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The Property Market Has Seen Gargantuan Price Growth, When That Happens, The Wheels Invariably Come Off

A report from West Hawaii Today. “Realtor Gretchen Osgood, principal broker at Hawaiian Isle Real Estate, said homes that have sold for $1 million are now being sold for $900,000 as sellers reduce their prices to attract buyers. Even though there are still some cash buyers purchasing homes on the island after selling on the mainland, Osgood agreed that buyers have become more hesitant. ‘I think they could end up going down by $400,000 before this is over,’ Osgood said, adding that some sellers are still taking ‘a long time to get a reality check’ but will eventually have to accept a lower price than what they want. ‘My advice here is: If you think you’re going to move soon or lose your job soon, sell your house now,’ Osgood said. ‘Don’t wait until next year.'”

San Francisco Bay View in California. “The Treasure Island-Yerba Buena Island development project is crucially important to the City and County of San Francisco. Developers were counting on the huge project at Yerba Buena and Treasure Island standing as a centerpiece of new housing, some of it affordable. At the center of the centerpiece are the astronomically priced Yerba Buena Island condos. Because San Francisco’s reputation is so damaged, ‘They’re having trouble selling those condos,’ asserted Lotus Yee Fong. ‘Also,’ she said, ‘They overbuild. They planned it and built it when they thought that they could fill it,’ said Fong, ‘and nobody’s coming.'”

“San Francisco is filled with citizens in tents ranged along sidewalks next to desperate fentanyl hawkers and people dead from drug overdoses. This has given the City a reputation as a place where, as Fong put it, ‘conventions and tourists don’t necessarily want to come. Also, the tech bubble has burst so companies are moving out of the City and the state. The convention business has started coming back to a small degree but not like it used to be. And the mental health and homeless issues – the reputation is everywhere now, so people don’t want to come to San Francisco anymore.'”

“‘There are too many residential and commercial (buildings) at high rates, and they are not filling them. That’s why the people with money are in trouble.’ The assumption has been that the YBI condos will be bought up by rich Chinese. Fong cautioned, ‘You can’t be planning for people who aren’t even going to live here. We have to look at the big picture and the big strings.’ Referring to ‘the new money in the city,’ she said, ‘a lot of wealthy people don’t want to live here.'”

The Seattle Times in Washington. “Seattle home sellers are waiting longer to find a willing buyer despite lower prices, signaling a dramatic shift from the bidding wars of just six months ago. Look no further than Snohomish County, where there were three times as many homes still for sale at the end of October than at the same time last year. Compared to the market’s peak in May, October median home prices were down 10% each in King and Snohomish counties, 8% in Pierce County and 7% in Kitsap County, according to Northwest Multiple Listing Service data.”

“Zillow senior economist Nicole Bachaud predicts Seattle-area prices will stay flat between now and next fall. That’s in part because the huge price hikes in 2020 and 2021 were ‘completely unsustainable,’ Bachaud said. ‘We can’t have 20% growth every year, and the reason why is because of affordability,’ Bachaud said. ‘Incomes have grown, but they have not grown nearly as much as home values did. So, there’s not going to be anybody left to buy homes at a certain point.'”

“Poulsbo broker Frank Wilsonhad advice for potential sellers looking to price their home right. ‘What your neighbor’s house sold for six months ago has very little bearing on your home’s value today.'”

Ahwatukee Foothills News in Arizona. “The Valley’s housing market is not only worsening for sellers but also looking not so hot for builders, a leading local analyst of the local market said last week. The Cromford Report offered a dismal outlook on the new-home construction scene in the Valley, stating that the number of permits being issued for new homes is plummeting and that the industry here is ‘slamming on the brakes.’ Reporting that ‘things are getting worse for sellers,’ the Cromford Report said its index of Valley home sub-markets – based on a variety of sales and price data – shows ‘the deterioration in the market continues to fall.'”

“‘Eleven cities are buyer’s markets, three are balance and three are still seller’s markets, though all three are deteriorating rapidly,’ the Cromford Report said.The ‘deteriorating markets’ are Fountain Hills, Paradise Valley and Scottsdale. It said that of those submarkets, Queen Creek now offered the least favorable market for sellers.”

From CNBC. “The historic run-up in home prices during the first two years of the pandemic gave homeowners record amounts of new home equity. Since May, however, about $1.5 trillion of that has vanished, according to Black Knight. The average borrower has lost $30,000 in equity. Less than 500,000 borrowers are currently underwater on their mortgages, but that is still double what it was in May. Those who purchased their homes in the past year will be most at risk of going underwater since they bought at the peak of the market.”

From Bankrate. “The pessimists compare home prices to median incomes, a basic measure of affordability. If the median home price is $360,000, for instance, and median family incomes are $90,000, then the price-to-income ratio is 4. During the pandemic, Americans experienced some boosts to income, but their homebuying power shot up mostly because of the plunge in mortgage rates. That allowed buyers to absorb large increases in home prices — and sent the price-to-income ratio above the levels seen during the housing bubble of 2005 to 2007, says James Knightley, chief international economist at ING Bank.”

“‘We’ve gone from 4 to 5.3 in the space of two years. That is a shockingly large number,’ he says. ‘The worrying thing is, to get back to 4, we need home prices to fall 20 to 25 percent.'”

The Globe and Mail. “A growing share of mortgage loans made by major Canadian banks have amortization periods of more than 30 years, a sign of the rising stress borrowers are under as interest rates soar. A larger proportion of mortgages with long amortizations gives an indication of the number of borrowers who could face significant hikes to monthly payments. ‘The vulnerability is spreading,’ said Robert Colangelo, senior credit officer with credit rating agency Moody’s Investors Service. ‘If that percentage increases, it implies that more variable-rate mortgage holders are vulnerable to a much higher mortgage payment.'”

“Samantha Brookes, chief executive of mortgage brokerage Mortgages of Canada, said it would be difficult for many households to come up with the extra cash to service their loans. For example, a homeowner who got a $800,000 mortgage with a variable rate of 1.35 per cent in January with a 25-year amortization would have paid $3,143.42 monthly, with the bulk of the mortgage payment going toward paying down the loan, according to Ms. Brookes. With today’s variable rate of 5.1 per cent, that same homeowner would pay $4,723.45 per month, and most of the payment would go toward interest.”

