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If I Wait Six Months, Will The Price Be Lower?

A report from Realtor.com. “The real estate game is at a stalemate that shows no signs of budging anytime soon, with neither buyers nor sellers willing to make the first move. Buyers have little incentive to lead the way. Meanwhile, home sellers—who, a mere year earlier, enjoyed packed open houses and bidding wars—are now battling to stand out from hordes of other sellers, as the pool of available homes soared 70% higher for the week ending Feb. 11 compared with the same period last year. ‘January data shows that the share of home sellers making a price reduction was more than twice as large as one year ago,’ notes Realtor.com® Chief Economist Danielle Hale. Indeed, 15.3% of sellers in January slashed their prices compared with 6% a year earlier.”

“Home sellers should size up the glut of homes on the market and, rather than price high and trim that number later, price their homes affordably right as they hit the multiple listing service—and catch a buyer’s eye from the get-go when their listing is fresh and in demand.”

The Los Angeles Times in California. “Stephen Jackson finally called off his search in 2021 when someone outbid him for a Tarzana condo by $25,000 — and paid in cash. When his roommate decided to move in October, Jackson chose to look again, this time seeking deals swirling in the crosscurrents of the real estate fallout. Last month, he made an offer on a two-bedroom condo in downtown L.A. that had languished on the market for 72 days. At $20,000 below the $450,000 list price, his offer — the only one — was accepted. ‘All my friends were shocked I bought a home right now, and I was like, ‘Why wouldn’t you?’ Jackson said.”

“Overall, L.A. County home prices have fallen 3% to 14% since the peak in pricing last year, according to a review of various platforms that track prices in different ways. Given the uncertainty, would-be home buyers have much to ponder. If they buy now and prices keep falling, they might not have enough equity to sell and could be vulnerable to a foreclosure if they lose their jobs.”

“Jeff Lazerson, president of Mortgage Grader in Laguna Niguel, said he thinks buyer skittishness is why many deals fall apart in escrow. ‘They are worried,’ Lazerson said of buyers. ‘It’s, ‘If I wait six months, will the price be lower?'”

Silicon Valley in California. “An eye-catching office tower proposed for a prime site in downtown San Jose near the footprint of Google’s future transit village awaits final city approval even as the tech industry slump haunts the region. Google, however, recently revealed that it has launched a reassessment of the timeline for when it would begin and complete the first phase of the new transit-oriented neighborhood. San Jose officials have told Joint Venture Silicon Valley that sales tax revenue, specifically in the downtown district of the Bay Area’s largest city, is only at about 35% of what the revenue was prior to the pandemic, according to Russell Hancock, president of the think tank.”

“The rise of remote work — and the exit of employees from their regular offices — has eroded the respective economic bases of the downtown districts in San Jose, Oakland and San Francisco, according to a report that’s part of the newly released 2023 Silicon Valley Index. Numerous office workers simply are no longer present in many offices that are located in downtown areas. ‘We are seeing the effects on our downtowns,’ Hancock said during a recent presentation to discuss the index. ‘The downtowns are where we are seeing a crisis.'”

From The Street. “Elon Musk Grieves the Demise of San Francisco. The billionaire, often critical of the mecca of tech, is saddened to see downtown San Francisco emptying out. The billionaire entrepreneur has a complicated relationship with the mecca of tech. He criticizes her very violently because she represents, according to him, the bastion of the ‘woke mind virus,’ which he has made mission to defeat.”

“‘So city of SF attacks companies providing beds for tired employees instead of making sure kids are safe from fentanyl,’ the billionaire posted on Dec. 6 with a link to an article about a dad who revealed that his 10-month-old baby suffered an accidental fentanyl overdose at a San Francisco playground. ‘Where are your priorities @LondonBreed!?'”

The Fort Worth Report in Texas. “Price increases abating? Home inventory up? In January, the median price of a home in Fort Worth was $320,000, down $20,000 from December. What is up, notes Bart Calahan, 2023 president of the Greater Fort Worth Association of Realtors., is the housing inventory. Those are good signs for Realtors and for buyers, he said. ‘From my viewpoint, the market is stabilizing, which hopefully means the volatility is behind us,’ said Calahan.”

The Real Deal on Florida. “An oceanfront home in the Altos Del Mar neighborhood of Miami Beach traded for $20 million, a 20 percent discount off the initial asking price. The property last sold in 2016 for an undisclosed price. The home has been on and off the market for two years. It was listed for $25 million in March, and the asking price was reduced to $24.5 million in July. Price cuts are becoming more common due to the market slowdown, brokers say. In December, a hedge funder sold his waterfront Miami house for $14.5 million, about 27 percent less than the initial asking price of nearly $20 million.”

The Times Union in New York. “The famed rococo stone mansion on North Broadway hit the market last September for $17.9 million. More than five months later, after one contract to purchase the palatial property fell through, Palazzo Riggi’s listing price has dipped by nearly $6 million. The new listing price for the home owned by Saratoga Springs socialite Michele Riggi dropped to $12 million last Thursday. Listing agent Margie Philo added that Riggi decided to reduce the price as she looks to downsize after the death of her husband Ronald Riggi. She also recently lowered the price of her Lake Placid estate, known as ‘Casa Del Paradiso,’ from $31 million to $15 million.”

From WTOP News. “Signs point to more for sale and more bargaining power for buyers. More for sale doesn’t necessarily mean more home sellers, but more residential properties sitting on the market longer. In January, the typical home that sold had been on the market more than twice as long as sales from a year earlier. ‘Thirty days is now the typical days on market. That means we are going to start to see inventory buildup as these homes linger on the market — and that will bring more choices for buyers as we head into the spring,’ said Lisa Sturtevant, chief economist at mid-Atlantic listing service Bright MLS.”

“That inventory buildup has already started, as the number of active listings in the D.C. metropolitan area in January — 5,177 — was 42.4% higher than January 2022, according to Bright MLS data. The ‘months of supply’ figure is currently 88.9% higher than it was a year ago. ‘You are going to find a little bit more choice. Buyers are certainly going to have more leverage, both on price, as well as asking for seller concessions around home inspections or even closing costs,’ Sturtevant said.”

From CBC News. “Home sales in January were the lowest for the month since 2009 and down 37.1 per cent compared with a year ago, the Canadian Real Estate Association (CREA) said. The drop came as January sales also fell on a month-over-month basis, as they dropped three per cent compared with December. ‘The market we are in is a bit of a roller-coaster these days,’ said Varun Mathur, a real estate broker. ‘A lot of sellers are kind of in a wait-and-watch mode. They would like to get the prices their neighbours got last year. They realized they might not get it right now; a lot of them are not compelled to sell.'”

