thehousingbubble@gmail.com
Blog

The Craziness Will Go Down In History As A Once-In-A-Generation Boom That Was Not Sustainable

It’s Friday desk clearing time for this blogger. “In June 2021, when the cryptocurrency markets were soaring, the developers of the Arte condominium in Miami’s Surfside neighborhood announced that a buyer had purchased a penthouse there for $22.5 million in cryptocurrency. The deal was heralded as evidence that cryptocurrency would eventually become commonplace in the real-estate world. Now that same buyer has resold at a loss for $18 million. The deal closed for cash this time, said Danny Hertzberg of Coldwell Banker Realty, one of the listing agents. The unit was listed for $28 million in September 2021 and its price was lowered several times. It was most recently asking $19.9 million.”

“Not surprising to many, that interest rate jump has resulted in a real estate market cool-down that has given buyers an upper hand they didn’t have when interest rates were so low, said Realtor Else Siebert. She sold a home recently in Sudbury to first-time homebuyers who didn’t want to waive a home inspection. She said buyers are taking advantage of the fact they don’t necessarily have to pay over asking price. ‘Buyers are making offers on homes that have been sitting on the market for a few weeks and they’re able to capitalize on this ‘normal’ market and secure a home, under list price. That was unheard of for the past few years,’ said Siebert.”

“One Utah home builder is trying something new to attract buyers . Fieldstone Homes, based in Draper, has just launched new options in several communities for buyers to add accessory dwelling units to their homes – basically, a basement apartment. The builder is already currently offering free finished basements, said vice president of marketing Kellie Little. For a little extra, she said, buyers can expand that to a full apartment that they can rent out for extra income. The options are available in Fieldstone communities in Clearfield, Eagle Mountain, and Saratoga Springs, but Little said more areas may open up in the future. ‘They can use income to help qualify for a loan,’ she said.”

“Prices for newly-constructed homes are starting to flatten in Houston as homebuilders contend with a drop in demand and rising inventories. ‘Builders are trying to prevent having to lower their prices any more than necessary, so the way they are doing that is saying, ‘I won’t cut the price, but I’ll give you, say $10,000 to $20,000 in closing costs or free upgrades,’ Ben Caballero, CEO of HomesUSA, said. ‘Builders are throwing money at incentives and bonuses at agents in an effort to stimulate sales.'”

“Georgetown saw little change in the median price of homes between October and November with it decreasing by 0.15%, according to data from the Austin Board of Realtors. The median cost of homes sold in Georgetown during November was $475,000, down $720 from the previous month, as prices have fallen sharply since the summer when they reached $550,000 in June.”

“As the end of the year nears, the Southern Maryland housing market has seen several significant changes. The average sold price to original list price ratio has decreased by approximately 2.16% from last year, showing buyers are gaining some leverage during transactions. Homes are starting to sell for less than they are listed. Active listings are up 62.17% from last year. Calvert County saw its first price decrease in several years. ‘Home prices are expected to drop from their peak despite inventory challenges, and possible home buyers will feel those impacts heading into 2023 if they haven’t already,’ SMAR 2022-2023 President Michael Funk said.”

“The sale of existing homes in the U.S. continues to slide, and California has seen some of the largest declines in the nation. ‘With home prices cooling and market competition easing in recent months, some qualified buyers who missed out on the hurried market of the last two years are taking advantage of the shift and finding sellers more willing to negotiate than they have been up to this point,’ said CAR President Jennifer Branchini.”

“Home sales fell 35.1% year over year in November on a seasonally-adjusted basis, according to Redfin. That is the largest decline in Redfin’s records that date back to 2012. Pandemic boomtown Las Vegas saw the biggest drop in home sales, down 51.8% year over year in November. Next came San Jose, CA (-50.1%), Salt Lake City (-49.9%), Stockton, CA (-49.8%) and Oxnard, CA (-48.7%). Eleven metros saw year-over-year declines in median sale prices, with San Francisco leading the drop (-11.1%). It was followed by San Jose, Detroit, Pittsburgh and Boise, ID, all down between 2% and 3%.”

“Pandemic boomtowns North Port, FL and Tampa led the increase in the number of homes for sale, with active listings rising 61.3% and 46.1%, respectively. Next came Nashville, TN (45.1%), New Orleans, LA (40.2%) and Seattle (39.2%).”

“Commercial real estate in Chicago rode a wave of ups and downs in 2022. The downtown office market continued to falter and distress spread, major corporations announced plans to move elsewhere, and perceptions of crime and high taxes disincentivized new growth in the eyes of many CRE players. Already, some buildings have been taken over by lenders and more could soon follow. ‘It’ll be interesting to see what happens with the foreclosure market …  because you’ve got so many office tenants that are not renewing their leases, and the big vacancies, they’re not going to be able to pay the mortgages,’ said Gloria Materre, managing director of EnTrust Realty Advisors.”

“The better option might be to just tear down some vacant buildings, according to Peak Properties Managing Partner Mike Zucker. ‘The reality is that if people aren’t going back to the office, maybe some old office buildings should really just come down,’ Zucker said.”

“Trying to interpret Portland’s status from the year’s most-read news stories is like reading a fortune in chicken entrails. Sometimes you see the future. Sometimes you just see shit. The death and partial resurrection of Lloyd Center gets all the press, but Portland has another zombie mall in more dire condition 5 miles east. WW broke the news that the Portland Hilton and Duniway and Dossier hotels were all in foreclosure proceedings—a bellwether of what reduced tourism could mean for downtown properties.”

“Those looking to buy a home in 2023 and homeowners with a high mortgage can expect a ‘challenging year’ in Mississauga and Brampton. Sam McDadi, owner of the largest real estate brokerage in Mississauga said they are now seeing homes being sold through power of sale (when a mortgage lender sells the home due to a default in payments) for big losses. One home in Brampton, for example, was bought during the height of the market, at the beginning of 2022, for $2.65 million and it sold through a power of sale for $1.85 million, McDadi said.”

“‘So $800,000 less in just within the span of six to eight months,’ he said. ‘Now that’s probably one of the more exaggerated sales, but it just tells you that people are in a bit of dire straits.’ Homes in more affluent neighbourhoods in south Mississauga saw prices drop about 10 per cent and north Mississauga came down by about 20 per cent this year, he said. And because interest rates are so high, it is nearly impossible for an average person to get a mortgage for a GTA home. Most homes in Brampton and Mississauga are around $1 million but a person or couple needs to make $250,000 to $300,000 a year to get that size of a mortgage. The mortgage stress test adds another two per cent on interest rates so people need to qualify for around eight per cent interest.”

“This time last year, Australia’s property market was closing out on a massive high. The pandemic property boom was in full swing, appearing inexplicably unstoppable as Australians fell over themselves to pour a seemingly endless stream of money into real estate. Sydney’s house prices rose by $1100 a day. Just to repeat: $1100 a day. But the saying ‘nothing lasts forever’ was not coined from fiction. A property cycle is exactly that – a cycle – and while the craziness of 2021 will go down in history as a once-in-a-generation property boom (which, by the way, continued well into 2022 in five of the eight capital cities), that pace of growth was not sustainable.”

