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It’s A Return To Reality After Dreams Of Speculation

A report from Fortune. “Compass CEO Robert Reffkin told CNBC on Wednesday that 30% of the inventory on the market has seen a price drop, which is more than anytime in last 10 years. Meanwhile, the market has seen 16% more inventory. ‘It is a different environment. We are now seeing more sellers than buyers,’ he said. ‘Sellers bringing their homes on the market during this period need to be aware of how buyers are pushing back. If your home is well priced in this environment, it will sell quickly. But if it’s not, it will sit on the market. Then you’re going to have to have a price drop. Then buyers will see they get a price drop. The sharks come out, and it will hurt you even more.'”

From BBC News. “Nearly one third of all households now spend more than a third of their income on housing – the standard cut-off for affordability – the highest level since 2015, according to Harvard’s Joint Center for Housing Studies. Mimi Than, a 29-year-old who recently bought a three-bedroom condo in the Boston, Massachusetts area, says she is facing roughly $200 more in monthly costs than when she and her husband were pre-approved for a loan in March. They did not lock in the rate then, unaware borrowing costs might shift significantly. When they returned to their lender in April after making an offer, the interest rate they were offered was 6.9%, up from 6.5%. She’s hoping that they will drop back later this year, allowing them to refinance. ‘I’m obsessively checking the rates,’ she says.”

The Garden Island in Hawaii. “Home sales jumped more than 60 percent in the first full month of spring, as the Kaua‘i housing market continued to rebound from a rough outing in 2023. At the same time, the median price sank 28.12 percent to $1,128,500 from $1,570,000. That marked the first time this year the median sales price was lower than the same comparable period a year ago.”

Boston Magazine in Massachusetts. “In past years, the panorama before them would’ve been a high-rise testimony to the decades-long Boston construction boom that these developers, investors, and builders have helped nurture. But on this winter day, the vista was pockmarked with signs of impending doom. Just a half-mile away was 281 Franklin Street, worth $6.1 million in 2017, unloaded this past February for $3.8 million—a 38 percent falloff. Two blocks north, 186 Lincoln Street, with nine stories of office space, sold last fall for $11 million—a 47 percent drop from its $20.7 million 2015 purchase price. And to the north, at 125 Broad Street, sat one of downtown’s most extreme haircuts, bought for $14 million in 2018 and sold in December for $3.9 million—a 72 percent decrease.”

“It’s not just the Financial District that’s been racking up casualties of the Great Post-Pandemic Commercial Real Estate Crash. Down in the Bulfinch Triangle near TD Garden, an office building at 110 Canal Street recently changed hands for the second time in two years, with the seller swallowing a $6.1 million loss. And more than 34,000 square feet in the antique building at 33–41 West Street across from Boston Common, which fetched $16 million just eight years ago, sold last September for $4.1 million—a 74 percent markdown more reminiscent of the old Filene’s Basement than Boston’s once-thriving downtown. According to investment-data provider MSCI, property sale prices in the central business district cratered in the fourth quarter of 2023 by more than 30 percent year over year, a decline steeper than any other city MSCI tracked, including Chicago, Manhattan, San Francisco, and Washington, DC.”

“We could be headed for a world in which Boston’s annual tax collections run as much as $500 million below the current haul, a deficit that’s roughly an eighth of the current city budget. ‘The bleakest scenario is something like a return to the urban experience of the 1970s, a desiccated city where a lot of the energy has left and moved elsewhere,’ says Evan Horowitz, lead author of the CSPA report. ‘It’s not purely hypothetical. You need to deal with it.'”

The Globe and Mail. “Two years into the most intense campaign of interest-rate hikes in decades, commercial real estate’s last bastions of support are faltering, with industrial and storage property owners succumbing to oversupply and slowing demand. Until recently, these two sectors were considered immune, Canada’s national vacancy rate for industrial properties fell to 1.5 per cent, and distribution warehouses in and around cities such as Toronto and Montreal commanded some of the fastest-rising prices in the world. But just like the owners of office towers and rental apartment buildings before them, industrial and storage landlords are struggling with weaker valuations, darkening the cloud that has hung over the industry.”

“Higher rates did take some air out of this market, because they raise mortgage costs, but industrial and storage properties could endure the early pain. What’s really doing damage now is too much development, coupled with softer demand. ‘We’re seeing that this sector is not immune to oversupply,’ said Fraser McKenna, an industrial real estate broker at CBRE. Landlords must accept a different mindset, as prospective tenants aren’t as desperate to scoop up space any more. And when they want to rent, there are lots of properties to choose from. ‘The difference is, people have choices,’ Brad Dykeman, executive managing director at brokerage Cushman & Wakefield.”

From I News. “The great UK staycation flourished during Covid, tempting thousands of new holiday let owners into an already crowded market, fuelled by the rise of AirBnB and other platforms. But the boom now appears to be stalling. Now, holiday let owners, such as Tereska Walker, are considering walking away from their properties as bookings dry up and new taxes, designed to protect local communities, kick in.  Walker, 53, and her husband, who live in Oswestry, were half-way through converting a cowshed barn on their 24 acres of land into a home for her elderly parents when her father died and her mother had to move into a residential home in 2020. They decided to continue with the build and rent it out as a holiday home, spending about £180,000 on the conversion.”

“‘It started to get quiet last year,’ says Walker, whose lodge costs from £525 for a four-night break in low season and is rented out via platforms such as Vrbo and Airbnb, as well as directly. ‘So far this year it’s dead.’ She says bookings are down about 50 per cent year on year. But she says there’s no way she can lower rates. ‘You can’t make it pay for a two-night break. The third night is your profit. You can only drop your price by so much.’ Walker currently has eight buy-to-let properties in Manchester, down from 15. But she says there will soon be zero. ‘It’s not financially feasible and with landlord regulations [tightening] and doing away with Section 21, where you can’t get your own property back, [it’s not worth it].'”

“Matt Fox, chief executive of Snaptrip Group, with up to 70,000 holiday lets across the portfolio, says the cost of living crisis has affected demand. He says many holiday let owners are starting to give up. ‘Absolutely we’re seeing people looking to sell. Holiday let owners are like any business. If you can’t make good margins… because don’t forget they work in seasons. If they reduce prices, they’re losing money.'”

From Le Monde. “It’s a return to reality after dreams of speculation. With just a few weeks to go before the opening of the Olympic Games on July 26, prices for accommodation in the French capital are no longer as stratospheric as those announced during the summer of 2023. ‘Since September-October, as Asian and American foreigners have made their reservations, prices have declined and continue to fall a little every day,’ confirmed Romain Bellet, co-founder of WeHost, a concierge service that manages a fairly large volume of rentals, from studios to large houses.”

