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Every Day There’s So Many Listings Coming On The System And So Few Sales

A report from Bisnow. “On the heels of probes by Freddie Mac, Fannie Mae and federal regulators, the country’s most active mortgage brokerage is moving to shore up its standards with a new hire. Meridian Capital Group has appointed Melissa Martinez, previously at real estate intelligence firm CoreLogic, as its first chief risk officer, The Wall Street Journal reports. Martinez will help the Manhattan-based brokerage create its own risk and control framework. ‘If you think about the mortgage broker industry today, there really are no standards,’ Martinez told the WSJ. ‘This will be the very first risk capability that will be stood up within the industry.'”

“By April, both Freddie Mac and Fannie Mae had ‘effectively blacklisted’ the firm after uncovering allegations that some brokers falsified figures in order to secure bigger mortgages for their clients, the WSJ reported. The brokerage’s close relationship with New York Community Bancorp, which sent shockwaves through the market when it appeared near collapse earlier this year, attracted further scrutiny from regulators. Martinez’s role isn’t the only shift to improve standards at Meridian. The brokerage also introduced a series of policy measures intended to help with fraud detection, the company announced in April.”

From Fortune. “Last month, United Wholesale Mortgage, which deems itself among the nation’s largest home mortgage lender, announced its new program called, 0% Down Purchase, ‘aimed to help more borrowers become homeowners without an upfront down payment.’ But a 0% down payment is the same thing as taking out a 100% mortgage, meaning the homeowner has no equity in their home. ‘The risk of that position is that if the value of the home goes down, the concern is that you will get trapped in the home,’ said Cathy Lesser Mansfield, a consumer finance law professor at Case Western Reserve University. ‘Or when you sell, or try to refinance, you’re going to, as the seller, have to bring a bunch of money to the table.'”

From KEYE. “‘Here in Austin, Texas, there were 8,236 homes on the market in 2019. Today, there are 14,000,’ Jordan Suber, a realtor with EXP Realty, said. Mr. Suber and his wife Melanie, another realtor with EXP Realty, say this makes it a buyer’s market, which also means higher interest rates. And they say for the more than 1.7 million Americans who took on adjustable-rate mortgages around the same time, now those rates are about to roll over. ‘And for a lot of cases, it’s adjusting quite a bit – almost doubling – which means homeowners have a huge jump in what their monthly payment is,’ Mrs. Suber said. Bankruptcy attorney Stan Springerley recommends starting to save now if you know your term is coming to an end, or looking at ways to bolster your income. ‘… with a part-time job, or maybe find a roommate or look at ways to cut costs,’ Springerley said.”

The Tennessean. “The tide is turning for Nashville’s prospective home buyers as inventory reaches the highest level since before the pandemic. With this rise in available housing, buyers have more choices and sellers face more pressure to lower asking prices. ‘This marks the highest inventory level we’ve seen since pre-pandemic times, providing buyers with more options and greater leverage in the current market,’ Greater Nashville Realtors President Kevin Wilson said.”

Flagstaff Business News in Arizona. “Not surprisingly, the last 18 or so months of high inflation and high interest rates have brought a calming effect to home prices. Demand is still significant, given years of diminishing inventory, so we haven’t seen any crash in prices. But we are seeing more price negotiation in the last few months than we have in years. Anecdotally I’ve seen some of the best negotiations in the last 30 days than I’ve seen in the last five years with real estate returning to the good old days when one party’s motivations lead to another party’s opportunity. In many of these cases, a seller simply needed to sell and time was of the essence. So, five-figure price reductions or concessions or both were readily agreed to.”

The Real Deal. “Across South Florida, real estate owners are getting hit with foreclosures. The suits are for debt collateralized with offices, apartments, retail and industrial space, as well as development sites, a review of the cases shows. The financier of a $7.2 million loan on a three-story office building in Lauderdale Lakes was tired of waiting to get paid. Over at a 38-unit apartment complex in Opa-locka, the lender filed a $3.9 million foreclosure in April following the landlord’s alleged failure to pay the debt when it matured last fall. And in Lake Park, a lender is suing to foreclose on a $934,800 loan balance for an industrial building, after the borrower stopped making payments in September, according to the complaint.”

“‘A lot of lenders underwrote the deals, especially if it was a three- to five-year horizon on the investment…with certain insurance and interest rates,’ investor and developer Ben Mandell said, referring to the underwriting criteria of the recent past. ‘In terms of refinancing [this debt], you are going to be in a bad spot if you don’t have the capital to cover those differences.’ The more than doubling of debt allegedly in default means lenders are now foreclosing on bigger loans, even those tied to high-quality properties owned by well-heeled investors and in coveted prime, Mandell said. In short, lenders this year are foreclosing on what are considered Class A assets –– exactly the type of real estate said to be more resilient to a market slowdown.”

From Lodi News in California. “It’s becoming a case of the haves and the have-nots. We’re talking about homeowner’s insurance, of course. If you have a policy, you could be counted as one of the lucky ones. If you don’t and are looking to land one, good luck with that. You don’t even have to live in a catastrophe-prone part of the state. You may have been a customer in good standing for decades, never having filed a claim. But if you live on a hillside, in a wooded area or someplace your carrier thinks is high-risk, your existing policy could be canceled, through no fault of your own.”

“Insurance companies operating in California have been losing their posteriors in recent years and they have been unable to raise rates fast enough to compensate for those losses. ‘For every premium dollar taken in, companies are paying out between $1.09 and $1.13,’ says Janet Ruiz, director of strategic communication for the Information Institute. She also says it takes up to three years to get a rate increase approved in California. In the meantime, companies continue to lose money while waiting for approval. ‘Underwriting profits can’t keep up with losses,’ according to the Information Institute.”

“The ripple effect is far-reaching. People who have insurance are finding the premiums more onerous. Potential homebuyers are holding off buying because they either can’t find, or can’t afford, new insurance. Difficulty finding insurance drives down how much a seller can get for his or her property because there are fewer buyers. Insurance agents who live on commissions are also seeing their incomes recede because of cancelled policies and no ability to write new business.”

