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The Monopoly Game Came To An Abrupt End With The Turnaround In Interest Rates

A report from Barron‘s. “Plenty of home owners didn’t put out For Sale signs last year as rising mortgage rates shook the housing market. With a brighter outlook now, there are signs that sellers are trickling back. In Seattle, ‘it almost feels like someone just turned a switch,’ says Compass agent Julian Michael Aguirre. Buyers and sellers are coming off the sidelines, he says. More than 3,550 homes were listed for sale in the Seattle metropolitan area in February, Realtor.com data show, up about 42% from the roughly 2,500 homes listed the same month last year. It isn’t just Seattle: The number of listings new to the market in February were higher than year-ago levels in all but six of the nation’s 50 largest metropolitan areas, according to Realtor.com data.”

Palm Beach Post in Florida. “Palm Beach’s real estate market saw another substantial price cut last week when the price of a new, never-lived-in house at 584 Island Drive dropped by about $5.5 million to $34.5 million. The six-bedroom house on the east side of Everglades Island in the Estate Section was priced at $39.999 million when it was listed for sale in mid-January as construction was drawing to a close. Overall pricing in Palm Beach has been complicated by the effects of the pandemic-fueled real estate boom, which reached its height in early 2022 and sent home values and asking prices into the stratosphere. Many buyers and sellers, agents and brokers agree, are still struggling to come to a meeting point where prices are concerned.”

“In all, 18 single family houses and 24 units in the condominium-and-cooperative segment were under contract, while another six potential condo sales are in the ‘contingent’ phase, the search showed. So no one should be surprised if more properties undergo asking-price reductions in the coming weeks. And those figures don’t include any off-market transactions that may be brewing. One last note: Of those 18 single-family homes under contract in the MLS, 10 have had their asking prices reduced since they were first listed.”

The New York Post. “New York’s most expensive one-bedroom apartment has allegedly turned into the city’s priciest money pit — as the new owners of the $6.1 million Fifth Avenue digs have filed a lawsuit claiming the place is riddled with problems, the Post has learned. John Goodman and his wife Diane say they bought the 1032-square-foot condo in December because of the building’s many bougie amenities. But they said the lux pad turned out to be a high-priced mess. ‘I paid full asking price. But I didn’t get what I was promised,’ owner John Goodman told the Post.”

From USA Today. “A labor market that was still soaring a year ago has become less hospitable to job seekers. Companies are warier about hiring amid high interest rates and wages. Workers are vying with more job candidates for fewer openings, forcing them to send in more applications. And a large share of employees are jittery about getting laid off. ‘Because the real estate market is so slow now, I need to see the demand before I hire more, expensive staff,’ says Scott Ford, president of California Builder Services. Because of high interest rates that have discouraged homebuilding, sales have been flat at the Fresno area company, which sets up homeowner associations for developers, Ford says.”

“Molly Dotson, 33, a sales account executive in San Diego, says she applied for about 200 jobs over six months before finding a position. Dotson had worked for a start-up tech company that hired quickly and then over a year, laid people off. She was let go in the third wave in August. ‘When I started looking, I was shocked to find not only to find a dearth of actual positions open but just an insanely competitive market,’ Dotson says. ‘There was a purple-striped unicorn for every’ opening, she said, meaning hiring managers said there was a better candidate with specific experience in that particular role. ‘No matter how much self-worth and confidence you’ve got, the doubt creeps in after serial rejections.'”

The Express News in Texas. “The trustee for bankrupt San Antonio mortgage lending firm New Opportunities Inc. — accused of being a Ponzi scheme while incurring more than $25 million in losses — has struck a deal to end litigation with its two principals. New Opportunities’ Terry A. Cleveland, a certified public accountant who served as president, and James W. Hale, a lawyer and company vice president, have agreed to pay the bankruptcy estate $704,180 as part of the settlement. In exchange, the trustee has agreed to release all claims against the pair. The deal requires approval from a bankruptcy judge. It’s possible that creditors in the case — 172 people who invested millions in New Opportunities — could object to the settlement, which represents pennies on the dollar for the $31 million in claims they hold.”

