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Buyers Are Not Always Willing To Pay What The Seller Wants, It’s A Reality Check

A report from Sarasota Magazine in Florida. “The Sarasota metro area recently topped a national list that ranks places based on where home inventory saw the greatest increases over the previous year. With a 128 percent hike, our inventory more than doubled, topping other metros like Nashville, Tennessee, and Austin, Texas. Today, homes are sitting on the market for longer (five days last year vs. 23 days now) while bidding wars are mostly behind us. Many sellers are also out of touch with the current market. ‘Some of this is due to sellers trying to catch the last wave of a hot market,’ says Tina Ellis, a local agent with Preferred Shore.”

“Marlin Yoder, a local agent with Harry E. Robbins Associates, also sees an influx of short-term rental homes entering the market. Those properties were purchased by investors hoping to cash in on the area’s popularity. ‘A lot of people bought a home and didn’t put thought into what it takes to manage a vacation rental,’ Yoder says. ‘Now, they’re seeing if they can cash out.'”

Flagstaff Business News in Arizona. “Award-winning realtor Lori Anna Harrison with Zion Realty in Flagstaff says there is more sanity in the home-buying and home-selling market than in the past few years. Fewer homes are being purchased sight unseen and fewer buyers are needing to wave home inspections or make other concessions in order to win the contract. As a result, sellers are working harder and buyers are more discriminating. After years in a sellers’ market, Harrison says the Flagstaff real estate market appears to be more balanced. ‘When we are talking about homes priced over the $600,000 mark and where the home is not in move-in condition, it’s more of a buyers’ market.'”

From Vail Daily. “With limited inventory, there is no sign of a marked decline in values. If anything, they are stable, though a few pockets of the market have experienced some softening — mostly due to affordability — or being overpriced relative to condition and location. Alida Zwaan, a broker associate with Berkshire HomeServices Colorado Properties in the Vail/Lionshead office, says current luxury market buyers are being more selective. ‘Buyers are not willing to pay more than they believe is fair market value, not always what the seller wants to get for their home,’ Zwaan said. ‘It’s a reality check; if you want to sell, listen to the advice of an experienced broker versus one who just wants your business. The market stats don’t lie and the homes that are selling are priced right.'”

The San Francisco Chronicle in California. “The sprawling Marina home that once housed ‘Top Chef’ Season 1 contestants has finally sold. 3159 Baker St. struggled on the market. Originally listed in January for $4.4 million and then undergoing two price cuts, it was eventually relisted at $3.5 million in April. It ultimately closed at $3.6 million last week, which technically means it sold for over the asking price, even though those looking through the records can spot the real estate trick. More worrisome for the luxury real estate market in San Francisco is that the sale is also under the price the home sold for in February 2018 when it changed hands for $3.7 million. At one of the hottest points in the city’s housing market in 2016, the home was listed for $6.5 million.”

“‘Higher-priced home sales,’ typically defined as homes selling for $3 million or more, have been hit harder than certain segments of the San Francisco home market. Prices were down 57% in May 2023 when compared with the year prior, according to recent data from Compass.”

From Bankrate. “As spring wears on, the housing market continues to be lackluster on many fronts. NAR data from mid-May shows existing-home sales declining in all four major regions in the country, both month-over-month and year-over-year. The West continues to experience the most significant market cooling, down more than 30 percent from last year, followed by the Northeast. Some of the areas where prices are dropping the most sharply are the ones that were very steep to begin with. In San Francisco, for example, Redfin data shows that the median sale price has plummeted 17.8 percent since April of last year.”

“One silver lining is that prices in many popular markets are easing as compared to last year. In Seattle, for instance, prices have declined about 9 percent year-over-year, per Redfin. The decrease is 13 percent in Denver, 8 percent in Las Vegas and 5.4 percent in San Diego.”

