Coming Back Down To Earth Is Not A Bad Thing, Unless You’re A Seller, Then It Sucks
A report from the Mountain Democrat in California. “During a recent interview for a listing I made the mistake of assuming the sellers were aware their home was not worth today what it was last summer. My mistake became evident after I presented recent neighborhood sales information and my estimate of the home’s value. In return I received an expression of shock and awe and was escorted out the door. This seller dismissed my information as being false and was a bit angry that I would undervalue their home.”
“Sellers are having difficulty adjusting to the new buyer’s market. How is it possible that their neighbor’s home sold last June for $75,000 more than agents are saying their home is currently worth? Worse, agents are suggesting home staging, pre-listing inspections and repairs and remodeling before listing. Sellers have been in denial, questioning if all of this is really necessary. Purchase contract cancellations are up. Buyers are bailing out of their escrows at the highest rate since 2008. The increasing mortgage rates disqualify some. Others will have second thoughts about buying now when home values may continue to fall.”
“The most frequent response from sellers when presenting an offer last year was, ‘This is great. Thank you.’ Now agents hear, ‘This is ridiculous. I wouldn’t consider that offer.’ Sellers who fail to negotiate are failing to sell. Buyers often don’t expect their initial offer to be accepted. They do expect a reasonable counteroffer. Sellers should not feel insulted when presented with an offer less than their expectations. Ken Calhoon is a real estate broker in El Dorado County.“
The Fresno Bee in California. “Zillow reveals that across ZIP codes both large and small in the Valley, the estimated values of homes dipped by an average of about 2.5% compared to July 2022, and in some areas by as more than 9%. That’s a far cry from the average increase of almost 38% across ZIP codes in Fresno, Kings, Madera, Merced and Tulare counties registered between January 2020, prior to the arrival of COVID-19, and June 2022. Within Fresno County, the sparsely-populated 93641 ZIP code around Miramonte, in the Sierra Nevada east of Fresno, saw the largest decline in value since mid-2022, slipping about 8.2% from a value of almost $278,000 in July to about $255,000 last month.”
WPTV in Florida. “The sizzling days of 2022 for the South Florida housing market are now a distant memory. ‘I call this period the pause,’ Jeff Lichtenstein of Echo Fine Properties in Palm Beach Gardens said.”
The Worcester Telegram in Massachusetts. “First-time homebuyers should not give up hope, according to Ashley Brennan, real estate agent since 2011 in Hingham. ‘We aren’t seeing the frenzy of multiple offers that first-time homebuyers were losing out on because of (offering) lower down payments,’ said Brennan. She also said that because the average number of days on the market for listings is longer (155, currently compared to just 38 at this time last year), buyers have more time to make educated decisions and can benefit from price reductions — which often happen as the number of days a property is on the market increase.”
The Southern Maryland Chronicle. “As 2023 began, so did some surprising new trends in the Southern Maryland housing market. Prices began to decrease in most jurisdictions, while homes are staying on the market for longer than many recent potential buyers have seen. Active listings increased roughly 94.5% from this time last year, and the total units sold saw a sharp decrease. 281 units sold last month across Southern Maryland, a decrease of 33.25% from 2022. However, more new listings came on the market last month, up 9.87% from 2022. Also, homes are staying on the market for longer, and prices are starting to decline slightly for the first time in years.”
“Homes sold on average for 96.8% of what they were listed for in January, which is down from roughly 99.9% in 2022. Where buyers were previously paying close to and over list price are now seeing many sellers offer concessions. ‘The market over the past few years has not been sustainable, and we are starting to see some of that dial back,’ SMAR 2022-23 President Michael Funk said.”
From Media Feed. “The housing market looks far different today than it did even six months ago. Gone are the wild 50+% price jumps we saw during the pandemic. Real estate markets are coming back down to earth — and that’s not a bad thing. (Unless you’re a seller. Then it sucks.) Melanie Allen from Partners in FIRE has a front-row seat this housing correction. ‘I live in Austin, and have been searching for a home since moving here in April 2022. At that time, even small condos under 800 square feet were selling for $300,000, and I didn’t see any single-family homes available for less than $400,000, even in the smaller towns surrounding Austin.'”
“‘I started noticing a change last fall. I saw deep price cuts on numerous homes, the small condos are now selling for between $250,000 and $300,000 and I even found some builders in the outskirts offering single-family starter homes for under $300,000. I’m currently under contract for a home about 20 miles northeast of Austin, a deal I never would have found when I first started house hunting.'”
Yahoo Finance. “Investors fled the housing market in the final months of 2022, purchasing roughly half the number of properties they bought in the previous year. Their absence was acutely felt in some pandemic boomtowns where investor home purchases fell nearly 70% year over year in the fourth quarter. ‘In 2021 and early 2022, we had rental hedge funds purchasing a lot of homes in the valley because rental rates had soared along with home prices,’ Shay Stein, a listing agent for Redfin in Las Vegas, wrote to Yahoo Finance. ‘As the market turned, they stopped making offers at the pace they were.'”
“Other cities that showed significant declines in investor activity were Nassau County in New York, Atlanta, Charlotte, Nashville, Sacramento, Riverside in California, and Orlando, Florida. ‘I think a lot of the iBuyers and large rental companies like Progress Residential slowed their buying because they had already bought so much in Phoenix and many of those homes were just sitting on the market,’ Heather Mahmood-Corley, an agent in Phoenix, wrote in an email. ‘A lot of the iBuyers are losing money on their homes and they’ve had them on the market 200+ days.'”
