thehousingbubble@gmail.com
Blog

It’s The Lemmings, They’re All Running Off The Edge Of The Cliff

It’s Friday desk clearing time for this blogger. “Rupert Murdoch has slashed the price of his penthouse apartment in New York by more than half after struggling to find a buyer. The media mogul is attempting to drum up interest having first put the 7,000 sq ft apartment up for sale in 2022 with a price tag of $62m (£49m). Located in the Flatiron District of Manhattan, the triplex penthouse has been on and off the market ever since but has recently seen a sharp reduction in its asking price. It was first lowered to $38.5m in April, although Mr Murdoch has shaved off a further $10m – taking it down to $28.5m and less than half its initial asking price. Kyle Blackmon, an agent at real estate firm Compass, which is handling the sale, said , ‘My client is a realist, and he is very astute about how markets function.'”

“Single-family homes for sale in Charlotte County experienced more price reductions in May. Meanwhile, condominium and townhome prices decreased amid rising HOAs based on assessments from hurricane damage coupled with an inventory buildup. There were plenty of cash buyers for condos and townhomes in May. There were price reductions, and sales reflected that. The median sale price was $265,000 in May, down 18.5% year over year. While a few years ago buyers were engaged in bidding wars in Charlotte County, now the reverse has occurred. ‘What a ride this profession is,’ said Leanne Walker, president of Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto Inc.”

“A new state law is making sure condominiums across Florida are more resilient. But complying with the legislation is pricing many condo owners out of their homes. Many condo owners are unable to pay for the large assessment fees to cover the cost of repairs. ‘I was shocked because I didn’t think it was going to be that high,’ Rufina Cappelli said. ‘My condo has been kicking the can down the road for years. Florida condos have allowed their reserves to go way down.’ ‘They have to find a way to find the money,’ said Mike Finn, an attorney based in St. Petersburg. ‘The board can and will impose a lein on the condo and ultimately sell it in foreclosure and the condo owner could lose their home.'”

“Kelly Schultz is still shocked over what her neighbor is building next door. The Phoenix mom and nurse practitioner has spent the past week watching helplessly as a new guest house goes up on the other side of her back wall, overlooking her swimming pool. Back in September, the Phoenix City Council passed a new law that makes it easier for homeowners to build a guest house or casita in their backyard. ‘I cried, and I cried, and I cried some more,’ said Schultz. ‘It was devastation, I think is a good term.’ Not only do they have to look at the giant structure every day and worry about strangers looking into their yard, they now have concerns about their property value going down.”

“A Las Vegas man is battling his homeowner’s association ove. r something he says is beyond his control: careless drivers who put holes in his back wall. ‘This used to look really nice,’ says Roger Morse as he points to his block wall. ‘And then, when someone backed a truck into it, it pops the bricks out.’ But it’s not his side of the fence his community HOA is worried about. It’s the cul-de-sac behind him, a common wall that according to Terra West Management, Morse is responsible for fixing. According to the paperwork he’s received in the mail, he still owes back fines. ‘Right now, it’s $1,100 and they’re charging me $50 every single week that I don’t pay,’ says Morse. ‘Even though the wall is fixed. If you look around, there’s trash, there’s graffiti on all the boxes in the neighborhood and it’s been there for weeks.’ For now, he has no plans to pay his outstanding fines. ‘I will never buy a house with an HOA again,’ says Morse.”

“For years, both locals and tourists see those struggling with addiction openly use fentanyl in places like 3rd and Pike, even Pine Street. Our crews went to the area Thursday afternoon and saw much of the same. And those who frequent the area tell KIRO7 it’s only gotten worse. ‘We have foil all over the ground. They’re either smoking it, blowing it….they don’t care what they’re doing,’ one woman told KIRO7. The City Attorney’s Office says Seattle Police has referred 226 cases to their office, but they have declined 112 due to a number of reasons like proof reasons. So far, they have filed 61 of those cases. With all that is being done to address the problem, some people feel it isn’t enough. ‘I’m getting to the point where I just want to leave the state and move somewhere else! And I shouldn’t want to leave my home!’ One woman said.”

“Office owners are in a whirlwind of trouble in the nation’s capital. Properties are hitting the foreclosure auction block weekly, while others are selling for a fraction of what they were worth just a few years ago, with both banks and owners taking massive losses. Developers have already begun converting some office buildings to residential, but Transwestern Development Co. regional partner Toby Millman said those properties have been the ‘low-hanging fruit,’ and strategy can’t solve the whole problem. ‘This next phase is going to be much heavier,’ Millman said. ‘And I see that as being a more wholesale, massive redevelopment of downtown. And I mean literally tearing down whole blocks of old office buildings.’ Federal agencies were only using 12% of their federal headquarters buildings on average, the PBRB found in a study. ‘We’ve seen the values of office buildings in D.C. fall by almost 50% on average,’ said Carr Properties CEO Oliver Carr. ‘Half the buildings in this market, at least, are over-leveraged. So it’s a pretty dire situation.'”

