Sellers Always Think People Will Make An Offer, Well They Don’t Anymore
A report from KTVB. “The median home prices in Ada and Canyon Counties are down almost 11 percent compared to last year. That’s according to the Intermountain MLS. So, I guess it’s time to panic? As fun as that would be, no. Debbie Myers, President of Boise Regional Realtors said, first of all, the market here in Southern Idaho and Eastern Oregon is unique. Those local numbers still don’t look great, but Myers said they shouldn’t. It was time for them to come back down. ‘I think we’re getting into what I would refer to as a more normal market. If you look at growth patterns, and you take out the COVID years, we’re back on track with that normal type of growth,’ Myers said. ‘The COVID years were just so ridiculous, for a lot of reasons.'”
CBS 13 in California. “Sacramento once had one of the hottest real estate markets in the country, but today, people looking to purchase homes are struggling. New numbers show a dramatic decline in the city’s real estate sales. ‘We’re in a situation where we’ve seen almost 5,000 fewer sales happening in the region,’ Ryan Lundquist, a Sacramento-area appraiser and housing analyst. One bright spot is the new homes under construction across the region that help create more options for buyers. ‘Builders are offering incentives, credits to buyers, buying down the mortgage rate to help buyers find more affordability,’ Lundquist said. The median sales price in Sacramento is $530,000 which is 5% lower than last year.”
The Express News in Texas. “During the COVID-19 pandemic, as travelers flocked to Airbnb and Vrbo and a flurry of homeowners rushed to become hosts, Jeremy Rosen and his wife Anna joined the melee as they began renting out a home in downtown San Antonio for short-term stays. Soon, they were managing three more properties for other owners. Now, however, they’re reducing rates and seeing price-conscious travelers wait longer to book their stays as the market is coming back down to earth. Some other short-term rental owners say they are slashing their prices and seeing shorter booking lead times as families haggle over rates and make reservations a few days or weeks out instead of months in advance. Some operators are selling their properties or converting them to long-term rentals as activity reverts to pre-COVID levels.”
“The number of available listings on Airbnb and Vrbo in the San Antonio area surged 84 percent from May 2020 to May 2023. Sakib Shaikh, who owns and manages four short-term rentals in San Antonio, said he’s seen daily posts this year in Facebook groups from operators who report selling their properties and furniture and getting out of the short-term rental industry. They may also be over-leveraged and unable to make mortgage and debt payments with less revenue coming in. ‘It’s not as easy as they thought it was going to be,’ Shaikh said. ‘Every house is not a gold mine.'”
The Hartford Courant in Connecticut. “Frustrated by unpaid tax bills and growing complaints from property owners, Simsbury officials are considering a tax foreclosure against the Cambridge Crossing condominium complex. Several buyers waiting to close their purchases, though, asked the town to hold off, saying they fear the possibility of losing homes they’ve already invested in heavily. The project was never finished. Now, court files and municipal records show a mounting volume of liens and lawsuits claiming the company isn’t paying its bills. At issue are several properties in Simsbury, Avon and Burlington, but it’s the Cambridge Crossing project in northern Simsbury that’s currently drawing the most attention.”
“A resident who identified himself to selectmen only as John said he lives at Cambridge Crossing and is worried the people who’ve already put substantial money into their properties could be hurt by a tax foreclosure against the developer. ‘I’d encourage you to look at the numerous lawsuits against our developer, they’re in the dozens now,’ he said. ‘A lot of people have been taken advantage of. There are people from what I understand who are putting down deposits and they’re not getting houses built. Some people are renting because they can’t close due to the liens.'”
The Star Advertiser. “Hawaii bankruptcies continue to remain historically low, but local attorneys say the number of monthly filings belie the reality that many consumers are in financial straits. Honolulu bankruptcy attorney Blake Goodman predicts the numbers will ‘spike high’ but haven’t done so already because of low unemployment and creditor collection activity that is just ramping up to pre-pandemic levels.”
“‘The interest changes themselves are forcing debtors into my office, because their credit card payments have doubled since the beginning of this year,’ he said. ‘Also, we are finally seeing home foreclosures start up again in Hawaii after a few years’ hiatus. The huge delinquencies after the pandemic on mortgages is forcing creditors to send homeowners to court to decide the fate of their house. Informal workouts, negotiations and loan modifications are no longer as available. Bankruptcy is, of course, the fastest, simplest, most inexpensive way to fight back against the foreclosure and save your property.'”
The Real Deal on Illinois. “David and Susan Kalt initially sought to make $800,000 off their $13 million investment into 595 Longwood Avenue in Glencoe, a mansion along Lake Michigan’s shoreline that was listed for nearly $14 million last year. When the couple didn’t draw any takers for the seven-bedroom, seven-bathroom layout across 8,700 square feet, they hired a new agent. They also lowered their asking price to $11.9 million, resigning themselves to a self-estimated loss of around $1 million on the manse they purchased in 2005 for $6 million and gave an extensive renovation.”
