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Many Markets Have Become Somewhat Overbuilt And There Is Additional Inventory Being Completed

A report from 425 Business in Washington. “SmartAsset found that the Seattle area hosts three of the top 25 spots in the lineup for the nation’s most expensive housing markets. Among the priciest is the Eastside’s Sammamish area. At the time of publication, the average price of a Sammamish home is about $1,485,583, per Zillow. Sammamish’s neighbor, Bellevue, ranked as the 19th most expensive housing market in the United States, followed by Redmond at placed 25. Despite their costly sale tags, the three neighborhoods nonetheless dropped on average 11% in price in the past year.”

The Real Deal on Texas. “The first problem for multifamily investors: supply. Austin has the third-largest multifamily pipeline in the country, with 42,600 units under construction, according to Matthews Real Estate Investment Services. The city’s developers delivered another 12,300 apartments last year. In the second quarter, the homebuilding giant Lennar saw new home orders grow by 26 percent, recovering almost all its losses of the previous year. (Price reductions no doubt played a role in this, as prices were down about 10 percent year over year.) Lennar competitor D.R. Horton saw its gross profit from home sales reach $1.6 billion in the second quarter, up $100 million from two years ago but down $500 million from last year.”

“‘There is general downward pressure on rents as many markets have become somewhat overbuilt, and there is additional inventory being completed and coming online,’ said Stuart Miller, co-CEO of homebuilding giant Lennar, in the firm’s June earnings call. Average rent in Austin peaked in August 2022 at $1,757, according to a survey of landlords. Since then, rents have fallen to around $1,680. If that line keeps trending downward, it’s a troubling sign for landlords, particularly for investors who relied on fast-growing rents to make debt payments.”

The San Mateo Daily Journal in California. “The housing market in San Mateo County is rebounding after last fall’s interest hikes shocked the market but experts say there’s a lot more to go before calling it a recovery. In the second quarter, the average median sale price was $1.9 million for a single-family home, up 8.57% from last quarter. However, in the second quarter of last year, the average median sale price was $2.65 million, a nearly 40% increase. Rachel Ni, Coldwell Banker real estate agent attributes it to the change in interest rates. ‘The average mortgage price is more than double from last year, and people’s capacity to get a loan is dropping drastically because of the interest rates,’ Ni said.”

Bisnow San Francisco in California. “San Francisco’s office market slid even further in the second quarter of 2023, clocking net negative 2.2M SF of absorption, making it one of the worst quarters on record for the market. ‘That’s the third-worst quarter since record-keeping started at CoStar [in] 1997,’ Transwestern Senior Research Manager George Entis said. ‘Business leaders have had to accept that hybrid work is a permanent reality now.’ The office vacancy rate stands at 31.6%, a historic high for San Francisco, according to the report. ‘I don’t think there is anything to suggest the story ends here,’ Entis said.”

The Baltimore Sun in Maryland. “Eight years after its sale fetched more than $66 million, the office tower at One South Street in downtown Baltimore sold last month for $24 million, a markdown that could be a barometer for the city’s commercial real estate industry. Commercial real estate prices across the country are slumping and many downtowns are struggling with vacant office space. The sale of One South Street — a 30-story building that opened in 1992 — appears to be the first post-pandemic sale of a downtown office tower in Baltimore.”

“Terri Harrington, a commercial real estate broker, pointed out that several high-profile tenants have left or plan to leave downtown Baltimore in recent years, including Transamerica, Bank of America, T. Rowe Price and Pandora. Pandora is moving its North American headquarters to New York, while the other three are headed for newer buildings in Harbor Point and Harbor East. ‘Occupancy drives value and many buildings downtown are struggling to maintain that occupancy,’ Harrington said. ‘I also believe you are going to see other buildings in the same boat.'”

Bisnow New York. “New York City retail might be rebounding, but the damage done by the ‘retail apocalypse’ and then the pandemic is far from over. At one large Brooklyn retail property, that damage was made clear this week when a new appraisal found its value had dropped by 88% after two major departures left it vacant. The value of the 102K SF retail building at 94-110 Court St. in Brooklyn Heights has dropped from $48.7M in 2013 to just $5.7M in a recent appraisal, according to DealX data reported by Morningstar Credit.”