From IFA Magazine. “Jon Halbert, mortgage and protection adviser at Ormskirk-based Key Financial Associates: ‘House prices falls are a nailed-on certainty. It’s not so much headwinds the property market is facing but a hurricane. As demand for property drops off due to the Bank of England’s rate hikes, sales will inevitably slump. But this alone will not reduce property prices. When people become desperate to sell and reduce the sale price of their home below that of the current market value, all the homes in the same street reduce in value to the same level. This is the domino effect that triggers house price falls. The rising cost of borrowing will force a growing number of homeowners to sell because their affordability on the new rates when they come to remortgage, coupled with the cost of living, will become impossible. Repossessions will also rise as a result of recent rate rises. If lenders relax their criteria around interest-only mortgages, many will be able to survive potential repossession.'”

“Andrew Simmonds, director at Bristol-based Parker’s Estate Agents: ‘Since the summer, I’ve been telling vendors that their house is worth what it was worth 12 months ago. I’ve lost instructions because they’ve said ‘nah.’ This is mainly because of deluded competitors who feed them bull. Plenty have since come back to me saying ‘you were right.’ I’m expecting average prices to be down 20% by March.'”

“Paul Holland, mortgage broker at Chatham-based Henchurch Lane Financial Services: ‘The property market has seen gargantuan price growth over the past 2-3 years. Healthy and sustainable house price growth is annual growth of circa 2%-3%, not 10%+. When that happens, the wheels invariably come off.'”

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This Post Has 130 Comments

  1. ‘During the pandemic, Americans experienced some boosts to income, but their homebuying power shot up mostly because of the plunge in mortgage rates. That allowed buyers to absorb large increases in home prices — and sent the price-to-income ratio above the levels seen during the housing bubble of 2005 to 2007, says James Knightley, chief international economist at ING Bank’

    ‘We’ve gone from 4 to 5.3 in the space of two years. That is a shockingly large number,’ he says. ‘The worrying thing is, to get back to 4, we need home prices to fall 20 to 25 percent’

    ‘sent the price-to-income ratio above the levels seen during the housing bubble of 2005 to 2007’

    Jim, this was the sleazy REIC juicing the market with fraud. Interest rates didn’t lower price to income ratios – the lenders did. And apparently no one was minding the store, right Jerry?

    Behold, the massive CCP virus shack boom came at the same times as a massive lowering of loan standards. Isn’t that always how it works?

    1. How old was Ashley Biden when her father Joe Biden stopped bringing her into the shower with him?

      How old was she?

    2. ‘We’ve gone from 4 to 5.3 in the space of two years. That is a shockingly large number,’ he says. ‘The worrying thing is, to get back to 4, we need home prices to fall 20 to 25 percent’

      The real worry on main street is that you think 4x income is the new normal. In all honestly, we need to get back to 2.5x income for true affordability.

      1. Agreed. And if interest rates go even higher, then that ratio has to come down even more.

        And I’d like to know where the ratio is 5.4 to 1. Every place I’ve seen metrics for is about 8 to 1, 10 to 1, etc.

        1. Exactly my thought. That has to be the absolutely best case scenario in this whole mess. And surely it’s no place of consequence. Any place of importance is waaaaaaay higher than that.

        3. At the height of the frenzy last fall, Maryland burbs were running $525K for a Minimalist Millenial Gray flip-reno 3-bed ranch built in the 1960s. All you need is a two income family making $60K each, and that’s 4.3x. With today’s dropping prices, it’s closer to 3.5x. Still not great with interest rates so high.

          Sorry I’ve been away; I’m visiting relatives. I’ll see if I can pop in tonight for partial election results.

          1. The Republicans have already flipped 6 House seats. It’s curtains for Diaper Joe and his woke fraudsters. This lame duck will go out as the worst president in US history by a long shot.

    3. “REIC juicing the market with fraud.”

      bbbbut…. but…. bbbbut…. bbbbbbut…. “I didn’t mean to your honor!”

      Yer going to jail my good friend……. yer going to jail.

      Aurora, CO Housing Prices Crater 18% YOY As Denver Area Housing Market Submerges In A Seething Pot Of Foreclosures And Mortgage Fraud

      https://www.movoto.com/aurora-co/market-trends/

  2. ‘Reporting that ‘things are getting worse for sellers,’ the Cromford Report said its index of Valley home sub-markets – based on a variety of sales and price data – shows ‘the deterioration in the market continues to fall’

    Sure Tina, 12 years of to the moon Alice!, 6 months down and to the moon again! Enjoy the bust.

    2. Owning nothing but controlling everything is the motto of the rich.
      Like Mr. Banker, i will own, through control of trusts, everything.

  4. ‘I think they could end up going down by $400,000 before this is over,’

    I wonder how this permabear came up with her gloomy prediction?

    “Osgood said, adding that some sellers are still taking ‘a long time to get a reality check’ but will eventually have to accept a lower price than what they want. ‘My advice here is: If you think you’re going to move soon or lose your job soon, sell your house now,’ Osgood said. ‘Don’t wait until next year.'”

    That’s the spirit!

    1. ‘My advice here is: If you think you’re going to move soon or lose your job soon, sell your house now,’ Osgood said. ‘Don’t wait until next year.’

      Conjures up memories of U.S. defense workers watching the Germans on television knocking chunks out of the Berlin Wall with sledge hammers.

      1. It’s almost as if relitters say and do whatever it takes to scare the $%& out of one side to ensure that sales continue. “Buy now or be priced out forever”. “Sell now or be stuck forever, or until you get foreclosed”.

        But we all know “relitters have ethics”, so this must be a coincidence.

    1. The Fed is raising interest rates, but there’s another tool that it hopes will help crush inflation and deflate market bubbles
      Jennifer Sor
      Nov 6, 2022, 5:30 AM

      – The Fed has ratcheted up interest rates this year, but that’s only half of its approach to fighting inflation and taming frothy markets.
      – Quantitative tightening is meant to suck excess liquidity from the market, fighting inflation and deflating bubbles.
      – Experts say there is the potential it goes too far, but the Fed can avoid a crisis if it eases up on QT gradually.
      …
      https://markets.businessinsider.com/news/bonds/federal-reserve-balance-sheet-inflation-rate-hike-monetary-policy-crash-2022-11

      1. I imagine the fed would have to heavily discount their MBS (purchased at par) before anyone would be interested given that asset values are falling and interest rates are rising.