“In the boomtowns, prices have been trending downward since mid-2022. For instance Phoenix’s average home price fell 13% since May 2022, while Las Vegas’s price dropped 13.2% since June 2022. The average price in Austin, another popular boomtown, saw average prices dip 20% since May of last year.”
From Bloomberg. “Sales of commercial mortgage bonds have fallen off a cliff, plummeting about 85% year-over-year, as rising interest rates cut into lending volume and defaults spook investors. Adding pressure is a recent string of defaults in the office and retail property sectors, making bond buyers even more wary. ‘Everything is frozen, so there’s no raw material to make CMBS transactions,’ said Paul Norris, head of structured products at insurance asset manager Conning & Co., in a phone interview. ‘It’s very hard to bring new deals to market now, because there’s nothing happening in the real estate market. No one wants to refinance their buildings and there’s a massive gap in terms of expectations between buyers and sellers due to the uncertainty.'”
Bisnow New York. “A loan backing 11 apartment buildings Blackstone owns in Manhattan has been sent to special servicing. The CMBS loan is for $271M and spans 637 units in Chelsea, the Upper East Side and Midtown South. The loan was current as of this month, Commercial Observer reported, but was on the servicer’s watchlist in November. Blackstone continues to operate the largely market-rate properties, but higher-than-anticipated expenditures and its floating-rate debt on the portfolio have created a cash flow shortfall, which the world’s largest real estate owner has elected not to keep funding, a source said.”
“Its global portfolio is far from immune to distress. This month, lenders on a $548M portfolio of Nordic office and retail assets owned by Blackstone refused to grant an extension on an expiring loan, Bisnow reported. It is also facing a rush to the exits from investors in one of its signature funds. In January, Blackstone’s nontraded REIT, Blackstone Real Estate Income Trust, paid out just 25% of the repurchase requests made by shareholders. Late last year, Blackstone said it was putting a freeze on investors drawing money out, after a jump in repurchase requests forced it to act to prevent “a liquidity mismatch.”
The Globe and Mail in Canada. “Desjardins Group is shuttering its real estate brokerage FairSquare Group Realty in a surprising reversal for the Quebec financial services firm, which had bought the business in the first year of the pandemic when the country’s real estate market was booming. FairSquare, which was previously called Purplebricks, cited the slowdown in the housing market for the move, and said on its website that it was ‘no longer accepting new business.’ The website showed that FairSquare was registered to work as a brokerage in Ontario, Manitoba and Alberta.”
“‘The decision to cease the operations of FairSquare was not an easy one,’ Desjardins spokesperson Chantal Corbeil said in an e-mail. ‘We have [made] efforts to promote FairSquare activities, but the rapid deterioration of the housing market and its business model do not allow us to continue operations,’ she said.”
“The country’s real estate market has slowed significantly since the Bank of Canada made a series of interest-rate increases, which raised borrowing costs. The volume of home resales has plunged and January’s activity was the lowest since the Great Recession. Prices have fallen for 11 straight months and the typical home price is now 15-per-cent below peak values in February of last year.”
The Telegraph. “Mark Twain once advised: ‘Buy land, they’re not making it anymore.’ It is hard to know what the American literary icon would have made of the metaverse, but the investing maxim surely does not apply to cyberspace, where land is infinite. Yet companies and speculators have poured billions into parcels of internet land in a short-lived gold rush. Now, they are suffering through the market’s first downturn.”
“Cooling interest in the metaverse and cryptocurrencies has created a housing crash that would be catastrophic in the real world and left virtual property developers sitting on large losses. Investors imagined the rules of real estate in the physical world would apply to the virtual realm. Digital worlds were expected to become the new high streets, shopping centres and tourist attractions, making high-trafficked areas lucrative investments. Today, these virtual worlds look more like a wasteland.”
From IT Pro. “I live in Camden Town, in London, close to Regent’s Canal, down which I can walk in ten minutes to King’s Cross. The area around this great railway station used to be squalid and dilapidated but a couple of decades ago renovations began that would turn it into what was briefly dubbed ‘the Knowledge District.’ The British Museum, in Bloomsbury, was close so it moved its famous library to a new building at King’s Cross. Soon followed King’s Place, an avant-garde glass pile containing concert halls, art galleries and the Guardian newspaper.”
“Last of all, big tech arrived. Google – sorry, Alphabet – started its new European HQ, which is almost finished as I write, a vast edifice the size of a city block with a whole park on its roof. Facebook – sorry, Meta – pitched in with its own block-sized building, only just open, in that area between the canal and York Way that seems to sprout a new mini-skyscraper every time I walk though its Manhattan-lite main street.”
“Ten years ago I might have imagined this as a preview of a hi-tech future, but the last year has rapidly clouded any such vision, with mass layoffs and financial concerns. A recent UK survey investigated public perceptions of various digital product categories. Aproval drops off a cliff for emerging technologies such as the Internet of Things (IoT), with only 16% approval. A staggering 84% had either never heard of or were bored by the metaverse concept, too, rising to 89% for the nebulous Web3, the cocktail of technologies Zuckerberg has bet his company on.”
“The vast wealth that builds these opulent offices comes at a cost to this real world. The smartest minds are deployed to avoid paying the taxes that contribute to its upkeep. Amazon displaces high street shops, Google and Twitter displace local newspapers, Uber displaces taxi drivers, Airbnb displaces hotels, and so on and on. Newness and convenience have so far protected them from public wrath, but the metaverse suddenly becomes a revealing metaphor for the way the owners of these tech giants have detached themselves from the real economy. They can live in a fantasy world where colonising Mars, or the pursuit of physical immortality, can seem like good ways to spend money. Unfortunately for those fantasies, the real world is where silicon chips are made.”