“While it’s difficult to generalize, professionals estimate that a short-stay rental in Paris, in the mid-range, now costs 1.5 times its usual price over the same period. It is no longer 2.5 times, as was the case if you tried to book this period last fall. For example, a standard studio apartment in the 20th arrondissement of Paris, which usually rents for between €60 and €100 a night, now costs between €100 and €150 when rented during the Olympic Games.”

“‘Apartments are having a difficult time filling up,’ said Bellet, who noted occupancy rates of around 20% to 25% on the Airbnb platform. ‘It’s very quiet. Many are waiting for the last minute and to see prices drop even further.’ Another worrying sign for people hoping to cash in on the Olympics: When the national train operator SNCF opened its ticket office for train ticket purchases, the spike in bookings that travel industry insiders were expecting didn’t happen.'”

ABC News in Australia. “Valerie Shannon and Garth Woodcock own a spacious block in Coffs Harbour, but their house is full. The couple live with Ms Shannon’s elderly parents and her adult son. By the side of the garage sit steel frames with weeds poking through — part of what was meant to be a purpose-built tiny home for Valerie’s son but are instead a grating reminder of what they view as a ‘rip-off.’ The couple paid almost $55,000 for the tiny home in late 2022 and expected to receive the structure by the following April. By August last year, only part of the frame and roof had arrived. Despite repeated requests for a refund, the pair, both retired, are still owed more than $43,000. ‘It makes me feel sick because I just want my tiny home,’ Ms Shannon said. ‘If I don’t get my tiny home, I want my money back.’ Ms Shannon and Mr Woodcock are among dozens of people believed to be owed millions of dollars by My Tiny Home Kit.”

From News.com.au in Australia. “Customers fear that a building company is on the brink of collapse as their construction sites languish and payment defaults mount while tradies are chasing the business over unpaid debts. And in a reply-all fail, the building company accidentally sent a response to a customer calling them ‘nuts.’ News.com.au can reveal that half a dozen homeowners who signed with Melbourne-based custom residential builder Holbrook Homes are calling for an end to their misery, either through the construction firm finishing their builds or going into liquidation.”

“One customer, Don Jollie, is at the end of his tether, telling news.com.au that Holbrook Homes has tried to bill him twice for incomplete works, making him concerned about how desperate the business is for his money. ‘And I’m not talking a little bit incomplete,’ Mr Jollie said, explaining ‘the bank said they’re not paying this, the second floor hasn’t even been started.'”

“Then there’s Kate and Ryan Norris, 36 and 41, who entered into a contract with Holbrook two years ago for their $352,000 house. Their four-bedroom, two-bathroom house was sitting at lockup stage for seven months, and it’s now been stuck at the fix-out stage for the past eight months. ‘We’re renting temporary accommodation,’ Mr Norris said. ‘We thought worst case scenario June 2023 (was when we would move in). We burned through all our savings to get to that point.'”

“Another customer, Jason*, who preferred to remain anonymous told news.com.au there were ‘poor communication, delays, excuses right from the start.’ The Melbourne dad of four added: ‘The last year has been the hardest of my life. The constant feeling of dread and unknowing has taken its toll on my entire family.’ Jason has sought legal advice so that he can cancel his contract. ‘It will most likely mean our house will never be completed,’ he lamented. ‘It is looking more likely that we will need to sell the land and unfinished house as it is and lose out on the $150,000 we have already spent.'”

From Reuters. “Cash-strapped China Vanke has sold a Shenzhen land plot via auction for 2.24 billion yuan ($309.18 million), a filing on Monday showed, more than 27% below the price it paid for the same 19,000 square-metre block nearly seven years ago. Vanke is working to raise funds after saying last month it is facing short-term liquidity pressure, one of many companies to have been caught up in a broad-based cash crunch in China’s crisis-hit real estate sector. Its largest shareholder, state-owned Shenzhen Metro, and Shenzhen-based company Baishuoyinghai jointly bought the plot at Vanke’s reserve price, according to an online filing uploaded to a trading center in Shenzhen on Monday.”

“Theirs was the only bid for the asset, the same filing, made after mainland stock market was closed, showed. Vanke bought the land in late 2017 for 3.1 billion yuan, according to previous documents. In a statement to Reuters, Vanke said the deal reflects that its largest shareholder is ‘supporting the company with market-based, legitimate measures and real money.’ It said the deal will help the firm free up capital from non-core business assets. Vanke has said it aims to boost cashflow this year with bank financing and more asset disposals worth more than 30 billion yuan.”

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This Post Has 102 Comments

  1. HBB warning to readers: bbc and reuters are globalist scum media who peddle conspiracy theories, election lies and mis, mal and dis-informations.

  2. ‘Mimi Than, a 29-year-old who recently bought a three-bedroom condo in the Boston, Massachusetts area, says she is facing roughly $200 more in monthly costs than when she and her husband were pre-approved for a loan in March. They did not lock in the rate then, unaware borrowing costs might shift significantly. When they returned to their lender in April after making an offer, the interest rate they were offered was 6.9%, up from 6.5%. She’s hoping that they will drop back later this year, allowing them to refinance. ‘I’m obsessively checking the rates’

    We got another rate dater.

    1. “I’m obsessively checking the rates”

      Should’ve been obsessively checking the prices. Sorry Mimi, you’ve been schlonged!

        1. Western banks have been suppressing the price of gold via the paper futures markets. But, as the saying goes, it’s like “holding a beach ball underwater.” Eventually you lose your grip and the ball pops up to the surface. Central banks and citizens in the East have vote No Confidence in the US Dollar, and now they are now buying and demanding physical delivery. Like that beach ball, the banks can’t hold the price down down anymore. They’ve tried a bit of manipulation, but it’s clearly not working as well as it used to.

      1. Real Estate
        Why mortgage rates are doomed to stay above 7% for the foreseeable future
        Filip De Mott
        May 26, 2024, 10:43 AM PDT
        The housing market has been pushed out of reach for some Americans by sky-high mortgage rates.
        Getty Images

        – Housing experts were betting on mortgage rates to decline this year on looser Fed policy.

        – Yet, the 30-year mortgage rate has been stuck around 7% all year.

        – Freddie Mac and Fannie Mae say they expect mortgages to stay in the 7% range through 2024.

        Interest rate forecasts have been volatile through 2024, as early bets for a policy pivot have consistently been let down.