“Now, they’re set to lose a lot more than $1 million. After an offer that followed the initial reduction fell through, the Kalts and their agent, Laura Rubin Dresner of Baird & Warner, sliced the asking price another 19 percent yet again on Monday to $9.7 million. The overall 30 percent cut is among a wave of big-ticket price cuts hitting luxe North Shore pads both on and off the lakefront as Chicagoland’s high-end housing market — defined as properties of $4 million or more — shifts back from a sprint to the light jog. ‘The smart sellers change with the market,’ Rubin Dresner said of the Glencoe cut. ‘We want to be just under where the market is.'”
“To the south in Kenilworth, another mansion that started testing the market last year at $14 million had its ask chopped down to $9 million this week. And further north in Lake Forest, off the lakefront at 255 North Green Bay Road, the son-in-law of late former owners Roland and Arlene Casati recently agreed to a second price reduction to $7.9 million for the 1930s-built seven-bedroom, 11-bathroom design across 15,000 square feet. The offering is now down by about $2.2 million, or 20 percent from where it started at more than $10 million. ‘Sellers always think, ‘Well, people will make an offer.’ Well, they don’t anymore,’ the Kenilworth property’s listing agent, Nancy Nugent of Jameson Sotheby’s International Realty, told The Real Deal.”
The Globe and Mail. “Canada’s bank regulator, the Office of the Superintendent of Financial Institutions, is considering changes that it says would help banks and mortgage insurers deal with the risks posed by mortgage borrowers who are under financial stress as a result of higher interest rates. A proposal unveiled late Tuesday afternoon by OSFI would require banks to hold more capital if their borrowers’ mortgages are negatively amortizing, meaning the borrowers’ payments are not covering all the interest they owe.”
“The proposal, which OSFI published for consultation, would also require mortgage insurers to beef up their capital when borrowers’ outstanding loans are underwater, a term for when a mortgage is worth more than the value of the underlying property. Variable-rate borrowers with fixed monthly payments – whose amortization periods automatically extend when interest rates rise, in order to keep their monthly payments stable – have seen the lengths of their loans soar above 30 years. More than one-quarter of their residential loan books consisted of mortgages with amortization periods longer than 30 years at the end of April, according to regulatory filings. That share is more than double the rate in April last year.”
“The requirement related to negative amortizations would apply in cases where borrowers owe their lenders more than 65 per cent of the assessed values of their properties.”
Estate Agent Today in the UK. “A second quarter market report from Spectre shows a 49% increase in price reductions compared with the five year average for this time of year and a 16% quarterly rise. Spectre highlighted that 24% of reductions so far this year have had more than one price drop, which it attributed to the knock-on effects of overpricing are still impacting a seller’s ability to find a suitable buyer. Heather Staff, co-founder at Spectre, said: ‘Last year saw more competition between buyers, with over-inflated prices and high demand leading to rushed or over-budget offers – which eventually converted into buyer regret and rejected mortgage applications.'”
The Age in Australia. “Anxious apartment owners fearing they will be left destitute by the possible collapse of embattled construction company Toplace are expected to know whether it will survive by next week after it was placed into the hands of administrators. The construction arm of the Toplace empire went into voluntary administration on Friday, a day after its besieged director and founder Jean Nassif was banned from operating in NSW while a review decides his future. Nassif, 55, has been on the run overseas after NSW Police issued a warrant for his arrest over an alleged large-scale fraud for which his daughter, Ashlyn, has been charged.”
“The latest development plunges thousands of apartment owners across Sydney into uncertainty with a number of Toplace projects still under construction, and a series of ongoing court battles over alleged serious defects in towers that have already been built. Margaret Wong, who bought an apartment in Vicinity off the plan as an investment, was distraught to hear Toplace had gone into administration. ‘You might expect something like this to happen in a Third World country but not Australia, said Wong, 45, a lawyer. ‘Now I am so, so stressed and so worried that the building might collapse and hurt my tenants, and I’m going to have to go back to work overseas to make more money to help pay for all this trouble.'”
“‘It’s so unbelievably, ridiculously stressful,’ said Jenna Jones, an owner raising her young family in the Vicinity building. ‘If Toplace goes under and the building is worth nothing, how are we going to get out of this? We don’t have any other savings, and we’ll be destitute.'”
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Here is the latest news…https://fortune.com/2023/07/12/housing-market-not-bottomed-home-prices-to-fall-says-pantheon-macroeconomics/amp/
‘The smart sellers change with the market…We want to be just under where the market is’
So yer just giving it away Rubin?
Mr Banker is eyeing those ruby slippers when you fall “under the market”.
Chicagos north shore suburbs are arguably some of the nicest looking suburbs in America. Reasonably priced too if you get a little away from the lake. But the catch to living in a beautiful luxury upscale suburb is that nearly everyone votes hard core democrat. It’s like D+40 to D+70 in those areas. That’s almost like living in the bluest parts of Chicago. Conservatives are not well regarded and you won’t be invited to the neighborhood parties. Ukraine flags and hate lives here signs everywhere. It didn’t used to be like this either. They used to vote republican until about 15 years ago and then quickly went full blown shitlib. It’s so shitlib that pre-pandemic they have trouble filling kindergarten classes, the town are filled with childless liberals in massive homes. I have no sympathy for anyone who loses money selling there. They deserve it.