The Globe and Mail in Canada. “An Ontario real estate developer has unleashed a deluge of litigation against dozens of buyers of preconstruction homes who allegedly defaulted on purchases in a Windsor-area subdivision. Starting in November 2022, Coco Developments Ltd. filed more than two dozen claims related to houses it built at the River Ridge Estates project in Lakeshore, Ont., just east of Windsor. The claims describe preconstruction sales in the late summer and fall of 2021 followed by failures to close and complete transactions in the fall and winter of 2022. According to the court documents, most of the buyers are not local to Windsor, with addresses mainly in the Toronto region.”

“According to Mark Morris, a real estate lawyer with Legalclosing.ca, the lawsuits are a sign of a burgeoning issue in the new-build home market where more buyers are unable to find anyone to take over their contracts (known as an assignment sale), some buyers can’t afford to complete the transactions and more developers are turning to litigation to recoup losses. ‘This was at first an individual issue, but it’s becoming more systemic,’ Mr. Morris said. ‘Builders that are facing five or six failed closings are turning to their only recourse, to see if, in fact, there’s any money in ‘them thar hills.’”

“The damages sought in each claim begin with the $40,000 deposit buyers placed for detached homes that ranged in price from $850,000 to $970,000. But the final damages could end up being much higher. ‘You don’t just lose your deposit if you walk away from any real estate deal – you can lose everything,’ said David Feld, a real estate lawyer with Feld Kalia Professional Corp. According to property records, many of the homes in the claims have been listed for sale but few have been successfully resold.”

From Boersen Zeitung. “In the second week of March, four large listed residential property groups from Germany will report on their 2023 financial year. In addition to critical operating figures such as rental income and funds from operations, the focus will be on the performance of the portfolio and debt. After years of ultra-low interest rates, the cost of new financing has shot up. At the same time, the risk aversion of potential lenders has increased. The higher the debt ratio, the more difficult it is to access loans. The bond market, a key source of funding for property companies, has been closed to the vast majority of companies since autumn 2022.”

“In the years of low-interest rates, constantly rising portfolio valuations enabled the sector to enjoy an unexpected boom. This is because the vital indicator for lenders is debt in relation to property assets, not the absolute amount of liabilities. The higher valuations, therefore, created more and more room for manoeuvre, which Vonovia, in particular, but also other players, used for numerous acquisitions. Notably, equity also climbed through the retention of book profits. The monopoly game came to an abrupt end with the turnaround in interest rates. What’s more, it turned into the opposite. Falling stock values increase the level of debt. As a result, practically all large landlords are trying to sell flats in order to keep their loan-to-value in check and build up a liquidity cushion. In doing so, they want to demonstrate financial freedom of action to the capital market. According to the motto: We are not under pressure.”

“The Kiel Institute for the World Economy considers the current price reductions to be ‘historically unprecedented.’ Never since the expert committees began collecting purchase prices in the 1960s have house prices in Germany fallen so quickly. The discounts for multi-family houses are around 20% over the year. It is, therefore, clear that the significant housing groups will continue to report falling portfolio values as of 31 December 2023. The Swedish landlord Heimstaden, which also owns flats in Germany, has already announced write-downs totalling billions – and lost around 40% of its share price in two days.”

From Reuters. “Hong Kong’s property agents expect more big-ticket foreclosures this year as landlords struggle to refinance, and that receivers will speed up sales after the city’s recent measures aimed at bolstering the depressed real estate market. CBRE said on Thursday it had been appointed by the receiver to sell an old four-storey residential building in Kowloon, while another agent, Savills, said it had been appointed by the receiver to sell two connected industrial buildings.”

“‘We’ll continue to see many foreclosures this year as landlords fail to negotiate new terms with the lenders after years of poor market and high interest rates,’ said Churchill Keung, CBRE Hong Kong capital market assistant manager. Hong Kong, one of the most expensive property markets in the world, has seen its housing and commercial property prices plunge more than 20% and 30%, respectively, from their peaks. The residential building that CBRE was appointed to sell was seized by creditors this year. It is valued at HK$42 million ($5.37 million), half of its asking price in 2022 when the original owner, the family of deceased property investor Tang Shing Bor, put it on the market.”