“The housing market is still in correction mode, said Robert Hogue, assistant chief economist at RBC in Toronto. ‘Activity wise, I think we’re probably not that far. It’s simply because — well, in large part because — we can’t fall that much lower,’ he said. ‘We are at fairly depressed levels, something along the lines of what we saw back during the global financial crisis of [2008] or 9, if we exclude the lockdown period of the spring of 2020. But in terms of prices, we think the bottom is a little bit further away, and probably at best around summer time and maybe a little bit later because the market is still adjusting to higher interest rates.'”

“With new listings up and sales down in January, sales-to-new-listings eased back to 50.7 per cent, CREA said. The actual national average home price was $612,204 in January, down 18.3 per cent from January 2022.”

The Telegraph. “Wealthy homeowners are slashing hundreds of thousands of pounds off their asking prices to sell properties as the downturn hits the top of the housing market. Six in 10 homeowners selling property worth £1m or more in January were forced to cut their asking prices before they could find a buyer, according to analysis by Hamptons estate agents. This share has soared from 39pc in June to hit its highest level since January 2021, when the whole of Britain was in the third Covid lockdown. It was far higher than the 45pc average across the whole market.”

“High mortgage rates have brought a wave of distressed sales – particularly among landlords in London – just as buyers have seen their borrowing power dramatically reduced. James Waight, of John D Wood estate agents, gave the example of a house in Chelsea, West London, that had an asking price of £5m and was reduced to £4.5m before it went under offer – a drop of £500,000. He added: ‘In another case, we had a flat that we reduced from £995,000 to £950,000, but that still didn’t trigger interest, so we reduced it again to £895,000.’ Mr Waight said the property then got multiple offers – but only after a 10pc price cut.”

“Mr Waight said: ‘There is a big issue in the buy-to-let sector, particularly among accidental landlords, as landlords get hit by higher mortgage rate.’ Buy-to-let investors coming to the end of fixed rate deals must remortgage at rates that are double what they are used to. David Hill, of Marsh & Parsons estate agents, said: ‘Some people are definitely struggling. High mortgage rates mean their profits have diminished rapidly.'”

“Jean Jameson, of Foxtons estate agents, said: ‘A few more landlords are coming in to pick up the distressed landlord stock. They know that because they are buying from a distressed seller they can knock off 10pc or 20pc.’ But there are also distressed sales across the market. Mr Jameson added: ‘It’s absolutely across all of our divisions. Maybe not all of them have to sell today, but there are homeowners who can’t afford the mortgage rates, and the cost of living crisis means people are really stretched across everything.'”

From ABC Business. “Life sure can throw some unexpected curveballs. Just ask yourself this: How on earth did a mild mannered, softly spoken, incredibly polite intellectual with a permanently fixed boyish grin become an object of derision? That’s the incredible, true life tale of the transformation of Philip Lowe. Once the celebrated governor of the Reserve Bank of Australia, he’s now regularly portrayed as the evil mastermind behind our impending economic downfall, steering a generation of young Australians towards financial doom.”

“He’s not entirely blameless for his situation, given the mistakes and missteps he has made. Not the least of them was putting a date (yes, with qualifications in place, but a date, nonetheless) before rates finally would rise. And there have been numerous other failings within the RBA over a long period of time. Its forecasting has been abysmal for years and, prior to the pandemic, it failed to lift inflation into its target band, leaving the economy running too cold. Then, in the aftermath of the shutdowns, it under-reacted to the inflation spike.”

“Worst of all, it allowed its reputation to be shredded by an ill-fated attempt to muscle interest rates lower — an episode that backfired spectacularly. But if there is something even more remarkable about all this, it is that Dr Lowe is in very good company. The RBA isn’t an outlier in this department as almost every other central bank around the world has been almost as bad. That raises some important questions. Is the era of all powerful, unelected central banks drawing to a close? Has monetary policy dominance run its course and will governments work their way back into the frame when it comes to economic management?”

“They’re questions unlikely to be answered, or even asked, by the federal government’s inquiry into the running of the RBA — to be handed to the Treasurer next month — which is being run by a, you guessed it, a central banker.”

“According to Dr Lowe, at least 75 per cent of our inflation problem is from external forces: supply issues we can’t do anything about and that rate hikes won’t fix. Then, last Friday, under questioning before a Parliamentary Committee, the governor dropped this bombshell. ‘Our models are not well suited for supply shocks,’ Dr Lowe said. ‘It just can’t deal with supply shocks.'”

“That’s hardly comforting. Essentially, the RBA governor has admitted he is flying blind. And the RBA, in an effort to restore professional credibility, is being goaded into ever more action by money markets and other central banks. Already, worrying signs are emerging. Westpac warned on Friday that almost half its home loans were written using mortgage rate stress tests that soon will be exceeded. ANZ chief executive Shane Elliott had a similar warning, that the buffers his bank had built in were being breached and that we now ‘were at a very difficult pivot point.'”

“Until now, home loan defaults have been low. But that may change once an estimated 880,000 households suddenly find themselves paying massively more for their mortgage in the next few months. All up, 1.2 million Australian households will find themselves in this predicament during the next two years.”

“Shortly before he became deputy governor a decade ago, Dr Lowe addressed a room full of economists eager to discover just what the candidate most likely was all about. He didn’t mince words. ‘The unfortunate reality is that in the area of forecasting, it is normal for forecasts of economic activity to be wide of the mark,’ Dr Lowe said. They thought it was pretty funny. As it turned out, he was entirely on point. From that moment on, the RBA forecasts about Australia’s economy ended up so wide of the mark that it really wasn’t funny at all.”

“So, let’s just take stock of where we are. With a shocking record on forecasting, the RBA has just admitted its models are ill-equipped to handle the kind of inflation crisis we are enduring. Close to one million households are facing peril in the next few months as their loan repayments double in the wake of an unprecedented rise in interest rates. But the RBA now is warning of even more tough action in the months to come. A double or nothing bet? Or a time for thought and caution? Dr Lowe’s legacy, and the reputation of the institution he runs rests on the decision.”

“Across the globe, central bankers are nursing bruised egos. Their reputations — from Jerome Powell, the chairman of the US Federal Reserve down — are in tatters. When inflation began to soar in late 2021, they all sang in unison. They even used the same lyrics. Inflation was transitory, they said, a natural reaction to the sudden reopening of the economy. By the time they realised inflation was entrenched, it was almost too late and they were forced to act with undue haste with a monetary wrecking ball that now is wreaking havoc across the developed world.”