‘The COVID years were just so ridiculous, for a lot of reasons.’”
Don’t buy into this ridiculous pandemic housing bubble juiced by $4 trillion in Fed stimulus, said no realtor ever.
“The COVID years were just so ridiculous”
Greatest FRAUD of my lifetime. And with the alleged “vaccine” mandates, a medical genocide.
A medical genocide, did you say?
Why, yes, a medical genocide.
Threatening people to get them FIRED FROM THEIR JOB for not getting injected with an experimental mRNA poison, that sure sounds like a medical genocide.
Deep State Marxist globalists poisoned you so that Pfizer and Moderna could pocket a few billion more shekels (from taxpayers) and all you got was a destroyed immune system and inevitable turbo cancer.
They poisoned you, and you’re probably going to die.
#Misinformation
#YoelRoth
Here’s some more COVID fun: last weekend, I was in the health/beauty section of Walmart. I was so surprised at one of the bottles that I took a picture of it. Here is the print on the box:
———–
equate [the wal-mart house brand]
Original prescription strength
IVERMECTIN
Lotion 0.5%
Lice Treatment
Now available without a prescription
One tube, one time, 10 minutes
No rit combing required
No second application required
Includes 1 tube 4 ounces (117g)
—————
What happened to muh horse dewormer?? And why make this OTC now (one guess)
They did this just to make you know who look bad.
How much was it? and what was the percentage of Ivermectin in it?
cuz you can buy horse paste (the paste version rather than the oral solution) of 1.87% Ivermectin for about 7 bucks. (12oz) at any farm supply store.
I’m not a doctor, so this is not medical advice.
My guess is that Oxide’s product described is a lotion for topical (external) use only. You would not want to ingest that.
Horse paste is fit for animal (various kinds) consumption.
I just order my Vitamin-I from India.
‘You might expect something like this to happen in a Third World country but not Australia’
Aus-ia is a third world country Maggie.
‘It’s so unbelievably, ridiculously stressful…If Toplace goes under and the building is worth nothing, how are we going to get out of this? We don’t have any other savings, and we’ll be destitute’
Well, it was cheaper than renting Jenna.
“Last week the NSW Building Commissioner issued urgent rectification orders for Toplace’s Vicinity building at Canterbury, warning inadequate beams and support columns could result in the “inability to inhabit” the building or its destruction or collapse.”
Other than that how do you like view, Jenna?
They may also be over-leveraged and unable to make mortgage and debt payments with less revenue coming in. ‘It’s not as easy as they thought it was going to be,’ Shaikh said. ‘Every house is not a gold mine.’”
Die, speculator scum.
‘The requirement related to negative amortizations would apply in cases where borrowers owe their lenders more than 65 per cent of the assessed values of their properties’
Now that’s some sound lending!
‘he’s seen daily posts this year in Facebook groups from operators who report selling their properties and furniture and getting out of the short-term rental industry. They may also be over-leveraged and unable to make mortgage and debt payments with less revenue coming in. ‘It’s not as easy as they thought it was going to be…Every house is not a gold mine’
Sakib is a well known stopped clock, Putin puppet, anti death injection, perma bear election denying conspiracy theorist doom and gloomer.
Don’t forget “raciss.”
“The median home prices in Ada and Canyon Counties are down almost 11 percent compared to last year. That’s according to the Intermountain MLS.
CR8R.
“So, I guess it’s time to panic? As fun as that would be, no. Debbie Myers, President of Boise Regional Realtors said, first of all, the market here in Southern Idaho and Eastern Oregon is unique.”
It’s not different in Boise. Same CR8R as in SoCal, and probably even the same group of investors.
The Idaho housing market is going to get an extra large Joshua tree up the tailpipe, no lube.
They all think they’re special. They also think its gonna be different this time. Go ahead Debbie show us your knife catching skills. I’m sure you’ll be insisting its just a flesh wound as you bleed out.
As for Jenna Jones and the “we’ll be destitute” crowd. Hard times create strong women, Jenna.
It’s looking doubtful for those counting on high inflation to make their recent gambles on crypto, meme stocks and real estate pan out.
Yahoo Finance
Inflation: Consumer prices in June rose at slowest annual rate since March 2021
Alexandra Canal
Wed, July 12, 2023 at 5:31 AM PDT·3 min read
Consumer prices rose at the slowest pace since March 2021 as inflation showed further signs of cooling in June, according to the latest data from the Bureau of Labor Statistics released Wednesday morning.
The Consumer Price Index (CPI) rose 0.2% over last month and 3% over the prior year in June, a slight acceleration from May’s 0.1% month-over-month increase but a slowdown compared to the month’s 4% annual gain.
Both measures were slightly better than economist forecasts of a 0.3% month-over-month increase and a 3.1% annual increase, according to data from Bloomberg.
