People Understand You Have To Start Competitively – Otherwise You End Up Sitting Or Chasing The Market Down
A report from WVUE. “The New Orleans housing market stretches well beyond the city’s limits. It covers 10 parishes, and what’s happening within the market has realtors concerned. Closed sales of homes have dropped 24.3% from June 2023 to June of this year. ‘Well, overall it’s dramatic for the time, that’s for sure,’ said Mark Rodi, owner of RE/MAX Affiliates in Metairie. Rodi says the ever-increasing cost of property insurance in Louisiana is the biggest factor in the dramatic dip in sales. According to ATTOM Data Solutions, 11.3% of mortgages in the state are considered to be seriously underwater. But the insurance crisis is something few people have answers about. It is something Rodi hasn’t experienced in his 47 years in the real estate business. ‘I don’t think we’re at a panic stage yet. A worrying stage? Yes,’ said Rodi.”
From The State. “Columbia had the second highest rate of foreclosures for a metropolitan area with over 200,000 people. And it’s not the only city in South Carolina to make that list. Spartanburg was the metropolitan area with the fifth highest rate of foreclosures. During the pandemic, government agencies and mortgage providers expanded the range of forbearance options to borrowers, allowing them to pause or reduce their monthly payments. But these pauses did not affect the underlying loan, which still needed to be paid off in full at a later date. ‘One of the issues is that people come off these forbearance programs and they don’t have the money to pay for it,’ said Mark Fessler, head of the housing unit at South Carolina Legal Services.”
From WCVB. “More crumbling concrete found in Massachusetts, and this time, it’s been discovered in a massive condo community not far from Boston. Those who live there say it’s a warning sign for everyone in the state, and Beacon Hill must finally take action to help struggling homeowners financially. Ron Turcotte, who lives in this community, is worried about his home’s value crumbling. Repairing every building could cost $160,000 per condo. That’s half the value of each unit, which typically sells for a little over $300,000. The problem first came to light because cracks in the most-damaged building meant condos could not pass an inspection required in a sale. ‘I never even heard of [the crumbling concrete issue] until it came up in this condo association,’ said Turcotte. ‘No one’s going to want to buy it, the property value will drop significantly.'”
Market Watch. “Foreign buyers are fleeing the U.S. housing market, with sales to buyers from outside the U.S. falling to an all-time low. Potential buyers of condos that require special assessments — and hence repairs — would need to pay toward those expenses, which is discouraging some buyers from acquiring older properties. The assessments are ‘tremendously expensive — anywhere from $50,000 up to $400,000 per unit,’ said Craig Studnicky, chief executive at Miami-based ISG World. ‘It’s crazy, and consequently nobody wants to buy that inventory that’s 30 years and older.’ Nearly 90% of active listings in South Florida are condos over 30 years old, he added.”
ABC Action News. “Ruskin homeowner Lionel St. Hilaire emailed ABC Action News for answers after receiving a notice of non-renewal from Florida Peninsula alerting him that he would be dropped in the middle of hurricane season. ‘I was really shocked,’ he told ABC Action News Anchor Nadeen Yanes. ‘Because I was never late with any payments, and again, the house was built in 2017. No issues whatsoever, never filed any claims.’ According to the notice of non-renewal, Florida Peninsula wrote: ‘We are reducing our exposure to hurricanes and other perils. We are reluctantly taking this step to prudently manage our risk, remain financially viable, and continue to protect the interests of all our policyholders in the state.'”
KXAN in Texas. “The housing supply in the Austin-Round Rock-San Marcos metropolitan statistical area (MSA) continues to grow, which is already serving to push down the area’s median home price, according to the Austin Board of Realtors (ABoR). KXAN spoke with ABoR economist Dr. Clare Knapp, who said that the report’s data suggests that many sellers are being inflexible on price and unwilling to negotiate. This mindset may be stuck in a market that is ceasing to exist. ‘That’s probably a byproduct of what we saw during the pandemic, when homes were really flying off the shelves. We’re still seeing remnants of that mentality amongst sellers,’ Knapp said. ‘It is going to be important for those sellers to be willing to negotiate a little bit more moving forward, especially amid such a strong uptick and active listings.'”