        With the Federal Reserve looking unlikely to ease rates before September, housing market analysts are recalibrating mortgage rate outlooks, as home loan rates are heavily influenced by the Fed funds rate.

        Following the excitement of waning inflation at the end of 2023, which prompted calls for as many as seven Fed rate cuts in 2024, a string of discouraging consumer price index reports in the first quarter has prompted a shift.

        The Fed has grown more cautious since the start of the year. Public remarks from central bankers in recent weeks have signaled no rush to loosen policy, and some market commentators have said they’re even eyeing another rate hike before a dovish pivot.

        That’s complicated the outlook for all kinds of borrowing costs for consumers and businesses, and notably, it has made the outlook for mortgage rates much less rosy for potential buyers this year.

        Government-sponsored mortgage finance giants Fannie Mae and Freddi Mac have pushed their forecasts for mortgage rates back up.

        In a report this month, Fannie estimated that the 30-year mortgage could creep up to 7.1% in the coming quarters, before easing slightly by the end of the year. That’s well above the 6.4% forecast it held in April.

        Freddie Mac has also adjusted its prediction.

        “Our baseline scenario has one Federal Reserve rate cut towards the end of the year. As a result, we expect mortgage rates to remain elevated through most of 2024,” the government-sponsored enterprise wrote in its midyear outlook.

        “The question our economics team is asked most frequently by industry participants remains where we think mortgage rates are headed,” chief economist Doug Duncan said in the report. “For now, we see rates remaining closer to 7 percent through the end of the year – before trending downward in 2025 – but note potential downside to that forecast given recent actual movements in rates.”

        High rates have added to a number of market burdens for both buyers and sellers, and consumers have largely stuck to the sidelines as a result. While there are some encouraging signs for prospective buyers, such as more inventory and less price appreciation, the market is still tight.

        Many homeowners originally bought their property when mortgage rates were as low as 3%, and the steep rise since has disincentivized selling. According to Freddie Mac, six out of 10 mortgages have a rate below 4%, locking those owners into their lower costs.

        With fewer existing homes on the market, a dearth of housing supply has caused prices to soar in the last 18 months.

        “Move-up buyers feel stuck because they’re ready for their next house, but it just doesn’t make financial sense to sell with current interest rates so high,” Redfin Premier agent Sam Brinton said in a recent report.

        Home prices hit a fresh record this month, reaching $387,600 in the four weeks through May 19, Redfin said. Between that and mortgage rate highs, median monthly housing payments are sitting just $20 below recent all-time highs.
        …
        https://www.businessinsider.com/housing-market-mortgage-costs-outlook-home-price-fed-interest-rates-2024-5

        1. “Move-up buyers feel stuck because they’re ready for their next house, but it just doesn’t make financial sense to sell with current interest rates so high,” Redfin Premier agent Sam Brinton said in a recent report.

          Considering the equity gains that will result in a massive down payment, and assuming prudent household budgeting which means additional cash savings for said down payment, why do rates matter so much for winners who are rich on paper?

          Can’t they just rent it out for oodles of bucks and have someone pay their mortgage?

  3. ‘property sale prices in the central business district cratered in the fourth quarter of 2023 by more than 30 percent year over year, a decline steeper than any other city MSCI tracked, including Chicago, Manhattan, San Francisco, and Washington, DC’

    Boston is fooked. This article is worth reading in full and there are more FB’s in the other links.

  4. The sharks come out, and it will hurt you even more.’”

    And just like that, the UHSs have seamlessly switched from FOMO to Fear of Getting Schlonged (FOGS) to stimulate Always Be Closing. No sale, no commission, so hangry realtors won’t waste time with delusional greedhead wish prices.

  5. Memorial Day.

    Think about all the crosses in cemeteries in France and Western Europe of U.S. military that never came back.

    Ask yourself what did they die for, when you now live under an unelected, illegitimate, occupation regime with an open borders policy that wants you replaced.

    You are being replaced. And the people coordinating your replacement all have names, and are commonly unified in their hatred of Christianity.

  6. At the same time, the median price sank 28.12 percent to $1,128,500 from $1,570,000.

    Is that a lot?

  7. ‘The bleakest scenario is something like a return to the urban experience of the 1970s, a desiccated city where a lot of the energy has left and moved elsewhere,’ says Evan Horowitz, lead author of the CSPA report.

    By “energy” Horowitz means libtards fleeing the messes they created, only to attempt to recreate what they fled from in the red states they ooze into.

  8. Now, holiday let owners, such as Tereska Walker, are considering walking away from their properties as bookings dry up and new taxes, designed to protect local communities, kick in.

    Die, speculator scum.

  9. She says bookings are down about 50 per cent year on year. But she says there’s no way she can lower rates. ‘You can’t make it pay for a two-night break. The third night is your profit. You can only drop your price by so much.’

    Mr. Market sets the price, not you, Greedhead Teresa. The cost of living crisis due to the central bankers’ creation of trillions in “stimulus” out of thin air during the scamdemic means bookings at your STR have a lot further to fall.

  10. Walker currently has eight buy-to-let properties in Manchester, down from 15. But she says there will soon be zero.

    I love the smell of burning housing speculators in the morning. It smells like…victory.

  11. ‘It makes me feel sick because I just want my tiny home,’ Ms Shannon said. ‘If I don’t get my tiny home, I want my money back.’

    Color yer money gone, Ms. Shannon. Your only recourse at this point is to stamp yer little feet!

  12. We’re renting temporary accommodation,’ Mr Norris said. ‘We thought worst case scenario June 2023 (was when we would move in). We burned through all our savings to get to that point.’”

    So we’re both renters, Mr. Norris, but that’s where the similarities end.

    1. “We burned through all our savings…”

      Mrs. Norris needs to upload some OnlyFans content.

  14. Federal safety regulators have discovered nine more incidents that raise questions about the safety of Waymo’s self-driving vehicles operating in Phoenix and San Francisco.

    The National Highway Traffic Safety Administration Office of Defects Investigation (ODI) opened an investigation earlier this month into Waymo’s autonomous vehicle software after receiving 22 reports of robotaxis making unexpected moves that led to crashes and potentially violated traffic safety laws. The investigation, which has been designated a “preliminary evaluation,” is examining the software and its ability to avoid collisions with stationary objects and how well it detects and responds to “traffic safety control devices” like cones.

    The agency said Friday it has added another nine incidents since the investigation was opened. Waymo could not be reached for comment; TechCrunch will update the article if the Alphabet-owned company responds.

