If You Had Purchased A Year Ago With Ideas To Sell Today, You Could Sell For A Loss
A report from the Seattle Times. “The cooling housing market is stripping more equity from homeowners in Washington than in any other state in the country. On average over the last year, Washington homeowners lost about $74,300 in equity, a measure of the difference between how much a home is worth and how much the owner owes on the mortgage, according to CoreLogic. That 18% decline marked the largest drop in the country from the first quarter of last year to the first quarter of 2023. The median King County home price in May stood at $910,000, down 9% from a year ago, according to the Northwest Multiple Listing Service.”
From DS News. “ATTOM’s Q1 2023 U.S. Home Flipping Report shows that 72,960 single-family homes and condominiums in the nation were flipped in the first quarter of the year—representing 9% of all sales nationwide. Metro areas reporting the weakest returns on typical home flips in Q1 of 2023 were found in: Austin, Texas (10.2% loss). Phoenix (2.4% loss).”
Urban Milwaukee in Wisconsin. “Three large, private equity-backed corporate landlords operate in Milwaukee’s house rental market. All three began buying lots of Milwaukee houses in 2018 or 2019, and they ended 2022 owning just shy of 1,500 homes in total. The largest, VineBrook Homes, bought over 450 houses in Milwaukee last year, according to city property records. But all three companies mostly ceased buying houses by late 2022, and in fact, two of the three have spent early 2023 selling houses. VineBrook, has actually lost money on these transactions. Direct comparisons were possible for 11 of VineBrook’s 2023 sales, all of which took place between March 16 and May 12. VineBrook paid $966,112 for these 11 properties, owned them for an average of 103 weeks and sold them for $909,500 – a loss of 6%. VineBrook originally paid 115% of the assessed value of the houses it went on to sell in 2023. When it sold them, it received just 83% of the current assessed value.”
“VineBrook’s troubles extend far beyond Milwaukee. In January, the company forfeited $41 million in initial deposits after terminating purchase agreements to buy about 2,900 more houses (not in Wisconsin). This contributed to its $92.4 million net loss in the first quarter of 2023. VineBrook also reported a net loss of $2.7 million in the first quarter of 2022. The company also faces challenges from rising interest rates. As of March 31, the company’s total debt was $2.6 billion, of which $1.9 billion was in floating interest rate loans.”
Tampa Bay Times in Florida. “The fate of a historic apartment complex in downtown St. Petersburg hangs in the balance while the owners decide what to do with the property nearly four years after it was set to be demolished. The property has been cited by St. Petersburg Codes Compliance at least 24 times since 2021, according to records from that department. That group announced plans to build a $75 million, 23-story mixed use tower set to open in 2024. But now they say they don’t have the funds to make it work. ‘We’re heading into a recession. Interest rates are at record levels, 40 year highs. The metrics aren’t there for us to proceed right now,’ Richard Heiden, an attorney retained by the property owners, told the St Petersburg Code Enforcement Board.”
The Real Deal on Illinois. “Matt Garrison’s R2 Companies is looking to pull off another daunting rescue of a downtown Chicago office building. The Chicago-based development firm is under contract to pay approximately $70 million to buy the 41-story tower at 150 North Michigan Avenue, several people familiar with the negotiations said. The deal, if it closes, would mark a huge loss for the seller, CBRE Investment Management, which paid $121 million for the 661,000-square-foot property in 2017 and then sunk another $35 million into its renovation, according to public records and previous reports. Like several other downtown Chicago office landlords staring down upcoming loan maturities, the investment division of CBRE had little choice but to make a deal at a discount or face the prospect of foreclosure when its $87 million loan from MetLife matures in September.”
Colorado Public Radio. “It’s pretty apparent that most office workers enjoy the perks of working from home and are loath to go back to a daily commute, leaving a lot of downtown Denver’s skyscrapers half-empty on any given weekday. The one thing that is all but certain is that many office buildings are worth significantly less money now than they were before the COVID pandemic. Republic Plaza — the largest office tower in Colorado and an icon of the Denver skyline since it was built in the 1980s — is worth less than half of what it was valued at in 2012, according to loan documents for the property. That loss equates to hundreds of millions of dollars.”
“‘The value’s not gonna go back to what it used to be,’ said Vivek Sah, director of DU’s Burns School of Real Estate and Construction Management. said. ‘We are seeing [that] across all the markets in the country. It’s not ever gonna be the same .… If you add what’s happening in our downtown in terms of homelessness and crime and other concerns, the downtown market is going to shift.'”
The Los Angeles Times in California. “Facing a persistent housing crisis, Los Angeles is doubling down on converting unused commercial buildings into residential properties. The dramatic increase in interest rates over the last year made refinancing loans for office buildings very difficult, prompting defaults and distressed sales. ‘Maturity defaults‘ — loans that have come due and cannot be refinanced — have surged. Nearly 90% of office loans maturing this year are likely to face difficulty in refinancing. In downtown L.A., skyscrapers are selling for half of what they did a decade ago. The clock is ticking to address L.A.’s potential “doom loop” for office real estate.”
From Global News. “Finding a starter home with a bit more space to accommodate family growth can be great for building equity, says Nick Kyte, real estate agent with Coldwell Banker First Ottawa Realty, letting your home rise in value for longer so that your next jump up the property ladder can be to an even better property. Toronto Realtor Sophie Chen says planning to stay for too short a timeframe can also backfire. Take, for instance, the past year on the housing market, which has seen property values decline by varying degrees in many cities across Canada.”