…
https://finance.yahoo.com/news/june-cpi-inflation-data-july-13-2023-123148137.html
Both measures were slightly better
Only up 1,200% in my lifetime!
Of course the standard response are that these numbers are bogus. Food and car prices have moderated as have totally overpriced homes, and cheap led tvs, but seems like every other category is up significantly.
Financial Times
Chinese economy
China on brink of consumer deflation
Latest signs of economic weakness likely to spur calls for government stimulus measures
Shoppers at a supermarket in Beijing
The consumer price index was flat year on year and declined 0.2% compared with the previous month, while factory gate prices fell at the fastest pace since 2016
Joe Leahy in Beijing and Greg McMillan in Hong Kong July 10 2023
China’s economy teetered on the brink of deflation in June, adding to calls for Beijing to launch a stronger stimulus package to sustain the country’s sputtering post-Covid recovery.
The consumer price index was flat year on year and declined 0.2 per cent compared with the previous month, while factory gate prices fell at the fastest pace since 2016 as demand for consumer and manufactured products softened.
Analysts expected the figures to lead China’s central bank, the People’s Bank of China, to reduce interest rates again, adding to a round of cuts last month that many believe Beijing will have to supplement with fiscal stimulus policies.
…
Axios Homepage
Jul 11, 2023 – Economy & Business
China’s economic woes may help lower U.S. inflation
Matt Phillips, author of Axios Markets
Illustration of the flag of China as a chart with the stars creating a ripple effect
Illustration: Sarah Grillo/Axios
China’s economic pain may be the Fed’s gain.
Why it matters: The country’s economic slog could indirectly help the U.S. bring inflation down.
The big picture: The People’s Republic, the world’s second-largest economy, continues to struggle to shake off COVID-induced woes, leaving it tottering on the brink of deflation — or falling prices.
The latest: New Chinese price data out Monday was weaker than expected, with the country’s consumer price index dead flat — that’s an annual gain of 0% — over the last year.
Producer prices — prices at the factory gate, which are typically seen as a leading indicator of consumer prices — are deeply negative, falling 5.4% compared with June 2022.
Be smart: Deflation can act as a brake on economic growth, as falling prices push consumers and businesses to delay purchases and investments because they expect things to be cheaper in the future.
If enough people do this at once, you have a major economic downturn.
…
https://www.axios.com/2023/07/11/china-deflation-us-inflation
It’s not just tech. FOMO is in full swing across the stock market, and investors are about to be disappointed.
Matthew Fox
Jul 11, 2023, 10:41 AM PDT
Charging Bull Wall Street kid
Richard Drew/AP
-:The stock market has entered full FOMO territory this year, according to JPMorgan’s Marko Kolanovic.
– And investor enthusiasm is not just concentrated in tech stocks, with broad market valuations appearing stretched.
– “There is complacency being built into stocks with VIX at the lows of its range,” Kolanovic said.
…
https://markets.businessinsider.com/news/stocks/stock-market-outlook-fomo-rally-complacency-sp500-vix-tech-valuations-2023-7
‘A lot of people have been taken advantage of. There are people from what I understand who are putting down deposits and they’re not getting houses built. Some people are renting because they can’t close due to the liens’
Not renting John! Maybe they could buy another non-existent shack. It’s probably got a price cut.
“Now, they’re set to lose a lot more than $1 million. After an offer that followed the initial reduction fell through, the Kalts and their agent, Laura Rubin Dresner of Baird & Warner, sliced the asking price another 19 percent yet again on Monday to $9.7 million.
How’s chasing the market down working out for ya, greedheads?
It’s an unimpressive big house, with a totally gray and white interior, and a massive inground pool in the backyard, usable maybe 3 months of the year. The average last 32 degree night this far north is April 27th. Pool does even get turned on until Memorial Day. Not sure how these people peed away $6,000,000 on renovations.
🔥🔥🔥 Christine Anderson to World Health Organization in EU Parliament “We will bring you down”
https://www.bitchute.com/video/rEh7Aev70XAQ/
1:37.
@RepMalliotakis questions why the “Proximal Origin” co-authors suspiciously abandoned their initial belief that COVID originated in a Chinese lab. Within 3 days of speaking to Dr. Fauci, @K_G_Andersen
shifted his support to a zoonotic origin. Americans deserve to know why👇
https://twitter.com/COVIDSelect/status/1678815299414392838
Why would anyone believe anything these alleged “scientists” say when they are near unanimous in total denial of basic biological reality?
Women have ovaries that create eggs that make babies.
A MAN born with XY chromosomes will never be a woman. Never be a woman. Never be a woman. Never be a woman.
You will never be a woman.
When archaeologists dig up your skeleton 10,000 years from now, they will identify your pelvis bone as MALE.