    2. 4 minute read
      November 8, 20224:43 AM PST
      Last Updated 23 min ago
      Analysis: Nagging U.S. Treasury liquidity problems raise Fed balance sheet predicament
      By Gertrude Chavez-Dreyfuss

      NEW YORK, Nov 8 (Reuters) – The U.S. Federal Reserve’s ongoing balance sheet drawdown has exacerbated low liquidity and high volatility in the $20-trillion U.S. Treasury debt market, raising questions on whether the Fed needs to re-think this strategy.

      Intended to drain stimulus pumped into the economy during the COVID-19 pandemic, the Fed’s quantitative tightening (QT), as it is commonly referred to, has been running for the last five months. The Fed’s balance sheet though remains at a lofty $8.7 trillion, down modestly from a peak of nearly $9 trillion.

      Since September, the Fed has planned to allow $95 billion in balance sheet runoff, meaning it would no longer reinvest the principal and interest payments received from maturing U.S. Treasuries and mortgage-backed securities.

      However, there are underlying liquidity and volatility problems in U.S. Treasuries amid the Fed’s aggressive rate hike cycle. The problems can also be traced to long-running structural issues arising from U.S. banking regulations created in the aftermath of the 2008 global financial crisis.

      While the Fed is determined to reduce its balance sheet, if the problems facing investors get out of control, some analysts said the Fed may just halt or suspend it.

      “It is certainly conceivable that, if bond volatility continues to rise, we could see a repeat of March 2020. The Fed will be forced to end its QT and buy a large amount of Treasury securities,” wrote Ryan Swift, BCA Research U.S. bond strategist in a research note.
      …
      https://www.reuters.com/markets/us/nagging-us-treasury-liquidity-problems-raise-fed-balance-sheet-predicament-2022-11-08/

      1. I’m no expert, but it seems like another reversal on Quantitative Tightening could crush the Fed’s credibility regarding plans to shrink its balance sheet, and seriously jeopardize its inflation reduction efforts.

        2. I’m no expert, but it seems like another reversal on Quantitative Tightening could crush the Fed’s credibility

          You think the Fed still has credibility? – that’s adorable.

    3. If the Fed balance sheet level is purely arbitrary and fully discretionary, why even bother with the political Kabuki dance of balance sheet shrinkage? If markets correctly expect a near term reversal, then this effort may have exactly the opposite effect from what was intended. The world may soon conclude that the Fed is mired in a liquidity trap of its own making, from which there is no escape except for uncontrolled inflation.

      2. Three weeks ago, Yellen the Felon said Treasury was “asking” the TBTF banks about Treasury buying up US bonds (debt). Of course they could only do with with created-out-of-thin air Yellen Bux funny money, which would offset or negate any impact from Powell’s supposed tightening.

      3. Uncontrolled inflation would mean the end of the US dollar and the end of the FED as we know it. They understand that, and will destroy anything to save the dollar and their jobs.

  6. Joe Biden: Historic Black Universities Are ‘Just as Smart’ as Other Colleges

    CHARLIE SPIERING
    7 Nov 2022

    President Joe Biden concluded his political rallies for the midterms at a historically black university in Maryland, telling students they were “just as smart” as other colleges in the United States.

    “HBCUs don’t have the endowments others have, but guess what, you’re just as smart, you’re just as bright, you’re just as good as any college in America,” Biden said.

    Biden’s comment recalls a number of racially insensitive comments he has made about black people.

    “Poor kids are just as bright and just as talented as white kids,” he said in 2019 during a speech in Iowa on the campaign trails.

    The president spoke at a campaign rally at the Bowie State University, a historically black university in Maryland with Democrat candidate for Governor Wes Moore.

    https://www.breitbart.com/politics/2022/11/07/joe-biden-historic-black-universities-are-just-as-smart-as-other-colleges/

  7. “Poulsbo broker Frank Wilson had advice for potential sellers looking to price their home right. ‘What your neighbor’s house sold for six months ago has very little bearing on your home’s value today.’”

    Price is what you pay. Value is what you get.

  8. Early election night results might not indicate final tallies (and why that’s OK)

    A “red mirage,” or an artificial GOP vote lead, will likely reoccur Tuesday.

    ByIsabella Murray
    November 7, 2022, 5:15 AM

    As early Election Day results come in on Tuesday, it will likely appear that a Republican candidates vying for any number of the federal or statewide races appear to be leading their Democratic opponents, even by large margins.

    Their leads will dwindle, or crumble completely, after perceived “dumps” of votes are recorded by state election officials who count mail-in and absentee ballots in the days — or even weeks — following Election Day.

    This phenomenon was popularized as the “red mirage” or the “blue shift” after the 2020 presidential election, when former President Donald Trump took a deceptive lead in several competitive states on Election Day due to delays in counting of Democrats’ mail-in ballots — their preferred method of voting due to the COVID-19 pandemic — only to eventually dissipate when the entire reserve of votes was totaled.

    The illusion was a principal component of Trump and his allies’ false claims that the contest was fraudulent upon his ultimate loss to Joe Biden.

    Why and where might we see a ‘red mirage’

    And it’s likely to occur in some of the same states where the phenomenon presented itself last cycle — in states like Pennsylvania, Michigan and Wisconsin — battleground states that also happen to feature some of the most hotly-contested races of the election season.

    “All signs point to the fact that it’s going to be extreme in certain critical states again, and Pennsylvania top among them,” Lawrence Norden, senior director of the Brennan Center’s Elections & Government Program said, noting that certain candidates may claim false victories or legally attempt to stop or slow vote counts.

    “I am very worried. I’m very worried that election denial forces are much more organized than they were in 2020.”

    https://abcnews.go.com/Politics/early-election-night-results-final-tallies/story?id=92762835

    1. “dumps” of votes are recorded by state election officials who count mail-in and absentee ballots in the days — or even weeks — following Election Day.

      More popular is the “dump” in the wee hours of the morning when “election officials” are officially taking a break from counting. We watched it live.

    4. “I am very worried. I’m very worried that election denial forces are much more organized than they were in 2020.”

      It becomes a lot harder to pull off fraud on the scale needed to elect deeply unpopular Democrat-Bolsheviks when base Republican voters burned by the 2020 election steal are energized and mobilized to head off any recurrence.

      1. IIUC, there will be a lot more energized Republicans manning the polling places this time, watching the vote dumps like a hawk. And does anyone know if Zuck dumped hundreds of millions into counting the votes this time?

          1. So, to confirm, a guy with severe brain damage just “won” the Senate seat in PA to give the Dems the Senate majority.

      2. I dropped off our ballots at the Rancho Bernardo library around 3:30PM. I saw a lot of other people doing the same. People aren’t trusting the mail. We’ll see if my ballot is actually counted this time.

