thehousingbubble@gmail.com
Blog

There Will Definitely Be Room For Negotiation

A report from Bangor Daily News. “Property values declined last year in many rural Maine towns and some surprising ones, including Cape Elizabeth and Carrabassett Valley, according to Zillow. Real estate agents in Cape Elizabeth, the Sugarloaf region and central Maine said that though they aren’t seeing a noticeable decline in property values in their areas, the declines might be a partial result of a lack of available homes right now. ‘Some things are sitting for longer than they would have, and most of those, I would say, are clearly overpriced or need work, preventing buyers from taking the plunge, because it still is hard to get people in to do the work,’ said Mary Libby, who owns an eponymous real estate agency based in Cape Elizabeth.”

“Jeff Kennedy, the designated broker of Mountainside Real Estate in Carrabassett Valley, said sales for larger, more expensive properties have ‘certainly slowed down,’ he said. ‘When things are priced right, they’re still selling,’ Kennedy said. ‘There are worse properties, particularly some of the older camps and things like that, in the area that were overpriced. We’re seeing the prices go back.'”

“Some more coastal regions in Maine that saw decreased property values from June to December last year include Brooklin, Brooksville and East Machias. But many rural, inland Maine towns also saw declines. The largest was a 3.6 percent decline in the Franklin County town of Phillips, where average home values are less than $180,000. Guilford’s homes are $30,000 cheaper, and the town saw a 3 percent decline. Prices also dropped in the rural towns of Unity and Chesterville.”

Palo Alto Online in California. “Here’s a look at where the Midpeninsula’s housing market was last year and where it’s expected to go in 2024. Despite all the catching up through the year, home prices still showed their first decline since the pandemic. The median price of a single-family home in Palo Alto declined by more than 8% to $3.3 million. All three affluent sub-neighborhoods of Palo Alto, namely Old Palo Alto (-12%), Crescent Park (-14%), and Professorville (-23%), experienced double-digit drops in median sold prices. Importantly, this decline was not attributed to a scarcity of high-priced homes but rather to a drop in actual sales. The tech industry’s shake-off of excesses built during the pandemic bubble, though worrisome for layoffs, is seen as positive for the industry’s long-term health.”

The Denver Post in Colorado. “The date was Nov. 9, 2006. The venue was the Broomfield Event Center. The place was packed. Little could the mayor have imagined that not even 17 years later, the Broomfield Event Center — later renamed the 1stBank Center — would hold its final event. After All Elite Wrestling’s Dynamite and Rampage show on Sept. 27, the city-owned venue went dark. The 150,000-square-foot building, with curvaceous rooflines accented in red, is destined for the wrecking ball as early as June. Its demise has many causes, from a taxing district plan that failed to live up to expectations to competition from both established and newer concert venues along the Front Range. ‘It never performed,’ Broomfield City Manager Jennifer Hoffman said. ‘It never delivered from the beginning.'”

“Then there’s the city’s own involvement with the 1stBank Center — a dynamic Hoffman, the city manager, reflects on often. The facility costs approximately $1.2 million to operate per year. ‘You build it, you owe more than the building is worth,’ she said, and ‘then you have three years of the worst recession since Black Tuesday (in 1929). There are many excellent lessons learned for us not to have a repeat performance.’ Stephanie Delaney, who was walking her dog on a recent frigid morning, has lived in Arista for about a year. More apartments, she said, ‘would be a bummer.’ Restaurant owner Kayla Leavitt, already missing the loss of venue traffic she used to get at the Proto’s Pizza she runs, is even more blunt about the prospect of more housing: ‘Anything but apartments,’ she said.”

Axios on North Carolina. “Uptown’s cooler, younger neighbor is stealing its prospective office workers. It’s unlikely South End, where new office buildings keep opening, will experience the kind of empty cubicles and quiet hallways that buildings in other parts of town do, industry experts tell Axios. ‘It is one of the anomalies in the entire office market across the country,’ says James LaBar, senior vice president of economic development for Charlotte Center City Partners. A handful of large buildings may be to blame for pulling the occupancy rate down in Uptown. For example, at least five buildings are more than half empty, according to the city’s report.”

Bisnow New York. “Scott Rechler built the foundation of RXR Realty’s $19B portfolio in the aftermath of the Global Financial Crisis, buying up office buildings from owners who had fallen on hard times. Now he’s looking to do it again. RXR has teamed up with Ares Management Corp. to launch a $1B fund that is seeking to acquire Manhattan office towers that have struggled to stay competitive following the pandemic’s reshaping of the workplace, The Financial Times reports. The fund is already in talks to acquire $1B of office loans from banks at a discount, Rechler told the FT.”

“Rechler’s firm hasn’t been immune to that distress itself. The firm defaulted on its $240M loan on the 790K SF office tower at 61 Broadway last year. Its lender has been marketing the loan for sale, and RXR has agreed to hand over the keys to whomever buys the building’s debt. More than $32B of U.S. office loans were in distress as of the third quarter, according to data from MSCI. Another $50B of loans were marked as potentially distressed. Ares partner Craig Snyder told the FT that there has been a ‘broad, indiscriminate flight of institutional capital from the office sector,’ pressuring owners of buildings with maturing debt that might otherwise be healthy.”

From Bloomberg. “Canada is limiting a key source of its growing population by capping the number of foreign students, a move aimed at quelling public anger at Prime Minister Justin Trudeau’s government over a housing shortage. The federal government on Monday set an intake cap for international student permits at about 360,000 for 2024, or a decrease of 35% from last year, according to Immigration Minister Marc Miller. The cap will remain in place for two years, with the 2025 limit to be reassessed at the end of this year. The new measures are aimed at curbing that growth, especially in colleges that Miller has accused of churning out bogus diplomas like ‘puppy mills.’ Students in master’s and post-doctoral programs aren’t included in the cap.”

“‘It’s a bit of a mess. It’s time to rein it in,’ Miller told reporters in Montreal. ‘It’s not the intention of this program to have sham commerce degrees or business degrees that are sitting on top of a massage parlor that someone doesn’t even go to and then they come into the province and drive an Uber.’ His office has previously pointed to Ontario — where more than half of the one million visa-holders are based — as well as Nova Scotia and British Columbia as jurisdictions with unsustainable growth.”

“‘It’s the single biggest thing that we can do immediately to address the housing crisis,’ said Mike Moffatt, senior policy director at the Smart Prosperity Institute and a former economic adviser to Trudeau from 2013 to 2015. ‘We will first of all see easing pressure on the rental market. But what we’ll also see is an overnight investor say, you know what, the student market doesn’t look as attractive as it did.'”