“The Troy, Michigan, property at the center of a federal investigation just sold in a foreclosure auction for $21 million. Boruch Drillman and Aron Puretz bought the vanilla office complex outside of Detroit for $42.7 million in 2020, but presented a fake purchase price to its lender for $70 million. The lender used that inflated price to provide Drillman and his co-conspirators with a $45 million loan, a larger loan than they would otherwise have received. Once Drillman pleaded guilty, the loan was sent to special servicing. The Department of Justice is pursuing cases throughout the country where property owners allegedly defrauded lenders or Freddie Mac and Fannie Mae. In many cases, the owners ‘flipped’ the property to a related party so they were able to obtain a larger loan from the lender. In essence, the scheme allows property owners to buy properties without putting any equity in the deal.”

“On January 3 of this year, the Weingart Center, co-applicant with the City of Los Angeles for Homekey funds, paid $27.3M for a property at 3340 Shelby. An exclusive report by the Current showed that was $16.1 million more than the property had sold for just 12 days earlier. BBG, a national appraisal firm with offices in Los Angeles, was commissioned by Weingart to appraise the property and had turned in a $27.3 million valuation to support the elevated price Weingart paid for the property. BBG, it turns out, is under investigation by Fanny Mae and Freddy Mac for mortgage fraud with allegations that the firm demonstrated a pattern of inflating values in appraisals it had submitted.”

“BBG, known as one of the ‘Big Five’ national commercial real estate valuation firms, boasts 4,500 clients and maintains 50 offices nationwide. The nationwide probe focuses on brokers, investors, and title insurance companies linked to potential mortgage fraud schemes. These schemes typically involve inflating property valuations to secure larger loans, which are then sold to Freddie or Fannie. The mortgage giants have stopped accepting loans with valuations underpinned by BBG appraisals as part of the widening investigation into BBG’s business practices.Current showed the BBG appraisal to another appraisal expert who characterized the BBG appraisal as ‘circular’ saying, ‘Basically, the appraisal argues the price paid by LA for the property should go up because LA is also paying for the ongoing operating costs of the property.'”

“It was around 1 a.m. when Alyssa Provencher called Sault Ste. Marie Fire Services after noticing flames and smoke rolling out of 108 Albert Street East, a two-storey home in the city’s downtown core that has sat vacant since it was purchased by an out-of-town landlord in 2021. Although she has erected a tall fence in a bid to keep intruders out of her backyard, she’s still had to deal with squatters and ‘addicts’ next door hurling syringes over her fence. There’s seemingly ‘nothing preventing’ squatters from taking over vacant properties in the Sault. And with all of the open drug use in her neighbourhood, she’s only left to wonder what can be done for folks who live downtown. ‘I can’t even sell my house,’ said Provencher. ‘Who wants to live beside this?'”

“This Cambridge, Ont. home recently sold at a significant loss, and is one of many properties in Ontario that failed to sell multiple times even with hefty discounts. The 3,300-square-foot residence was first sold in February 2022 for $2,275,000, at a time when cheaper borrowing rates led to skyrocketing prices and heightened demand throughout the province’s real estate market. Just a few months later, the home was put back on the market for just shy of $1.5 million. Even with this significant discount, the home failed to attract any buyers, and was subsequently taken off the market. Finally, the home was sold for $1.45 million earlier this month — representing a staggering $825k loss when compared to its selling price back in 2022.”

“It’s worth mentioning that several properties throughout Ontario have sold at significant losses in 2024. In one example, a six-bedroom Brampton home sold at a significant loss of $600,000 in January, while another 11-bedroom home in York University Village sold at a $400,000 loss in May.”

“A lending-rate cut that was expected to stir Canada’s housing market into action has led to anything but: Inventory of new homes for sale went up in May, but buyers weren’t budging. And after the newest inflation report darkened hopes for another cut in July, buyers are feeling even more emboldened – some offering lowball ‘stink bids’ in hopes of catching frustrated sellers willing to move on. I asked The Globe’s veteran real estate reporter and columnist Carolyn Ireland to walk us through the stalemate. There seem to be For Sale signs everywhere. Don’t these sellers see that? Homeowners who want to fund their retirement by downsizing from a large house have been holding out for an influx of buyers, who may in turn push prices higher. So, while inventory stood 83 per cent higher in May compared with the same month last year, agents predict that even more listings will stream on as rates drop. ‘It’s the lemmings,’ one agent quipped. ‘They’re all running off the edge of the cliff.'”