Mansion Global. “To gaze south from New York’s Central Park these days is to look upon a physical manifestation of tens of billions of dollars of global wealth. A series of supertall, ultrathin condominium towers bear down on the southern end of the park, casting long shadows. Gilded, gated communities in the sky, this group of ‘supertalls,’ collectively known as Billionaires’ Row, was built with a single constituency in mind: the richest people on earth. They are homes, but they are also investment vehicles for the superrich. Some of the owners have never set foot in their apartments, viewing them instead as one might a stock or an artwork from a great master—a vessel in which to store wealth.”

“It didn’t last. When the high-end market began to soften in the late 2010s, One57 was the first to lose its luster amid competition from newer, competing buildings. There were high-profile foreclosures in the building, including one unit owned by shell companies linked to Kolawole Akanni Aluko, a Nigerian businessman accused by the U.S. of conspiring to pay bribes. In recent years, the building’s early buyers have sold for significant losses. One of the units tied to HNA sold for $31.9 million in 2021, far less than the $47.37 million it traded for in 2015, records show.”

“Central Park Tower had already battled market headwinds for roughly 18 months when the pandemic hit, effectively stalling progress entirely. By 2020, Extell had significantly revised its expectations for profit at the building, informing its bondholders in Israel that it would likely make 60% less than initially anticipated. Those projections have since fallen even further. Some of the building’s most prized units have sold for significant discounts. Last year, a Singaporean buyer paid just $43 million for a roughly 7,000-square-foot unit, a discount of 32.5% off the original asking price. ‘Our profitability has definitely been hit here in a big way,’ said developer Gary Barnett of Extell Development.”

The Toronto Star in Canada. “For at least a decade, a glittering glass box in the sky has been one of the hottest tickets in town. The Toronto condo investment has become a staple of the city and produced windfall profits, at least for those who bought at the right time. But a string of recent reports on property investments has raised some eyebrows. Most notably, one from market research firm Urbanation and CIBC Capital Markets found that for the first time, more than half of investors who bought pre-construction condo units in the GTA were losing money.”

“Is this a moment of truth for the investment condo? ‘The whole condo investment future isn’t as solid a bet as it used to be,’ said Cherise Burda, executive director of city building at Toronto Metropolitan University. Some projects are being paused due to factors such as high interest rates and cost of construction, and that’s leading to a drop in demand. ‘What I hear out there is, it’s harder to get investors,’ Burda said.”

The Helsinki Times. “The price development of new residential units has been weaker than official statistics suggest due to gaps in the statistical monitoring of prices, Juhana Brotherus, the chief economist at the Federation of Finnish Enterprises, stated to Helsingin Sanomat. Brotherus believes the prices of new dwellings in housing companies dropped much more sharply in the first quarter of the year than the two per cent suggested by official statistics. The prices of old dwellings in housing companies decreased by 5.5 per cent year-on-year between January and March, according to data released by Statistics Finland. The data also show that the sales of newly built dwellings decreased by more than 70 per cent from the corresponding period in 2022.”

“Brotherus viewed that construction companies have an ‘obvious interest’ to report high house prices but not low prices because they realise that agencies and households use the information to evaluate the market prices of vacant dwellings. ‘It’s an open secret that price statistics for new dwellings aren’t of particularly high quality,’ he said. Construction companies also seek to fuel sales with various financial incentives that are not necessary reflected in the official price statistics. ‘Price cuts are often not implemented as price cuts per se, but as cuts in maintenance fees or promises to pay for remodelling. Technically they’re price cuts,’ he argued.”

From ABC News. “The value of homes in regional New South Wales has plummeted by almost 10 per cent in the past year, the sharpest decrease since before the pandemic. CoreLogic data showed in the 12 months to May, there had been declines in most regions, with house values across regional NSW dropping by 9.8 per cent. Housing markets also cooled in capital cities, with Sydney’s falling 8.2 per cent during the same period. The bulk of the declines were between May 2022 and January 2023 when Australia’s home value index fell 8.4 per cent, the steepest decline in the country’s history.”