London News Online in the UK. “Shop owners below the infamous Nestle Tower in Croydon say they are desperate for signs of real progress as they struggle to attract trade in what they say has become a ‘dead zone.’ R&F Properties, a large Chinese development company, began redeveloping the tower into more than 200 flats in 2019 after purchasing the tower and the adjoining Grade II-listed Segas House in 2017. However, the redevelopment came to an abrupt halt in 2020 and the sole remaining trace of work on the tower is the scaffolding that still encases it today.”

“The few shop owners left on St George’s Walk, an arcade which runs beneath the St George’s Tower (its official name) say they feel a deep sense of uncertainty about the future. They say they often get no passing trade throughout the day. One of those shop owners, Moshin Akbary, said: ‘It’s a dead place. The dilemma is that the company who were going to develop it is now not doing anything with it. This is not the St George’s Walk we want.'”

Edinburgh Evening News. “Midlothian’s MP has called for more scrutiny of the construction industry after communities were left ‘in limbo’ by the collapse of a major house builder. Owen Thompson says the uncertainty caused by the news Stewart Milne Homes has gone into administration is a blow for councils across Scotland. The news means work has stopped on 28 council homes due to be delivered as part of the new town of Shawfair, with the local authority saying it does not know when or if it will restart. Mr Thompson said already cash-strapped councils across Scotland were braced for the financial blow as they grapple with the fallout from the administration of house builder Stewart Milne.”

“Unfinished council homes, unadopted roads, and snagging issues are just some of the problems that local authorities may now have to deal with in the wake of Stewart Milne’s collapse. The MP said the impact was being felt across his constituency already. He said: ‘This is a major blow for Midlothian. There is now a real sense of uncertainty over a contract for 28 affordable homes in the Shawfair development, which had been undertaken in partnership with Stewart Milne Group. This is an absolute mess. People have lost their jobs and other may lose their homes. Now, with the firm’s administration, we don’t even know if those homes will ever be built. He said: “This is a major blow for Midlothian. There is now a real sense of uncertainty over a contract for 28 affordable homes in the Shawfair development, which had been undertaken in partnership with Stewart Milne Group. We need answers and support for the communities left in limbo.'”

Australian Associated Press. “More than 1300 Victorian households are waiting for their domestic insurance claims to be settled, with an unprecedented number of people seeking financial help. The collapse of builder Porter Davis and other construction companies in 2023 led to the influx of cases being referred to the state-backed insurance agency. More than 30 home owners impacted by builder collapses have now written to Premier Jacinta Allan and the Victorian Ombudsman seeking transparency over how claims are processed.”

“There were more than 4849 claims submitted since the beginning of March 2023 for incomplete homes or those with defects, according to the Victorian Managed Insurance Authority. Some 213 of the 1359 outstanding claims are relate to Porter Davis and 462 were lodged on the day it collapsed. About half of the outstanding cases were submitted within the last 30 days, the authority said. The rest of the outstanding claims are connected to other companies and may include instances where the insurer has made an offer which has not yet been accepted.”

“The letter sent to the ombudsman and premier over insurance concerns alleges issues such as a lack of transparency or prolonged claims which resulted in a ‘double catastrophe’ for those affected. ‘Our collective experiences with (the authority) have been fraught with unjustifiable delays, opaque decision-making, and outcomes that are unreasonable, oppressive, and grossly unfair,’ the letter says. Opposition home ownership and housing affordability spokesman Evan Mulholland said hundreds of people had been let down by an ‘unfair and protracted’ insurance process. ‘The last thing any victim of a home builder collapse should face is delay as they try to get their life back on track and achieve their dream of buying a home,’ he said.”

From Lifestyle Asia. “A mansion on the Peak just sold for HKD 833 million (USD 107 million). The ultra-luxury home sold at over a 35% discount from its previous valuation of HKD 1.3 billion back in October. The mansion in question is a two-storey, 11,687 sq ft home located on 25-26 A&B Lugard Road. The selling price means that the square foot price for this transaction was roughly HKD 71,000 amidst a real estate slump in Hong Kong.”

South China Morning Post. “Embattled mainland Chinese developer Country Garden Holdings has put a chunk of assets on the block in Guangzhou in a bid to repay sizeable debt due within the next six months. The move comes on the heels of an agreement struck last week by the developer’s subsidiary to sell its last investment in Australia. ‘At the moment, investors in the mainland, especially those owned by the state, still have plenty of dry powder, so they might consider [picking up] property projects, especially the good ones,’ said Shen Meng, a director at Beijing-based investment firm Chanson & Co. ‘One main thing to consider is whether the listing prices are attractive enough. In Country Garden’s case, there will definitely be room for negotiation.'”

“The assets – two office towers, a hotel, a residential building and commercial property – have a combined base price of 3.82 billion yuan (US$530 million), marking Country Garden’s most ambitious attempt at divestments in the city.”

The Times of India. “There is no denying now that China’s economy, the world’s second largest, is in deep crisis. China’s economy grew 5.2% in 2023, slightly above the official target, but the recovery was far shakier than many analysts expected, weighed down by the mounting local government debt and deepening property crisis. This week, stock markets in China and Hong Kong have plummeted to their lowest levels in several years, as faith in the world’s second-largest economy has dissipated and international investments have withdrawn. This downturn coincides with data indicating faltering economic growth and a worsening crisis in the real estate sector.”

“Secondhand home prices in China’s four wealthiest cities dropped by 11% to 14% in December from a year ago, according to Centaline Property. Developers defaulted on about $125 billion of overseas bonds between 2020 and late 2023, according to S&P Global Ratings. More than 50 developers, mostly private ones, have gone bust. Some local governments, which rely on land sales for income, have hidden debt worth up to $800 billion, according to some estimates. In the latest data from the NBS, 62 out of 70 cities witnessed a decrease in home prices on a monthly basis, marking an increase from the 59 cities in November.”

“This has forced real estate developers to restore unusual and bizarre marketing strategies. According to a Wall Street Journal report, a real estate firm in Tianjin aired a video commercial with the tagline ‘buy a house, get a wife for free.’ This was a clever twist on the phrase ‘buy a house, and give it to your wife,’ utilizing identical Chinese characters but structured in a manner commonly associated with offering complimentary items to home purchasers. In September, the firm received a penalty of $4,184 due to the advertisement.”

Related Posts
This Post Has 121 Comments

  1. ‘All three affluent sub-neighborhoods of Palo Alto, namely Old Palo Alto (-12%), Crescent Park (-14%), and Professorville (-23%), experienced double-digit drops in median sold prices. Importantly, this decline was not attributed to a scarcity of high-priced homes but rather to a drop in actual sales’

    It’s a good thing everybody put 30% down!