The Globe and Mail. “The Bank of Canada’s long anticipated interest rate cut this week will do little to lift Ontario’s struggling cottage market, as sellers and buyers remain widely in disagreement about the value of waterfront properties after their pandemic boom and bust. Today, realtors say sellers are still trying to cash in on pandemic-era prices, even though housing values have plummeted by as much as 31 per cent in 2023 in regions such as Peterborough and the Kawarthas. John Fincham, a real estate broker with Re/Max Parry Sound Muskoka Realty, said he expects the market won’t pick up until the Bank of Canada’s interest rate drops another 75 basis points to 4 per cent. ‘We’re firmly in a buyer’s market and it’s not even close, and to flip that psychology around will take a jolt,’ Mr. Fincham said. ‘Every day there’s so many listings coming on the system and so few sales.'”

“The number of sales has also plummeted. In Muskoka, there were only 450 sales of homes under $3-million in May, 2024, compared with 1,217 in May, 2021. ‘The few buyers that are out there are just biding their time,’ Mr. Fincham said.”

CTV News in Canada. “An Ontario man says he’s still considering selling his house, despite this week’s interest rate cut, with his mortgage payments set to leap over $2,000 next month. For Gerry Best, a 66-year-old homeowner in Kitchener, Ont., it won’t be enough to move the needle before his mortgage renewal on July 17 – just one week before the next interest rate announcement. ‘Prior to the Bank of Canada raising the rates, I got caught up in the variable interest nightmare, where it kept on going up and up and up and up,’ Best said. To stay afloat, Best turned to a private lender and is now paying $3,660 per month. But come July, his payments are projected to swell to around $6,000 to $6,500.”

Daily Mail Australia. “Tradies are owed thousands and creditors over a million dollars after yet another building company collapsed. Brisbane-based MSN Homes was placed into administration last month, leaving a trail of financial destruction. Corliss Painting and Decorating owner Alisha Corliss said she worked on new homes across north and south Brisbane and they were in appalling condition, with water damage and mould. The collapse of MSN Home hasn’t only hit tradies – homeowners have been left with unfinished homes. ‘We bought land in Mango Hill and he never built the house. He just ran away,’ MSN Homes customer Lovekesh Kakkar told the Courier Mail. He said he is now using another building company, but had lost $300,000 dealing with MSN Homes.”

“Another homeowner Mohammed Shameen purchased land four years ago. He said he received a letter from MSN Homes that due to Covid they couldn’t afford building materials and they promised to repay him, by didn’t. ‘I don’t have money to finish the house, there’s no floors, the plumbing is not done. I can’t even move in, I am paying $540 a week for rent and I don’t have money to complete it,’ he said.”

Radio New Zealand. “Hundreds of townhouses being listed on the market in Auckland could be partly behind a slump in the city’s sales prices. Building industry sources say that developers who subdivided sections in more remote parts of Auckland are colliding with a lack of buyer demand for those properties. Over the most recent quarter, Manukau and Papakura had the biggest falls. Auckland prices remain 15.8 percent below their peak, compared to 10.7 percent across the country. It was the second month of weakness for Auckland in a row, CoreLogic chief property economist Kelvin Davidson said, as the number of houses for sale increased, giving buyers more power.”

“Property investor Steve Goodey said he bought a two-bedroom apartment in Epsom recently and had seen what appeared to be an oversupply. ‘Look at how many two-bedroom townhouse listings there are in south Auckland, it’s nuts. Developers are doing many deals right now.’ Real estate agency Barfoot and Thompson managing director Peter Thompson said said he would not be surprised if some new builds were selling for less than the cost of building them. ‘Some of the builders have had to take a knock to move them on. They have quantity over supply so they are able to make it on the ones they do sell above.'”

South China Morning Post. “China’s ambitious rescue package for its crisis-hit property sector has impressed neither investors nor analysts, some of whom have lowered their forecasts as prices remain under pressure amid a mammoth supply overhang and tepid demand. ‘There still remains a price game between homeowners and prospect buyers,’ said You Liangzhou, owner of property agency Baonuo in Shanghai. The city’s market has been cooling since the start of this year, with overall home transactions falling 43 per cent in the first five months versus a year ago, CRIC data showed.”

“‘Home prices in Shenzhen are yet to change, and developers are rushing to offer discounts to clear inventory,’ said Andy Li, China CEO of Centaline Property Agency. ‘Buyers’ confidence is very weak, and they would stay away unless they see a price bottom,’ Li said, adding that the declining prices were sparking concerns about the shrinking wealth effect.”

This Post Has 68 Comments
  1. ‘If you think about the mortgage broker industry today, there really are no standards’

    Senator running deer heap angry Melissa.

  2. ‘China’s ambitious rescue package for its crisis-hit property sector has impressed neither investors nor analysts’

    Wa happened to my central planning?

  3. ‘Insurance companies operating in California have been losing their posteriors in recent years and they have been unable to raise rates fast enough to compensate for those losses. ‘For every premium dollar taken in, companies are paying out between $1.09 and $1.13’

    It’s the can’t do state Janet, it’s also the poorest, lower than Mississippi.

  4. ‘If you think about the mortgage broker industry today, there really are no standards,’ Martinez told the WSJ.

    This is my shocked face.

  5. ‘The risk of that position is that if the value of the home goes down, the concern is that you will get trapped in the home,’ said Cathy Lesser Mansfield, a consumer finance law professor at Case Western Reserve University.

    You’re an idiot, Cathy. FBs with no skin in the game will simply walk away from underwater shacks, or more likely, squat in place and live mortgage free for months and years while the foreclosure process plays out.

  6. The financier of a $7.2 million loan on a three-story office building in Lauderdale Lakes was tired of waiting to get paid. Over at a 38-unit apartment complex in Opa-locka, the lender filed a $3.9 million foreclosure in April following the landlord’s alleged failure to pay the debt when it matured last fall.

    The only thing more schadenfreude-inducing than watching housing speculators get burned is watching their financier enablers take it in the shorts.

  7. In short, lenders this year are foreclosing on what are considered Class A assets –– exactly the type of real estate said to be more resilient to a market slowdown.”

    But…but…all the “experts” smugly assured us there could be no new housing bubble meltdown, because of sound lending and subprime borrowing being a thing of the past. I am Jack’s cognitive dissonance.