Too late to the rosy road to riches real estate speculating game? Who would imagine that an 80+ year old wood house in termite infested Florida might have issues?
https://www.zillow.com/homedetails/1423-Wisteria-Ave-Perdido-Key-FL-32507/44675677_zpid/
Price history
Date Event Price
7/10/2023 Listed for sale $175,000
2/13/2023 Sold $155,000
3/4/2022 Sold $125,000
11/14/2000 Sold $75,900
Now the gooberment is saying that inflation is down to 3%. Excuse me if I come across as skeptical.
The New York Times and Washington Post are, as so eloquently stated in Russian state media yesterday, a “stinking landfill of informational garbage.”
Anything they are promoting, its ultimate goal is to push the working class and middle class into poverty, while enriching Marxist globalist billionaires.
Globalist parasites. Like ticks or mosquitoes. No allegiance to any nation (except Israel or Ukraine).
Your existence is only tolerated for you to be a cattle tax slave funding the destruction of the nation your ancestors founded.
#JonathanGreenblatt
#GreatReplacement
the gooberment is saying…
Core Urban Flexible Basket of Goods Annualized Seasonally Adjusted Price Increase anyone? Biden Prosperity!
Jun 2022 was the peak I believe. Makes sense it dropped in June 23 yoy. Next few months will be interesting…think it will pick up again.
They Did It | Bank Of Canada Raises The Rate Again
Angry Mortgage Podcast
Jul 12, 2023
Whoaa man! Bank of Canada Rate goes up again. Join Ron with his thoughts and insights to the recent hike!
https://www.youtube.com/watch?v=AdPW2Ie7LcQ
4:28.
The increases will continue until morale improves, eh.
When Will Mortgage Rates Settle? Market Q&A
OwlMortgage
1.69K subscribers
255 views Jul 12, 2023 #Mortgage #CanadianEconomy #MarketNews
Welcome to Episode 138 of The Wise Old Owl Show’s Q&A section! Here we answer some questions from viewers like you related to finances and real estate.
Question 1: As more inventory comes to the market at a lower price, will bidding continue even with higher rates? (0:08)
Question 2: How can I port a mortgage to a new property? (1:02)
Question 3: Can there still be inflation in a recession? Taking that in mind, will we see higher interest rates? (2:34)
Question 4: Is the bank renewing the static mortgage renewal using the new amortization schedule at 80 years? (3:29)
Question 5: When is this going to settle down? (4:29)
Question 6: Can we get an update on private mortgages as a lender? What are the rates? How’s the risk? (5:37)
https://www.youtube.com/watch?v=jN9qH00p0jY
8:30.
Bank of Canada Raises Interest Rates: ‘Cannot Rule Out’ Further Hikes
Mark Mitchell – Mortgage Broker London Ontario
Jul 12, 2023
The Bank of Canada raised interest rates by 25bps this morning, brining the policy rate up to 5%. The Bank did not rule out further rate hikes going forward, instead saying that it will be focused on consumer spending and the inflation data as it comes out.
Links:
Release of the Monetary Policy Report / Publication du Rapport sur la politique monétaire:
• Release of the Mo…
Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening:
https://www.bankofcanada.ca/2023/01/f…
‘It’s going to get more painful’: Bank of Canada widely expected to raise key interest rate Wednesday:
https://www.thestar.com/business/2023…
Bank of Canada to raise interest rates this week, all 6 big banks say:
https://financialpost.com/news/econom…
Canadian insolvency levels reach new high, according to report:
https://www.mpamag.com/ca/mortgage-in…
Consumer price index portal:
https://www.statcan.gc.ca/en/subjects…
More interest rate hikes ‘cannot be ruled out’: What economists are saying about the Bank of Canada decision:
https://financialpost.com/news/econom…
Bank of Canada plans to keep interest rate near zero until 2023:
https://www.cbc.ca/news/canada/bank-o…
Average Canadian house price rose to $716,000 in April — up by $100K since January:
https://www.cbc.ca/news/business/crea…
Posthaste: Canadians reporting insolvency hits record high just before Bank of Canada expected to hike interest rate:
https://financialpost.com/news/canadi…
Bank of Canada’s fight against inflation is a war on workers:
https://www.thestar.com/business/opin…
How another Bank of Canada interest rate hike could impact your mortgage:
https://www.ctvnews.ca/business/how-a…
As inflation ticks up in Canada, here is how much food prices went up in April:
https://ca.finance.yahoo.com/news/inf…
https://www.youtube.com/watch?v=U8PpUW90-dA
9 minutes.
The solution will be more carbon taxes.
TheScience™
NPR (via the alleged Associated Press) — Scientists say new epoch marked by human impact — the Anthropocene — began in 1950s (7/11/2023):
“From climate change to species loss and pollution, humans have etched their impact on the Earth with such strength and permanence since the middle of the 20th century that a special team of scientists says a new geologic epoch began then.