Related Posts

Someone Got Hosed

A report from the Globe and Mail. "It’s a troubling question that has been echoing…

The Housing Market Appears To Have Officially Crashed

https://www.youtube.com/watch?v=tizB9-tggyI https://www.youtube.com/watch?v=fccD0gXHib0 https://www.youtube.com/watch?v=PTPHbPyXtpk https://www.youtube.com/watch?v=5H5NWzoZ68s https://www.youtube.com/watch?v=gVRNa3hNqvY https://www.youtube.com/watch?v=vJWI9-v1BXA

This Post Has 79 Comments

  1. ‘In January, the median price of a home in Fort Worth was $320,000, down $20,000 from December’

    I posted a video in the previous link comments that wouldn’t embed. At the end was Fort Worth. The worstess of DFW, down 30%. The presenter also pointed out how much each market was up from CCP virus. Yeah, 70-80%. That’s not batsh$t crazy or anything. Which leads to this:

    ‘Activity wise, I think we’re probably not that far. It’s simply because — well, in large part because — we can’t fall that much lower’

    Here’s the thing Bob: if yer shacks can go up 80% or more, in a little over 2 years, it can go right back down cuz a minor respiratory illness did not cause this. If you don’t believe me, look at the free fall that’s happened since last spring.

    1. What’s comical is when you pull up a Zillow Zestimate in any of these areas, they don’t even remotely show this level of decline. It seems the same algo that caused Zillow to lose its asz flipping houses has not been fixed.

      1. Don’t you think that Zillow has an incentive to keep showing higher prices? After all, they are dependent on REIC for income, otherwise it will be bankrupt in no time.

  2. ‘That inventory buildup has already started, as the number of active listings in the D.C. metropolitan area in January — 5,177 — was 42.4% higher than January 2022, according to Bright MLS data. The ‘months of supply’ figure is currently 88.9% higher than it was a year ago. ‘You are going to find a little bit more choice. Buyers are certainly going to have more leverage, both on price, as well as asking for seller concessions around home inspections or even closing costs’

    There’s a graphic in this link that has DC down 15% and Falls Church in crater. I guess Lisa is just lumping Maryland and Virginia into the DC sh$thole now, which nobody will care about.

  3. 𝗗𝗮𝗹𝗹𝗮𝘀, 𝗧𝗫 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲𝗿 𝟮𝟭% 𝗬𝗢𝗬 𝗔𝘀 𝗦𝗲𝗹𝗹𝗲𝗿𝘀 𝗧𝗮𝗸𝗲 𝗧𝗵𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗕𝗲𝗮𝘁𝗶𝗻𝗴 𝗢𝗳 𝗧𝗵𝗲𝗶𝗿 𝗟𝗶𝘃𝗲𝘀

    https://www.movoto.com/tx/75211/market-trends/

    𝐴𝑠 𝑜𝑛𝑒 𝑟𝑒𝑎𝑙 𝑒𝑠𝑡𝑎𝑡𝑒 𝑒𝑐𝑜𝑛𝑜𝑚𝑖𝑠𝑡 𝑠𝑡𝑎𝑡𝑒𝑑, “𝐴 ℎ𝑜𝑢𝑠𝑒 𝑖𝑠 𝑎 𝑟𝑎𝑝𝑖𝑑𝑙𝑦 𝑑𝑒𝑝𝑟𝑒𝑐𝑖𝑎𝑡𝑖𝑛𝑔 𝑎𝑠𝑠𝑒𝑡 𝑡ℎ𝑎𝑡 𝑒𝑚𝑝𝑡𝑖𝑒𝑠 𝑦𝑜𝑢𝑟 𝑤𝑎𝑙𝑙𝑒𝑡 𝑒𝑣𝑒𝑟𝑦 𝑑𝑎𝑦 𝑖𝑡 𝑜𝑤𝑛𝑠 𝑦𝑜𝑢.”

    1. March is going to be an epic YOY loss! In 2022 average sq ft was $450. Movoto’s latest update showing Jan 2023 is $189 per sq ft.

  5. So being in hock for 30 years at a rate you know is a far better deal? whooo ha!

    Buy-to-let investors coming to the end of fixed rate deals must remortgage at rates that are double what they are used to.

  6. A reader sent these in:

    John Wake

    Lastest “Arizona Real Estate Notebook”. “Worrisome News About the Phoenix Real Estate Market”

    https://twitter.com/JohnWake/status/1627451109219659777

    Rental Vacancy Rates in Phoenix and Las Vegas at the HIGHEST levels in over 6 years according to Apartment List

    https://twitter.com/GRomePow/status/1627442833606189056

    The Kobeissi Letter

    Over the last 3 months:
    1. Household debt hit a record $16.9 trillion
    2. Credit card debt hit a record $986 billion
    3. Mortgages hit a record $11.9 trillion
    4. Auto loans hit a record $1.6 trillion
    5. Student loans hit a record $1.6 trillion
    How can this possibly end well?

    https://twitter.com/KobeissiLetter/status/1626980415238971392

    The Kobeissi Letter

    Not to mention we have the fastest rising interest rates in history. New car loan rates nearing 10%+, mortgages back above 6% and credit card rates are nearing 25%.

    https://twitter.com/KobeissiLetter/status/1626981844183924737

    Lyn Alden

    According to the Taylor Rule, Powell should have interest rates at 10.2% currently. The current Fed is considered hawkish, but rates are still lower than trailing inflation, and less than half where the Taylor Rule says they should be.

    https://twitter.com/LynAldenContact/status/1627026513077108737

    If housing inventory is so low, why are days on market skyrocketing?

    https://twitter.com/GRomePow/status/1627395501523075072

    How long does the U.S. consumer spending spree last? (advance monthly sales eclipsed $600 billion again in Jan 2023)

    https://twitter.com/saylor_go_brrr/status/1627377855981027333

    Only 21% of homes for sale in the US sold above their final list price in the last 4 weeks, down from 40% a year ago. This is the lowest % since March 2020.

    https://twitter.com/charliebilello/status/1627370329201954817

    Borrowings via credit cards and unsecured personal loans, such as buy now pay later loans, are increasing at a double-digit pace. Auto lending is also booming. Borrowers with low credit scores, who also tend to be lower income, are taking on debt at a notably prodigious pace.

    https://twitter.com/Markzandi/status/1627341166336262144

    CMBS volume down 85% this year.

    https://twitter.com/jdmiser/status/1627317670377885703

    This week, Norfolk Southern, $NSC, trains derailed in the town of East Palestine, Ohio, which spilt vinyl chloride in the area. and caused citizens to flee and wildlife to die. The $55 billion dollar company has offered the town $25,000, or $5/person, for the accident.

