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There Is A Glut Of Repossessed Vehicles, Land, Homes And Office Equipment Being Sold Off Cheaply

A report from KVUE in Texas. “After a red-hot Austin housing market, a new report from Zillow shows us just how quickly it’s cooling off. The average home value in the Austin-area is down 12% since the record highs we saw in June. But for some, taxable property values are still rising. Melanie and Caleb Sexton built their home in Round Rock in 2018. They say they’ve seen their appraisals higher this year when they know homes similar to theirs in the neighborhood are going for tens of thousands less than the values they’re getting. So now, the Sextons are thinking of protesting their appraisal. ‘I think it’s something to consider because it’s not reflective of what’s going on in the real estate market. And again, we don’t want to see our taxes go up,’ said Melanie Sexton.”

“‘Buyers in pandemic-era hotspots like in Austin and Phoenix are seeing their markets return faster to normal,’ said Orphe Divounguy, a senior economist with Zillow. ‘Long gone are the days where you could just put a sign in front of the front yard and expect a bidding war to set the price for you. It’s not going to happen. So working with an agent is going to be very helpful.'”

The Orange County Register in California. “Jeff and Melaina Brill will long remember February as the month they went through a complicated pregnancy and a hellish home sale at the same time. Their daughter, was delivered by C-section on March 2. Three and a half hours later, they got a text saying the two-bedroom condo the family of five had outgrown had been sold as well. Unbeknownst to the Brills, their real estate agent or their homeowners’ association, mortgage giant Fannie Mae had put their building, the Harbor Lofts condominiums in downtown Anaheim, on a secret list of condos ineligible for Fannie-backed mortgages. They didn’t find out about it until their buyers applied for a loan near the end of a three-week escrow. All over America, condo buyers and sellers have been getting similar surprises.”

“Many, like the Harbor Lofts, got put on the list because of construction defect litigation between the owners and the builder. In February, residents of 6,102 condos at Laguna Woods Village learned their homes were added to the list because their HOA’s insurance is insufficient. ‘You’re essentially blacklisting the (condo) community, and that affects values,’ said David Gaylord, a mortgage broker with Arbor Financial in Laguna Niguel. Nobody knew about the list at the Harbor Lofts — until the Brills’ escrow almost fell through and saddled the couple with an extra mortgage they couldn’t afford. The buyers, meanwhile, went from lender to lender, finally getting approved for a loan, but at a higher cost. The Brills coughed up $15,000 to cover the buyers’ added finance costs.”

From Fortune. “Heading into 2023, Yieldstreet told Fortune that the firm had reduced its homebuying levels by more than 90% as the institutional homebuyer awaited steeper declines in home prices. High interest rates, coupled with high home prices, means that buying new single-family rentals doesn’t make a lot of sense right now for institutional investors. Tejas Joshi, director of single-family residential, says Yieldstreet is waiting for either home prices to fall further or interest rates to come back down. Or both. ‘If short-term [interest] rates came down around 4%, and if home prices were about 15% lower than the peak last year, that is a valuation that supports the equity return that investors need to make,’ Joshi says.”

“Yieldstreet isn’t alone. According to an analysis conducted by John Burns Research & Consulting, institutional investors bought 79% fewer homes in the fourth quarter of 2022 than in the fourth quarter of 2021.”

The New York Post. “A little-noticed revamp of federal rules on mortgage fees will offer discounted rates for home buyers with riskier credit backgrounds — and force higher-credit homebuyers to foot the bill, The Post has learned. Fannie Mae and Freddie Mac will enact changes to fees known as loan-level price adjustments (LLPAs) on May 1 that will affect mortgages originating at private banks nationwide, effectively tweaking interest rates paid by the vast majority of homebuyers. The result, according to industry pros: pricier monthly mortgage payments for most homebuyers — an ugly surprise for those who worked for years to build their credit.”

“‘It’s unprecedented,’ added David Stevens, who served as Federal Housing Administration commissioner during the Obama administration. ‘My email is full from mortgage companies and CEOs [telling] me how unbelievably shocked they are by this move. This was a blatant and significant cut of fees for their highest-risk borrowers and a clear increase in much better credit quality buyers – which just clarified to the world that this move was a pretty significant cross-subsidy pricing change.'”