“Corelogic’s head of research, Tim Lawless, said regional areas that proved popular during the pandemic, including the Richmond-Tweed and the Southern Highlands, had experienced the steepest declines in property values. ‘Markets like Byron Bay, we’ve seen housing values in that market fall by nearly 22 per cent over the past 12 months,’ Mr Lawless said. ‘The Southern Highlands and Shoalhaven have also recorded a larger drop than most other regions, down 16 per cent over the past 12 months.'”

From News.com.au. “The Reserve Bank spent nearly $25,000 of taxpayers’ money on an exclusive dinner for Perth’s business elite hours after raising the cash rate last month for the 11th time, according to a report. Freedom-of-information documents obtained by The West Australian reveal the total bill for the dinner at Fraser’s Kings Park, held hours after the RBA’s May 2 board meeting where it lifted the cash rate to 3.85 per cent, came in at $24,650.50.”

“At its June meeting this week the central bank raised rates again to an 11-year high of 4.1 per cent, with RBA governor Philip Lowe sparking outrage the following day by saying struggling Aussies should work more and spend less. According to The West Australian, the dinner last month was attended by 140 VIP guests. Dr Lowe was reportedly asked on the night about the optics of having an exclusive dinner even as many Australians were having to cut back, responding, ‘We’re here in Perth having this fabulous dinner because it’s really important we get out and mix with people, hear from community leaders, hear from business leaders, hear from people in the NGO sector.’ The dinner menu included grilled barramundi, risotto and lemon tart.”

“The total bill, which also included a $4331 drinks tab, worked out to just over $176 per person. In addition to the $3000 initial outlay, the $90 per person set menu was increased by three upgrades — including extra canapes and side dishes — totalling $22 per head. Financial comparison website Finder estimates that the rate hike will set Aussies with an average loan back by an additional $1200 every month. ‘If people can cut back spending, or in some cases find additional hours of work, that would put them back into a positive cash flow position,’ Dr Lowe told the Morgan Stanley summit on Wednesday.”

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This Post Has 74 Comments

  1. ‘Higher-priced home sales,’ typically defined as homes selling for $3 million or more, have been hit harder than certain segments of the San Francisco home market. Prices were down 57% in May 2023 when compared with the year prior’

    It’s a good thing everybody put 60% down!

    ‘It ultimately closed at $3.6 million last week, which technically means it sold for over the asking price, even though those looking through the records can spot the real estate trick’

    Openly discussing market manipulation again.

    ‘It’s an open secret that price statistics for new dwellings aren’t of particularly high quality,’ he said. Construction companies also seek to fuel sales with various financial incentives that are not necessary reflected in the official price statistics. ‘Price cuts are often not implemented as price cuts per se, but as cuts in maintenance fees or promises to pay for remodelling. Technically they’re price cuts’

    They do the same thing here Juhana. It puts more recent buyers underwater from the get go.

    1. They meant to say “home sales”, not prices. While eventually I do believe prices in most of California will be down around 50%, they aren’t even close yet, even in literal sh!tholes.

  2. ‘We’re here in Perth having this fabulous dinner because it’s really important we get out and mix with people’

    You deserve it Phil, what with the price stability and all. I’m comforted that you don’t have to drive yerself around for the rest of yer life. Enjoy that limo!

    ‘‘If people can cut back spending, or in some cases find additional hours of work, that would put them back into a positive cash flow position’

    Now Phil, you and I both know these loanowners are going to have work extra jobs and stop eating. Their kids too.

    1. Sad Sunday. Phil can’t get any respect sharing his brilliant wisdom, and Ben is raining on his parade. LOL

  3. ‘Buyers are not willing to pay more than they believe is fair market value, not always what the seller wants to get for their home’

    Alida, they’re going to miss out!