  8. ‘Prior to the Bank of Canada raising the rates, I got caught up in the variable interest nightmare, where it kept on going up and up and up and up,’ Best said.

    Sure, Gerry. You got “caught up” due to factors beyond your control, right? Someone held a gun to yer head & forced you to sign on Mr. Banker’s line which is dotted?

    All of these FBs seem to have two things in common: greed and an utter lack of personal responsibility.

    1. “…two things in common…”

      And a lack of understanding of 6th grade arithmetic.

  9. The three letters that were supposed to put capitalism on a sustainable trajectory – ESG – have failed to do so. Emissions continue to rise despite the trillions of dollars ploughed into environmental, social and governance funds over the decades. Scandals relating to the last two letters in the formula abound, and ESG progress overall is hard to measure and easy to manipulate. ESG investing is in trouble, deservedly so, and needs a radical overhaul.

    Investors seem to have realized that there is less to ESG than meets the eye. At best, its value to society and to portfolios is overstated; at worst, it’s a con job dressed up in a green package. Research released this week by Barclays says a net US$40-billion has been withdrawn from ESG equity funds so far this year – the first year the flows have gone in reverse. April alone saw a record net US$14-billion exodus.

    The figures do not say the end is nigh for the ESG beast. They do suggest that ESG is not immune from bubbles and that the feel-good magic is disappearing. If the ESG investing reversal continues, watch out. According to Bloomberg Intelligence, global ESG assets surpassed US$30-trillion in 2022; Europe’s, at US$14-trillion, represent almost half the total. More unravelling may yet come.

    ESG needs a radical overhaul because the category is too broad, too nebulous and almost impossible to measure – the letters represent too many targets. ESG needs to be simplified and made easier to quantify.

    Take Tesla, the world’s most valuable maker of electric vehicles (though, with the rise of China’s BYD, no longer the biggest). Despite the cars’ zero-emission status, the S&P 500 two years ago punted the company from its ESG index. Why? S&P was highly critical of Tesla’s workplace and governance standards, including alleged harassment and discrimination at its factory in Fremont, Calif. Meanwhile, S&P kept ExxonMobil, one of the world’s biggest privately owned emitters of greenhouse gases, in the index.

    Something is wrong with this picture. Why do the S and G outweigh the E in this case and others? And how are the S and G measured? Their measurements seem subjective, whereas the E part can be measured by proven metrics such as carbon intensity, emissions output and progress on Scope 1, 2 and 3 emissions (the first is direct emissions; the latter two are indirect emissions).

    Another problem is ESG greenwashing in corporate overhauls. Take the mining industry. For several years, big mining companies, including BHP, Anglo American and Canada’s Teck Resources, have been busy selling or spinning off their fossil-fuel assets, notably coal, to reduce their carbon footprints and pretty themselves up for ESG investors to make themselves less of a target for environmental regulators.

    But these corporate clean-up acts do nothing to clean up the planet. The fossil fuels are simply burned by new owners, whose ESG credentials are often weaker than those of the sellers. Similarly, ESG funds love companies that mine critical metals such as copper, cobalt and lithium – essential elements for batteries and the transition to a low-carbon economy. But what if making batteries requires the eradication of forests to construct the mines, smelters, ports, roads and railways needed to produce, refine and export those metals?

    There are no easy solutions to these questions, but let’s agree that each of the letters in ESG represents parameters that are far too broad to be measured accurately or fairly, to the point that the rankings lose their effectiveness.

    https://www.theglobeandmail.com/business/commentary/article-esg-investors-are-hitting-the-road-dont-blame-them-the-investing/

    1. The three letters that were supposed to put capitalism on a sustainable trajectory – ESG – have failed to do so.

      The three letters that were supposed to tether capitalism to an ideology.

    2. “dressed up in a green package”

      Just like a watermelon: green on the outside, red on the inside.

      Commie vermin.

  10. HANNOVER, Germany — Last year, Anthony Lee received a letter from the Agriculture Ministry of the German state of Lower Saxony, where he runs his family’s farm. The letter informed him that a tree had fallen on his land, removing the cultivation potential of a few hundred square feet of sugar beet fields, and therefore his annual farming subsidy would be reduced by the equivalent of around $10.

    “Every three days, satellites fly over our property, our fields,” Lee says, pointing to the sky. “And then every farmer has to download an app and we get push messages that say: ‘On your field on such and such a day, something’s not right. Take a picture and send us this picture.’ That’s how crazy it’s gotten now.”

    Twenty-first century farming in Europe means GPS-enabled tractors, climate change-inspired rules and crop rotations monitored by cameras in space.

    “If the satellite picture shows you or shows to the government that something is not correct, so if you say we grow wheat and [instead] you grow corn, it would automatically send them a message that there’s something wrong,” says Lee. “Or if you bring out manure [at] a certain time which you’re not allowed, or if you plow your field, I mean, they are honestly talking about not plowing.”

    Lee — a candidate in this week’s elections for European Parliament — is a spokesman for a German farmers’ association that’s been organizing farmer protests.

    He says it’s beginning to feel like the state is slowly taking over his farm. He’s not alone.

    So far this year, farmers in every part of Europe have staged more than 4,000 protests, a 300% increase over last year, according to global risk data firm Verisk Maplecroft. They’re angry about new environmental regulations, the removal of subsidies and cheap agricultural imports that don’t meet the same level of requirements of food they produce. As the European Union holds parliamentary elections this week, surveys and analysts are predicting a swing toward the right. Vocal farmers could prove to be a powerful force to help sway the vote.

    Several of the demonstrations have turned violent, like protests in February and March in Brussels, the seat of EU government. Farmers pelted police with beets and then sprayed liquid manure on them before police responded with tear gas and water cannons.

    “I mean, we’re talking, in the case of European farmers, of relatively small-scale farmers who are good at their farming,” says Alan Matthews, a retired professor of European agricultural policy at Trinity College in Dublin.

    “But we’re now asking them to be — in addition to being a farmer and of course to being a financial manager — we’re now asking them to be part ecologist, part nature conservationist,” Matthews says. “They need to know how they’re impacting greenhouse gas emissions. So there’s a whole range of additional obligations, requirements, if you like, that we’re asking farmers to make.”