    https://twitter.com/unusual_whales/status/1627352562297872389

    Great way to start the new year…U.S. Large bankruptcies in January touched the highest since 2010.

    https://twitter.com/AlessioUrban/status/1627431996715589634

    🧵M3 Austin Dispatch

    1) Astonishing, unbelievable, unprecedented. Empty, empty castles everywhere in hill country. Bubble is too “light” a word to describe this oncoming storm – avalanche, tsunami – and no amount of “hope” of a soft landing, no landing will change this outcome

    https://twitter.com/m3_melody/status/1626926316179144704

    The recent .50% run higher definitely zapped out some weekend energy. President’s weekend usually marks the kick-off of the spring selling season with inventory increasing from here. The next 6-weeks will be fun to watch!

    https://twitter.com/AdvisorJohn/status/1627482225699614722

    This is what should happen to whoever invented ‘CAPTCHA’

    https://twitter.com/RudyHavenstein/status/1627455125274124288

    Check all boxes with severed body parts

    https://twitter.com/Sorenthek/status/1627456615824740353

    John Wake

    Phoenix: According to Redfin, investor purchases in the 3rd quarter of 2022 were down 49% from the 3rd quarter of 2021. Nevertheless, investor purchases in the 3rd quarter of 2022 were still 2.5 times the purchases in the 3rd quarter of 2001.

    https://twitter.com/JohnWake/status/1627445294886715399

    Jerome Powell’s greatest hits:
    1) “Transitory Inflation” ❌
    2) “Disinflation Process” ❌
    3) “Soft Landing” ❓

    https://twitter.com/TheMaverickWS/status/1627430461655113728

    Investor purchases in canary cities are absolutely collapsing

    https://twitter.com/GRomePow/status/1627419486520492033

    I’m a landlord. I sold 1/4 of my portfolio in 2021. It was obviously the top of the cycle. I have that money in T-bills. I absolutely would warn people against buying rental property at this stage.

    https://twitter.com/samvanderkamp/status/1627428744410329088

    Going to ZIRP is the last thing the Fed will do. Hurting home prices is not a bug, it’s literally the main feature.

    https://twitter.com/mcspacface/status/1627448055292170243

    “Despite it being winter, AirBnb sides with hosts: ‘We do allow hosts to self-select hot water as an amenity”

    Hot water = an amenity

    https://twitter.com/texasrunnerDFW/status/1627323698188353538

    I’ll Take “Things That Don’t Happen at Hotels for $200 please, Alex”

    https://twitter.com/texasrunnerDFW/status/1627323443409571842

    1. “which spilt vinyl chloride in the area. and caused citizens to flee and wildlife to die”

      Transportation Secretary Pete Buttplug, who’s only qualification is being the “Gay Obama” did not comment on this incident at a recent press conference. Instead, he was complaining about “too many white people” working in construction.

      1. Related article:

        https://www.thegatewaypundit.com/2023/02/america-last-biden-is-in-ukraine-trump-is-heading-to-ohio-strong-reaction-to-secret-trip-to-kyiv/

        This is another reminder to Americans that the Pedo Joe administration is more concerned about Ukraine than it is about U.S. citizens.

        Pedo Joe collected his 10% today, and all of the other “right people” will collect theirs.

        You will never be seen as anything more than cattle to these globalists.

      3. Instead, he was complaining about “too many white people” working in construction.

        Clearly, Secretary Buttplug has never been to a residential construction site. The only white dudes there might be the plumbers and the electricians.

        1. I don’t do much resi besides side work, but in commercial sparkies, plumbers, tinners / HVAC are not all white but most are native English speakers. Framers, drywall, finishers are usually Mexican. Painters come in all stripes, and they’re always going down to their truck to smoke weed all day long.

    2. Borrowings via credit cards and unsecured personal loans, such as buy now pay later loans, are increasing at a double-digit pace. Auto lending is also booming. Borrowers with low credit scores, who also tend to be lower income, are taking on debt at a notably prodigious pace.

      First and foremost, at the very core, this is a credit bubble – the most massive credit bubble in the history of mankind. The FED has failed to even slow it down, let alone rein it in. It is actually accelerating. Yet the FED decided to slow their rate hikes in the face of exploding credit.

      1. Yet the FED decided to slow their rate hikes in the face of exploding credit.

        Not quite a pivot, but teetering close to being one.

        1. It is 100% intentional. All of it. They want inflation. The FED, whose main mandate is stable prices, has decided that inflation is their goal. How can an entity be in direct violation of their mandate and yet go on, unchecked?

  7. “The real estate game is at a stalemate that shows no signs of budging anytime soon, with neither buyers nor sellers willing to make the first move. Buyers have little incentive to lead the way.”

    Anyone who might qualify for a mortgage and might be interested to buy at this point either has stable employment or saved wealth. They are already living somewhere. Time is on their side, compared to deperate sellers who stand to lose more and more home equity wealth by delaying a sale.

    “Meanwhile, home sellers—who, a mere year earlier, enjoyed packed open houses and bidding wars—are now battling to stand out from hordes of other sellers, as the pool of available homes soared 70% higher for the week ending Feb. 11 compared with the same period last year.”

    Sounds like the reverse bidding wars have begun. It’s harder to document, but a great feeling for buyers to have multiple homes to choose from. We are not there yet, as prices are still way too high. Give it five years or so…

    “‘January data shows that the share of home sellers making a price reduction was more than twice as large as one year ago,’ notes Realtor.com® Chief Economist Danielle Hale. Indeed, 15.3% of sellers in January slashed their prices compared with 6% a year earlier.”

    Burgeoning inventories and price reductions belie competition between sellers which would stiffen considerably with further rate hikes and if the long heralded recession materializes. Prospective buyers who don’t wait for this market shift to play out are missing a historic opportunity to enjoy a rare improvement in housing affordability.

    2. 6’1″ white guy wins NBA slam dunk contest during black history month

      This guy is unreal. He’s my height yet he jumps through the ceiling. And his ball handling skills are ridiculous as well.

  10. ‘All my friends were shocked I bought a home right now, and I was like, ‘Why wouldn’t you?’ Jackson said.”

    This knife catcher is too dimwitted to see how screwed he is.

  11. She also recently lowered the price of her Lake Placid estate, known as ‘Casa Del Paradiso,’ from $31 million to $15 million.”

    $16M in ficticious Yellen Bux “value” wiped away just like that. This is starting to get popcorn-worthy.

  12. Given the uncertainty, would-be home buyers have much to ponder. If they buy now and prices keep falling, they might not have enough equity to sell and could be vulnerable to a foreclosure if they lose their jobs.”

