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We’re Doing Sticker Shock In Reverse Now

A report from Politico. “Lobbyists are scrambling to get help from Washington to goose the housing market as demand tanks in response to rising interest rates and high prices. ‘Next year is going to be chaos,’ said National Housing Conference CEO David Dworkin, who believes tax legislation has a shot before 2023.”

From Bisnow. “Investors who drove record activity buying up rental properties in Sun Belt cities are facing a new threat to their revenues: increased property taxes. Single-family rental landlord American Homes 4 Rent said in its earnings report that it expects its property taxes at its Texas properties to climb by more than 20% this year. Matthew Haines, a north Texas landlord who has three apartment complexes and several single-family rental properties, said that his taxes have doubled during the last four years. Haines said he is selling a 60-unit building he owns.”

“‘We can’t make money with it anymore,’ Haines told Bloomberg. ‘Seven days a week, my wife and I are trying to keep our heads above water.'”

Colorado Public Radio. “Home prices in Colorado Springs continue to show signs that the market is cooling amidst persistent inflation and spiking mortgage interest rates. The median price of a single family home in the Springs to set all-time records month after month in the first half of the year, topping out at $495,000 in June. That price dropped back down to $460,000 in September before ticking up another $5,000 to $465,000 in October. ‘I think that we are going to see an exit of a certain number of realtors that might have gotten into the business at the uptick in the market after COVID,’ said Ann Kidd, chair of the Pikes Peak Association of Realtors. ‘When they realize it isn’t just putting the sign in the yard and collecting the contracts I think … some of them will be exiting and looking for work that is more [reliable] for their families.'”

From WXYZ in Michigan. “After one of the hottest housing markets in years, we’re now seeing a shift. Michael Perna, a realtor with Keller Williams, said it’s still a seller’s market, but sellers are starting to offer concessions again. ‘We’re seeing the luxury market come in below asking price for the majority of the sales. We’re seeing sellers — over 10% of sellers are picking up buyers’ closing costs now, and we’re seeing the market really normalize and even out,’ he said.”

The Daily Montanan. “The median price of a home in Bozeman is $932,317, but in 2021, household income was just $59,695, according to the Bozeman Real Estate Group and U.S. Census, respectively. A rough estimate based on yearly income of $60,000, given current interest rates, would mean that an average Montanan family would be able to afford a house around $275,000. In Missoula, the median price of a home is at $525,000, as it has been for roughly seven months, said Brint Wahlberg, vice president of the Missoula Organization of Realtors. By comparison, it was $350,000 in 2020.”

“The median residential price in Billings is $412,832, said Billings Association of Realtors President Dennis Cook, but the market appears to be softening. Some sellers are dropping their asking prices, but he said the downward trend doesn’t mean it’s easy for buyers given the interest rates. ‘It makes for a pretty hefty price still even at that,’ Cook said.”

The Marietta Daily Journal in Georgia. “Gone are the days when a house would have multiple offers within hours of being listed, some of them well over asking price. But caught between persistently low inventory and high prices, and now, rising mortgage rates, a lack of affordability remains the elephant in the room in Cobb’s housing market. ‘That price point (for first-time buyers) used to be in the 200s,’ said Hicks Malonson, a broker with Harry Norman Realtors in Marietta. ‘Not anymore. And my rate-sensitive buyers have said, ‘Yep, I get it. I am not paying that price at that rate.'”

“One change over last year is that the average sale price ($483,000) has dropped below the average list price ($489,000), suggesting the bidding wars of the pandemic market are past. Johnny Sinclair, a Realtor with Ansley Real Estate, said during his 18 years in the business, Marietta’s typically had around 150 available single-family homes within the city limits. ‘During the red-hot thing, it got down to as low as 23, which was unheard of. You’ve never had that,’ Sinclair said. ‘It has risen back up, but it’s staying steady around 70 … a lot of those houses are houses that have been on the market for a while. They’re kind of the leftovers.'”

WLBT in Mississippi. “The once chaotic buyer’s housing market has taken a turn due to sky-high mortgage rates. Along with establishing more money-conscious decisions, sellers aren’t seeing the extreme offers they saw before. ‘They are wanting a break, you know, they want to break in the price just because the rates are higher, and that note is going to be a little bit higher,’ Meshia Edwards, a Community First real estate agent said stated.”

The Herald Bulletin in Indiana. “When the time came to sell her mother’s condominium, Carole Edwards was cautiously optimistic that a buyer would surface quickly. She was also aware, however, that the local housing market — mirroring several nationwide trends — is becoming increasingly challenging for buyers and sellers alike. She pointed to nearby neighbors also trying to sell their condo as evidence. ‘They’re around the corner from my mom, and they’re sitting there (with) the interest rates going up, so it’s going to cost whomever a lot more,’ Edwards said.”