    Waymo reported some of these incidents. The others were discovered by regulators via public postings on social media and forums like Reddit, YouTube and X. The additional nine incidents include reports of Waymo robotaxis colliding with gates, utility poles, and parked vehicles, driving in the wrong lane with nearby oncoming traffic and into construction zones.

    NHTSA has stepped up its inquiries into automated driving technology. Earlier this month, the agency opened an investigation into autonomous vehicles operated by Amazon-backed Zoox. The investigation was triggered after receiving two reports of the company’s autonomous-equipped Toyota Highlanders being rear-ended by motorcycles after the SUVs unexpectedly triggered the brakes.

    https://www.yahoo.com/entertainment/feds-add-nine-more-incidents-170620614.html

  15. Is the Washington Post Helping Trump?

    The recent headline blasted: “TRUMP JUST MADE MORE PROMISES TO OIL INDUSTRY CAMPAIGN DONORS”

    The story that followed in the “climate” section of the Post was a typical attempted “hit piece” designed scare people into voting against President Trump because he has been courting domestic energy with his campaign.

    What did the “horrible promises” consist of?

    Really scary stuff like approving exploration leases faster and opening up pipelines that would allow energy to be moved across the nation with less CO2 needed.

    The authors of the piece even brought up the fact that this sidebar about domestic energy has become a regular part of the President’s campaign messaging citing recent speeches where he has hit the same notes.

    The problem for WaPo is that they sit on the wrong side of the energy divide. Trump is on the correct side and the legacy media like WaPo is about to have their lunch handed to them in the next election.

    And on energy they absolutely should.

    Domestic energy production is the single most important fiscal, national defense, and human flourishing issue in the election.

    Biden sees them as three separate issues. He thinks fiscal matters are solved by the government giving you more stuff. His idea of national defense is sucking up to Venezuela, and Iran, and abandoning Israel. His answer to human agony is to let even more children and women be raped as they head towards our southern border with no help waiting for them once they arrive.

    Biden is a daft old man who is on the wrong side of even Memorial Day Weekend. He and Kamala Harris spent time honoring George Floyd instead of the fallen men and women in uniform. Never mind that the person who killed Floyd sits in prison for his crime. The people who murdered dozens and burned down millions in black infrastructure, business and housing still walk free.

    Trump is rightfully recruiting the domestic energy sector to join his campaign. It’s not bribery or any other tawdry implication the Post is attempting to make it out to be.

    No. It’s problem solving. It helps us live better, it helps to fix a very broken economy, it bankrupts our enemies, and gives America the upper hand in world dominance in a world that has become unraveled by the man who needs uppers to make a campaign speech and yells at his audiences for no apparent reason.

    President Trump is right on American energy, and it will be the cornerstone policy of his second administration that will fix America’s problems.

    The Washington Post didn’t intend to, but they inadvertently helped get the word out that President Trump is even now already fixing one of America’s greatest problems.

    https://townhall.com/columnists/kevinmccullough/2024/05/26/is-the-washington-post-helping-trump-n2639553

    1. “Never mind that the person who killed Floyd sits in prison for his crime.”

      His name is Derek Chauvin, a former police officer and fall guy for the Woke movement. George Floyd killed himself with a lethal dose of fentanyl on a suppository inserted in his rectum.

      1. and of course no onr will talk about the 5 minutes before he was on the ground sitting in a nice cold AC car waiting for EMS to arrive on a hot muggy night, and he escaped.

      2. I thought he swallowed the pills because he already had a couple offenses and if they had found the F he would have gone back to jail.

        1. “…if they had found the F he would have gone back to jail.”

          George “doting dad” Floyd was nabbed for passing forged currency; the F wouldn’t have affected the outcome.

    2. +1

      And on the topic of energy, look at the energy of the campaign rally audience in the Bronx last week.

      1. And they looked very much like a home-grown audience, not trucked-in protestors. Not a single mask and not a single tent or other encampment supplies.

  16. Warnings Australia’s energy transition ‘out of control’ as NSW market quietly melts down

    The head of one of Australia’s biggest power retailers has warned that Australia’s energy transition is veering out of control, pointing to a major market disruption that hit New South Wales as evidence of the turmoil.

    During a week in which NSW agreed to extend the life of the state’s biggest coal plant, Alinta boss Jeff Dimery cited dramatic events in the market earlier in the month to argue the system was in distress.

    The Australian Energy Market Operator was forced to step into the NSW market and cap wholesale prices between May 8 and 15 after a series of shocks sent costs into orbit.

    It’s believed to be only the second time the market operator has had to make such an intervention in NSW — the first being the energy crisis of 2022.

    Among the blows were a number of planned and unplanned outages at coal plants in NSW.

    One of the affected plants was the giant Eraring power station, which the Minns government this week announced would be kept open until 2027, two years later than planned by its private owners, Origin Energy.

    Paul McArdle from market analysis firm Global Roam said the coal outages coincided with relatively calm conditions, which meant output from wind farms was lower than normal.

    At the same time, Mr McArdle said there were disruptions to high-voltage power lines linking NSW to Queensland and Victoria.

    https://www.abc.net.au/news/2024-05-26/nsw-market-meltdown-sparks-energy-transition-warning/103890282

  17. $549,000
    3847 Irving St, Kingman, AZ 86409

    Beautiful roomy duplex with open floor plans. Both sides are mirror image of the other. Each side is 1314 square feet each with 2 car garages, landscaped front yards with sprinkler systems. Each unit has 3 bedrooms, 2 bathrooms, ceramic tiled living areas and carpeted bedrooms. The counter tops in the kitchen and bathrooms are granite. the living room and bedrooms have ceiling fans. The kitchens are equipped with a microwave, range, and dishwasher. Shingle roof. Construction should be completed the end of July, 2024.

    https://www.zillow.com/homedetails/3847-Irving-St-Kingman-AZ-86409/350563068_zpid/

      1. That thing isn’t going to be finished by the end of July. Looks like a shack gambler got caught with his pants down.

      2. Kingman is one of the leftovers of Route 66. The majority of towns along it are dying and many of them are in quite advanced stages of decay. The only obvious growth industry in most of the towns along the old route is ‘medicinal’ weed shops.

        It is fascinating when juxtaposed against the bubble we all know so well. We can easily estimate that most of the cities along the old route will see very steep price declines in the next few years. No one wants to stop in those places anymore, people stay on the freeway and haul thru. One interesting factoid that I was not aware of until recently is that the US actually retired the official Route 66 designation. It doesn’t officially exist anymore. It is reduced to small stretches of historic sections with most of it renamed to other designations long ago. Places like Kingman cling to it as a means to give the town some long lost meaning for a place that probably shouldn’t even exist. Buyer beware.