Business Insider. “Several years in, China’s prolonged real-estate slump has been well documented, but the landscape may be about to deteriorate further as construction enters a deeper correction, Capital Economics said in a note Wednesday. ‘A variety of approaches suggest that a sustainable level of residential construction activity is about half of what’s underway today, given China’s demographics and its need to replace aging housing stock,’ strategists wrote, adding that ‘property construction still has a long way to fall.’ Since peaking in 2022, floor area under construction has slipped by a mere 3%, as shown in the chart below. ‘The drag from the unavoidable structural decline in China’s property sector has only just begun,’ the strategists said.”

“Much of the infrastructure investments are financed by local governments that face diminishing returns and other financial headwinds. Capital Economics said demographic challenges including a falling population and stalling urbanization suggest weaker property demand in the years ahead. ‘In sum, while property sales and project starts have collapsed, and many developers have been driven into bankruptcy, the full impact of China’s property crisis on real economic activity has not yet been felt,’ Capital Economics strategists said.”

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This Post Has 56 Comments

  1. ‘they said the lux pad turned out to be a high-priced mess. ‘I paid full asking price. But I didn’t get what I was promised’

    Yer a chosen one John.

  2. ‘A variety of approaches suggest that a sustainable level of residential construction activity is about half of what’s underway today’

    They don’t need to build the unfinished airboxes, they should start tearing them down.

  4. ‘The trustee for bankrupt San Antonio mortgage lending firm New Opportunities Inc. — accused of being a Ponzi scheme while incurring more than $25 million in losses — has struck a deal to end litigation with its two principals…The deal requires approval from a bankruptcy judge. It’s possible that creditors in the case — 172 people who invested millions in New Opportunities — could object to the settlement, which represents pennies on the dollar for the $31 million in claims they hold’

    Senator running dear heap angry!

  5. First world problems bitc.hez

    The issues for the Goodmans at the fully furnished, “turn-key,” residence also included missing items, such as only two placemats for their tableware serving for six.

    Goodman thought that problem would be easy to fix.

    “When I asked, they said they’d sell me four more, at $100 a placemat,” Goodman said.

    The four placements were eventually delivered without charge earlier this month, he said.

  6. “Molly Dotson, 33, a sales account executive in San Diego, says she applied for about 200 jobs over six months before finding a position. … ‘No matter how much self-worth and confidence you’ve got, the doubt creeps in after serial rejections.’”

    Been there, done that, hunting for work in a slow labor market. Good on her for staying the course!

    2. Unemployment Casts a Shadow Over California’s Economy

      Tech layoffs, fallout from Hollywood strikes and an uptick in rural joblessness challenge a state with one of the nation’s highest unemployment rates.

      A view along Hollywood Boulevard, including Grauman’s Chinese Theater.
      After the entertainment industry strikes last year, many workers in Hollywood and its tangential industries still haven’t found full-time work.Credit…Philip Cheung for The New York Times
      By Kurtis Lee
      Reporting from Los Angeles
      March 1, 2024

      For decades, California’s behemoth economy has outpaced those of most nations, holding an outsize role in shaping global trends in tech, entertainment and agriculture.

      While that reputation remains, the state has a less enviable distinction: one of the nation’s highest unemployment rates.

      Nationwide, the rate is 3.7 percent, and in January, the country added 353,000 jobs. California’s job growth has been slower than the nationwide average over the last year, and the unemployment rate remains stubbornly high — 5.1 percent in the latest data, a percentage point higher than a year earlier and outpaced only by Nevada’s 5.4 percent.
      …
      https://www.nytimes.com/2024/03/01/business/economy/california-economy-unemployment.html

      1. “…5.1 percent in the latest data, a percentage point higher than a year earlier…”

        (5.1-4.1)/4.1 = 24.4% increase in one year. Is that alot?

      1. Buyers became “supply chain specialists”
        Programmers became “software engineers”
        etc.

  7. What is the state of the Union?

    An unelected, illegitimate, occupation regime that has debased the currency, flooded the country with 10+ million illegals, gives more rights to criminal invaders than U.S. citizens, $34 trillion national debt (and growing), and has effectively stolen the future from its young people.

    And btw, her name was Laken Riley, your hands are dripping with her blood, globalist vermin.