“‘Obviously we’re not in the market we were six months ago,’ said Heather Upton, owner of the Real Estate Pros of Keller Williams in Pendleton. ‘I told my team this week, I said, ‘Buyers, and even sellers, have their brakes on right now, because they’re trying to figure out how to navigate this market.’ We’re in a market we’ve never, ever, ever come close to experiencing.'”

“In Madison County, several metrics tracked by the MIBOR Realtor Association declined in September, the most recent month for which data is available. Notably, the median sales price of $173,000 was down 11.3% from August. Upton pointed to the situation of one client she worked with recently, who put a house in the Summerlake subdivision near Ingalls up for sale with an initial asking price of $330,000. Within 45 days, Upton said, they were forced to drop that price by $25,000.”

“‘It’s super, super important that when we go to meet with sellers that we coach them on exactly what their competition is and what the market is exactly right now,’ Upton said. ‘It’s like sticker shock (for buyers), but we’re doing sticker shock in reverse now.'”

The Union Tribune in California. “Here’s another sign San Diego’s homebuying market is slowing. Pending home sales — when the seller has accepted a buyer’s offer but the deal hasn’t closed — dropped 49.6 percent in October year-over-year in the San Diego metropolitan area, said a Redfin study released Friday. It was 33 percent nationwide. Of the 10 most populated cities in the United States, only Phoenix had a bigger pending sale drop, 54.3 percent, than San Diego. San Jose was down by 47.1 percent, Chicago was by 44.2 percent, Houston by 40 percent and Los Angeles by 38.8 percent. Nationwide pending sales have not fallen so far since at least 2015, Redfin said.”

“In September, San Diego County’s median home price fell for a fourth month to $795,000, said CoreLogic.”

From My PG Now. “Higher interest rates from the Bank of Canada are continuing to take a large bite out of the housing market in Prince George. According to the BC Northern Real Estate Board, over a three-month period, the average price dropped 53-grand going from $538,000 in August to 485-grand in October. Bob Quinlan with RE/MAX Core Realty told MyPGNow.com that the inflated price bubble that dominated our city for the past few years has finally burst.”

“‘We have to say that the interest rates that were so low created artificial high values. So, what people are doing if they are going on those values of what happened last year or even early this year with the new interest rates, means people can borrow less.'”

“Quinlan added with interest rates being hiked up by the Bank of Canada, anyone in a low-equity position will be the most impacted. ‘All of a sudden as interest rates start to go up and you’ve got a renewal in a couple of years you are going to start seeing people go into foreclosures. It’s hard to say whether or not this rate adjustment is going to be a soft landing or a hard landing. It all depends on the motivations of the buyers and sellers.'”

“In October, 53 single-family homes were sold in the northern capital – a year-over-year drop of nearly 50% after 98 residential units came off the market. Year-to-date, 743 single-detached homes have come off the market in PG – a decline of about 200 when compared to October 2021.”

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This Post Has 105 Comments

  1. ‘a north Texas landlord who has three apartment complexes and several single-family rental properties, said that his taxes have doubled during the last four years. Haines said he is selling a 60-unit building he owns…‘We can’t make money with it anymore…Seven days a week, my wife and I are trying to keep our heads above water’

    The cash out refi bonanza has to be paid back.

    1. It blows my mind how many people I run into that have bought into the buy property and leverage that property to buy more property model and rarely do they even know how to really pencil cash flow. The idea that you can’t lose on real estate happens in every bubble. But the financial stupidity still stuns me every time it happens.

        1. If the ending scene from “The Big Short” doesn’t make you red-pilled AF, you’re beyond hope.

          “They knew” – the banksters could be as reckless and greedy as they wanted to be in the run-up to Housing Bubble Bust 1.0, because they knew the Fed and middle class taxpayers had their backs. Nothing has changed.

          https://www.youtube.com/watch?v=Nmxox3oqRZo&t=21s

      2. “But the financial stupidity still stuns me every time it happens.”

        If you correctly position yourself you will not think of financial stupidity exhibited by these people as a defect but rather as an extremely profitable attribute.

        I like it, I love it, I want more of it.

      3. I doubt even the biggest bears on this site would have ever publicly claimed that rates would go this high this fast. Imagine all the gamblers who were sure they would have time to maneuver around any pesky rate issues that were highly unlikely to be an issue in the first place. Many of them probably don’t even realize how screwed they are yet. As prices continue to drop the pain is going to become a lot more evident. Ben will be posting epic sob stories in a year or two. Meanwhile FB’s will be speed dialing all of their mortgage contacts and getting ‘sorry this number has been disconnected or is no longer in service’ from most of them and the ones who answer will say they don’t have anything available. The tide is going out rapidly.