From Barron‘s. “One of the most important figures in Bank of America’s second-quarter earnings report, due Tuesday, likely won’t be included in its main press release. The size of the company’s loss on a huge bond portfolio will probably be tucked into the financial supplement. The portfolio of so-called held-to-maturity securities, which totaled $625 billion at the end of March, showed a loss of $99 billion on that date. The loss reflects the drop in the bond market since that debt, mostly mortgage securities, was purchased in 2020 and 2021 at historically low interest rates of around 2%. Based on JPMorgan’s second-quarter profit report released Friday, the Bank of America securities losses may have widened a little in the second quarter, reflecting a modest drop in mortgage-backed securities prices. The JPMorgan loss was about $33 billion on June 30, versus $30 billion on March 31.”

CBC News in Canada. “After reaching record high sales prices at the height of the pandemic, the cottage market in Ontario has mostly softened into balanced territory. In Peterborough and the Kawarthas, the average cottage sale price dropped from about $1.24 million in the first quarter of 2022 to about $856,000 in the first quarter of 2023, according to ReMax’s 2023 cottage trends report. The number of sales in that area also dropped by nearly half. Closer to Ottawa, in the Rideau Lakes area, average cottage sale prices took a more modest dip of about five per cent, from about $990,000 in Q1 of 2022 to about $940,000 in Q1 of 2023. Sales remained steady.”

“Back in the summer and fall of 2020, bidding wars for cottages in and around Ottawa were resulting in final sales of about 50 to 70 per cent over asking prices, according to local realtors. Some of the listings going up for cottages in the Peterborough area include people who bought during the pandemic and are being dragged back to their jobs, or who have realized that cottages require a lot of work, said Greg Ball, owner of Ball Real Estate Inc. in Peterborough.”

Prince Albert Now in Canada. “The amount of homes bought and sold in Prince Albert in the last month has dropped compared to a year ago, but the benchmark price has increased. Local realtor Jesse Honch said the pandemic changed the nature of the service sector which has, in turn, changed the type of property people can buy. Houses in the 100,000 to $250,000 range are down almost 20 per cent in that price this year compared to last year. Federal policy changes during the pandemic such as dropping the interest rate to 1.5 per cent and removing the stress test of an extra two per cent caused the real estate boom because buyers could add $100,000 to the value of the home they could afford.”

Leeds Live in the UK. “Councillors in Leeds say they fear there may be too many student flats springing up across the city centre. There has been a huge rise in the number of student accommodation developments being put forward in the city since the Covid pandemic. Members of a local authority’s plans panel expressed concerns about the proliferation of student flats and the prospect of ‘ghost town’ areas during the summer months when courses end. Councillor Dan Cohen told the meeting: ‘When the students are not there it feels like a ghost town. There comes a point for me where I can’t keep supporting, time and time again, student accommodation when there seems to be an oversupply.'”

The Nelson Mail. “Nelson median house prices have dropped by 17.2% in a year, the largest fall in the country, leaving questions about how much lower the market can go. The big drop was in the Real Estate Institute of New Zealand’s monthly property report for June, putting the Nelson median price at $650,000, down from $785,000 a year ago and $770,000 in May. In Tasman, the fall was shallower with the median price down to $800,000 in June compared to $865,000 a year ago, a drop of 7.5%. Nationally, median prices for June were down 8.2% from last year. After Nelson, the next largest drop in June prices was 13.3% in Otago, 12.5% in Auckland and 10.4% in Marlborough. The REINZ report also showed the median days to sell in Nelson in June was the highest since 1999.”

“Nelson real estate agent Kat Campbell believed the sharp drop in the city was a rebalancing of prices which had been among the fastest, highest risers in the country in recent years. The longer selling times tallied with what she had witnessed, with factors including the wider choice now available to buyers who had no urgency to make a purchase. A couple of years ago, a house sale could be settled within three weeks; now it could be four to five weeks before they started seeing offers. Buyers were also very hesitant, worried that they were overpaying, she said.”

From CNBC. “China Evergrande Group posted a combined loss of $81 billion in its long overdue earnings report late on Monday. The world’s most indebted property developer fell into default in 2021 and announced an offshore debt restructuring program in March, having struggled to finish projects and repay suppliers and lenders. Evergrande’s net losses for 2021 and 2022 were 476 billion yuan ($66.36 billion) and 105.9 billion yuan ($14.76 billion), respectively, as a result of writedowns of properties, return of lands, losses on financial assets and financing costs, the company said.”