  2. Dang, I already had my tickets to the Dynamite and Rampage show. This Colorado article is a hoot. What a disaster.

    1. As a Colorado taxpayer, I fail to see the humor in the situation. This Bolshevik-malgoverned state is so fooked.

      1. Curiously, a similarly sized arena (Blue Arena) in Loveland has done well. It helps that it has hosted a very popular local minor league hockey team for 20 years, unlike the arena in Broomfield.

    2. That is a wild story. I used to live not far from there (and grew up around there). I always thought it was a stupid idea, but 135 million dollars wasted stupid??????? I had no idea.

      I also thought the part about they planned for 180 events a year but the most they ever got was 33. Hilarious. Good thing it’s only tax money and not their money.

      But don’t worry, i’m sure no government employees lost their jobs or suffered any consequence from blowing all that money.

  3. ‘there has been a ‘broad, indiscriminate flight of institutional capital from the office sector,’ pressuring owners of buildings with maturing debt that might otherwise be healthy’

    That sounds like contagion Craig.

  4. ‘The letter sent to the ombudsman and premier over insurance concerns alleges issues such as a lack of transparency or prolonged claims which resulted in a ‘double catastrophe’ for those affected. ‘Our collective experiences with (the authority) have been fraught with unjustifiable delays, opaque decision-making, and outcomes that are unreasonable, oppressive, and grossly unfair,’ the letter says…‘The last thing any victim of a home builder collapse should face is delay as they try to get their life back on track and achieve their dream of buying a home’

    That’s some mighty little feet stamping Evan.

    1. Overcome with guilt and remorse for letting down shack purchasers, every builder, regulator, and policymaker who read Evan’s letter was galvanized into action to put things right and atone for their sins against their trusting customers, no matter what it cost them.

      The End.

  5. Federal income taxes.

    New York Post — Don’t believe the lies: The UN is paying illegals using US taxpayer cash (1/22/2024):

    “The UN’s just released the 2024 “Inter-Agency Coordination Platform for Refugees and Migrants from Venezuela” (R4V for short), a planning and budget document for handing out $1.6 billion in 17 Latin America countries.

    It confirms the UN, with the helping hands of 248 named non-governmental organizations, is indeed giving debit cards to illegal migrants — funded, in large part, by US taxpayers.

    Despite the R4V plan title naming Venezuelans as recipients of this aid operation, the document’s fine print (footnote on page 14 and paragraph on page 43, for instance) says the largesse goes to “all nationalities” and “multiple other nationalities.”

    The documents clear up any mystery about what the UN and NGOs are doing on the migrant trails and leaves no room for supposedly debunking “fact checks.”

    In a nutshell, the UN and its advocacy partners want to spread $372 million in “Cash and Voucher Assistance (CVA),” and “Multipurpose Cash Assistance (MCA)” to 624,300 immigrants who in-transit to the United States during 2024.

    That money is most often handed out, other UN documents show, as pre-paid, rechargeable debit cards but also hard “cash in envelopes,” bank transfers, and mobile transfers the U.S. border-bound travelers can use for whatever they want.

    This is only one part of much broader UN hemisphere-wide vision that aims to spend $1.59 billion assisting about three million people in 17 countries who emigrated from home nations.

    The UN report predicts northern migration will continue to increase in 2024.

    Then it does, finally, tag the real culprit: Biden administration policies that created “newly established opportunities for regular pathways to move to the United States of America.”

    https://nypost.com/2024/01/22/opinion/dont-believe-the-lies-the-un-is-paying-illegals-using-us-taxpayer-cash/

    You are being replaced.

    And you are paying for it, all of it.

    2. I was watching a video last night where some foreigners were interviewing some invaders and one invader claimed he was paid $30,000 to come. He was a very cheerful man and he was emphatic that he doesn’t regret coming at all. This obviously sounds ridiculous and is unverified but regardless of the whatever the real number may be, it is very clear from the eagerness of these travelers that they are being paid to come. You don’t wake up one morning and decide to hike through multiple counties as well as the gap even bringing your kids unless there is a serious incentive to do it.

      1. If he was paid that much he could have flown straight to Juarez.

        Maybe he meant 30,000 Bolivares or whatever they use in Venezuela

        1. $30,000 US Dollars =
          926,980 Egyptian Pounds
          114,456,927 Ugandan Shilling
          113,097 Peruvian Sol
          148,610 Brazilian Real
          118,594,250 Columbian Peso
          741,177.05 Honduran Lempira
          10,857,000 Zimbabwe dollars
          108,161,279,442,599 Venezuelan Bolivars

          I checked other 2nd/3rd world countries, and for all of them $30K is in the millions of currency units. That’s pretty hard to confuse with 30,000. So maybe he did get $30K US dollars.

          1. 30,000 Venezuelan Bolivars = 830.38 US Dollars, so maybe he got 30,000 Bolivars.

            The “dollar” was a coin used in the Spanish Colonies and also in our country (the colonies). Maybe they still call their pesos “dollars”.

  6. Real estate agents in Cape Elizabeth, the Sugarloaf region and central Maine said that though they aren’t seeing a noticeable decline in property values in their areas, the declines might be a partial result of a lack of available homes right now.

    Realtors are liars.

  7. All three affluent sub-neighborhoods of Palo Alto, namely Old Palo Alto (-12%), Crescent Park (-14%), and Professorville (-23%), experienced double-digit drops in median sold prices.

    Is that a lot?

      1. I grew up in one of those. Never understood the center atrium, though my father made it go away shortly after they bought it the mid 70’s.

      2. Palo Alto, CA is seven digits for small, flat roof, center atrium patio, non-insulated, 60s POS Eichler homes with lots of sliding doors à la Japanese shacks.

        Yep.

  8. KDVR — Denver’s safety net hospital says it is facing a financial crisis (1/22/2024):

    “Denver Health was already dealing with significant financial challenges, and the cost of migrant care is now adding to that.

    Denver Health provided more than $130 million in uncompensated care last year. Leaders say about $10 million of that was for migrant care.

    From October through December, migrants made up about 10% of emergency department visits.

    “One out of every four migrants that has come to Denver has come to Denver Health for healthcare, on average for about two and a half visits,” said Dr. Steve Federico, chief of government and community affairs for the hospital. “So, we saw 20,000 visits last year that we attributed to the migrant population. That’s a lot of care that we weren’t planning on giving.”

    https://kdvr.com/news/local/denvers-safety-net-hospital-says-it-is-facing-a-financial-crisis/

    “They’re not sending their best”

    1. That’s a lot of care that we weren’t planning on giving.”

      All the costs of this are going to be passed on to those who have to pay for their own healthcare, as well as those of our globalist imports. FJB!