      1. Body double? I think you meant brain double. There isn’t any real thought left in that husk.

      1. Do you have any sources or evidence for this, or is this just speculation? I’m not disbelieving you; I would be interested in reading any interviews or first-hand accounts of polls or news stories or something on this.

  8. Housing?

    Why yes, you are being replaced.

    Denver property owners asked to rent to migrants (3/6/2024):

    “Denver is hosting fewer migrants in shelters, and now the city is asking property owners if they are willing to rent those who need a place to live.

    “We put out a feeler to all the landlords we have connections with,” said Jon Ewing, with Denver Human Services. “Basically said, listen, we’re going to have some newcomers who are going to need housing.”

    They’re not newcomers. It is a deliberate, coordinated replacement of the native U.S. population.

    “A recent email sent to Denver rental property owners asked if they would be interested in renting to migrants who need housing.

    “We’ve got kind of a rent cap — $2,000,” Ewing said.

    The effort is being spearheaded by entities beyond the city of Denver.

    “The nonprofits already have connected folks with all kinds of housing, all over Denver,” Ewing said.

    https://kdvr.com/news/local/denver-property-owners-asked-to-rent-to-migrants/

    1. Denver job fair helps connect hundreds of newly arrived immigrants with employers (3/6/2024):

      “Hundreds of immigrants who have obtained work permits attended a job fair in Denver on Wednesday aimed at connecting them with more than a dozen employers who are looking to hire.

      The event was a joint effort between Emily Griffith Technical College, the Colorado Office of New Americans and the Spring Institute. Around 600 immigrants attended Wednesday’s job fair at Emily Griffith Technical College.”

      Colorado Office of New Americans?

      Sounds like an Anti Defamation League and Southern Poverty Law Center kind of thing.

      “Specifically those who have recently gotten work authorizations — Venezuelans, Central and South Americans,” said Ryan Yates, who is the dean of English and adult education at Emily Griffith Technical College. “They are unsure of how to navigate our employment systems. They may operate differently in their country. They may not speak English perfectly. So we have interpreters here, we have volunteers helping with the application process.”

      https://www.denver7.com/news/front-range/denver/denver-job-fair-helps-connect-hundreds-of-newly-arrived-immigrants-with-employers

      If you waited 5+ years to immigrate to the U.S. legally, big fat middle finger for you.

    2. “Basically said, listen, we’re going to have some newcomers who are going to need housing.”

      Translation…

      We’ve flown in tens of thousands of invaders and we are willing to pay you top dollar to rent your houses and apartments to them at taxpayer’s expense.

    3. “We’ve got kind of a rent cap — $2,000,” Ewing said.

      Who is paying for this? Is the city of Dumver going to be cutting more services and -gasp- begin laying off union goons?

    4. Fox News has a story on this too. A lot of commenters are asking intelligent questions like: Will the City of Denver guarantee rent for a certain time period? If the City cuts the contract the the illegals refuse to leave, will the City provide eviction services, or will the illegals have squatter’s rights? What about insurance, or damages? Are these newcomers vaccinated per mandate? How many families has the Mayor of Denver taken in to his private home?

      I don’t think Denver will get many takers.

    5. “Basically said, listen, we’re going to have some newcomers who are going to need housing.”

      If you want your rental to end up trashed, then by all means agree to rent to these people. And don’t be surprised if there is an eviction moratorium when the free money runs out, because these people will never pay a penny from their own pockets. They are communists and expect everything to be free.

  9. ‘I paid full asking price. But I didn’t get what I was promised,’ owner John Goodman told the Post.”

    Yeah, and I legit won that stuffed toy at the traveling carnival booth, but I’m not sure it was worth the $2,700 I spent on the attempt.

    1. “…one-bedroom apartment…” “….$6.1 million Fifth Avenue digs…”
      “…Diane say they bought the 1032-square-foot condo in December because of the building’s many bougie amenities…”

      I would like to see a list of all those “bougie amenities” that $6.1M buys + HOA + property tax + maintenance.

      Can’t even imagine what they would be, anyone with a guess?

      Bottom line, guests still have to sleep on the couch, is that considered a WOK bougie?

  10. ‘This was at first an individual issue, but it’s becoming more systemic,’ Mr. Morris said.