Called the Anthropocene — and derived from the Greek terms for “human” and “new” — this epoch started sometime between 1950 and 1954, according to the scientists. While there is evidence worldwide that captures the impact of burning fossil fuels, detonating nuclear weapons and dumping fertilizers and plastics on land and in waterways, the scientists are proposing a small but deep lake outside of Toronto, Canada — Crawford Lake — to place a historic marker.”
https://www.npr.org/2023/07/11/1187125012/anthropocene-crawford-lake-canada-beginning
Conveniently located in the same World Economic Forum “penetrated” joke of a country where arson created wildfires were intentionally set this year to accelerate the incoming “climate change” lockdowns.
What did they eat for dinner at the NATO summit in Lithuania? They didn’t eat the bugs or some other processed goyslop. That’s for the little people.
detonating nuclear weapons
When was the last time that was done above ground? 1950?
TheScience™
Science Magazine — Rare link between coronavirus vaccines and Long Covid–like illness starts to gain acceptance (7/3/2023):
“like all vaccines, those targeting the coronavirus can cause side effects in some people, including rare cases of abnormal blood clotting and heart inflammation. Another apparent complication, a debilitating suite of symptoms that resembles Long Covid, has been more elusive, its link to vaccination unclear and its diagnostic features ill-defined. But in recent months, what some call Long Vax has gained wider acceptance among doctors and scientists, and some are now working to better understand and treat its symptoms.
“You see one or two patients and you wonder if it’s a coincidence,” says Anne Louise Oaklander, a neurologist and researcher at Harvard Medical School. “But by the time you’ve seen 10, 20,” she continues, trailing off. “Where there’s smoke, there’s fire.”
https://archive.li/90UA6
Pfizer and Moderna got paid (by U.S. taxpayers).
You got a free donut. And turbo cancer and A.I.D.S. No refunds.
Well d’oh…
Finance Housing
Housing market affordability is so out of whack that ‘the bulk of the drop in home prices is yet to come,’ says Pantheon Macroeconomics
Pantheon Macroeconomics: “We are baffled by the emerging narrative in the commentariat that housing is now recovering, because it isn’t.”
BY Lance Lambert
July 12, 2023 4:23 AM EDT
…
https://fortune.com/2023/07/12/housing-market-not-bottomed-home-prices-to-fall-says-pantheon-macroeconomics/amp/
Huffington Post editorial excerpt (7/12/2023):
“Want a focus on the family? Visit a drag club. Want a good dose of family values — a place where family is made and bedazzled out of whole cloth and valued for that reason? Drag club.
The structure and language of the drag world is all about family: We speak of drag houses and drag mothers and of their children.”
No link provided.
The name of the author of this piece is Paul Festa.
Want a focus on the family? Visit a drag club.
Pure Newspeak. Ingsoc is happening right before our eyes.
Debt is Slavery,
I agree with your posts above 100 %
And ,the fact that they won’t take the killer fake vaccines off market and they want to cram more of that poison down peoples throat, is evidence of a Government willing to commit denocide and injury.
This can’t be explained by harmless mistakes, incompetence, unintended error, or any excuse made by the culprits that did this to populations of the World.
It was pre-planned and deliberate and a criminal act of such vile and sinister nature that the culprits must be arrested and punished by death for first degree murder.
I’m pretty sure whorehouses use similar language….
Prisons too.
‘Now I am so, so stressed and so worried that the building might collapse and hurt my tenants, and I’m going to have to go back to work overseas to make more money to help pay for all this trouble’
Yip yip yip yip yip yip yip yip
Sha na na na, sha na na na na
Sha na na na, sha na na na na
Sha na na na, sha na na na na
Sha na na na, sha na na na na
Yip yip yip yip yip yip yip yip
Mum mum mum mum mum mum
Get a job, sha na na na, sha na na na na
“Are we like…STUPID?!” Rep. Spartz gets FURIOUS with FBI Director Wray
Townhall
Jul 12, 2023
Republican Representative Victoria Spartz didn’t hold ANYTHING back while GRILLING FBI Director Christopher Wray today during the House Judiciary Committee’s hearing on oversight of the FBI.
https://www.youtube.com/watch?v=XatmZiUJM4I
5 minutes.
She’s an interesting person.
Massive Sales Decline For Brampton, Mississauga & Durham Real Estate – July 5
Team Sessa Real Estate
Jul 12, 2023 CANADA
Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of June 29 – July 5, 2023.
https://www.youtube.com/watch?v=iYT0PmakeKQ
16 minutes. Advice for FB’s at the beginning.
Good morning Brampton! Remember the ‘Brampton loan’ talk a year ago?
“16 minutes. Advice for FB’s at the beginning”
The sun comes up in the morning
And it shines that light around
One day, without no warning
You can’t pay the mortgage and your upside down
Short Sales all right with me
Short Sale is the way it should be
Short Sale a good way
To lose that shack when you can’t pay
>>Advice for FB’s at the beginning.
“…if you selling it means you could be selling it at a loss I guarantee you if the lender takes over and sells it on your behalf the loss will be far greater…”
Sounds like Canada’s mortgages have recourse.
Indeed they do.
Ouch.
Starter homes may be a thing of the past — millennial and Gen Z homeowners plan to stay put for nearly 2 decades
Published Wed, Jul 12 2023 9:00 AM EDT
Cheyenne DeVon
For millennial and Gen Z homebuyers, purchasing a starter home may be a thing of the past.