Bravo TV on California. “On the Season 15 premiere of Million Dollar Listing Los Angeles, Tracy Tutor broke down the recent challenges of the real estate market, noting that because of the Los Angeles ‘mansion tax,’ people ‘don’t want to sell’ their homes. During the July 17 episode, Tracy had a request from one of her clients asking to discuss a ‘bullsh-t offer’ they received on their house that Tracy was attempting to sell for $8,775,000. ‘We got an offer on Crescent Bay. The offer price is very low. It’s $7.1 million,’ Tracy explained. ‘It is all cash. Obviously, that is way too low, and I know James [the developer and seller], he’s going to want to reject the offer immediately. But I’d like to present to him an alternative.’ ‘Realistically, $7.1 [million], I mean, that’s laughable, right?’ He said. ‘It’s really a disrespect to all three of us that they would even put in a $7.1 [million] offer on an $8.7 million house.'”
“‘You and I both know, James, that this property a year ago would have traded with a 9 in front of it,’ she admitted. ‘Trying to keep up with what’s happening every day in this market is painful. Without this lowball [offer], we’d be having a discussion in a few weeks from now if we didn’t have another offer on the table and reducing to the same price without the leverage of having an offer in hand.’ After agreeing on the new price, Tracy said, ‘I’m glad we had this call, I was pretty ticked off about it as well. Let’s turn the lemon into lemonade.’ She then mumbled after hanging up, ‘I’m over it.’ ‘We should’ve been under 8 [million] all along,’ she later added. ‘I hate to say, ‘I told you so,’ but I told you so.'”
“Later in the episode, Tracy revealed that after reducing the price to $7,995,000, she once again reduced the price to $7,599,000. However, there were still no offers. ‘To have to fight this hard to sell what I consider to be a beautifully executed property is a defining moment in where the market is,’ she said. ‘The market’s f-cking sh-t.’ She added: ‘It is going to be a long year for real estate agents and brokers around the country.’ However, she wasn’t giving up hope. ‘I think we’ve got a little bit of time,’ she told her clients. ‘We made this reduction. I mean, there’s stuff that’s sitting on the market, you guys, for 1,000 days … We do not reduce again. You’re under-selling it at that point.'”
Fortune on California. “OpenAI CEO Sam Altman has joined the list of billionaires with expensive property headaches, after the infinity pool of his San Francisco home flooded the lower levels of the property. In a lawsuit filed to the Superior Court of San Francisco, lawyers allege 950 Lombard Street has ‘been plagued by shoddy construction, corner cutting, and development efforts to save money, all which lead to pervasive defects in the building.’ The developer also boasted, ‘a lot of what we do in terms of development, you can’t see.’ Here it seems Altman’s legal team would agree, saying the owner purchased what they ‘believed to be a beautiful, luxury home’ when in fact they were sold a ‘$27 million lemon.'”
The Globe and Mail in Canada. “Residents of Ontario’s Prince Edward County are accustomed to the influx of summer tourists. This year more than most, many are hoping that visitors will also spend time checking out local real estate. Buyers have more power to negotiate these days, notes Tammy Noyes, real estate agent with Century 21 Lanthorn Real Estate, and it’s common to submit an offer conditional on a home inspection or financing, she adds. Sales have fallen about 50 per cent from the hectic days of the COVID-19 pandemic, she says. With fewer sales, it’s difficult to accurately set an asking price. ‘You don’t have the data you once had with fewer sales,’ she says.”
“Ms. Miller says prices have dipped since the average in Prince Edward County hit more than $1-million at the peak during the pandemic. A major shift in 2024 is that an increasing number of sellers have become resigned to the fact that those record prices are not returning soon. She points to a Victorian-era farmhouse with 3.7 acres of land and a pebble beach listed last summer with an asking price of $1.579-million. The waterfront property sat through the fall until the owners took it off the market. It came back in the spring with an asking price below $1-million and sold within a couple of weeks, she says. Homeowners often wanted to start with a lofty asking price in the past, but more people today accept that they need to be priced in line with the market. ‘We don’t have to fight tooth and nail,’ she says of those conversations. ‘People understand you have to start competitively – otherwise you end up sitting or chasing the market down.'”
