When The Market Is Softer, Price Becomes The Primary Lever For Sellers Wanting To Move Their Properties More Quickly
A report from Barron‘s. “Austin, Texas, is seeing some of the nation’s steepest price declines for luxury homes, coupled with a growing supply of listings. With more properties to choose from, buyers are much more discerning and have little patience for pie-in-the-sky home prices, said Bridget Ramey, real estate adviser with Kuper Sotheby’s International Realty. ‘If the listings are not appropriately priced, buyers don’t even want to play ball. The city’s luxury home prices have corrected since they peaked in late 2021 and early 2022. ‘Those numbers were not real, and they couldn’t sustain themselves,’ she said.”
The New York Post. “Financially-strapped real estate developer Mohamed Hadid claimed he’s the ‘victim’ of a predatory lender after filing for bankruptcy over a prized California property, The Post has learned. Their knock-down, drag-out dispute stems from a $31 million loan Vella’s company Skylark Capital gave Hadid’s Tree Lane LLC in 2018 to develop a four-acre lot in an exclusive Beverly Hills enclave. ‘I believe I was a victim and now I have to fight my fight,’ Hadid said. ‘They gave us enough money to hang ourselves and then they stopped funding.'”
From Newsweek. “About 6.4 percent of sellers decided to lower the price of their properties during the four weeks ending May 26, the highest level since November 2022, according to Redfin. Meanwhile, Redfin’s homebuying demand index fell 12 percent on a yearly basis and was down 7 percent compared to a month ago in what was the lowest level in three months. ‘People who are buying right now are typically doing so because they’re having a baby or looking for a more family-friendly home,’ Christine Chang, a Redfin Premier agent in the San Francisco Bay Area, said in the analysis. She suggested that buyers to be wide-ranging in their search. ‘Consider single-family homes that are a bit outdated but don’t need major renovations, and/or homes in lesser-known, non-trendy neighborhoods,’ Chang said. ‘That type of home tends to sit on the market longer, and buyers may be able to avoid competition and get a home for asking price instead of engaging in a bidding war. Buyers who can get by with less space should consider a condo; they’re relatively unpopular right now and many are going under asking price.'”
Tech Crunch. “AI mortgage startup LoanSnap is facing an avalanche of lawsuits from creditors and has been evicted from its headquarters in Southern California, leaving employees worried about the company’s future, TechCrunch has learned. LoanSnap, founded by serial entrepreneurs Karl Jacob and Allan Carroll, has raised around $100 million in funding since its 2017 seed round, $90 million of which was raised between 2021 and 2023, according to PitchBook. For instance, Wells Fargo filed a lawsuit in August 2023 for $431,000, alleging a loan it bought from LoanSnap violated the bank’s income-to-debt-ratio policies. Because LoanSnap defaulted on the lawsuit (meaning it failed to respond in a timely manner), the judge ordered LoanSnap to pay.”
“Then, 2024 brought more legal troubles. In January, Connecticut’s Department of Banking alleged the company was partaking in ‘systemic unlicensed mortgage loan’ activity by employing unlicensed people. One employee told TechCrunch that the company was eager to hire those without much mortgage experience, with the idea of training them so they could one day get licenses.”
The Wall Street Journal. “Seattle-based developer Tyler Carr set out to build apartments in Boise, Idaho, where rents were rising the fastest in the country. In 2021, his company bought land near the growing downtown with plans to develop 104 rental units. Three years later, his land remains an empty lot. When market conditions deteriorated, his strategy no longer made financial sense. Interest rates and construction costs rose, Carr said, ‘and those two things really converged to make the project unviable.’ While most developers get tripped up before real activity begins, a few have found trouble after starting construction, leaving them with half-built properties. In downtown Phoenix, work stopped last fall at a 25-story apartment tower that was most of the way up. Contractors filed claims for millions of dollars over unpaid work.”
“Some decline was inevitable. About half a million new apartments opened in 2023, the most in 40 years. Based on what is already under construction, analysts expect a similar number to be completed in 2024. In some cities, the surge in building has meant there are more apartments than can be quickly leased without cutting rents, making some investors skittish about adding more units. Many regional banks are souring on the commercial real-estate loans already on their books. ‘Their current portfolios are getting marked down and they don’t have that much to lend,’ said David Frosh, chief executive of Fidelity Bancorp Funding, a California real-estate lender.”
“In Worcester, Mass., about a dozen apartment projects with more than 2,000 units are delayed, according to a May report from the city’s economic-development office. Struggling projects include buildings with as many as 200 market-rate apartments and affordable housing, said Joshua Lee Smith, a real-estate attorney working with developers who have stalled projects in Worcester. ‘The interest rates are at a point where a lot of investors are sitting on the sidelines,’ he said.”
Commercial Observer. “Money-losing sales of loans secured by offices and other types of struggling commercial real estate are gaining momentum. Banks in particular appear to be offering to sell substantially more loans secured by office buildings and other commercial properties than they put on the market last year. For example, Canadian Imperial Bank of Commerce (CIBC) agreed to sell $316 million of loans on office buildings in Austin, Phoenix, Seattle and San Francisco at a discounted price, according to the Financial Post. Deal-breaking disagreements between lenders and potential buyers over the value of such loans have become less prevalent, said Michael Gontar, CEO of InterVest Capital Partners, a diversified company that buys commercial real estate loans secured by offices and other assets. ‘Last year, there was more of a disconnect on value,” he said. ‘In the last six months, we’ve seen that thaw quite a bit. Sellers are taking losses where they need to, which is basically everywhere.'”
From Bisnow. “Common Living, one of the largest co-living firms in the country, is shutting down. The firm, which had been growing during the pandemic through acquisitions of failed co-living companies, filed for Chapter 7 bankruptcy late Friday, indicating its plans to liquidate assets and cease operations. The filing in the U.S. Bankruptcy Court for the District of Delaware says Common has an estimated $1M to $10M in assets and $10M to $50M in liabilities. Its June 2021 acquisition of Starcity — which added 1,000 units in California, New York and Barcelona — helped push Common’s portfolio to more than 5,000 units by mid-2022. Starcity had previously taken over failed co-living startup Ollie. Common was growing its footprint as the pandemic sapped demand for shared apartments, as renters instantly grew wary of sharing small living quarters with strangers.”