    And just like that, FOMO turns to Fear of Getting Schlonged. I can only imagine the sinking feeling all the “winners” of the scamdemic-era bidding wars must have right about now.

  13. “Home sales in January were the lowest for the month since 2009 and down 37.1 per cent compared with a year ago, the Canadian Real Estate Association (CREA) said.

    Is that a lot?

  14. Republican lawmakers from Idaho have introduced a bill that will make it a crime to administer mRNA vaccines in the state, citing safety concerns, which would apply to COVID-19 vaccines manufactured by companies like Pfizer and Moderna.

    “Notwithstanding any other provision of law, a person may not provide or administer a vaccine developed using messenger ribonucleic acid (mRNA) technology for use in an individual or any other mammal in this state. A person who violates this section is guilty of a misdemeanor,” according to House Bill 154 (pdf) presented to the state’s House Health and Welfare Committee on Feb. 15. The bill was introduced by state Sen. Tammy Nichols and Rep. Judy Boyle.

    While promoting the bill before the committee, Nichols pointed out that there have been “more and more concerns rising” about the mRNA vaccines.

    “We have issues that this was fast-tracked, there’s no liability, there’s no access to data, risk-benefit analysis has not been done, there’s no informed consent,” she said.

    Nichols insisted that mRNA vaccines be treated in a “similar manner” to harmful drugs. She pointed out that there are “concerns of blood clots and heart issues” related to using COVID-19 mRNA vaccines which need to be addressed.

    At present, three types of COVID-19 vaccines exist—protein subunit, viral vector, and mRNA. Vaccines produced by Moderna and Pfizer, which have been widely distributed, come under mRNA categorization.

    Around 400 million Pfizer COVID-19 vaccines and over 250 million Moderna vaccines have been administered in the United States.

    According to the CDC, mRNA vaccines use mRNA developed in a laboratory to teach cells in a human body to produce a protein or part of a protein triggering an immune response. It is this immune response that then creates antibodies to fight the SARS-Cov-2 virus.

    State Rep. Ilana Rubel, a Democrat, questioned Nichols about fast-track approvals granted to the COVID-19 mRNA vaccines by the Food and Drug Administration (FDA).

    Rubel asked about the vaccines being initially approved under the “ordinary approval process” and subsequently passing the scrutiny of “normal tests.”

    Nichols responded, “I’m seeing conflicting reports in regard to that. So I’m actually having more information being sent to me to address that particular issue, because I’m finding that it may not have been done like we thought it should have been done or that it would have normally been done for an approval process, as an FDA-approved vaccine.”

    According to data from the U.S. Centers for Disease Control and Prevention (CDC) till November, 25 percent of individuals who were injected with mRNA COVID-19 vaccines were incapacitated the next day, with 8 percent ending up in hospitals or emergency rooms.

    In an interview with EpochTV’s “American Thought Leaders,” Cardiologist Dr. Peter McCullough called it “the most toxic vaccine by the CDC data that we’ve ever seen in clinical medicine.”

    Cardiologist Dr. Aseem Malhotra added, “I think all cardiovascular conditions have got worse because of the vaccine, and anything and everything that can go wrong with the heart has gone wrong with the heart as a result of this mRNA vaccine.”

    Both doctors dismissed the claim of there being a higher risk of myocarditis—an inflammation of the heart muscle myocardium—from COVID-19 infection rather than mRNA vaccines. McCullough pointed out that other vaccines like those for smallpox are also known to cause myocarditis.

    In a Jan. 30 video statement on Twitter, Retsef Levi, a professor at the Massachusetts Institute of Technology, presented his analysis of data from Israel which suggested that there was a 25 percent increase in the cause of “cardiac arrest diagnosis” among youths during the first half of 2021. During this time, the government launched a massive vaccine campaign in Israel.

    Analysis of data from Australia, Scotland, and the UK, also “replicate the data from Israel,” the professor pointed out. “At this point in time, all COVID mRNA vaccination programs should stop immediately,” Levi said in the video.

    “By now, I believe that the cumulative evidence is conclusive and confirms our concern that the mRNA vaccines indeed cause sudden cardiac arrest as a sequel of vaccine-induced myocarditis. And this is potentially only one mechanism by which they cause harm.”

    https://www.theepochtimes.com/idaho-lawmakers-seeking-to-criminalize-injecting-of-mrna-covid-19-vaccines_5069840.html

    1. In January 2021 it was “100% safe and effective” remember that?

      In Autumn 2021 it was get injected or get fired from your job, remember that?

      In October 2022, The Atlantic Magazine called for a “pandemic amnesty” remember that?

      And in the few months after that, the Twitter Files start getting released, revealing the almost three years of PROPAGANDA and LIES.

      Put it all together, and it’s a medical genocide.

      1. If they had followed ‘the science’ (as if there is only one) these deadly injections would have been pulled after the hasty and flimsy initial trials. Any comparative example from history shows that. Yet they pressed it full force. That is criminal. It is also criminal to prevent informed consent. And that’s on you silicon valley.

        The Nuremberg Code

        The voluntary consent of the human subject is absolutely essential.
        This means that the person involved should have legal capacity to give consent; should be so situated as to be able to exercise free power of choice, without the intervention of any element of force, fraud, deceit, duress, over-reaching, or other ulterior form of constraint or coercion; and should have sufficient knowledge and comprehension of the elements of the subject matter involved, as to enable him to make an understanding and enlightened decision. This latter element requires that, before the acceptance of an affirmative decision by the experimental subject, there should be made known to him the nature, duration, and purpose of the experiment; the method and means by which it is to be conducted; all inconveniences and hazards reasonably to be expected; and the effects upon his health or person, which may possibly come from his participation in the experiment.
        The duty and responsibility for ascertaining the quality of the consent rests upon each individual who initiates, directs or engages in the experiment. It is a personal duty and responsibility which may not be delegated to another with impunity.
        The experiment should be such as to yield fruitful results for the good of society, unprocurable by other methods or means of study, and not random and unnecessary in nature.
        The experiment should be so designed and based on the results of animal experimentation and a knowledge of the natural history of the disease or other problem under study, that the anticipated results will justify the performance of the experiment.
        The experiment should be so conducted as to avoid all unnecessary physical and mental suffering and injury.
        No experiment should be conducted, where there is an a priori reason to believe that death or disabling injury will occur; except, perhaps, in those experiments where the
        experimental physicians also serve as subjects.
        The degree of risk to be taken should never exceed that determined by the humanitarian importance of the problem to be solved by the experiment.
        Proper preparations should be made and adequate facilities provided to protect the experimental subject against even remote possibilities of injury, disability, or death.
        The experiment should be conducted only by scientifically qualified persons. The highest degree of skill and care should be required through all stages of the experiment of those who conduct or engage in the experiment.
        During the course of the experiment, the human subject should be at liberty to bring the experiment to an end, if he has reached the physical or mental state, where continuation of the experiment seemed to him to be impossible.
        During the course of the experiment, the scientist in charge must be prepared to terminate the experiment at any stage, if he has probable cause to believe, in the exercise of the good faith, superior skill and careful judgement required of him, that a continuation of the experiment is likely to result in injury, disability, or death to the experimental subject.