    2. Makes you wonder why these hospitals don’t establish non ER, outpatient clinics for the invaders. I’m sure it would cost a lot less. But that doesn’t seem to be a priority for the medical industrial complex.

        1. Speaking of that (from the Colorado Sun:

          Colorado officials thought they had 3 more years to spend $1.5B in federal COVID aid. They have 11 months.
          State officials blamed the time crunch on shifting guidance from the U.S. Treasury Department

          Colorado state budget writers are in a race against the clock to spend $1.5 billion in leftover federal pandemic aid before the end of 2024 thanks to new guidance from the U.S. Treasury Department.

          The deadline is two full years sooner than state lawmakers and Polis administration officials had expected. That has set off a mad scramble to rewrite the budget for the current fiscal year, which ends June 30, to allow the state to spend federal American Rescue Plan Act dollars faster than lawmakers intended.

          I can’t wait to see how those free FedBucks will get burned.

          1. I can’t wait to see how those free FedBucks will get burned.

            This is one of the reasons i am not so sure we have a recession in 2024. I still think there may be are a lot of Pandemic funds floating around
            I wonder if the change in guidance was to get it spent to keep the economy going thru the election.

      2. And how many of them are military age men? They are the absolute healthiest of humans.

        One time I was in the ER for a deep cut and there were a few young Central American guys there. From what I could gather, they strained a couple neck muscles doing construction or yard work.

        As for clinics, I see almost nobody at the outpatient clinic urgent cares like Patient First. They don’t do things for free.

    3. speaking of overcrowded hospitals, I remember a few years ago, when one of my sons was taken to the nearest hospital by ambulance after getting hit by a automobile.
      it turned out to be minor & he was released within a few hrs but when I arrived to check on him, I had to wind my through a long line of people, at least 100, clogging-up the entrance hallway to the E.R.

      this was at Mercy San Juan on Coyle Ave. in Carmichael, CA.
      I could not believe the congestion for E.R. care . . . . absolutely appalling!

      told the spouse I will never complain about Sutter again.

      * neighbor reported even worse last week after his son was taken to same facility, w/people spilling out to the parking lot.

      1. w/invaders spilling out to the parking lot

        Fixed it.

        I find it interesting that all these invaders were somehow fit and healthy enough to trek thousands of miles on foot, through jungles, mountains and deserts, riding on top of box cars and swimming across the Rio Grande, and yet they so desperately need medical care that they will line up for hours outside an ER. They can’t all be pregnant women going into labor?

      2. Years ago, I had to take my very frail, 80 yo+ mother to the ER (Las Vegas). It was packed, and we were there all evening. At midnight, I told the people at the desk we were giving up and going. They very kindly moved her to the head of the line.

        We resented sitting among people who think it’s appropriate to bring their children to the hospital for routine vaccinations. They were demanding, angry, loud, rude. I asked a nurse what’s the story behind bringing kids in in the middle of the night for something that should be handled at a doctor’s office or clinic. She just shrugged, said damned if I know.

        Saw a lot of outrageous stuff in hospitals in the years I took care of her. The patients (along with numerous family members accompanying them) didn’t speak or hardly spoke English at all.

        1. My little burg has two hospitals with ERs. I can’t say that I go there frequently, but I have been once for myself and have taken others. They have never been slammed like in other places.

      3. speaking of overcrowded hospitals,

        a buddy of mine was in a semi-rural but wealthy community’s emergency room in SC for a heart issue. He said he spent the night attached to all the monitors (of course) in a closet with people all around. He checked himself out AMA said he could stand another night like that.
        No invaders there but the community is growing like crazy.

      4. I only have to say two things about health care is US. It’s a broken, corrupt, but also abused system like nowhere else on the planet.
        The real cost is merely a fraction of what they charge, the insurance companies keep the vast majority of the money as profits, the doctors are more abused than your immigrants from the south working with no benefits on the farms. It’s bankrupt system based on fraud, greed, and more fraud.

        I have no idea how a modern country can’t resolve this issue. What is so difficult about having 4-5 levels of insurance?

        1. super luxury with large personal hospital rooms, with hoards of people entertaining you, stripers , room for all your extended family, private shows, etc.
        2. 3. 4.
        5. basic accommodation with large shared rooms, with all the care you need to get you on your feet as quick as possible.

        Turns out, the system is based on extortion. You either pay the most luxurious plan available, or they’ll make sure to deny you any kind of care. They spend more effort barring people from any care than trying to come up with a system that works for all.
        I’m not sure how the free people don’t see and can’t realize what’s going on.

        You really can’t just blame it on immigrants all the time. How about the system?
        I went to Malaysia with a friend many years ago. She was sick with dengue fever for a week. She was hospitalized for 5 days. I spent a lot of time in that hospital with her. Nice doctors, plenty room for everyone, nothing luxurious just plane shared large rooms, very clean and pretty modern in any way.
        When she was released, she had to pay a staggering 124 dollars for five days. And that’s because she was a foreigner. That’s all. And that’s an Islamic country considered second tear or less. How come those guys can do it but it’s so impossible to do it in the great USA?

        Also, I have an American fried living in Milano region. She doesn’t want to be a permanent resident because of high taxes. If she were a resident health care would be free for her, but the taxes higher. She chose to buy private insurance. She pays 137 euro a month because she is a non resident.

        Again, how do all these European countries do it, and why is it so difficult in USA? I would really like to know.
        Thanks!

        1. If she were a resident health care would be free for her, but the taxes higher.

          So it’s not free.

        2. I went to Malaysia with a friend many years ago.

          I am in Malaysia now and I screwed up my foot (strained tendon). I saw an orthopedist at a private clinic with about a 2 minute wait. (he spoke English)
          His office didn’t take credit cards and I was unsure about the amount needed, so he, the Dr, after about a 20 minute wait, walked down stairs to the clinic, which did take credit cards, and gave me my cortizone shot. Cost was 717 MYR (Ringits) or about $158.

          1. I think at a regular emergency room you probably would have payed nothing. Private clinics are always more expensive.

  9. ‘It never performed,’ Broomfield City Manager Jennifer Hoffman said. ‘It never delivered from the beginning.’”

    Conservatives warned all along that this was a boondoggle, but Denver’s Communist apparatchiks plowed ahead anyway.

    1. Technically, they were Broomfield apparatchiks.

      But yeah, unlike in Loveland, there never was a good case for a smaller arena in Broomfield, as there are many other venues already in the Denver area. It was doomed to fail.

      1. They will tear it down and build a homeless/invader warming shelter there for even more money. It’s all fun and games as long as someone else is paying for it.