    ‘bidding wars are mostly behind us. Many sellers are also out of touch with the current market. ‘Some of this is due to sellers trying to catch the last wave of a hot market’

    Are you suggesting they give it away Tina?

  4. ‘A lot of people bought a home and didn’t put thought into what it takes to manage a vacation rental,’ Yoder says. ‘Now, they’re seeing if they can cash out.’”

    Die, speculator scum.

  5. ‘It’s a reality check; if you want to sell, listen to the advice of an experienced broker versus one who just wants your business.

    Realtors are liars.

  6. “The Burisma executive sought the advice of the confidential source, a business professional, on gaining U.S. oil rights and getting involved with a U.S. oil company, the sources familiar with the document said. The Burisma executive was speaking with the confidential source to “get advice on the best way to go forward” in 2015 and 2016.

    It’s “not $50,000,” the Burisma executive replied. It’s “$5 million.”

    1. post: For this one, let the half that is occupied be on the side that is against the tilt. Problem-solution.

      1. First they need to adjust the name to ‘The Decade Tower’ then they should sell it to the city for illegal invader or reparation housing. Win-win.

    2. “Each pile is 24 inches in diameter and has been driven 270 feet to bedrock and is designed to support 1 million pounds of weight, according to the San Francisco Chronicle.”

      I’d bet that a 2-ft diameter pile x 270-ft tall can easily buckle under 1 million pounds of weight during seismic activity.

      1. Easy to test at home! Take a 4.4mm diameter stick about a foot long and rest the front end of an F-150 on it.

  8. ‘Originally listed in January for $4.4 million and then undergoing two price cuts, it was eventually relisted at $3.5 million in April. It ultimately closed at $3.6 million last week, which technically means it sold for over the asking price, even though those looking through the records can spot the real estate trick.”

    Relisting after a price reduction and pretending the new lower list price is the original list price is one of the oldest tricks in the relitter’s playbook.

  9. “One silver lining is that prices in many popular markets are easing as compared to last year. In Seattle, for instance, prices have declined about 9 percent year-over-year, per Redfin. The decrease is 13 percent in Denver, 8 percent in Las Vegas and 5.4 percent in San Diego.”

    Woo-hoo! San Diego prices are falling!

  10. Has the Fed decided to abandon its punchbowl removal operation? Or merely put it on hold?

    1. Personal Finance ·markets
      The current stock market rally has sent valuations so high that it may be ‘a sign the party is about to end’
      BY Lu Wang, Isabelle Lee and Bloomberg
      June 9, 2023 at 4:44 PM PDT
      The Nasdaq exchange.
      Michael Nagle/Bloomberg via Getty Images

      Markets, Boaz Weinstein said this week, are “constantly wrong.” Telling which one is most astray right now has become the big challenge for investors facing conflicting signals across asset classes.

      Is it stocks, where an advance previously confined to a handful of tech megacaps showed distinct signs of broadening out this week? A $6 trillion rally hangs in the balance. Or maybe it’s bonds, where emanations of gloom abound and bets on Federal Reserve rate cuts are multiplying in a market where volatility is running twice as high as it was just two years ago.

      For investors, the potential penalties for being on the wrong side of the trade — essentially, miscalculating the likelihood of a recession — are getting higher with every leg up in the S&P 500, which this week crossed into bull-market territory. JPMorgan Chase & Co. analysts put the cost of mistimed bullishness as high as 20% should equity traders turn out to have misjudged the economy’s path.

      “Something has got to give,” said Peter Cecchini, director of research at Axonic Capital. “With equity valuations this stretched in many sectors relative to realistic forecasts for 2023 earnings, we’d bet the give comes from equities.”
      …
      https://fortune.com/2023/06/09/stock-market-bull-rally-recession-risk-valuations/

    2. Bloomberg
      Markets
      Founder of Yield-Curve Indicator Says Recession Odds Are Rising
      – Scope of yield-curve inversion ‘unprecedented,’ Harvey says
      – ‘This is perhaps the lull before the storm,’ he says
      By Vildana Hajric
      June 8, 2023 at 4:30 AM PDT

      The odds of a US downturn are rising because the Federal Reserve has already pushed interest rates high enough to stall the economy, according to Campbell Harvey, who is well known for his research on the yield curve as a recession indicator.