“Evergrande’s colossal debt pile in recent years has become the source of serious concern about China’s property sector, a bedrock of the Chinese economy, with defaults and abandoned property projects seen across the country. The company’s proposed restructuring is due to be heard at the High Court on July 24. JPMorgan estimates that around 50 property developers have defaulted on $100 billion of offshore bonds over the last two years, while dozens have been suspended from trading on the Hong Kong stock exchange.”

“CreditSights tracks the monthly contracted sales figures of more than 30 developers, and Sandra Chow, co-head of Asia-Pacific research at CreditSights said only eight had reported increases in their sales numbers. ‘Unsurprisingly, all of those are the state-linked or the stronger developers, so we’re seeing this increasing bifurcation where the strong developers are the state-linked, the large players, and the smaller ones are kind of left to languish, and it will be an increasingly consolidated sector,’ Chow explained. ‘Understandably, if you’re a homebuyer, you’re not going to buy a house from a weak player as well because there’s that risk that the developer will not be able to complete your house on time and then you’re going to be left with that liability, so it’s quite hard to see how the smaller developers will regain homebuyer confidence and then get the cash in to turn around their businesses.'”

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This Post Has 60 Comments

  1. ‘If that line keeps trending downward, it’s a troubling sign for landlords, particularly for investors who relied on fast-growing rents to make debt payments’

    Long ago I posted multiple articles showing these clowns had proforma’s that based the entire sh$tcart on way higher rents, which were already high. You know what that means?

    Sound lending!

    ‘Back in the summer and fall of 2020, bidding wars for cottages in and around Ottawa were resulting in final sales of about 50 to 70 per cent over asking prices, according to local realtors’

    Morer sound lending!

    1. “Morer sound lending!“

      – The majority of the economies of the developed world (OECD) depend on debt growth for economic growth. This isn’t organic growth, but rather artificial, asset price growth. Everyone drank the Koolaid. Cut off credit and you get outright contraction. We’re reached debt saturation once again after The Everything Bubble, aka The Central Bank Bubble, inflated. Now credit is contracting due rising rates, tight lending, liquidity withdrawal, as a response to the inevitable inflation from money printing. This is global due to the central bank economic virus. What happens next as the biggest bubble of all time deflates? Humpty Dumpty. I doubt there will be a 4th bubble, hence, The Great Reset. More Muppet reaping dead ahead, and maybe some 1%’ers this time as well. There’s no tolerance for another round of bailouts in my view.

        1. Massive liquidity still sloshing around in the system.
          That’s what I see also. Gonna be a little while more until all that is absorbed

  2. Denver Mayor Mike Johnston has been in office one day and he is already a failed mayor.

    His first public comments after being sworn in yesterday were about women and non-whites comprising the majority of the new city council. Not about crime, not about homeless, not about the cost of living.

    These people are as qualified to govern a city as the woke interns who designed the Titan submarine.

    1. ‘His first public comments after being sworn in yesterday were about women and non-whites comprising the majority of the new city council. Not about crime, not about homeless, not about the cost of living.’

      – Wait a minute. I thought affirmative action was over?
      – The leftist ruling class is all about virtue signaling to each other, where virtue means supporting the party line and narratives. Think “The Hunger Games” and you won’t be wrong.
      – Voters are the boiling frog and won’t realize how screwed they are until it’s too late. The end game approacheth. Venezuela syndrome.
      – Keep pulling that D lever.

      1. Denver7:

        “Johnston opened his roughly 10-minute address to the crowd at the Ellie Caulkins Opera House with praise for the newly-elected council.
        “Take a minute please and just enjoy and revel in the incredible gifts and diversity and talents that this city council brings, as a sign of a diverse and powerful Denver,” he said.

        “Take a minute please and just enjoy and revel in the incredible gifts and diversity and talents that this city council brings, as a sign of a diverse and powerful Denver,” he said.

        “I think the voters of Denver have said, ‘We want a new dream of Denver, we want to believe that big things are possible in the city. And we want a coalition of leaders who might not all agree on everything, but they’re going to work relentlessly together to actually deliver that,’” Johnston said.”

        What is the Denver Police clearance rate on reported vehicle thefts, today, versus 5 or 10 years ago?

        There’s no escaping the doom loop, Denver is a failed city.