  2. ‘Along with establishing more money-conscious decisions, sellers aren’t seeing the extreme offers they saw before’

    This is Jackson MS.

    ‘One change over last year is that the average sale price ($483,000) has dropped below the average list price ($489,000), suggesting the bidding wars of the pandemic market are past. Johnny Sinclair, a Realtor with Ansley Real Estate, said during his 18 years in the business, Marietta’s typically had around 150 available single-family homes within the city limits. ‘During the red-hot thing, it got down to as low as 23, which was unheard of. You’ve never had that’

    ‘the red-hot thing’

  3. ‘Next year is going to be chaos,’ said National Housing Conference CEO David Dworkin, who believes tax legislation has a shot before 2023.”

    Bring it!

  4. ‘Pending home sales — when the seller has accepted a buyer’s offer but the deal hasn’t closed — dropped 49.6 percent in October year-over-year in the San Diego metropolitan area, said a Redfin study released Friday. It was 33 percent nationwide. Of the 10 most populated cities in the United States, only Phoenix had a bigger pending sale drop, 54.3 percent, than San Diego. San Jose was down by 47.1 percent, Chicago was by 44.2 percent, Houston by 40 percent and Los Angeles by 38.8 percent. Nationwide pending sales have not fallen so far since at least 2015’

    After watching so many videos the past few months, I’m thinking the two most important stats right now are list to sale price ratios and pending sales. When you look back the markets that rolled over one by one could best be seen in ht list price to sale ratio. As that dipped under 100% all hell brakes loses. These are two stats that are hard for the REIC to manipulate too.

    1. And pending sales are forward looking and that is as ugly as it can get.

      ‘Nationwide pending sales have not fallen so far since at least 2015, Redfin said’

      That’s about when redfin showed up, so worstess evah!

      1. I had problems navigating this development of homes when I was on crutches in 2017/2018. That’s how narrow the hallways were.

      2. “I’m surprised this one went pending after only 3 days…”

        It does look like a nice house and neighborhood.

  5. Single-family rental landlord American Homes 4 Rent said in its earnings report that it expects its property taxes at its Texas properties to climb by more than 20% this year.

    Democrat-Bolshevik patronage and graft networks are not self-funding, you know. Neither is growing out your parasite population to keep your city or state deep blue.

  6. ‘When they realize it isn’t just putting the sign in the yard and collecting the contracts I think … some of them will be exiting and looking for work that is more [reliable] for their families.’”

    PetSmart can always use more dog groomers.

  7. How much more are you paying for FOOD now versus in January 2021?

    MarketWatch — Food prices keep rising. Food-company execs are betting Americans will keep paying (11/4/2022):

    “Even as rampant inflation in food prices leaches away consumer spending power and disproportionately affects lower-income consumers, food-company executives and Wall Street analysts believe that Americans will continue to buy their favorite foods.

    Wall Street analysts agree that the companies largely still have the power to continue raising prices without seeing a huge drop-off in unit sales. Food, analysts note, is less discretionary than, say, a new television.”

    https://www.marketwatch.com/story/food-prices-keep-rising-food-company-execs-are-betting-americans-will-keep-paying-11667592685

    You will eat nothing.

    1. I’m rapidly ramping up our vegetable and fruit production. If we could have chickens, we’d have them already.

    2. Food-company execs are betting Americans will keep paying

      My impression is that grocery store margins are going up. The price of oil translates into the price of food. Blaming “food execs” is a diversion.

  8. “The median price of a home in Bozeman is $932,317, but in 2021, household income was just $59,695, according to the Bozeman Real Estate Group and U.S. Census, respectively.

    Seems sustainable….

  9. NBC Raises Eyebrows by Pulling Paul Pelosi Segment

    Mary Margaret Olohan
    November 04, 2022

    NBC News has sparked backlash by pulling a segment describing the attack on Paul Pelosi, claiming the segment did not meet NBC News reporting standards.

    The report said NBC had learned from sources that “when officers responded to the high priority call, they were seemingly unaware they had been called to the home of the speaker of the House.”

    “After a knock and announce, the front door was opened by Mr. Pelosi,” the NBC video report said. “The 82-year-old did not immediately declare an emergency or try to leave his home, but instead, began walking several feet back into the foyer, towards the assailant, and away from police.”

    “It’s unclear if the 82-year-old was already injured or what his mental state was, say sources,” the report continued. “According to court documents, when the officer asked what was going on, defendant smiled and said ‘Everything is good.’ But instantaneously a struggle ensued as police clearly saw David DePape strike Paul Pelosi in the head with a hammer.”

    NBC has since pulled this report.