        [“Trials of War Criminals before the Nuremberg Military Tribunals under Control Council Law No. 10”, Vol. 2, pp. 181-182. Washington, D.C.: U.S. Government Printing Office, 1949.]
        Return to top

        1. There’s Law and then there’s Rules. The distinction is important, especially when the Rulers break the Laws.

          1. Legend has it that a frightened Marie Antoinette charmed the mostly-female mob from her balcony, bowing to them from above. The mob’s threats of violence turned into shouts of “Long live the queen!” But the queen wasn’t soothed. “They are going to force us to go to Paris, the King and me,” she said, “preceded by the heads of our bodyguards on pikes.”

            She was prescient; members of the crowd, carrying pikes topped with the heads of the royal guards, captured the royal family and took them to Tuileries Palace in Paris.

            Shortly before she met the guillotine at the Place de la Révolution, most of her snow-white locks were cut off.

            At 12:15 p.m., she stepped on the scaffold to greet Charles-Henri Sanson, the notorious executioner who had just beheaded her husband 10 months earlier.

            Though the man in the black mask was an early supporter of the Guillotine machine, he probably never dreamed he’d have to employ it on his former employer, the queen of France.

            Marie Antoinette, clad in simple white so different from her signature powder-blue silks and satins, accidentally stepped on Sanson’s foot. She whispered to the man: “Pardon me, sir, I didn’t mean to.” Those were her last words.

            https://allthatsinteresting.com/marie-antoinette-death

            Was that rule or law?

          2. rule or law

            Justice I guess, bad rulers. Natural law as in “We hold these truths to be self evident…”? In the US our bosses are supposed to follow the law, not just make their own rules regardless.

    2. In a Jan. 30 video statement on Twitter, Retsef Levi, a professor at the Massachusetts Institute of Technology, presented his analysis of data from Israel which suggested that there was a 25 percent increase in the cause of “cardiac arrest diagnosis” among youths during the first half of 2021. During this time, the government launched a massive vaccine campaign in Israel.

      It is not about health, nor has it ever been. It’s about money and control. The money aspect was what was really driving it initially, and now it’s almost exclusively about control – a “feel my power” game where billionaire globalists try to achieve total dominance over every human in the world.

      TRUE EVIL is the only way to describe what’s taking place right now. When you are knowingly injecting your children with a harmful substance, you are no longer worthy of being among the living. Death to the people who are driving this is the only answer. Execution.

      Some people like to get on their soap boxes and cry out, “how barbaric of you, calling for the death penalty!” Yet, they don’t see a problem with murdering kids and adults with a fake vaccine to gin up obscene profits for the wealthy, then lying about it and covering the whole thing up. Those kind of people are not my friends, or anybody I want to be associated with.

  15. ‘The market we are in is a bit of a roller-coaster these days,’ said Varun Mathur, a real estate broker.

    Roller coasters go up and down. This market, not so much. Stop lying, Varun.

  16. From ABC Business. “Life sure can throw some unexpected curveballs.”

    “That’s the incredible, true life tale of the transformation of Philip Lowe. Once the celebrated governor of the Reserve Bank of Australia, he’s now regularly portrayed as the evil mastermind behind our impending economic downfall, steering a generation of young Australians towards financial doom.”

    – Fact check: True!

    “But if there is something even more remarkable about all this, it is that Dr Lowe is in very good company. The RBA isn’t an outlier in this department as almost every other central bank around the world has been almost as bad. That raises some important questions. Is the era of all powerful, unelected central banks drawing to a close? Has monetary policy dominance run its course and will governments work their way back into the frame when it comes to economic management?”

    “They’re questions unlikely to be answered, or even asked, by the federal government’s inquiry into the running of the RBA — to be handed to the Treasurer next month — which is being run by a, you guessed it, a central banker.”

    “Across the globe, central bankers are nursing bruised egos. Their reputations — from Jerome Powell, the chairman of the US Federal Reserve down — are in tatters. When inflation began to soar in late 2021, they all sang in unison. They even used the same lyrics. Inflation was transitory, they said, a natural reaction to the sudden reopening of the economy. By the time they realised inflation was entrenched, it was almost too late and they were forced to act with undue haste with a monetary wrecking ball that now is wreaking havoc across the developed world.”

    – The boom and bust cycles are enabled by central bankers and complicit gooberments. They caused the boom. They own the bust. Pitchforks and torches should be the least of their problems.

    – “Inflation is always and everywhere, a monetary phenomenon.” – Fact check: True!

    1. “Inflation is always and everywhere, a monetary phenomenon.”

      Wait. You mean it’s not exactly the price of eggs?

      1. “Inflation is always and everywhere, a monetary phenomenon.”

        Wait. You mean it’s not exactly the price of eggs?

        I’m not sure why you play little word games like this all the time. I personally think it’s because you need to get outside and get some fresh air or something, but I’ll pull at your thread a little bit.

        The widely accepted definition of inflation is “an increase in the general price level of goods and services in an economy.” While debasing the currency by printing is ultimately the origin of said price increases, nobody calls inflation “the increase in money supply” when they are discussing it. Do you get it now? I can keep pulling at your thread in the future if you like.

        1. “Inflation is always and everywhere, a monetary phenomenon.”

          This is the true part. It’s not a little word game if you understand. Sure I mock the commonly accepted story line that prices of anything is inflation. It deserves to be mocked, especially when it is proved by “nobody says that” or “everybody knows”.

          Why is this important? Debasing the currency is bad. When forces like technology or resource production force prices down, the bankers get no blame for their theft, because you can say “there’s no inflation”. When prices go up the same crooks still get a pass because you don’t know to look at the money/credit expansion. Maybe not you of course, but your argument throws cover on the crooks.

          1. You don’t get to decide what the definition of inflation is. It’s not your call. Only a narcissist would think that way. Go to any dictionary and inflation will be defined by an increase in the price of goods and services.

          3. Go to any dictionary

            Fortunately, I do actually have a real dictionary! It’s Webster’s International.