“I’m also not suggesting that merely taxing tech giants more heavily would magically solve our looming economic problems. A massive change of mindset is required to induce cooperation between states and digital giants to deploy this semi-miraculous infrastructure for solving problems on this planet, rather than on Mars or the metaverse. If that doesn’t happen soon, those shiny new office blocks in King’s Cross might end up being renamed the Museum Of Globalisation.”
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The most frequent response from sellers when presenting an offer last year was, ‘This is great. Thank you.’ Now agents hear, ‘This is ridiculous. I wouldn’t consider that offer.’
Hold yer ground sellers. These UHS want you to give it away just so they can make a buck. Tell them to pound sand.
😁😁😁
Hold yer ground sellers. These UHS want you to give it away just so they can make a buck. Tell them to pound sand.
There is a lot of this going on. It’s hilarious. I saw a house listed last July or so, for peak pricing of course, and it obviously never got an offer. They took it off the market after a $50k price cut. It reappeared last month for peak pricing. It’s coming up on 8 months since the original listing and the listing price has done nothing to reflect reality.
Hold yer ground sellers.
That’s what I’m seeing.
🤣
Russia is winning.
‘Sales of commercial mortgage bonds have fallen off a cliff, plummeting about 85% year-over-year, as rising interest rates cut into lending volume and defaults spook investors. Adding pressure is a recent string of defaults in the office and retail property sectors, making bond buyers even more wary’
It’s not just defaults, these clowns are handing back the keys to huge boondoggles. Blackfook, the ‘biggest bag-holder on the planet’. Brookfield just bailed on LA, even though their backs weren’t up against a wall. They just said fook it, we’re off.
How do these 5 % cap rates look now?
I got into posting more about CRE and apartments especially because I saw stupid prices back in 2014. I looked into it and these guys were not making money – except for ‘appreciation!’ Which could be a definition for a financial mania.
Remember that University of Texas study years back that pointed out CMBS were full of appraisal fraud and overvalued 30% or more? That was in the wall street journal. Never heard another peep about it, did we? Sound lending there senator running deer.
‘Sales of commercial mortgage bonds have fallen off a cliff, plummeting about 85% year-over-year, as rising interest rates cut into lending volume and defaults spook investors. Adding pressure is a recent string of defaults in the office and retail property sectors, making bond buyers even more wary’
– CRE is in worse shape than RRE. WFH is telecommuting 2.0 and it’s not going away, IMHO. The pandemic just accelerated the trend. Besides many cities are now 3rd world sh*tholes, thanks to leftist/”progressive” policies, and so not safe or healthy to live there anymore. Sure, some will return to work in the office, but I don’t see that getting back to pre-pandemic levels.
– Think shopping malls (also CRE). The internet was disruptive to the brick and mortar model.
I did the math on the blackstone apartments and it comes out to 425k per unit. I’m sure it will be fine. What’s a few yellen bucks lost here and there?
P.S. please continue to post all stories regarding blackstone and/or BlackRock failing miserably. We should all celebrate their demise. They are evil parasites run by people who spend their time rubbing their hands together as they plot how to destroy the communities they infest.
Blackrock and Blackstone have bought off the government. Larry Fink’s (Blackrock) hands are in every dirty policy imaginable. He was also on the WEF list this year.
‘She also said that because the average number of days on the market for listings is longer (155, currently compared to just 38 at this time last year), buyers have more time to make educated decisions and can benefit from price reductions — which often happen as the number of days a property is on the market increase’
155 days? That’s some red hotness right there.
“155 days? That’s some red hotness right there.”
– Where’s my FOMO?
155 days sounds so much better than 5 months…………..
People don’t do the math and think of ti’s just a few more days.
‘I call this period the pause,’
Here we call it DENIAL.
‘Other cities that showed significant declines in investor activity were Nassau County in New York, Atlanta, Charlotte, Nashville, Sacramento, Riverside in California, and Orlando, Florida. ‘I think a lot of the iBuyers and large rental companies like Progress Residential slowed their buying because they had already bought so much in Phoenix and many of those homes were just sitting on the market,’ Heather Mahmood-Corley, an agent in Phoenix, wrote in an email. ‘A lot of the iBuyers are losing money on their homes and they’ve had them on the market 200+ days’
‘In the boomtowns, prices have been trending downward since mid-2022. For instance Phoenix’s average home price fell 13% since May 2022, while Las Vegas’s price dropped 13.2% since June 2022. The average price in Austin, another popular boomtown, saw average prices dip 20% since May of last year’
I was thinking this morning, this might be the biggest RE crash in history. As in, already happened.
For instance Phoenix’s average home price fell 13% since May 2022
The link says -39% YoY. Why are they comparing to May?
The link says -39% YoY
Not on either of the Phoenix links I clicked.
It was the Redfin one linked in the article. Now it says -4.8%.
Stats changing by the minute or my eyes.
‘across ZIP codes both large and small in the Valley, the estimated values of homes dipped by an average of about 2.5% compared to July 2022, and in some areas by as more than 9%. That’s a far cry from the average increase of almost 38% across ZIP codes in Fresno, Kings, Madera, Merced and Tulare counties registered between January 2020, prior to the arrival of COVID-19, and June 2022’
Yep, that minor respiratory virus made shack prices go crazy! Wa happened in June? Oh right, Jerry broke it off in their a$$e$. The formerly teflon central valley joins the big city sh$tholes in sinking like a turd in a well.