        1. They could use the existing arena for that.

          What is crazy is that Bromfield still owes about $30 million on the bonds used to build the arena. If the people in Broomfield are willing to vote for more money to build a homeless center in its place, that’s their prerogative. The word is that apartments will be built where the arena stands, probably “luxury apartments.” The existing area around the arena is fairly new and kind of yuppie, so I expect them to build more of the same.

    1. “Reinvest.” You keep using that word, commies. I don’t think it means what you think it means.

      1. A lot of people misuse that term:

        “We decided to invest in a new car”

        “Cool! What is your expected rate of return? 5% per year?”

        “Whut?”

    2. Only two of the five EV buses are currently operating while the other three are out of service while awaiting repairs.

      But, but, but they have fewer moving parts! The vendor swore that they wouldn’t break and required far less maintenance than an ICE bus.

    3. Asheville, North Carolina, is looking to reinvest in biodiesel-powered buses after investing millions of dollars in an electric fleet that is only partly operable,

      If I recall correctly, based on a written by Andy Ngo, Asheville was the only city east of the “Appalachian mountains” to have an active Antifa chapter. (2021)
      Very good book.

  11. Ares partner Craig Snyder told the FT that there has been a ‘broad, indiscriminate flight of institutional capital from the office sector,’ pressuring owners of buildings with maturing debt that might otherwise be healthy.”

    Gosh, I fear the accelerating doom loops in commie-controlled urban centers could have cascading effects as CRE valuations crater and lenders find themselves taking back collateral worth a fraction of its loan value.

    1. Property and sales tax revenues will crater even more than they already have. Not only will cities be forced to reduce their headcounts, there won’t be anything left to grift.

      2. , there won’t be anything left to grift.

        Say it ain’t so, you mean SF’s Repatriation Council might not happen and the plan to give every black adult a check for $5 MM in in jeopardy? NoI Iguess giving 15 Trillion for repatriation is gonna have to do. (about $450,000 or so)

        1. Financial Times
          Bitcoin
          Bitcoin price falls 16% following launch of ETFs
          Cryptocurrency drops below $39,000, defying expectations of gains after SEC ruling
          A sign outside the Nasdaq exchange in New York marking the launch of BlackRock’s bitcoin ETF, the iShares Bitcoin Trust, on January 11
          A sign outside the Nasdaq exchange in New York marking the launch of BlackRock’s bitcoin ETF on January 11
          Scott Chipolina in London 3 hours ago

          Bitcoin has lost 16 per cent of its value over the past two weeks, as some investors use the much-hyped launch of bitcoin exchange traded funds earlier this month to take profits and exit their holdings of the volatile cryptocurrency.

          The price of bitcoin sank as much as 3 per cent on Tuesday, falling below $39,000 for the first time since early December.

          The recent losses have unwound part of a huge rally late last year, which came amid fevered speculation that the launch of mainstream stock market funds tracking the world’s leading crypto token would draw in new investors to bitcoin.
          …

          1. Trading | On January 17, 2024
            $89,500,000,000 Asset Manager To Shut Down Bitcoin Futures Exchange-Traded Fund Days After Approval of Spot ETFs
            By Mehron Rokhy

            A financial services giant with nearly $90 billion in assets under its management is shutting down its futures Bitcoin (BTC) exchange-traded fund (ETF) just days after the U.S. Securities and Exchange Commission approved a slew of spot market BTC ETFs.

            According to a new press release, New York-based investment management firm VanEck says that it plans to close and liquidate the VanEck Bitcoin Strategy ETF, an exchange-traded product listed on the Chicago Board Options Exchange (CBOE).
            …
            https://dailyhodl.com/2024/01/17/89500000000-asset-manager-to-shut-down-bitcoin-futures-exchange-traded-fund-days-after-approval-of-spot-etfs

          2. I had to look this up. Van Eyck is closing this particular fund because it evidently doesn’t invest directly into Bitcoin. They expect investors to gravitate toward other funds.

    2. [Somewhat related to the above topic is this …]

      Colorado pastor accused of pocketing $1.3M in crypto scheme says ‘Lord told us to’

      More than 300 people bought INDXcoin, a cryptocurrency created by the pastor and marketed through his online church, which was deemed “illiquid and practically worthless.”

      https://www.nbcnews.com/news/us-news/colorado-pastor-accused-pocketing-13m-crypto-scheme-says-lord-told-us-rcna135143

      A Colorado-based pastor for an online church accused of pocketing $1.3 million through a cryptocurrency fraud scheme told followers in a video statement that the Lord told him to do it.

      Eli Regalado and his wife marketed their cryptocurrency, INDXcoin, to Christian communities in Denver, saying God told him people would become wealthy if they invested, the Colorado Division of Securities said in a statement Thursday.

      INDXcoin raised nearly $3.2 million, the Securities Division said. At least $1.3 million of that went directly to the Regalados or was “used for their own personal benefit,” said a complaint filed Tuesday in Denver County District Court.

      The Regalados could not be reached for comment. In a video statement to his followers last week, Eli Regalado said the charges that they pocketed $1.3 million “are true.”

      “Out of the $1.3 [million], half a million dollars went to the IRS, and a few hundred thousand dollars went to a home remodel the Lord told us to do,” he said in the video.

      The couple also allegedly spent their investors’ funds on a Range Rover, luxury handbags, jewelry, an au pair, boat rentals and snowmobile adventures, according to the complaint.

      The couple were charged with violating anti-fraud provisions under the Colorado Securities Act.

      Colorado Securities Commissioner Tung Chan said she filed the civil fraud charges after she was approached by people who invested and lost money through INDXcoin.

      “We allege that Mr. Regalado took advantage of the trust and faith of his own Christian community and that he peddled outlandish promises of wealth to them when he sold them essentially worthless cryptocurrencies,” Chan said in a statement.

      ‘Illiquid and practically worthless’

      Regalado claimed that God told him investors would become wealthy if they put money into INDXcoin, promoting it as a low-risk, high-profit investment pegged to the average value of the top 100 cryptocurrencies, the Securities Division said.

  14. “There is no denying now that China’s economy, the world’s second largest, is in deep crisis. China’s economy grew 5.2% in 2023, slightly above the official target, but the recovery was far shakier than many analysts expected, weighed down by the mounting local government debt and deepening property crisis.”

    Isn’t it interesting how a 5.2% growth rate in the US would be viewed as unsustainable and a sign of future inflation risk, while in China it’s a sign of deep crisis?

    1. China’s economy grew 5.2% in 2023, slightly above the official target

      So riddle me this, dictator Xi:

      If your economy is growing at 5%, and your birthrate has been in the dumpster for decades, why is your youth unemployment rate so high that you simply chose to stop reporting it?