“Melbourne’s lacklustre property market is taking its toll on other regions in Victoria, with the knock-on effect slashing median house prices by nearly 20 per cent in some cases. Domain data shows that in the Surf Coast-Bellarine Peninsula region – about 90 minutes from Melbourne’s CBD – the median house price has fallen 15.5 per cent to $895,750 in the past year. In that region, Ocean Grove has lost its million-dollar median, with prices down 16.2 per cent to $970,000, and while Angelsea maintained its million-dollar median, it has still recorded a drop of 18.1 per cent over the year, to $1.475 million. ‘What happens in the bigger city definitely affects our region and takes its toll,’ says Ocean Grove real estate agent Toby Lee of Bellarine Property. ‘We reached [the price] peak in 2022 and there’s been a 20 per cent drop since then. Once upon a time, our average sale price was $1.1 million and now it’s about $980,000. It’s a fair drop … If you purchased in that peak market and were to put your house on the market now, you’re probably not going to recoup all of the costs.'”

“Ratings agencies S&P Global and Moody’s drew fire at a US congressional hearing on Wednesday for failing to reflect the risk of a ‘multi-trillion-dollar time bomb’ that China’s local government financing vehicles pose for global financial markets. These firms borrow on behalf of provinces and municipalities to finance roads, ports, and other infrastructure projects, using leases on land controlled by the government authorities as collateral, said California Democrat Katie Porter. This was a risky proposition, she added, given that China’s property prices have been stuck in a steep decline. With property built on the leased land falling in value, Porter explained, the situation was comparable to the global financial crisis of 2007-2008, which was sparked when the value of debt backed by subprime mortgages and other risky assets collapsed.”

“‘Once this batch of long-term urban leases … expires, which will start in the next five years, there’ll be a glut and leases won’t be as valuable,’ the congresswoman said. ‘That will cripple the bond market.’ Mary Kissel, an adviser to former US secretary of state Mike Pompeo during the Donald Trump administration, lauded Porter’s analysis as ‘the first time I’ve seen Congress take a deep dive like this. You mentioned the rating agencies and the triple-A ratings [that they give to Chinese debt],’ said Kissel, addressing Porter. ‘Congress could act to break up the duopoly of S&P and Moody’s and force American investors to do their own due diligence and not outsource their due diligence to rating agents or rating agencies.'”

“After congratulating Porter for her ‘deep dive on what’s happening in the Chinese economy,’ former World Bank representative Erik Bethel said: ‘A lot of these bonds are being sold globally and internationally, and so I think we should be aware that there’s a ticking time bomb.’ Pimco, a global investment management firm, estimated last year that Chinese LGFV debt quadrupled to 55 trillion yuan [US$7.6 trillion] in 2022 from 13.5 trillion yuan in 2012.”

Related Posts

The Housing Market Collapse

https://www.youtube.com/watch?v=gxrv_r0lA0Q https://www.youtube.com/watch?v=vQgXazz5jHQ https://www.youtube.com/watch?v=pDNf_22XpeY

This Post Has 66 Comments

    1. The libs are furious at CNN for not “moderating” the debate. Also they’re saying that both candidates are too old. Not sure why they’re complaining. Aren’t they the ones the voted for Biden three years ago when he was already as old as Trump is now? And they had multiple opportunities to replace Biden back in 2020, and Biden was failing even back then.

      1. The NYT sent this out:

        Affirming fears

        After last night, many Democrats are panicked.

        They hoped that President Biden, 81, could convince voters that his age was nothing to worry about. That he could counter Donald Trump’s wild accusations and relentless falsehoods with confidence. He didn’t.

        Biden’s voice was hoarse and halting. His answers were often unclear, and he struggled to finish his thoughts. “Rather than dispel concerns about his age,” wrote my colleague Peter Baker, Biden “made it the central issue.”

        Some Democrats are now pushing for him to drop out of the race. “Biden is about to face a crescendo of calls to step aside,” a Democratic strategist told Peter. “Joe had a deep well of affection among Democrats. It has run dry.”

        Donald Trump, 78, delivered his false statements with conviction, affirming many voters’ concerns about his character and the threat he poses for democracy.

        Trump claimed that immigrants had driven up crime; rates of crime and murder have dropped. He claimed that Iran was “broke” when he was president; it was not. He claimed that Biden would allow abortions even after the birth of a child; Biden doesn’t support that. (Read a fact-check of many more of Trump’s and Biden’s claims.)

        The debate at times turned ugly. Trump and Biden questioned each other’s competence. Each suggested that the other would start World War III. They even argued about their golfing skills.

        For 90 minutes in Atlanta, Biden and Trump “debated inflation and immigration, abortion and addiction,” wrote my colleague Lisa Lerer, who covers national politics. “Yet the extraordinary rematch between two presidents — two men who are the oldest candidates to ever seek the White House and who did nothing to conceal their hatred for each other — put on stark display the reasons the contest has repelled swaths of Americans.”