“If you had purchased a year ago with ideas to sell today, you might not have built up any equity at all and could even sell for a loss if you stick to your original plan, Chen says. ‘You might want to stay longer to make sure you can not only break even, but make a substantial amount of equity in your home before you move out.’ Downturns in the market can also backfire on buyers of new builds like condo high-rises that are common around the Greater Toronto Area, warns Chen. Some builders have faced lengthy construction delays and difficulty securing financing to proceed with condo projects as market conditions have tightened in recent months, she says. Buyers who put money down on a new build may not qualify for the same mortgage amount as they did a year ago when interest rates were lower, Chen says. And after the market correction, your lender might not appraise the property at the same value as it had previously, which could leave you short on funds to close, she adds.”
The Guardian in the UK. “Liam, 36, a senior IT manager and married father-of-one from Newcastle upon Tyne, is one of millions of homeowners whose mortgage payments will rise even higher after the Bank of England on Thursday put up the base interest rate to 5% – a 15-year high. Together with his husband, Liam bought his four-bedroom house in 2019 for £269k, and the couple’s three-year mortgage deal, refixed at 1.64% in 2020 just before the first lockdown, expired in March. The couple’s monthly repayments have increased by 50% since they took out the mortgage, from £800 to £1,200. At the same time their energy tariff went up in price and so did their nursery fees.”
“‘It’s a perfect storm,’ says Liam. ‘I looked at fixed deals yesterday and they had gone up again. I don’t want to fix at 6 or 7%, and feel slightly despondent.’ Should the Bank’s rate climb to 6%, as the financial markets are anticipating, the couple may have to turn to family for help. ‘That’s a real worry – we would have to find a lot of extra money,’ Liam says. ‘The value of our house has gone down. I’m blaming Liz Truss entirely for this.'”
From ABC News. “Cutting back on luxury items, holidays and trips to the gym have been necessary for Nick Trezise’s family as interest rate rises continue to heap pressure on household budgets. The family of five live in the outer Perth suburb of Forrestfield, which was ranked the third worst suburb for mortgage arrears in Australia in a recent S&P Global Ratings report — and an expert says it is indicative of broader trends in the housing market. Katoomba in the Blue Mountains region of NSW ranked first and Bonnyrigg, also in NSW, ranked second.”
“Mr Trezise said while it would take both he and his wife losing their jobs to fall behind with their repayments, they have still had to make changes to provide for their three primary-school-aged children. ‘The increase is a lot for a family of five, we have just remortgaged with another lender. It’s affecting everyone and it’s affecting us as well. We’re definitely having cutbacks. We’ve stopped going to the gym, me and my wife, obviously cutting back on holidays, less luxury items as well.'”
“Mining worker Katherine said her mortgage repayments had gone up by roughly $2,000 per month. ‘We have to stick to a strict budget and we essentially don’t go out anymore,’ she said. ‘It’s continually getting harder and harder. There’s no relief in sight.’ Katherine said she and her husband had to start taking on odd jobs to make ends meet, like ironing, mowing lawns and washing cars.”
The South China Morning Post. “The first-round sales of a new residential development in Ap Lei Chau, priced more aggressively than other recent launches, were abruptly called off just hours before it was set to kick off on Saturday, as Hong Kong developers rush to release homes at lower prices ahead of anticipated interest rate hikes. The Aruna project, developed by Chuang’s China Investments, had planned to offer 25 units ranging from 205 sq ft to 317 sq ft, priced between HK$5.31 million and HK$8.58 million (US$1.09 million) after discounts, or HK$25,945 to HK$27,498 per square foot, according to the original sales information. Both Centaline Property Agency and Midland Realty, the sales agents for the apartment building, said the developer did not disclose the reason behind the sales cancellation.”
“The rare move by Chuang’s China comes as Hong Kong developers race to offload flats at price levels not seen in five years amid weak demand and a burgeoning inventory of new homes. Homeowners are also putting up their flats for sale at a discount. In the first five months of the year, 10.2 per cent of second-hand transactions in large-scale property developments were sold at a loss, up about 2 percentage points from the second half of 2022, according to Centaline. The average loss stood at 8 per cent.”
CNN on China. “One photo shows the young woman sprawled facedown on the ground in a graduation gown, her tasseled cap discarded to the side. Others show her slumped over a chair, collapsed against a wall, and hanging listlessly over a staircase banister. But the woman in these images hasn’t been harmed – at least, not physically. These are graduation photos, and their theme is ‘being more dead than alive,’ according to the accompanying caption.”
“In recent weeks, Chinese social media has become awash with tongue-in-cheek images like these, posted by fresh graduates who have chosen to eschew the typical polished portraits in favor of shots they say offer a truer reflection of the tough reality they face. A record 11.6 million college students are expected to enter the job market this summer, but their prospects look bleak. Urban youth unemployment is at record levels, reaching 20.8% in May, and an influx of new job seekers will only increase the competition.”
“‘This master’s degree…is finally…finished,’ one student wrote on the Chinese app Xiaohongshu, next to a photo of herself on the ground, barely clinging to her graduation cap and thesis packet. In another picture, she pretends to throw her thesis into a recycling bin. Li Nian, a PhD student who graduated this past week, is among those to have posted ‘more dead than alive’ style photos. But despite submitting ‘countless resumes,’ none of the recruiters or employers replied, she said. She recalled going to a job fair at her school, and seeing recruiters throw ‘a thick pile of resumes into the trash when they wrapped up. Because they are not short of people.'”