“By the September quarter, house prices were falling in every capital city bar Adelaide, where prices flattened. Nationally, house prices have now fallen 4.9 per cent from the March 2022 price peak, down about $53,000. ‘The past two years have been fascinating to watch in real estate. After soaring price growth in 2021, it was inevitable that we would see an adjustment phase of the property cycle in 2022,’ says Domain’s chief of research and economics, Dr Nicola Powell. ‘This year, the market saw a stark contrast with house prices across the combined capital cities switching to their fastest quarterly decline on record.'”

“House prices at the cheaper end of the market have fallen more this year than prices for homes at the upper end have, Quotable Value (QV) says. Lower-end prices across the main urban centres were down by 11.7% from January to November. In contrast, prices at the upper end of the market declined by 8.6% over the same period, while the average national price fell by 10.2% to $945,568. The Wellington region has been hit the hardest by the market downturn, and four of its districts were in QV’s top five biggest lower-end price drops.”

“Prices for lower-end properties in Upper Hutt declined the most, down 23.5% to an average of $544,159. In Lower Hutt and Porirua, the entry-level price falls were not far behind, with drops of 23.3% and 19.1% to averages of $547,292 and $591,014 respectively. The top five was rounded out by central Auckland and Wellington where lower-end prices were down 18.8% to averages of $500,801 and $568,589. Papakura and the North Shore in Auckland, Dunedin, Palmerston North and Hastings made the top 10, with prices at entry-level down by over 13.5% in all of them.”

“QV spokesperson Simon Petersen said these price falls were good news for first-home buyers, and had restored some credibility to the market after the unsustainable capital gains of 2020 to 2021. Prices were still above pre-pandemic levels after climbing almost 30% last year alone, and the threat of a recession and further interest rate rises as forecast by the Reserve Bank last month was bad news, he said. ‘When interest rates hit the roof, house prices are really going to hit the floor, and then there’s the growing likelihood of a recession.'”

Related Posts
This Post Has 150 Comments

    1. American Greatness — Traitors (12/22/2022):

      “A picture, they say, is worth a thousand words. But there are only a few profane words to describe the obscene scene as the two women closest in line for the presidency hoisted the Ukrainian flag from the dias of the House of Representatives while swooning over Ukrainian President Volodymyr Zelenskyy as Congress cheered on December 21. (This appears to be the first time in history the flag of another nation essentially flew inside the U.S. Capitol building.) 

      “They asked me to bring this flag to you, to the U.S. Congress, to members of the House of Representatives and senators whose decisions can save millions of people,” Zelenskyy said before handing the flag to House Speaker Nancy Pelosi and Vice President Kamala Harris. “This flag is a symbol of our victory in this war.”

      Zelenskyy’s address to a joint session of Congress—his second this year—symbolizes how the regime is actively working against the interests of the American people. While Americans struggle to pay for gas, Zelenskyy traveled to Washington in a U.S. Air Force plane accompanied by an F-15 fighter jet. Government officials literally rolled out the red carpet for Zelenskyy when he landed before he enjoyed a full-blown motorcade to the White House.

      As Zelenskyy entered the House chambers Wednesday night, his lapdog benefactors in Congress rose to their feet, wildly applauding and reaching out to touch him, mouths agape as if a rock star was in their presence. But real groupies have more dignity. It was a disgusting display all around; Zelenskyy, always in character, couldn’t even manage to wear a proper suit.

      His attire, of course, didn’t matter as long as his costume had lots of pockets. Zelenskyy is set to receive $47 billion more in U.S. tax dollars when those same slobbering lawmakers pass a $1.7 trillion government spending bill this month—bringing Zelenskyy’s total grab to $100 billion and counting.”

      https://amgreatness.com/2022/12/22/traitors/

      And a message from Ted Nugent (warning — language):

      https://gab.com/slayer454/posts/109562144186775311

  2. ‘the developers of the Arte condominium in Miami’s Surfside neighborhood announced that a buyer had purchased a penthouse there for $22.5 million in cryptocurrency. The deal was heralded as evidence that cryptocurrency would eventually become commonplace in the real-estate world. Now that same buyer has resold at a loss for $18 million. The deal closed for cash this time’

    It’s possible the seller and the buyer got hosed if the seller held onto those imaginary beanie babies.

        1. Unless the guy is named Rockerfeller or Getty, he started with $5000 in crypto and doge coined and shiba inu’d it to $20 million. Then, unlike almost every crypto bro, he cashed it in and bought something tangible.

    2. Wait. Did the buyer pay the developer in crypto or did he convert crypto to dollars and then bought? In either case the buyer has a loss, however, me thinks if the developer was paid in crypto and did not cash the crypto until mid of 2022, then the developer’s net profit took a beating

  3. ‘The better option might be to just tear down some vacant buildings…‘The reality is that if people aren’t going back to the office, maybe some old office buildings should really just come down’

    Yer not over built Mike, yer under demolished! Good luck with yer communism.

  4. ‘Eleven metros saw year-over-year declines in median sale prices, with San Francisco leading the drop (-11.1%). It was followed by San Jose, Detroit, Pittsburgh and Boise, ID, all down between 2% and 3%’

    The list of sh$tholes rolling over YOY is growing. Bay aryans now bigger losers than Detroit!

  5. The builder is already currently offering free finished basements‘They can use income to help qualify for a loan,’

    They tried this years ago in K-da Kellie.

    ‘The options are available in…Clearfield, Eagle Mountain’

    Never heard of em.

  6. ‘One home in Brampton, for example, was bought during the height of the market, at the beginning of 2022, for $2.65 million and it sold through a power of sale for $1.85 million’

    ‘So $800,000 less in just within the span of six to eight months’

    That’s the spirit Sam, keep em coming!

    1. “So $800,000 less in just within the span of six to eight months,” he said.

      Looks like buyer caught a falling knife and didn’t make any payments.

      1. Prices are definitely coming down fast in these burbs.

        However, (and just my speculation), is that seller #1 was doing some maple-syrup wash on foreign funds (i.e. money laundering) and that the buyer was a dummy buyer that was willing to go bankrupt.

        In any case the incompetent mortgage holder has a serious loss.

        1. the buyer was a dummy buyer that was willing to go bankrupt

          This was only possible because all countries decided to not only allow, but encourage and attract, money launderers to shower them with their ill-gotten gains. The entire world decided to look the other way regarding financial fraud. Really sickening stuff.

    2. ‘bought during the height of the market, at the beginning of 2022, for $2.65 million and it sold through a power of sale for $1.85 million’

      I’d bet 5 pesos this was a strategic default/jingle mail situation.

  7. Is it ok to respond to In Colorado here since no one really reads the last day’s posts?

    “until Florida can deal with not getting Social Security

    Then those people move back to wherever they came from, assuming that social security still exists in the “union”.”

    Most of those people won’t go anywhere. They are too busy proclaiming that we “need” them and that they are “more conservative” than we are.