“Zillow reveals that across ZIP codes both large and small in the Valley, the estimated values of homes dipped by an average of about 2.5% compared to July 2022”
I’d like to know which areas are only down 2.5% since summer. According to Redfin Fresno metro is down over 10%, from 400k to 355k. Same with Visalia and Bakersfield.
𝗠𝗮𝗻𝘀𝗳𝗶𝗲𝗹𝗱, 𝗠𝗔 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲 𝟭𝟲% 𝗬𝗢𝗬 𝗔𝘀 𝗡𝗲𝘄 𝗘𝗻𝗴𝗹𝗮𝗻𝗱 𝗘𝗰𝗼𝗻𝗼𝗺𝘆 𝗜𝗺𝗽𝗹𝗼𝗱𝗲𝘀 𝗢𝗻 𝗦𝗼𝗮𝗿𝗶𝗻𝗴 𝗨𝗻𝗲𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁
https://www.movoto.com/mansfield-ma/market-trends/
𝘈𝘴 𝘰𝘯𝘦 𝘕𝘦𝘸 𝘌𝘯𝘨𝘭𝘢𝘯𝘥 𝘣𝘳𝘰𝘬𝘦𝘳 𝘴𝘩𝘢𝘳𝘦𝘥, “𝘏𝘰𝘶𝘴𝘪𝘯𝘨 𝘪𝘴 𝘣𝘦𝘤𝘰𝘮𝘪𝘯𝘨 𝘪𝘯𝘤𝘳𝘦𝘢𝘴𝘪𝘯𝘨𝘭𝘺 𝘸𝘰𝘳𝘵𝘩𝘭𝘦𝘴𝘴.”
A reader sent these in:
They can’t keep this up forever without major consequences for the Yen.
https://twitter.com/AvidCommentator/status/1626373593532866560
Even MORE proof that the EPA is LYING to the people of East Palestine. THIS WATER IS INSANELY CONTAMINATED.
https://twitter.com/nicksortor/status/1626327835668320256
Another concerning video to watch for East Palestine region.
https://twitter.com/WallStreetSilv/status/1626340763402440709
The S&P 500 risk premium is the lowest since 2007. Very low risk premiums can portend poor returns over the next few years.
https://twitter.com/SoberLook/status/1626177383492378624
The Kobeissi Letter
Since January:
1. Dec. CPI revised higher by 0.2%
2. Nov. CPI revised higher by 0.1%
3. Jan. jobs report 200% above expectations
4. Jan. PPI revised higher by 0.3%
5. Fed futures added 3 rate hikes
Meanwhile, stocks are up 8% YTD.
If this can’t break the market, what will?
https://twitter.com/KobeissiLetter/status/1626251802684293122
Does any bull remember last June, when the CPI/PPI ran too hot and the Fed had to come out and tell everyone to expect larger rate hikes? Because that’s what happened today:
https://twitter.com/SuburbanDrone/status/1626408509955768320
Greta isn’t going to East Palestine bc there’s no money in East Palestine.
https://twitter.com/SallyMayweather/status/1626388567080550405
Market action today defines the end of transitory goldilocks coming into the year.
Smart question then was whether the economy would break weak (hard landing) or break strong (H4L). Evidence these last few weeks shows the second. That’s the worse path for financial markets.
https://twitter.com/BobEUnlimited/status/1626563088580222976
The biggest inequality generator is interest rate manipulation on asset prices.
https://twitter.com/GRomePow/status/1626684469431398401
Sales of CMBS Plunge 85% as Commercial Property Markets Freeze
Only about $4.27 billion of the bonds have been issued so far this year, down from $29.38 billion at this same point last year
https://twitter.com/danjmcnamara/status/1626675293518716930
“The US mall industry has been shaky for years, of course, but now that interest rates are soaring from record-low levels, lenders are beginning to move aggressively against property owners.” What it means in the latest edition of The Brink:
https://twitter.com/EK_Hudson/status/1626651129122590741
Redfin Posts Quarterly Loss Amid Layoffs
https://twitter.com/ssun5555/status/1626628943628337161
CarDealershipGuy
In light of this used car price craziness…Worth noting that our sales pace has actually *cooled* in the past week. Dealers (including us) are banking on a massive tax refund season. If that doesn’t arrive, we’re all f*cked 🙃
https://twitter.com/GuyDealership/status/1626655785743749126
GETS YOUR BIDS IN CAUSE THE TORONTO REAL ESTATE MARKET IS BACK ON FIRE 🔥🔥🔥 like literally on fire…
Sold Feb 15 2022 – 2.56M
Sold Feb 16 2023 – 2.05M
12 month investment return = -$500k
ppl have no idea what’s about to go down, cause they r too busy praying for the pivot
https://twitter.com/MacroOunce/status/1626627339458052103
Personal savings rate in the US, per WSJ:
https://twitter.com/unusual_whales/status/1626597587632418816
Every time the government pays rent or stops a foreclosure, they’re CHOOSING winners and losers, not based on merit/effort/success. They didn’t confiscate 2-3-4x price gains over the last 40 years to give to renters.