    2. This reminds me of that woke new-hire marketing exec who thought it would be a good idea to engage Dylan Mulvaney to sell a blue-collar beer.

  3. “If that line keeps trending downward, it’s a troubling sign for landlords, particularly for investors who relied on fast-growing rents to make debt payments.”

    This news of falling rents is excellent for young families trying to find an affordable place to live.

    As for investors who bought at peak pandemic pricing on the belief that prices would keep rising, it turns out they were wrong. But there is no need for the MSM to serve up a nonstop pity party in their honor.

    1. “If that line keeps trending downward, it’s a troubling sign for landlords, particularly for investors who relied on fast-growing rents to make debt payments.”

      I thought investors had money.

      2. investors

        It’s not fair to call them that. The modern speculator doesn’t have money. He rents it, practically for free. Until it’s not so free.

  4. Financial Times
    Evergrande Real Estate Group
    Chinese developer Evergrande reveals $81bn loss from property crisis
    Results come two years after group’s default shocked global markets and led to sector collapse
    Evergrande’s Royal Peak residential development under construction in Beijing last year. Chinese authorities are prioritising completion of residential housing projects as the sector struggles to recover
    Thomas Hale in Shanghai yesterday

    Chinese property developer Evergrande has posted losses of $81bn over a two-year period, revealing for the first time the financial fallout of a 2021 default that sparked an ongoing crisis in the country’s property sector.

    The group, which is in the midst of a lengthy restructuring process after it failed to make bond payments almost two years ago, reported losses of Rmb476bn ($66bn) and Rmb106bn for 2021 and 2022 respectively. Revenues halved in 2021 to Rmb250bn, compared with Rmb507bn a year earlier.

    Evergrande doubled down on China’s property boom to become the world’s most leveraged developer and later embodied the sector’s struggles when its default shocked global markets in 2021.
    …

  6. HuffPaint:

    “Sen. Joe Manchin (D-W.Va.) took his flirtations with a third-party presidential run on the road on Monday by speaking at a town hall in New Hampshire hosted by No Labels, the political organization advocating for a bipartisan ticket in 2024.”

    The headline on the main HuffPaint website refers to him as a “spoiler” which is about what you can expect from globalist media.

    I support this, and Cornel West, and RFK Jr, and anybody who weakens the unelected occupant.

    He got 81 million ballots, he didn’t get 81 million votes, because the 2020 election was stolen.

    1. Related excerpt from Politico:

      “The centrist group No Labels signaled on Monday it will present a candidate for a third party presidential ticket by Super Tuesday … The announcement, hedged as it was, represented the furthest the group has gone to commit itself to going forward with its unity-ticket project. And it underscored the group’s movement from a largely behind-the-scenes presence to a more visible force — one that has left Democrats increasingly alarmed about the prospect of a third-party candidate spoiling the occupant’s reelection.”

      It’s not a reelection because he didn’t win the 2020 election.

      Clutch those pearls harder, because the Orange King is coming back.

  7. ‘In the second quarter, the average median sale price was $1.9 million for a single-family home, up 8.57% from last quarter. However, in the second quarter of last year, the average median sale price was $2.65 million, a nearly 40% increase’

    My calculator says 28% crater.

  9. Massachusetts Calls on Residents to Take Border Crossers into Their Homes

    JOHN BINDER
    17 Jul 2023

    Massachusetts officials are now asking residents to take border crossers and illegal aliens into their homes as illegal immigration continues adding to the state’s homeless population.

    Gov. Maura Healey (D) is calling on residents with empty bedrooms in their homes and apartments to consider taking in border crossers and illegal aliens, WBUR reports:

    Healey’s wanting to house border crossers and illegal aliens in residents’ private homes comes as the state is paying for nearly 40 hotels and motels across the state to house new arrivals — at taxpayers’ expense.

    As Boston Herald columnist Howie Carr noted, Healey has not sent border crossers and illegal aliens to nearly any of the “millionaire destinations” in Massachusetts — like Nantucket, Martha’s Vineyard, Cambridge, or Newburyport.

    “The Healey administration has released a list of the 28 cities and towns where it is spending millions on hotels and motels for thousands of handout-demanding illegals arriving from the Third World,” Carr writes. “Oddly, however, almost all the ultra-affluent suburban communities most loudly committed to celebrating diversity have thus far been unable to provide suitable free housing for the new non-working classes.”