    1. Previous post carryover is absolutely allowed. 👍

      Take for example, this post from yesterday:
      ———–
      Redpilled Redhead
      December 22, 2022 at 3:01 pm
      @oxide and $TSLAQ latecomers,

      “Linette Lopez @ Business Insider Elon’s stale playbook
      At Tesla and SpaceX, Elon Musk was a jerk with a grand vision. At Twitter, he’s just a jerk.”
      ————–

      Yeah OK. Twitter is in flux right now, but I think they’ll come out of this all right once things settle down. Tesla’s future was always dicey depending on market conditions, with or without Elon. Space-X (including Starlink?) seems self-sufficient at the moment. Not sure about Neurolink or the Boring Company, but they seem pretty small.

      Personally I don’t think he’ll be able to hold them all. At least one will fail. It’s always fun to speculate. If Elon had to give up all of his other companies to save one of his companies, which one would he choose? Which does he want to do the most: electrify the world, Occupy Mars, or save free speech?

      (my vote is for Occupying Mars)

      2. Thanks for the tip!

        Also, I personally don’t trust Musk.
        I appreciate what he’s doing with Twitter, but something about him gives me pause.

        1. If you’re not using the Joshua Tree Extension, it makes carrying on threads in older posts easier….you’ll notice a trend of the same folks (who use the JT) keeping up conversations in previous days comments

  8. ‘like reading a fortune in chicken entrails. Sometimes you see the future. Sometimes you just see shit’

    You mean like a pedestrian in Portland, Seattle, any major California sh$thole?

  11. Now that same buyer has resold at a loss for $18 million.

    $4.5 million in Yellen Bux “value” flew off to debauched currency heaven in this single transaction. When the Fed’s Everything Bubble implodes for real, the wipeout of fake “wealth” created by fake money is going to be downright Biblical. Got popcorn?

  12. For a little extra, she said, buyers can expand that to a full apartment that they can rent out for extra income.

    My childhood dream of residing in a basement apartment is moving closer to fruition. Thank you, Jerome Powell, Yellen the Felon, & Brandon!!

  13. ‘Builders are throwing money at incentives and bonuses at agents in an effort to stimulate sales.’”

    Awful kind of you, but Ima gonna sit tight in my comfy reasonable rental shack and wait for the foreclosure auctions, thank you very much.

  14. “Home sales fell 35.1% year over year in November on a seasonally-adjusted basis, according to Redfin.

    Is that a lot?

  15. The downtown office market continued to falter and distress spread, major corporations announced plans to move elsewhere, and perceptions of crime and high taxes disincentivized new growth in the eyes of many CRE players.

    “Perceptions” of crime and high taxes? Stop lying, Real Journalists (D) for globalist propaganda outlets. Perception and quantifiable reality are two very different things.

  16. The death and partial resurrection of Lloyd Center gets all the press, but Portland has another zombie mall in more dire condition 5 miles east.

    Until malls & hotels can ban vibrants and other troublemakers, the downward spiral will continue.

      2. I can’t stand the old ba$tard….but I’m pretty sure this stupid stuff went on before Biden. I think I’ve been to golden corral one time in my life….it is also the only time I felt like I was much smarter than everyone in the place. Lol.

      3. Re-post from the last thread, the chair throwing starts at a minute into the video

        Where was this? Chigetto? Killadelphia?

      4. While in the middle of something just like this, I thought for a second – “Wow, just like in the movies 😯 “

  18. The top five was rounded out by central Auckland and Wellington where lower-end prices were down 18.8% to averages of $500,801 and $568,589.

    Watching the sheeple who elected globalist Quisling regimes in Australia and New Zealand reap what they voted is going to be schadenfreude at its finest & most delectable.

    1. They will blame their pain on:

      -Bad luck
      -Climate change
      -Private enterprise
      -China
      – The USA

      They will happily re-elect the quislings who rule over them with an iron fist, believing that if they stay the course that it will eventually work and their tyrants will usher in paradise.

  21. “…a buyer had purchased a penthouse there for $22.5 million in cryptocurrency. The deal was heralded as evidence that cryptocurrency would eventually become commonplace in the real-estate world. Now that same buyer has resold at a loss for $18 million.”

    So, in actuality, that person realized $18 million in real money after spending $22.5 million in Monopoly money. Well done!

      1. Just wait until people show up at the New York Stock Exchange and try to take delivery!!!

        What’s the famous line?

        “TURN THE MACHINES BACK ON!!!”

        da bear

    1. “On February 17, 2022, forty-five-day-old Baby Alex died of a clot so long it extended from his left knee to his heart.

      That was twenty-four days after staff at Providence Sacred Heart Children’s Hospital in Spokane, Washington, had administered a transfusion using blood from vaccinated donors—explicitly against the parents’ wishes.”

      100% safe and effective.

      From Wikipedia:

      “Josef Rudolf Mengele; 16 March 1911 – 7 February 1979), also known as the Angel of Death, was a German Schutzstaffel (SS) officer and physician during World War II. He is mainly remembered for his actions at the Auschwitz II (Birkenau) concentration camp, where he performed deadly experiments on prisoners, was a member of the team of doctors who selected victims to be killed in the gas chambers, and was one of the doctors who administered the gas.”

  23. A reader sent these in:

    Tesla is a case study in collapsing social mood. The stock peaked a year ago with the cult of Elon Musk. It made a lower high mid-2022. And then a bounce in November. Each bounce shorter and smaller than the last. -$800 billion in market cap = 25 FTX crypto Ponzi schemes.

    https://twitter.com/SuburbanDrone/status/1606087104907202560

    Years ago, I remember seller-financed mortgages as a popular thing, and I suppose they will be again. https://reddit.com/r/REBubble/com

    https://twitter.com/RudyHavenstein/status/1605961217368985600

    Nuclear Winter sets in…

    https://twitter.com/RudyHavenstein/status/1605998583093739520

    Nasma Ali

    Haven’t had anyone reach out to me in a long time asking to “pick my brain about being a realtor” I used to be asked at least once weekly
    BoC working against Humber & Reco dollars trying to pump ads out to encourage ppl to be realtors so they can get more $

    https://twitter.com/nasmadotali/status/1605957975914401794

    So, what does the Fed see causing the fund’s rate to stay at 5.125% next year? Start with the labor market. The simple truth is the jobs market is NOT weakening. And the Fed is not changing unless it shows UNMISTAKABLE signs of weakening. Initial claims are NOT rising.

    https://twitter.com/biancoresearch/status/1604582602056388608

    I have been informed that the photo on the left was photoshopped. The real photo is on the right side. Sorry for any misinformation that I may have tweeted earlier.

    https://twitter.com/WallStreetSilv/status/1606024582237802496

    Valerie M Brown | Your Las Vegas Realtor

    The ugly side of a down market. This is what we see, cause and effect. An absolutely hyped mania market has a downside. It seems we may never learn.

    https://twitter.com/valeriebrownre/status/1606022322321625088

    Danielle DiMartino Booth

    Every Fed pivot since Greenspan’s first Oct 20, 1987 has given birth to zombies & put one more nail in capitalism’s coffin. Ultra-low easy monetary policy that wrenches open capital markets to keep zombies alive kills long term job creation & only serves to enrich the top 1%.