https://twitter.com/GRomePow/status/1626370486728003584
Lance Lambert
The Pandemic Housing Boom saw an investor rush to buy single-family homes. It makes sense: Soaring rents, soaring home prices, low rates, easy capital, inflation hedge. That’s over now
https://twitter.com/NewsLambert/status/1626605323606687746
This is why I read the @WSJ every morning
https://twitter.com/EnronChairman/status/1626196038984900608
Lance Lambert
Next month marks 3 years since borrowers had to pay on their federal student loans.
https://twitter.com/NewsLambert/status/1626445082160254978
This is crazy. It was cheaper to by a home with 19% mortgage rates back in the Volker era in 1982 than it was in 2022. The math is shown in the video and it’s not even close. The main reason is home prices vs incomes are so out of whack today due to housing prices soaring.
https://twitter.com/StealthQE4/status/1626478389946204160
The utter cluster fuk the past 25 years with zirp and the greatest wealth inequality ever is 10X worse than a bad recession.
https://twitter.com/RaelRutherford/status/1626720655671545858
Rick Palacios Jr.
Number of Realtors falling for first time in over decade.
https://twitter.com/RickPalaciosJr/status/1626672482987163648
California Home Sales Down 45.7% YoY in December, Prices Decline 1.9% YoY. Delicious 🤤
https://twitter.com/NipseyHoussle/status/1626683656004685836
Japan Central Bank Digital Currency (CBDC) coming soon …… 🤡 🌎
https://twitter.com/WallStreetSilv/status/1626761694369263619
Record high credit card balances, rising rates … is there a limit to this? 🧐
https://twitter.com/WallStreetSilv/status/1626712997522722817
Will the Federal Reserve be adding shares of Zillow and $OPEN to their balance sheet? Who is allowed to fail and who isn’t?
https://twitter.com/texasrunnerDFW/status/1626642776258449425
EVERYTHING WRONG WITH OUR HOUSING MARKET IN ONE ARTICLE
“Matthew Hughes, a broker, spent about a year helping a couple in their late 20s who at first wanted to buy a two-bedroom downtown. But Dad was paying, and Dad had opinions”
https://twitter.com/texasrunnerDFW/status/1626611856579215360
Ron Butler
@ronmortgageguy
ALL BAD NEWS: Fixed Mortgage Rates Headed Back Up
We have had 2 increases in the same week from a couple of small Non-Bank Lenders
As the Hopium is cut off and the withdrawal symptoms start we will see some sad faces in RE next month
The Pivot talk is DEAD
https://twitter.com/ronmortgageguy/status/1626599850803339264
Everybody says the market is picking up, but is it? Here’s Brampton detached only sales per day 2/1-2/15
2023 = 6 sales per day
2022 = 17
2021 = 22
2020 = 13
2019 = 9
2018 = 9
2017 = 15
2016 = 12
2015 = 11
2014 = 9
2013 = 10
2012 = 10
https://twitter.com/randyselzer/status/1626466795539292160
Home buyers are buzzing again. But where are the actual sales? “While interest is up, realtors and consumers struggle to gauge the market. Activity may resume in the second half of the year, says real estate board.”
https://twitter.com/RE_MarketWatch/status/1626577504399130627
“East Palestine”
Secretary of Transportation Pete Buttplug hasn’t visited East Palestine because he’s too busy complaining about too many white men working in construction.
Secretary of Transportation
He’s meeting or exceeding job expectations.
Secretary of Transportation Pete Buttplug hasn’t visited East Palestine
Give him a break!
Once he gets done “Chest Feeding” his kid he will get right on it.
LOL
“Everybody says the market is picking up”
How can you tell when a relitter® is lying?
Some kind of Marxist word salad going on here:
“It saddens me to hear that people feel harmed by the word cisgender. Is the creation of the word to blame? No. Cisgender is just a straw man. It is easier to attack a word than to address the reasons people feel intimidated by discussions of gender identity. The word is a threat because it linguistically separates biological sex from socially constructed categories of “woman” and “man.” That gender is a social construction undermines heteronormativity, critical to defending patriarchal sex roles and procreation. It is not surprising that those who have garnered dominance and privilege from traditional gender roles feel threatened and compelled to lash out. These ideas are not new. But the word cisgender repackages them in a way that is more potent and visceral.”
https://www.huffpost.com/entry/what-cisgender-means-transgender_n_63e13ee0e4b01e9288730415
I don’t know WTF I just read here, but I do know, and we all know, that your property taxes are paying to promote this in the public schools.
Easy solution- stop referring to gender, just use biological sex. You know, whatever that idiotic doctor said a person is when he/she looked between one’s legs. QED.
“I don’t know WTF I read here..”
It’s all about social engineering the wrong answers.
Instead of examining the screwed up water, food supply and toxins , fake vaccines, etc that we are exposed to, they just want to control the narrative.
It’s all about normalizing the break down of society , so the One World Order takes over. Its all about destroying society by fake science and fake narratives so this One World Order group of genocidal and psychopathic creeps can enslave the human race.
.
They want to use technology for evil and force it on the human race.
They have obtained power by the the monopoly model and infiltration and corruption of global governments, to collude with their power grab ..
They use methods used by the villains of the past like Hitler, Stalin and Mao, while they claim they are saving the planet from climate change , invisible viruses and useless eaters …..
They are the biggest threat to the human species, animals, and plant and earth itself ….
They come out in the open and have declared WAR on most the globe with probable collusion with China or others and the Corrupt United Nations.
In early 2023 194 Countries, including Joe Biden signed a threaty with WHO that the WHO gets to dictate what the responses will be to next panademic.