    Today, about 316,000 illegal aliens reside in Massachusetts.

    https://www.breitbart.com/politics/2023/07/17/report-massachusetts-asking-residents-house-migrants/

    1. “almost all the ultra-affluent suburban communities most loudly committed to celebrating diversity have thus far been unable to provide suitable free housing”

      Great Replacement for thee, but not for me.

    2. Massachusetts officials are now asking residents to take border crossers and illegal aliens into their homes as illegal immigration continues adding to the state’s homeless population.

      I wonder how many of those virtue signallers with lawn signs welcoming illegals to the USA will take some into their homes. I suspect the number will be close to zero.

      1. In affluent neighborhoods I often see those “in this house we believe diversity is god etc” signs right next to the signs for ADT, Brinks, etc. In other words, we love diversity so much that if any of it shows up around here we’ll have the cops on its a$$ in five seconds.

    4. Again I’m no legal eagle, but I wonder if Kelo vs. New London is going to come into play here. Are local governments going to force us to rent our extra bedrooms to these illegal immigrants (or god forbid, the addict homeless), as a “public good,” as long as they print us some worthless dollars as Just Compensation? Can it be done federally?

    5. I guess everyone forgot those pictures of the trashed rooms in the 5-star hotels in Manhattan. You know, for supposedly being penniless, they sure can afford a lot of Modelo.

      1. Everybody up top knows these drug addled street people are incorrigible scum that should be fed into a large chipper, and the 5-star owners already lined-up the free money to completely refurbish their hotel.

  10. Dedollarization: Brazil Wants to Switch to Trade in National Currencies

    10 hours ago (Updated: 7 hours ago)

    “Brazil is extremely interested in using national currencies in trade with our key global partners and is discussing this issue with some of them. For instance, we already have a mechanism with Argentina that provides foreign trade operators with such an opportunity,” Vieira said in response to a question whether Brazil would look into the possibility of using Russia’s Mir payment system or making other steps towards dedollarization.

    The minister noted that creating such a system is a lengthy and complex process, which requires the participation of the central banks of all the countries involved.

    “We must move forward in this direction, and we are doing it, but with all the attention that such very complex processes require,” the top diplomat said.

    In late May, Brazilian President Luiz Inacio Lula da Silva said he would want to see a common currency introduced for the BRICS member states so that Brazil would not need to use US dollars in foreign trade.

    https://sputnikglobe.com/20230718/brazil-wants-to-use-national-currencies-in-trade-with-key-partners—foreign-minister-1111957649.html

  11. “After reaching record high sales prices at the height of the pandemic, the cottage market in Ontario has mostly softened into balanced territory. In Peterborough and the Kawarthas, the average cottage sale price dropped from about $1.24 million in the first quarter of 2022 to about $856,000 in the first quarter of 2023, according to ReMax’s 2023 cottage trends report.”

    A 31% drop, ’tis but a softening into balanced territory. I’m sure the people who paid those record high sales prices feel better now.

  12. Tears of joy! Love seeing the surge of STR’s being dumped in Big Bear Ca and Joshua Tree. Those with aspirational pricing are leaving a long trail of price cuts behind them. 10 X 10K cuts are more than a trim. Especially with limited inventory. It was the 2nd homes that were first to capitulate in 07 followed by the outer commuter belt and then worked its way through to the most popular areas. Are we finally at that tipping point?

  13. Way past one, and feeling alright
    ‘Cause with little Triggly round they can last all night
    Hey down, stay down, stay down down
    ‘Cause little Triggly, Triggly won’t go home

    But you can’t push Triggly ’round
    Triggly won’t go, try tellin’ everybody but, oh no
    Little Triggly, Triggly won’t go home

    ‘Trigglypuff’ Attempts To Shut Down Campus Event

    https://youtu.be/BY1H1rZL53I?t=33

    1. If Reddit was a person, it would be Trigglypuff.

      “They’re not sending their best”

      1. Last I checked, the global south has no interest in distancing themselves from our southern border.

        1. They wil always try to dump their refuse on us, but that doesn’t mean they like globo-homo

  15. KDVR: “In-N-Out Burger has informed employees in five states, including Colorado, that they will no longer be allowed to wear medical masks unless they have a note from their doctor, according to a company memo leaked on Twitter earlier this month.

    It’s not the first time In-N-Out Burger has been criticized for its stance on COVID-19 recommendations.