        The rest of today’s newsletter summarizes The Times’s coverage of the debate, including the biggest moments and the candidates’ policy differences.
        More on the debate

        Biden struggled to articulate policy specifics, statistics and rebuttals, often stumbling or misspeaking. (His campaign said he had a cold.) Early in the debate, Biden seemed to lose his train of thought and said, “We finally beat Medicare.”
        The Biden campaign’s demand that each candidate’s mic be muted when it wasn’t their turn to talk seemed to help Trump. He largely waited to speak and seemed to enjoy himself.
        Trump seized on Biden’s halting speech, saying at one point: “I really don’t know what he said at the end of that sentence. I don’t think he knows what he said, either.”
        Biden seemed to get steadier as the debate went on, saying Trump had “the morals of an alley cat” and calling him a convicted felon who “snapped” after losing the 2020 election.
        Trump refused to say that he would accept the results of the November election, saying he would do so only “if it’s a fair, and legal, and good election.
        The candidates clashed over the Jan. 6 Capitol attack, climate change, Ukraine and more. See how long they spent on each topic.

        Asked to address voters’ concerns about their age, Biden called Trump “three years younger, and a lot less competent,” while Trump claimed to have aced cognitive tests.
        “It’s going to be a very scary November”: The debate left Democratic voters, including staunch Biden supporters, stunned and dispirited. Republicans were jubilant.

        Commentary

        Trump “won it by forfeit,” the Times Opinion columnist Carlos Lozada wrote. “The Biden of 2020, even the Biden of this year’s State of the Union, did not show up.” Dan McCarthy argued that “Trump won as the more commanding presence, with a tighter focus on his themes, particularly immigration.” Read other Opinion writers’ reactions.
        The Times columnist Thomas Friedman, who calls Biden a friend, argues that he should drop out.
        Biden “had one thing he had to accomplish, and that was reassure America that he was up to the job at his age. And he failed at that tonight,” former senator Claire McCaskill, a Democrat, said on MSNBC.
        “Almost every president loses the first debate of his re-election campaign,” the historian Brian Rosenwald wrote. “They’re used to being in a bubble where few people question them.”
        “Biden won the debate on policy but lost it on presentation,” 538’s G. Elliott Morris and Kaleigh Rogers wrote.
        “Trump was increasing incoherent and deranged as the debate went on, and Trump’s extremism was on full display,” the Democratic strategist Geoff Garin wrote.
        In a post-debate CNN poll, two-thirds of voters who watched said Trump had won, but few said it had changed their minds about which candidate to vote for.
        On late night, Jon Stewart was stressed about the debate. He said he needed “to call a real estate agent in New Zealand.”

    2. be running up that hill
      they’re running off that cliff
      no problems

      if they only could
      they’d make a deal with god
      and get him to swap
      our places

      * some red headed chick
      maybe the one in S. Cal ?

  2. ‘Rupert Murdoch has slashed the price of his penthouse apartment in New York by more than half after struggling to find a buyer…‘My client is a realist, and he is very astute about how markets function’

    We all call him Dick Kyle. Everybody he knows thinks of him as Dick.

  3. ‘This next phase is going to be much heavier,’ Millman said. ‘And I see that as being a more wholesale, massive redevelopment of downtown. And I mean literally tearing down whole blocks of old office buildings’

    That’s what I’ve been saying Toby. Cities that lasted centuries are dying cuz of minor respiratory illness.

    1. “Federal agencies were only using 12% of their federal headquarters buildings on average”

      FYI, federal employees were HUGE on teleworking. FedGovs demanded more and more “flexibility” to stay away from the office, even 2x/week in office was too much for them.

      As a result, many of those agencies were 100% telework right up until the Public Health Emergency was rescinded in May 2023. Yup, some of those Fevs w@h for three years without stepping foot in an office. That’s why the buildings were 12% occupied. Agencies are slowly calling employees back, kicking and screaming.

      Currently there’s a bill floating around Congress to require 3-4x/week in office. It has a good chance of passing. Republicans want the workers back in the office, while the Democrats want workers back downtown occupying the offices and buying lunch.

      1. How about (and I know this is totally crazy talk) we just get rid of all these government “workers’ and notice what is really failing to get done and only hire for those positions. (home or office doesn’t matter, there are plenty of jobs that can be done from home)

        My guess is that 90% of these “jobs” don’t need to exist at all.

        chances of any of this happening are less than zero.