      1. The youth all went to college for STEM. They all want management jobs. Nobody wants to work in a sweatshop making cheesy Christmas ornaments.

        1. Did they really all go to college? Being a centrally planned economy I’m sure that there were only so many seats allocated in China’s higher ed system.

    2. A 5% growth rate implies a doubling of economic activity in approx. 14 years. This is of course, highly suspect. Perhaps a few more ghost cities will do the trick.

      1. Given their economic priorities, they have to be counting construction of empty housing units towards growth.

    3. Since when does anyone believe the financial numbers coming out of Beijing? Traditionally, they’ve always been viewed as suspect. Well, except by A-dan.

    2. Is $6 trillion alot?

      if you’re a Democrat, then no, it’s not. If fact, we need to print/borrow and spend even more.

    3. Reuters
      Asian Markets
      What investors are saying about China’s market meltdown
      Reuters
      January 23, 20248:02 AM PSTUpdated 6 hours ago
      Investors sit in front of a board showing stock information at a brokerage house on the first day of trade in China since the Lunar New Year, in Hangzhou, Zhejiang province, China February 3,…

      Jan 23 (Reuters) – Stock markets in China and Hong Kong have slumped to multi-year lows this week as confidence in the world’s second-biggest economy has evaporated and foreign money has fled, while data showed sputtering growth and deepening real estate malaise.
      Here is what investors and market strategists have said about the selloff:

      DERRICK IRWIN, EMERGING MARKETS PORTFOLIO MANAGER, ALLSPRING:
      “Investors looking out into 2024 and anyone who would hope that the Chinese government would come riding to the rescue is re-evaluating that right now.

      Until there is a bigger crisis, the Chinese government may just continue to kind of throw cups of water on the fire instead of something big that they probably need to do.

      There is a degree of capitulation … at this stage, markets are not being driven necessarily by spreadsheets and calculations, but more on emotion and maybe technical issues.”

      MARKO PAPIC, CHIEF STRATEGIST, CLOCKTOWER GROUP:
      “Our argument is that at the financial work conference, which happened last week, policymakers came away with a renewed focus on financial sector regulation and the ongoing anti-corruption campaign, refocusing it towards the financial sector.

      From a Chinese investor’s perspective, the reason that this matters is twofold: First of all, it’s another major sector that’s going to be inspected with a heavy-handed regulatory approach. And the second issue is that you need the financial sector when the private sector is de-leveraging. You need banks to want to lend … more so than any other time.

      As a Chinese investor you (also) sit there and you’re like, wait a minute, if (the central bank is) not willing to cut 25 basis points we’re really far from any sort of a bazooka … they’re not even willing to fire a water pistol.”
      …
      https://money.usnews.com/investing/news/articles/2024-01-23/what-investors-are-saying-about-chinas-market-meltdown

  16. [Some Tuesday morning humor …]

    The Los Angeles Times plunges into ‘chaos’ as brutal layoffs loom and senior editors call it quits

    https://www.cnn.com/2024/01/23/media/los-angeles-times-layoffs-strike/index.html

    [The headline is not the humor I was referring to; The humor I was referring to is embalmed in this snip …]

    The cuts have come at a horrendous time. As antidemocratic candidates look to seize power in election contests from coast to coast, newsrooms are shrinking and simply trying to stay afloat.

    [ “antidemocratic candidates” I suppose the Times is referring to Donald Trump.]

    That lack of accountability means dishonest figures seeking higher office, and those in positions of power, could avoid crucial scrutiny, leaving the electorate less informed about the vital decisions it will have to make in November at the ballot box.

    That said, while painful cuts have become all too frequent throughout the industry, it’s still rare to watch in real-time as a news organization of The LAT’s stature see its leadership team come apart at the seams so visibly — particularly as staffers brace for even more agony.

    On Monday, 10 Democratic members of Congress …

    [“10 Democratic members of Congress”. I detect an absence of political balance.]

    … representing California wrote Soon-Shiong, expressing alarm over the planned layoffs, noting that during elections, “the role of news outlets in providing accurate and unbiased information …

    [“accurate and unbiased information”. LOL. We are talking about the Los Angeles Times here.]

    … becomes even more vital.”

    “Our community relies on the newspaper to stay informed about local and national events, and a reduction in reporters could have a detrimental impact on the quality of reporting,” the congressional leaders wrote. “Preserving democracy is contingent upon a free and robust press, and the LA Times has been instrumental in upholding this democratic principle.”

    “We urge you to consider alternative solutions that would allow the LA Times to navigate its financial challenges without compromising the integrity and strength of its newsroom.”

    In response, Soon-Shiong said he had invested hundreds of millions of dollars into the paper and suggested lawmakers should take action of their own to aid revenue-starved news organizations.

    “I’d like to put the question to them: What can they do to help preserve a free and robust press, one that is instrumental in upholding our democracy?” he wrote. “All we are asking for is the opportunity for our newspaper and hardworking journalists to be fairly compensated, and for the L.A. Times to have a fair chance to become a self-sustaining institution.”

    1. That said, while painful cuts have become all too frequent throughout the industry

      What this means is that the Left’s leadership understands that the usefulness of the MSM to them, especially newspapers, has become negligible and they are throwing their loyal servants under the bus.

      1. Those people live in a bizarre alternate reality.

        They do, but even in their make believe lala lands you need a paycheck.

  17. ** “According to a Wall Street Journal report, a real estate firm in Tianjin aired a video commercial with the tagline ‘buy a house, get a wife for free.”

    “uhh this is Carlton . . . your doorman. Your furniture has arrived. Do you want her to bring up the Soylent Green package also?”

  18. Immigration overtakes inflation as top voter concern: Poll

    https://thehill.com/homenews/campaign/4422273-immigration-overtakes-inflation-top-voter-concern-poll/

    More voters pointed to immigration than to inflation as a top policy concern in January, according to a Harvard CAPS-Harris poll released Monday.

    The survey found that 35 percent of respondents listed immigration as their paramount concern among an array of issues, with inflation in a close second, named by 32 percent of respondents.

    Immigration skyrocketed as an issue, jumping 7 percentage points in the list compared to the previous month’s poll.

    Immigration and inflation were followed by “economy and jobs,” listed as a top concern by 25 percent of those surveyed, while “crime and drugs” and health care were each listed by 16 percent of respondents, the deficit and national security each by 14 percent of respondents and corruption and the environment were each named by 13 percent of people surveyed.

    Yet, inflation was by far the most cited topic by respondents asked what issue affects them personally.

    Twice as many respondents, 38 percent, said inflation affected them directly, than the 17 percent who cited immigration. The number of respondents who said immigration impacted them directly grew by 3 percentage points from the previous survey.