    “The piece should not have aired because it did not meet NBC News reporting standards,” NBC said in an editor’s note.

    “We apologize, this video has expired,” the video says

    https://www.dailysignal.com/2022/11/04/nbc-raises-eyebrows-pulling-paul-pelosi-segment/

      2. “Bashing an 82-y/o man with a hammer is sick, sick, sick, regardless of the circumstances.”

        As is constantly lying to the American people for personal and political gain while it is covered up by a lapdog media as is the case here.

        No one I know including myself doesn’t think hitting an 82 year old man isn’t sick, but there are those including myself that think changing the story from an old man having a date gone wrong with an illegal nudist drug addict who lives in a school bus with BLM signs and LBGTQ flags outside to a MAGA Trump supporter which is repeated by the MSM right through who they claim to be the POTUS a week before midterms needs to be called out for what it is.

        Also keep in mind we are talking about an 82 year old man who 2 months ago while his wife was out of town caused an accident while driving when he was too drunk to stand (I saw the roadside test) causing damage to the car he hit and injuring the driver (no word on his mystery passenger that was covered up) and walked with a BS fine, some community service that he will never perform and a misdemeanor for something that you or I would rightfully be serving time for right now.

        JULY 21, 2022
        House Speaker Weekly Briefing

        “No, absolutely not,” said House Speaker Nancy Pelosi (D-CA) when asked during her weekly briefing if her husband, Paul Pelosi, has ever purchased stock based on information obtained from her. According to news reports, the speaker’s husband purchased stock in a computer-chip company ahead of a Senate vote on legislation that would boost semiconductor manufacturing in the United States.

        Nancy Pelosi’s husband has stirred scrutiny for years over his stock purchases

        July 27, 2022

        Paul, meanwhile, had purchased 4,000 shares of Alphabet, Google’s parent company, by exercising call options a week before the vote. The call options – which give investors the right to buy shares of a company at a specific price – allowed him to snag the shares of Alphabet at $1,200 a piece as they closed that day at just over $2,500, according to Fortune. Paul earned $5.3 million on the investment at the time.

        A few months before the Alphabet purchase, Paul picked up millions of dollars worth of Microsoft stock just days before the company announced a lucrative government contract.

        Paul exercised call options and paid $1.95 million to buy 15,000 shares of Microsoft at a strike price of $130 on March 19, Fox Business reported. That same day, Paul paid $1.4 million for 10,000 shares valued at $140.

        Microsoft announced a government contract worth nearly $22 billion to supply U.S. Army combat troops with augmented reality headsets just twelve days after Paul’s purchase, and the company’s share prices increased from about $230 to roughly $255 – or close to 11% – in the weeks following the announcement.

        Biden, who was open about moving toward electric vehicles, in late January 2021, “directed federal officials to devise a plan for converting all federal, state, local and tribal fleets, including 225,000 Postal Service vehicles, to “clean and zero-emission vehicles,” the Washington Post reported.

        Biden’s infrastructure plan later set aside more than $170 billion for electric vehicle subsidies.

        https://www.foxbusiness.com/politics/nancy-pelosis-husband-stirred-scrutiny-years-over-stock-purchases

  10. Pending home sales — when the seller has accepted a buyer’s offer but the deal hasn’t closed — dropped 49.6 percent in October year-over-year in the San Diego metropolitan area, said a Redfin study released Friday.

    Is that a lot?

  11. Cue up the world’s tiniest violin for these globalist sh*tbags.

    Washington Post — ‘Not a tweep anymore.’ Twitter layoffs likely to exact an emotional toll (11/4/2022):

    “The tweets were tinged with sadness, gratitude and pride as the hashtag #lovewhereyouworked was shared by hundreds of Twitter employees who had just gotten their pink slip.

    #TwitterLayoffs quickly became the top trending hashtag in the United States on Friday after the social media company launched mass layoffs late Thursday, cutting around half the company’s workforce of 7,500.

    Behind the headlines and speculation about the future of a Twitter controlled by new chief executive Elon Musk, there are many people who are experiencing the stress and sadness of losing their jobs, experts said.

    https://archive.ph/9rXtQ

    We need someone on our jobsite to clean up trash.

    Here’s a broom and a shovel, Blue Checkmark soyboi.

    1. On uncensored sites like Gab, it hasn’t gone unnoticed that when the globalists snap their fingers, advertisers fall into line. Twitter is toast unless Musk gets “complaint” in a hurry.

      https://gab.com

      2. Not os sure Elon needs to get compliant. There are plenty if patriot companies that can advertise. Ma y of these left wing companies have been boycotted and are now failing or struggling or have gone into bankruptcy. The money and the means are with the right not the left government welfare scumbag

  12. We don’t need trials – we need tribunals, followed by swift, summary justice severe and sweeping enough that we never again see this kind of tyranny and overreach rear its ugly head.