      The likelihood of a soft landing has given way to increased risk of an economic contraction, Harvey, a Duke University finance professor and director of research at Research Affiliates, wrote in a new report. The damage of the Fed’s hiking cycle has already been wrought, he argues, and many investors and economists are currently viewing the state of things with rose-colored glasses.
      …

    3. The bull market in stocks won’t last long – and there’s a 99% chance of a US recession, top economist David Rosenberg says
      Theron Mohamed
      Jun 9, 2023, 9:54 AM PDT

      – David Rosenberg says the bull market in stocks won’t last, and a recession seems assured.

      – The veteran economist noted that jobless claims just hit their highest level since October 2021.

      – Rosenberg pointed to a slew of indicators suggesting stocks are overvalued and destined to tumble.
      …
      https://markets.businessinsider.com/news/stocks/stock-market-outlook-spx-bull-us-economy-recession-unemployment-rosenberg-2023-6

    4. News
      Jun 11, 2023
      Economics
      by Kevin Helms
      15 hours ago
      Economist Peter Schiff Says the Fed Destroyed US Banking System — ‘It’s Insolvent’

      Economist Peter Schiff says the U.S. banking system is insolvent. He stressed that the Federal Reserve destroyed the U.S. banking system, citing near-zero interest rates at banks while “the Fed funds rate is 5.25% and the real inflation rate is much higher.” Schiff previously warned that the U.S. banking system is on the verge of a “much bigger collapse than 2008.”
      Peter Schiff on U.S. Banking Crisis

      Gold bug and economist Peter Schiff is back with more warnings about the U.S. economy. He tweeted Friday that the Federal Reserve destroyed the U.S. banking system, emphasizing that it is insolvent and would collapse without government help. Schiff wrote:

      Bank of America pays just .05% interest on savings accounts and nothing on checking accounts. But the Fed funds rate is 5.25% and the real inflation rate is much higher. The Fed destroyed the U.S. banking system. It’s insolvent and would collapse without government backstops.

      This was not the first time that the economist sounded the alarm about potential issues within the U.S. banking system. In March, he tweeted: “The U.S. banking system is on the verge of a much bigger collapse than 2008. Banks own long-term paper at extremely low interest rates. They can’t compete with short-term Treasuries. Mass withdrawals from depositors seeking higher yields will result in a wave of bank failures.”

      The interest-rate issue has been highlighted by numerous individuals, including Tesla and Spacex CEO Elon Musk. The billionaire explained in May that the U.S. Treasury and the Federal Reserve have created a massive gap between money market accounts (Treasury Bills) with interest rates of about 4.5% and bank accounts with interest rates of less than 1%. “That’s a massive incentive to move money out of bank accounts,” he emphasized.
      …
      https://news.bitcoin.com/economist-peter-schiff-says-the-fed-destroyed-us-banking-system-its-insolvent/

      1. “…the Federal Reserve have created a massive gap between money market accounts (Treasury Bills) with interest rates of about 4.5% and bank accounts with interest rates of less than 1%.”

        5%+ on the 1-year Tbill, last time I checked. I have recently been helping friends and family convert their bank balances into TreasuryDirect accounts.

        What’s stopping you from claiming your fair share of the latest version of free money?

        https://www.treasurydirect.gov/

  11. So the FBI and the CIA knew it was there when they said Hunter’s laptop was Russian disinformation.

    After initially crying ‘inaccurate,’ Biden admin confirms China has had a spy base in Cuba since at least 2019

    By Isabel Keane
    June 11, 2023

    China has teamed up with a communist ally to spy on the US just 90 miles south of Florida, White House officials confirmed.