    Crime and climate change were cited by 10 percent of respondents each as affecting them directly, while abortion and racial equity were each cited by 7 percent of respondents.

    The pivot to immigration mirrors both a political environment tuning into border policy as a core issue and a reduction in inflation that’s somewhat deflated the political clout of that issue.

    Both issues are at the tip of the Republican spear in attacks against President Biden, who is facing a reelection run with dangerously low approval numbers.

    According to the HarrisX poll, Biden’s approval in January held at 42 percent, stuck in a low-40s doldrum that’s been the norm for the better part of two years.

    That’s despite inflation objectively slowing from its year-to-year peak of 9.1 percent in June of 2022 to 3.4 percent in December, blunting that line of attack.

    Republicans and some Democrats — like big city mayors — have kept immigration in the headlines, communicating a sense of crisis that’s taken hold among a large segment of the population.

    And the GOP-established metric of success or failure in immigration, the number of monthly border encounters, has generally been accepted by the Biden administration.

    Although those encounters have remained high throughout the Biden presidency, they’ve also been more or less stable since fiscal 2022, when U.S. border authorities encountered migrants without prior authorization to enter the country 2,378,944 times.

    In fiscal 2023, officials reported 2,475,669 encounters, and the first reported numbers for fiscal 2024 show similar, if slightly higher, numbers in October and November. Homeland Security officials have said encounters lulled in January, though official numbers have not yet been reported, in keeping with expected seasonal fluctuations.

    But a broad majority of voters said they believe immigration at the border is a worsening problem.

    According to the poll, 64 percent of respondents said conditions at the border are getting worse, while 23 percent said they’re staying the same, and only 13 percent said conditions are improving at the border.

    The partisan split on the issue is broad, with 81 percent of Republicans, 68 percent of independents and 45 percent of Democrats saying conditions are worsening — 34 percent of Democrats said conditions are staying the same, while 21 percent said they’re improving.

    Additionally, 68 percent of respondents said the administration should make it tougher to get into the United States illegally, and 32 percent said current border policies should remain.

    Broad majorities of Republicans and independents — 85 percent and 71 percent respectively — want to see tougher border enforcement, but Democrats are split at 50-50 on whether they’d like to see that.

    Those numbers are a boon to bipartisan Senate border policy negotiators, who say they’re approaching a deal that’s been heavily criticized as tough-but-ineffective by immigration advocates and members of the Congressional Hispanic Caucus.

      1. They already are.

        Real journalists:

        Migrants
        Newcomers
        New arrivals

        Et cetera in every article that will never once use the term illegal, because Associated Press Style Guide.

        1. That’s already kind of stale. I’m think more along the lines of “What migrants? No one has been crossing the border! It’s all in your mind.”

          1. People watch TV and YouTube. They see those illegals pouring in. They also probably heard the “10 million” number and said, wait, 10 million is the ENTIRE population of Michigan! And that’s just the new ones!
            Where are they going to go? At some point they are definitely going to come to MY house…

          3. People watch TV and YouTube

            Heck, they’re telling people who can’t make ends meet that the economy is robust and everything is hunky dory. Any perception that you have of these being tough times is imaginary.

            And speaking of tough times, I’m hearing more and more from the grapevine that it’s getting very, very hard to land a non menial job these days.

          4. “And speaking of tough times…”

            Went out for breakfast with a few former co-workers. We asked for separate checks; my Denver omelette, hash browns and wheat toast was $27…before the tip! No wonder there were hardly any customers.

          5. as $27

            I can cook a steak dinner for two at home for less, and that includes a beverage.

            So the breakfast is stupidly expensive AND everyone has less discretionary income (many have none). A recipe for success.

        2. An arsonist in Fort Collins (who was finally caught) was burning cars left and right and then moved onto houses. After he was caught the only victims profiled in a news story in the Coloradoan were a Honduran invader family, who lost both their cars and had to move out of their damaged home (it was not clear if they were on Section 8). The article mentioned how they came to Fort Collins “seeking a better life”, which no doubt meant joining the Free Sh!t Army. It was heavily implied in the article that the arsonist chose them because of they are invaders.

  19. [Still another interesting/informative but non-housing related article …]

    The Winter of Our Discontent

    As we navigate through another winter season, it’s hard not to notice the ever-pervasive narrative of climate change influencing public perception. A recent Rasmussen Poll reveals a fascinating, albeit concerning, trend: while the majority of Americans report this winter being no worse than usual, a significant portion still believe climate change is exacerbating extreme weather. This finding, coupled with the shifting attitudes toward electric vehicles, paints a complex picture of public opinion and media influence.

    https://wattsupwiththat.com/2024/01/23/the-winter-of-our-discontent/

    The poll indicates that 38% of Americans feel this winter has been harsher compared to previous years, a slight increase from 30% in 2022. However, a noteworthy 50% don’t see any difference, and 12% remain unsure. Despite these figures, a staggering 59% believe climate change is likely causing more extreme weather, including severe snow storms.

    It’s essential to approach these findings with a critical eye. The correlation between personal experience and belief in climate change’s impact raises questions about the influence of media and societal narratives. Among those convinced of climate change’s role in extreme weather, nearly half report a worse winter experience, contrasting sharply with those skeptical of this connection.

    The poll also sheds light on demographic differences. More women (63%) than men (55%) lean towards believing in climate change’s impact on weather severity. Younger adults, particularly women under 40, show a higher tendency to attribute extreme weather to climate change, compared to their older counterparts.

    Interestingly, perceptions vary across economic and racial lines. Higher-income individuals appear more likely to believe in climate change’s role in extreme weather. In contrast, less than half of those earning under $30,000 a year share this belief. Racial differences also emerge, with varying degrees of belief across different groups.

    “Forty percent (40%) of whites, 33% of blacks and 37% of other minorities say this winter has been worse where they live than it has been in past years. Fifty-seven percent (57%) of whites, 71% of blacks and 61% of other minorities think it’s at least somewhat likely that climate change is causing more extreme weather.”

    Another intriguing aspect of the survey relates to electric vehicles (EVs). Despite significant promotion and investment in EVs, public enthusiasm seems to be waning. Only 29% of Americans consider an EV for their next vehicle, a notable decrease from 40% last year. This shift could reflect a growing recognition of the practical limitations and economic implications of EVs, contrary to the idealistic portrayal often seen in media and political discourse.

    This brings us to a critical point: the gap between perceived and actual climate realities. The consistent belief in worsening winters, despite contradictory personal experiences and historical data, suggests a powerful narrative at play. One must question the role of media, education, and political rhetoric in shaping these perceptions.