    https://twitter.com/DiMartinoBooth/status/1606031555284959233

    “Canada’s housing market has been in a downturn this year, with November figures from the Canadian Real Estate Association suggesting that the average selling price of a typical home is down 12% from levels one year ago…”

    https://twitter.com/GoldTelegraph_/status/1606064766979448832

    This line of thinking is actually at the very core of the economic clusterf*ck that’s about to unfold. A whole generation that does not understand that interest rates are what regulates, at the margin, the fine balance between consumption and investments. And this what f*cked us

    https://twitter.com/INArteCarloDoss/status/1605870523992477696

    CarDealershipGuy

    Imagine you’re a 750+ credit score. Now imagine you come to buy a car and I offer you 9% APR 🤢 I don’t need to say much more. High rates are killing the car business right now.

    https://twitter.com/GuyDealership/status/1605760500574429186

    CarDealershipGuy

    Super interesting chart showing average used car loan rates by state. TIL: Mississippi leads the nation with a 12.28% average rate.

    https://twitter.com/GuyDealership/status/1606049085861072898

    Tiff had 2% inflation and said it was transitory—an optical illusion. He needed it to hit 7% before he realized it wasn’t 2%. You should totally trust this guy & his sh*tcoin. 🙄😂

    https://twitter.com/StephenPunwasi/status/1605923832249843717

    National Mortgage News

    Numbers that show just how much the #mortgage market has changed from 2021: refinances made up only 31.3% of volume, down from 65.2% this time last year, while ARMs accounted for 7.5% compared to 3.4%.

    https://twitter.com/NatMortgageNews/status/1605926728819277825

    Home Sales Collapsed 35% in November, the Biggest Decline on Record – Redfin

    https://twitter.com/DonMiami3/status/1605952131676049409

    HousingWire

    On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst.

    https://twitter.com/HousingWire/status/1605948299458002947

    Just so I understand, we should feel bad for the people who outbid other families on homes they couldn’t afford in the first place. Am I doing this right?

    https://twitter.com/GRomePow/status/1605953003067801600

    But FED was OK when they were pumping $129B a month while keeping the rates at zero when unemployment was all time low and bubble was already beyond comprehension… Right?
    Quote Tweet
    Elon Musk
    At the risk of being repetitive, these Fed rate increases might go down in history as most damaging ever

    https://twitter.com/xtrends/status/1605989171583016960

    Let that sink in…Tesla shares are getting butchered today. Minus 10% and dropping.

    https://twitter.com/Tendar/status/1605990449503576064

    Cathie Wood’s $ARKK has erased all its gains over the last 5 years

    https://twitter.com/GRDecter/status/1605988917395673088

    SBF is being released with a $250 million bail bond. … did the government let him use assets they’re alleging were obtained via fraud and money laundering to secure his bail? Because that’s hilarious.

    https://twitter.com/StephenPunwasi/status/1605996851492175886

    The Kobeissi Letter

    SBF 2 Weeks Ago: “I only have $100,000 to my name” SBF Today: Posts $250 million bail

    https://twitter.com/KobeissiLetter/status/1605999502862602240

    The answer is in Alessio’s tweet: ‘fiscal spending’. Govs are trying to prevent the crisis with fiscal, thereby keeping the econ buyoant just enough to keep it in stagflation, but not outright recession.

    https://twitter.com/drsparwaga/status/1605961172531826690

    The sheep begin to realize

    https://twitter.com/AlessioUrban/status/1605703493343477761

    stagflation will be the worst nightmare for everyone..because people don’t know how to invest during a scenario like this. bonds will collapse.

    https://twitter.com/AlessioUrban/status/1605892674208366592

    real driver in many markets though is the investor demand which didn’t even exist prior to 2010 now makes up close to 40% in some markets. That includes long term and short term rentals from major funds as well as Airbnb and flippers. It’s that demand that fed is trying to curb

    https://twitter.com/cantstopstupid1/status/1605598081491169280

    So you want to be a Multifamily Landlord: 50% of your apts. will turn over every year and will be vacant for ~45 days. You’ll lose 6.25% of potential revenue every year because of “turn over vacancy.”

    https://twitter.com/Cribdilla/status/1605590170417254400

    Ali Wolf

    76% of builders anticipate home prices will be lower in 2023 compared to 2022

    https://twitter.com/AliWolfEcon/status/1605620013028630528

    Liz Ann Sonders

    Number of multifamily housing units under construction has risen to highest since December 1973

    https://twitter.com/LizAnnSonders/status/1605536298550394880

    780k lost in 8 month! This is the worst “loosing” seller I have seen in 2022 in percentage wise. The previous owner had lost whopping 780k or 40% down! Nightmare! RE only goes up in one direction!

    https://twitter.com/himansh36013599/status/1605575938154061825

    Ben Rabidoux

    Housing bottom?

    https://twitter.com/BenRabidoux/status/1605342526801592320

    The dollar looks ripe for a rip into 2023. $DXY

    https://twitter.com/DylanLeClair_/status/1605668944462770176

    This year’s bear market hasn’t even erased the gains from 2021. If stocks are worth more now than they were when rates were zero, a stimmy-fuelled economy ruled and corporate profits had strong growth ahead, what does that imply? 🤔

    https://twitter.com/ecommerceshares/status/1605690285924589569

    Zelensky spotted outside Walmart

    https://twitter.com/eliant_capital/status/1605700740197908482

    Since @elonmusk said $TSLA would be worth more then $AAPL & Saudi Aramco, the stock is down 40%. In all honesty, the stock is worth $50 imo.

    https://twitter.com/eliant_capital/status/1605713651670859776

    $TSLA Ponzi victims are beginning to wonder when was the moment that they should’ve known to get out. One more than many others comes to mind.

    https://twitter.com/anthonypesec/status/1605419977615364096

    Every Dad needs one of these for Christmas 🎅 🎁

    https://twitter.com/WallStreetSilv/status/1605727337647165444

    6.1%!!