        1. Same with the Oregon Coast. All these small stops have nothing except a Dollar General store. Even the gas stations are closed, if your lucky a card only, no people gas, only one in town.

        2. I’m going to disagree about Kingman, and I have many years experience with foreclosing, being a landlord out there etc. They are generally good people. They have the interstate, the railroad and tourism. A surprising amount of manufacturing because the relative cost of living is low. Yes they play up the Route 66. Everybody all along it does.

          They have water. Multiple aquifers from the surrounding mountains and hills, it’s a 3 sided valley. The schools aren’t bad, the good people are fighting for that. They swat down crime when other places are encouraging it. There’s a completely normal business situation except there’s this proximity to California and a housing mania. It’s all guberment backed loans out there.

          So they are about to get their a$$es kicked, again. I’d bet they’ll still be out there, sweaty, dirt swirling in their faces when they get out of the car. I could think of worse places to live.

    2. The ceiling drywall looks pretty sketchy. Maybe the pics are blurry for a good reason.

      Looks like cheap motels across the street.

      Desert sand must be quite valuable.

      1. At least it’s public water and sewer. In this god-forsaken part of the country, listings often say “Water haul.” [Why does anyone live here?

        Electricity “available.” Does that mean it’s not hooked up yet?

        1. A lot of ranchers around here haul water back to their properties. There’s a place in town where after swiping their credit card they can fill up the tanks in the beds of their F-350s

  18. Real Estate Investors Betrayed By Tenants- It’s Happening Right Now
    Mark Turcotte

    1 hour ago

    Are real estate investors being betrayed by their tenants? In this video, we discuss the harsh reality that investors are facing right now. With tenants taking advantage and causing financial losses, it’s important to be aware of the potential risks involved in real estate investing. Watch to learn more about the challenges investors are currently experiencing in the real estate market. Stay informed and protect your investments!

    Are you looking to sell or buy Innisfil, Barrie , ESSA, Springwater Township real estate. Understanding the correlation between price and days on the market may be crucial to your success. In this video, we discuss how many property sellers in Barrie are now associating price with how long their property has been listed for sale. This allows them to price their property competitively and attract more potential buyers. Selling your home can be a daunting task, but with proper strategies and insights, you can achieve your goals with ease. Our team of experienced real estate agents is dedicated to helping you succeed in your real estate endeavours, whether you’re buying a new home or selling your existing property. Our mission is to provide you with actionable tips and tricks that will help you navigate the complex Barrie real estate market confidently. Don’t let your property sit on the market for months on end.

    https://www.youtube.com/watch?v=7SG-6SVxsns

    13:30. K-da.

  19. A reader sent these in:

    The historic multi-family housing boom has peaked, according to Units Under Construction with 6mma lag:

    https://x.com/MacroEdgeRes/status/1794455260158718004

    34% of small businesses say they only have one month or less cash on hand in April, per Bloomberg.

    https://x.com/unusual_whales/status/1794028583054344349

    The $TSLA jingle … 🎵🎶

    volume up … 🗣️📢 on loop …

    I’m sure someone can find a beat to go with this.

    https://x.com/StonkKing4/status/1794161020422050139

    AMAZING! Now that there’s a truck on the market that can carry four whole bags of garden mulch, who’d want anything else?

    https://x.com/ChrisO_wiki/status/1794413331358589306

    Housing speculators not understanding the data until its too late

    https://x.com/GRomePow/status/1794526607740428793

    Did @CNBC do sad stories when highly-levered CRE billionaires were minting money thanks to QE and ZIRP for all those many years?

    https://x.com/RudyHavenstein/status/1794057020003303740

    Dollar Tree has lost the plot.

    https://x.com/RudyHavenstein/status/1793701650634522996

    “Hey @fanniemae @fhfa @senatebanking there’s like rampant fraud in agency loans, its literally pointed out by the Federal Reserve in a report.”

    Fannie: Ok sounds good, we’ll block you for pointing it out

    https://x.com/GRomePow/status/1793775914754727948

    As a reminder, over the last 10 years, Boeing spent $60 Billion on stock buybacks and received Billions more in Covid-related taxpayer subsidies, tremendously enriching corporate executives who manifestly have failed at their jobs.

    https://x.com/ssp2s/status/1794414795652780359

    This is why short-term rentals need to be strictly regulated. The entire industry is a hot mess of regulatory avoidance and financialization which siphons potential home inventory for families from the real estate market.

    Denton Texas is already suffering from a lack of affordable home inventory, and a significant homeless population, yet these landlord/investors are whining about losing profits from their speculative activity.

    Cry me a river!

    Not surprisingly only 13 percent of the short-term-rentals in Denton Texas are currently following the law and complying with city ordinances.

    These owner/speculators want to run a residential hotel, but they don’t want to pay the registration fees and hotel occupancy taxes. Oops!

    The chef’s kiss in this piece is the Realtor whining about the regulations because some owners might not have enough equity to do a long-term rental. Amusing that she didn’t want to provide her name.

    “And when we think about it as a realtor in the community, if you own a property next to that and your situation changes and you immediately have to move or relocate, and you’re in a situation where you bought in the last two years, you don’t have the equity to be able to do a long-term rental,” explained one real estate agent, who didn’t give her name to city staff.

    “We are now imposing on that homeowner the inability to be able to [make an extra income]. We are looking at higher foreclosures and a bunch of different things”

    That’s a serious case of brain worms. 😂😂😂

    https://x.com/dfwaaronlayman/status/1794726174796443902

    Government saw housing price collapse and went into full on panic mode and manipulated the data to hide price collapse

    https://x.com/GRomePow/status/1794823688635977841

    1. “Government saw housing price collapse and went into full on panic mode and manipulated the data to hide price collapse”

      I wonder what stopped the Communist Chinese government from following a similar course?

    2. “34% of small businesses say they only have one month or less cash on hand in April, per Bloomberg.”

      Suggestion to the IRS. Focus your attention on the other 66%. That’ll narrow down your search for fraudulently obtained PPP and ERC money. But don’t lose sight of the other 34%. Could be many of those took too many European vacations on or tax dollars and went through it quicker.

    3. “Realtor whining about the regulations because some owners might not have enough equity to do a long-term rental.”

      What the heck does equity have to do with an investment property penciling out? You can be over-leveraged to the point that LTR doesn’t pencil. Equity only comes into play when you need to bail out and sell. No equity = schlonged. What am I missing?