    The country has been operating a spy base in Cuba since at least 2019 as part of an effort to ramp up its spying efforts, a Biden administration official said, noting that the issue has been “ongoing” and predates Biden’s presidency.

    The anonymous White House official said that the US intelligence community has known of China’s spying from Cuba for some time, deeming it an “ongoing” matter” that is “not a new development.”

    The existence of the Chinese spy base was confirmed by The Wall Street Journal on Thursday, which reported that China and Cuba had reached an agreement in principle to build an electronic eavesdropping station on the island.

    Following the news Thursday, the White House called the report inaccurate.

    “I’ve seen that press report, it’s not accurate,” White House National Security Council spokesman John Kirby said in an MSNBC interview Thursday. “What I can tell you is that we have been concerned since day one of this administration about China’s influence activities around the world; certainly in this hemisphere and in this region, we’re watching this very, very closely.”

    Cuban Deputy Foreign Minister Carlos Fernández de Cossío also denied the report in a Twitter post on Saturday.

    https://nypost.com/2023/06/11/biden-admin-confirms-china-has-had-a-spy-base-in-cuba-since-at-least-2019/

    1. the obvious democratic strategy is to just lie, lie, & lie again until enough time has elapsed for people to lose interest and chase another butterfly.

  12. Former First Minister Nicola Sturgeon has been arrested by police investigating the finances of the Scottish National Party. Police confirmed that a they took a 52-year-old woman into custody as a suspect and she is being questioned by detectives.

    Ms Sturgeon is the second SNP leader in a row to be taken in by police for questioning in relation to an ongoing inquiry – the first was Alex Salmond. Detectives are investigating how more than £600,000 in donations for a proposed IndyRef2 campaign has been spent by the party.

    Those within the SNP had feared Ms Sturgeon was next in line for arrest after Police Scotland detained two other senior figures in connection with the probe.

    https://www.inverness-courier.co.uk/news/nicola-sturgeon-is-arrested-by-police-investigating-snp-fina-316670/

      2. From the comments

        @tonyhaynes9080
        9 hours ago
        When she goes to jail, imagine the joy if she had to share a cell with a man masquerading as a woman.
        282
        Reply

        30 replies

  13. I don’t understand, is US residential real estate a free market? If demand is up this much, where is supply, why builders are not building, not enough lan in US?

    1. Construction is at an all-time high. Demographics are collapsing. People seeking passive income bought multiple properties for STRs. As money dries up, demand will crash and inventory will spike. FOMO in reverse. CR8R!

        1. It’s not about the number of people. It’s about the number of households being formed and having children that supports demand for housing.

    2. There are thousands of homes for sale where I live, but they all go contingent within 2 days of being listed on major websites. Demand must be there, right?

      1. And given you’re overly simplistic view and new-to-me handle, I’d wager you’re a trolling relitter.

        1. “where is supply, why builders are not building, not enough lan in US?”

          Sounds like a foreigner to me- or someone with a liberal arts degree from San Francisco State. In either case, they know not of what they speak.

          1. I was following Ben Joneses this site since 2004, I bought a house in Temecula , Ca for 2010 for $270000 and sold in August of last year for $650000 and we moved to South Carolina, but still I hoped that housing inCalifirnia will return to 2010 prices… 😉

        2. “I’d wager you’re a trolling relitter”

          Well, I learned long ago the Realtors are Liars.

    1. Maybe if Secretary Pete isn’t too busy chestfeeding the baby he can go up to Philly and address the problem.

      Just like he did in East Palestine, OH.

      1. Secretary Pete addressed this via zoom while chestfeeding and proclaimed the bridge is racist because it collapsed in Philly.

      2. “Maybe if Secretary Pete isn’t too busy chestfeeding the baby he can go up to Philly and address the problem.”