            Inflation: 2: an increase in the volume of money and credit…

            The meaning of words is important, especially in an age of widespread gaslighting, lest one become helpless.

            “Inflation is always and everywhere, a monetary phenomenon.”

            There it is. The words of a real economist. Quoted it yourself. Contradictory statements by the crooks at the Fed are meant to confuse and distract from theft of the national wealth.

          4. Fortunately, I do actually have a real dictionary! It’s Webster’s International.

            Inflation: 2: an increase in the volume of money and credit…

            The meaning of words is important, especially in an age of widespread gaslighting, lest one become helpless.

            The meaning of words are especially important when encountering a person such as yourself who attempts to obfuscate and manipulate. Funny how you are engaging in the exact deception you warn of. You just went full clown show, because you willfully omitted the first part in Webster’s dictionary which states:

            a continuing rise in the general price level

            Why did you do that? Why did you ignore that and then cite the 2nd example? Gaslight much? I’ve seen you do this with other commenters around here as you get in your little digs here and there. Get some fresh air, man. Seriously.

          5. Heck, I just noticed you’re doing the same thing right above in a comment to Ben’s good post, nitpicking about “rules and laws” rather than paying attention to the more important point which was post itself.

          6. Why did you ignore that and then cite the 2nd example?

            Because the first definition in my Websters is about blowing up a balloon.

            Whether you are patient or raging doesn’t matter. Prices are an effect of inappropriate inflation or other things. They are not inflation itself. You can’t find a solution to a problem if you ignore the cause.

          7. nitpicking about “rules and laws”

            Because it was what I was thinking about; people who make rules for us in contradiction to our laws. I didn’t mean to criticize Ben. Anyway, he called me out quite politely. You don’t.

          8. Because the first definition in my Websters is about blowing up a balloon.

            You’re a liar and you know it. You got called out and don’t want to admit it. The increase in the price of eggs, and everything else that goes into CPI, is the very definition of inflation.

          10. I’ve got $5 says you’re wrong. Loser buys Ben a beer. What have you got Newbee?

            I’ve been reading Ben’s blog since 2005, not commenting the entire time of course. But that’s neither here nor there.

            The fact of the matter is I have not seen a single dictionary that doesn’t define inflation as an increase in the price of goods and services.

            Cambridge
            Webster’s
            Dictionary
            Wordnik
            Collins
            Oxford….and the list goes on.

            What was your point again, narc?

          11. Have you got more than Hot Air? How about $10. I am pretty sure Ben needs a beer.

            The 2, 4, 6 handle is pretty new. Aren’t you the Newbee that claimed I was the same poster as Mafia a year ago and was rashing me?

          13. “Whether you are patient or raging doesn’t matter. Prices are an effect of inappropriate inflation or other things. They are not inflation itself.”

            Precisely.

          15. you willfully omitted the first part in Webster’s dictionary which states:

            a continuing rise in the general price level

            And your Imgur just proved my point:

            “…a general rise in the price level occurs..”

            You willfully omitted that in your comment, just like I said. You just owned yourself.

            Aren’t you the Newbee that claimed I was the same poster as Mafia a year ago and was rashing me?

            I think you’re getting paranoid, my friend. I have no idea what you’re talking about.

  17. Once the celebrated governor of the Reserve Bank of Australia, he’s now regularly portrayed as the evil mastermind behind our impending economic downfall, steering a generation of young Australians towards financial doom.”

    Central bankers have only one “mandate”: to serve as the oligarchy’s chief instrument of plunder against the 99%. The sooner the masses of sheeple wake up and reach for the pitchforks, the better.

  18. The RBA isn’t an outlier in this department as almost every other central bank around the world has been almost as bad.

    I hope I live to see post-collapse tribunals all over the western world for these gold collar criminals & the destruction they wreaked on the middle & working classes.

    1. Investors have pushed stocks into the death zone, warns Morgan Stanley’s Mike Wilson
      Last Updated: Feb. 20, 2023 at 9:07 a.m. ET
      First Published: Feb. 20, 2023 at 3:40 a.m. ET
      By Steve Goldstein

      What’s the best metaphor to describe the stock market, that has sent the S&P 500 up 16% from its October lows, and up 6% this year?

      Morgan Stanley strategist Mike Wilson has turned to the Jon Krakauer best-seller “Into Thin Air,” which chronicles the death of 12 mountaineers trying to scale Mount Everest. The book delves into the death zone, which starts 3,000 feet from the mountain’s summit, an altitude where oxygen pressure isn’t sufficient to sustain life for an extended period.

      “Either by choice or out of necessity investors have followed stock prices to dizzying heights once again as liquidity (bottled oxygen) allows them to climb into a region where they know they shouldn’t go and cannot live very long,” says Wilson. “They climb in pursuit of the ultimate topping out of greed, assuming they will be able to descend without catastrophic consequences. But the oxygen eventually runs out and those who ignore the risks get hurt.”

      Wilson says that when stocks started rising in October, they had much lower valuation, with a price-to-earnings ratio of 15 and an equity risk premium of 270 basis points. The equity risk premium is the difference between the expected earnings yield and the yield on safe Treasurys, with a higher number meaning investors are being compensated more for their investments in stocks.

      By December, however, “the air started to thin” with P-to-Es down to 18, and the equity risk premium down to 225 basis points. “In the last few weeks of the year, we lost many climbers who pushed further ahead in the death zone,” he said.

      But then 2023 started, and “the surviving climbers decided to make another summit attempt, this time taking an even more dangerous route with the most speculative stocks leading the way,” on the faulty premise of a Fed rate-hike pause, to be followed by cuts later in the year.

      “Investors began to move faster and more energetically, talking more confidently about a soft landing for the U.S. economy. As they have reached even higher levels, there is now talk of a ‘no landing’ scenario – whatever that means. Such are the tricks the death zone plays on the mind – one starts to see and believe in things that don’t exist,” says Wilson.
      …
      https://localtoday.news/us/investors-have-pushed-stocks-into-the-death-zone-morgan-stanleys-mike-wilson-warns-313971.html

  21. WTF is a “food justice expert” ?

    Can You Really Save The Planet With The ‘Right’ Food Choices? (2/20/2023):

    “Food justice experts share what you should buy for dinner that’ll make the biggest impact.

    We hear it all the time — if you want to save the planet, you should “vote with your fork” when you’re shopping for groceries or ordering from a restaurant.

    While an individual’s impact may be small, it’s still a good idea to try to make smarter choices overall, experts said.

    We talked to experts about why they’re more flexible than you might expect, what they put in their own shopping baskets, and what you should be doing to effect lasting change, long after you’ve finished eating.