    In October 2021, the fast-food restaurant’s locations in Contra Costa County, California, refused to comply with a mandate that employees check the vaccination status of customers who planned to eat indoors. Instead, In-N-Out closed all five of its area dining rooms and only served food from the drive-through window.”

    No more cuck masks? Refusing to comply with “papers please” medical tyranny?

    Alienating all the right customers, IMO. Go eat your cuck lunch somewhere else, snowflakes.

  16. Homebuyers Angry! Evergrande Halts All Operations
    China Observer
    Premiered 2 hours ago
    This video reveals the numerous halted construction projects of Evergrande in Kunming. Countless unfinished properties resemble ghost towns, which is truly chilling. The videographer asks, “Are any of these unfinished Evergrande developments in Kunming ones that you bought?”
    The aforementioned unfinished properties by Evergrande are just the tip of the iceberg when it comes to its halted projects.
    In September 2022, Evergrande claimed to have 706 “halted projects” in hand, and here we only list a few of its most prominent ones.

    https://www.youtube.com/watch?v=ZgA8LmppL0E

    21 minutes.

    1. This entire “everything bubble” going on now around the world is based on one primary factor: That’s the gigantic housing and development construction of property in China by the CCP. The CCP borrowed money on the future assuming that their massive economic growth would continue and the borrowed funds could then paid back. And this sparked bubbles in economies around the world.

      Demand for everything construction related went through roof–steel, coals, equipment etc. Then everyone decided that real estate could create money out of thin air. Never mind the Japanese experience, this time “Things are going to be different!”

      When houses in West L.A., where I grew up go up price from $150,000 to $1,100,00, something has to give. Wages will NEVER go up high enough to make house buying affordable for most people and that’s the same story everywhere around the Globe.

      So best outcome, IMHO, is what happened to Japan after their bubble burst. Except this time the entire World Economy is going to crash. I’m glad I paid off my nice $132,000 house–life is nice where I am since there will never be any homeless drug addicts or dregs out here–they’ll all die in the heat or cold.

      1. I posted a report long ago, in this period you speak of, which said Chinese QE was 20 times what bernanke had done. It’s hard to know exactly what happened. But the globalist scum media never mention it, do they? And Jerry and the girls, they brought out the real bazooka for CCP virus!

  17. ‘Federal policy changes during the pandemic such as dropping the interest rate to 1.5 per cent and removing the stress test of an extra two per cent caused the real estate boom because buyers could add $100,000 to the value of the home they could afford’

    The K-dn central bank cut rates 3 times in March 2020.

    ‘buyers could add $100,000 to the value of the home they could afford’

    via GIPHY

  18. About a month ago the World Health Organization announced that the World must prepare for a new Panademic.
    Basically WHO warns of a Covid variant more deadly , or a new Pathogen more deadly than Covid Virus.
    England now talking possible lockdowns based on warnings about a Ebola like disease emerging that will hit England.
    They say the disease is passed by tick or cows and has a 10 to 40% death rate with no vaccine.
    These fraudsters are making this shit up .
    First, the WHO must be the most incompetent Health Agency, to let Congo confined diseases normally contained in Africa , to now be a threat as a Global Panademic.
    . .IMHO, this new threat will be justification to kill a bunch of cows, , cover up death and injury from the Covid vaccines, and impose global lockdowns, over a pathogen with scarier death rate with no vaccines…
    They will propose a warp speed EUA vaccine, while lockdowns make it possible to rig the 2024 election. . . And than WHO will exercise its Treaty Powers to enact extended lockdowns and mandate new fake killer shots that Big Pharmacy produces in 6 months …All media will be controlled by WHO as Treaty Powers exceed and override Constitutional protections, including free speech.
    Joe Biden doesn’t have the Authority to sign the final draft WHO Treaty in Sept
    …. United Nation WHO is a unelected health agency.
    The WHO is lead by a known commie Dr Tedros, who isn’t a real Dr. or expert.
    Bill Gates .donates millions to WHO and WHO is a puppet for WEF and CCP.
    So, a bunch of wealthy individuals and Corporations , , World Banks ,United Nations , other creeps in collusion with z governments to take over World, using fraudulent emergencies like Climate Change and virus Panademics.
    So, I predict very soon they have to rev up the new more scary Global Panademic.
    If we had a government, they would be impeaching Biden for sneaking around and abusing his Authority, and transferring US powers to a corrupt WHO.
    I don’t think Bidens acts would pass Constitutional scrunty in the High Court, but all the damage will be done by the time his unlawful transfer of Power to WHO is even disputed. Biden has to be stopped now.