      1. What am I missing?

        The ability to borrow against the property. Have you seen how much new cars cost?

    4. short-term-rentals in Denton Texas

      I keep thinking that STRs are for tourist areas like the beach or the mountains or a lake town.

      So I’m always taken aback that there is a sizable STR market in a working-job town like Denton. Just how many STRs are there? How many families are being robbed of a rental because tourists (?) are staying in STRs? Hard for me to wrap my head around.

  21. Went to the Doctor, just to see what the Doctor would say.
    All my tests and bloodwork came back outstanding.
    But, in spite of my cholesterol being at 138, the Doctor was concerned that I was borderline needing long term cholesterol medication.
    What a joke ,because if anything I think I need to get my cholesterol count up.
    And the Doctor wanted to know what my vaccine status was. I expressed I was fine.
    To me, this is a serious waste of medical resources trying to get someone like me with low cholesterol on long term cholesterol meds and vaccines.
    IMHO, the so called preventive care of unneeded meds and fake vaccines is nothing but a con job.
    Preventive care is getting you on meds with side effects you don’t need, and fake expiermental vaccines.
    The Doctor revealed to me that his practice lost 80% of his patients in nursing homes to the Covid .
    I wondered what kickbacks this Dr would get if he got me to take junk I didn’t need.
    And along with taking chemicals for healthcare, at the same time fake food and bugs are suppose to be great and healthy and save the world.
    Its all so unbelievable and corrupt and probably a depopulation agenda, because its not making people healthy. Its pretty scary that I have to get away from the medical system because of what they want to convince me I need.

    1. Sounds like you need to find a new doctor. Your cholesterol is 138 and he wants you to take statins? WTF?

      1. Kid you not Colorado that he wants me to take statins, claiming that I’m borderline high.
        And I’m sure those numbers were just made up by the medical system so they could get younger and younger people taking statins.
        I just hope I don’t have a emergency requiring me to actually need the medical system.

        1. If you are under 200 you are OK. At 138 you are ideal. Like I said, time to find a new doctor.

          1. “Borderline” for statins is LDL of 100. There is no way that HW’s HDL is less than 40. Perhaps the 138 is for LDL. In which case, yes, an old-school doctor would want a statin. Statins are a scam.

            I had the same issue a month ago. High LDL because of Keto/carnivore diet. I refused a statin too. I slipped off the keto, trying to get back on track.

        2. I threw mine away, you should too. Statins are. A bigger scam than the covid vaccines

    2. “The Doctor revealed to me that his practice lost 80% of his patients in nursing homes to the Covid .”

      Not a ringing endorsement of his skills. I’d can the doctor.

    1. “This is the staggering amount homeowners spend on costs besides their mortgage”

      \\

      – Everyone looking to buy a house, needs to do the “buy vs. rent” calculation. For equivalent properties: monthly rent vs. PITI. Right now in most U.S. MSAs, and assuming a standard 30 yr. mortgage, buying is 50-60% (or more) more expensive than renting. This doesn’t include maintenance and general upkeep, repairs, COA/HOA fees, which are now becoming very expensive.

      – Someone said: “You will own nothing.” They may be right. Inflation is still high. Any positive inflation is destroying the purchasing power of your $, including disinflation, which is declining inflation, but still positive. Only deflation will reverse the trend. Not holding breath, but the collapse of asset bubbles is (ultimately) deflationary. In my view, we’re on that glide path now. These things take time, and patience is a virtue. This is an equivalent statement to “Got popcorn”? 🍿

      \\

      – Marxism is alive and well in the 21st century.

      “Inflation is a monetary phenomenon. It is made by or stopped by the central bank.” – Milton Friedman

      “The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.” – Ludwig von Mises

      “The way to crush the bourgeoisie [middle class] is to grind them between the millstones of taxation and inflation.” – Vladimir Ilyich Lenin

      “The establishment of a central bank is 90% of communizing a nation.” – Vladimir Ilyich Ulyanov Lenin

      1. And for your next trick, do the Buy vs. Rent calculation for when you’re 68 and your salary is 40% of what it was when you were working. Suddenly that paid-off house — even with the taxes — is a little more attractive.

        1. when you’re 68 and your salary is 40% of what it was

          Ironically, when you stop paying taxes and building savings, 40% is pretty much the same thing.

          Since renting has been half the cost of buying, at age 82 you’d still be way ahead. If the decade ahead sees sustained and grinding losses on house equity, renting looks like a genius move.

          1. I guess I bought at a good time then, because things are penciling out a lot better than that.

        2. The benefit of being retired is you do not need to live near urban centers for jobs.

          But then again, the Central Bankers have made the middle-of-nowhere-with-zero-prospects expensive with their manipulations. So who knows. At some point, the youth will just burn it down anyway. So who cares at a certain point.

    2. Good thing real estate always goes up, so they can recover the high costs of home ownership in their home equity capital gains.

  23. – Memorial Day rememberance.

    Gettysburg Address

    Text of Lincoln’s Speech – Delivered at the dedication of the Soldiers’ National Cemetery at Gettysburg, Pennsylvania.

    Four score and seven years ago our fathers brought forth, on this continent, a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal.

    Now we are engaged in a great civil war, testing whether that nation, or any nation so conceived and so dedicated, can long endure. We are met on a great battle-field of that war. We have come to dedicate a portion of that field, as a final resting place for those who here gave their lives that that nation might live. It is altogether fitting and proper that we should do this.

    But, in a larger sense, we can not dedicate—we can not consecrate—we can not hallow—this ground. The brave men, living and dead, who struggled here, have consecrated it, far above our poor power to add or detract. The world will little note, nor long remember what we say here, but it can never forget what they did here. It is for us the living, rather, to be dedicated here to the unfinished work which they who fought here have thus far so nobly advanced. It is rather for us to be here dedicated to the great task remaining before us—that from these honored dead we take increased devotion to that cause for which they gave the last full measure of devotion—that we here highly resolve that these dead shall not have died in vain—that this nation, under God, shall have a new birth of freedom—and that government of the people, by the people, for the people, shall not perish from the earth.

    Abraham Lincoln
    November 19, 1863.

    \\

    – A heartfelt “Thank you!” to all patriots who have, and continue to bravely serve this nation, on both foreign soil, and domestic.
    – A curse on our enemies, both foreign and domestic.
    – May God bless America, and may America bless God.

    \\

    – Those who support open borders are globalist scum and traitors. Heads on pikes.