    As with just about every other aspect of food these days, we can tie ourselves in knots worrying about whether or not we’re making the right choices to support farmers, workers and the planet. The experts we spoke to acknowledged that and urged us to give ourselves a break.

    It turns out that food justice requires much more than just one thought-out grocery shopping trip or one plant-forward food order.

    The good news is that you can make a difference, but it’s going to take more work and commitment than swapping out conventional for organic produce and calling it a day.”

    https://www.huffpost.com/entry/can-food-choices-save-the-planet_l_63e15b88e4b0c2b49ae4db08

    At the G20 summit in Bali last year, the attendees dined on wagyu beef. Whatever “food justice” is, it’s for the poors.

  22. Propaganda and lies from The Atlantic.

    Biden Just Destroyed Putin’s Last Hope by Eliot Cohen (2/20/2023):

    https://archive.is/8oKS8

    Biden Went to Kyiv Because There’s No Going Back by Anne Applebaum (2/20/2023):

    “the paradigm has shifted and the story has changed. The old “normal” is not coming back.”

    https://archive.is/hmdWV

    Onward Christian Soldiers, as always.

    #Noticing

    1. As we oft to do these days, we will pull back and withdraw support very suddenly and with little warning.

      Meanwhile, we are demanding that China not support Russia in the war. Yeah, good luck with that.Meanwhile, the ranks of the Global South are growing. A very motley crew of nations that have one thing in common: they would love to see the US fall.

    2. Everyone should be clear on what really happened. The only reason Biden went to Ukraine is to negotiate a higher kickback. Imagine how many people Joe has to pay off to keep the wolves at bay. It must be getting rather expensive at this point.

      1. “The only reason Biden went to Ukraine is to negotiate a higher kickback.”

        One last shot to dip the Ladle in the Kraine.

        Establishment Media Gush over Joe Biden’s Return to Ukraine: ‘Audacious,’ ‘Defiant,’ ‘Shock’

        WENDELL HUSEBØ
        20 Feb 2023

        The establishment media praised President Joe Biden for returning to Ukraine on Monday after visiting the nation six times in eight years while vice president.

        Despite the Biden family business scandal that involves Ukraine, the media cheered Biden’s return to the nation waging war against Russia, a conflict based on decades of territorial claims.

        https://www.breitbart.com/the-media/2023/02/20/establishment-media-gush-joe-bidens-return-ukraine-audacious-defiant-shock/

    3. Biden Went to Kyiv Because

      What makes you think Biden went to Kiev? Everything else, from even before the war began, that they’ve told us about it has been a lie.

      1. Schweizer: Alleged Biden Corruption Begs Question About a Possible Chinese Intelligence Operation

        JEFF POOR
        19 Feb 2023

        During an appearance on FNC’s “Sunday Morning Futures,” Breitbart News senior contributor and Government Accountability Institute president Peter Schweizer weighed in on the corruption allegations tied to President Joe Biden and his family, including son Hunter Biden, who apparently played a prominent role in the alleged wrongdoing.

        Schweizer told host Maria Bartiromo that the evidence continued to mount and pointed to the dealings ties to the Chinese spy apparatus.

        https://www.breitbart.com/clips/2023/02/19/schweizer-alleged-biden-corruption-begs-question-about-a-possible-chinese-intelligence-operation/

  23. 𝗣𝗲𝘁𝗮𝗹𝘂𝗺𝗮, 𝗖𝗔 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲𝗿 𝟮𝟭% 𝗣𝗹𝘂𝗻𝗴𝗶𝗻𝗴 𝗗𝗲𝗺𝗮𝗻𝗱, 𝗦𝗼𝗮𝗿𝗶𝗻𝗴 𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗔𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗹𝗼𝘀𝘂𝗿𝗲𝘀 𝗥𝗮𝘃𝗮𝗴𝗲 𝗡𝗼𝗿𝘁𝗵𝗲𝗿𝗻 𝗖𝗮𝗹𝗶𝗳𝗼𝗿𝗻𝗶𝗮

    https://www.movoto.com/ca/94952/market-trends/

    𝘈𝘴 𝘢 𝘯𝘰𝘵𝘦𝘥 𝘦𝘤𝘰𝘯𝘰𝘮𝘪𝘴𝘵 𝘴𝘵𝘢𝘵𝘦𝘥, “𝘈 𝘩𝘰𝘶𝘴𝘪𝘯𝘨 ‘𝘳𝘦𝘤𝘰𝘷𝘦𝘳𝘺’ 𝘪𝘴 𝘧𝘢𝘭𝘭𝘪𝘯𝘨 𝘱𝘳𝘪𝘤𝘦𝘴 𝘵𝘰 𝘥𝘳𝘢𝘮𝘢𝘵𝘪𝘤𝘢𝘭𝘭𝘺 𝘭𝘰𝘸𝘦𝘳 𝘢𝘯𝘥 𝘮𝘰𝘳𝘦 𝘢𝘧𝘧𝘰𝘳𝘥𝘢𝘣𝘭𝘦 𝘭𝘦𝘷𝘦𝘭𝘴 𝘣𝘺 𝘥𝘦𝘧𝘪𝘯𝘪𝘵𝘪𝘰𝘯.”

    2. The Ohio train derailment is poisoning the area,but the EPA is saying its safe. Apparently a metal factory in Ohio just went up in flames with a big mushroom black cloud.
      These are chicken shit poisoners, just like with the vaccine.
      Everybody is going to get mad at the US for that demon Biden blowing up the pipeline from Russia..
      Does the World understand that the US election was rigged and the US Citizens have a traitor Puppet in White House thats doing what the One World Order psychos
      want?

  27. Finance Housing
    The housing market correction just took a new turn
    “Builders have taken their medicine for the most part right now on pricing,” says Rick Palacios Jr., head of research at John Burns Real Estate Consulting.
    BY Lance Lambert
    February 20, 2023 3:03 PM EST

    Brutal. That’s the best way to describe KB Home’s fourth quarter, which saw its buyer cancellation rate spike to 68%. That figure dwarfed the publicly traded homebuilders’ 13% cancellation rate from the previous year’s period. It also surpassed the industry’s peak cancellation rate of 47% during the darkest days of the 2008-era crash.

    “Depending on market dynamics and backlog levels in each community, we are getting more aggressive with our pricing ahead of the spring selling season, in order to generate new orders,” KB Home told investors back in January after posting its disappointing fourth quarter result.
    …
    https://fortune.com/2023/02/20/housing-market-correction-just-took-new-turn-home-prices-falling-new-construction-builders/

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