    Lee says the bigger problem is the Green Party itself. “It’s definitely an agenda to get rid of small farming businesses,” he says of the Greens’ policies. “They tell us the opposite. The first farms that go bankrupt are small farms because they can’t cope with this system.”

    He’s running for EU Parliament for the right-wing Free Voters party. He has attracted media attention for blaming politicians for wanting to take farmers’ land to build housing for refugees, a claim for which he provided no evidence.

    Lee shrugs off this criticism, saying he does not belong to the far-right. He says he’s simply a family farmer who wants the EU to return more decision-making powers to those who work the land and feed Europe.

    https://www.boisestatepublicradio.org/2024-06-08/european-farmers-angry-at-climate-policies-could-help-sway-eu-parliamentary-elections

    1. Lee shrugs off this criticism, saying he does not belong to the far-right.

      Anyone who resists the tyranny of the far left is by definition a member of the far right. Got it.

      1. The fatal flaw of the Establishment political parties is that they serve only the interests of a corrupt and venal .1% in the financier oligarchy at the expense of everyone else. As the 99% continue to lose economic ground, millions more former sheeple are becoming red-pilled, unplugging from the globalist scum media, and are seeking out alternatives to the corrupt, co-opted globalist toadies of the Establishment political parties.

      1. I think that is the objective. And it is a multipronged approach. Lifespans will be shortened by the jab, the poor in the third world will starve, pointless wars will kill others, huge disincentives to having kids will work from the other end. Even Mexico’s birthrate has fallen below the replacement level and continues to fall.

        All proceeding according to the plan.

  11. History is full of horrible, evil people – Charles Manson, Adolf Hitler, Hillary Clinton – but only one of them comes from a family completely devoid of any members with any redeeming qualities. While that may seem a bit harsh on Chelsea, the truth often is harsh. With that in mind, we have to acknowledge the unvarnished truth that atop that list is the Biden family.

    Is there anyone in that family who isn’t repugnant? The only people associated with the family who run risk of not being total sleaze, and therefore run risk of having any redeeming qualities are the two women who are disconnected, maybe even excommunicated from it: Hunter’s ex-wife and his youngest illegitimate child.

    Those two just so happen to be the ones the rest of the family seeming hold in contempt.

    First is Hunter’s ex-wife, Kathleen. She ditched the Biden name soon after her divorce from the junkie hooker-loving scumbag, after he’d not only been cheating on her with prostitutes but also her own sister-in-law. Gross.

    Speaking of the gross sister-in-law, Beau’s widow Hallie, who got a surprise witness-tampering visit from President Biden a week before testifying about how big of a sleazeball the man who got her hooked on crack was, just got remarried last weekend. I bet having the testify about stealing your dead husband’s brother from your sister-in-law while, smoking drugs while he’s screwing every hooker human trafficked from eastern Europe while still picking the wedding rice from your hair is a healthy way to start a marriage.

    The whole Biden family should enter an endorsement deal with penicillin.

    Joe broke up Jill’s first marriage, Jill was a willing participant. Then they both lied about it, which is an acknowledgement of them being away of how gross they are.

    Joe showered with their daughter well past whatever very young age that might have been considered appropriate, which screwed her up to the point that she had her own addiction issues, not to mention how disgusting that is

    Hunter used his young cousin to try to procure womenas much as 25 years younger than he is to “get over” losing his sister-in-law, the one he got hooked on crack and cheated on constantly, including impregnating a stripper and denying paternity for as long as it was humanly possible.

    Then Hunter fought to prevent that child from getting his last name, which is probably the best thing to happen to her in her short life, so far.

    This family is sick, this family is perverted.

    This family not only shunned that little 6-year-old daughter of Hunter’s, only ever acknowledging her once – in a written statement – then never so much as saying hello, they shunned Hunter’s ex-wife too.

    Kathleen made the mistake of thinking she was part of a family, only to see her and her kids abandoned when Hunter went whoring and sister-in-lawing. According to Axios, once details of Hunter’s piggish behavior during their marriage became public, the “family privately blamed Buhle (Kathleen) for the details becoming public.”

    More than that, “friends thought the Bidens were enabling Hunter’s behavior by appearing more angry at the revelations becoming public than at Hunter for what he’d done.”

    I give you my word as a Biden, the family is scum.

    Curiously, Joe (who is magically filthy rich after a lifetime in “public service”) doesn’t appear to have helped Hunter pay the millions in child support he owes Kathleen, but he did dish him a lot of cash for things like a $50,000 “loan” for truck when he already owned 2 other vehicles. That $50,000 cash “loan” is alleged to have happened when Hunter was a full-blown junkie, because everyone knows good parents give their strung-out kids sweaty wads of cash all the time, since getting them help is for suckers.

    You’d think they wanted Hunter dead, but for that you’d have to believe there was a loan. There’s only the claim of a loan made after the discovery of a $50,000 check from Hunter to Joe the same day he received a half million-dollar payment from a Chinese “investor.” It’s just a coincidence, I’m sure, that it works out to “10% for the Big Guy.”

    The whole family is disgusting, beyond disgusting. But what do you expect from a kid-sniffing, credibly accused rapist who has the exclusive means to exonerate himself by releasing his Senate personnel records now sealed under his orders, but won’t? People with nothing to hide would not hide things until long after their death. At least, no one with a Tara Reade in their past would.

    History will not be kind to Joe Biden, as he has supplanted Jimmy Carter as the worst President in history. But it should also be unkind because he’s a horrible person, and the head of a horrible family. For that, history need only accurately describe them as people and the things they did while alive.

    https://townhall.com/columnists/derekhunter/2024/06/09/the-bidens-are-a-horrible-bunch-of-people-n2640192

    1. “I bet having the testify about stealing your dead husband’s brother from your sister-in-law while, smoking drugs while he’s screwing every hooker human trafficked from eastern Europe while still picking the wedding rice from your hair is a healthy way to start a marriage.”

      I’m sure Hallie was also surprised to discover that Hunter was also an experienced gastroenterologist.

    2. Consider the fact that the globalist sc*m media are running cover EVERY SINGLE DAY for this family of crooks and addicts and pedophiles and degenerates.

      Every single day.