  4. ‘The lender used that inflated price to provide Drillman and his co-conspirators with a $45 million loan, a larger loan than they would otherwise have received…The Department of Justice is pursuing cases throughout the country where property owners allegedly defrauded lenders or Freddie Mac and Fannie Mae. In many cases, the owners ‘flipped’ the property to a related party so they were able to obtain a larger loan from the lender. In essence, the scheme allows property owners to buy properties without putting any equity in the deal’

    ‘BBG, a national appraisal firm with offices in Los Angeles, was commissioned by Weingart to appraise the property and had turned in a $27.3 million valuation to support the elevated price Weingart paid for the property. BBG, it turns out, is under investigation by Fanny Mae and Freddy Mac for mortgage fraud with allegations that the firm demonstrated a pattern of inflating values in appraisals it had submitted….BBG, known as one of the ‘Big Five’ national commercial real estate valuation firms, boasts 4,500 clients and maintains 50 offices nationwide. The nationwide probe focuses on brokers, investors, and title insurance companies linked to potential mortgage fraud schemes. These schemes typically involve inflating property valuations to secure larger loans, which are then sold to Freddie or Fannie. The mortgage giants have stopped accepting loans with valuations underpinned by BBG appraisals as part of the widening investigation into BBG’s business practices’

    Senator running deer heap angry!

    1. That is some seriously good appraising there.

      We all know (and everyone pretends it isn’t true) that they start from the number needed and then work backwards to justify it.

  5. ‘a two-storey home in the city’s downtown core that has sat vacant since it was purchased by an out-of-town landlord in 2021. Although she has erected a tall fence in a bid to keep intruders out of her backyard, she’s still had to deal with squatters and ‘addicts’ next door hurling syringes over her fence. There’s seemingly ‘nothing preventing’ squatters from taking over vacant properties in the Sault. And with all of the open drug use in her neighbourhood, she’s only left to wonder what can be done for folks who live downtown. ‘I can’t even sell my house,’ said Provencher. ‘Who wants to live beside this?’

    This igloo is part of one of the ponzi schemes up in Ontario.

    1. ” . . I can’t even sell . . whine whine bitch moan . . etc”

      this is so typical of the victim mentality of weak people.
      “SOMEBODY” must “DO SOMETHING!”
      “THEY” need to fix this!
      which leads to “THE GOVT. has to do something.”
      which leads to more rules from the nanny state Democrats.

      JFC you stupid cunt, go spend $100 on some motion activated bright spotlights & mount them on top of the fence. then, and here’s the important part . . .
      wait for it. wait . . for . . . it . . .

      DO. SOMETHING. EFFECTIVE. when the scumbags reappear.

      STOP BEING A PASSIVE VICTIM!

      it IS YOUR HOUSE, is it not?
      then fuking DEFEND IT !!

      people REALLY are lazy & stupid.

      1. Also you can always sell. Oh, you might not get the price it was going to get 3 years ago, but you can always sell. But no, they have that top price stuck in their head and can never get past it.

        Also S.S.S.

    2. The out-of-town landlord:

      “It came as no real surprise to Mayor Matthew Shoemaker that a group of out-of-town shell corporations [affiliated with SID Developments] that own 150 properties in Sault Ste. Marie has filed for bankruptcy protection.

      The landlords behind 11 insolvent corporations — Aruba Butt, Ryan Molony and Dylan Suitor — filed for protection from creditors in the Ontario Superior Court of Justice last week, claiming they owe more than $144 million in unpaid loans and have less than $100,000 in the bank. ”

      https://www.sootoday.com/local-news/insolvent-out-of-town-landlords-have-been-disaster-for-the-community-sault-mayor-8203614

    3. That’s an interesting article that gives a bit of insight into what is coming. They have been racking up loans on these derelict properties far in excess of what they are worth and in many cases will wind up being worth nothing. Just that one outfit has 600 of these zombies. That is 600 properties that some entity will eventually have to dispose of. There will be so many of them a few years. Patience is key.

      P.S. I posted the link to the Ookland Mayor’s tear filled rant against right wing extremists in yesterday’s thread for you but here it is again for anyone who is looking for some quality irritainment. For context, this is from her first public appearance since her home was raided by the FBI.

      https://www.youtube.com/watch?v=PgGrU4Ke0h8

      1. Thanks, I watched it. I wonder why the googwakie is suppressing that right wing statement.

          1. I messed it up but I’ll do better next time. It’s a mix with this:

            “Jabberwocky” is a nonsense poem written by Lewis Carroll about the killing of a creature named “the Jabberwock”. It was included in his 1871 novel Through the Looking-Glass, the sequel to Alice’s Adventures in Wonderland (1865). The book tells of Alice’s adventures within the back-to-front world of the Looking-Glass world.

            In an early scene in which she first encounters the chess piece characters White King and White Queen, Alice finds a book written in a seemingly unintelligible language. Realising that she is travelling through an inverted world, she recognises that the verses on the pages are written in mirror-writing. She holds a mirror to one of the poems and reads the reflected verse of “Jabberwocky”. She finds the nonsense verse as puzzling as the odd land she has passed into, later revealed as a dreamscape.[1]

            “Jabberwocky” is considered one of the greatest nonsense poems written in English.[2][3] Its playful, whimsical language has given English nonsense words and neologisms such as “galumphing” and “chortle”.

            https://en.wikipedia.org/wiki/Jabberwocky

            So maybe the best would be googwock?