Business Insider. “A crash may be coming for the commercial real estate market, and the fallout could be as bad as what was seen in the 2008 crisis, according to the CEO of a real estate investment firm. ‘Unfortunately in the situation we’re in, things need to bottom out, and they haven’t bottomed out yet,’ said Patrick Carroll, the CEO of Carroll. H predicted areas like offices and hotels would be ‘destroyed’ – similar to what other commentators have warned for the sector as it faces tighter credit conditions and a wall of debt maturities. ‘It’s going to be ugly. It’s going to be at least as bad as ’08, ’09,’ he warned.”

“The stress in the market could soon bubble to the surface, as $1.5 trillion in commercial real estate debt comes due in the next three years, Carroll said, at which point it will need to be refinanced or renegotiated somehow. ‘Sellers are not realizing how much their properties have lost value, and they’re not willing to dump their properties yet because they haven’t felt enough pain. They’re about to start feeling pain. These lenders are screwed,’ Carroll warned.”

Bisnow Boston in Massachusetts. “It isn’t looking good for Boston’s office market after the first three months of the year. With vacancy rates reaching historic highs and the market suffering from millions of square feet of occupancy losses, experts say that the damage is far from over. The Boston metro area recorded 3.4M SF of negative net absorption in the first quarter, according to Colliers, with 1.5M SF of that occupancy loss occurring in Boston proper. ‘I don’t think we’ve hit bottom,’ Colliers Research Director Jeff Myers told Bisnow. ‘I think there is still more pain in front of us.'”

The Globe and Mail. “Canada’s banking regulator is warning that although extensions to mortgage payment periods have helped borrowers absorb surging costs, the fix is short-term and will keep them in debt for longer,threatening both their financial stability and that of the banking system. Tolga Yalkin, an assistant superintendent at the Office of the Superintendent of Financial Institutions, said higher costs of borrowing and a potential recession could deal a blow to already stretched homeowners and spur defaults.”

“‘It won’t surprise you to hear that we are not wearing rose-coloured glasses. The growth in highly leveraged borrowers increases the risk of weaker credit performance,’ Mr. Yalkin said. While many lenders have allowed variable-rate mortgage holders to extend their amortization periods to keep payments from soaring as interest rates climb, Mr. Yalkin said the measure addresses only short-term affordability concerns, while leaving borrowers to pile up even more debt and accrue higher interest payments.”

“In January, OSFI proposed tougher lending requirements that would make it even harder to get approved for a mortgage. Critics have questioned the need for these measures, saying that low delinquency rates demonstrate that tighter underwriting standards are unwarranted and overly restrictive. But OSFI would rather take the initiative in addressing potential issues,Mr. Yalkin said, especially since, as he put it, ‘arrears are a lagging indicator of risk.'”

The Copenhagen Post. “House prices might have fallen 9.7 percent since mid-2022, but buying one has not become more affordable, according to Finans Danmark, the financial sector’s interest group. The figures, which are based on the assumption the buyer will need to borrow 95 percent of the value of the property, make for even harder reading in Denmark’s major cities. Ane Arnth Jensen, the deputy managing director of Finans Danmark, speculates that prices could fall further, as buyers will most likely put pressure on sellers to lower their prices, but that it might take time before ‘an equilibrium’ is found. ‘When there is a gap, like the one we have seen, it is usually an indication that there may be further pressure on prices. Where it lands, no-one knows,’ she said.”

From Globes. “Prices of new apartments on the free market in Israel have fallen 5.8% in four months, equivalent to an annual fall of 18%, and a serious warning sign for the entire real estate sector, according to figures published by the Central Bureau of Statistics on Friday. This comes alongside a monthly decrease of 0.2% in the first overall monthly index of apartment prices of 2023. At the same time, rents continue to rise and fuel inflation and interest rate rises.”

“Israel Builders Association president Raul Srugo said, ‘The Israeli government has absented itself from the economy and the housing market, just ahead of the peak of a crisis we have not yet experienced. The responsibility lies with the state’s leadership to provide incentives that will prevent a halt in building starts, because of the tremendous shortage of apartments and will help the homeless. As a representative of the industry, I tell you that if interest rates continue to rise, many contractors will lose their economic independence and some will collapse. This is an event that can affect the pocket of every citizen in Israel, with a drop in the capacity to build and a jump in home prices and rents.'”

“The annualized 18% fall in apartment prices on the free market is in line with the results of Israel Land Administration land auctions, which fetched prices of than half of the appraisers’ estimates. Former Minister of Construction and Housing Zeev Elkin said, ‘We said that in 2023 the increase in housing prices would be curbed and here it is.'”