“One recent post on China’s Twitter-like platform Weibo summed up the darkening mood. ‘Why is everyone reluctant to have children? The reason is very simple,’ they wrote. ‘You spend more than 20 years of energy, sweat, and a million yuan to raise a college student who can’t even find a job after graduation – or if they do, it’s with a monthly salary of 3,000 yuan ($418). Every day you start work early, finish late, and take out loans to buy your child a house and car.’ At the end of the day, the poster concluded, not having children – who would in turn have to suffer the same way – might be the ‘kind thing to do.'”
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‘VineBrook’s troubles extend far beyond Milwaukee. In January, the company forfeited $41 million in initial deposits after terminating purchase agreements to buy about 2,900 more houses (not in Wisconsin). This contributed to its $92.4 million net loss in the first quarter of 2023’
They just gave it away, and paid million$ for the privilege.
I’m trying to decide which of these sh$thole countries with a queen on their pesos has the whiniest b$tches.
Shirley this is a one-off situation that in no way detracts from the rosy economic picture as the success of “Build Back Better” and the “Inflation Reduction Act” takes us to new heights of debt-fueled Keynesian prosperity.
‘‘The increase is a lot for a family of five, we have just remortgaged with another lender. It’s affecting everyone and it’s affecting us as well. We’re definitely having cutbacks. We’ve stopped going to the gym, me and my wife, obviously cutting back on holidays, less luxury items as well’
Nick, a casual reading of yer crater makes it clear you, yer wife and those 3 kids are still eating. Being a winnah! isn’t easy you know.
Nick, I give you the musical stylings of the Marsh Family as you deal with the scrotal pain inflicted by the cost of living.
https://www.youtube.com/watch?v=5ROP5Z-8Jl0
Liam should not only be used to getting buggered, he should try to show a bit more enthusiasm for his choices.
Chinese export companies need to work on their Engrish.
https://twitter.com/RudyHavenstein/status/1604171899008823297?
“ATTOM’s Q1 2023 U.S. Home Flipping Report shows that 72,960 single-family homes and condominiums in the nation were flipped in the first quarter of the year—representing 9% of all sales nationwide.”
Is 9% of sales somehow unusual? Sounds high, but some historical context would be helpful to know.
“Metro areas reporting the weakest returns on typical home flips in Q1 of 2023 were found in: Austin, Texas (10.2% loss).”
How do flippers make ends meet if they lose 10% on average?
Does that include holding and closing costs?
Not clear, but I doubt it…
Did you give up on stocks?
There’s always private equity, for those of means.
Yahoo
Moneywise
Super-rich Americans are giving up on the stock market, hold record levels of cash — here’s why and what they’re plowing their wealth into
Vishesh Raisinghani
Sat, June 24, 2023 at 6:00 AM PDT·3 min read
Across the country, America’s super-rich have reduced their exposure to the stock market by the most dramatic margin in years, according to recent data from the Capgemini Research Institute.
High net worth individuals — defined by Capgemini as those with $1 million or more in investable assets — held over 34% of their portfolios in cash as of January 2023. That’s the highest level since at least 2002. It’s also significantly higher than the 24% cash exposure these investors had last year.
Ultra-high net worth individuals and billionaires seem to be following a similar pattern. Warren Buffett’s Berkshire Hathaway, for instance, added $2 billion to its cash reserve in the most recent quarter, bringing its cash balance to $130 billion.
By comparison, wealthy investors had just 23% of their net assets in publicly traded stocks. That’s the lowest level of stock exposure in 21 years, according to the report. Rich Americans seem to have given up on the stock market, even as some stocks rebound.
The retreat of the ultra-wealthy from the stock market could offer some early warning for retail investors.
Super-rich are in ‘wealth preservation’ mode
“Wealthy investors are still in wealth preservation mode,” said CNBC Wealth editor Robert Frank in a recent interview dissecting Capgemini’s report. More than two-thirds of investors surveyed said preserving their capital was a top priority right now.
Rampant inflation and rising interest rates have made stocks less attractive. Meanwhile, cash and cash equivalents can generate better-than-anticipated returns. A two-year U.S. government treasury bond offers a yield of 4.59%. That’s the highest interest rates have been on risk-free investments since 2007.
By comparison, the S&P 500 currently offers an earnings yield (inverted price-to-earnings ratio) of 4%.
Given their higher level of volatility and risk, stocks are only an attractive investment if they offer a significantly better return than safer options like U.S. government bonds.
With returns on very low-risk investments so elevated, wealthy investors are probably seeing better alternatives elsewhere.
…
https://finance.yahoo.com/news/super-rich-americans-giving-stock-130000070.html
Private Market
Fundraising Hits the Skids
Secondaries are the only private market category in which fundraising activities have surged above their usual levels.
By Hannah Zhang
May 25, 2023
The fundraising environment continues to deteriorate for managers of private capital funds, including those focused on private equity, venture capital, private debt, real estate, and real assets.
Private capital funds raised a total of $211 billion in the first quarter, down from $293 billion in the first quarter of 2022, according to the latest private capital fundraising report from PitchBook. The number of funds closed decreased to 382 in the first quarter, a significant drop from the 560 observed in the same quarter last year.
“While it’s still early yet, it doesn’t seem risky to predict that 2023 is unlikely to set any private capital fundraising records,” Hilary Wiek, senior strategist at PitchBook, wrote in the report. “2022 was $318.8 billion off the 2021 high, and 2023 is tracking well behind where 2022 was at this time last year, both in terms of the number of funds and the capital amount raised.”