From Reuters. “Building permits for apartments in Germany fell 24% in May from a year earlier, Statistics Office data showed on Thursday, highlighting a continued downturn in demand in the construction and real estate industry. Germany’s property sector, in its third year of decline, is undergoing its most severe slump in decades. ‘Building permits in Germany continue to go in only one direction: down,’ said Felix Pakleppa, head of the Central Association of the German Construction Industry. ‘You don’t need a degree in statistics to realize that Germany is slipping into a deep housing crisis.'”
News.com.au in Australia. “Canterbury Bulldogs prop Liam Knight has taken a $150,000 loss on his Vaucluse townhouse investment after pocketing $1,475,000 in its midweek settlement. Knight, who has played nine for the Bulldogs this season, bought the three-level townhouse for $1,625,000 in January last year. It suggests Knight may have overpaid to buy into the block.”
Vietnam Investment Review. “The condotel industry in Vietnam has experienced significant transformations over the past decade. The first few years indeed proved beneficial for early investors, driving a surge in similar developments across the country. However, the influx of large-scale projects quickly saturated the market, challenging the sustainability of returns that early adopters enjoyed. The Vietnamese government’s liberal approach in issuing licences for new condotel projects led to an oversupply in the market. Moreover, the rise of platforms like Airbnb added another layer of complexity. Many unit owners chose to rent out their properties independently, bypassing the rental pools managed by developers. This move put further pressure on the returns for those who remained within the official rental management systems.”
From Barron‘s. “Zhong Weiyi, who owns an auto dealership just outside the sprawling western Chinese city of Chengdu, isn’t feeling confident about the economy. ‘If housing prices keep shrinking, I wonder what kind of security I will have in my 70s,’ the 58-year-old told Barron’s in a phone interview. Nearly all of his family’s savings have been put into their two apartments, leaving Zhong hesitant to buy much beyond necessities. His case illustrates the pain that has continued to flow through the economy since China’s property bubble burst in 2021.”
This Post Has 82 Comments
Comments are closed.
“I don’t think we’re at a panic stage yet. A worrying stage? Yes,’ said Rodi.”
At least Rodi knows what comes next.
‘Here it seems Altman’s legal team would agree, saying the owner purchased what they ‘believed to be a beautiful, luxury home’ when in fact they were sold a ‘$27 million lemon’
It is still way cheaper than renting Sam.
Got into an interesting conversation with a workmate yesterday. I was mentioning all the recent listings of folks who bought
That didn’t go well….what I was trying to say is that conversation was about how many listings there are coming on the market of folks who bought in the last 3 years who are just trying to break even. Most listing sites will give you purchase history and it’s easy to see who these folks are. But this workmate chimes up “it was still better than renting”…….REALLY?!! Three years into a loan is all interest so all that money went to the bank. You were likely spending at least $1000 more than renting. Insurance, taxes and maintenance….throw that in. That’s a huuuuuge loss! Better than renting?!! Delusional.
But… It’s still better than renting.
Brought to you by Carls Junior
They’re taking a strong hit of copium. Die, speculator scum.
I’d love to see the insurance premium on this one!
17758 Del Paso Dr, Poway, CA 92064
2024
Jul 12, 2024 Price decreased $1,999,999
Jul 3, 2024 Listed $2,199,000
Apr 10, 2024 Listing removed
Mar 9, 2024 Price decreased $2,259,000
Feb 22, 2024 Listed $2,295,000
2022
Aug 22, 2022 Sold $2,030,000
Jun 30, 2022 Listed $1,995,000
“I’d love to see the insurance premium on this one!”
Fire risk or hillside erosion?
Fire.
You will own nothing.
“…Potential buyers of condos that require special assessments — and hence repairs — would need to pay toward those expenses…” “…The assessments are ‘tremendously expensive — anywhere from $50,000 up to $400,000 per unit…”
Another Thursday, another out-of-control holding costs story.
Many more Thursdays to come.
“It is going to be important for those sellers to be willing to negotiate a little bit more moving forward, especially amid such a strong uptick and active listings.”
RealtorSpeak translation: Lower your damn price already! I need the commission.
sidenote: it’s always amused me, reading this blogs excerpts over the past 18 yrs, of the obvious & conniving realtor double-standard of them perpetually screaming about “Insulting the Seller! ” over a low offer, but they ‘effin never, EVER apply the same insults to the SELLER not lowering the sale price!