The Globe and Mail in Canada. “The receiver for The One condo tower is seeking to sell Sam Mizrahi’s unfinished skyscraper, saying creditors won’t accept anything less than $1.2-billion for the troubled project. The One’s lenders are owed $1.5-billion after Mr. Mizrahi and the tower’s co-owner, road-paving magnate Jenny Coco, defaulted on loan payments during the construction of the luxury condo and hotel tower in downtown Toronto. The sale of the partly constructed tower is likely to be difficult given the history of the building, today’s high borrowing costs and a slowdown in the condo market. Just over 70 per cent of these large upper-floor condo units have not been sold. And of the 19 that have been sold, nine of the buyers are in default. The One is years behind schedule and had defaulted on multiple loans before it was put into receivership. In October, the project’s lead lender asked an Ontario judge to put a third party in control, alleging that the development owed $1.6-billion to its lenders and was hundreds of millions of dollars over budget.”
CTV News in Canada. “An Ontario mother said her mortgage payments are about to practically double – translating to more than $2,000 extra per month if interest rates don’t dip on Wednesday – and it’s ‘harder than anything’ she’s ever faced. ‘You’re asking for $2,100 to just be pulled out of the sky and still afford all of my kids’ medical needs,’ Shawna Wood, a 40-year-old mother of eight children – half of whom have health challenges – told CTV News. After renting a house in Oro-Medonte for a decade, the family of ten bought the five-bedroom house about two hours north of Toronto for $800,000 in 2021. At the time, they locked in a 3.2 per cent fixed rate for three years. She said the bank offered her a 7.1 per cent renewal rate, which would translate to a leap from $3,000 to $5,100 per month for mortgage payments. ‘It makes you sick,’ she said. ‘We worked so hard to be first time home buyers.'”
“Her husband has increased his workload from 50 to 70 hours a week. In anticipation of the impending interest rate announcement, Wood said she and her husband explored leaving the province, selling the house, and refinancing it. For Wood, these are the questions she goes to bed at night thinking about, and wakes up in the morning with them still on her mind. ‘You dwell on it 24 hours a day, on top of everything going on,’ she said. ‘There is no eating out. There is no sending your kids to camp because you have this gigantic mortgage increase that is sitting and weighing on us and the kids are the ones who suffer.'”
From SBS News. “Australians hoping to crack into the housing market could consider a stream of inner city suburbs declining in value, as prices in other parts of the country continue to soar. Both Melbourne and Perth have seen several inner urban areas dropping in value over the last five years, according to Domain’s latest House Price Report. Units in Melbourne’s Carlton have seen the biggest shift nationwide, with a 33.30 per cent decline to a median value of $320,000. Melbourne, North Melbourne and Brunswick West, all located within 3km of the CBD, also saw unit prices drop by roughly 13 per cent. A minimum of 50 sales are required to get the median price of house and units in the area. Both unit and house price values fell over the last five years in the inner city suburb of Perth East, declining almost 10 per cent to a median price of $351,625 and $492,000 respectively.”
Radio New Zealand. “The property market remains stalled with more houses for sale and asking prices still lower than a year ago. The biggest price fall was in Wellington with the average price plunging 13.4 percent on April to $739,497, the lowest since November 2020, and 14 percent lower than a year ago. Public service job cuts and a tighter job market could be weighing on the market and asking prices, said the site’s chief executive Sarah Wood. ‘When the market is softer, price becomes the primary lever for sellers wanting to move their properties more quickly. Unlike other factors such as location or property size, price can be adjusted.'”
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‘The receiver for The One condo tower is seeking to sell Sam Mizrahi’s unfinished skyscraper, saying creditors won’t accept anything less than $1.2-billion for the troubled project’
Stick to yer guns creditors, don’t give it away!
Delusional creditors seem to forget that Mr. Market gets a vote.
This is a fantastic location in downtown Toronto – the heart of Yorkville. This building had signed on Apple store for the anchor tenant.
But they futzed around for years and then could not build it even years behind schedule.
This is completely the fault of the naive developers. It is amazing that they got funding for this.
‘In downtown Phoenix, work stopped last fall at a 25-story apartment tower that was most of the way up. Contractors filed claims for millions of dollars over unpaid work’
This is THE holy grail of investing.
‘Last year, there was more of a disconnect on value,” he said. ‘In the last six months, we’ve seen that thaw quite a bit. Sellers are taking losses where they need to, which is basically everywhere’
How do you like those 5% cap rates now Mike?
‘If the listings are not appropriately priced, buyers don’t even want to play ball. The city’s luxury home prices have corrected since they peaked in late 2021 and early 2022. ‘Those numbers were not real, and they couldn’t sustain themselves’
Sound lending Bridget!
‘Consider single-family homes that are a bit outdated but don’t need major renovations, and/or homes in lesser-known, non-trendy neighborhoods,’ Chang said. ‘That type of home tends to sit on the market longer, and buyers may be able to avoid competition and get a home for asking price instead of engaging in a bidding war. Buyers who can get by with less space should consider a condo; they’re relatively unpopular right now and many are going under asking price’
That’s the spirit Christine, push those low balling knife catchers into action!
You will own nothing.
Common was growing its footprint as the pandemic sapped demand for shared apartments, as renters instantly grew wary of sharing small living quarters with strangers.
Such a ludicrous business model was only viable in a world awash with Fed funny money.
. The city plans to add 200,000 households to the list. Those people would then be eligible for a Section 8 lottery in August, which would choose 1,000 households a month for the program.
https://www.audacy.com/1010wins/news/local/nyc-gets-150k-applications-in-12-hrs-for-affordable-housing
Meanwhile. NYC is housing illegal invaders in hotels
And providing culturally appropriate meals. Because anything less is white supremacy.
Miami electronic road sign hacked to say “Arrest Fauci.” Justice is coming, globalist scumbags.
https://x.com/TONYxTWO/status/1797722584861282771
Florida is finished
And of the 19 that have been sold, nine of the buyers are in default.