Real assets and funds of funds are having a particularly hard time raising capital from institutional investors. According to the report, real asset funds raised a total of $62.8 billion in the trailing four quarters ending in March — a figure that was down 64 percent from the trailing four quarters ending in March 2022. Funds of funds raised $19.9 billion from April 2022 to March 2023, a 51 percent decrease compared to the April 2021 to March 2022 period.
…
https://www.institutionalinvestor.com/article/b8yvy8sncfqml7/Private-Market-Fundraising-Hits-the-Skids
“Private capital funds raised a total of $211 billion in the first quarter, down from $293 billion in the first quarter of 2022”
1 – 211/293 = 28% year-on-year decline
Funds bet on even deeper US yield curve inversion
By Jamie McGeever
June 20, 20234:30 AM PDTUpdated 5 days ago
ORLANDO, Florida, June 18 (Reuters) – Speculators went into the U.S. Federal Reserve’s policy meeting last week holding their biggest ever net short position in two-year Treasuries futures and betting on a further inversion of the U.S. yield curve.
Whether the Fed hikes interest rates again after its pause this month remains to be seen, but funds’ yield curve trade looks on the money – short-dated yields are surging above 10-year borrowing costs and the gap is approaching historic levels.
The latest Commodity Futures Trading Commission (CFTC) data shows that funds increased their record net short positions in two-year Treasuries futures in the week through June 13 to more than 1 million contracts, and reduced their net short position in the 10-year space for a second week.
A short position is essentially a wager an asset’s price will fall, and a long position a bet it will rise. In bonds, yields rise when prices fall and move lower when prices increase.
Hedge funds and speculators take positions in bonds futures for hedging purposes so the CFTC data is not always a reflection of purely directional bets. But it is often a reasonable proxy and a decent indicator of relative value trades.
Funds expanded their already record net short two-year Treasuries futures position to more than 1 million contracts for the first time. The scale of the move lately is remarkable – the net short position has more than doubled in just two months.
At the same time, funds are scaling back their bearish bets on 10-year bonds. They cut their net short position to 691,853 contracts from 753,301 in the week to June 13, bringing the two-week reduction to nearly 160,000 contracts, the biggest move in over a year.
Notably, funds’ net short two-year Treasuries position now exceeds their net short 10-year Treasuries position by some 354,000 contracts. That’s the biggest gap in two years and among the largest on record.
If this is indeed hedge funds betting on an inverted 2s/10s yield curve, they are sitting pretty. The curve, which has been inverted for almost a year, is now inverted by around 95 basis points – that’s doubled in a month and within sight of the 110-bps inversion before the U.S. banking shock in March.
That was the deepest inversion since 1981 and is proving to be a head-scratcher for investors.
…
https://www.reuters.com/markets/rates-bonds/funds-bet-even-deeper-us-yield-curve-inversion-2023-06-19/
Interesting quote:
“Military defeats, like financial crises, come slowly and then all at once.”
https://nypost.com/2023/06/24/wagner-groups-coup-was-short-lived-but-the-end-is-near-for-putin/
And now we know the rest of the story: the precise moment when Pregozhin knew the tide had turned irrevocably against him.
https://twitter.com/hkuppy/status/1672749947366567936?
Lucky for Cramer, he gets paid to entertain, not for making accurate predictions.
https://americasbestpics.com/picture/were-glad-you-re-home-the-russians-took-a-shit-mdWX9HgO9
Biden says ‘Putin’s tax on both food and gas’ is to blame for record-high inflation
Published June 10, 2022
“Today I’d like to speak about my top economic priority, fighting inflation,” Biden said. “I understand Americans are anxious and they’re anxious.”
“We’ve never seen anything like Putin’s tax on both food and gas,” Biden said.
Biden says
This guy sh!ts a diaper. That’s it.
A reader sent these in:
lol lol and lol UK 🤡
https://twitter.com/INArteCarloDoss/status/1672298119462043665
Interesting charts from @wsj on the record fall in existing home prices. May 2023 saw the biggest drop since 2011 – except this time the drop is part of a much larger & longer consecutive chain of monthly price drops.
https://twitter.com/CT_Osprey/status/1672281155075289088
OUCH! German house prices fall by record 6.8% in Q1 2023 YoY as higher mortgage costs deter buyers. The German housing market has gone from being a seller’s market to a buyer’s market, and transactions have almost come to a standstill.
https://twitter.com/Schuldensuehner/status/1672243754667745289
So far this week:
1) TD Ameritrade document storage facility burns to the ground, destroying all evidence for DoJ investigation
2) J.P. Morgan deletes 47 million emails by “accident”
3) Biden delays sub implosion news from Sunday until whistle blower documents released today
https://twitter.com/FinanceLancelot/status/1672046180581138435
Yield curves around the world are inverting the most in decades. German 2-year yields are the highest versus 10-year rates since 1992.
https://twitter.com/lisaabramowicz1/status/1672165524006895618
Until recently the rally in highly speculative assets excluded #Bitcoin. Now that Bitcoin has finally joined the party, perhaps it’s a sign that the party will soon end. Usually rallies end when the lowest quality stuff finally participates. There’s no lower quality than #crypto.
https://twitter.com/PeterSchiff/status/1672276869981274112
BoJ has completely lost their minds
https://twitter.com/PauloMacro/status/1672070555279794176
There are early signs of investors fleeing from tech stocks: BofA’s Michael Hartnett. The tech sector saw $2 billion outflows, the largest in 10 weeks, in the five trading days through June 21: BofA, EPFR data
https://twitter.com/lisaabramowicz1/status/1672212257936211971
Inflation Shocker in the UK: Core CPI Spikes to 30-Year High, Driven by Spike in Services ⚠️⚠️⚠️
https://twitter.com/WallStreetSilv/status/1671854846771707905
The World’s Empty Office Buildings Have Become a Debt Time Bomb
https://twitter.com/judahrhodie/status/1672204739000569856
I was thinking monetary policy would be more effective in countries with shorter dated mortgage rates, but both in Canada and the UK the movement is to extend your amortization period so your monthly payment doesn’t go up much. Makes CB’s job tougher, of course.