Aren’t sellers “Insulting the BUYER!” when pricing high?! Or more commonly know as “Price Gouging?!”
never. a. peep.
It’s all a big expensive dog-eat-dog game, played by many smiling liars, dancing a ballet of morality on the edge of legality, for a large, quick profit.
“…It’s all a big expensive dog-eat-dog game, played by many smiling liars, dancing a ballet of morality on the edge of legality, for a large, quick profit….”
“Its a dog-eat-dog world out there — and we are all wearing Milk Bone Underwear” — Norm from ‘Cheers’
Commission checks trump everything.
Bravo TV on California. “On the Season 15 premiere of Million Dollar Listing Los Angeles, Tracy Tutor . .. a request from one of her clients asking to discuss a ‘bullsh-t offer’ they received on their house that Tracy was attempting to sell for $8,775,000. ‘We got an offer on Crescent Bay. The offer price is very low. It’s $7.1 million,’ Tracy explained. ‘It is all cash. Obviously, that is way too low, and I know James [the developer and seller], he’s going to want to reject the offer immediately. But I’d like to present to him an alternative.’ ‘Realistically, $7.1 [million], I mean, that’s laughable, right?’ He said. ‘It’s really a disrespect to all three of us that they would even put in a $7.1 [million] offer on an $8.7 million house.’”
Tracy sez Blah Blah Blahh. followed by more Yadda Yadda Yadda as she peacocks her way through the 5 stages on TV.
I’d love to have a Mr. Roboto escort me around a prospective property just giving me the facts w/out the biased hype. Hell, even an android Detective Joe Friday.
(Ahh, who am I kidding: a Katerina Witt clone would happily have me writing checks all day long! haha)
‘It’s really a disrespect to all three of us that they would even put in a $7.1 [million] offer on an $8.7 million house.’
🙄
You can buy a whole lot of ‘disrespect’ for $1.6m (difference).
Client should drop offer by at least another $1m and watch the REIConplex agent really squirm. Would make for some great TV.
Remember, it’s the 2nd mouse that gets the cheese. Anyone who submits an offer now, when the real cratering is weeks or months away, is setting themselves up for a serious case of buyer’s remorse.
The worst part of this article is that there are actually 15 seasons of a show like this.
By contrast, the iconic shows of the 1980s were lucky to last half that long. WHO the F is watching all this crap on TV?
‘The worst part of this article is that there are actually 15 seasons of a show like this’
I laughed loud and hard upon reading that!
They have scheduled a International Bird Flu Summit in Washington DC for Oct 2, 2024.
So, this Submit is a month before the National Election. Its also around the time of the Transfer power by Treaty to the UN and WHO that has been set up.
I think it obivious what the One World Order plans are.
First, it was odd that they scheduled a Debate between Trump and Biden before both parties Conventions. Than a attack on Biden . Than a failed attack on taking Trump out by a bullet to the head.
When everything settled in the aftermath of Trump being taken out, if it didn’t ignite a Civil War, Haley would of been put up for the Republicans.
I think Biden would of resigned and whoever the Democrates put up could beat Haley.
The Bird flu figures in this . They schedule a Bird Flu Summit in Washington DC 4 or five months ahead of time, one month before Election.
Numerous Countries already stockpiling Bird Flu vaccines. Chicken and Cattle being slaughtered based on same old PCR testing with high false positive rate.
Trump survived the Bullet and Biden has Covid now and is relieved of his duties for a while.
Consider your Government already captured by the One World Order, and Pandemic 2.0 is being set up for steal the election 2024.
Biden said “The US should lead in the One World Order.” Everything Biden Administration has done is in furtherance of that Agenda.
They are setting up the One World Order takeover right in front of our eyes with Global governments acting in collusion with it.
Gobal Governments stockpiling Bird Flu vaccines based on a killer technology they won’t take off the market. But this time the WHO will mandate the Bird Flu vaccine based on this transfer of power by Treaty to the WHO to override Governments and Constitutional protections.
Panademics and Climate Change are the warfare that is being used to subject humanity to enslavement, genocide, and deprivation of needed resources.
No explaining the break down of protection of Trump at the Rally. To dangerous for snipers to be on a minor sloped roof is just not credible.