Is that a lot?
‘You dwell on it 24 hours a day, on top of everything going on,’ she said. ‘There is no eating out. There is no sending your kids to camp because you have this gigantic mortgage increase that is sitting and weighing on us and the kids are the ones who suffer.’”
Gimme a minute to muster some vicarious anxiety and stress as I recline serenely in my cozy, reasonably priced rental shack and contemplate this FB’s tale of woe.
Nope, not feeling it.
At least it was cheaper than renting.
“…There is no sending your kids to camp….”
Is send your kids to summer camp an entitlement these days?
In my time, ‘summer camp’ was playing on the front lawn with a garden hose.
Is send your kids to summer camp an entitlement these days?
Must be a Canuck thing. Though I recall that Charlie Brown went to camp every summer, even though he hated going.
Is send your kids to summer camp an entitlement these days?
Growing up, I only recall the Jewish and Christian kids going to overnight camps.
*”In my time, ‘summer camp’ was playing on the front lawn with a garden hose.”
. . . and we LIKED IT !!!
The garden hose was for drinking out of.
WATCH: Brilliant Doctor CONFRONT Fauci on “making life difficult for unvaccinated”
Dr. Suneel Dhand
1 hour ago
More from the testimony on Capitol Hill
https://www.youtube.com/watch?v=b9MRAtY1zpM
5:43. From the comments:
Frankenfauchi and his comrades belong in prison.
I lost all confidence in the medical profession during and after covid. Will never trust another another doctor.
Faucci is not a medical doctor. He has a doctorate in biology. BIG DIFFERENCE
This guy is near single handedly responsible for crushing 10s of Thousands of small businesses.
Vallance, Harries, Whitty, Ferguson, Johnson etc etc etc (all from the UK) should stand trial and face punishment
Dr. Death is a arrogant, entitled, and miserable person.
I wake up everyday happy that im a pure blood. No Covid clot jab for me
Now that’s got to be one of the best ‘F you Fauci” responses I have seen dumped on the Dwarf.
Very cathartic to hear this. I chose not to be vaccinated against Covid because I was recovering from an autoimmune illness and did not want to jeopardize my recovery because of an insufficiently tested “vaccine”. In Melbourne Australia I was treated as a social leper. The social pressure was relentless and affected my relationship with my son who thought he was doing the right thing by pressuring me. I will never forget.
The difference between a conspiracy and reality? About 6 to 9 months.
I remember going through my Cancer treatment and coming in one day and seeing that half of my nurses gone because they didn’t want to get the shot and two of them were pregnant!!! And how about what we put our children through with the mask thing!!! Someone needs to do some jail time because they’re a bunch of criminals!!!
It is utterly despicable the amount of lives he destroyed!!
“Dr. of Fear’ is the perfect name for Fau-xi. My wife would come home from shopping and leave all the groceries outside for a few hours. She would do the same with mail. Then, she would use cleaning agents on everything that entered the house. I don’t blame her, but I would tell her to stop worrying. To this day, I’ve yet to receive the jab, and I’ve been around people with C-19 constantly … never again will I trust the government when it comes to a pandemic.
The only difference I see between fauci and Josef Mengele is fauci is right here in front of us and we got him.
I wasn’t allowed to see my grandmother when she was passing, she had to die alone even though I had already had covid and had immunity. what he’s done Against Humanity is wrong.
Canada has visually scrambled this video but we can still hear what was said.
Dont forget YT’s, FB’s and Googles part in this.
If the conclusion cannot be questioned, then it isn’t science.
I’m a Canadian and Life was very difficult for me and my family…I watched my son pressure to the shot, because his life was made difficult, and he developed myocarditis…a healthy 30yr old young man…now he and our family get to live with this fear that he may one day need a heart transplant…because of this shot…and YES we all got covid…but we recovered from this bad cold. There needs to be accountability for his crimes against the people of the USA!
He has blood on his hands, him and many others that conjured up this whole plandemic
My husband developed a seizure disorder after the Covid booster., too this day he has seizures that he takes Lacosamide for.
Saw a list of after effects of Covid Vaccine AND to my dismay, I am suffering from,at least two ailments in the list ?
All the young athletes that have dropped dead or are now forever disabled is so sad.
I hope one day to meet Fauci in person…
He may well evade prison but he knows he’ll need to be surrounded by security guards 24/7 for the rest of his life. Hardly an ideal retirement. He’s made a lot of enemies.
To the vaccinated people who victimised the ones who didn’t want the vax……Always look on the bright side of life. Just remember the last laugh is on you.
“making life difficult for unvaccinated”
Gallup — American Public Opinion and Vaccination Requirements (9/3/2021):
https://news.gallup.com/poll/354506/update-american-public-opinion-vaccination-requirements.aspx
Never forget, voters elected (most of) the politicians who forced this on you.
They voted for it. and they’ll vote for it again.
Disease X, bird flu, whatever else they’re cooking up in the lab right now, they voted and will vote to poison you and you’re whole family.
Fauci needs to hang ☠️
Damn it’s good to be a PureBlood.
Just remember the last laugh is on you.
They will never believe it. Even if they go into cardiac arrest, they will blame it on global warming.
One neighborhood in East Oakland is so dangerous that construction workers apparently feel unsafe. A construction crew left a residential street unpaved and refused to return because the workers did not feel safe being in the neighborhood.
The situation has left Sobrante Park residents with their street torn up and reduced to gravel with gaping potholes. Resident Shari Angarano said the unfinished road work made bumpy driving conditions on Colorados Drive go from bad to worse. Workers abruptly left midway through the project — and never returned.
“I called and the engineer with the City of Oakland said that contractor pulled out because the crews didn’t feel safe,” Angarano said.
https://www.msn.com/en-us/news/us/repaving-crew-abandons-oakland-neighborhood-citing-safety-concerns/ar-BB1nz2wN
This is what a collapsing civilization looks like: Orkland.
Mogadishu!