    \\

    https://sofrep.com/news/deadly-shooting-near-fort-liberty-are-our-special-operations-forces-being-targeted/
    News
    Deadly Shooting near Fort Liberty: Are Our Special Operations Forces Being Targeted?
    by Guy D. McCardle | 2 hours ago

    2. “Fort Liberty” was known as Fort Bragg, before our “woke” DEI military went full Orwellian on renaming bases while insulting the white southern males who have been the mainstays of the U.S. Army’s combat arms and combat service support units, before white troops started refusing en masse to put their lives on the line for a government that hates them.

      “Every record has been destroyed or falsified, every book rewritten, every picture has been repainted, every statue and street building has been renamed, every date has been altered. And the process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right.”

      ― George Orwell, 1984

  24. Study: The Amount of Copper Needed for EVs Is ‘Impossible for Mining Companies to Produce’

    LUCAS NOLAN2
    7 May 2024

    The Michigan study highlights the fact that an EV requires three to five times more copper than traditional gas or diesel cars, not to mention the additional copper needed for upgrades to the electricity grid. As Professor Adam Simon from the University of Michigan points out, “A normal Honda Accord needs about 40 pounds of copper. The same battery electric Honda Accord needs almost 200 pounds of copper.”

    Between now and 2050, the world will need to mine 115 percent more copper than has been mined in all of human history up until 2018, just to meet current copper needs without considering the green energy transition. To meet the copper demands of electrifying the global vehicle fleet, as many as six new large copper mines must be brought online annually over the next several decades, with about 40 percent of the production from these new mines being required for EV-related grid upgrades.

    https://www.breitbart.com/tech/2024/05/27/study-the-amount-of-copper-needed-for-evs-is-impossible-to-produce/

    Steve Guest
    @SteveGuest

    WATCH: CBS’s Margaret Brennan laughs in Pete Buttigieg’s face when he is unable to explain why only 7 or 8 electric vehicle charging stations have been built despite the Biden admin spending $7.5 BILLION to build chargers.

    May 26, 2024

    https://x.com/SteveGuest/status/1794757740394684656

    1. It’s pretty obvious the PTB want us taking the bus. Only “the people who matter” will have cars if they get their way.

    3. ‘Impossible for Mining Companies to Produce’

      Practicability concerns don’t enter the thought process of politicians who tout climate change remedies.

    1. Bitcoin
      Bitcoinbtc
      $68,846.00
      -0.22%

      Forbes Digital Assets
      Janet Yellen Issues Serious $34 Trillion Warning As Bitcoin Predicted To Surge To $1 Million Price
      Billy Bambrough
      Senior Contributor
      I write about how bitcoin, crypto and blockchain can change the world
      May 27, 2024, 9:10am EDT

      Bitcoin Bitcoin (+2.1%) has surged over the last year thanks to a Wall Street earthquake and soaring expectations of a Federal Reserve dovish flip.

      The bitcoin price is currently trading at around $70,000 per bitcoin, up almost 400% from its post-FTX collapse lows in late 2022—with the market braced for what’s likely to be a game-changing 2024 presidential election.

      Now, after one legendary trader predicted the Federal Reserve will restart its money printer later this year, Treasury secretary Janet Yellen has issued a serious warning over the spiraling $34 trillion U.S. debt pile that some think could catapult the bitcoin price to $1 million over the next 18 months.
      …
      https://www.forbes.com/sites/digital-assets/2024/05/27/janet-yellen-issues-serious-34-trillion-warning-as-bitcoin-predicted-to-surge-to-1-million-price/?sh=1768215243be

    2. ChatGPT 3.5

      User
      How many cryptocurrencies exist?

      ChatGPT
      As of my last update, there are thousands of cryptocurrencies in existence, with new ones being created regularly. The exact number fluctuates due to new launches, delistings, and changes in the market.

      ChatGPT can make mistakes. Check important info.

    3. BRICS
      3 minute read
      BRICS Currency Launch Imminent: A Financial Game Changer?
      Joshua Ramos
      May 27, 2024
      The US Dollar Losing Ground Amid BRICS Trade Surge
      Source: Watcher.Guru

      Over the last year, the BRICS alliance has been working to develop its own native currency. Now, the final result of that work is nearing, as it could be poised to be a global financial game changer in 2024.
      …
      https://watcher.guru/news/brics-currency-launch-imminent-a-financial-game-changer#google_vignette

  27. “But if it’s not, it will sit on the market. Then you’re going to have to have a price drop. Then buyers will see they get a price drop. The sharks come out, and it will hurt you even more.”

    I smell blood in the water.

    1. So in HBB speak, the first price drop puts a target on your keister with the bullseye hovering over your winker. You are now primed for Schlongville!

    1. Priced out of home ownership – ‘It makes me want to throw up’
      Natalie Sherman – Business reporter, BBC News
      Mon, May 27, 2024, 4:51 AM PDT
      7 min read

      When Nathan Wilkins moved back in with his mother and sister in 2019, he hoped it would help him save money to buy a home.

      But in the years since, the US housing market has been transformed by rising rents, surging home prices, and a massive jump in mortgage rates, making homeownership seem ever more impossible.

      He and his sister are making more money than ever, the 32-year-old insurance adjuster from Utah says. But shelling out $2,500 (£1,960) a month in rent doesn’t leave much left over.

      “It’s like I’m playing a game that you can’t win,” he says. “The fact that we’re being priced out just makes me want to throw up.”
      …
      https://finance.yahoo.com/news/priced-homeownership-makes-want-throw-234959648.html

    2. Locked out of the US housing market? Here’s how to win ‘revenge’ in the meantime
      By Social Links for Ken Fisher
      Published May 26, 2024, 1:19 p.m. ET

      Hacked off with soaring housing costs and stubborn mortgage rates? Disgusted by skimpy supply and the fierce bidding wars that are now required to find a decent place to live?

      If you’re looking for revenge, buy mortgage-backed securities.

      No, investing in these lesser-known financial instruments won’t directly cut high housing costs. But it will position you to gain from a housing opportunity that has remained hidden by bond pundits’ persistent fixation on the Federal Reserve.
      …
      https://nypost.com/2024/05/26/business/locked-out-of-the-us-housing-market-heres-how-to-win-revenge-in-the-meantime/

  29. Do you worry that the soft landing cheerleaders’ unflagging optimism may be misplaced?

    1. 21 states where recession bells are ringing after unemployment jumps
      Story by tmohamed@insider.com (Theron Mohamed)
      • 15h

      – Rising unemployment in nearly half of US states points to a recession this year, one economist says.