    COVID Amnesty? Hell, No!

    https://amgreatness.com/2022/11/04/covid-amnesty-hell-no/

    If any vestiges of our free republic are to remain, every last freak who perpetrated these crimes against society should be held accountable. Instead of amnesty, we need trials.

  13. Not another penny. AMERICA FIRST.

    “Rep. Marjorie Taylor Greene (R-Ga.) promised on Thursday that “not another penny will go to Ukraine” if Republicans retake control of Congress in Tuesday’s midterm elections.

    “The only border they care about is Ukraine, not America’s southern border,” Greene said of Democrats at a Trump rally in Sioux City, Iowa. “Under Republicans, not another penny will go to Ukraine. Our country comes first. They don’t care about our border or our people.”

    https://thehill.com/homenews/house/3719467-marjorie-taylor-greene-under-republicans-not-another-penny-will-go-to-ukraine/

    Remember, Zelensky’s parents live in a $8 million house with a $12,000 a month security detail, paid for by U.S. taxpayers. And less than one third of military aid actually goes to front line combat operations.

    Keep paying income taxes, slaves.

    Globalists gonna globe.

          1. And another image file courtesy of No New Normal, compilation of The Atlantic headlines promoting medical genocide:

            https://media.scored.co/post/Td34asVrC1NC.jpeg

            Remember, these Atlantic writers all have NAMES and ADDRESSES, and 4chan has all of that information. What happens if someone decides to act on that, well, who knows what could happen?

            From the U.S. version of House of Cards, journalist Zoe Barnes gets shoved in front of a moving train (4m12s):

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

          2. Rasmussen Reports (1/13/2022):

            “Fifty-nine percent (59%) of Democratic voters would favor a government policy requiring that citizens remain confined to their homes at all times, except for emergencies, if they refuse to get a COVID-19 vaccine. Such a proposal is opposed by 61% of all likely voters, including 79% of Republicans and 71% of unaffiliated voters.

            Nearly half (48%) of Democratic voters think federal and state governments should be able to fine or imprison individuals who publicly question the efficacy of the existing COVID-19 vaccines on social media, television, radio, or in online or digital publications. Only 27% of all voters – including just 14% of Republicans and 18% of unaffiliated voters – favor criminal punishment of vaccine critics.

            Forty-five percent (45%) of Democrats would favor governments requiring citizens to temporarily live in designated facilities or locations if they refuse to get a COVID-19 vaccine. Such a policy would be opposed by a strong majority (71%) of all voters, with 78% of Republicans and 64% of unaffiliated voters saying they would Strongly Oppose putting the unvaccinated in “designated facilities.”

            While about two-thirds (66%) of likely voters would be against governments using digital devices to track unvaccinated people to ensure that they are quarantined or socially distancing from others, 47% of Democrats favor a government tracking program for those who won’t get the COVID-19 vaccine.

            How far are Democrats willing to go in punishing the unvaccinated? Twenty-nine percent (29%) of Democratic voters would support temporarily removing parents’ custody of their children if parents refuse to take the COVID-19 vaccine.”

            https://www.rasmussenreports.com/public_content/politics/partner_surveys/jan_2022/covid_19_democratic_voters_support_harsh_measures_against_unvaccinated

  16. A reader sent these in:

    For the folks predicting a housing correction: If a house has increased 300% over the last 3 yrs the idea that it could only correct 30% is absurd. A 50% drop is far more likely and would still keep the value above the historical average annual increase for RE prices.

    https://twitter.com/Cribdilla/status/1588503746585440257

    Sellers are feeling the pressure of the real estate markets and are actively slashing prices. We took a look at 20 major metros to dig into how often prices are cut, by what margin, by unit type, and by age of home. A 🧵

    https://twitter.com/ParclLabs/status/1588547989660139523

    Lance Lambert

    Real estate layoffs this week:
    Opendoor: 550 (18%)
    Radian Group: 166
    CBRE: (looming layoffs—reportedly they hope to save $400m)
    Mr. Cooper: 800
    Promontory MortgagePath: Everyone—it’s shuttering

    https://twitter.com/NewsLambert/status/1588552528706162688

    ROCKET MORTGAGES SAYS RATE LOCK VOLUME FELL BY 73% TO $25.6b FROM $86.7b, YOY

    https://twitter.com/The_Real_Fly/status/1588590489166843905

    Mortgage demand at Wells Fargo, $WFC, has dropped 90% year over year in the last three weeks.

    https://twitter.com/unusual_whales/status/1588627752131129344

    If you move to Austin from Cali and outbid all the locals for the house by 250k… who exactly are you going to sell that house to down the road?

    https://twitter.com/NipseyHoussle/status/1588691245161132037

    Rick Palacios Jr.