https://twitter.com/FedGuy12/status/1672283303553138688
800K Mortgage on a 1M house with a 200K downpayment with a 30 yr amortization. Monthly payment close to 6K. Within 5 years mortgage interest is 250K with 50K going to principal. Welcome to the Canadian f*ckery. 🇨🇦
https://twitter.com/ManyBeenRinsed/status/1672208323620339714
In Canada the average home price is $750k, and you need an income of $180k to qualify. That’s the top 10% of earners in the country can afford the average house 🚨🚨🚨
https://twitter.com/WallStreetSilv/status/1672724066178940928
“My Heat and Hydro Now Cost Me More Than My Mortgage, I Work 15 Hours A Day Just So I Don’t Lose My Home” – Angry Canadian Confronts Justin Trudeau 🚨🚨🚨
https://twitter.com/WallStreetSilv/status/1672643724336148489
While headline CPI is coming down along with commodities, the core PCE, which the Fed uses, remains high. Here we see the core PCE with the Fed balance sheet. The Fed itself is STILL the primary source of inflation ⚠️⚠️⚠️
https://twitter.com/WallStreetSilv/status/1672554409425862657
BREAKING: One of the biggest banks in Australia, Westpac, restricts customers to $667 cash withdrawal limit.
https://twitter.com/WhaleChart/status/1672763033095995392
In addition, the bank is setting a maximum amount that people can spend using their debit card. That amount will be fixed at $8,000 AUD per day
https://twitter.com/WhaleChart/status/1672763210779197440
So a record # of AirBnBs in Phoenix is leading to a collapse in revenue of 50%, while long term rental vacancy rates are at a 7yr high, with rents falling, while prices are falling after a speculative mania bubble where building was the highest in history. That should end well
https://twitter.com/GRomePow/status/1672721589304197120
I’m seeing rent zestimates drop fast in PHX & ATX. Some houses are dropping 10% MoM. What’s going to stop that slide? 🤷♂️
https://twitter.com/damonpace/status/1672768883143368704
Until recently the rally in highly speculative assets excluded #Bitcoin. Now that Bitcoin has finally joined the party, perhaps it’s a sign that the party will soon end.
We’ve been hearing about this “party ending” for years now, and yet here’s BitCON back up above $30k again. They printed way too much. All that money is still out there.
“My Heat and Hydro Now Cost Me More Than My Mortgage, I Work 15 Hours A Day Just So I Don’t Lose My Home” – Angry Canadian Confronts Justin Trudeau
Until one of these globalist stooges loses their heads, it seems they will just keep on pushing the misery index higher.
“If you add what’s happening in our downtown in terms of homelessness and crime and other concerns, the downtown market is going to shift.’”
Ah man, I hate it when my fat fingers add an unwanted letter. Like the “f” in that last word.
whew he waited until she was gone…
Tina Turner’s Son Ike Jr. Arrested on Charges of Crack Possession: ‘He Tried to Eat the Drugs’
https://www.yahoo.com/entertainment/tina-turners-son-ike-jr-171650281.html
oops she knew was arrested Saturday, May 6, i guess dont assume it happened today
Does anyone know of a reliable source to read up on blood transfusions and the medical implications of transference of the Covid vaccines?
My wife may require some during chemo and I can’t find anything online that doesn’t use the words “misinformation or conspiracy”!
Personally, I’d have pureblood family members donate in advance. The blood supply is already contaminated.
I’ll get reamed for this, but what about people who have already had natural COVID? Are they contaminated with spike protein? (especially those who had wild-type or Alpha COVID, which the variant the vax was designed for)
Natural COVID exposure is via the respiratory system. You systemically injected genetic blueprints for the spike protein. I posted videos of Dr. Cole explaining this LONG ago. Catch up or shut up about this topic.
You are unbelievably dense and/or stupid.
You are unbelievably dense and/or stupid.
C’mon now, personal attacks are unbecoming
C’mon now, personal attacks are unbecoming
That’s her entire schtick. She’s one nasty, nasty broad.
Dr. Ryan Cole on whether the blood supply is safe: “We don’t know”
The parents of Baby Will are right to insist on unvaccinated blood. The safety of the blood supply is unknown. We have a medical community which is not trustable on anything vax related.
Thank you Ma’am. Only family not swallowing the vax hoax are 2 of 7 siblings and us. Will look into your advice after some additional research. 😉
Lost my mom to colon cancer, aunt to lung cancer and BIL to kidney cancer. Step-mom had breast cancer, cousin’s husband had testicular cancer, another cousin’s wife had Non-Hodgkin’s lymphoma. Cancer sucks! Anything to help.
My 30 cubic yard rolloff dumpster was delivered at 10am Friday and just 48 hours later it is FULL.
I’ve been working alone all weekend, no help, and my back sure is feeling it.
Be careful out there! Do you have any friends that can help you? Or at least stand by to call 911 if you hurt yourself?
Everybody says they want to “help” until they punch the address into Google Maps and see how far away this is. The majority of what’s inside is garbage and yard waste, not construction debris:
https://ibb.co/r42mBX1
https://ibb.co/F0JJbrW
It’s an amazing well earned feeling when you go to bed after working as hard as you can all day and maybe even a little harder.