    All together now: “No one could’ve seen this coming.”

  11. Hong Kong, one of the most expensive property markets in the world, has seen its housing and commercial property prices plunge more than 20% and 30%, respectively, from their peaks.

    As the CCP tyrants in Beijing increase their grip over Hong Kong, while breaking every promise they made to the UK when they took over the territory, property prices are going to plunge a lot further.

  13. Goodbye America! A quarter of US adults want their state to secede –

    Texans, Californians, and New Yorkers are closest to the exit, but can YOU guess which state wants out the most?

    Efforts to bust out of the union are gathering steam from California to Texas

    Connecticut is the most content state, with only 9 percent wanting to exit

    https://www.dailymail.co.uk/news/article-13165371/Goodbye-America-voters-want-state-secede-union-Texas-California-New-York-Alaska.html

    Calls for Texas to secede from the US are growing louder, with advocates saying it could then stop migrant flows from Mexico without being hamstrung by the federal government.

    The Lone Star state may have the country’s noisiest secessionist movement, but it is not the most popular.

    That label goes to Alaska, a new survey shows.

    Researchers found that more than a third of Alaskans — 36 percent — want the Last Frontier to call it a day and leave the union.

    That’s a more popular movement than the 31 percent of residents who seek a ‘Texit,’ as the departure of Texas is known.

    It’s not just Republican-leaning states that want out, says pollster YouGov.

    Democrat-run California and New York are next in line to abandon ship, with 29 percent and 28 percent of residents favoring secession, respectively.

    Oklahomans (28 percent), Nebraskans (25 percent), Georgians (25 percent), Floridians (24 percent) and Washingtonians (24 percent) are also eyeing the door.

    At the other end of the spectrum is Connecticut, with just 9 percent of its relatively content residents seeking an out.

    Pollster Taylor Orth said last month’s survey of some 35,000 adults revealed ‘significant support’ for carving up the country.

    Nationwide, 23 percent of respondents said they wanted their state to opt out.

    About half (51 percent) opposed secession, and 27 percent were unsure.

    Paul Roberts, a Seattle Times writer, said the secessionist star was rising.

    He put this down to ‘political polarization, rising urban-rural tensions and rifts between states … and the federal government on issues like immigration and border security.’

    Younger adults are keener on secession than their elders, researchers found.

    And Republicans are bigger fans of splitting than Democrats — regardless of whether they live in Red or Blue states, Orth wrote in her report.

    The states with the largest shares of secessionists don’t relate directly to politics, it said.

    It’s more to do with a state’s size, population, and maybe even its economy, researchers said.

    Secessionist-leaning Alaska, Texas, California, and New York all rank high in terms of population and land mass.

    They also have enough economic clout to be able to go it alone — apart from Alaska.

    Still, the Last Frontier already has enough oil and mining cash to pay residents more than $1,300 each per year.

    The state’s influential Alaskan Independence Party has for decades pushed for an in-state referendum, while calling for gun rights, homeschooling, small government and fighting against abortion.

    But popular support alone is not enough for states to secede — as was shown by the breakaway Confederacy in the Civil War.

    Many legal scholars say the US Constitution does not allow states to opt out.

    The pollster found that Americans were less certain of this.

    About a quarter said states could secede under the Constitution, while a third said they could not.

    Another four-in-ten were not sure.

    Texas Republicans are among the most passionate secessionists in the US — fully 44 percent of them support Texit.

    Its advocates say the dramatic move — loosely inspired by Britain’s Brexit from the European Union — would help resolve a roiling immigration border crisis and a fight with Washington over who controls the border with Mexico.

    That fight, pitting President Joe Biden, a Democrat, and Republican Governor Greg Abbott, has laid bare a rupture in America.

    Daniel Miller, president of the Texas Nationalist Movement, says leaving the union is the only way to get a ‘sensible immigration system.’

    He recently told AFP that his movement, created in 2005, has never been so close to achieving its goal.

    But Abbott poured cold water on the plan this weekend.

    Speaking with 60 Minutes, he said claims that he was a Texit fan were ‘false narratives.’

    His deployment of Texas National Guardsmen to the border was not an effort to usurp the federal government, but just a way to ‘enforce the law,’ he added.