News,com.au in Australia. “Customers at a collapsed building firm are furious as the appointed liquidators have flagged that they will pursue some of them over unpaid debts. That’s despite many being left tens of thousand of dollars out of pocket with incomplete homes and facing increased build costs when they go with another company to finish construction. One customer who preferred to remain anonymous told news.com.au that the liquidators are ‘seeking more money from suffering customers.'”

From Business Daily. “Banks are turning to repeat auctions to speed up the sale of repossessed cars, houses and land at discounted prices as tight economic conditions knock off property valuations. The lenders, alarmed by the rising portion of loans for which principal and interest have not been paid for at least 90 days, are instructing auctioneers to re-advertise bids for repossessed assets. Some of the properties being re-advertised have suffered a drop in valuation due to factors such as depreciation and tight liquidity conditions in Kenya’s soft economy, leading to reserve prices that are now closer to previously received bids. As a result, there is a glut of repossessed vehicles, land, homes and office equipment being sold off cheaply across Kenya.”

“‘There is not much liquidity in the market now for individuals and businesses as well. A lot of the auctions we are seeing are not necessarily new but are repeated auctions. The market has not been good. There are not many takers,’ said John Gachora, the NCBA Group managing director. ‘The auction pages in newspapers have been growing. It is unfortunate that there are so many auctions going on.'”

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This Post Has 84 Comments

  1. ‘They say they’ve seen their appraisals higher this year when they know homes similar to theirs in the neighborhood are going for tens of thousands less than the values they’re getting. So now, the Sextons are thinking of protesting their appraisal. ‘I think it’s something to consider because it’s not reflective of what’s going on in the real estate market’

    Here’s the good news Melanie: in Texas you get to protest every year prices crater! Happened in the 80’s.

    2. Bought a building lot in New Braunfels in 2021 for $65k. Comal county’s assessment for taxes in 2022 was $160k and I got it down to $134k by protest.

      I just received 2023’s assessment and Comal county says the lot is now worth $174k. The lot is going on the market next week and I’m not building in Texas again. The tax situation is out of control and my idea of retirement didn’t include paying over $1,000 a month to Comal, or any other county in Texas for the rest of my living days. I thought that Williamson county was bad but Comal has them beat by a mile. Nueces county is no good deal either so goodbye to a house in Corpus Christi.

      1. over $1,000 a month to Comal

        In NY it would be $400 per month and Texas is supposedly half of that.

        2. Texas is supposedly half of that

          My mom owned a house in Dallas some time ago. Property taxes were shockingly high back then. I can only imagine how bad they are now. And, IIRC, Texas doesn’t have income tax so they make up for it with property taxes.

  2. ‘Fannie Mae and Freddie Mac will enact changes to fees known as loan-level price adjustments (LLPAs) on May 1 that will affect mortgages originating at private banks nationwide, effectively tweaking interest rates paid by the vast majority of homebuyers. The result, according to industry pros: pricier monthly mortgage payments for most homebuyers — an ugly surprise for those who worked for years to build their credit’

    People criticize banks, but these are the dark REIC monsters. Is it a surprise that just when the SHTF they juice subprime lending and make borrowers pay for it? Sound lending!

    1. People criticize banks, but these are the dark REIC monsters.
      Most people don’t know but companies have to count welfare “income” the same as earned income when qualifying someone for a mortgage loan. Illegal to do otherwise. How does that make any sense?
      Bank’s are just dealing with the rules handed down. This is why after the GFC a fair number of Banks quit doing FHA due to the risk. With the potential of triple damages on non-Fraud FHA loans these loans became too damn risky, so Non-Banks took over doing them. As has been pointed out many times, most non-banks don’t have much in the way of assets for the Federal Government to seize should they decide to sue these companies. So they have little to lose in making and selling these FHA loans.

      1. And right after GFC, Fannie loans became very difficult to qualify for and the fees became very expensive. FHA had racked up massive losses while they were still a private company trading on their implied get-out-of-jail-free backstop — remember Franklin Raines? So after the Great Recession, FHA could only take on high-quality borrowers. When I was buying my house, I could have done it by FHA but the fees far outweighed the cost of just putting 10% down.

  3. will offer discounted rates for home buyers with riskier credit backgrounds — and force higher-credit homebuyers to foot the bill,
    Why is the Government almost always penalizing people who do the right thing in an effort to “help” people who screw up. I don’t get it, but it seems to be the case more often than not.

    1. Its because of the Peter principle. Once the Pauls outnumber the Peters, you promise to take from the Peters, and give to the Pauls, and ipso fatso, you cheat a little bit, and wallah, you are re elected.