Enjoy your well earned sleep.
With Wagner “Coup” Leaving Russia (Exclusive Prigozhin) Special Report
Patrick Lancaster
Jun 25, 2023
Go with the Russian Private military company Wagner as they leave Rostov after they spent a day controlling part of this Russian city.
Who Was With Wagner when leaving Rostov? The people of Rostov were with them. Prigozhin (the leader of Wagner) was with them and I was with them to show the world the facts on the ground that the Western main stream media will not. I even was able to speak to Prigozhin about the day’s events and got an exclusive comment.
My name is Patrick Lancaster and I think you deserve more then what the Western main stream media is willing to show you. I think you need to see information for both sides of the contact line.
Why does the Western mainstream media think the world does not deserve to see reports from both sides of the Ukraine War frontline? Why do they only show you(almost all the time) things that are positive for Ukraine? Why when any English Speaking journalists try and show things in Russian-controlled territory they are attacked and attempted to be smeared by the Western MSM? Think about it!!
I believe You deserve MORE and I will make sure you continue to get it here on this channel!!
We can not cover every story from every place but we can do our best & of course, always bring you reports with full Eng & Rus translations.
https://www.youtube.com/watch?v=7qvFQJEyjwA
15 minutes.
Peter Zeihan sucks at American domestic politics, but he knows something about Wager.
Zeihan has been on Twitter and YT with an interesting take on the Wagner failed coup. Russia uses Wagner in its foreign missions (Syria, Libya, Sudan, Central Africa). But now that Wagner has changed sides, all those Wagner-staffed foreign bases are going to disintegrate.
https://www.youtube.com/watch?v=Tr-zidVQckI&ab_channel=ZeihanonGeopolitics
Funny, I see people on Twitter mocking Zeihan and calling him a grifter. I have no clue who he is or care to.
I see equal numbers of people praising him to the skies and buying his books. I do find it instructive that the mockery comments are eerily similar, falling into two camps: (1) “Never has a man been so confident and so wrong.” (2) “He’s CIA/on the CIA payroll.” Almost as if his detractors were given some kind of a script to post from. But yeah, he IS on the CIA payroll, in a consulting capacity. But I don’t believe he’s secret CIA carrying out missions, not even disinformation. Of course you are free to make your own decisions.
Robert Barnes had an interesting take on Wagner. Streaming on Rumble.
Different take.
Russian COUP Attempt Was a Failed USA Operation That Only Made Putin Stronger — Report
Failed insurrection that ended with Wagner Group leader’s exile in Belarus comes days after Pentagon reported $6.2 billion disappearing in ‘accounting error.’
By Mike Adams | Health Ranger Report Sunday, June 25, 2023
Mike Adams breaks down how the failed Russian coup by the Wagner Group was actually led by U.S. intelligence in a bid to oust President Vladimir Putin as the West’s Ukraine prospects continue to dwindle.
https://www.newswars.com/russian-coup-attempt-was-a-failed-usa-operation-that-only-made-putin-stronger-report/
Propaganda efforts aside, can Russia actually defeat Ukraine without the Wagner group’s support?
I guess we’ll someday find out.
Wagner is a small part of the Russian army. Wagner group is still under Russian command with the boss headed to cool his heels in Belarus.
“…to cool his heels in Belarus.”
And a double-tap to the head is next.
MONDAY, JUN 26, 2023 – 05:44 AM
US intelligence officials knew well in advance that Wagner head Yevgeny Prigozhin was planning to mount an armed rebellion against the Russian military’s top commanders.
Congressional leaders were even briefed days prior to Saturday’s events, after US intelligence reportedly observed the mercenary firm mustering forces and amassing weapons in preparation for possibly making a move against the defense ministry.
The Times explains the rationale of its intel sources as follows:
U.S. officials felt that if they said anything, Mr. Putin could accuse them of orchestrating a coup. And they clearly had little interest in helping Mr. Putin avoid a major, embarrassing fracturing of his support.
While it is not clear exactly when the United States first learned of the plot, intelligence officials conducted briefings on Wednesday with administration and defense officials. On Thursday, as additional confirmation of the plot came in, intelligence officials informed a narrow group of congressional leaders, according to officials familiar with the briefings who spoke on condition of anonymity because they were not authorized to speak publicly.
https://www.zerohedge.com/geopolitical/us-intelligence-knew-days-advance-wagner-rebellion-briefed-congress
I know this will interest some of you. Via ZH (no link), From Merck To Microsoft: These Are The Companies That BlackRock ‘Controls’ The Most Of.
Booker T. & The MG’s – Time Is Tight (Live, 1970)
Feb 2, 2011
Booker T. & The MG’s opened this Creedence Clearwater Revival concert at the Oakland Coliseum, 1/31/70. Seen offstage are John Fogerty, Doug Clifford (w/beard), and Stu Cook (w/glasses).
https://www.youtube.com/watch?v=nbBcXvKvB08
5:27.
Well, whad’you know…even the relitters now admit the housing market is on the fast train to Schlongville.
I don’t often even pull up listings but I took a gander today. Pretty much everything is listed at peak pricing. It gives the illusion that the bubble is at the peak, still raging. 15x median income type stuff.
A lot of pretend sellers riding the market down. Who lists a house for sale for an entire year? I am seeing listings from last summer still riding the mls.
I pulled listings today too, and to my shock, houses around me were pending or even sold at near-peak pricing, in the last 90 days. Either Zillow is playing games, or I’m missing something.