In other Orcland news, 7-11 has now permanently closed both of it’s corporate owned locations due to safety issues. The food desert is growing. However, they are opening their new baseball stadium today! The Oakland B’s (Ballers) will be playing farm league at a little league field for the diehard baseball fans who will no longer have the A’s to watch as they are escaping to Sacramento and then allegedly on to Las Vegas after the Tropicana is torn down and converted into a stadium site. The city is unloading their stake in the A’s stadium to a black owned investor group that is going to diversify it or something. Meanwhile the county DA announced a special news conference where she was going to reveal her new ‘Chinese name’. Being a black woman who is soft on crime and rarely prosecutes crime against asians, this angered the Chinese so the big reveal got canceled. It came out that this is a somewhat common practice and even Kamala Harris announced a Chinese name when she was doing the law enforcement thing back in the day. Since all of this is very hard to believe here is a helpful link:
https://nypost.com/2024/05/29/us-news/california-da-pamela-price-mocked-over-plans-to-announce-chinese-name/
“Mohamed Hadid claimed he’s the ‘victim’”
Here comes the victim parade…..”they should’ve never given me the money….😭😭”…..what a dumb-@$$!
The Alameda County District Attorney’s Office is taking heat for declining to file charges against a felon who deputies say stabbed someone in Hayward.
Robert Barroca, 59, has a lengthy violent criminal history and poses a danger to the public, according to the Alameda County Sheriff’s Office.
He allegedly pointed a flashlight in a victim’s face and stabbed him when the victim tried to walk away in Meek Estate Park in Hayward on January 30, ACSO said. Deputies said they found the 52-year-old victim “bleeding from his abdomen, with his intestines protruding.”
Hayward Area Recreation and Park District rangers were familiar with Barroca, who was known to carry weapons and linked to several other incidents in the same park, ACSO said. On May 16, a ranger saw Barroca back in Meek Estate Park and notified the Sheriff’s Office. Deputies found Barroca behind a fence of a nearby residence with gloves, a ski mask, and a flashlight.
“Investigators presented Barroca’s case to the Alameda County District Attorney’s Office, who declined to file charges against Barroca for the violent attack,” the Sheriff’s Office wrote on Thursday.
Haaziq Madyun, a communications director for the DA’s Office, told KRON4 that a veteran deputy district attorney made the decision.
Madyun told KRON4 on Friday, “This matter was reviewed by a veteran charging deputy district attorney in our office, who made a determination to defer this individual to our federal law enforcement partners. If additional information is discovered supporting charging this individual, the Alameda County District Attorney’s Office will do so.”
Barroca’s criminal history includes attempted murder, assault with a deadly weapon, weapon violations, battery, and drug violations. Deputies contacted his federal probation officer.
“His federal probation officer sought an arrest warrant for Barroca on a federal probation violation due to his ongoing threat to the community. On May 30, 2024, the U.S. Marshals located Barroca and took him into federal custody. They searched Barroca’s residence and located additional violations,” the Sheriff’s Office wrote.
https://www.msn.com/en-us/news/crime/alameda-county-sheriff-seeks-help-from-feds-after-da-declines-to-file-charges/ar-BB1nprK8
“declining to file charges”
George Soros has the receipts, because he paid for it.
Financier, what kind of job title is that exactly. They like to throw in “philanthropist” too, but what is he a financier of?
Some alleged humans aren’t human. They are parasites. They are vermin.
California is collapsing.
“Barroca’s criminal history includes attempted murder, assault with a deadly weapon, weapon violations, battery, and drug violations.”
Well it’s not like he listed a check under legal fees or anything.
Alameda County District Attorney Pamela Price announced Monday she had cut plea deals to drop murder charges for two of the three men accused of killing a man who was found strangled to death on the side of an Oakland Hills road in 2021.
Price said the deals reflected that the men had “accepted responsibility for their actions” in the home invasion robbery, kidnapping and murder of Benjamin Hemmann, whose body was discovered in the Oakland Hills bound, gagged and strangled to death.
Price, who is set to face a recall vote later this year, has drawn criticism for granting plea deals in the past. Her critics, including prosecutors who have resigned since her election, say she has prioritized defendants over victims.
Last year she sought to disqualify a judge who rejected her plea deal for an alleged triple killer, a deal that drew criticism from victims’ family members.
https://www.msn.com/en-us/news/crime/pamela-price-cuts-plea-deals-in-brutal-kidnap-murder-of-man-found-gagged-strangled/ar-BB1nzKGX
How long until victims families take action against DA’s?
Walking the dog.
I suspect that these scumbags know better than to leave themselves vulnerable like that.
Thousands of Teslas are sitting idle at Australian ports as interest in electric vehicles stalls and new and more affordable options enter the Australian market. Aerial photos of a port in Melbourne highlight the dramatic shift as Teslas that once rolled off the assembly line to eager buyers now simply wait to find a home.
The aerial vision was captured by 7News with the network melodramatically referring to the scene as a “Tesla graveyard”. However it does illustrate the changing gears of the Aussie EV market which has been full speed ahead in recent years.
Industry experts warn the slowing rise in sales is the result of a lack of proper infrastructure coupled with the fact that people are becoming more price conscious, particularly as more options hit the market.
“All of a sudden we’ve got a huge backlog of Teslas that aren’t moving… They’ve just stoped moving,” Victorian Transport Association’s Peter Anderson told 7News.
“Teslas usually come into this country pre-sold, these cars aren’t,” he added. “They’re sitting here waiting for buyers.”
In Victoria alone, some 2000 Teslas arrive in Port Melbourne every month and road authorities say they’re starting to pile up.
Purchases more than doubled in 2023 compared to 2022, which continued the trend of sales doubling year-on-year in Australia since 2020. Despite ongoing demand in the community, car expert Paul Maric told Yahoo Finance last week that prices might not have bottomed out just yet.
“I think it could go further,” he said.
“It’s all been spurred on by Chinese brands who have started bringing in much more affordable electric vehicles to what we’re used to,” he said.
Maric explained how there are boatloads of Teslas arriving in Australia at the moment with no buyers and “the only way they can get rid of them is by dropping the prices”.