    1. They really thought that people were going to run out and get that bivalent booster thing. Most people correctly concluded that by that time, the virus itself had evolved itself into irrelevance. The sickest I ever got between 2020 and now was 36 hours of fever/ache from the first J&J vaccine.

      1. My brother was fine all the way through August 2021. He took the JNJ shot and ended up in the emergency room a week later after he caught the coof. I gave him some horse dewormer and he got better a few hours later.

        1. Not the fault of the vax. All the vaxes (flu vaxes too) take 14 days to kick in. Only 7 days after the vax, your bro was still susceptible. But good on you for the horse dewormer. We should have handed out HCQ and IVM like candy, but people hated T**p too much to allow that. We have saved so many more people.

  6. The average home value in the Austin-area is down 12% since the record highs we saw in June.

    Is that a lot?

    1. “Is that a lot?”

      I suppose it depends on when you bought and what you paid. To the knife catchers who bought at recent highs in June sure.

      If Austin’s market is anything like where I live in SE Region IV and you bought a house in 2010 – 2012 it could have dropped 50% and you wuld still be up 100% so the recent 12% drop isn’t “a lot” .

      Yet.

      1. It’s still a lot. Imagine buying a house at $500K and you could have sold at $1 million. You now sell for $880K. You’re still up $380K, but you left $120K on the table. That’s a lot of money for most people.

        1. “Imagine buying a house at $500K and you could have sold at $1 million.”

          I have owned two houses in my life, I live in the second now and considered them both a place to live.

          If you want to look at it your way I could have sold the place I bought in 1984 at a 20% loss one year later, but I didn’t. I sold it twenty-one years later for 4 x what I paid for it,

    2. Merely pocket change. For the a-holes in Austin, I hope it goes down 50% or more and they’re trapped unless they pay a few hundred thousand out of pocket to sell. Those transplants have turned an awesome town into a shithole

  7. ‘You’re essentially blacklisting the (condo) community, and that affects values,’ said David Gaylord, a mortgage broker with Arbor Financial in Laguna Niguel.

    Gosh, I sure hope this doesn’t impair the underlying collateral. True price discovery would be the worst nightmare for the “systemically important” banks & the Fed, not to mention a lot of pension funds.

    1. “Three and a half hours later, they got a text saying the two-bedroom condo the family of five had outgrown had been sold as well. ”

      I’m pretty sure that should read that “the two bedroom condo had NOT been sold.” The buyer couldn’t get a Fannie loan because the building was blacklisted. The sellers eventually had to chip in $15K to sell the condo. I think the real takeaway is that nobody has even 10% to put down on a house anymore — the 3.5% down Fannie loan is their only option.

      1. I’d bet the 15k came at closing, meaning it was borrowed and credited toward the buyers. Buyers UHS will actually say ‘let’s raise the price by the amount of closing costs and credit back to buyers’. Meaning they just borrowed over 100% of value. Happens all the time.

    1. Still lots of stupid people out there with lots of cash earning 0.01% at the big banks. Roll them into T-Bills or a money market at least. The banks are taking your deposits and putting them into T-Bills and repos at 5%.

    2. I’m getting 3.5% at my brokerage. After my CU tried to charge me to mail me 3 check registers the rest of my savings went there as well.

  9. No “pent-up demand” for $800,000 starter homes happening here:

    “Amid persistent inflation, higher interest rates and recession worries, Americans have never been more negative about the economy, according to the latest CNBC All-America Economic Survey.

    A record 69% of the public holds negative views about the economy both now and in the future, the highest percentage in the survey’s 17-year history.

    The survey of 1,000 people nationwide, with a margin of error of +/-3.1%, found that about two-thirds of Americans say their wages are falling behind inflation, and two-thirds say the nation is headed for recession or already in one.”

    https://www.cnbc.com/2023/04/18/public-pessimism-on-the-economy-hits-a-new-high-cnbc-survey-shows.html

  10. The winnahs?

    “While some homeowners feel like they won the lottery with such low rates, others — particularly those who want to sell now — report feeling trapped, according to a report from Realtor.com.

    Among those feeling stuck, younger generations felt the crunch more so than older Americans, the Realtor.com survey said. Nearly all (97%) of Generation Z, and 87% of millennials feel locked in by their current mortgage rates.”

    https://www.marketwatch.com/story/locked-in-or-trapped-home-sellers-particularly-young-people-are-reluctant-to-move-after-obtaining-low-mortgage-rates-in-the-pandemic-16fe47e8?mod=home-page

    Most of these kidz will be forced to stay living with their ex-spouse after the divorce.