      DJT was correct when he stated “the media are the enemy of the American people”

    1. If the Left doesn’t approve the data, it’s misinformation. Or as former Kiwi PM Ardern once said, the government is the sole source of truth. Didn’t she get a sweet deal at some Harvard think tank when she retired as PM?

      1. This clown is the CEO of NewsGuard, as fradulant an organization to ever exist. He states in this segment that The Atlantic is the best magazine in the country 🤮

  12. A picture is worth a thousand words.

    @amuse
    @amuse

    FREE SPEECH: Why do rainbow murals on cities streets receive more protection than monuments in our nation’s capital? Teenagers riding their scooters charged with felonies? Pro-Palestinian terrorists not stopped or arrested? Why?

    10:07 AM · Jun 9, 2024
    ·
    https://x.com/amuse/status/1799805607962161403

    1. Teens Face Felony Charges For Scooter Marks on Pride Street Mural

      Todd Starnes
      June 7, 2024

      Three Washington State teenagers are facing felony charges after they left scooter marks on a gay pride mural that had been painted onto the pavement. A “no-ride zone” has been created around the mural.

      Eyewitnesses said four young people rode scooters over the roadway mural and left behind skid marks.

      “I am deeply troubled by the repeated defacement of Spokane’s Pride flag mural’” said Spokane Mayor Lisa Brown. “To the LGBTQ+ community, please know that I stand in solidarity with you against all forms of discrimination and prejudice.”

      At least three teenagers have been arrested and charged with felonies. They could face several years in prison. Prosecutors had wanted the judge to impose a $15,000 bond.

      “We’re not going to sit by as people deliberately commit a hate crime,” one eyewitness told local reporters.

      https://www.toddstarnes.com/crime/teens-face-felony-charges-for-scooter-marks-on-pride-street-mural/

    1. I don’t know how they’re gonna fix that. They might have to reroute a major portion of that highway. It’s a good thing they closed the road after noticing the first crack, and that the people who made that decision were competent. Had it been up to Mayor Pete or one of his DEI appointees someone might have been on that road when it collapsed.

      1. “I don’t know how they’re gonna fix that.”

        That portion of roadway was built on top of a constructed soil embankment that likely took years , not months, to build, and lots of earthmoving equipment. Probably required federal dollars too as the area is populated with hard scrabble grunts.

  13. Ok, so it was beyond belief when they announced the Disease x looming that will be 100 times more lethal than Covid.
    How could they know something like that ahead of time. Since I have been alive there has never been a global panademic of that kind of threat.
    So, its looking like a narrative is forming that poultry and livestock need to be killed because of Bird flu that has jumped into cows, and could jump into humans they warn.
    So since 1996 , about 27 years , one article published by WHO said only 134 deaths in humans have occurred, mostly in poor countries with compromised medical systems with poor people having direct contact with infected animals.
    And the PCR test is being used to test the animals and slaughter millions and millions of livestock.
    A couple days ago they alleged that first human death by a strain of Bird Flu occurred in a 59 year old man, in Mexico , with co morbidity diseases. They claim they have a lab confirmed Bird flu strain case based on them testing this person post death, in spite of the individual not having contact with the poultry or livestock business.
    Also, I posted yesterday a group of Plaintiffs are filing a lawsuit against the WHO, alleging that WHO created a fake Covid Panademic using a bogus diagnosis tool of PCR test ,the Plaintiff claim to prove could not determine the alleged Covid Panademic.
    Also, I posted a US 9th Court ruling yesterday, that they determined the Covid vaccines were not a vaccine, but rather medical treatment or gene therapy rather than a vaccine that bestows immunity and stops transmission.
    If this case is confirmed by the highest Court, than it could destroy immunity Big Pharmacy has on “Covid Vaccines” because the 9th District court has ruled they are not vaccines. The Plaintiff were suing over being mandated to take vaccines that aren’t vaccines.
    One wonders what will happen with the short 2year statue of limitation on filing a lawsuit against a Pharmacy Company on harm involving a medical treatment that doesn’t have immunity because its not a vaccine, if this ruling by the 9th Court is upheld by the highest US Court.
    But, in spite of these lawsuits, they are putting this MNRA technology in many a product , and they are in testing stages on “cancer vaccines” and they. are already producing Blue Flu vaccines using same failed MRNA technology.The FDA has already approved RSV Mnra vaccines for the over 60, and I read the flu shot has the failed technology in it.
    They think they have a free pass on this expiermental MRNA gene therapy that was rolled out under EUA as a “containment measure” to the WHO declared Covid global panademic, and they now have licence to put it in any product they want.
    Talking head Medical Experts say that the expiermental gene therapy is not a vaccine, and its a failed technology that responsible for millions of deaths and injury globally.
    The excess mortality and injury that occurred directly following the vaccine deployment globally, is hard to hide . Main stream news is now questioning the excess death and injury, saying things like this should be investigated, while they don’t call for the probable cause of a expiermental technology being immediately taken off market .
    Who is going to be responsible for the “need to investigate” that the MSM is calling for, and how long would such investigation take, in a time is of the essence matter.
    While we have heard things like climate change, cold showers, delayed medical treatments, long Covid , and its normal for young people to have heart attacks and turbo cancers, it evident that anything but the expiermental fake vaccines is being blamed for this Black Swan global excess mortality and injury that directly followed the deployment of the fake Covid vaccines.
    They reported 1 million 100 thousand excess deaths in US in 65 and over age so far directly following the vaccine deployment. They claim they saves 14 million lives globally by the vaccine EUA deployment , but all the evidence shows excess death and injury post vaccines on a massive scale.
    Oh no, the excess deaths and injury couldn’t be possible be coming from a expiermental MRNA gene therapy, deployed under emergency use authorization , as the containment measure vaccine for WHO called Global Covid panademic, that they used a bogus PCR test to determine the cases to begin with.
    Not only do they not want the PCR testing to be withdrawn as not valid, they don’t want the expiermental gene therapy to be withdrawn.
    So, a Main stream news call for a need for excess death and injury to be investigated is absurd, as they home in on conjuring up a new panademic, probably bird flu, using same bogus PCR testing. They are already producing and stockpiling bird flu vaccines, using same failed gene therapy technology they used in Covid vaccines.
    And , on top of everything else, why are governments producing gain of function bio weapon pathogens ,so they can produce a vaccine counter measure? Its a very odd concept that governments would want to create disease, so they could than have a counter measure vaccine deployed, if a leak should take place.
    Ok, so I content that the bio weapon gain of function narrative is false and it serves to create a basis for scary claims of new Panademic ,accidentally leaked, while they use fake PCR test to establish the alleged Panademic.
    The evidence shows that there never was a Covid Panademic . So what were people getting that made them sick than. That is the million dollar question , “What was Covid 19” anyway.
    Some Medical Experts and Universities alleged that poison or venom particles were found in the so called early covid victims tested. Some experts say the flu and other respiratory diseases disappeared in the first year of Covid and normal respiratory diseases were mislabeled Covid. Other Experts say that the mind itself can make you sick if your fearful, or stress can. But no Country has provided the Covid virus proof, or that the proof disease can transfer from human to human. This was the same problem they had with the 1918 Panademic that they couldn’t transfer the so called pathogen to volunteer human subjects.
    Anyway, the WHO Panademic Treaty has been delayed another 6 months , based on numerous opposition. In the Treaty it actually claims that gene therapy and vaccines can be mandated on the member Countries, and censorship is a power the WHO would have. The WHO having the power by Treaty , given by Countries, to dictate global response and counter measures to so called Panademics and Climate Change. WHO is corrupt and is currently funded by Bill Gates and places like China.
    So I contend they will start a scary global Panademic, just in time for this WHO Panademic Treaty to be passed 6 months from now. That will be the ultimate Global Health Policy Dictorship that supersedes Sovereign States and any constitutional protections against new lockdown, masks, marshal law, being taken to camps, or mandated to inject vaccines or gene therapy.
    Whoever these One World Order powers that be are, its getting pretty obivious they are engaged in a power grab to take over world and subject human populations to enslavement, deprivation, famine, genocide, forced vaccines, etc etc.
    Don’t doubt that they plan to control all resources and consumption, force people to eat bugs and fake engineered food, you will own nothing , as they probably will roll out the Universal Basic Income BS because AI will collapse 40 % of the jobs.