    My mtg rate that started at 2.1% in Feb 2021 is now 6.1%
    My mtg pmt which started at $2694 is now $4254
    A whopping 59% or $1560 monthly increase in < a year! Who can sustain this type of assault? Especially the majority of investors who started with 2-3% cap rates https://twitter.com/ac_eco/status/1605258549881446401 Lance Lambert Among the nation's 400 largest housing markets, 36 are above pre-pandemic inventory levels. Let's take a look. https://twitter.com/NewsLambert/status/1605714696627056641 The US Housing Market Index (measure of homebuilder confidence) fell for the 12th consecutive month to its lowest level since April 2020. Before April 2020 (which was a short-lived decline during the pandemic shutdowns), this is the lowest since June 2012. https://twitter.com/charliebilello/status/1605202355733110787 US Existing Home Sales fell for the 10th consecutive month, down 35% over the last year. This is the largest YoY decline on record w/ data going back to 1999. Following the same pattern as last housing bubble: Affordability collapses -> Sales plummet -> Prices decline…

    https://twitter.com/charliebilello/status/1605600719892992008

    The median price of an existing home sold in the US has now fallen 10% from its peak in June, the largest 5-month % decline since Aug ’10 – Jan ’11. After the last housing bubble peaked, prices fell 33%. The same decline today would only bring prices back to Feb 2020 levels.

    https://twitter.com/charliebilello/status/1605603469485871104

    Just got off the phone w/ a long established private lender I have known for 20 yrs. “2023 is going to be VERY tough for RE”. I will leave it at that, I don’t want to depress people any more.

    https://twitter.com/FinEconGlobal/status/1605620960874229761

    CarDealershipGuy

    $2,800 monthly payment 🥴

    https://twitter.com/GuyDealership/status/1605567994934878208

    The “Strong” US Consumer is on borrowed time

    https://twitter.com/texasrunnerDFW/status/1605590479529136131

    Existing homes sales falls further to ~4 million

    https://twitter.com/DonMiami3/status/1605591330121347076

    -35% YoY, and we likely have a long way to go. This is going to get VERY ugly!

    https://twitter.com/TheBondFreak/status/1605599038815866886

    Supply is only low for the existing market. It’s very high for the new home market. New home months supply is a better leading indicator of future home price growth, which is why home prices are falling with a total months supply <5.

    https://twitter.com/EPBResearch/status/1605592811268513794

    Ryan Lundquist
    @SacAppraiser
    Here’s a projection for December sales in Sacramento County. Unless a burst of sales happen, this will be the worst December in 20+ years. Not a shocker in light of affordability issues. The truth is volume will get better as affordability improves.

    https://twitter.com/SacAppraiser/status/1605601499752472576

    Totally agree!!! Why is “6 months” a magic number for house price stability? I have seen zero statistically valid evidence of that.

    https://twitter.com/trader_mtg/status/1605588402916667392

    Rick Palacios Jr.

    US median resale home price now down -10% from June peak through November. Mix-shift makes median a noisy data point, but clearly home prices are falling despite ‘just’ 3.3 months of supply. The rule of thumb that ‘6 months = equilibrium’ needs some rethinking.

    https://twitter.com/RickPalaciosJr/status/1605586722976190464

    David Rosenberg

    Nov. makes it 10 straight months of U.S. home sales declines, which is unprecedented. Taking out the 8-month string of slippage in ’07 is quite the feat & we know where that landed the economy. Housing is the quintessential leading macro indicator & the tea leaves aren’t good.

    https://twitter.com/EconguyRosie/status/1605604037419847680

    1. I don’t know why some of the text above got compressed. I tried to fix it but no luck. Maybe I’m pushing the limits of how long these can be.

      ‘My mtg rate that started at 2.1% in Feb 2021 is now 6.1%

      My mtg pmt which started at $2694 is now $4254

      A whopping 59% or $1560 monthly increase in < a year! Who can sustain this type of assault? Especially the majority of investors who started with 2-3% cap rates' A 2-3% cap rate means yer a speculator, not an investor. What was that saying, drinking the kool aid while swimmin neeked!

      2. ‘My mtg rate that started at 2.1% in Feb 2021 is now 6.1%
        My mtg pmt which started at $2694 is now $4254

        And this, my liege, is why one doesn’t take out a variable rate loan when interest rates are at record lows

        1. I clicked on that Tweet to learn whether this guy was based in UK or Aus or K-da where everyone has a form of variable rates. No, he seems to be an American real estate investor who had the option to lock in. So why didn’t he? Was he expecting the rates to decrease even more? If so, then he deserves to be Joshua-pounded.

    2. But I thought we were beyond quoting interest rates and just quote the monthly payments :-). In Seattle, we have some dealerships that dont even require the 1st monthly payment – it is deferred (ha ha ha). I believe that there is a Kia dealership that allows for 1 month off every year to not make a payment – guess that Mrs. Claus sends in the check for that

      CarDealershipGuy
      Imagine you’re a 750+ credit score. Now imagine you come to buy a car and I offer you 9% APR 🤢 I don’t need to say much more. High rates are killing the car business right now.
      —
      CarDealershipGuy

      Super interesting chart showing average used car loan rates by state. TIL: Mississippi leads the nation with a 12.28% average rate.

      1. High rates are killing the car business right now.

        Not to mention that many would be buyers are broke, ravaged by inflation and worried about their jobs.

        1. Just from the posts I see on NextDoor, people in my little burg are wondering how are they going to pay the heating bill this winter, buy gifts and host nice holiday dinners. A new car? Not in the picture.

          1. It would be instructive to do a poll while it’s colder than sh$t asking people how they feel about following the 30 YO bartender and doing away with natural gas.

          2. Klaus Schwab won’t be turning down the thermostat or missing any meals.

            Globalists gonna globe.

      3. n Seattle, we have some dealerships that dont even require the 1st monthly payment

        I thought you moved to Toronto.

    2. The Financial Times
      Markets Briefing Equities
      US stocks slide as weak earnings and strong data weigh
      Tesla and chipmakers lead the decliners as worries grow about the outlook for earnings in 2023
      The New York Stock Exchange
      The S&P 500 fell after the figure for US third-quarter GDP growth was revised higher
      © Julia Nikhinson/AP
      Jennifer Hughes in New York and Tommy Stubbington in London yesterday

      Wall Street stocks tumbled on Thursday as a round of upbeat economic data bolstered expectations that the Federal Reserve will continue to aggressively lift borrowing costs to fight inflation.

      The gloom was deepened further by weak earnings news, including from chipmaker Micron Technology, which announced plans to axe 10 per cent of its workforce amid weaker demand, while used car dealer CarMax said it was halting buybacks and cutting costs after a four-fifths plunge in third-quarter net profit.

      The S&P 500 closed 1.4 per cent lower, having fallen almost 3 per cent earlier. The tech-heavy Nasdaq Composite index slid 2.2 per cent. The S&P 500 is off a fifth this year, leaving Wall Street’s blue-chip benchmark on track for its worst year since the 2008 financial crisis, according to Refinitiv data.

      Thinner, year-end trading conditions were also a factor behind the hefty falls as the holidays approached.

      “No one wants to put on exposure at this point, everyone is just trying to finish the year,” said Jim Tierney, chief investment officer for US growth at fund manager AllianceBernstein.

      He added: “The big issue in 2023 is going to be that now the Fed has done its thing, what does that mean for earnings growth?”
      …

      1. “The S&P 500 fell after the figure for US third-quarter GDP growth was revised higher”

        Do you notice how all news gives cause for stocks to slide deeper into the CR8R?

    3. The Financial Times
      Tesla Inc
      Tesla shares lose $85bn in market value over brutal week
      Stock down 18% over past five days on doubts about Musk’s share sales and EV consumer demand
      Electric cars recharging at a Tesla Supercharger station
      Tesla’s share price dropped 9 per cent on Thursday after the carmaker said it would offer price discounts of $7,500 to US consumers
      Jennifer Hughes in New York and Chris Flood in London 10 hours ago

      Tesla stock has registered its worst week since the onset of the pandemic in March 2020, losing $85bn in market value in a reflection of investors’ doubts about the electric carmaker’s prospects as chief executive Elon Musk runs Twitter at the same time.