    1. I’d like to see Southern Colorado secede and re-join Texas.

      Let Denver rot and collapse, that’s a city without a future.

  14. The Monopoly model is based on destruction of your competition, no different than a military force destroying the emeny.
    The One World Order with all its co- conspirators have revealed a plan to elimate all competition and subject Countries and their populations to a One World Order of forced enslavement of humanity, and control of all resources and consumption.
    A end game of the elimination of human freedoms, Representive Goverments, Constitutional protections for a forced global dictorship under a blueprint of UN 2030 Sustainable earth agenda.
    It’s no different than a military force taking land, resources, and enslaving or killing the captured enemy.
    The justification for the One World Dictorship are fraudulent narratives of contrive global Panademics and Climate Change Doomsday emergencies .
    It’s a global takeover of the planet by the capture of the bulk of global governments to collude with this Money Monopoly group and their Co conspirators like the UN and the WHO.
    They are saying that Monopoly Corporations, Rich Elites, Banks, Big Pharmacy, the UN and WHO, and other co conspirators should rule the World in a partnership with captured and infiltrated Global Governments. All technology, including the release of AI and Robots , is to be used for the objectives of this One World Order partnership they call ” Stakeholder Capitalism” ” Global Goverance” “UN 2030 Sustainable Earth Agenda”, whatever you want to call it.
    They have revealed their end game plan for humanity.
    You will own nothing, eat bugs, enslaved in 15 minute cities, no freedoms or Constitutional protections, 24/7 surveillance, hacked and forced to take mandated vaccines, they control earth resourses, and consumption where technology is used to control human populations.
    They will control all information, and censor or eliminate any free speech, for their Monopoly control on their fraudulent narratives.
    JOE Biden said the USA should ” lead in the One World Order”, and all his treasonous acts have been in advancing the One World Order takeover.
    Genocide or depopulation is part of the Agenda of these psychopaths, as is evident by the Covid 19 assault on World, and fake killer vaccines deployed globally.
    Removal of co2 as the solution to ” global warming” is a Scientific fraud, just as fake MNRA vaccines was a Scientific fraud, that wasn’t safe or effective.
    Attack on parental rights for this assault on minors for sex altering, is one of the more bizarre manifestations of this power grab, along with discrimation and abuse and brainwashing of minors in schools.
    The One World Order will use any ideology to divide and conquer, communism or facism, racism or false emergencies or whatever, to get to just lawless brute power on a global scale.
    Seriously, Banks forcing digital currency to control consumption where they monitor your Social credit score. Governments forcing mandated fake poisonous new technology killer vaccines, with immunity to Big Pharmacy for manufacturing this mass genocide by vaccine.
    Increase in crime, with no relief to the victims of this lawlessness.
    Deliberate unvetted invasion of US borders, which is a One World Order warfare to destroy Countries .
    John Kerry said at last Davos meeting that, ” no government can stop “, what he called ” Market Forces. ” So Market forces rule the globe.
    So that’s a fancy word for private party WEF Monopoly Corporation, Rich Elites, Royalty, Banks, Big Pharmacy, AI technology, UN and WHO, other co conspirators infiltrating global governments to force a dictorship by these One World Order psychopaths.
    So, governments won’t stop them because governments are colluding with them.
    So, just saying all this insanity is a pre planned power grab takeover of globe by a small group of deranged psychopaths that want to destroy their competition, the human race.

  15. [This non-housing related article is over-loaded with stupidity.]

    Amid explosive demand, America is running out of power.

    [Imagine that. The solution, of course, is to build even more windmills and solar cell plants. (A bit of sarcasm is to be found here.)]

    https://www.msn.com/en-us/money/companies/amid-explosive-demand-america-is-running-out-of-power/ar-BB1jtM69

    [The following statement heads my list for stupidity:]

    “Microsoft has also inked a deal to buy power from a company trying to develop zero-emissions fusion power.”

    [“Fusion power”. Good luck with that. We are still ten years away from the development of fusion power. (More sarcasm; For decades we have been ten years away from the development of fusion power.]

    [This article is too long to post in its entirety. I suggest interested readers hit the link (and perhaps the bars).]