    1. Do not comply.

      Any public health official or other phony “expert” that tries pulling this again needs to be hunted down and killed. No trial, just good old fashioned frontier justice.

    2. So, its looking like a narrative is forming that poultry and livestock need to be killed because of Bird flu that has jumped into cows, and could jump into humans they warn.

      I bought some beef tenderloins to grill today. $28/lb at the supermarket, $20/lb at the warehouse club. It wasn’t that long ago they were $13/lb at Sam’s Club or CostCo.

      1. Wiping out the food supply of poultry, cows, eggs, cheese,etc, again based on bogus PCR testing , is about to come about.
        Dr Brix , the Fauci side kick on the Covid Panademic, was on the Mainstream news recently.
        She was talking about the amazing technology of the PCR testing, and every animal should be tested in regards to the new Bird Flu threat.

        There are Experts that are part of a Lawsuit being filed against the WHO, stating the WHO defrauded the World by staging a Fake Covid Panademic, using a fake diagnosis test , being the PCR test.

        Didn’t you think it was odd that children didn’t die of Covid , and for most part didn’t get sick. Also the 18 to 65 age group didn’t seem to be under threat of Covid, in spite of the claim that Covid new novel virus was infecting the world. It was the over 65 group , and specifically the 80 and older with many other diseases. The group that prior to Covid had a high death rate from respiratory diseases, that disappeared during Covid.
        What a disaster if all those foods get wiped out , and they have already been killing millions and millions of poultry and cows.
        Do you realized how many foods use eggs as part of the ingredients.
        So , what would be left, fish and hogs, maybe beans and rice?
        IMHO, this would be a disaster of epic proportions if these food groups get slaughtered and wiped out on this massive scale, based on same old bogus PCR test.
        IMHO, these would be the opportunity for the evil Powers that be to force bugs and engineered food , with the absence of real food that was slaughtered.
        This is the current threat that is being put in motion , by probably the same forces that manufactured the Covid 19 Scam.

      2. “I bought some beef tenderloins to grill today.”

        We’re done with beef; now, only for special occasions.

  14. Colorado Springs went blue in the last mayoral election, but things are not as they seem. The Democrats ran a Nigerian immigrant who was more attuned to local small businesses and ordinary voters, while the El Paso GOP is a wholly owned subsidiary of the developers who own everything in this town, and who represent only wealthy Boomers and wine-and-cheese corporate stooge “conservatives.”

    https://www.politico.com/news/magazine/2024/06/07/independent-voters-american-politics-00162095

    1. Well, they didn’t elect a Democrat. The guy they elected was fundy pastor, and is pro small business, so that doesn’t sound blue to me. He should have been the GOP candidate.

      1. Also, if I recall correctly, he and his city council told “refugees” to not come to Colorado Springs and that if they did there would be no free cheese for them.

        1. Yes, although plenty of migrants have shown up in CoS regardless. A couple of weekends ago I flew into the Colorado Springs airport. Upon landing, a large Venezuelan (?) family sitting near the rear of the plane immediately got up and pushed their way to the front of the plane, disregarding the passenger etiquette of disembarking from the front rows in order. Got lots of snarky comments from the other passengers, but now Colorado Springs will be on the hook for their welfare and housing costs of these “newcomers.”

          1. but now Colorado Springs will be on the hook for their welfare and housing costs of these “newcomers.”

            The Feds might provide it, but the city and county are under no obligation to provide.

      2. Colorado Springs has had a major influx of both California equity locusts and illegals, so that is probably bolstering the blue vote. The El Paso Republican Party are a singularly worthless bunch of RINOs and toadies for the developers, who represent only the wealthiest 1% in the county.

  15. Middle East Eye — US involved in Israeli rescue operation that killed over 200 Palestinians (6/8/2024):

    “The United States supported the Israeli military in rescuing four Israeli captives from Gaza on Saturday, in a “complex daytime operation” that killed over 200 Palestinians in Nuseirat, multiple news agencies have reported.

    A US official told Axios that a US cell stationed in Israel “supported” the Israeli military’s operation, with the New York Times later reporting that the US provided “intelligence and other logistical support.”

    The Palestinian government media office in Gaza said the death toll from Israel’s attack reached at least 236, with 400 more wounded.