          2. It’s a sad state for Our Country when people feel the need to personally deliver mail-in ballots to a polling station and that I’m excited my ballot was actually counted.

  9. Today is Election Day.

    Today is a good day to ask yourself, who are the Southern Poverty Law Center and the Anti Defamation League?

    Who are they? Seriously. They are not governmental agencies. They weren’t elected to govern anything.

    It’s time to start recognizing the patterns, and to start naming the names.

    Mark Potok, from the Southern Poverty Law Center, was photographed with a chart on the wall of his office projecting the decline of the white percentage of the U.S. population.

    Ask yourself why?

    1. The ADLnand the SPLC provide cover for Khazarian mafia and other loosely connected grifting operations. If you question a thug they shout anti-semitism. This is not a joke.

  10. Today’s Mortgage Rates, November 8, 2022 | Rates Ticked Up
    Jason Stauffer’s profile picture
    Jason Stauffer
    November 8, 2022 | 6 Min Read
    Mortgage rates have had a dramatic 2022.

    After a few years of rates near record lows – around 3% or lower for a 30-year fixed rate – averages have roughly doubled since January. Inflation is the main reason why, and rates have escalated as the Federal Reserve has ratcheted up its interest rate to tame those high prices.

    Higher mortgage rates have cooled off a piping hot housing market. Home prices have started to dip since the start of summer, and are falling faster in some communities. Unfortunately those higher rates also mean monthly payments are likely to be significantly higher. Run today’s mortgage rates through a calculator and give yourself plenty of breathing room, as rates are changing quickly.

    Let’s look at today’s rates and what they mean for borrowers.

    Looking at today’s mortgage rates a few significant rates increased. Interest rates on 30-year fixed-rate mortgages were driven higher, however 15-year fixed mortgage rates sank. At the same time, average rates for 5/1 adjustable-rate mortgages (ARM) ticked up.

    The average mortgage rates are as follows:

    – 30-year fixed mortgage rates are averaging 7.32%
    – 20-year mortgage rate: 7.34%
    – 15-year fixed mortgage rates are averaging 6.43%
    -10-year fixed mortgage rates are averaging 6.59%
    – The average 5/1 adjustable mortgage currently sits at 5.59%
    …
    https://time.com/nextadvisor/mortgages/daily-rates/mortgage-rates-today-november-8-2022/

  11. Personal Finance
    Treasury Department sold a record nearly $1 billion of Series I bonds on Friday, the deadline to lock in higher rate
    Published Tue, Nov 1 2022 10:44 AM EDT
    Updated Thu, Nov 3 2022 10:53 AM EDT
    Greg Iacurci

    Key Points
    – The U.S. Department of the Treasury sold $979 million of Series I bonds Friday, a record number, as investors rushed to beat a key deadline.
    – Friday was the deadline to lock in a record-high 9.62% interest rate for six months. The I bond rate reset Tuesday, falling to 6.89%, still the third-highest rate ever.
    – I bonds are a nearly risk-free asset tied to the rate of inflation.
    …
    https://www.cnbc.com/2022/11/01/treasury-department-sold-record-series-i-bonds-on-friday.html

    1. “Treasury sold $979 million of Series I bonds Friday, a record number,…”

      I helped several family members buy those the week before the deadline. It’s easy enough to persuade someone to pick up a $20 bill off the sidewalk, but amazingly difficult to persuade them to invest 30 minutes of time to claim $100s of free money over the next six months.

      1. Meanwhile the WEF just stole the Brazilian election and I’m sure they are doing everything they can to steal today’s election. I expect a globalist will win the Mexican election in 2024

  14. Paul Krugman brings the urine soaked mattress:

    “Do you think a MAGA regime, with or without Donald Trump, would be equally subtle? Listen to the speeches at any Trump rally. They’re full of vindictiveness, of promises to imprison and punish anyone — including technocrats like Anthony Fauci — the movement dislikes.

    And much of the American right is sympathetic to, or at least unwilling to condemn, violence against its opponents. The Republican reaction to the attack on Paul Pelosi by a MAGA-spouting intruder was telling: Many in the party didn’t even pretend to be horrified. Instead, they peddled ugly conspiracy theories. And the rest of the party didn’t ostracize or penalize the purveyors of vile falsehoods.

    Now, this catastrophe doesn’t have to happen. Even if Republicans win big in the midterms, it won’t be the end for democracy, although it will be a big blow. And nothing in politics, not even a full descent into authoritarianism, is permanent.

    On the other hand, even if we get a reprieve this week, the fact remains that democracy is in deep danger from the authoritarian right. America as we know it is not yet lost, but it’s on the edge.”

    https://archive.ph/NxDRO

    The New York Times is what President Donald Trump was correctly referring to when he stated that “the media is the enemy of the American people.”

    1. the attack on Paul Pelosi by a MAGA-spouting intruder

      Or was he, as some reports suggest, a welcome guest, a BLM supporter and an illegal alien? We want to know, not because we care if Pelosi is a reckless perv, but because they flatly blame Conservatives for the fiasco.

  15. Washington Post — Democrats are drowning in denial (11/7/2022):

    “For nearly two years, Democratic leadership has often pushed aside politically inconvenient developments rather than facing them head-on. They have often told themselves stories they want to believe instead of stories that are true — and that might motivate them to change their messaging or policy direction.

    They’ve downplayed voters’ concerns on crime, violent protests, school closures and rising recession risks. These are vulnerabilities that Republicans have exploited during the campaign (while offering no solutions of their own, of course).

    Democrats have also convinced themselves that pet policies beloved by left-wing Twitter activists will be broadly “popular” even when polls suggested public opinion is mixed at best.”

    https://archive.ph/FU0ut

    Vote Democrat Party if you want your teenage daughter to get raped by a tranny in a school bathroom.

    “They’re not sending their best”

  16. HuffPaint — Republicans Are Laying The Groundwork (Again) To Reject Elections They Lose (11/7/2022):

    “this tactic is familiar: Republican candidates who’ve pushed Donald Trump’s lies about voter fraud and stolen elections are using the former president’s playbook themselves to preemptively claim that their elections may be fraudulent.”

    The 2020 election was stolen.

    “The candidates preemptively claiming fraud are drawing from a yearsold well dug by Trump.”

    The 2020 election was stolen.