    Furthermore, the decline in interest in electric vehicles might indicate a growing skepticism towards solutions presented as panaceas for climate change. The public seems to be recognizing the complexities and trade-offs involved in such technologies, moving beyond the initial enthusiasm driven by idealistic portrayals.

    1. Furthermore, the decline in interest in electric vehicles might indicate a growing skepticism towards solutions presented as panaceas for climate change.

      Or maybe people just can’t afford them and have heard too many horror stories from those who did buy one.

  20. What happened to the biden administration order last Wednesday when they demanded that the Texas State national guard to step down or on Thursday the Federal Government border patrol (DHS) would intervene. AFAIK it’s a standoff right now. We going all out Civil war here?

    1. A standoff works for Texas, because it means the concertina wire won’t be cut or removed. And I don’t think the Border Patrol has the stones to make a move. Plus local sheriffs are on the guard’s side.

      I guess Joe will have to send in F-15’s or something.

  21. Personal Finance
    ‘Housing affordability is reshaping migration trends,’ economist says. Here’s where people are moving
    Published Tue, Jan 23 2024 10:20 AM EST
    Ana Teresa Solá

    KEY POINTS

    – Residents from major cities across the country are increasingly moving to Southern and Midwestern cities where housing costs and competition are less severe, and where construction is keeping up with the demand, according to a recent Zillow report.

    – “Housing affordability has always mattered…and you’re seeing it across the country,” said Orphe Divounguy, a senior economist at Zillow.
    …
    https://www.cnbc.com/amp/2024/01/23/10-metros-where-people-are-moving-for-affordable-housing-good-jobs.html

  22. Peter Schiff: The Dark Ages for US Housing and Manufacturing

    JANUARY 22, 2024 BY SCHIFFGOLD 0 6
    The president touted a manufacturing renaissance. However, economic indices show US manufacturing entering a Dark Age. Home sales are not looking bright, either.

    Peter explains in his recent podcast:

    “The people who want to buy them can’t afford to buy them because they can’t get those rock-bottom mortgage rates. Even though mortgage rates have come down, they’re still not low enough for them to afford the prices that the existing homeowners want.”

    https://schiffgold.com/peters-podcast/the-dark-ages-for-us-housing-and-manufacturing/

    1. This is why they don’t care if we ridicule them. This no talent hack is already a millionaire. By this time next year her net worth will be even higher, because she is a “savvy investor”

  26. ‘Property values declined last year in many rural Maine towns and some surprising ones’

    It’s a long time coming and this isn’t the first report, but even trendy Maine is sinking like a turd in a well.

    1. trendy Maine

      What is trendy about Maine? That “Murder She Wrote” was supposed to be based there?

  27. ‘churning out bogus diplomas like ‘puppy mills’…’sham commerce degrees or business degrees that are sitting on top of a massage parlor that someone doesn’t even go to and then they come into the province and drive an Uber’

    You guys are running a real mickey mouse operation Marc.

  28. ‘began redeveloping the tower into more than 200 flats in 2019 after purchasing the tower and the adjoining Grade II-listed Segas House in 2017. However, the redevelopment came to an abrupt halt in 2020 and the sole remaining trace of work on the tower is the scaffolding that still encases it today…They say they often get no passing trade throughout the day. One of those shop owners, Moshin Akbary, said: ‘It’s a dead place. The dilemma is that the company who were going to develop it is now not doing anything with it’

    It keeps happening Moshin, year after year. These real estate guys get their tail in a crack and boom, they bail. Nice photos with this one.

  29. Quote from the article about the Broomfield arena:

    “Its demise has many causes, from a taxing district plan that failed to live up to expectations…”

    The same is coming soon to Las Vegas. The tax district to pay back the bonds for the new baseball stadium is limited to the grounds of the stadium itself.

    1. from a taxing district plan that failed to live up to expectation

      I think they are talking about the “Arista” neighborhood that is adjacent to the arena. While it looked upscale the place always looked dead if there wasn’t an event in the arena.

  30. Toronto Real Estate Market Update – Be Careful Where You Get Your Advice From (Jan 17, 2024)
    Team Sessa Real Estate
    24 minutes ago

    In this episode we take a look at the current Toronto Real Estate detached home prices and market trends for week ending January 17, 2024. We also discuss the current market and why you should be careful who you listen to. Buyer’s are back out and shopping for properties and some agents are reporting that the frenzy is back and now is a good time to buy or sell but that isn’t the whole truth. Buyer’s are back, there is definitely an uptick in activity but it doesn’t mean things have gone crazy again. Many of these buyers are being much more cautious when shopping now.

    https://www.youtube.com/watch?v=-8QwU8gWdws

    15 minutes.

  31. Bombshell Audio: GOP Official Caught Trying to Bribe Kari Lake Not to Run for Senate

    by Jamie White
    January 23rd 2024, 5:09 pm

    Arizona Republican Party chair Jeff DeWit can be heard in a 10-minute audio clip asking Lake to name a price to stay out of politics for two years on behalf of “powerful” Washington interests.

    “There are very powerful people who want to keep you out,” he tells her in a conversation recorded in March 2023. “But they’re willing to put their money where their mouth is in a big way.”

    Lake pushed back, saying, “This is crazy though. They should want me. I’m a great candidate. People love me. These people are corrupt.”

    “Well, maybe you’re right,” DeWit agreed. “If you say no, it’s fine, it’s your choice. Don’t tell people.”

    Lake said these “corrupt” people in question are going to “try to have me murdered.”

    “It’s about being on the team. They want you to be on their team,” DeWit argued.

    “But if they’re pushing a globalist agenda, I can’t do that,” Lake replied.

    “The ask I got today from back east was: ‘Is there any companies out there or something that could just put her on the payroll to keep her out?’” he explained.

    Lake indignantly shot down DeWit’s proposal.

    “This is about defeating Trump and I think that’s a bad, bad thing for our country,” she said. “If they’re going to steal the election to make me and our movement go away, I’m not letting them do that.”

    DeWit, who was chief operating officer on Trump’s 2020 campaign then framed it differently, asking her what dollar amount she would accept to bow out.

    “Just say, is there a number at which….” he began before Lake cut him off.

    Grace Chong 🇺🇸
    @gc22gc

    FULL AUDIO

    Grace Chong 🇺🇸
    @gc22gc
    ·
    8h
    ·
    🚨AZ GOP CHAIRMAN @JeffDeWitAZ TRIED TO BRIBE KARI LAKE twitter.com/nancygo2243237…
    3:46 PM · Jan 23, 2024
    ·
    2.6M
    Views

    https://x.com/gc22gc/status/1749896383845597580?s=20

Comments are closed.