Nearly 40% of Americans between the ages of 25 and 44 who bought homes last year plan to stay in them for 16 years or more, according to data from the National Association of Realtors. For homebuyers between the ages of 18 and 24, that number jumps to 48%.
A starter home is usually the first home a person or family is able to purchase. It tends to be a smaller and less-expensive dwelling the homeowner only lives in for about three to seven years as they save up for their “forever home.”
But the concept of buying an entry-level home that quickly appreciates in value so you can sell it after about five years seems to have gone out the window, Jessica Lautz, NAR deputy chief economist and vice president of research, tells CNBC Make It.
That’s mostly because those who were able to purchase homes last year likely locked in a low mortgage rate, she says.
The average rate for a 30-year fixed mortgage was around 5.7% on June 30, 2022, according to Freddie Mac. As of July 6, 2023, the average rate is about 6.81%.
Many homeowners have even lower rates. Currently, nearly two-thirds of all homeowners have mortgage rates at or below 4%, according to Black Knight, a mortgage software and analytics company.
“Unfortunately, many potential sellers have ghosted the market this spring, concentrating buyer demand on the few listings that do come to market and fueling price growth, especially for more affordable and well-presented houses,” Jeff Tucker, Zillow senior economist, said in a May press release.
…
https://www.cnbc.com/2023/07/12/gen-z-and-millennial-homebuyers-arent-purchasing-starter-homes.html
Makes sense!
Once you have locked into a 3% rate 30-year mortgage to purchase an overpriced home you wouldn’t otherwise have qualified to purchase, how could you ever afford to move to a more expensive home financed with a 7% mortgage.
Today’s National Mortgage Rate Averages
Rates on 30-year fixed-rate mortgages dropped for a third day Tuesday, subtracting another 15 basis points to accumulate a 26-basis-point drop across the three days. Now averaging 7.44%, the decline has reversed most of the 32-basis-point spike the flagship average saw last Thursday, when the average leaped to 7.70% and set what was estimated to be a new 20-year high.
…
https://www.investopedia.com/30-year-mortgage-rates-decline-for-a-third-day-7559630
Why can’t we stop homelessness?
4 reasons why there’s no end in sight
July 12, 2023 9:39 AM ET
Jennifer Ludden – Square
3-Minute Listen
A man carries a sleeping bag at a homeless encampment in Portland, Maine, in May, before city workers arrived to clean the area. State officials say a lack of affordable housing is behind a sharp rise in chronic homelessness.
Robert F. Bukaty/AP
When Los Angeles Mayor Karen Bass campaigned last year on reining in homelessness, she laid out bold proposals with a budget of hundreds of millions of dollars. In April, she told NPR she hoped for a “very significant reduction” this year, especially of people living on the street. But on Monday, Bass said it’s become clear that there’s simply no end in sight.
“We really need to normalize the fact, unfortunately, that we’re living in a crisis,” she said at a press conference announcing a renewal of her emergency declaration on homelessness.
The shift in tone comes after both LA and New York City recently declared a record level of homelessness, and other cities have also seen their numbers continue to climb despite considerable attention and spending to give people shelter. It’s part of a steady rise around the country since 2016, after years of successfully driving down the number of people without housing.
So what’s going on? Advocacy groups and researchers say a big driving force is the decline of affordable housing, a problem decades in the making but one that has grown significantly worse in the past few years.
…
https://www.npr.org/2023/07/12/1186856463/homelessness-rent-affordable-housing-encampments
Why can’t we stop homelessness?
4 reasons why there’s no end in sight
July 12, 2023 9:39 AM ET
Jennifer Ludden – Square
3-Minute Listen
A man carries a sleeping bag at a homeless encampment in Portland, Maine, in May, before city workers arrived to clean the area. State officials say a lack of affordable housing is behind a sharp rise in chronic homelessness.
Robert F. Bukaty/AP
When Los Angeles Mayor Karen Bass campaigned last year on reining in homelessness, she laid out bold proposals with a budget of hundreds of millions of dollars. In April, she told NPR she hoped for a “very significant reduction” this year, especially of people living on the street. But on Monday, Bass said it’s become clear that there’s simply no end in sight.
“We really need to normalize the fact, unfortunately, that we’re living in a crisis,” she said at a press conference announcing a renewal of her emergency declaration on homelessness.
The shift in tone comes after both LA and New York City recently declared a record level of homelessness, and other cities have also seen their numbers continue to climb despite considerable attention and spending to give people shelter. It’s part of a steady rise around the country since 2016, after years of successfully driving down the number of people without housing.
So what’s going on? Advocacy groups and researchers say a big driving force is the decline of affordable housing, a problem decades in the making but one that has grown significantly worse in the past few years.
…
https://www.npr.org/2023/07l BB huh no/12/1186856463/homelessness-rent-affordable-housing-encampments
“Advocacy groups and researchers say a big driving force is the decline of affordable housing, … ”
FedGov has been working tirelessly over decades to provide affordable housing.