“You’re talking about a car that somehow has lost almost $20,000 overnight or over a period of several months for no reason at all other than to sell more stock,” he said.
https://au.news.yahoo.com/tesla-graveyard-photo-shows-major-shift-in-aussie-ev-market-222758407.html
I don’t want any EV, and especially not a Chinese EV. They are a lot cheaper than Teslas but who knows how long one will last and just what kind of death traps they are.
“….not a Chinese EV….”
If they are manufactured to the same pathetic standards as all the cheap pot-metal Chinese hardware that is currently sold in the big box stores, it is hard to believe they will last more than a few years.
I would never advise anyone to park one of those things in any kind of garage due to extreme fire hazard. [Kinda’ like having a 55-gal drum of gasoline in your garage (which people actually did during the gas shortages in the 70’s)].
Wouldn’t be surprised one iota if insurance companies start making exclusions for EV’s in fire / homeowner policies because of fire risk [or use as an excuse to bump up rates]
Do you worry about higher-for-longer interest rates eventually catching up with stock market valuations?
5 moves investors can make as they navigate extreme speculation with the potential for huge losses, according to elite investor Gary Shilling
Jennifer Sor
Jun 3, 2024, 10:03 AM PDT
…
https://markets.businessinsider.com/news/stocks/recession-stock-market-crash-investing-strategy-economy-downturn-gary-shilling-2024-6
Markets
Pimco Says ‘Generational Reset’ on Yields to Spur a Bond Revival
– Sees receding inflation to affirm US neutral rate at 2% to 3%
– Says markets ignoring recession risk makes bonds a cheap hedge
By Michael Mackenzie
June 4, 2024 at 6:00 AM PDT
Forget the stock market or private credit. Fixed income will outstrip other asset classes after “a generational reset higher in bond yields,” according to one of the world’s biggest bond managers, Pacific Investment Management Co.
“Active fixed income is positioned to perform well if there are no recessions over our secular horizon and to perform even better if there are,” Pimco’s Richard Clarida, Andrew Balls and Daniel Ivascyn wrote in an outlook released Tuesday. As prices climb and inflation recedes, they expect bonds will be even more attractive than cash.
…
https://www.bloomberg.com/news/articles/2024-06-04/pimco-says-generational-reset-on-yields-to-spur-a-bond-revival
Yahoo
Motley Fool
Here’s What Happens to Your Money When the Stock Market Crashes — and How to Protect Your Investments
Katie Brockman, The Motley Fool
Wed, May 22, 2024
4 min read
Despite currently experiencing a booming bull market (with the S&P 500 up by more than 48% from its low in 2022), many investors are already worried about when stocks will take a turn for the worse.
The market can be incredibly unpredictable in the short term, so it’s anyone’s guess how long this bull market might last. But downturns are a natural part of the market’s cycle, so we do know that at some point, a bear market is unavoidable.
…
https://finance.yahoo.com/news/heres-happens-money-stock-market-090000535.html
To me its so ridiculous and obivious that they won’t take the fake and inaccurate PCR testing off market, as well as the failed gene therapy technology they want to put in everything now.
They are using the same inaccurate PCR testing to determine Bird flu, Cow flu, and anything they want to manufacture.
The fake and inaccurate PCR test was the basis of the Covid 19 Panademic in which the regular flu disappeared and people were killed in hospitals by mal practice treatments. They suppressed viable drugs like ivermectin that had a high cure rate.
So, as long as they keep a inaccurate fake test on the market to determine any Panademic they want to manufacture, and manufacture fake vaccines not fit for human consumption, than the epic fraud continues.
They are now in the process of introducing. the failed gene therapy vaccine for cancers, or just about anything.
The evidence shows the Covid 19 Panademic was faked by fake PCR tests, than on a global scale billions were injected with fake vaccines that caused death and injury of millions.
There should be Congressional hearings on the inaccurate fake PCR test, that was and still is the basic of the fraudulent Panademics to begin with .
While they distract you with arguments over man made bio weapon verses virus coming from nature, the elephant in room is fake PCR testing and fake vaccine technology.
So, it wouldn’t be logical that evil Powers that Be would release a bio weapon that could polish off all humans and animals, including themselves.
This narrative that they created gain of function bioweapons, so they can create the solution of vaccines is ridiculous.
Its like the Climate Change doomsday narrative whereby they create the solution of Zero policy carbon emissions by 2050, which would render earth not habitable, if they actually did it.
From the time they introduced the footage of the Chinese people falling in the street from the C virus, it was clear that there was something fishy in Denmark.
And the lockstep compliance to this manufactured Covid Panademic solutions by the Governments of World was evidence of captured governments in collusion on the biggest fraudulent fake Panademic in history, along with Climate Change doomsday fake narratives.
They are using the same inaccurate PCR testing to determine Bird flu, Cow flu, and anything they want to manufacture.
Why wouldn’t they? People tripped over each other to get tested with it.
Let them take it, it’s called DARWIN THEORY!
While they distract you with arguments over man made bio weapon verses virus coming from nature, the elephant in room is fake PCR testing and fake vaccine technology.
Correct. Which means that the Ivermectin and Wuhan lab leak controversies are also sideshows and distractions from the main issue. If you can’t accurately diagnose a disease, or even describe its symptoms in a way that distinguishes it from other diseases, then it makes no sense to speak of the origins of or possible cures for the disease.
NB: A few posters here have said that loss of sense of taste/smell is a distinguishing feature of Covid-19. But I’ve had plenty of colds/flus in the past, during which I temporarily lost my senses of taste and smell. And I’ve never heard any medical professional say that if you have normal taste and smell, then you don’t have Covid-19.
Lies were told. Money was made. People were hurt, but that doesn’t matter.
**”With more properties to choose from, buyers are much more discerning and have little patience for pie-in-the-sky home prices, said Bridget Ramey, real estate adviser with Kuper Sotheby’s International Realty . . .”
keywords in that statement are “discerning” & “patience”.
can’t help but notice the big difference in tone from this real estate person vs. the usual scolding, pissy diatribe in the past from angry realtors raging against cautious buyers such as
“fence sitters” & “refuse to pull the trigger!”
you could just FEEL the raging desperation come through the words as their self-inflicted wounds bled them dry to the generic WalMart aisle as the tide went out, schlepping the case of ramen out to dad’s borrowed Chevy.