How much more evidence does one need that the One World Order has launched warfare on billions of people and Global Governments are colluding with their pre planned attack on humanity, animals and plants, and earth’s terrain.
They want to make beef and dairy so expensive that it will become a distant memory for the unwashed poors.
Citizen! The globalist scum media wishes to inform you that your hot showers are directly responsible for climate change! Such luxuries must be reserved for the Comrades of Proven Worth (D), while proles like you enjoy the benefits of your cold showers, which are pleasing in the eyes of St. Greta.
https://www.msn.com/en-ph/health/other/ar-BB1qbI0G
A reader sent these in:
@KennyCap_Phd and I were just talking about this housing shortage myth. 6 months ago there were 1,800 rental units available around Nashville. Today, almost 6,000. Zoom out just a bit further and it’s over 8,000.
https://x.com/AustinWhittRE/status/1813215169033474448
Over the past 2 months alone, rental listings on Zillow have increased ~300% in Nashville/Davidson county, TN.
Apartments are the main driver (no surprise there), but listings of all property types have increased since that time.
https://x.com/KennyCap_Phd/status/1812976361163923577
Home prices in Hawaii continue soaring despite rising housing units vs. little to no population growth and declining qty of employed. Hmmm…
https://x.com/Econimica/status/1807295833039405249
Locations of whole-home, unhosted full-time Airbnbs in Pacific Beach and Crown Point, San Diego.
When it’s hotels…it ain’t housing.
https://x.com/NotoriousAirbnb/status/1813354751440126011
It’s like that all over the coast, all the politicians go on and on about the housing shortage and rising rents yet they never talk about the impact of vacation rentals. Barcelona just banned them and said they expect 10,000 housing units to be available again.
https://x.com/MilesFuzzyBear/status/1813480113683808553
Let’s check in AGAIN on homeowners in Austin, TX
https://x.com/GayBearRes/status/1807126966706806962
Same owner trying to unload 6 investment properties in Vancouver, Canada
3601 899 Pacific St: $2,999,000
1702 899 Pacific St: $1,650,000
3310 1289 Hornby St: $1,299,000
2812 1289 Hornby St: $1,279,900
2712 1289 Hornby St: $1,279,900
1601 277 Thurlow St: $8,180,000
https://x.com/mortimer_1/status/1809680048305352802
A new class action lawsuit alleges @Airbnb is well aware that certain “hosts” for short-term rentals are unauthorized to rent property on a short-term basis yet “enables and facilitates” their illegal property rentals while collecting “handsome revenues.”
https://x.com/jjsheedy/status/1813348166009307436
Florida is so f@cking coooooked
https://x.com/VladTheInflator/status/1813470590378078538
“6 months ago there were 1,800 rental units available around Nashville. Today, almost 6,000.”
Are these failed AirBnBs or new inventory coming online? In late 2019 I visited Nashville and the downtown skyline was full of cranes.
A crime spree of similar thefts and burglaries is happening across several Bay Area cities. In each case, thieves are targeting unlocked cars and looking for garage door openers to break into homes.
One of the most recent incidents happened at around 7 a.m. Sunday on Blackstone Drive in Danville.
In a video, a woman’s screams can be heard in the background. The screams come after a group of masked men were seen scouting and breaking into multiple unlocked cars, stealing garage door openers and breaking into homes.
“They got into the garage, the door going into the house was also unlocked. They went into the house, took her car keys while she was in the house and attempted to drive her car out of her driveway,” said Danville resident Jeff Su.
Su lives near from where the incident happened. He said the thieves were heard laughing as they ran away. He and others captured security footage of their neighbor running after the thieves. Now, he is coordinating a neighborhood watch.
“I think now they are getting more and more brazen. They’re like, ‘I can do this now, I can target these seemingly safe towns.” So, it’s really quite disheartening,” Su said.
But they didn’t stop there.
Mike Pawlowski, who said he was a victim, said that minutes later, he caught the three thieves breaking into his garage after stealing his remote from his truck.
“I’m a football player, so my reaction was to go to it,” he said. “And I started chasing them out of the garage and they went running.”
The suspects got away with Pawlowski’s hunting knives in a white Honda.