Results?
– Highest home prices in the history of housing
– US birth rate at historic lows, thanks to young people unable to afford starter homes or any homes, for that matter
– Wall Street firms piling into housing investments to capture the inflationary benefits of the Fed’s mortgage rate buydowns through its Quantitative Easing MBS pirchase program
– Ever rising homelessness, thanks to low income people getting crowded out of housing in the margin
Heckuva job!
Jessica Nardi on June 16, 2023
U.S. Below Replacement Rate – These States Have The Highest Birth Rates
The prospect of overpopulation is commonly used to justify not having children, but America’s birth rate has actually been below the replacement rate since 1971.
While the mainstream media attempt to pin the blame on factors like environmental change and the unaffordability of goods, the states with the highest birth rates could tell a different story.
Below Replacement Rate
The United States’ replacement birthrate would be about two children per woman. The 2021 birth rate, however, was only 1.66 per woman. This is less than half of the nation’s peak rate in the 1950s, when women were averaging 3.7 children each.
The CDC reported that in 2020 the birth rate dropped from 3.7 million to around 3.6 million. Rates increased slightly in 2021, but by 2022 there were 3,000 fewer births and the rate still remains below pre-pandemic levels.
The birth rate for women between the ages of 20 – 24 has dropped 43% since 2007, while rates have increased for women ages 35 to 44.
State Rankings
The World Population Review and the Centers for Disease Control (CDC) report South Dakota as having the highest birth rate in the nation, growing at around 68 births per 1,000 people.
Vermont is ranked as the lowest, with a birth rate of 44 per 1,000 people. This means that South Dakota women are having 53% more babies than women in Vermont.
South Dakota and Utah were the only two states that were consistently maintaining the replacement rate, but by 2020 Utah’s numbers had dipped below replacement.
…
https://catholicvote.org/us-below-replacement-rate-states-birth-rates/
“But the concept of buying an entry-level home that quickly appreciates in value so you can sell it after about five years seems to have gone out the window, Jessica Lautz, NAR deputy chief economist and vice president of research, tells CNBC Make It.
Steadily appreciates?
The fed has thoroughly destroyed the role of “housing for families” model with the state department’s middle east bill of $7 Trillion accumulated over the past two decades, which started with Greenspan’s idea of easy home equity extraction to gin support for the dot.com bust.
Tom Elliott
@tomselliott
MSNBC’s
@morningmika
to Biden’s staff: “Do a better job b/c you can’t have these video images of the president tripping or the president like going to wrong way … b/c his age is going to be factor … It makes me mad.”
https://twitter.com/tomselliott/status/1679097933222772736?s=20
Reddit /r/Denver asks: Is living downtown actually worth it?
“I lived downtown 2018-2022. It was fun at first. Then Covid came and it went downhill. Got tired of being screamed at, stepping over human feces and the smell of meth/fent in the AM. Had numerous packages stolen. Building broken into many times. Finally had enough and moved to the foothills. While I miss good restaurants and being able to walk everywhere, I don’t miss much else.”
“Its not worth it at all. Sure youre close to everything BUT you’re paying out the ass for EVERYTHING. Oh cool king soopers is just a black away, thats awesome that I wont have to use my car to go buy my insanely over priced groceries. Oh there’s shows every night? Great! Parking should be a breeze everyday of the week then. Everything is so close, including the camps. Nothing like paying $1800 a month for 200 square feet surrounded by a perpetual cloud of pill smoke.”
Did your junk bonds go to sh!t?
Financial Times
High yield bonds
US junk bond market shrinks as rising rates put off borrowers
High-yield market contracts 13% from 2021 peak amid fears of false signals about American economy’s health
Pedestrians pass the Marriner S. Eccles Federal Reserve building in Washington
Investors note that economic indicators have so far been more buoyant than many had feared, despite the Fed’s aggressive tightening campaign
Harriet Clarfelt in New York an hour ago
The $1.35tn US junk bond market has shrunk by almost $200bn since its all-time peak in late 2021, helping to anchor prices at levels that investors say could give false signals about the health of the world’s largest economy.
A steep rise in interest rates since early last year has helped deter companies from selling new bonds, while several companies have climbed out of the high-yield market into investment grade territory. Meanwhile, more borrowers are turning to private markets for fresh funds. Altogether, this has wiped 13 per cent off the total value of US junk bonds in issue since the record high.
That shrinkage has left investors with less choice about what they can buy and has pushed some fund managers to purchase bonds they might not otherwise have picked. That is helping prop up junk bond prices, even though many market participants continue to anticipate some form of economic slowdown.
“Dramatically lower issuance” is “really underpinning the asset class in terms of valuations”, said Andrzej Skiba, head of BlueBay US fixed income at RBC Global Asset Management.
“We’ve got cash building every month . . . You end up just buying the same stuff over and over,” added Dan DeYoung, high-yield portfolio manager at $584bn investment firm Columbia Threadneedle.
…