A domestic brand. my god, how far have we fallen!?
the horror. the horror
Wait until these realtors find out how little they can earn with a real job.
let’s not forget that the buyer’s half of the ripoff percentage disappears in a month.
The FDA just approved RSV vaccine for over 60 years old for Moderna ,
using the same failed technology gene therapy used in the lethal fake Covid vaccines.
So, even if they take one application off the market, they will put the lethal technology in another application like Cancer vaccines, they are in trial stages on.
Since this RSV vaccine is approved for over 60. I expect this is another attempt to polish off a specific age group over 60 .
It doesn’t matter that the compliance rate on Covid boosters have dropped to way under 10%, because just put the lethal technology in a new vaccine .
I have said it all along that they will refuse to take this failed gene therapy off the market, and they will just transfer it to other products addressing different diseases.
Just like they won’t take the fake and inaccurate PCR test off the market.
The FDA just approved RSV vaccine for over 60 years old for Moderna , using the same failed technology gene therapy used in the lethal fake Covid vaccines.
Next step: your doctor browbeats you into getting said “vaccine”. Millions and millions of oldsters will comply and who knows how many years will be shaved off their lifespans. Since they are already old, if they die of suddenly it will be chalked up to their age and poor lifestyles.
Sending oldsters to an early grave will help our “leaders” solve all sorts of problems, like funding medicare and social security, as the dead don’t collect benefits.
Nobody questions people over 60 dying , in spite of the US stats showing excess mortality of 1 million one hundred thousand seniors post fake Covid vaccine.
So, the Health Authorities and fake news say that 14 million people were saved by the Covid vaccines, yet the evidence shows 20 million excess deaths and even more injuries post vaccines like heart problems and turbo cancers.
say that 14 million people were saved
My Ex used to say she saved money when buying crap we didn’t need that was on sale.
If you’ve made it to 60 in this life and are unwise, unlearned, or just so deep Blue as to get a vaccine for nothing, you deserve what you get.
Also Mike Adams just interviewed a Japanese Dr who claims that in Oct they plan to roll out self replicating MRNA vaccines already approved by Japanese Government.
The Japanese people are currently protesting,but it isn’t making the news as it should.
But, apparently self replicating vaccines are a technology that the vaccine spreads to people who don’t take the vaccine also.
If what the Doctor says is true, than one has no protection against the self replicating vaccine by refusing to take the vaccine.
And how could such a technology be approved for human use in that you have no choice in it affecting you.
Hmmmm … that sounds like a virus, and not a vaccine.
“Since the beginning of 2023, we’ve had over 300 hydrants stolen, and it’s been ramping up in 2024
https://www.cbsnews.com/losangeles/news/water-company-installs-locked-shields-over-fire-hydrants-in-south-la-to-prevent-theft/
$3500 for a new one?? I need to set up a contract with them and then pay some bums 100 bucks a piece for ‘used’ ones. Easy money.
Some people are predicting that a nationwide collapse will happen by 2035. I don’t know if it will be nationwide, but maybe the lights will go off in places like California
“…but maybe the lights will go off in places like California…”
Was just reading on one of the local blogs about a mass street light copper wire theft in nearby Long Beach.
😂
The Vigilant Fox 🦊
@VigilantFox
Trump Hater Crumbles as Piers Morgan Asks One Simple Question
PIERS MORGAN: “Why is Bill Clinton able to have sex with an intern in the Oval Office when he’s President and lie to the American people about it on national television? And why is he able to pay off Paula Jones $850,000, four times as much, five times as much as the Trump payment to Stormy Daniels, to get rid of a sexual harassment claim, again, while he’s President, and he has no criminal court recourse for that? Why is that deemed to be better than what happened with Trump and Stormy?”
FRANCESCA FIORENTINI: “I don’t think anyone is making that case, Piers.”
PIERS MORGAN: “No, I’m asking you, what’s the difference? What’s the difference?”
FRANCESCA FIORENTINI: “The difference is that he didn’t cook the books financially using his own, like using back channels in order to pay.”
PIERS MORGAN: “So paying somebody off who says you sexually harassed her, paying her nearly a million dollars while you’re the President of the United States and then having sex with an intern in the Oval Office and lying about it, that’s fine because he’s a Democrat?”
FRANCESCA FIORENTINI: “Only the leftists in your mind are making that argument.”
PIERS MORGAN: “Sorry?”
1:23 AM · Jun 4, 2024
1:31
https://x.com/VigilantFox/status/1797861702584688994
The difference is that he didn’t cook the books financially using his own, like using back channels in order to pay.”
So, he’s a felon because his accountant made a mistake?
Regarding Trump trial. They just made up a felony allegation, so they could toll the Statute of Limitations, on a alleged crime that isn’t even within jurisdiction of the New York Court.
Also Judge refused to Recuse himself as Judge in spite of prejudice uncovered. Judge refused a change of venue. Judge gave prejudicial Jury instructions apparently, obstructed evidence during trial, and other stuff that made it a true kangaroo court.
It isn’t a crime to have a non disclosure agreement and pay off a person apparently. If the payoff was listed under Attorneys fees, than at worst it would be a misdemeanor, with a 2 year statue of limitations, that was clearly beyond statue to prosecute.. And some attorneys would argue that you can put “Attorneys fees” to cover these matters because it preserved the Attorney/Client privilege.
And the star witness Michael Cohen sued Trump in 2018 for attorney fees of all things.
So this is a convoluted case of a beyond statue of limitations misdemeanor, trumped into a felony that the New York Court didn’t even have jurisdiction to try in a New York State Court.
And a convicted felon named Michael Cohen was their star witness, as well as Stormy Daniels who has changed her story a number of times.
Some lies were told. Still are. Whoppers.
So, he’s a felon because his accountant made a mistake?
Trump does not do his own taxes. No way. I had foreign corporation for 1 year and I had to pay someone to fill out a form with essentially $0.0s everywhere. I couldn’t even determine which one of the 7 “buckets” of “person” I was.