      Shares in Tesla closed at their lowest point in more than two years on Friday, taking its market capitalisation below $400bn. The stock has lost 18 per cent this week.

      Tesla was worth $1.2tn at the beginning of the year. The drop of more than $800bn in value is equal to the combined current market capitalisation of more than 80 of the smallest companies in the S&P 500 index, according to S&P Global Market Intelligence. The carmaker’s market cap this week slipped below that of ExxonMobil, a company reliant on fuelling internal combustion cars.
      …

  25. “…the developers of the Arte condominium in Miami’s Surfside neighborhood announced that a buyer had purchased a penthouse there for $22.5 million in cryptocurrency.”

    Isn’t it interesting how all cryptocurrency transactions are valued in dollars?

    “The deal was heralded as evidence that cryptocurrency would eventually become commonplace in the real-estate world.”

    How did that work out for them?

    1. Coinbase Predicts Investors Will Flock to Two Crypto Assets in 2023 As Flight to Quality Catches On
      Mark Emem
      December 22, 2022

      Coinbase crypto exchange is singling out two digital assets that will become a favorite with investors looking for quality.

      The US crypto exchange says in its 2023 Crypto Market Outlook report that one of the key themes for next year will be institutional investors seeking quality amid a worsening macroeconomic picture.

      According to Coinbase, Bitcoin (BTC) and Ethereum (ETH) will be favored by investors based on among other things the fact that they are tried and tested.
      …
      https://dailyhodl.com/2022/12/22/coinbase-predicts-investors-will-flock-to-two-crypto-assets-in-2023-as-flight-to-quality-catches-on/

      2. “Coinbase Predicts Investors Will Flock to Two Crypto Assets in 2023…institutional investors seeking quality…”

        Ah yes, the bros think that those mythical “institutional investors” will bring new money to the space and keep those crypto values rising.* It’s not gonna work. Pensions funds need BOTH increasing prices and stable regulated exchanges. But increasing prices come ONLY from the anticipation of currency adoption, and the existence of a regulated exchange PREVENTS crytpo being a currency. That is, the two things that pension funds need are mutually exclusive. In fact, they are mutually preventative. End result: no pension money coming in.

        ———–
        *classic Ponzi, but IMO it’s an unwitting ponzi.

          1. Yup. Institutional investors were already somewhat in on the crypto craze because they were desperate for yield. But haven’t they been pulling out for a while? And after multiple recnet debacles, there certainly won’t be any *new* funds coming in for sure. Sorry, Raoul Pal, no “wall of money” for you.

          3. And after multiple recnet debacles, there certainly won’t be any *new* funds coming in for sure. Sorry,
            Putting new funds into Crypto and have it blow up would be a sure fire way to lose your cushy job.

    2. Very, very SOON, nearly ALL transactions will be settled in either rolls of nickels or Ja Morant rookie cards. Preferably BOTH.

      da bear

  28. I feel sorry for the crypto kidz who went from rock stars to reprobate criminals overnight. They couldn’t have done it without the complicity of a hoarde of greater fools who bought into their magic money creation scheme.

    1. Caroline Ellison, former Alameda chief, and Gary Wang, FTX cofounder, each pleaded guilty to multiple charges and are cooperating with feds
      By Kara Scannell and Matt Egan, CNN
      Updated 10:58 AM EST, Thu December 22, 2022
      This illustration photo shows a smart phone screen displaying the logo of FTX, the crypto exchange platform, with a screen showing the FTX website in the background in Arlington, Virginia on February 10, 2022.
      Olivier Douliery/AFP/Getty Images
      CNN — 

      Two senior executives associated with collapsed crypto exchange FTX have pleaded guilty to multiple criminal charges and are cooperating with federal prosecutors, according to unsealed court records. Additionally, the pair face civil fraud charges from the Securities and Exchange Commission that were announced Wednesday night.

      Gary Wang, the co-founder of FTX, and Caroline Ellison, who served as CEO of the hedge fund Alameda Research, pleaded guilty to multiple counts of conspiracy and fraud for their roles in the fraud scheme that led to the collapse of the crypto-trading platform.
      …
      https://www.cnn.com/2022/12/21/business/ftx-alameda-research-cooperating/index.html

    2. FTX Collapse
      Sam Bankman-Fried’s Growing Legal Troubles Have Made For a Very Bad Week at Data For Progress

      Sean McElwee, the bombastic, well-connected Democratic activist, ousted founder of Data for Progress, a polling firm, has come under intense scrutiny for his campaign finance practices. His well-documented alliance with SBF is only raising more eyebrows.
      By Eric Lutz
      December 22, 2022
      …
      https://www.vanityfair.com/news/2022/12/sam-bankman-fried-legal-troubles-bad-week-data-for-progress

      1. Sam Bankman-Fried’s Growing Legal Troubles

        My understanding is that while his bail was set at $250M, the judge accepted his parents’ $4M house to cover it.

    3. What’s next for Caroline Ellison, Sam Bankman-Fried’s ex who helped run Alameda Research
      Sindhu Sundar
      Dec 23, 2022, 9:30 AM
      Caroline Ellison is accused of being a willing enabler of Sam Bankman-Fried’s alleged scheme at FTX.
      Insider Illustration

      – Caroline Ellison, Alameda’s ex-CEO, is out on a $250,000 bond after pleading guilty in the FTX case.
      – She and FTX cofounder Gary Wang are working with feds probing Sam Bankman-Fried’s crypto empire.
      – Cooperators may give up a high level of autonomy in hopes of a lighter sentence, legal experts said.
      …
      https://www.businessinsider.com/whats-next-for-sam-bankman-frieds-ex-ftx-caroline-ellison-2022-12

      1. Could somebody help me understand this?

        Headline says: :Bankman-Fried, FTX execs received billions in hidden loans, ex-Alameda CEO says:

        Story says: “Caroline Ellison, former chief executive of Alameda Research, said she agreed with Bankman-Fried to hide from FTX’s investors, lenders and customers that the hedge fund could borrow unlimited sums from the exchange”

        If I read correctly, FTX was receiving billions in loans from Alameda, but at the same time, Alameda was borrowing unlimited sums from FTX. Da Fuq? Were were they just tossing the same money to back and forth to each other over and over again? Or were they just making up more and more money to give to each other, like a perpetual motion machine?

        [On a side note, sorry about the poor formatting. I recently replaced my laptop and can’t seem to find the Joshua Tree extension to get the good formatting.]

        1. The piece you are missing is the magic FTT bean (FTX coin) that could be manipulated higher at will and was used as the collateral for the ‘loans’. As long as you are posting worthy collateral then all is well, right? It’s just an accounting error. Wink-wink.

          The thing that people should be ‘noticing’ is that someone (Caroline) just admitted to knowingly stealing billions of dollars as a CEO and is not going to be prosecuted at all for it. It also appears that SBF was just rescued from a foreign prison and set free. Meanwhile other folks get lengthy sentences for stealing knickknacks. I wonder why this is?