Pawlowski credits Danville police for responding immediately. He said law enforcement pursued the suspects but had to stop when they reached a nearby city with a no chase policy.
“It makes you feel vulnerable in your house. It makes you feel unsafe. If we are not going to have consequences for actions like this, then, we are going to keep getting more actions like this. You train bad behavior,” Pawlowski said.
Danville police told NBC Bay Area on Wednesday that at least five garages and eight cars were broken into, including a majority that were left unlocked.
https://www.msn.com/en-us/news/crime/thieves-break-into-cars-houses-in-several-bay-area-cities/ar-BB1qbbaC
Vote like California, become California.
a nearby city with a no chase policy.
Is this like when the Dukes of Hazard were always trying to cross the county line to avoid Roscoe P Coltrane? Geeze… what if the thieves had committed murder or a carjacking? They just let them get away?
In a video, a woman’s screams can be heard in the background. The screams come after a group of masked men were seen scouting and breaking into multiple unlocked cars, stealing garage door openers and breaking into homes.
Every time a Bay Area libtard gets culturally enriched, an angel gets its wings.
Technology companies are locked in a frenzied arms race to release ever-more powerful artificial intelligence tools. To demonstrate that power, firms subject the tools to question-and-answer tests known as AI benchmarks and then brag about the results.
Google’s CEO, for example, said in December that a version of the company’s new large language model Gemini had “a score of 90.0%” on a benchmark known as Massive Multitask Language Understanding, making it “the first model to outperform human experts” on it. Not to be upstaged, Meta CEO Mark Zuckerberg was soon bragging that the latest version of his company’s Llama model “is already around 82 MMLU”
The problem, experts say, is that this test and others like it don’t tell you much, if anything, about an AI product — what sorts of questions it can reliably answer, when it can safely be used as substitute for a human expert, or how often it avoids “hallucinating” false answers. “The yardsticks are, like, pretty fundamentally broken,” said Maarten Sap, an assistant professor at Carnegie Mellon University and co-creator of a benchmark. The issues with them become especially worrisome, experts say, when companies advertise the results of evaluations for high-stakes topics like health care or law.
“Many benchmarks are of low quality,” wrote Arvind Narayanan, professor of computer science at Princeton University and co-author of the “AI Snake Oil” newsletter, in an email. “Despite this, once a benchmark becomes widely used, it tends to be hard to switch away from it, simply because people want to see comparisons of a new model with previous models.”
https://www.msn.com/en-us/news/technology/everyone-is-judging-ai-by-these-tests-but-experts-say-they-re-close-to-meaningless/ar-BB1q93SG
Details of his search history were released as news broke that 20 minutes passed between the time that Secret Service snipers first spotted Crooks perched on a roof with a rifle and the time he began firing at the former president.
Multiple law enforcement sources and legislators briefed on the investigation told ABC that snipers saw Crooks on the roof outside the rally’s security zone at 5:52 p.m. before the shooting began at 6:12 p.m.
The shocking 20-minute time gap was confirmed by The Post’s sources, who added that at one point, Crooks was reportedly peering through his rangefinder at the snipers who were looking back at him. In fact, Crooks was identified as a person of interest over an hour before the shooting took place, sources have told The Post.
https://nypost.com/2024/07/18/us-news/trumps-would-be-assassin-thomas-crooks-wrote-chilling-online-post-foreshadowing-rally-shooting-report/
At some point incompetence starts looking like something more malign.
How Leadership Failures Led to an Assassination Attempt on Trump (11m46s)
Longer discussion: Emergency Episode: Special Forces Sniper Explains Trump Shooting – Tim Kennedy (1h3m30s)
Aside: Tim Kennedy was in the History Channel’s Hunting Hitler.
Trump’s remarks Thursday night will be the first time Americans will have a chance to hear if his change of tone has stuck.
“You can’t keep him down by falsely indicting him. You can’t keep him down by falsely convicting him, and you can’t keep him down by trying to kill him,” U.S. Rep. Darrell Issa told USA TODAY. The California Republican lawmaker added that he expects to see Trump as he was after the shooting and as he’s always been: defiant.
For many, the moment they learned of Trump’s shooting will be one they never forget, like hearing that planes had crashed into the World Trade Center in New York City.