Joe Biden didn’t get approval from Congress/Senate to usurp the US Constitution and give this kind of power to the corrupt WHO.
So, as they are sitting up for the next panademic, which will probably be bird flu, the WHO could lock down globe, make you wear masks, mandate vaccines, take you to prison, declare a police state etc.
Talking heads figure they have this planned for 2024, no doubt to also affect the election again. Its necessary for One World Order to have the medical tyranny to proceed with the One World Order/ Great Reset.
They are not going to stop until the people stop them I guess.
More celebs ditching their palatial estates
While $55 million is nothing to sneeze at, the Beverly Park compound was first on the market for $87.5 million before it’s price was reduced to $79.5 million in December.
https://www.yahoo.com/entertainment/mark-wahlberg-sells-los-angeles-032341472.html
IDEAS
Everything Is About the Housing Market
High urban rents make life worse for everyone in countless ways.
By Annie Lowrey
A crumbling house in the middle of a construction site and highway
Mimi Plumb / Robert Koch Gallery
FEBRUARY 18, 2023, 6 AM ET
I have a gripe about San Francisco: The bagel stores open too late.
My neighborhood, Bernal Heights, has a number of excellent purveyors. The tasty BagelMacher opens at 8:30 a.m. on the weekends, at which point my sons have been up shrieking and destroying things for three hours. Chicken Dog, which sells the best salt bagel I have had in California, opens at the downright brunch-ish hour of 9 a.m. I come from the Bagel Belt, to co-opt a term. In my mind, bagel shops open at 6 a.m. That’s standard. That’s how it works. You should be able to feel caffeinated and carb-loaded at 6:03 a.m. every day of the year, including Christmas. But not here in the Bay Area. And the housing shortage is to blame.
…
https://www.theatlantic.com/ideas/archive/2023/02/us-housing-market-shortage-costs-san-francisco-cities/673121/
What a smug, entitled piece of trash. She must be from NYC.
Why does this not surprise me?
“In 2018, Lowrey published her first book, titled Give People Money: How a Universal Basic Income Would End Poverty, Revolutionize Work, and Remake the World”
She must be from NYC.
Hey!
If the everything bagel with schmear and lox fits…
Spot on! I should know, I’m a former NY’er and still bagel snob (and pizza). 😁
Street food in NYC. If you can’t beat em eat em!
https://www.bitchute.com/video/ocYbXiXz2LPG/
12 seconds.
Street food in NYC.
Rule #1: Don’t eat Street Meat!
“Annie M. Lowrey (/ˈlɑːri/;born July 22, 1984) is an American journalist who writes on politics and economic policy for The Atlantic. Previously, Lowrey covered economic policy for the New York Times and prior to that was the Moneybox columnist for Slate. She was also a staff writer for the Washington Independent and served on the editorial staffs of Foreign Policy and The New Yorker. She is a leading proponent of universal basic income. Lowrey attended Harvard University. While at Harvard, she wrote for the Harvard Crimson. Lowrey is married to Ezra Klein, the co-founder of Vox and currently a columnist and podcast host at the New York Times.” —wiki
White liberal women are the enemy of the American people.
White liberal women are the enemy of the American people.
AMEN!
“White liberal women…”
That’s a huge cohort.
They are a huge driver behind all of the woke policies.
I reckon so.
For now. They’re not breeding.
Their best feature!
They’re not breeding.
The silver lining for so many of these idealogues.
Someone posted yesterday that Russia lost control over Crimea in the 1850s. To end the Crimean war, Russia agreed to return occupied Turkish areas to Turkey and Britain and France agreed to return occupied areas of Crimea back to Russia. Britain and France, entering the war on behalf of Turkey, expected a quick victory but instead ended up in a bloody horrific war of attrition that lasted two and a half years and failed to defeat the Russians.
Also it was stated that controlling airspace over Ukraine would not be a problem. Since the US cannot put an aircraft carrier in the Black Sea for obvious reasons, the closest airbases would be in Poland or Romania. The Ukraine is almost 800 miles wide. This presses the limits of the tactical range of F16s.
There were other comments regarding military technology the west would employ if it got “serious”. The west is already serious and it grossly miscalculated. Lastly, technology is one thing but the people who deploy it are another: Tony Blinken, the architect of the withdrawal from Afghanistan and enthusiastic proponent of US misadventures in Syria and Libya. Then you have Victoria Nuland, Mark Milley, and Lloyd Austin. Are these the master strategists that are going to inflict a decisive defeat on Russia? The Russians has been fighting over this territory on and off for over a thousand years including wars against some of most blood thirsty empires in world history. This idea that we can win a limited proxy war in a few years against Russia on that territory is delusional and insane.
“The Russians has been fighting over this territory on and off for over a thousand years including wars against some of most blood thirsty empires in world history.”
Other than being seduced by your neighbor’s wife fighting wars is the other favorite pastime of humanity.
“This idea that we can win a limited proxy war in a few years against Russia on that territory is delusional and insane.”
+1
The United States has over $31 trillion in debt. The only ones “winning” this war will be Lockheed, Raytheon, etc and in the projected reconstruction, Blackstone.
10% for the Big Guy, and billions syphoned off by Zelensky and his cabal.
The American taxpayer only loses.
“To Cover Rising Costs, Hunter Now Charging 15% For The Big Guy”
https://babylonbee.com/news/to-cover-rising-costs-hunter-now-charging-15-for-the-big-guy
“10% for the Big Guy, and billions syphoned off by Zelensky and his cabal.”
https://youtu.be/qOfkpu6749w?t=214
Now agents hear, ‘This is ridiculous. I wouldn’t consider that offer.’