    The Palestinian health ministry confirmed that a large number of dead and wounded Palestinian had arrived at Al-Aqsa Martyrs hospital. It said that most of them were children and women.

    “The occupation has annihilated the Nuseirat refugee camp. Innocent and unarmed civilian were bombed in their homes. I’ve never seen anything like this. It’s a catastrophe,” local resident Nidal Abdo told Middle East Eye.

    “I came from the camp to here in the hospital on foot. I can’t describe how we fled. I saw dead children and body parts strewn all over as we fled. No one was able to assist them. I saw an elderly man killed on a animal-drawn cart.

    Khalil al-Tahrawi, another resident, told MEE that Israeli forces began bombing Nuseirat following the early morning rescue operation.

    “Israeli warplanes began bombing us in all directions to cover up the withdrawal process that had taken place. I do not know exactly what happened because I was taking shelter on the ground, but I could hear the sound of gunfire and of shells falling.”

    https://www.middleeasteye.net/news/israel-rescues-four-captives-gaza-special-operation

    Kill 200+ to rescue 4 because Muh God’s Chosen People, got it.

    American taxpayers, you are being r@ped.

    1. The Gaza strip needs to become, “The Forbidden Zone.” Nothing is produced there other than babies. It’s always been a security issue.

  16. We have Health Authorities that are on the verge of wiping out the entire food supply of poultry, cows, eggs, cheese etc, based on a what they claim is a bird flu panademic that requires the entire slaughter/killing of those food groups.

    I’m talking about this also because they are pre manufacturing human Bird flu vaccines and stockpiling them as I speak. This suggests that they are preparing for Bird Flu to jump to humans .
    I think its totally fake, their tests are fake, and they should be stopped in killing the food supply , that’s in process now.
    This is not a light weight thing .

  17. Also, you have seen the attack on farmers and farming in reducing the production of agriculture, as well as fertilizer production required for agriculture production.
    You see energy being reduced without a viable and functional sources of replacement.
    Now, the mass slaughter of poultry, cows, eggs, etc, which is a major food group feeding the world.
    They are promoting war in many places, and don’t seem to care if it develops into World War 3.
    You don’t see the governments of the World doing anything to stop all these threats to all human populations, so the governments are in collusion with this warfare against global populations.
    Its the Great Reset, One World Order, 4th Industrial Revolution , and 2030, UN Sustainable Earth Agenda.
    These Entities have been planning this power grab for over 50 years, and they have probably been operative for centuries.
    The contrived idea that co2 carbons cause “Climate Change” is another one of their fraudulent narratives, along with the global Panademics.
    Just face it , its a genocidal program on a massive scale, by Entities that have no regard for humanity.

    They want to kill you, or enslave you, or hack you.
    Consider that if they control food, water and energy, or all resources and what’s consumed, than you will own nothing and eat bugs, totally deprived and enslaved.
    The Entities that have launched this attack on the Globe are no doubt powerful evil psychopaths and are probably not out in the open , unlike their front people are, like Bill Gates, Klaus Schwab, Fauci, etc.

  18. My posts relate to real estate in that the One World Order has repeatedly said ” you will own nothing , eat bugs, but be happy. ”
    Seriously, if AI is going to replace 40% of the global jobs in the next 10 years, who is going to have a job to afford real estate?
    I content this is why they started talking about Universal Basic Income, basically handed out by Governments.
    Actually, it doesn’t matter what they do temporarily
    on the pathway to their end game. What matters is what they plan and its not very nice.

  19. ‘By April, both Freddie Mac and Fannie Mae had ‘effectively blacklisted’ the firm after uncovering allegations that some brokers falsified figures in order to secure bigger mortgages for their clients, the WSJ reported. The brokerage’s close relationship with New York Community Bancorp, which sent shockwaves through the market when it appeared near collapse earlier this year, attracted further scrutiny from regulators. Martinez’s role isn’t the only shift to improve standards at Meridian. The brokerage also introduced a series of policy measures intended to help with fraud detection, the company announced in April’

    Sound lending!

  20. ‘And for a lot of cases, it’s adjusting quite a bit – almost doubling – which means homeowners have a huge jump in what their monthly payment is’

    Morer sound lending. It’s Sound Lending Sunday!

    ‘starting to save now if you know your term is coming to an end, or looking at ways to bolster your income. ‘… with a part-time job, or maybe find a roommate or look at ways to cut costs’

    You didn’t mention the food Stan. No eating for winnahs!

  21. ‘we haven’t seen any crash in prices. But we are seeing more price negotiation in the last few months than we have in years. Anecdotally I’ve seen some of the best negotiations in the last 30 days than I’ve seen in the last five years with real estate returning to the good old days when one party’s motivations lead to another party’s opportunity. In many of these cases, a seller simply needed to sell and time was of the essence. So, five-figure price reductions or concessions or both were readily agreed to’

    The sun don’t shine on the same dog’s ass all the time.

    Catfish Hunter

    https://www.brainyquote.com/quotes/catfish_hunter_402822

  22. ‘‘A lot of lenders underwrote the deals, especially if it was a three- to five-year horizon on the investment…with certain insurance and interest rates,’ investor and developer Ben Mandell said, referring to the underwriting criteria of the recent past. ‘In terms of refinancing [this debt], you are going to be in a bad spot if you don’t have the capital to cover those differences.’ The more than doubling of debt allegedly in default means lenders are now foreclosing on bigger loans, even those tied to high-quality properties owned by well-heeled investors and in coveted prime, Mandell said. In short, lenders this year are foreclosing on what are considered Class A assets –– exactly the type of real estate said to be more resilient to a market slowdown’

    Rate daters.

  23. ‘Today, realtors say sellers are still trying to cash in on pandemic-era prices, even though housing values have plummeted by as much as 31 per cent in 2023 in regions such as Peterborough and the Kawarthas. John Fincham, a real estate broker with Re/Max Parry Sound Muskoka Realty, said he expects the market won’t pick up until the Bank of Canada’s interest rate drops another 75 basis points to 4 per cent. ‘We’re firmly in a buyer’s market and it’s not even close, and to flip that psychology around will take a jolt,’ Mr. Fincham said. ‘Every day there’s so many listings coming on the system and so few sales’

    That’s the spirit John, talk em down outta that tree! It’ll be fine cuz everybody put 40% down.