  6. “Rupert Murdoch has slashed the price of his penthouse apartment in New York by more than half after struggling to find a buyer.

    Whatever happened to that self-described expert on NYC real estate who assured all and sundry here on the HBB that a 50% drop in prices was inconceivable?

  7. The median sale price was $265,000 in May, down 18.5% year over year.

    This doesn’t bode well for muh generational wealth.

  9. Finally, the home was sold for $1.45 million earlier this month — representing a staggering $825k loss when compared to its selling price back in 2022.”

    Die, speculator scum!

  10. Once upon a time, our average sale price was $1.1 million and now it’s about $980,000. It’s a fair drop … If you purchased in that peak market and were to put your house on the market now, you’re probably not going to recoup all of the costs.’”

    The FOMO lemmings who got bamboozled into buying at the peak of the scamdemic-era housing bubble are about to learn a costly lesson about trusting realtor “advice” or the “experts” in the globalist scum media.

    1. Be careful what you wish for.

      Gavin Newsom doesn’t have the VOTERS, but he will have the BALLOTS. 60 million useful idiots will actually vote for him, and 30+ million ballots will appear overnight.

      There won’t be any “elections” after this one. Bird flu, muh climate, World War III, and the end of all of your freedom, forever.

      1. I’m not convinced. Newsome may have a machine in California, but I don’t believe his network is widespread enough to mule his way through, say, Michigan or PA. And you only need to see 4-6 seconds of film footage from California to get an idea of Newsome’s track record.

        1. He has nice hair. That will secure the support of the demographic that votes its emotions while being devoid of reason and accountability.

          1. His hair is where he stashes his snake oil, so he can sell some at a moment’s notice. Ignore the salesman and look at the PRODUCT he’s selling, that product being California.

          2. Newsom

            nice hair
            perfect smile
            smarmy personality
            charming
            presentable
            cheated on wife
            used car salesman in another life

            hmm, sounds like another Democratic guy we all know?
            like Billy Crystal sez: “it doesn’t matter how you feel, babe, it’s how you look: You Look MAHVELOUS !! “

      2. ‘Gavin Newsom doesn’t have the VOTERS, but he will have the BALLOTS’

        That’s what you said about the senile corrupt pedophile.

          1. I’ve never seen this much panic in a nominated national political campaign for president. That’s their word for it.

  13. According to the article, the Phoenix guest houses must be “no more than 15 feet tall, less than 1,000 square feet, and at least 3 feet away from the block wall.”

    Who decided on those dimensions? 15 feet is tall is enough for an attic with windows, as the photo shows. And 1000 sq ft isn’t a “casita.” That’s a 3-bed 1.5-bath ranch house which, in any barrio, will house 3 families. Shoulda been 10 feet tall and ~600 sq ft. That at least would limit the casita to a small flat for a single or couple.

    1. That’s a 3-bed 1.5-bath ranch house which, in any barrio, will house 3 families.

      They have to stuff all those nuevos americanos somewhere.

  14. The Mainstream News will spend endless hours trying to restore Biden’s disaster debate by talking about his record.
    When you have a President that the record shows he is a treasonous puppet who is advancing the Agenda of the One World Order, and destruction of the USA, how do you restore that.
    -Treason by Border invasion.
    – World War 3 escalation
    – Mandating killer vaccines
    -Censorship of free speech
    -Transgender assault
    -Trying to take 2nd amendment
    – Crime on steroids
    -Inflation destruction of survival
    -Censorship of free speech
    -Attack on political opponents
    -Giving oil reserves to China
    – Nonsensical withdraw of resources for unsustainable solutions of Climate Change fraud.
    -Tax dollars diverted to Mega Corporations and Rich Elites, and not vetted illegal border invasion.
    -Destruction of small and med business.
    -Illegal mandating of vaccine for business of 100 or more employees.
    – Biden trying to transfer by Treaty power to UN and WHO, that’s a unelected puppet for One World Order Entities, including China. By Treaty the UN would have power to override all Governments laws and rights of Citizens.
    -Biden saying “The US should lead in One World Order.”
    – Discrimination toward Whites, Christians, White males, etc against all Civil rights laws.
    -Could go on and on
    But is this the record of destruction of US that CNN is going to talk about to restore Biden from his disaster debate with Trump?
    Abortion and childcare bribes can’t carry the day against the list above of the most destructive President to the US there has ever been.

    1. Biden saying “The US should lead in One World Order.”

      I think the Chicoms, the Russians, the Indians, and most of Asia, Africa and LatAm have other ideas.