Stand yer ground, greedheads. This listing is special. Don’t be giving yer shacks away!
‘A lot of the iBuyers are losing money on their homes and they’ve had them on the market 200+ days.’”
Die, speculator scum.
Yet companies and speculators have poured billions into parcels of internet land in a short-lived gold rush.
Such ludicrous speculation was only possible in a world awash with Yellen Bux.
companies and speculators have poured billions into parcels of internet land in a short-lived gold rush.
I must not have done the right drugs as a kid because I can’t even possibly begin to see how NFTs and internet real estate could ever make any sense.
𝗦𝗮𝗹𝗲𝗺, 𝗢𝗥 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲𝗿 𝟮𝟰% 𝗬𝗢𝗬 𝗔𝘀 𝗕𝗿𝗼𝗸𝗲𝗿 𝗔𝗻𝗱 𝗔𝗽𝗽𝗿𝗮𝗶𝘀𝗮𝗹 𝗙𝗿𝗮𝘂𝗱 𝗕𝗹𝗮𝗻𝗸𝗲𝘁𝘀 𝗪𝗲𝘀𝘁 𝗖𝗼𝗮𝘀𝘁
https://www.movoto.com/or/97308/market-trends/
𝘈𝘴 𝘰𝘯𝘦 𝘤𝘰𝘯𝘷𝘪𝘤𝘵𝘦𝘥 𝘣𝘳𝘰𝘬𝘦𝘳 𝘦𝘹𝘱𝘭𝘢𝘪𝘯𝘦𝘥, “𝘍𝘳𝘢𝘶𝘥 𝘪𝘴 𝘵𝘩𝘦 𝘸𝘢𝘺 𝘵𝘩𝘦 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘸𝘰𝘳𝘬𝘴.”
More LA celebrities voting with their feet.
https://www.dailymail.co.uk/news/article-11732675/Escape-LA-Celebs-flee-high-taxes-crime.html
Remember when the MSM told us Biden would be The Great Unifier?
https://twitter.com/EndWokeness/status/1626634982373326848
when the MSM told us
Hot air up our a$$e$.
New York Times accuses ‘right-wing’ Americans of exploiting Ohio disaster to unfairly ‘sow distrust’ in big government
https://www.americanthinker.com/blog/2023/02/new_york_times_accuses_rightwing_americans_of_exploiting_ohio_disaster_to_unfairly_sow_distrust_in_big_government.html
“New York Times accuses ‘right-wing’ Americans of exploiting Ohio disaster to unfairly ‘sow distrust’ in big government”
– Said no NYT headline ever: “The New York Times-Big Government propaganda industrial complex is ‘sowing distrust’ in the MSM and Big Government.”
– Apparently there haven’t been enough journo layoffs at the NYT yet…
Maher: NYT Is ‘Very Woke’ and Their Newsroom Is ‘Not a Balanced Place’
https://www.breitbart.com/clips/2023/02/17/maher-nyt-is-very-woke-and-their-newsroom-not-a-balanced-place/
Anyone appaulding Bill Maher needs to look below the surface.
Shamrock shakes are back.👍☘️
Shamrock shakes are Mother Nature’s Fat Shaming Smoothies.
Bought a purple shamrock plant today!
The Southern Maryland Chronicle. “ ‘The market over the past few years has not been sustainable, and we are starting to see some of that dial back,’ SMAR 2022-23 President Michael Funk said.”
– So, way back in 2010, the Fed started it’s ‘wealth effect’ policies to juice the economy after the banking and housing crisis (crash) of the GFC, that they caused. They didn’t stop until Jan., ’22.
– Now they’re reversing these policies, but only because of the 4 decade high inflation that they caused. Otherwise, it would have been “business as usual,” kicking the can down the road.
– My question is: What’s now going to replace The Everything Bubble to keep the eCONomy afloat?
– Good, high paying, manufacturing jobs were off-shored over the past several decades, and mostly to China, allowing them to become a global force to now be reckoned with. TPTB decided that to avoid “civil unrest” at home, due to high unemployment from the jobs vacuum left in the U.S. due to off-shoring, that they would “give” us RRE to fill the economic void. How nice!
– However, it turns out that buying and selling shacks to each other, doesn’t really produce anything, and it certainly doesn’t produce prosperity or actual wealth, but it does create asset bubbles, and huge, steaming piles of debt. Just look to our neighbors in The Great White North for an even more extreme example of this policy.
– Now that The Everything Bubble is bursting, what’s going to keep the eCONomy running? I don’t see anything on the horizon. That could be a problem, but I’m sure it’s fine. /s
Now that The Everything Bubble is bursting, what’s going to keep the eCONomy running? I don’t see anything on the horizon.
Especially considering how the gooberment loves to roll logs and other obstacles in front of the productive.
“Now that The Everything Bubble is bursting, what’s going to keep the eCONomy running?”
I’m hearing great things about ChatGPT and its ability to “revolutionize the workplace”. That’s gotta be a good thing, right?
I’m going to take a wild guess here and say it’ll create higher productivity and higher profits for the elites, fewer jobs and lower wages for everyone else.
Their answer is 3rd world invaders. By the millions. Think of all the new demand! They also help to soak up a bunch of the money sloshing around and they are a convenient way to covertly inject more stimulus without most people noticing. By the time they all get properly settled, the system will be ready for the next housing bubble. Try not to get trampled.