      1. Silver is a byproduct of copper mining. Copper production goes up or down with construction of buildings or manufacturing facilities and motors. Could be interesting times.

  19. Eggs went up 100 % in just two days.
    Beef and milk because of the Texas fires soon to skyrocket in price. Probably cheese products will go up also.
    Just saying maybe you might want to stock up while the getting is good.
    Also on TV news they had a story about a German guy who took 217 COVID shots. They claim he was tested and he was healthy and had a lot of antibodies against Covid.
    I think this is a bogus fake news article to make people think that taking the fake vaccines, no matter how many, is safe and effective.
    They are now up to about 10 shots total that have been recommended by the Health Authorities, still claiming “safe and effective”.
    There is a serious drop in the public wanting to take these shots, along with other vaccines. The fact that the vaccinated still got Covid, still transferred Covid, and millions died and had vaccines injuries as evident by Excess Mortality and disabilities data globally , they still are pushing this lethal poison failed technology on humans.
    Oh, death and injury is rare, because they changed the definition of what ” rare ” is. The excess death and disability that is evident is a Black Swan event that can only be characterized as warfare launched on targeted populations of the globe.

  20. ‘According to Mark Morris, a real estate lawyer with Legalclosing.ca, the lawsuits are a sign of a burgeoning issue in the new-build home market where more buyers are unable to find anyone to take over their contracts (known as an assignment sale), some buyers can’t afford to complete the transactions and more developers are turning to litigation to recoup losses’

    This is the same preconstuction condo flipping that blew up so spectacularly in the 2000’s. Small deposits, no loan approve yet, and hundreds of FB’s who ere expecting to flip before the build was done. Meaning they never had the ability to actually pay for the thing.

  21. How the hell long has this been going on? My husband (75 yo) fell and hurt his back. Ambulance, hospital, performed kyphoplasty, still in pain. Released with electronically ordered drugs for home, including 5 day supply of 3 a day 5mg oxycodone (big deal 😏.) I didn’t look at the list, and was charged $48 for one, thought it was for his usual script for an inhaler. Get home and find it was for Naloxone. I think it was because at one time he mentioned that he might be drinking alcohol more frequently (due to prior back pain) and discussed it with his doctor. I’m going to end up throwing this sh!t out, because they won’t take it back 🤬 and we have no use for it. So mad. Legit use of painkillers means you’re a junkie bc some people can’t handle it. They do have my sympathy, but this is so ridiculous. Watch what you tell your doctor.

  22. ‘In the years of low-interest rates, constantly rising portfolio valuations enabled the sector to enjoy an unexpected boom. This is because the vital indicator for lenders is debt in relation to property assets, not the absolute amount of liabilities. The higher valuations, therefore, created more and more room for manoeuvre, which Vonovia, in particular, but also other players, used for numerous acquisitions. Notably, equity also climbed through the retention of book profits. The monopoly game came to an abrupt end with the turnaround in interest rates. What’s more, it turned into the opposite. Falling stock values increase the level of debt. As a result, practically all large landlords are trying to sell flats in order to keep their loan-to-value in check and build up a liquidity cushion. In doing so, they want to demonstrate financial freedom of action to the capital market. According to the motto: We are not under pressure’

    Congrats on the motto Fritz, but I could print that and hang it on the wall as a classic mania description.

  23. You’re Losing Big Money On Renovations (Vaughan, Richmond Hill, Markham Real Estate Market Update)
    Team Sessa Real Estate
    52 minutes ago

    In this episode we take a look at the current Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices and market trends for week ending Feb 28, 2024. We also discuss why you need to stop wasting money on renovations if the plan is to sell. Most people do not recover their investment. Instead, enjoy the Reno’s for as long as possible so you can experience the value in the upgrades.

    https://www.youtube.com/watch?v=jfC0TT0sSN8

    17:36.

    1. Was the debate in Cleveland that this dude was at the one where Brandon was allowed to lie about Hunter’s laptop while being backed up by former heads of the CIA and the FBI?

  25. The Marxist writers handed the lying douche in chief a beauty of a Leftist campaign speech tonight.

    1. They deliberately slow-walked Biden through the chamber for 20+ minutes, so that his speech could be 20+ minutes shorter.