    “The only way we’re going to lose this election is if the election is rigged,” Trump said in August 2020 — a proclamation that resulted in his supporters, motivated by the same lie, attacking the U.S. Capitol five months later.”

    The 2020 election was stolen.

    “Trump has never acknowledged legitimate defeat, and his popularity among Republican voters hasn’t suffered as a result. GOP candidates appear to have taken note.”

    https://www.huffpost.com/entry/reublicans-preemptively-claim-fraud-cheating-2022-elections-kari-lake-blake-masters_n_63691d5fe4b024c301966e33

    Attorney General Merrick Garland is a domestic terrorist.

    He has ZERO legitimate authority to prosecute anything.

  17. A reader sent these in:

    Lance Lambert

    #NEW Falling home prices erased $1.3 trillion (7.6%) in home equity in Q3. That marks the largest quarterly dollar decline on record. It’s also the largest on a percentage basis since 2009.

    https://twitter.com/NewsLambert/status/1589717282648772609

    It always takes housing time to crack. Things are JUST getting started regardless of when Fed pivots. Prices should’ve dropped in ’19 but didn’t because of TRILLIONS in QE (especially MBS) under the guise of a pandemic. Now high rates, excess mortality, delayed family formation!

    https://twitter.com/OccupytheFeds/status/1589045587386589184

    Mortgage applications are down 93% year to date.

    https://twitter.com/TrackInflation/status/1589808203055132672

    37% of real estate agents couldn’t pay their rent in October, up from 27% in September, per Bloomberg. LMAO. Collapse incoming

    https://twitter.com/TrackInflation/status/1589631323827630080

    CALIFORNIA BASED MORTGAGE LENDER ATHAS CAPITAL GOES OUT OF BUSINESS

    https://twitter.com/DonMiami3/status/1589683537581838336

    Rocket Mortgage reported $96 million in net income Thursday, down 93% from a year ago. OMG

    https://twitter.com/DonMiami3/status/1589686269768265728

    LARGEST HOME BUILDER IN IDAHO TO LAYOFF 50% OF WORKFORCE AS IDAHO REAL ESTATE MARKET COLLAPSES

    https://twitter.com/DonMiami3/status/1589724108077441025

    The Jim Cramer of economics has spoken … Hyperinflation coming …

    https://twitter.com/WallStreetSilv/status/1589678743534342146

    Millions of upside-down car loans right now. It’s a standoff and someone has to blink because they are holding all those massively overvalued hard assets.

    https://twitter.com/MarkRechtin/status/1589638413313282048

    Ryan Lundquist

    The median price in the Sacramento region is the same as one year ago. We’ve seen a quick change lately. The median rose $185K in two years, and it’s dropped $75K since May. In short, 40% of pandemic gains have disappeared over the past six months.

    https://twitter.com/SacAppraiser/status/1589659918831058944

    The Fed’s balance sheet hit its lowest level of the year last week, down $289 billion from its peak in April and $119 billion over the last 5 weeks. This is the largest 5-week decline since July 2020. The Fed is finally starting to ramp up the pace of QT.

    https://twitter.com/charliebilello/status/1589613788957126656

    Danielle DiMartino Booth

    Compared to October 2019, US used retail auto sales were down 32%, which was the worst monthly comparison so far this year. Prices, which are down 10.6% YoY, follow sales. As repossession volumes pick up, we’ll see a separate source of pressure exerted

    https://twitter.com/DiMartinoBooth/status/1589625387138834432

    Carvana halted limit down, down 50% in last 2 days

    https://twitter.com/DonMiami3/status/1589630232344301569

    Opendoor in absolute free fall

    https://twitter.com/GRomePow/status/1589634429915627522

    The entire RE market is collapsing much faster than anyone can imagine. Consider a demand rate of +140 in early 2021 – now -27.65. New data will update in a few hours. Take a guess what the new numbers will be.

    https://twitter.com/BradMatheny33/status/1588216358470197248

    Kira Mason

    Demand has fallen off a cliff in Philly, but price data isn’t yet reflecting a drop. It will when today’s pending contracts close.

    https://twitter.com/kmasonrealtor/status/1588239514740224001

    Monte_Realtor_AZ

    I just went under contract on a home (Phoenix market) that would have sold for $470k in March in a day- took 32 days and under contract at $400k

    https://twitter.com/the_big_monte/status/1588247763652780032

  18. The Atlantic — Why Democrats Keep Struggling on Crime (11/8/2022):

    “Democrats seem to have no answer to the attacks being lobbed at them in the final weeks of the midterm campaign, just as they are only now awakening to the fact that it might be wise to have an economic message for voters.

    Crime is a devilish problem. Its causes are hard to understand and harder to influence. The trends run in long cycles, and although policy changes can alter the trends, they don’t do so quickly or simply. Expecting any candidate, or any party, to have a genuine answer to crime would be absurd. But crime is also politically potent, as Republicans grasp, and is thus fertile ground for attacks both fair and demagogic. (Just because you don’t have a simple, quick answer doesn’t mean you can’t claim you do.) In key races, Republicans have accused Democrats of being soft and ineffective on crime. They’ve attacked incumbents for presiding over rising violence and challengers for having supported cuts in police spending.

    The Democratic Party’s situation is tougher. The pollster Stan Greenberg has found that worry about rising crime under Democrats is a more potent fear than any other issue this cycle. As the party in power in Washington, it has to play defense.

    A Gallup poll released last week found that 78 percent of Americans say crime is increasing nationwide, matching the figure from 2020. (The all-time record, 89 percent, was set in 1992, when crime in fact hit its recorded high.) For the first time since 2016, a majority of Americans say they worry a “great deal” about crime. Less than a quarter are satisfied with crime policies—a 50 percent drop from 2020. More than seven in 10 say crime will be very or extremely important in their vote for Congress.”

    https://archive.ph/cz0nq

    Democrat Party is the party of Burn Loot Murder and Pantifa.

    Democrat Party is 100 consecutive nights of violent riots in Portland in 2020.

    Democrat Party is the Wawa gas station being overrun and looted by packs of feral youts (i.e. Sons of Obama).

    Democrat Party is your stolen catalytic converter.

    Democrat Party is you finding your child turned blue and dead in their bed from a fentanyl overdose.

    This is Democrat Party.

    1. This criminal enterprise masquerading as a political party is quite capable of orchestrating electoral fraud on a vast scale, as they’ve shown a time or two. We may not be able to vote our way out of #ClownWorld.