    1. Of course there has to be another pandemic. All that free money from the last one is about used up.

  20. Illegal immigrant kids with tuberculosis infections released into 44 states

    By Stephen Dinan – The Washington Times – Tuesday, July 18, 2023

    The government is releasing thousands of illegal immigrant children with latent tuberculosis infections into American communities without assurances of treatment.

    Nearly 2,500 children with latent infections were released into 44 states over the past year, according to a court-ordered report on how the Health and Human Services Department is treating the children.

    About 126,000 total were released, indicating an infection rate of 1 in 50 migrant children.

    The government says it can’t treat the children because they are in custody for a short time and treatment requires three to nine months. HHS releases infected children to sponsors and notifies local health authorities in the hope that they can arrange for treatment before the latent infection becomes active.

    Those hopes are often dashed.

    https://www.washingtontimes.com/news/2023/jul/18/health-department-released-thousands-of-illegal-im/

    1. FWIW, tuberculosis is a nasty disease. We’ve had farm workers in our area infecting everyone around them.

    2. The neighbors next door are pulling their kids from government schools and will be homeschooling.

    1. Found this in the videos below your “JOHN COLTRANE , STAN GETZ Autumn in New York” video. Good tune by the way.

      After looking it up I found it hit the radio waves the year I turned 5. I never knew why I listened to or liked the song “Girl from Ipanema” and the girl who sang it but I think I just figured it out. It was my 5 year-old brain telling me I was heterosexual. 🙂

      Girl from Ipanema by Astrud Gilberto with lyrics.wmv

      https://youtu.be/vw_a9LuWvE8

      From Wikipedia

      “Garota de Ipanema” (“The Girl from Ipanema”) is a Brazilian bossa nova and jazz song. It was a worldwide hit in the mid-1960s and won a Grammy for Record of the Year in 1965.

  23. Now they are going to arrest Trump for the Jan 6 thingy. Your allowed to protest a election.
    Remember when Bush and Gore were disputing that election and they were recounting the hanging chads in Florida.
    This is as ridiculous as the Russian Hoax, the 2 trump impeachments , and the other
    arrests and lawsuits.
    I have never seen anything like this. . At the same time they are allowing the fake President Biden to take a wreaking ball to the USA, , , and they won’t impeach that pervert crook for all his real crimes,Abuse of Authority, and out right treason.
    Unbelievable!

  25. Does it seem odd for a list of cities most “at risk” for home price decline would omit west coast markets where prices are widely known to already be plunging into the CR8R?

    1. 2 Tampa Bay-area housing markets ‘at risk for home price decline’: report
      by: Athina Morris
      Posted: Jul 17, 2023 / 05:04 PM EDT
      Updated: Jul 17, 2023 / 06:00 PM EDT
      FILE VIDEO: Florida cities facing ‘most overpriced rent’.

      TAMPA, Fla. (WFLA) — North Port-Sarasota-Bradenton and Lakeland-Winter Haven may be among the top five metro areas where the housing market is cooling off the fastest.

      According to a leading real estate data and analytics company, there could be a steep decline in home prices over the next year in four Florida markets that are “significantly” overvalued, including those two metro areas.

      Based on an analysis of more than 40 years of data from public records and servicing and securities databases, including repeat-sales transaction data, CoreLogic ranked the top five markets in the United States that are at risk of home price decline. The evaluations are based on price, time between sales, property type, loan type and distressed sales.

      According to the report, the following housing markets are the most at risk, with the Lakeland-Winter Haven and North Port-Sarasota-Bradenton metro areas ranked at No. 2 and 3 respectively.

      1. Provo-Orem, Utah
      2. Lakeland-Winter Haven
      3. North Port-Sarasota-Bradenton
      4. Cape Coral-Fort Myers
      5. Port St. Lucie.

      The CoreLogic Home Price Index shows each city has above a 70% chance of a price decline over the next 12 months, giving each rating a 50% to 75% confidence score.
      …
      https://www.wfla.com/news/local-news/2-tampa-bay-housing-markets-at-risk-for-home-price-decline-report/

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