  27. Does the prospect of bank failures due to CR8Ring commercial real estate worry you?

    1. Business
      Powell: ‘There will be bank failures’ caused by commercial real estate losses
      by Tobias Burns – 03/07/24 2:31 PM ET

      Federal Reserve Chair Jerome Powell said Thursday he expects to see some banks fail due to their exposure to the commercial real estate sector, which has declined significantly in value following the shift to remote work.

      Powell said the banks that are in trouble with falling office space and retail assets are not the big banks, which were designated as “systemically important” in the aftermath of the 2008 financial crisis. That episode, which resulted in a taxpayer bailout of the financial sector, was also triggered by unsound real estate assets.

      Rather, the banks at risk of failure now Powell identified as smaller and medium-sized.

      “This is a problem we’ll be working on for years more, I’m sure. There will be bank failures,” he said during a Thursday hearing on the Fed’s monetary policy in the Senate Banking Committee.

      “It’s not a first-order issue for any of the very large banks. It’s more smaller and medium-sized banks that have these issues. We’re working with them. We’re getting through it. I think it’s manageable, is the word I would use,” he said.
      …
      https://thehill.com/business/4516758-powell-there-will-be-bank-failures-caused-by-commercial-real-estate-losses/

  28. Yahoo Finance
    Benzinga
    All Generations Are Financially ‘Traumatized’ But Gen X — America’s Forgotten Middle Child — Bears The Heaviest Load
    Jeannine Mancini
    Wed, Mar 6, 2024, 12:48 PM PST
    4 min read

    Relatives pass down more than genes and heirlooms; they also transmit mannerisms, beliefs and financial attitudes that shape individual identities. This invisible inheritance, encompassing views and the handling of money, silently influences financial decisions. Among all generations grappling with inherited financial perspectives, Generation X, the latchkey generation, stands out as profoundly impacted by this legacy of financial trauma.

    Findings derived from a comprehensive survey conducted by Experian reveal a striking prevalence of financial trauma among Americans, affecting 68% of over 2,000 surveyed adults.

    Financial trauma, as defined by Chantel Chapman, co-founder of Trauma of Money, refers to emotional distress directly linked to monetary concerns, shaping individuals’ relationships, family dynamics and overall perspectives on wealth as they age. The burden of financial trauma appears to be unevenly distributed across generations, with Generation X bearing the heaviest load.
    …
    https://finance.yahoo.com/news/generations-financially-traumatized-gen-x-204842104.html

  29. Personal Finance
    Broke boomers are moving in with their millennial kids, who are seething: ‘Where were they when I needed help?’
    As more boomers reach retirement age, many are facing the stark reality of insufficient savings—and turning to their adult children for support.
    BY Jasmine Li
    March 07, 2024 10:42 AM EST
    Daughter angry with elderly mother on Christmas night at home

    The median retiree has $142,000 in savings, according to a study by real estate company Clever—a far cry from the $1 million they say they’ll need to retire comfortably.
    Getty Images

    Get the guest room ready, because Mom and Dad are moving in. What sounds like the logline of a ’90s sitcom is reality for Lars, a college instructor in her late thirties whose boomer parents didn’t save enough for retirement.

    “They can no longer sustain the lifestyle they’ve lived for 50-plus years and are being forced to move in with me across the country,” Lars said in a TikTok video posted March 2, which has since amassed over 2.5 million views and tens of thousands of comments.

    As more boomers reach retirement age, many are facing the stark reality of insufficient savings—and turning, oftentimes reluctantly, to their adult children for support. The median retiree has $142,000 in savings, according to a study by real estate company Clever—a far cry from the $1 million they say they’ll need to retire comfortably.

    Lars, who bought a house with her partner last spring, is a member of a growing segment of adults housing their “reverse boomerang” parents. In 2021, 9% of multigenerational households were headed by 25- to 34-year-olds, up from 6% in 2001, according to the Pew Research Center. And Lars’ new seventysomething roommates come with extra baggage: In her early adulthood, her parents did not approve of her sexuality and gave her little financial support, she told her TikTok audience.
    …
    https://fortune.com/2024/03/07/broke-boomers-millennials-reverse-boomerang

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