        Already taken care of!

        Oh wait, that $Trillion was for whale killing off shore windmills, big $ for Chineese solar panels, electric car insensitives for wealthy people and other assorted cash cow kickbacks to the Biden Crime Family donors.
        “Wheres the money?”.

        NEW: Major Projects in all 50 states

        Nov 15, 2021

        Delivering Results from President Biden’s Bipartisan Infrastructure Law

        President Biden forged consensus and compromise between Democrats, Republicans, and Independents to demonstrate our democracy can deliver big wins for the American people. After decades of talk on rebuilding America’s crumbling infrastructure,

        https://www.whitehouse.gov/build/

    2. “Reminds me oft he Mianus bridge collapse in Greenwich CT decades ago”

      I went over the Mianus River bridge what I would guess would be thousands of times from when I was born until it collapsed just about one year after I married my first wife and moved to Juno Beach Fl, It was about 5 miles from my house in Old Greewich. As a young kid my father always said there was something wrong with that bridge by the way it rocked the car when crossing and after getting my licence and driving over myself I agreed, you could feel it.

      Remembering the Mianus River bridge collapse
      Jim Shay

      June 27, 2019

      https://www.ctpost.com/local/article/Remembering-the-Mianus-River-bridge-collapse-14055123.php

        1. The drains on the bridge deck (road surface) were plugged on purpose years earlier by road crews and forgotten. Subsequent DOT Bridge inspections overlooked the drains. When rain water backed up forming a pool it found a drain path along the pins and bearings located at the expansion joints, and rust infiltrated the bearings preventing rotation of the links. As the rust continued and grew a moment was exerted on the links, which exceeded their design strength leading to failure.

  15. A third of California families don’t earn enough to afford basic needs, United Way finds (6/7/2023):

    “More than one-third of California families don’t have enough money to meet their basic needs, according to a newly released study from the United Ways of California.

    The 2023 version of the study found nearly the same number of Californians struggled to make ends meet as the last four iterations of the report, the first of which was released in 2015. Housing and child care costs were often the two largest expenses that families had to cover.

    About 3.7 million California households, or 34%, fall below the real cost measure, the 2023 report found. The vast majority of those households – 97% — have at least one adult working full-time.”

    https://news.yahoo.com/third-california-families-don-t-120000286.html

    Gavin Newsom wants to export this to the rest of the country.

    It’s a World Economic Forum success story!

  16. This is impossible because Liz Cheney didn’t show any of this during the Jan 6 committee hearings.

    Fedsurrection: DC Cop Was Instigating Illegal Activity During Jan. 6 Protest, Video Reveals

    Infowars.com
    June 11th 2023, 11:51 am

    Rep. Barry Loudermilk (R-Ga.) confirms video exposes Metro police officer instigating violent activities during J6.

    Collin Rugg
    @CollinRugg

    JUST IN: U.S. Rep. Barry Loudermilk confirms that an undercover Metro police officer was instigating illegal activity on January 6 by urging protesters to enter the Capitol building.

    “We know that it is one of their officers and at one point he is encouraging, and it appears… Show more

    https://twitter.com/CollinRugg/status/1667588662417305600?s=20

    1. The 2020 election was stolen.

      Been a while since anybody said that, but yeah, the 2020 election was stolen. And the Deep State are geared up to steal 2024 as well. DJT was on FIRE🔥 yesterday in Georgia and North Carolina. He does not back down…

        1. Debauchery is behavior considered excessively decadent, indulgent, and depraved. It’s especially used to collectively refer to drug use, excessive drinking, promiscuous sex, and the kind of uninhibited activity that happens at wild parties.