    1. For this reason, some states do not require a 1-year separation period before filing for divorce. They know that some couples cannot afford an extra apartment for that year. And it’s not a recent phenom either.

      1. a 1-year separation period

        That requirement does not mean the two cannot ever be in the same space. It simply means they cannot “couple”.

        1. True, but I think it’s easier to prove in court they didn’t couple if they have separate dwellings, depending on the state. I know one couple that divvied up the living areas in the house and avoided each other. Of course they’re wealthy and live in a McMansion. You can’t pull that off in a 2-bed condo.

      2. “They know that some couples cannot afford an extra apartment for that year.”

        I spoke with a 30 something superintendent on a job last week who has been living with his wife and they have been divorced for over two years.

    2. Most of these kidz will be forced to stay living with their ex-spouse after the divorce.
      Homelessness/camping might be the best option in many cases.

      1. “Homelessness/camping might be the best option”

        If they’re in Denver they’ll have plenty of company.

      2. stay living with their ex-spouse…Homelessness/camping

        Either case would cauterize you from repeating the dating/marriage mistake anytime soon.

    1. The Financial Times
      US banks
      Depositors pull nearly $60bn from three US banks as Apple raises pressure
      Charles Schwab, State Street and M&T report outflows as savers hunt for better rates
      State Street’s office in Canary Wharf, London
      State Street told analysts that another $4bn to $5bn of outflows of non-interest-bearing deposits could leave in the second quarter
      Brooke Masters and Madison Darbyshire in New York yesterday

      Big US financial groups Charles Schwab, State Street and M&T suffered almost $60bn in combined bank deposit outflows in the first quarter as customers continued to move their money in search of higher returns.

      The deposit flight has been turbocharged by the collapse last month of Silicon Valley Bank and two other US lenders, with cash moving out of bank accounts at a pace not seen since the aftermath of the 2008 financial crisis.

      In a fresh sign of the threat to traditional banks, Apple and Goldman Sachs on Monday announced the launch of a new savings account in the US that will pay a market-leading 4.15 per cent a year.

      US savers have been yanking cash out of low-yielding bank accounts and ploughing it into alternative products such as money market funds or Treasury bills that pay better returns, allowing them to take advantage of the sharp interest rate rises implemented by the Federal Reserve. The average US bank account savings rate is just 0.37 per cent, according to government data, versus the Fed’s benchmark rate of 4.75 per cent to 5 per cent.
      …

      1. Dumb question of the day:

        If banks don’t want to lose deposits, why don’t they pay market rates of interest? Seems like a nobrainer…

        1. why don’t they pay market rates

          I wonder if government subsidy of mortgages has anything to do with it. Also, if I can buy Treasuries @ 4.5%, just like the bank, how can they give me the same interest on a CD? Where’s their 3% margin?

          1. Perhaps Apple is just using this money for its own operational expenses. Probably cheaper than selling bonds.How much would Apple have to pay? 7%?

          2. “Once an economy falls into the tractor beam of zero rates, it’s almost impossible to escape them.” – Kyle Bass, Hayman Capital Management

          5. “Once an economy falls into the tractor beam of zero rates, it’s almost impossible to escape them.”

            6.89% on Series I Savings Bonds is well above zero. Seems like we have escaped!

        2. It is a no brainer, I am buying 13 wk T Bills laddered and popping up weekly and waiting like a Vulture to swoop down and eat some rotted meat.

        3. I buy my T-Bills at auction from my Ameritrade account. You don’t even need to go through the TreasuryDirect bullshit of mailing and faxing forms

          1. buy my T-Bills at auction from my Ameritrade account.
            I bought from Treasury Direct before but didn’t know about Ameritrade.
            Thanks, I will have to check that out.

    1. “A CEO has sparked outrage after telling her employees in a leaked Zoom call to “leave pity city” for complaining about not receiving bonuses.”

      Not even a one year subscription to the Jelly of the Month Club?

      Clark Freaks Out – Christmas Vacation

      When he doesn’t receive his long-awaited Christmas bonus, Clark (Chevy Chase) loses it and gives an angry rant about his boss.

      2:37

      https://youtu.be/TQXuazYI_YU

    2. Any self-respecting person would be looking for another job. Too bad most people are spineless cowards.

    1. As of 4/27 any auto loans greater than 110% loan-to-value and 15% payment-to-income will be declined.
      From the article. Who in their right mind would make an auto loan at over 100% LTV? I know it was being done, but Wells still doing LTVs on auto loans 100-110% is nuts!