    2. Crime is a devilish problem.

      Yes because they will never ever ever talk about functional illiteracy among the vibrants. They can’t read That’s where we are today, instead of demanding they read at grade level to pass, its racis to hold them up to a “white” standard of English, and stay off the school to prison pipeline.

  19. ‘Also, the tech bubble has burst so companies are moving out of the City and the state’

    Oh, that!

    ‘What your neighbor’s house sold for six months ago has very little bearing on your home’s value today’

    So Frank, what does that mean for a buyer of a Seattle MBS from 6 months ago, especially since it’s a negative yield adjusted for inflation?

  20. ‘The pessimists compare home prices to median incomes, a basic measure of affordability’

    What an odd thing to say.

  21. We’re Almost Back To 2007

    March 26, 2020

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

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

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

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

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

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

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

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

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

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

  22. New Build Home Deals Jacksonville Florida You Won’t Believe
    Nov 7, 2022
    Check out these incredible specials from KB Homes

    Home Builders have too much inventory! A happy-for-you side effect of the shift in the housing market is home builders with excess inventory are offering specials that they would NEVER offer a year ago, and they WON’T offer when their inventory is back down to normal. All the free down payment assistance is amazing. If you thought you couldn’t afford a home in this market, take another look.

    Right now KB Homes is covering all your closing costs – even prepaids (call me and I’ll be happy to discuss the difference). They are even buying down your interest rates to help with your monthly payment!

    This inventory home is on Beautiful Panther Creek. Here are the stats:
    3 Bedrooms
    2 Bathrooms
    1,501 Square Feet
    Preserve Lot
    Lots of Upgrades
    Luxury Vinyl Plank Floors Quartz Countertops
    42” Cabinets
    Free Privacy Fence
    and More!
    Asking Price: $319,900

    Call today for more details about this home, or other great inventory home deals.

    https://www.youtube.com/watch?v=hl8s8Bi_jUY

    2 minutes.

  23. ““Zillow senior economist Nicole Bachaud predicts Seattle-area prices will stay flat…..”

    Woman….. your skull is flat…… and empty.

    Amesbury, MA Housing Prices Crater 24% YOY As Rampant Appraisal Fraud Ravages Boston Area

    https://www.movoto.com/amesbury-ma/market-trends/

    As one Boston area broker explained, “I have to lie more than ever just to get a sale anymore.”

  24. Our globalist oligarchs & their Democrat-Bolshevik Quislings can’t destroy the country on their own – they need your active complicity with your D vote! Forward, Soviet!

    ‘There are strategic ways to do it… not to raise the flag’: Undercover video catches wife of Colorado Senator admitting Dems are quietly defunding the police – and that the Inflation Reduction Act is really a health and climate bill

    https://www.dailymail.co.uk/news/article-11401885/Sen-Michael-Bennet-blasted-wife-suggests-Democrats-defund-police-quietly.html

  25. Housing Market Has Shifted From Seller’s Market To Buyer’s Market
    Willie Bothwell
    Nov 7, 2022
    I help homeowners that have defaulted of their mortgage payments sell their home the traditional way by use of a Real Estate Broker (Me) or by way of Cash buyer (Me) to avoid paying a commission, depending on your unique situation. There is still time to keep your home out of foreclosure and save your credit.

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

    1:12.

  26. And another one gone and another one gone, another one bites the dust!

    More than $11m owed to hundreds of subbies as another building company goes under

    https://www.news.com.au/finance/business/other-industries/more-than-11m-owed-to-hundreds-of-subbies-as-another-building-company-goes-under/news-story/05a4c6742000c811aa402bf926b8b048

    A financial report by liquidators has revealed the crippling financial woes of a major builder, which owes millions of dollars to hundreds of creditors.

    1. “Hundreds of other subbies are owed varying amounts in the documents, including electricians, concreters, scaffolders and painters.”

      Bring your sleeping bag and line up for the drippings.

  28. Few Tips for Getting a Real Estate Lowball Offer ACCEPTED!
    Rupi Azrot ( Riverside, Inland Empire, Orange County Real Estate)
    Nov 7, 2022
    Are you a new Home buyer? When buying Real Estate in this 2022 market you’ll need to make some low ball offers. In this video I’ll share some tips on making that low ball offers without offending the seller. Should you buy now or wait?

    https://www.youtube.com/watch?v=-B03jkangbw

    2:22.

        1. I’ve been voting since long before there were computers all over the place, and we usually knew by midnight on election day.

  30. ….”The Wheels Invariably Come Off”

    …. and the Shithouse Poet forgot to check the blinker fluid.

    Sacramento, CA Housing Prices Crater 24% YOY On Surging Inventory And Plummeting Demand

    https://www.movoto.com/ca/95814/market-trends/

    As one Sacramento broker decried, “We’ve been lying for so long how are we now supposed to tell the truth now?”

    1. “the Shithouse Poet”

      Someday I will post the greatest Porta-Poem of all time (if I can get it past the goalie :)). Took me two months of 10am leak breaks to learn it on a project I worked back in the 80s.

      1. I’ve read some lit on blueroom walls that deserve a pulitzer but nothing beats some of the graffiti these guys come up with. Caricatures of yours truly are the best.🤣

  31. Will Interest Rates Crash The Housing Market?
    Anne Stewart
    Nov 7, 2022
    Will Interest Rates Crash The Housing Market?

    What happened to home prices when the FEDs raised basis points by .75% again! that means interest rates can go up again and now we are seeing a larger pressure on home prices than ever before. Let’s look at an example of a mortgage payment that one year ago today could buy a home buyer a $1 million dollar home and the same payment gets them $700,000. So home prices are seeing a suppression in value as interest rates have been climbing. The housing market forecast will be a housing crash or a “soft” landing in the portland Oregon real estate market?
    Could we see home values go down in 2023? That’s the question. Interest rate hikes will determine what home prices will sell for. Give us a call if you want to know what your home value is worth now and what changes in the real estate market here in Portland is like give us a call.

    00:00 Introduction
    00:21 Mortgage Payment Differences in 1 year
    00:54 Price Reductions in Portland Oregon
    01:13 Housing Inventory in Portland
    01:36 Housing Adjustment time frame
    01:50 When should you sell your home?

    https://www.youtube.com/watch?v=ZMq-809bbNM

    2:22. 40% slashing prices every week. Is that a lot?

    1. From video:

      Homeowner: ‘…we paid a lot of money for this house…”

      Message to Homeowner: What you really paid a lot of money for was a teardown.