    8 months of housing supply in #LasVegas.

    https://twitter.com/RickPalaciosJr/status/1588688870094561282

    If you are praying for a pivot… ⬇️

    https://twitter.com/dana_marlane/status/1588742980932104193

    I’ve been talking about this for months. These 1 mil homes in Collin County cannot be compared to a 1 mil home in CA. They come with 20k annual property taxes. That’s a small mortgage itself, and it never gets paid down.

    https://twitter.com/texasrunnerDFW/status/1588334355855933441

    (Car) Repos are piling up

    https://twitter.com/OptionsScott/status/1588384851282911232

    Jerome Powell yesterday: “the ultimate level of #interestrates will be higher than previously expected” Here’s the #housingmarket contemplating even higher #mortgage rates:

    https://twitter.com/menlobear/status/1588212880628797440

    Aaron Layman

    This is good. Invitation Homes and the other predators in the U.S. housing space should be taxed into oblivion. The U.S. needs more affordable homes for families, not corporations looking to pull up the ladder and hoard the wealth.

    https://twitter.com/dfwaaronlayman/status/1588484026373132288

    1. “ROCKET MORTGAGES SAYS RATE LOCK VOLUME FELL BY 73% TO $25.6b FROM $86.7b, YOY”

      Rocket go Boom! Rocket crash…

  17. More California companies moving headquarters out-of-state than ever before, report says
    CBS Sacramento
    Nov 4, 2022
    It’s an unprecedented exodus. More California company headquarters are relocating out-of-state than ever before, according to a new report published by the Hoover Institution.

    https://www.youtube.com/watch?v=Z2zedCApW9w

    2:22.

  19. Jack Posobiec and Darren Beattie Explain the Sinister ‘Disinformation Archipelago’ Network Behind Censorship Efforts (11/3/2022):

    “On Wednesday’s episode of Human Events Daily, host Jack Posobiec spoke with Darren Beattie of Revolver News to discuss how a nefarious and nebulous group of individuals are working behind the scenes to censor speech in America. The pair explained that this group is fueled by elite colleges, and are part of a “disinformation architecture” akin to an archipelago.

    “They’re all the same group of people. It’s all a network,” Beattie told Posobiec, saying that there is a group of people “employed by the disinformation architecture. And, as we all know, disinformation is the new favorite censorship predicate of the regime.”

    This group, Beattie noted, takes speech that the regime doesn’t like and categorizes it as “misinformation.” That category attaches “social punishments” towards dissenters, incentivizing conformity along the way.

    “Say someone’s spreading disinformation,” Beattie said, adding that such a person could be accused of “a national security violation” which would “marshal the full weight and power of the national security state to shut up anybody who questions them on election issues, on health issues such as COVID principally, and on January 6, on immigration, it’s the whole gamut.”

    https://humanevents.com/2022/11/03/posobiec-and-darren-beattie-discuss-the-disinformation-archipelago

    Globalists gonna globe.

  20. With patriots being treated as Enemies of the State in our “woke” military, I’m not surprised to see treasonous scumbags selling out their country to the highest bidder – just like our globalist overlords and their Quislings have been doing for decades.

    Ex-Top Gun Marine who is facing life in jail for ‘assisting’ Communist Beijing is revealed to have lived at SAME address in Australia as Chinese hacker who admitted stealing US stealth fighter technology

    https://www.dailymail.co.uk/news/article-11392587/EXCLUSIVE-Former-U-S-military-pilot-arrested-Australia-listed-Beijing-address-Chinese-hacker-documents.html

  21. “Lobbyists are scrambling to get help from Washington to goose the housing market as demand tanks in response to rising interest rates and high prices. ‘Next year is going to be chaos,’ said National Housing Conference CEO David Dworkin, who believes tax legislation has a shot before 2023.”

    Time to pass a knifecatcher enablement measure to line up a group of future bailout recipients.

    1. “…tax legislation…”

      Maybe if they ended mortgage interest deductibility, housing prices could become more affordable.

      1. So infuriating how illegal border crossers, who should be deported on the spot, are not only allowed to stay, they are exempt from the jab mandate.

        1. I saw a report on one of the intake centers and they showed a long row of xbox systems for the kids and detailed how they make ‘culturally appropriate’ cuisine for them 3 times a day. Then they get a free ticket to the destination of their choice.

          Meanwhile the people in the tents on the street are ignored. Clown world.

  29. Trillions in Yellen Bux “wealth” getting vaporized from the central bankers’ Ponzi markets and asset bubbles. “Investors” who blindly trusted financial advisors and the financial media who led them down the primrose path are likely going to be forever inoculated against trusting the lying media or our captured regulators, enforcers, or policymakers.