Some weird stuff is going on. There was a 2 year old house in a new community where DR Horton is still building that came on late last summer and never sold. It went through the winter unsold after a couple price reductions, de-listed, then re-listed at one of the higher prices, then sold? I am wondering if the builder was involved to try to prop up prices or something. It does NOT pass the sniff test.
It’s the fed’s rate hike pause, inflation has been contained. Go shopping, buy something, take the family on a vacation, etc. 🙂
I saw a listing almost 6 months old then the seller increased the price 15%. The realtor said there were no improvements. He was adjusting to market conditions. This was on the TX coast. Insanity still reigns.
Just remember, those listings show what prices the owners are asking for homes that didn’t sell yet. They are thus an upwardly-biased representation of market values and eventual sale prices.
I’m seeing inventory increase. Last week I got an email from Realtor.com showing 6 open houses for my narrow search criteria.
DOW 30 -0.65%
S&P 500 -0.77%
NASDAQ 100 -1.00%
Rattled housing market prompts reversal on 2023 forecasts with home prices and rents now expected to fall
Filip De Mott
Jun 25, 2023, 5:15 AM PDT
– Realtor.com has re-examined its prior housing predictions, and now expects a dip in prices and rents.
– But downgrading the 2023 outlook does not signal a major wave of relief.
– “Home costs are still going to be higher for buyers in 2023 because home price declines are very mild and not universal.”
Realtor.com has re-examined its previous housing market predictions for this year and pointed them in the opposite direction.
The real-estate company now expects average home list prices to drop 0.6% from last year, compared to its prior prediction of a 5.4% year-over-year rise in 2023.
Similarly, Realtor.com now predicts a 0.9% dip in rents this year, given a growing supply of rental properties, reversing its earlier forecast for a 6.3% rise.
To be sure, its initial outlook largely went against the grain of what other analysts were saying would happen, and Chief Economist Danielle Hale seemed to acknowledge that.
…
https://markets.businessinsider.com/news/stocks/housing-market-forecast-home-prices-sales-rent-inventory-mortgage-rate-2023-6
Are homebuilders really the lucky winners in today’s housing market?
I’d wait until the widely-heralded recession plays out. I remember them crying into their beers in the 2007-2012 housing market swoon. Maybe this time is different?
Yahoo
Yahoo Finance
There’s a clear winner in today’s housing market. Hint: it’s not the buyer.
Dani Romero, Gabriella Cruz-Martinez and Janna Herron
Sat, June 24, 2023 at 8:08 AM PDT·4 min read
A fistful of housing data this week essentially declared who is winning in the current housing market.
It’s certainly not homebuyers, who are picking through too-few choices to buy at still-high prices and elevated mortgage rates. It’s not sellers, many of whom are not even in the game. Those who are aren’t ahead, either, because they’ll eventually become buyers.
The winner — or winners? The homebuilders.
An imbalance in supply and demand — brought on by the down-then-up path mortgage rates took since the start of the pandemic — has been a boon to builders.
And they know it, too.
Confidence among builders finally pushed into positive territory this month, the first time in 11 months, according to the National Association of Home Builders. Expectations for current sales, and sales six months down the line, were also cheery.
…
https://finance.yahoo.com/news/theres-a-clear-winner-in-todays-housing-market-hint-its-not-the-buyer-150858709.html
This Time Isn’t Any Different: Recession Might Be Delayed but Remains Inevitable
Lance Roberts | Jun 23, 2023 11:00AM ET
“Signs” was a song by the Five Man Electrical Band in 1970 about the hippie movement. The song came to mind as I was looking at the economic data recently. There are “Signs, Signs, Everywhere A Sign” of a recession, but no recession yet.
For example, as of the end of May, 100% of the 10 economically sensitive yield curves we track are inverted. Historically, such a steep and consistent inversion of various yield curves has always preceded recessionary outcomes.
…
https://m.investing.com/analysis/this-time-isnt-any-different-recession-might-be-delayed-but-remains-inevitable-200639334
Hot dang! Last week, two suburban Chicago buildings mentioned I could see from my suburban office, and today, 150 N Michigan in downtown Chicago. I used to work in that building up until the pandemic! I moved from there to the suburbs when they shut down downtown Chicago in 2020. The 150 N Michigan building is the iconic building with the diamond top, the smurfitt-stone building (now since renamed) forever memorialized in the movie ‘Adventures in Babysitting’ where they scaled the top of the building. That was a nice building, great staff, coffee bar on the ground floor, great location across from Millenium Park, but the bucket boys often set up camp about 1/2 away and the constant drumming during working hours was quite tiresome. So glad I don’t ever visit downtown Chicago. I don’t know anyone who wants to visit Chicago. I live next to Chicago now and everyone I know says they avoid Chicago entirely, just has this conversation with a neighborhood mom yesterday about this.
Immortalized not memorializes, you know what I meant !
Immortalize = forever memorialize?
How about made famous? Typing on my phone at 11 pm, not always the mostest articulate!
bucket boys often set up camp about 1/2 away and the constant drumming during working hours was quite tiresome
I had an annoying Bowling Green pan flute player outside my One Broadway second-story office window.
I had an annoying Bowling Green pan flute player outside my One Broadway second-story office window.
The cultural vibrancy didn’t synergize to help your productivity soar?