  24. ‘For Gerry Best, a 66-year-old homeowner in Kitchener, Ont., it won’t be enough to move the needle before his mortgage renewal on July 17 – just one week before the next interest rate announcement. ‘Prior to the Bank of Canada raising the rates, I got caught up in the variable interest nightmare, where it kept on going up and up and up and up’

    Nobody said being a winnah! would be easy Jerry. If getting rich was easy, everybody would be rich, wouldn’t they? BTW you might as well unplug the fridge to save a few pesos.

  25. ‘Alisha Corliss said she worked on new homes across north and south Brisbane and they were in appalling condition, with water damage and mould’

    And they all had loans on unfinished shacks Alisha. It is Sound Lending Sunday!

    ‘homeowners have been left with unfinished homes. ‘We bought land in Mango Hill and he never built the house. He just ran away,’ MSN Homes customer Lovekesh Kakkar told the Courier Mail. He said he is now using another building company, but had lost $300,000 dealing with MSN Homes’

    It is still cheaper than renting Lovekesh.

    ‘Another homeowner Mohammed Shameen purchased land four years ago. He said he received a letter from MSN Homes that due to Covid they couldn’t afford building materials and they promised to repay him, by didn’t. ‘I don’t have money to finish the house, there’s no floors, the plumbing is not done. I can’t even move in, I am paying $540 a week for rent and I don’t have money to complete it’

    Ennio Morricone – the ecstasy of gold
    theItalyWiki

    13 years ago

    Ennio Morricone conducting his own composition, “The Ecstasy of Gold” from the film, “The Good, the Bad and the Ugly”.

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

    3:45.

  26. LIVE – Updated at 23:51

    Emmanuel Macron takes shock decision as far right makes huge gains in France and across continent.

    23:51Lisa O’Carroll

    Walter Baier, lead candidate for the European Left, has said the rise of Sahra Wagenknecht’s support in Germany was a protest against social deprivation and weakening public services in eastern parts of the country.

    “I feel the rise of … Sahra Wagenknecht is one of the symptoms of the disillusionment of broad layers of society, with the current politics, with the politics of social degradation, with the politics of new liberal downsizing of public services, particularly in the eastern parts of Germany,” he said.

    21:14Lisa O’Carroll

    Dara Murphy, former vice president of the centre-right European People’s party, and former Irish European affairs minister described the exit polls in Germany, France and Austria were “dark results for Europe particularly in the second largest member state”.

    But he said it now behoved the EPP, the liberals, socialists, Greens and others to stop “playing games” and properly pull together against the far right.

    “I think any of us who are pro-European and pro-democracy have to be saddened by it to be honest,” he said.

    “On the other hand, you still see a significant bloc in the centre. If you include the Greens, we have well over 450 MEPs who will be returned,” he added.

    “There is now a huge responsibility in a way to reduce the games, because we now face a proper opposition in the far right. We have been voted to do a job and we have to do that. And I have been heartened at how clear the EPP has been to say they would not in any shape or form work with the far right.”

    20:52Lisa O’Carroll

    Manfred Weber, the German MEP and leader of the centre-right European People’s party, said his group is now the “stabilising” force in Europe, following the rise of the far right in Germany, France and Austria.

    The EPP counts 13 prime ministers in its group including the Polish, Greek and Irish leaders, and is currently projected to get 181 seats in the European parliament.

    Weber said “voters are not opting for this extreme right positioning. In France and Germany that is a domestic situation, but we are increasing our seats and that is helping us stabilise the centre.”

    “The left has no legitimacy any more, people voted for the centre right and that is good news for Europe,” he said.

    20:10

    Emmanuel Macron, the French president, has announced that he is dissolving the national assembly, and calling for legislative elections on June 30 and July 7.

    The French president said that he can’t pretend nothing has happened, that the outcome of the EU election is not good for his government and that the rise of nationalists is a danger for France and Europe.

    https://www.msn.com/en-gb/news/world/eu-elections-2024-live-macron-dissolves-french-parliament-and-calls-snap-election-as-far-right-surges-in-europe/ar-BB1nTfBo

    1. On the other hand, you still see a significant bloc in the centre. If you include the Greens, we have well over 450 MEPs who will be returned,”

      The Greens are “centre”. What does it take to be considered leftist in Europe? Does your party have to endorse Stalinism and gulags?

  27. Watch: Illegal Aliens Now Throwing Themselves in Front of Cars To Extort Drivers

    by Jamie White
    June 9th 2024, 12:13 pm

    Illegal aliens have begun deliberately jumping in front of cars in attempts to extort terrified and confused drivers for cash.

    The New York Post obtained dash cam footage showing an illegal alien brazenly tossing himself in front of a moving vehicle, causing the driver to swerve into the left lane to narrowly avoid hitting him.

    “All of the sudden, I see a man in front of my car with eyes wide open, screaming, staring at me in the eye…He was trying to get me to run him over,” the 37-year-old driver who goes by Christina told the New York Post of the May 6 incident.

    The outlet began reporting on the scam earlier this year, but now it’s reporting that it has now escalated into a full-blown trend.

    Retired NYPD police officer John B. told the Post that illegal aliens have caught on to the scheme.

    “They’re scaring people saying, ‘You just hit me, and I’m going to report it if you don’t give me the money,’” he explained.

    https://www.infowars.com/posts/watch-illegal-aliens-now-throwing-themselves-in-front-of-cars-to-extort-drivers/

  28. Two Doctors DESTROY Dr. Fauci for Failure, Lies and Coverups
    Greg’s English & Politics

    4 days ago

    Dr. Anthony Fauci, the former director of the National Institute of Allergy and Infectious Diseases, testified before the House Oversight and Accountability Subcommittee on the Coronavirus Pandemic. Two congressmen who are also accomplished and respected physicians, Dr. Rich McCormick and Dr. Ronny Jackson, grilled Dr. Fauci about the U.S. response to COVID-19, including topics like the vaccine rollout, public health guidelines, and alleged issues around funding and information related to the origins of the virus.

    https://www.youtube.com/watch?v=m5EUCbAMqno

    13 minutes.

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