      The HBB and its readers, have over many, many years, repeatedly warned about shoddy build quality in new construction.

  34. “The assumption has been that the YBI condos will be bought up by rich Chinese. Fong cautioned, ‘You can’t be planning for people who aren’t even going to live here. We have to look at the big picture and the big strings.’ Referring to ‘the new money in the city,’ she said, ‘a lot of wealthy people don’t want to live here.’”

    Whatever happened to the rich all-cash Chinese investors who are supposed to snap up properties wherever they are offered for sale in the US? Could the epic real estate crash at home coupled with pandemic lockdowns possibly be dampening their enthusiasm for catching falling knives in the US housing market crash?

    1. Chinese economy
      A Ponzi scheme by any other name: the bursting of China’s property bubble
      Under-construction apartments in the Shekou area of Shenzhen, Guangdong province, China, last November.
      Only state intervention can save the day, but the pain is likely to fall on ordinary citizens, say observers
      Martin Farrer
      Sun 25 Sep 2022 09.20 EDT
      Last modified on Mon 26 Sep 2022 00.11 EDT

      A little more than a year ago, a Chinese property developer largely unknown to the outside world said its cashflow was under “tremendous pressure” and it might not be able to pay back some of its eye-watering debts of $300bn (£275bn).

      Today, that company, China Evergrande Group, is all too well known as the poster child of the country’s economic woes. House prices in China have fallen in each of the 12 months since Evergrande’s now prophetic warning, with Xi Jinping’s government now preparing to throw billions of dollars at a property market that experts say increasingly resembles a giant Ponzi scheme.

      Prices for new homes in 70 Chinese cities fell by a worse-than-expected 1.3% year on year in August, according to official figures, reflecting a turbulent 12 months in which China’s housing sector has gone from an unstoppable driver of growth and prosperity to being the chief threat to the world’s powerhouse economy.

      Nearly a third of all property loans are now classed as bad debts – 29.1%, up from 24.3% at the end of last year, according to research by Citigroup this week – with once safe state-owned property developers driving the increase.

      The crisis at Evergrande, then China’s second biggest property developer, has spread through the industry to the point where the government’s pledge this week of 200bn yuan (£26bn) to kickstart investment was judged by analysts to be well short of what was needed.

      The rating agency S&P said at least 800bn yuan would be needed – or even 10 times that much in the worst-case scenario – to rescue a property market in which priceshave fallen, sales have slid, developers have gone bust and buyers have staged an unprecedented and widening mortgage boycott in protest at having paid largely upfront for homes that have not been finished.

      The market is experiencing a total collapse in confidence, analysts say, and only government intervention can save the day.

      About 2m off-plan homes remain unfinished across China, according to a rough estimate by S&P. That figure will grow if sales continue to fall and developers continue to run out of money to complete projects.

      “China’s property downturn has turned into a crisis of confidence that only the government can fix,” S&P said. “If falling sales tip more developers into distressed territory, things will get worse. The distressed firms will halt construction on more pre-sold homes, hitting buyers’ confidence further. Our rough estimate is that about 2m unfinished homes presold by Chinese developers are now in limbo. This has shattered confidence in this market.”
      …
      https://www.theguardian.com/business/2022/sep/25/china-property-bubble-evergrande-group

    2. China Economy
      Why China won’t bail out its real estate sector
      Published Mon, Oct 24 2022 10:34 PM EDT
      Updated Mon, Oct 24 2022 11:22 PM EDT
      Evelyn Cheng

      Key Points
      – China’s central government won’t likely be spending billions to save the struggling real estate sector, analysts said.
      – “I doubt there will be direct bailouts of property developers by the government, even though they may continue to ask banks and [state-owned enterprises] to help selected troubled developers,” said Tommy Wu, senior China economist at Commerzbank.
      – Analysts also noted how the zero-Covid policy’s drag on the economy was weighing on the property market.
      …
      https://www.cnbc.com/2022/10/25/china-property-why-beijing-wont-bail-out-its-real-estate-sector.html

    3. China
      China’s super-rich see fortunes plunge as economy slows
      The Hurun Rich list shows the Russia-Ukraine war and Beijing’s zero-Covid measures seriously affecting China’s most wealthy
      Alibaba Group executive chairman Jack Ma preparing to deliver a speech
      Reuters
      Mon 7 Nov 2022 23.00 EST
      Last modified on Tue 8 Nov 2022 12.24 EST

      China’s super-rich saw their wealth fall by the largest amount in over two decades, as the Russia-Ukraine war, Beijing’s zero-Covid measures and falling local stock markets pummelled fortunes, an annual rich list showed.

      The Hurun Rich list, which ranks China’s wealthiest people with a minimum net worth of 5 billion yuan ($690m), said only 1,305 people made the threshold this year, down 11% from last year. Their total wealth was $3.5tn, down 18% from last year.

      The number of individuals with $10bn or more fell by 29, and the number of billionaires, in US dollars, dropped by 239 this year, according to the list.

      “This year has seen the biggest fall in the Hurun China Rich List of the last 24 years,” said Rupert Hoogewerf, chairman and chief researcher of Hurun Report which compiles the list.
      …
      https://www.theguardian.com/world/2022/nov/08/hurun-rich-list-china-super-rich-see-fortunes-plunge-as-economy-slows

    4. I have a strong feeling that SF is on the same path that Detroit took. It will take many years for it to become apparent to most people but the process is well under way. There is a point where no one wants the mansions at any price.

  36. “Florida Governor Ron DeSantis (R) blocked Attorney General Merrick Garland’s election monitors from entering polling locations.

    Biden’s corrupt Justice Department this week deployed federal goons to harass poll workers in 64 key battleground precincts in 24 states.

    DeSantis pushed back and told the feds they are not welcome in Miami-Dade, Broward and Palm Beach Counties.

    “Earlier today, the Florida Department of State received copies of your letters to Miami-Dade and Broward Counties in which you seem to indicate that the Department of Justice will send monitors inside polling places in these counties,” the DeSantis Administration wrote in a letter to John Russ, Deputy Chief & Elections Coordinator.”

    https://www.thegatewaypundit.com/2022/11/florida-governor-ron-desantis-blocks-ag-garlands-election-monitors-entering-polling-locations/

    Merrick Garland is a Marxist globalist terrorist.