        1. Usually rolling the old underwater loan balance into a new loan
          Thank makes some/more sense, thanks.

    1. Hope that guaranteed income is enough to pay for damage to the properties. They’re not sending their best.

      1. They don’t care. They will flip that hotel to some sucker who sees all the revenue not knowing that the money came from the government housing illegals from El Salvador. There’s still lots of stupid money out there that needs to be separated from the owners.

    1. Markets
      Billionaire investor Howard Marks sounds the alarm on commercial real estate – warning of a wave of mortgage defaults
      Zahra Tayeb
      Apr 18, 2023, 8:07 AM
      Billionaire investor Howard Marks. Screengrab via Bloomberg

      – Billionaire investor Howard Marks sounded the alarm on the commercial real-estate sector.
      – The Oaktree Capital co-founder warned of mortgage defaults that could add stress to the US financial system.
      – “We’re very likely to see mortgage defaults in the headlines, and at a minimum, this may spook lenders,” Marks said.
      …
      https://markets.businessinsider.com/news/stocks/howard-marks-commercial-real-estate-defaults-interest-rates-2023-4?amp

    1. Yahoo
      Fortune
      Things are getting really weird in the housing market
      Lance Lambert
      Tue, April 18, 2023 at 12:24 AM PDT·4 min read

      Most housing analysts expected 2023 to be a rough year for the U.S. housing market. In fact, among the 29 major housing forecast models, 24 forecasted a national home price decline for 2023.

      But so far, it hasn’t exactly come to fruition.

      Through the first few months of 2023, the U.S. housing market continues to show signs of stabilization. Existing and new home sales have inched up a bit this year, and homebuilder confidence has improved. And firms like Zillow, CoreLogic, and Black Knight have all reported positive month-over-month home price increases this spring.

      What’s going on? For starters, housing affordability has improved this spring as the average 30-year fixed mortgage rate, which topped out at 7.37% in November, came back down to around 6.5%. Additionally, a lack of homes for sale, coupled with the market entering its busier spring period, has—at least for now—pushed the national housing market back into equilibrium.

      That said, under the hood, the housing market isn’t exactly normal just yet: Some housing markets are booming right now (including Scranton) while other places (including San Jose) are still passing through a home price correction. And even within a particular market, it can vary a lot.

      To better understand just how weird—and divided—the housing market is right now, Fortune built seven interactive charts to display ZIP code level data for some of the country’s biggest states. These maps show the change in house prices, as tracked by the seasonally adjusted Zillow Home Value Index, between December 2022 and March 2023.
      …
      https://finance.yahoo.com/news/things-getting-really-weird-housing-072414287.html

    1. Face palm time: The widower insists he is not anti-vax, and was jabbed multiple times AFTER his wife died of the jab.

      Dude, you can’t fix stupid.

      1. widower

        That is amazing. Still trying to wrap my head around talking to a Walmart employee, woman (guessing 65-70, maybe older), who’s had every initial shot, booster, shingles, flu vax available. I have to increase my phony, because I think what I was thinking showed.

        Also, amazing to see an educated, impeccably mannered old white lady with perfectly coiffed white hair behind the pharmacy counter in a Vegas semi-ghetto Walmart. It’s almost like seeing a unicorn.

    2. Wait until 4 billion people finally figure out and accept that they were fooled into injecting a dangerous toxin into their body multiple times. Some won’t be able to admit they did it to themselves and their children.

      The next few years will be interesting times.

      1. I think few will be able to admit to themselves that they made a huge mistake, even if they are injured or lose a loved one.

  19. OT, sorry, personal. Probably regret mentioning this, private.

    A break in the ice. I’ve mentioned that I’ve been having trouble with my daughter not talking to me. She vilified me as a conspiracy theorist, also other problems. (So many offspring are being encouraged online to go “no contact” if there is disagreement.)

    Received a text apologizing for, among other things, being difficult to raise (it was my pleasure; I would kill for her ala “The Long Kiss Goodnight”), and most surprisingly, being “a sheep”.

    Now I’m slightly more worried now, because of the depressed tone, but maybe we can drop it and go on from here.

    I hate these people for what they’ve done to us.

          1. A shame. Saw my daughter today. She is all on board for “no contact”. No change of heart. Apparently I misunderstood the intent of her message (about her being sorry for being difficult to raise and a sheep). It was criticism.

            I should have known better. Nothing new here, like father, like daughter.

            Glad few will see this.

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