    Shares for software giant Atlassian slump, wiping billions from company in minutes

    https://www.news.com.au/finance/markets/world-markets/shares-for-software-giant-atlassian-slump-company-blames-macroeconomic-headwinds/news-story/0ecaa3bdfd6dd95e2d3e22e10c3accfc

    Shares in one of Australia’s most successful companies have plummeted overnight, with software giant Atlassian losing billions in minutes.

      2. Everything they sell has a free open source alternative.

        Good to know. And thanks also for brightening my day with that C code last week.

      1. Cry it out, special snowflakes.
        This is my favorite comment.
        Twitter employees, I’m sorry wading into the tech world did not work. Fear not. You can learn to dig coal. #OneTeam

      2. It’s interesting that we receive an hour by etc of twitter angst about job cuts but nothing about all the other companies slashing. I have so many mortgage layoff articles I don’t even bother to post them. Where’s all the boo hoo? Don’t want to bring attention to it?

    2. “The policy fulfilled a promise Biden made during the 2020 presidential campaign to help debt-saddled former college students. Democrats hope the policy will boost support for them in Tuesday’s midterm elections in which control of Congress is at stake.”

      Put simply, buying liberal votes with taxpayer money.

  32. I scrolled through the last week of posts on the /r/coronavirus sub-Reddit, and there are no threads about The Atlantic piece calling for a CCP Flu amnesty, because Reddit is a cuck website. Instead they link to globalist scum articles like this.

    Los Angeles Times — Are the unvaccinated still a danger to the rest of us? (11/3/2022):

    https://archive.ph/sTDKo

    And this sad, sad urine soaked mattress of an article from the Washington Post has over 1,000 replies on the thread.

    For those still trying to duck covid, the isolation is worse than ever (10/26/2022):

    “Some members of the masked minority have reorganized their lives indefinitely …

    The precautions don’t feel particularly onerous to the couple. What gnaws at them is the sense that they’re out of step with society.

    “I feel like an outlier for doing the things that were standard just a short while ago,” says Grimaldi.

    “2019 is gone. It’s gone. And it’s not coming back,” says Kara Darling, the moderator of that group and several others like it. “So at my house we’ve had a lot of long conversations about what makes a life worth living.”

    Ariella Cohen Coleman does harbor some resentment.

    “We’d be more comfortable going out into the world if people would just show people some respect and put on a mask”

    “It’s absolutely more isolating now,” she says. “It makes me feel kind of left behind and forgotten.”

    https://archive.ph/qRgq3

    “They’re not sending their best”

    1. Los Angeles Times — Are the unvaccinated still a danger to the rest of us? (11/3/2022):

      Didn’t a pfizer exec recently admit that the jab does not stop the spread?

      We’d be more comfortable going out into the world if people would just show people some respect and put on a mask

      Why not wear a hazmat suit when you go out?

  35. CANADA
    ‘Take my jab up your a**’

    Nov 4, 2022

    https://www.youtube.com/watch?v=n9cYfPsv2oc

    1:23. From the comments:

    As an unvaccinated Irishman,I fully support these people

    As an unvaccinated Irish woman who saw through this virus scamdemic nearly three years ago I totally support all freedom fighters worldwide 🇮🇪

    As an Australian…I support this message

    As a Kiwi, I, fully endorse this message. Thank you Canadians. 🇳🇿NZ

    As a human being, I’m so proud of you all for letting him have it!

    As an angry unvaccinated red blooded Canadian, thank you for letting him know how much we really really love him.
    FJT with my unused boosters right up his rusty starfish.
    Thanks for the comments, I’m just tearing up reading the lovely comments from around the world.

    1. I was doing some yardwork so it took me a while to get back to your post above…

      “Bashing an 82-y/o man with a hammer is sick, sick, sick, regardless of the circumstances.”

    1. The Atlantic magazine has recently published a number of provocative articles. Gotta wonder, is it paying-off?

      1. Mistakes were made. Capriciously. Cruelly. Maliciously. Wantonly. Heinously. Therefore we need an amnesty so we can put these mistakes behind us.

    2. She missed one thing, how the Covid lockdown BS was used to help facilitate the theft of the 2020 Presidential Election.

      Here’s how states have changed the rules around voting amid the coronavirus pandemic

      Nine states plus D.C. will send mail-in ballots to active registered voters.

      By Quinn Scanlan
      September 22, 2020, 6:57 PM

      For the general election, at least 30 states plus the District of Columbia have made at least some changes that will make it easier and more accessible for voters to cast their ballots from home. These changes include removing strict excuse requirements or allowing COVID-19 concerns to be a valid excuse to vote absentee, allowing ballot drop boxes, offering prepaid postage on election mail and proactively sending all active registered voters applications to request an absentee ballot — with some even skipping that step and sending the actual ballots.