      1. I agree that certain Countries aren’t going to want to be ruled by Mega Monopolies and Rich Elites.

  16. Sorry, Dr. Jill, but The Cabal knows that an election steal of the magnitude required to re-install Pedo Joe for a 2nd term would completely discredit “Our Democracy” in the eyes of even the dullest of the sheeple. The globalist scum media suddenly turning en masse on the gruesome stiff Biden indicates The Cabal has made its decision, and some high-end eldercare facility is about to receive a new slack-jawed admission after the next globalist puppet is anointed to be the Democrat standard-bearer.

    https://www.dailymail.co.uk/news/article-13580549/Jill-Biden-Joe-debate-Trump-KENNEDY.htm

  18. In a touching gesture of solidarity with “MAGA Republican Extremists,” North Korean girl group ‘Moranbong Band’ and The North Korean Military Chorus send out a song dedication to the people who work hard, play by the rules, pay the bills, and who wish nothing more than to get out from under Democrat-Bolshevik malgovernance and corruption.

    I Want to Break Free’ (Queen) Performed In North Korea

    https://www.youtube.com/watch?v=jYvcdhCbzJw&list=RDjYvcdhCbzJw&start_radio=1

    1. ok, you got me. is rick-rolled still a term?

      I just had to look after thinking “what?”

      and my goodness, what a job that guy did. One of the top comments: The unofficial Youtube-Oscars reward for best Academy Award for Best Film Editing goes to this creator

      Hilarious, well played.

  19. ‘The median sale price was $265,000 in May, down 18.5% year over year. While a few years ago buyers were engaged in bidding wars in Charlotte County, now the reverse has occurred. ‘What a ride this profession is’

    It’s a good thing everybody put 25% down Leanne!

  20. ‘I was shocked because I didn’t think it was going to be that high’

    Then:

    ‘My condo has been kicking the can down the road for years. Florida condos have allowed their reserves to go way down’

  21. ‘I cried, and I cried, and I cried some more,’ said Schultz. ‘It was devastation, I think is a good term.’ Not only do they have to look at the giant structure every day and worry about strangers looking into their yard, they now have concerns about their property value going down’

    And you know why they allowed these sheds Kelly? Affordable housing! In a place that throws up shacks in every direction for decades, putting dubiously thought out sheds in those tiny back yards is going to produce affordable housing.

    Central planning!

  22. ‘This used to look really nice,’ says Roger Morse as he points to his block wall. ‘And then, when someone backed a truck into it, it pops the bricks out.’ But it’s not his side of the fence his community HOA is worried about. It’s the cul-de-sac behind him, a common wall that according to Terra West Management, Morse is responsible for fixing. According to the paperwork he’s received in the mail, he still owes back fines. ‘Right now, it’s $1,100 and they’re charging me $50 every single week that I don’t pay,’ says Morse. ‘Even though the wall is fixed. If you look around, there’s trash, there’s graffiti on all the boxes in the neighborhood and it’s been there for weeks.’ For now, he has no plans to pay his outstanding fines. ‘I will never buy a house with an HOA again’

    I can see yer going through expensive hell Roger, but it’s still way cheaper than renting.

  23. ‘We have foil all over the ground. They’re either smoking it, blowing it….they don’t care what they’re doing,’ one woman told KIRO7…‘I’m getting to the point where I just want to leave the state and move somewhere else! And I shouldn’t want to leave my home!’

    OK lady’s so I understand the walk ability could use some improvement right now. Do you have any good Mexican food?

  24. ‘The Department of Justice is pursuing cases throughout the country where property owners allegedly defrauded lenders or Freddie Mac and Fannie Mae. In many cases, the owners ‘flipped’ the property to a related party so they were able to obtain a larger loan from the lender. In essence, the scheme allows property owners to buy properties without putting any equity in the deal’

    So it’s throughout the country now. Noted.

  25. ‘The 3,300-square-foot residence was first sold in February 2022 for $2,275,000, at a time when cheaper borrowing rates led to skyrocketing prices and heightened demand throughout the province’s real estate market. Just a few months later, the home was put back on the market for just shy of $1.5 million. Even with this significant discount, the home failed to attract any buyers, and was subsequently taken off the market. Finally, the home was sold for $1.45 million earlier this month — representing a staggering $825k loss when compared to its selling price back in 2022’

    No mention of foreclosure either so a true personal a$$pounding.

  26. ‘There seem to be For Sale signs everywhere. Don’t these sellers see that? Homeowners who want to fund their retirement by downsizing from a large house have been holding out for an influx of buyers, who may in turn push prices higher. So, while inventory stood 83 per cent higher in May compared with the same month last year, agents predict that even more listings will stream on as rates drop. ‘It’s the lemmings,’ one agent quipped. ‘They’re all running off the edge of the cliff’

    I follow yer sh$thole closely Carolyn and I should point out that in spite of this dire situation yer painting, there is still a shortage and it’s technically a sellers market.