          4. I still think that some other agency has charges lined up against Caroline. How can they let her get off scot free? Then again, we HAVE seen a lot of funky shenanigans in the past couple years.

          5. The Financial Times
            FTX Trading Ltd
            Bankman-Fried associate admits to misuse of FTX customer funds
            Testimony from Alameda’s Caroline Ellison comes after agreement to co-operate with prosecutors in fraud case
            Sam Bankman-Fried leaving the federal courthouse in Manhattan on Thursday, where he made an initial appearance following his extradition from the Bahamas
            Joe Miller in New York 6 hours ago

            Caroline Ellison, a former close colleague of Sam Bankman-Fried, said she and the FTX founder hid the fact that they were using customer deposits from the cryptocurrency exchange to make “illiquid” investments that were later blamed for the company’s collapse in November.

            Ellison, the former head of FTX’s trading affiliate Alameda Research who pleaded guilty to seven criminal charges on Monday, told a New York judge that from 2019 to 2022 the firm had access to “an unlimited line of credit on FTX.com” and that she “knew that it was wrong”, according to a transcript of the plea hearing made available on Friday.

            “I understood that FTX executives had implemented special settings on Alameda’s FTX.com account to maintain negative balances in various fiat currencies and cryptocurrencies,” Ellison said at the hearing, just days before Bankman-Fried was extradited from the Bahamas to the US.
            …

          6. Rich liberal jews.

            Ashkenazi? I’ve learned over the last few years that not all Jews all equal.

        2. SBF made a mistake.

          At some point he should have gone on CNBC and raised interest rates.

          That would have kept his little con going… for another one hundred years.

          da bear

    6. A global drug cartel used Binance to launder millions, the DEA says. Here’s how the world’s largest crypto exchange is reportedly working with investigators to track them down.
      Morgan Chittum
      Dec 21, 2022, 1:23 PM
      money laundering graphic
      Vladimir Kazakov/Getty Images
      – A global drug cartel allegedly used Binance to launder tens of millions, an ongoing DEA investigation alleges.
      – Roughly $15 million to $40 million in illicit profits could have been funneled through Binance, according to Forbes, which obtained a search warrant.
      – Here’s how the largest crypto exchange in the world is reportedly working with investigators.
      …
      https://markets.businessinsider.com/news/currencies/global-drug-cartel-binance-launder-millions-crypto-exchange-dea-investigation-2022-12

      1. This certainly is an interesting legal strategy: If you prosecute us, a financial CR8R will result.

        1. CoinGeek
          Binance is reportedly ramping up its legal department amid a DOJ probe and a slew of charges tied to the exchange’s alleged money laundering conspiracy and breach of criminal sanctions, among others.

          Binance to US authorities: Prosecute us and ‘crypto’ will collapse

          Business 13 December 2022
          Steven Stradbrooke

          U.S. authorities are reportedly split on when to file money laundering charges against the Binance digital assets exchange, which is arguing that taking it down could bring down the whole ‘crypto’ house of cards.

          On Monday, Reuters reported that officials at the U.S. Department of Justice (DOJ) are preparing charges of unlicensed money transmission, money laundering conspiracy, and criminal sanctions violations against Binance. But no decision on when to file these charges has been made, partly due to the Byzantine pecking order of U.S. law enforcement bureaucracy.

          Reuters reported that prosecutors from three different DOJ branches—the U.S. Attorney’s Office for the Western District of Washington, the Money Laundering and Asset Recovery Section (MLARS), and the National Cryptocurrency Enforcement Team (NCET)—are involved in the probe.

          The investigation, which focuses on actions taken by Binance boss Changpeng ‘CZ’ Zhao and other key executives, began in 2018 at the Washington State office. Reuters’ sources claim the DOJ was pushed to act after tracing criminals’ use of Binance to move illicit funds, after which the Washington agents teamed up with MLARS and the Internal Revenue Service’s Criminal Investigation (IRS-CI) unit.

          Investigators took notice of Binance’s public claims that, at the time of its 2017 launch, nearly one-third of its users were based in the U.S. Despite this significant U.S.-based volume, Binance failed to register with the Department of the Treasury or implement rigorous anti-money laundering (AML) programs, as required under U.S. law.
          …
          https://coingeek.com/binance-to-us-authorities-prosecute-us-and-crypto-will-collapse/

          1. It almost seems like CZ is trying to play the too-big-to-fail card.

            However, we know from the FTX collapse that cryptocurrencies are not TBTF, as the losses were contained to cryptocurrency HODLers. So good luck with trying to fend off the hand of justice by threatening a repeat of the FTX collapse.

        2. “This certainly is an interesting legal strategy: If you prosecute us, a financial CR8R will result.”

          Good luck, Lanny Breuer retired.

  29. The Florida Supreme Court announced Thursday it approved a request by Gov. Ron DeSantis to impanel a statewide grand jury to investigate any wrongdoing related to COVID-19 vaccines.

    “A statewide grand jury shall be promptly impaneled for a term of twelve calendar months, to run from the date of impanelment, with jurisdiction throughout the State of Florida, to investigate crime, return indictments, make presentments, and otherwise perform all functions of a grand jury with regard to the offenses stated herein,” reads the court order (pdf) issued Thursday.

    DeSantis, a Republican, is seeking to investigate Pfizer-BioNTech and Moderna and their executives, as well as other medical associations or organizations involved in the provision of the COVID-19 vaccines in Florida.

    Among other things, the governor seeks to probe whether any deceitful information was disseminated about “vaccines purported to prevent COVID-19 infection, symptoms, and transmission.”

    https://www.theepochtimes.com/mkt_app/florida-supreme-court-to-convene-grand-jury-to-investigate-covid-19-vaccines_4941678.html

    1. That’s going to be an interesting investigation. The vaccines actually DID prevent “infection, symptoms, and transmission” … … against the Alpha variant. What DeSantis really needs to look at is what Pfizer said after August 2021, when Alpha was replaced by Delta. If Pfizer represented the same level of vaccine success against later variants, then Florida might have a case.

      1. The vaccines actually DID prevent “infection, symptoms, and transmission

        Even if that statement were true, the fact remains that the jab was experimental and dangerous, yet we were threatened if we refused it.

      2. The vaccines actually DID prevent “infection, symptoms, and transmission”

        Consider that you were lied to, right from the beginning.

        1. Here is what the pharma lawyers are going to argue: “Hey Joe6P, Pharma said only ‘protection against,’ especially with the later variants. It’s not Pharma’s fault that YOU assumed that meant 100% protection. That’s your fault.” Even if you don’t like that, I imagine that’s how it’s going to go down in court.

          The real wrongdoing was the Biden Admin. No matter what Pharma advertised, everyone still had the option of not believing them and of refusing the shot… until Biden made substantive threats to the unvaccinated. And they did it even AFTER Delta had displaced Alpha, and AFTER Israel reported myocarditis especially in young men.

          1. And they did it even AFTER Delta had displaced Alpha, and AFTER Israel reported myocarditis especially in young men.

            And yet Big Pharma kept making and selling the jab.

