m not really focused on the margins . . . it’s an investment for the long term.”
The US housing market has been rocked by the steepest and fastest increase in interest rate in over 50 years. The average 30-year fixed rate mortgage jumped from 3.2 per cent at the beginning of the year to nearly 6 per cent in June and 5.55 per cent last week.
The rising rates combined with historically high house prices have pushed many borrowers out of the market. Average new mortgage applications dropped 1.2 per cent in the week ending August 19 and remained near a 22-year low, according to the most recent data from the Mortgage Bankers Association.
Compared with one year ago, refinancing applications declined 83 per cent and purchase applications dropped 21 per cent.
Up early, gotta mow before the bike ride. Opened the sliding glass door into the backyard…oh schitt, smoke! 🙁
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