  27. ‘What happens in the bigger city definitely affects our region and takes its toll,’ says Ocean Grove real estate agent Toby Lee of Bellarine Property. ‘We reached [the price] peak in 2022 and there’s been a 20 per cent drop since then. Once upon a time, our average sale price was $1.1 million and now it’s about $980,000. It’s a fair drop … If you purchased in that peak market and were to put your house on the market now, you’re probably not going to recoup all of the costs’

    That’s crazy Toby cuz Dick over at news corp has been saying all of Australia is red hotcakes and has been for ages.

  28. Trump Indicted For Murdering Elderly Man On CNN

    ATLANTA — Tonight’s presidential debate ended abruptly when Donald Trump was served with papers notifying him that he had been indicted for the murder of an elderly man on CNN.

    “Hey, I didn’t do anything!” Trump told authorities. “He was like that when I got here!”

    Trump, who had planned to debate President Joe Biden, argued that the strange old man keeled over all on his own.

    “The very idea…” the old man said before slumping over onto a nearby podium. It was also at this point that Trump discovered the man had been propped up by an apparatus and could not stand on his own.

    “You know, I got here and everything was fine. CNN is fake news, but I’m here and they’ve been nice tonight,” Trump said. “But then there was this dead old man in the corner. And I thought, wow, the game must be afoot, you know? And believe me, I was about to solve this murder before you got here.”

    “Yeah, yeah,” said Officer Nolan of the APD. “Why don’t we talk about this downtown.”

    At publishing time, Trump had been indicted again for the murder of the Democratic Party.

    https://babylonbee.com/news/trump-indicted-for-murdering-elderly-man-on-cnn/

  29. Selling Today Is A Big Challenge (Peel Region Real Estate Market Update)

    Team Sessa Real Estate MISSISSAUGA

    In this episode we take a look at the current Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate home prices and market trends for week ending June 19, 2024. We also discuss why selling today has become a big challenge. You never know the situation of those you’re competing with.

    https://www.youtube.com/watch?v=syKEbIwoGc0

    13:31.

  30. Poilievre making it look easy while Trudeau and the losing liberals go into panic mode.

    The Celtic Canuck

    15 minutes ago

    The finger pointing begins … the panic is real, and the liberals are terrified.

    Accountability needs to follow, and bring its friend consequence along for the ride.

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

    8 minutes.

  32. Dragnet music…

    Baaah- bah- bum- bum

    https://youtu.be/nx5GwULPU90?si=8STlMIiTwIcD-eWZ

    Collin Rugg
    @CollinRugg

    NEW: CNN’s Erin Burnett says Biden knew “every one of these questions is coming” leading many to suggest that Biden was fed debate questions beforehand.

    CNN, you have some explaining to do.

    Burnett: “He goes through six days of preparation, a camp day, more than that. And they know the rules.”

    “He practices with the mics. He knows every one of these questions is coming, and yet he couldn’t fill the time.”

    11:29 PM · Jun 27, 2024

    https://x.com/CollinRugg/status/1806530432009437254

    2. Newsweek
      Housing Market Takes a Turn for Buyers
      Published Jun 28, 2024 at 1:32 PM EDT
      Updated Jun 28, 2024 at 6:39 PM EDT
      By Omar Mohammed
      Reporter, Economy & Finance

      A typical home in the U.S. sold for less than the asking price for the four weeks ending June 23 for the first time since 2020 in a sign that buyers could see some relief from expensive homes that have characterized the housing market over the last few years.

      Buyers were able to purchase a home over the last four weeks at a 0.3 percent less than the asking price, according to the real estate platform Redfin. Last year, properties sold at the asking price while two years ago they went for 2 percent higher than the listed price.

      In an apparent shift, only about one-third of homes on the market were purchased above their listed price in what Redfin said was the lowest share for the busy spring housing market season since 2020. Sellers were also slashing prices—down about 7 percent, compared to 4.7 percent last year.
      …
      https://www.newsweek.com/www-newsweek-com-homebuyers-get-good-news-prices-1918870

  36. Rupert Murdoch has significantly reduced the price of his penthouse in New York City, slashing it by more than half. Originally listed for $62 million in 2022, the price has been cut to $28.5 million as of June 2024. The property, located at One Madison near Madison Square Park and the Flatiron Building, spans three floors and nearly 7,000 square feet, featuring 360-degree views of Manhattan.
    The penthouse has faced several price reductions over the years, starting with a brief listing at $72 million in 2015. Despite its prime location and luxurious features, the property has struggled to find a buyer. The recent price cut is aimed at aligning more closely with current market values​

Comments are closed.