Ohio college student Victoria Rivas, 19, wasn’t alive when terrorists attacked the nation on Sept. 11, 2001. But she’ll always remember where she was when she received the text message “Trump has been shot.”
“I work at a supermarket,” said Rivas, who wore a black MAGA hat and Trump 2024 pin to the convention. “And I know everything at that supermarket stopped for one second and we just wanted to make sure, is he alive? Is he dead? We didn’t know what the state was. It was scary. We thought if he was dead chaos would break through at any moment in the streets.”
Rivas believes the shooting made him a more sympathetic figure.
“I saw so many people that were kind of in the middle that would never be political just post in support of Donald Trump and I think that opened the eyes of many Americans,” said Rivas, who grew up in Miami as the daughter of Cuban immigrants.
Trump’s campaign was running strong even before the shooting, with polling averages showing him edging out Biden in most swing states amid backlash to his indictments and the president’s struggles.
The Republican 2024 nominee has hammered Biden on high inflation during his presidency and large levels of illegal immigration, but Biden’s age and questions about his stamina and mental acuity have been his biggest liability.
Now Trump has an opportunity to use the flood of support after his shooting to try and put the election out of reach. He is seizing on a unity message to cement his position.
“In this moment, it is more important than ever that we stand United, and show our True Character as Americans, remaining Strong and Determined, and not allowing Evil to Win,” Trump wrote on social media shortly after the shooting.
https://www.msn.com/en-us/news/politics/felon-martyr-maga-unifier-will-assassination-attempt-change-the-way-people-view-trump/ar-BB1qcyP3
Bill Maher, who has long been a vocal critic of Donald Trump, publicly denounced the assassination attempt against the former president just hours after it occurred when he took the stage at a comedy show in Minnesota on Saturday (July 13).
Maher shared a clip from the show on social media in which he claimed that the shooting may have cost the Democrats the election.
“I unequivocally denounce [the shooting], I don’t care what you think about that,” Maher says in the clip. “Not funny. I’m sure that there will be jokes that people will make because they hate him so much that they wished it went he other way. Not for me.”
He continues, “When I saw that photo today of him with the blood streaming down his face — I don’t want to say the election’s over but … Anything can happen in an election. But Jesus Christ: MAGA nation finally has its full martyr.”
https://decider.com/2024/07/15/bill-maher-trump-assassination-attempt-maga-martyr/
Former House Speaker Nancy Pelosi told President Biden in a private conversation that polling indicates he can’t beat Donald Trump in the 2024 election, according to a report.
Pelosi (D-Calif.) also conveyed to Biden, 81, that his continued presidential re-election campaign could destroy Democrats’ chances of winning the House in November, four sources told CNN.
During their private conversation, the California congresswoman referred to several polls showing that Trump would beat the incumbent, the report said. Former House Speaker Nancy Pelosi told President Biden in a private conversation that polling indicates he can’t beat Donald Trump in the 2024 election, according to a report.
Pelosi (D-Calif.) also conveyed to Biden, 81, that his continued presidential re-election campaign could destroy Democrats’ chances of winning the House in November, four sources told CNN.
During their private conversation, the California congresswoman referred to several polls showing that Trump would beat the incumbent, the report said. Biden reportedly pushed back — telling Pelosi that all polling he’s seen has pointed to a successful re-election bid. One of the sources on the call described Biden as “defensive,” CNN reported.
On Saturday, Senate Majority Leader Chuck Schumer (D-NY) encouraged Biden to step aside.
“Schumer forcefully made the case that it would be better for Biden, better for the Democratic Party, and better for the country if he were to bow out,” ABC News’ Jonathan Karl said on air Wednesday.
Bleak numbers — including one poll showing the incumbent coming in last place among his own party members — were a major focus of Schumer’s case.
Neither Pelosi nor Schumer has publicly called on Biden to end his campaign, but 21 other Democratic members of Congress have.
Rep. Adam Schiff (D-Calif.) became the highest party leader to turn against Biden, saying publicly Wednesday it is time to “pass the torch.”
In spite of Biden’s reported defensiveness, insiders say Pelosi and Schumer’s private arguments have swayed the president toward becoming more “receptive” to the idea of stepping down.