For some reason people with TDS think Trump does his own taxes even if they don’t do their own. Now with that said, he is responsible for his taxes but , come on, how complicated are his taxes. And CPAs frequently make different tax assumptions. I think it was Money magazine would have a number of CPAs calculated the taxes on an artificial family and almost all the CPAs got the “wrong” amount and the taxes varied between the CPAs.
This should be shared with not only just our country but the world.
Erin Elizabeth Health Nut News 🙌
@unhealthytruth
Wow. 😎‼️‼️‼️Dr Rich McCormick was one of the doctors censored in 2020, ran for office, won, and is now grilling Dr Fauci over his covid policies🥤😀🍿
Fauci committed #CrimesAgainstHumanity
He lied about jabs , masks, ivermectin and much more.
2:43 AM · Jun 4, 2024
5:33
https://x.com/unhealthytruth/status/1797881802654355889
I have relatives who brag that they are still getting Covid boosters.
Nightcap
A shady financial tool from the housing-bubble era is making a comeback
Analysis by Allison Morrow, CNN
4 minute read
Updated 11:52 AM EDT, Mon June 3, 2024
Zero-percent down mortgage makes a comeback. Here’s how it works
New York
CNN
—
America’s gummed-up housing market is a $45 trillion mess — a big old knot of economic forces smashing into a century’s worth of cultural conditioning about the value of homeownership.
There are some obvious, urgent needs: We need more housing, full stop. And that housing needs to be affordable. And we should probably stop letting Wall Street firms become landlords for the sole purpose of extracting capital from renters who could otherwise build equity.
Point is, policymakers aren’t running out of puzzles to solve when it comes to housing. Perhaps the last thing the market needs is another shady financial product that pushes low-income Americans into homes they can’t afford, under terms that could bankrupt them.
And yet, here we are. The zero-down mortgage is making a comeback, my colleague Matt Egan reports.
Two weeks ago, one of the nation’s largest mortgage lenders rolled out a “new” program (I put new in quotation marks because, well, we’ve seen this movie before) that allow first-time homebuyers to secure their purchase with no money down.
Zero down. Lots on the line
Let’s briefly get into how it works, and then we can talk about why it’s a huge red flag for anyone with passing understanding of the 2008 financial crisis.
…
https://www.cnn.com/2024/06/03/business/zero-down-mortgage-nightcap/index.html
Truly pathetic.
Riley Gaines
@Riley_Gaines_
Would you look at that…the thing that never happens happened again.
🚨Veronica Garcia (Donovan Brown) just won the Washington State Championship in the girls’ 400m in total domination.
In Washington & Oregon this past week, the fastest “girl” in the each state has been a boy.
6:37 PM · May 25, 2024
https://x.com/Riley_Gaines_/status/1794498037014048977
Marxists gonna Marx.
On one hand I find most women’s athletics to be boring and uninteresting. On the other hand it is pathetic that dudes compete with the girls. If it was me, I would be embarrassed.
Trans like to be aggressive and defiant, i.e., in your face.
If it was me, I would be embarrassed.
I gotta hope the guys in the school are giving him a raff of $hit.
I hope they are, but part of me says he is celebrated as stunning and brave. At the risk of sounding old, He would have gotten $hit every day 30 years ago.
A little backstory on one of the companies mentioned in the WSJ article on Boise …
https://boisedev.com/news/2024/05/17/galena-tacoma/
Galena started on—and soon stopped working on—a construction project to add 360 apartments, retail space, and office space to a site near Meridian City Hall. A Galena rep initially said the removal of a crane on the project was to make way for two new cranes. The new cranes never showed up. They then said financing delayed the project, but it would restart soon. It didn’t. Last September, the developer said financing was secured and again promised construction would restart soon. It didn’t. Now, Galena faces millions of dollars in lawsuits and liens, was evicted from its Boise office space, and Meridian council members are worried about having their version of the Boise “hole.”
Trudeau EXPOSED: Lying about Fixing the Housing Crisis!
Jon Flynn Real Estate Stats
1 hour ago
In a recent podcast from The Globe and Mail newspaper Justin Trudeau was quoted saying “housing needs to retain its value” while trying to pander to the majority of homeowners in Canada while at the same time promising to build affordable homes that middle class young Canadians can afford to buy. He’s lying to someone and I’m calling him out for his political nonsense
https://www.youtube.com/watch?v=ZDHCDGLcfFM
15 minutes.
Even if he has to give up the PM job, there will be no consequences to all his crimes and he will end up working a juicy job at at leftist think tank in DC.
‘If the listings are not appropriately priced, buyers don’t even want to play ball. The city’s luxury home prices have corrected since they peaked in late 2021 and early 2022′
As soon as rates ticked up just a bit, Austin started sinking like a turd in a well and hasn’t stopped since. Or I should say greater Austin cuz they call 5 surrounding counties Austin, but it isn’t.
‘I believe I was a victim and now I have to fight my fight,’ Hadid said. ‘They gave us enough money to hang ourselves and then they stopped funding’
In New York they have a term Mohamed, loan to own.
‘Wells Fargo filed a lawsuit in August 2023 for $431,000, alleging a loan it bought from LoanSnap violated the bank’s income-to-debt-ratio policies. Because LoanSnap defaulted on the lawsuit (meaning it failed to respond in a timely manner), the judge ordered LoanSnap to pay’
Didn’t even get a lawyer for the process. In the article they ask where did the 100 million pesos go?
‘While most developers get tripped up before real activity begins, a few have found trouble after starting construction, leaving them with half-built properties. In downtown Phoenix, work stopped last fall at a 25-story apartment tower that was most of the way up’
Are we there yet?
‘Last year, there was more of a disconnect on value,” he said. ‘In the last six months, we’ve seen that thaw quite a bit. Sellers are taking losses where they need to, which is basically everywhere’
When rates headed up and the wheels fell off, the CRE media kept asking, where’s the distress? It’s red hotcakes! Eat yer crowz.
via GIPHY
‘Its June 2021 acquisition of Starcity — which added 1,000 units in California, New York and Barcelona — helped push Common’s portfolio to more than 5,000 units by mid-2022. Starcity had previously taken over failed co-living startup Ollie’
You’ve been disrupted.