  17. Jack Posobiec made this particularly astute comment on Twitter last night:

    The underlying thread to the Trump indictment is an attempt by the administrative state to usurp the power of the Presidency over national security

    Article 2 of the Constitution declares the President, and he alone, the supreme Commander in Chief

    That’s what they want to remove

  18. O say does that Trans-spangled banner yet wave

    White House accused of US Flag Code violation over Pride Month display

    By Anders Hagstrom, Fox News
    June 11, 2023

    Biden celebrated the LGBT community in a post Saturday, revealing a set of flags hanging from the White House that faced the South Lawn.

    The display includes a rainbow-colored Pride flag flanked by two American flags.

    The event, which hosted performers and speakers representing LGBT causes, acclaimed the Pride community as “the bravest and most inspiring people” and an example for the US and the entire world.

    “Outside the gates of this house are those who want to drag our country backwards, and so many battles yet to be braved. But today, we’re not here to be strong. We’re not here to be courageous. Even though for so many of you, just coming to this event is an act of bravery,” said first lady Jill Biden.

    Biden also praised the LGBT community as “some of the bravest and most inspiring” people he has ever known.

    “You know, we all move forward when we move together with your joy, with your pride lighting the way,” the president continued. “So today, let us proudly remember who we are – the United States of America.”

    https://nypost.com/2023/06/11/white-house-accused-of-us-flag-code-violation-over-pride-month-display/

    1. They really are trying to demoralize us. The message is clear:

      -We can accept bribes, both foreign and domestic, and there is nothing you can do about it.
      -We are going to fan the flames of inflation with mind boggling budget deficits, and there is nothing you can do about it.
      -We are going to give perverts access to your children, who will mutilate and rape them and there is nothing you can do about it.
      -We will dedicate a whole month to celebrate perversion and depravity and there is nothing you can do about it.

      1. perversion and depravity

        Are not accomplishments.

        If you don’t want to be afraid, stand on the Rock of Ages. None of this BS is anything new.

    1. Video: Woke Teacher Threatens to Punish Students Unless They Watch LGBTQ Propaganda

      Infowars.com
      June 11th 2023, 10:51 am

      The video begins with a classroom of Edison High School students groaning in unison as the Pride video begins, prompting the teacher to threaten them with Saturday school if they keeping acting up.

      “Why are you showing this to kids?” one student asks as the screen shows a pair of girls kissing each other.

      “Turn it off!” another says.

      The math teacher then pipes in, “Hey! I’ll warn you guys now, if you’re going to be inappropriate, I will have supervision down in here for all of you in Saturday school for next year. So knock it off!”

      Ironic how the teacher accused the students of being “inappropriate” for not wanting to see compulsory video of 2 girls kiss each other on screen.

      And what does Pride have to do with math?

      Users on social media called this incident out for what it is: indoctrination.

      https://www.infowars.com/posts/video-woke-teacher-threatens-to-punish-students-unless-they-watch-lgbtq-propaganda/

  20. Enjoy!

    WalletHub: Credit Card Debt Study

    U.S. consumers are back to bad habits when it comes to credit card debt. Consumers added an all-time record $179.4 billion in new credit card debt to their tab during 2022, capped off by an $84.9 billion increase during the fourth quarter alone. Now, consumers have started 2023 by paying down just $24 billion – the second-smallest first-quarter credit card debt paydown in the past decade.

    You can find more credit card debt statistics and insights into the financial health of U.S. consumers below.

    1. People are using their plastic as an “income extender”, so they can postpone lifestyle changes. Or some case, to purchase basics.

      Once the credit lines are maxed out even bologna sandwiches will be unaffordable. I know that local food banks are already struggling. I can only imagine what it will be like when the masses start running out of money.

  22. Regarding office building REITs…

    In a parallel universe SoCalJim said: “Fed will pay top dollars for these properties, then they would claim that the buildings are impossible to unload at “current” market prices and then then they would sell them at the lowest price possible to the usual suspects, and if it’s not obvious Fed will also loan the purchase money at 0% interest. All in all it will be just another day at the Banana Republic.”

    This guy knows the rules and who rules.

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