      The states are: Alabama, Arkansas, California, Connecticut, Delaware, District of Columbia, Georgia, Illinois, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, West Virginia and Wisconsin.

      https://abcnews.go.com/Politics/states-changed-rules-voting-amid-coronavirus-pandemic/story?id=72309089

  43. Is the Fed greasing the skids for a reversal of Quantitative Tightening?
    The best cure for the lack of Treasury bond market liquidity would be to get inflation under control. Not there yet…

    1. Markets
      CNBC TV
      Watchlist
      Metals
      Gold soars as U.S. jobs data raises Fed slowdown hopes
      Published Thu, Nov 3 2022 11:40 PM EDT
      Updated Fri, Nov 4 2022 4:24 PM EDT
      A selection of gold jewellery displayed in the window of a store in the Dubai Gold Souk in Deira, in the United Arab Emirates.
      Yui Mok | Pa Images | Getty Images

      Gold prices surged 3% on Friday as the dollar fell after data showing an uptick in the U.S. unemployment rate in October raised optimism the Federal Reserve would be less aggressive on rate hikes going forward.

      U.S. employers hired more workers than expected in October, but a rise in the unemployment rate to 3.7% suggested some loosening in labor market conditions.

      “The U.S. jobs report has hit the sweet spot of what the marketplace was wanting to see and that has allowed gold prices to rally,” said Jim Wyckoff, senior analyst at Kitco Metals.

      Spot gold last rose nearly 3.19% to $1,684.90 per ounce. Bullion is up nearly 2.2% for the week, the biggest weekly percentage gain since end-July.

      U.S. gold futures were up 3.3% to $1,684.70.

      Following the jobs data, the dollar index fell 1.6%, making greenback-priced gold more appealing for overseas buyers.

      The U.S. central bank on Wednesday raised interest rates by 75 basis points, but signaled they would soon scale down its aggressive rate-hike cycle as it allows time for the economy to absorb the swiftest tightening of monetary policy in 40 years.
      …
      https://www.cnbc.com/2022/11/04/gold-markets-hawkish-federal-reserve-recession-us-jobs-report.html

      1. The Financial Times
        US Treasury bonds
        Investors urge US Treasury to boost bond market liquidity with buyback scheme
        Fed’s aggressive monetary policy has added to volatility in the normally boring $24tn market
        The US Treasury building in Washington, DC
        The Treasury department would need to ensure that any buyback programme is not seen to be in conflict with US Federal Reserve efforts to tighten monetary policy
        Kate Duguid in New York and Colby Smith in Washington
        October 30 2022

        US government bond investors are urging the Treasury department to intervene in the market, hoping for signals this week of possible buybacks after months of wild prices swings and poor liquidity.

        The Federal Reserve’s aggressive increases in interest rates and quantitative tightening programme this year have amplified the drama in the normally staid $24tn Treasury market. Investors want the Treasury to provide clues of its plans when it makes its fourth-quarter funding announcement in the coming days.

        Treasury yields, which determine the US government’s borrowing costs and are used as benchmarks for prices across asset classes, have gyrated wildly in 2022. The volatility has made it harder and more expensive for investors to buy or sell Treasury bonds in a market that is ostensibly the most liquid in the world.

        Treasury secretary Janet Yellen has said she is watching the situation closely. The Treasury department also asked primary dealers — banks that buy bonds directly from the Treasury — in a mid-October survey whether it should buy back older Treasury bonds, which are traded less frequently. The prospect of buybacks was first raised by the Treasury Borrowing Advisory Committee in an August report that highlighted the declining depth of the Treasury market, one measure of liquidity.

        After discussing the results of that survey with primary dealers last week, investors, strategists and primary dealers are expecting the Treasury to include some details in the documents it releases this week. The Treasury on Monday will announce its estimated financing needs for the fourth quarter and its issuance plans on Wednesday.

        The Treasury department declined to comment on the topic of buybacks.

        While buybacks are not expected to be announced yet, even the prospect of that intervention could help buoy a market in which liquidity has deteriorated to the worst levels since March 2020. An announcement could also shore up faith after the turmoil that engulfed UK financial markets, during which government yields rose more than 1 percentage point in a matter of days.

        “Buybacks will give the market confidence that there is a backstop if things get too cheap,” said Gennadiy Goldberg, a rates strategist at TD Securities, who expects buybacks to be officially announced in early 2023.

        “Buybacks would allow banks to get [bonds] off their balance sheet when there are no buyers and would allow them to use their balance sheet more efficiently.”
        …

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