‘It makes you sick,’ she said. ‘We worked so hard to be first time home buyers’…For Wood, these are the questions she goes to bed at night thinking about, and wakes up in the morning with them still on her mind. ‘You dwell on it 24 hours a day, on top of everything going on,’ she said. ‘There is no eating out’
You know Shawna, think about how you could be a winnah! if the ten of you just stopped stuffing expensive food in yer pie holes!
‘When the market is softer, price becomes the primary lever for sellers wanting to move their properties more quickly. Unlike other factors such as location or property size, price can be adjusted’
That’s the spirit Sarah, talk em down out of that tree!
Rolling Stones — All Sold Out:
https://m.youtube.com/watch?v=nRXDFIyJ4ko&pp=ygUbcm9sbGluZyBzdG9uZXMgYWxsIHNvbGQgb3V0
The Kinks — You Can’t Win:
https://m.youtube.com/watch?v=DHYyX3k_HVg&pp=ygUWdGhlIGtpbmtzIHlvdSBjYW50IHdpbg%3D%3D
Spencer Davis Group — Let Me Down Easy:
https://m.youtube.com/watch?v=T4uwxRLj9uk&pp=ygUlc3BlbmNlciBkYXZpcyBncm91cCBsZXQgbWUgZG93biBlYXN5IA%3D%3D
Cream — Take It Back:
https://m.youtube.com/watch?v=3ttHUBAqpTA&pp=ygUSY3JlYW0gdGFrZSBpdCBiYWNr
Transistor radio time for me when I was 9 going on 10.
Tighter, Tighter · Alive ‘N Kickin’
https://youtu.be/tu9XxGpXXvE?si=ji99rL7wlUw-OGDx
Now you have some mainstream news outlets saying that their might be a link to injury and excess deaths involving the Covid vaccines.
This needs some investigation they say.
So, they will take their good sweet time, while innocent people.die. Than maybe very belatedly they will take the remaining Covid Vaccines off the market because their compliance on Covid boosters are down to way under 4 % anyway.
Than they will put the lethal failed gene therapy in new products like cancer vaccines, RSV and regular flu vaccines, and the new Bird Flu vaccine they are cooking up.
This.deserves study or investigation I have been hearing them say for decades and decades, on matters they already studied, or matters they never intent on studying.
So a shift to other products, while it being same lethal failed technology is the new slight of hand they expect to pull off.
Plizer CEO said , “Cancer is the New Covid 19,” as they are in trial stages on Cancer vaccines using MRNA techno!ogy. RSV vaccines have already been approved for the over 60. Same technology will be used in the Bird Flu vaccine they are cooking up .
So a Statement by the press that Covid vaccines need to be investigated is useless. Who is going to investigate it, certainly the current MSM isn’t going to investigate it.
The truth is that it has already been investigated and the evidence shows it was a faked Panademic, with fake PCR testing, than fake vaccines deployed,
causing mass genocide and serious injury.
Now you have some mainstream news outlets saying that their might be a link to injury and excess deaths involving the Covid vaccines.
And some people are still getting the “boosters”/
This Won’t End Well For Everyone (Toronto Real Estate Market Update)
Team Sessa Real Estate
2 hours ago TORONTO
In this episode we take a look at the current Toronto Real Estate Market specifically the detached home prices and market trends for week ending May 29, 2024. We also discuss why it’s going to be a difficult task to have homes retain their values for seller’s while also making things affordable for potential buyer’s. We see so many examples of this with Seller’s who are looking to retire but are requiring a certain amount of money to do so. The market is not necessarily playing in their favour right now.
https://www.youtube.com/watch?v=IJxrNM1ne5I
13 minutes.
SHOCKING … but only if you’re shocked by corrupt politicians.
The Celtic Canuck
2 hours ago #canada
Well here we are again – another scandal – another ripple of outrage … and i still don’t see anyone in handcuffs. Happy Tuesday!
https://www.youtube.com/watch?v=hqIfE99bxPA
4:36.
How Pelosi like.
0:07
https://youtube.com/shorts/OuNPbqsoDus?si=hNWZ9VfrRrTZYQKB
House Speaker Nancy Pelosi has accrued millions from husband’s trades: report
By Social Links forAllie Griffin
Published Oct. 5, 2022
Updated Oct. 29, 2022, 8:31 p.m. ET
House Speaker Nancy Pelosi’s net worth has ballooned since the 2008 financial crisis — with the help of her husband’s lucrative stock trades, a report said.
Pelosi — who recently backed a ban on trading for lawmakers and senior government officials — has seen her assets increase by a hefty $140 million, according to the Washington Free Beacon.
The speaker, one of the richest members of Congress, has vehemently denied sharing any information with her spouse — a venture capitalist.
However, many have questioned trades made by Paul Pelosi that happened to coincide with major congressional decisions.
In June, he exercised call options to purchase up to $5 million in the graphics card manufacturer Nvidia just weeks before the House considered a bill to provide more than $50 billion in subsidies to domestic semiconductor manufacturers, the Beacon said.
He also bought up Tesla stock in March as his wife pushed for electric vehicle subsidies.
https://nypost.com/2022/10/05/house-speaker-nancy-pelosi-has-accrued-millions-from-husbands-trades-report/
and i still don’t see anyone in handcuffs
Handcuffs? I expect these crooks to get cushy private sector jobs with huge salaries when they “retire” from public service.
I just got the mail in ballot for the congressional primary election here in Colorado district4, where Lauren Boebert is running.
There is another candidate, named Deborah Flora, who is trying to pass herself off as “tough on illegal immigration”. Yet when pressed on mass deportations she says that is a “nuanced matter”. In other words, she’s a business as usual RINO
Mass deportations are necessary after the criminal activities of Joe Biden and the people who control his administration.
It’s sad it has come to this, but decades of malfeasance have consequences.
Frankly, we should be using the military to execute the cartels with drones. But that’s just my opinion. Makes more sense than bombing Af-Pak.