      – 21 states have seen a jump in joblessness over the last year, Piper Sandler’s Nancy Lazar told BI.

      – Here are the states signaling a recession is on the way.

      Unemployment has risen sharply in nearly half of US states, paving the way for a recession later this year, one top economist says.

      Piper Sandler’s chief global economist, Nancy Lazar, highlighted 21 states to Business Insider where three-month average unemployment has risen by at least 0.5 percentage points over the past 12 months. The states in question account for over 40% of US GDP.

      When unemployment has jumped by that much, in that many states, a recession has almost always followed, Lazar said. The economic indicator is known as the “Sahm Rule.”
      …
      https://www.msn.com/en-us/money/markets/21-states-where-recession-bells-are-ringing-after-unemployment-jumps/ss-BB1n7GNa

    2. Yahoo Finance
      Data reveals rising economic ‘distress’ across America despite post-pandemic growth
      Adriana Belmonte·Senior Distribution Editor
      Updated
      Mon, May 27, 2024, 6:14 AM PDT
      5 min read

      A striking disconnect remains in the US economy: continued growth and softening inflation along with Americans’ pervasive pessimism and uncertainty about the future.
      …
      Insight into the disconnect arises from a deeper look into the lifeblood of the US economy: the states, cities, and towns that make it run. Data from the Economic Innovation Group’s (EIG) Distressed Communities Index shows that as of 2023, local economies across America still hadn’t fully recovered from the effects of the COVID-19 pandemic.

      According to EIG, which uses US Census Bureau data to sort districts by economic well-being, roughly 52 million Americans live in a “distressed” zip code. That’s up from 50 million in 2018.

      Distress scores are calculated based on weighted factors. Those factors include the number of residents with a high school diploma, the poverty rate, the number of adults not working, the housing vacancy rate, the median income ratio, changes in employment, and changes in the number of business establishments.

      EIG discovered that in recent years, urban areas across the country have become increasingly “distressed” while the surrounding suburbs are considered more “prosperous.”

      Take Cleveland: August Benzow, research lead at EIG, told Yahoo Finance that “almost every zip code in the city itself is distressed, but then you definitely see a lot of prosperity in suburbs.”

      ‘The pandemic has exacerbated this trend’
      …
      https://finance.yahoo.com/news/data-reveals-rising-economic-distress-across-america-despite-post-pandemic-growth-131451158.html

  31. ‘It is a different environment. We are now seeing more sellers than buyers,’ he said. ‘Sellers bringing their homes on the market during this period need to be aware of how buyers are pushing back. If your home is well priced in this environment, it will sell quickly. But if it’s not, it will sit on the market. Then you’re going to have to have a price drop. Then buyers will see they get a price drop. The sharks come out, and it will hurt you even more’

    So there’s no more shortage at compass Bob.

  32. ‘Two years into the most intense campaign of interest-rate hikes in decades, commercial real estate’s last bastions of support are faltering, with industrial and storage property owners succumbing to oversupply and slowing demand. Until recently, these two sectors were considered immune…distribution warehouses in and around cities such as Toronto and Montreal commanded some of the fastest-rising prices in the world. But just like the owners of office towers and rental apartment buildings before them, industrial and storage landlords are struggling with weaker valuations, darkening the cloud that has hung over the industry’

    ‘but industrial and storage properties could endure the early pain. What’s really doing damage now is too much development…And when they want to rent, there are lots of properties to choose from. ‘The difference is, people have choices’

    Every single time these clowns see a shiny penny, they think it’s a new paradigm and over do it. They bid everything up at the same time as they oversupply. Seeds of its own destruction.

  33. ‘So far this year it’s dead.’ She says bookings are down about 50 per cent year on year. But she says there’s no way she can lower rates. ‘You can’t make it pay for a two-night break. The third night is your profit. You can only drop your price by so much.’ Walker currently has eight buy-to-let properties in Manchester, down from 15. But she says there will soon be zero. ‘It’s not financially feasible and with landlord regulations [tightening] and doing away with Section 21, where you can’t get your own property back, [it’s not worth it]’

    via GIPHY

  34. ‘He says many holiday let owners are starting to give up. ‘Absolutely we’re seeing people looking to sell. Holiday let owners are like any business. If you can’t make good margins… because don’t forget they work in seasons. If they reduce prices, they’re losing money’

    The good news Matt is they can always sell. The market for money losing businesses is booming contrasted to 5% savings accounts.

  35. ‘Since September-October, as Asian and American foreigners have made their reservations, prices have declined and continue to fall a little every day..For example, a standard studio apartment in the 20th arrondissement of Paris, which usually rents for between €60 and €100 a night, now costs between €100 and €150 when rented during the Olympic Games’

    ‘Apartments are having a difficult time filling up,’ said Bellet, who noted occupancy rates of around 20% to 25% on the Airbnb platform. ‘It’s very quibig bonanzaet. Many are waiting for the last minute and to see prices drop even further’

    The big bonanza is gonna be an a$$pounding Romain. Thinking some goofs bouncing a ball around for a few weeks makes a market is irrational.

  36. ‘It makes me feel sick because I just want my tiny home,’ Ms Shannon said. ‘If I don’t get my tiny home, I want my money back’

    Yer not going to get either Valerie. If you had got it you’d have been pissed about the pallet interior.

  37. ‘The last year has been the hardest of my life. The constant feeling of dread and unknowing has taken its toll on my entire family.’ Jason has sought legal advice so that he can cancel his contract. ‘It will most likely mean our house will never be completed,’ he lamented. ‘It is looking more likely that we will need to sell the land and unfinished house as it is and lose out on the $150,000 we have already spent’

    It was still way cheaper than renting Jason*.

  38. ‘Its largest shareholder, state-owned Shenzhen Metro, and Shenzhen-based company Baishuoyinghai jointly bought the plot at Vanke’s reserve price, according to an online filing uploaded to a trading center in Shenzhen on Monday…Theirs was the only bid for the asset’

    It wasn’t even arms length. It would have been a failed auction otherwise. This is Shenzhen, how the mighty have fallen.

  39. Smears, jeers, and stoking fears. This WILL get ugly.
    The Celtic Canuck

    1 hour ago

    If you can’t beat them, vilify them!

    Being as they have nothing to run on and any promise they could possible make has already been broken … their go to, is the attack on conservatives. Politicians and populace alike.

    Get ready. This is going to get ugly.

    https://www.youtube.com/watch?v=PHWGvqJnGQ0

    13:49.

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