Is it bad for relitters to target black families to catch themselves a falling knife in a real estate bust?
I recall lots of accusations last time about predatory lending to minorities. I guess it is not different this time.
Yahoo
Bankrate
Should I buy a house now, or wait?
David McMillin
Thu, February 16, 2023 at 1:00 PM PST·8 min read
Real estate agent holding clipboard greeting smiling african american couple in front of modern looking home
Noel Hendrickson/Getty Images
Buy now, or wait until 2024? That’s the question prospective homeowners are struggling to answer in today’s housing market. Home prices skyrocketed throughout the pandemic, and the Federal Reserve’s work to tame inflation has sent mortgage rates soaring, too. That combination is leading many would-be buyers to pick the “wait” side of the equation. In fact, according to the Fannie Mae Home Purchase Sentiment Index released at the close of 2022, only 21 percent of consumers believe it’s a good time to buy a house.
However, things are starting to look better for buyers in many parts of the country. A January 2023 report from real estate company Knock predicts that 36 U.S. markets will become buyer’s markets by the end of the year — including plenty of desirable places like Phoenix, Denver, Dallas and Las Vegas. Prices are already starting to decline, or at least to increase at a lower rate, and many experts foresee that remaining the case all year.
So, is it time to buy a home? Or is it better to wait on the sidelines in the hopes that prices or rates see a significant drop soon? The decision ultimately comes down to your finances. Here are some key considerations to help determine the way forward.
Should I buy a house now?
If you buy now, you can start building equity immediately. That’s true no matter which way the real estate market is leaning at the time. A key point for today’s market, though, is that buying now means avoiding the potential for additional mortgage-rate increases later.
“If a buyer finds a property they would like to call home, they should not delay,” says Stacey Froelich, a broker with Compass in New York City. “You cannot time the market, and a home should be a long-term investment. In the end, higher mortgage rates will cost a buyer more monthly if they are financing.”
…
https://finance.yahoo.com/news/buy-house-now-wait-210027936.html
“If you buy now, you can start building equity immediately.”
Does that work even when prices are falling at more than 10% a year with no end in sight to price declines?
building equity
“Equity” means the same outcome as stupid white people.
Bear when I was a paralegal years ago i wouldn’t exactly call it predatory lending even though it probably was, i would call it excited black and Hispanic greedy home loaners who were excited into taking on debt at any cost. There was no way to talk people out of it.
It isn’t called predatory lending at the point when excited people are falling all over each other to sign up for it.
Once the dust settles on the ensuing bust, those who lost money on their bad gambling decisions will happily agree that it was the result of predatory lending.
3sidedstory 🇺🇲
@3sidedstory
Nancy Pelosi’s daughter Alexandra to a January 6th defendent she interviewed to be in her documentary: “The Shaman did noth(ing)…. What did the Shaman do? He stood there. The Shaman got how many months….forty one!!”
https://twitter.com/3sidedstory/status/1626594704119975939?s=20
Another woke rag we used to read growing up around NYC:
On Saturday, the former president himself claimed, with no evidence, that news of his planned visit had prompted the Biden administration to finally send a disaster relief team to the beleaguered city.
https://www.motherjones.com/politics/2023/02/east-palestine-donald-trump/
Steve Kirsch — Michael Huang, MD in California has treated THOUSANDS of vaccine injured (2/17/2023):
https://stevekirsch.substack.com/p/michael-huang-md-in-california-has
Comment on the thread:
“There MUST be charges. Charges against those directly involved in fomenting this genocide, as well as charges against all of those who were indirectly involved in this genocide. The Dr. Mengeles, the Kamp Kommandants of the current era. That would include all of those doctors who are refusing to follow the science, act professionally, and refuse to go along with these latter-day Nazis. Once charges have been laid – and there are going to be tens of thousands – there must be trials, and if convicted, well, just what is the penalty for culpable homicide? Charges of this magnitude can only be handled effectively by something we devised during the first genocide perpetrated on the world by the Nazis. It’s called a Nuremberg tribunal. Let’s get on with it. People are dying. A clear message needs to be sent to those who are inclined to participate in this ongoing genocide.”
Sounds about right.
vaccine injured
A friend’s mom is experiencing cardiac dysrhythmias. Unsurprisingly, her doctors are blaming it on COVID rather than the jabs. I informed my friend (a foreign trained MD) about the molecular WMDs.
Stroppy’s Music Quiz – 17 Feb 2023:
https://www.bitchute.com/video/fMTYLzyTCUBH/
Mayorkas: ‘Nation of Immigrants’ Narrative Is More Important than Congress’s Law
NEIL MUNRO
18 Feb 2023
The 1950s “Nation of Immigrants” narrative is more important than Congress’s laws, according to Alexandro Mayorkas, who is President Joe Biden’s pro-migration border chief.
https://www.breitbart.com/immigration/2023/02/18/mayorkas-nation-of-immigrants-narrative-is-more-important-than-congresss-law/
That’s a pretty ballsy move of Mayorkas.
“It is hard to know what the American literary icon would have made of the metaverse, but the investing maxim surely does not apply to cyberspace, where land is infinite. Yet companies and speculators have poured billions into parcels of internet land in a short-lived gold rush. Now, they are suffering through the market’s first downturn.”
He’s not around, but I might be able to pinch hit for him:
‘October: This is one of the peculiarly dangerous months to speculate in scams. The others are July, January, September, April, November, May, March, June, December, August and February.’