    1. The Financial Times
      FTX Trading Ltd
      FTX on brink of collapse after ‘liquidity crunch’ at crypto exchange
      Binance steps in with deal to rescue arch-rival after surge in withdrawals at Sam Bankman-Fried’s digital asset platform
      Sam Bankman-Fried wrote on Twitter on Tuesday: ‘[Changpeng Zhao] has done, and will continue to do, an incredible job of building out the global crypto ecosystem, and creating a freer economic world’
      Joshua Oliver, Scott Chipolina and Nikou Asgari in London an hour ago

      The digital assets industry has been shaken by the near-collapse of Sam Bankman-Fried’s FTX, one of the largest crypto exchanges, which clinched a rescue deal with arch-rival Binance after a surge in customer withdrawals sparked a liquidity crisis.

      Binance chief executive Changpeng “CZ” Zhao wrote on Twitter that FTX had “asked for our help”, adding: “There is a significant liquidity crunch.” Binance has signed a letter of intent to buy FTX, but said it had “the discretion to pull out from the deal at any time”.

      The bailout of one of the biggest and most prominent companies in the global cryptocurrency industry by its chief competitor reverberated across the market. Bitcoin, the most actively traded token, fell as much as 17 per cent while smaller coins faced steeper falls. US-listed crypto exchange Coinbase dropped about 14 per cent.

      FTX hit a valuation of $32bn at the start of this year, with blue-chip investors including BlackRock, Canada’s Ontario Teachers’ Pension Plan and SoftBank backing the company. In an industry that has been called the “wild west” by Wall Street’s top regulator, FTX was widely considered to be one of the better-managed players, with its founder Bankman-Fried regularly lobbying lawmakers in Washington.

      Known as SBF and noted for his unofficial uniform of shorts and T-shirt, Bankman-Fried had a paper fortune of an estimated $24bn only six months ago. He is among the best known crypto executives, often appearing at conferences where he has interviewed the likes of Bill Clinton and Tony Blair.

      The deal with Binance ends an explosive and very public row between Bankman-Fried and Zhao and will combine two of the world’s biggest crypto exchanges.

      FTX’s troubles accelerated over the weekend when Binance said it intended to offload its holdings of FTX’s token FTT, citing concerns over the exchange’s financial stability and sending the token plunging in price.

      Bankman-Fried responded on Monday, saying a “competitor is trying to go after us with false rumours”. He added he would “love it” if he could work with Zhao “together for the ecosystem”.

      The FTX chief also tried to calm markets by saying: “FTX is fine. Assets are fine.”
      …

    2. Markets
      CNBC TV
      Watchlist
      Bitcoin/USD Coin Metrics
      RT Quote | USD
      Last | 5:03 PM EST
      18,653.44 quote
      price arrow down
      -2,176.86 (-10.45%)

      1. They will be back up. The so called market is convinced that inflation is over and pivot is a certainty. Like stonks, crytos will see record highs by Xmas ’22.

    3. I meant to ask how cryptocurrencies were HODLing up in the face of Quantitative Tightening. Thanks for the update!

  38. Ever notice how the Democrat-Bolsheviks fight tooth and nail against any and all measures that would ensure the integrity of our elections?

    Here we go again! Midterms voting ALREADY seeing problems that could delay results with 20% of machines malfunctioning in Arizona’s largest county, voters scrambling to fix ballots in Pennsylvania and systems going down in New Jersey

    https://www.dailymail.co.uk/news/article-11404359/MIDTERMS-2022-Voting-problems-reported-Arizona-Pennsylvania.html

  39. This seems like fitting musical accompaniment as the central bankers’ asset bubbles and Ponzi markets start to implode. A bit lighter than the “Nearer My God to Me” the band on the Titanic played as she slipped beneath the waves.

    Men Without Hats – Pop Goes The World (Official Video)

    https://www.youtube.com/watch?v=3zUUtf7gOe8

  42. The sea was angry today my friends. Like a liberal being laughed at after saying Joe Biden received 81 million votes in the 2020 election.

  45. Framingham, MA Housing Prices Crater 25% YOY As Boston Housing Market Staggers On Rampant Appraisal Fraud

    https://www.movoto.com/ma/01701/market-trends/

    As one Boston broker lamented, “How can we possibly sell a resale house when builders are selling new houses on the same street for 20% and sometimes 30% less?”

  46. More stolen elections in 2022, just like in 2020.

    The 2020 election was stolen. In 2022 we are taking America back from you globalists.

    This isn’t your country, and you don’t belong here.

  47. The 2022 midterm elections will be a referendum on the current President, Joe Biden, and his predecessor, Donald J. Trump—and represent a profound test for American democracy. Thirty-three Senate seats, thirty-six governors’ mansions, and all four hundred and thirty-five House of Representatives seats will be contested on November 8th, with potentially enormous consequences for the Presidential election in 2024.

    Although President Biden isn’t on the ballot this year, Americans’ judgment of his first two years in office—when he faced a pandemic, the highest inflation in decades, and deep divisions within his own party—will be reflected in the results. Democrats have touted the creation of ten million jobs, Biden’s response to Russia’s invasion of Ukraine, the passage of significant climate legislation, support for unions, prescription-drug-price reductions, and the forgiveness of some student-loan debt as the Administration’s accomplishments. Biden and his party have also made defending abortion rights a cornerstone of their campaign in the months since the Supreme Court voted to overturn Roe v. Wade, in June. Fearing an energized Democratic base and the loss of potential support from suburban women and independents, some Republican leaders sought to distance themselves from the Court’s decision, even though the Party had made the reversal of Roe a linchpin of its platform for decades.

    Within the Republican Party, the midterms will provide the latest evidence of Trump’s potential strength if he runs for President in 2024 and whether he is succeeding in his ongoing effort to undermine trust in elections. During the G.O.P. primaries, Trump-backed, far-right candidates who endorse Trump’s false claim that the 2020 election was stolen generally beat moderate Republican leaders, such as Representative Liz Cheney, of Wyoming. This year’s election could decide the direction of the Party for years to come, experts say, and could end the tradition of candidates accepting the results of elections and conceding defeat. If Trump-backed candidates win state offices that certify election results, Trump and his supporters could control the counting of votes in the 2024 Presidential election in key battleground states that Trump lost in 2020. On the eve of the voting, it appeared that Republican election deniers in Arizona, for example, could be elected.

    https://www.newyorker.com/news/midterm-election-2022/live-results-map-senate-house-governors-races

    1. We know what happened 2 years ago. I’m optimistic and Trump is still President but I’m just gonna STFU until tomorrow.

Comments are closed.