I’m not sure cultural vibrancy was a thing 23 years ago.
https://www.wbez.org/stories/signs-urging-residents-to-call-the-police-on-chicagos-bucket-boys-spark-outrage/928d68bc-bddd-47d2-8033-1bc096150d04
Signs Urging Residents To Call The Police On Chicago’s Bucket Boys Spark Outrage
Natalie Moore
5–6 minutes
WBEZ brings you fact-based news and information. Sign up for our newsletters to stay up to date on the stories that matter.
It started with Twitter.
Writer and teacher Aurelius Raines casually scrolled his feed and saw a picture of a flyer taped to a lamp post in Chicago’s Streeterville neighborhood.
It said: “Do you dislike hearing ‘bucket banger’ noise in your home? Help your neighbors. Call 911 and report.”
If y’all see these take them down…tryna call cpd on the youth pic.twitter.com/E7ROintizT
— Doctor of Streetwear ⵣ (@__YanYe__) January 22, 2021
His friend poet Tara Betts saw it, too, and responded.
“I was really surprised how many people responded to the singular tweet of saying we should tear them down. And then I started texting Aurelius — did you see this?” Betts said.
“Bucket bangers” pejoratively refers to bucket boys in Chicago. These street musicians are a local institution who use drumsticks to play on 5-gallon buckets for tips. The bucket boys originated from the Robert Taylor Homes, a demolished public housing development, back in the 1990s. They can be seen at intersections along the Dan Ryan, near the Art Institute and numerous other spots around Chicago, a continual new generation of youth bringing vibrancy to a big city. But the young Black male musicians sometimes face opposition to their music from downtown residents.
Raines ended up going by himself to Streeterville last weekend, and he didn’t see any bucket boys playing. He threw two flyers away and put one in his back pocket. Then Raines recorded himself on the corner of Michigan and Chicago avenues expressing his dismay.
“This is not OK,” Raines said. “This right here is just violence against Black people.”
sign urging residents to call the police on bucket boys
Courtesy of Aurelius Raines II
Yanis Mokraoui, who posted the original tweet seen by Raines and Betts, said he’s happy to see the responses.
“It really showed me how interconnected we all are regardless of the side of the city we reside in. Chicago cares about the youth, and we will not allow them to be hurt or criminalized,” Mokraoui said. “These kids are trying to make some pocket money and non-Chicagoans are getting upset it’s loud in the city. The bucket boys are a Chicago staple, and I hope after seeing the support from the city that they beat their drums a little louder.”
Bucket boys are as much a part of the city as the summertime Taste of Chicago. The drummers aren’t formally trained but exude creativity and hustle with their rhythmic flourishes and spinning sticks.
Over the years, downtown buildings have circulated petitions to stop bucket boys from playing. The signs up in Streeterville don’t have a name attached. The area neighborhood association says they don’t know who’s behind them.
“If I got outraged every time white America treated bucket boys like n******, I’d be mad all the time. So I try not to overemotionalize things,” said Merci Carmichael, manager of a group of performers who call themselves Chicago Bucket Boys.
Carmichael said they frequently get the police called on them — even if they have a permit.
“They’re not arrested all the time, but they are fined, given tickets, which is a financial prison within itself,” Carmichael said. “I manage a small group. We travel to Mexico City, Nigeria — every place is fine but here.”
Downtown aldermen have said they field numerous calls from constituents complaining about the constant noise. Ald. Brian Hopkins, 2nd Ward, points to a 2012 city ordinance that bans all street performances on Michigan Avenue between Superior Street and Delaware Place — a strip along the Magnificent Mile where the flyers were posted. Hopkins said it would be within residents’ rights to call the police if that ordinance is violated.
But it’s the decision to call police in response to such non-threatening situations that strikes a chord for many Black folks who view those moments as a reflection of unreasonable fears of Black people. Those situations also carry an ominous tone for Black Americans who know how interactions with police can sometimes end in tragedy.
Betts said the flyers are violent toward young people.
“It speaks to a larger problem on how the city has turned its back on young Black people for a long time,” said Betts, founder of the Whirlwind Center, an arts nonprofit. “It’s tone deaf on policing, racism, arts education.”
She also thinks about how sound is racialized not just here, but around the country. New white neighbors complained about go-go music, a Black art form, played in front of a cellular phone store in Washington, D.C. As Harlem gentrified, complaints ramped up about drummers playing in Marcus Garvey Park on Saturdays.
“We have to think about the why,” Betts said.
The “why” in Chicago is that even after last summer’s racial reckoning of racism and police violence after the murder of George Floyd, someone would post a sign telling people to call the police on a group of Black boys because their drumming is considered a nuisance.
Does it seem like homes in Washington State are headed along the same trajectory the Titan submersible recently followed?
The Columbian
Homeowners in Washington lose more equity than any other state as market cools
By Heidi Groover, The Seattle Times
Published: June 25, 2023, 6:04pm
The cooling housing market is stripping more equity from homeowners in Washington than in any other state in the country.
On average over the last year, Washington homeowners lost about $74,300 in equity, a measure of the difference between how much a home is worth and how much the owner owes on the mortgage, according to the real estate data company CoreLogic. That 18% decline marked the largest drop in the country from the first quarter of last year to the first quarter of 2023.
Even so, only a small share of homeowners here are underwater.
…
https://www.columbian.com/news/2023/jun/25/homeowners-in-washington-lose-more-equity-than-any-other-state-as-market-cools/
“Even though Washington homeowners lost an average of more than $74,000 in equity over the last year, they gained $116,000 as home prices soared the prior year, CoreLogic data shows.”
That’s a huge loss for the recent investor landlords looking to ride the equity wave and gather a few scalps. Add in a couple of 90-day back-to-back evictions with some property damage, and it’s time for some navel gazing.