            I hope DeSantis takes them down, though I doubt he will be able to do so.

          2. Here is what the pharma lawyers are going to argue

            The government was in on the scam and we have immunity from liability. Suck it!

          3. That was the argument last I heard. As a pure blood trying to maintain sanity while witnessing genocide, I no longer keep up. I truly wish this weren’t hyperbole.

          5. As a pure blood trying to maintain sanity while witnessing genocide

            In the early days there were many players (up to 50 I believe) who were trying to make a covid vaccine. Early on most of them realized that it wasn’t going to work and they dropped out, which means that those who stayed on also knew theirs didn’t work either, and no doubt knew they were also harmful.

            I’ve seen an ad for Pfizer’s pneumonia jab. Nope, no way. I don’t trust them, and for very good reason. Heck, I declined the flu jab again this year.

          6. The real wrongdoing is that you have Entities that want to take over the World, and kill or enslave the populations of the World.
            Pandemics and Climate Change are the weapons of mass destruction to bring on this One World Order and Great Reset of previous structures by these Entities, that have captured Governments of the World, including the US.

        2. My names says it all. Covid 2020 AKA alpha was the 2020 flu rebranded.

          Sheeple gonna sheeple.

          God bless this site.

          1. “Covid 2020 AKA alpha was the 2020 flu rebranded.”

            Was just shopping at Walmart, and I overheard some seriously gross croupy coughing. Where’s my self contained breathing apparatus?

          2. No proof that the vaccine was a vaccine , or that the Covid was a flu, or that the PCR test accurately tested for the alledged Covid disease.
            No ability to have consistent manufacturing of viles of vaccines.Collusion with vaccine makers to use one spike protein, the most lethal part of the alledged disease called Covid..
            The suppression, obstruction ,and censorship of effective cheap drugs that cured Covid, for ineffective and dangerous drugs and vaccines..

            Collusion to obstruct “informed consent”
            by blank information inserts with viles of
            vaccines. Collusion to obstruct and censor facts and dispute to a expierment
            vaccine , to defraud the Public with “safe and effective,you won’t get Covid ,”which was a false advertising campaign..
            Defrauding the world that fake vaccine would stop transmission of Covid, when vaccine producers never tested that vaccine would stop transmission.
            The Media and all the other Entities that colluded to pull off these crimes against humanity are numerous, which include the President of the United States, and the corrupt United Nations, and no doubt the CCP.

        2. “Dr” John

          He keeps being “recommended” to me on youtube. The guy reeks of “controlled opposition”.

          3. the YT revenue wave

            I can’t help but think that income stream is going to dry up for a lot of people once we have a major recession. The ad revenue will prove to be a bubble era relic.

      4. Spare us your rationalizations. To quote the triage nurse who treated me when I had COVID as an unclean and unvaccinated not not worthy of living, “you chose poorly.” You chose the least administered version of the jab. Deal with it.

        1. “you chose poorly.”

          I do sincerely wish I could take back all of the poorly choices of my life. All I can do is be generous in the future.

          Merry Christmas.

        2. I dunno, all the anti-vax have qualified their postings to specify “mRNA” vaccines. I chose to avoid the mRNA vaccine. I think that I “chose okay.”

  31. ‘they are now seeing homes being sold through power of sale (when a mortgage lender sells the home due to a default in payments) for big losses. One home in Brampton, for example, was bought during the height of the market, at the beginning of 2022, for $2.65 million and it sold through a power of sale for $1.85 million, McDadi said’

    This has been fascinating to watch from a mania perspective. They had this past insane spring, after almost two years of astounding price increases, started dropping like a rock with rate increases, and now the foreclosures start? Is the donkey sliding ahead of the cart or the other way around?

    ‘So $800,000 less in just within the span of six to eight months’

    Again Sam, bravo, keep up the good work!

    1. ‘Is the donkey sliding ahead of the cart or the other way around?’

      An over-levered condition is going to result no matter where the fulcrum is placed on the DonkeyCart. End result? Debt Donkey go upsy daisy and then fall down get boo boo! Whaaaaaaa!

      Colorado Springs, CO Housing Prices Crater 14% YOY As Sellers Plead For Offers

      https://www.movoto.com/colorado-springs-co/market-trends/

      As one Colorado Springs seller bemoaned, “I got nothing but a boat load of debt and a rapidly depreciating house. I think I paid too much.”

  32. ‘A property cycle is exactly that – a cycle – and while the craziness of 2021 will go down in history as a once-in-a-generation property boom (which, by the way, continued well into 2022 in five of the eight capital cities)’

    Among the last of the winnahs! Myth smashed: all RE is local. Except for spring 2022, which appears to be the global peak: except for China, New Zealand, Arabia, Africa, all the south of the US border sh$tholes and assorted islands. For most of the world that doesn’t cook food on dried dung, this past spring was it.

    1. I’d say that the overall insanity engulfing the west these past few years is nearly unparalleled, matching the decadence, depravity, corruption and insanity of the Roman empire before it fell.

      1. There is a little too much “noticing” in this statement for my comfort. You are kindly reminded to stop noticing.

      2. I’ve read that the Germans had a pretty euphoric thing going for a while too until some World Wars altered things a bit. I’m sure everything will be fine.

  33. Chicago could issue mask advisory if COVID cases rise to high level, Mayor Lori Lightfoot says (12/22/2022):

    “Not only will this protect you, but it will also protect those around you, including some of our most vulnerable older residents and those with compromised immune systems,” Mayor Lightfoot said. “Preventing the spread of COVID now will also protect our healthcare system from being overwhelmed with COVID-19 cases.”

    That would mean all Chicagoans 2 and older will be asked to wear a mask in indoor public settings, including restaurants as well as theaters.

    Businesses would be allowed to mandate masks for employees or customers.

    “If you have not had a vaccine against COVID since Labor Day you need to get that now. Make it a holiday present to yourself,” Chicago Department of Public Health Commissioner Dr. Allison Arwady said.

    https://abc7chicago.com/chicago-mayor-lori-lightfoot-covid-mask-advisory-level/12601961/

    Wear your cuck mask and go get your cuck vaccine.

    Globalists gonna globe.

  35. WATCH: Armed Thieves Flee After Failed Gas Station Heist in Philly

    by Dan Lyman
    December 23rd 2022, 11:43 am

    The incident unfolded at around 2:30 a.m. on Tuesday amid a historic crime wave in the City of Brotherly Love.

    Four masked suspects piled out of a car and stormed the 52nd Street Gas Station with plans to break into the ATM.

    Surveillance footage of the bungled heist was released by Philadelphia police.

    “As one male points a gun at the store clerk, two others attempt to break into the ATM while the fourth man stands guard,” police explained in a statement.

    “The offenders flee the scene after failing to gain access to the ATM.”

    The suspects can be seen desperately attempting to rip the cash machine out of the ground to no avail.

    Authorities are seeking more information about the suspects, none of whom have been arrested, according to the latest available updates.

    https://youtu.be/Q80u3MJ_-Ps

Comments are closed.