It’s unclear whether Biden would favor Vice President Kamala Harris to succeed him if he suspends his campaign, but “private conversations” between the White House and Capitol Hill were showing that he was more “receptive” to a replacement candidate.
“He’s gone from saying ‘Kamala can’t win’ to ‘Do you think Kamala can win?’” a senior Democratic adviser told CNN.
https://nypost.com/2024/07/18/us-news/nancy-pelosi-privately-told-biden-he-cant-beat-trump-in-2024-presidential-race/
Whatever they say, they’re running out of time. When Biden resists, they have to waste precious time dealing with Biden, and have no time to think of who to replace him with. It will have to be Kamala, who they know is a terrible choice.
Now that Biden’s age and senility are liabilities to The Cabal, they’ve conveyed their decision that he needs to be jettisoned. If persuasion doesn’t work, The Cabal can order their minion AG Garland to pretend to do his job and order a real investigation of the Biden Crime Family. I suspect Dr. Jill and Hunter would quickly see the light & tell Dementia Joe the nursing home beckons.
Biden’s liabilities are so obvious I wonder if this political theater is scripted to keep us glued to our seats?
U.S. prosecutors have started dropping obstruction charges against defendants alleged to have been involved in the Jan. 6, 2021, breach of the U.S. Capitol, in the wake of a crucial Supreme Court decision.
Government prosecutors informed defendants and the judge overseeing the defendants’ cases that it will drop charges brought under federal law Section 1512(c)(2) in light of the ruling from the nation’s top court, according to a July 15 filing.
“This decision was made in order to avoid disruption to the trial schedule for a five-defendant case, and the dismissal eliminates the need for additional litigation as to the sufficiency of the Section 1512 charge as applied to these defendants,” the prosecutors told the judge.
Prosecutors in a separate Jan. 6 case said on July 11 that they were dropping the same obstruction charge against defendant Mark Sahady after the judge ordered the government to participate in a briefing on the effects of the Supreme Court decision on his case and rejected a motion from the government for more time to assess the ruling’s impact.
Defendants in other cases, and multiple people who have been convicted and are awaiting sentencing, have asked judges to consider the effect of the ruling. Some of the judges have ordered prosecutors to file briefs presenting their positions on what impact the ruling has on charges against the defendants.
The majority of Supreme Court justices said in the ruling, released June 28, that federal prosecutors went overboard in their application of Section 1512, which was approved by Congress in the aftermath of the Enron scandal and bars altering, destroying, mutilating, or concealing records.
The law also says that a person who “otherwise obstructs, influences, or impedes any official proceeding or attempts to do so, shall be fined under this title or imprisoned not more than 20 years, or both.”
Prosecutors said that the latter part of the law cover various crimes carried out by Jan. 6 defendants, a view rejected by the court’s majority.
“It would be peculiar to conclude that in closing the Enron gap, Congress actually hid away in the second part of the third subsection of Section 1512 a catchall provision that reaches far beyond the document shredding and similar scenarios that prompted the legislation in the first place,” Chief Justice John Roberts wrote.
Proving a violation of the law requires prosecutors to show that a defendant impaired or attempted to impair the availability of records or documents used in an official proceeding, according to the ruling, which was made in favor of defendant Joseph Fischer.
Some 1,472 people have been charged in relation to the Capitol breach. Of the 259 defendants charged under Section 1512, 133 have already been convicted and sentenced. All of those individuals were charged with at least one other crime.
Attorney General Merrick Garland said after the Supreme Court decision was handed down that he was disappointed because it “limits an important federal statute.”
He added that the Department of Justice “will take appropriate steps to comply with the court’s ruling.”
https://www.theepochtimes.com/us/federal-prosecutors-start-dropping-jan-6-obstruction-charges-after-supreme-court-ruling-5688322
OpenAI CEO Sam Altman has joined the list of billionaires with expensive property headaches
I guess AI is of no help with house inspections.
It is helpful with a handy haiku about it tho:
Mansion-buying spree
CEO’s wallet leaks like
His new faulty pool
and it never runs out lol
Billionaire’s folly
Golden taps, marble floors sink
Pool becomes indoor
John Deere announced it will be scuttling nearly all its diversity, equity and inclusion (DEI) polices in favor of a quality-based workplace.
https://www.foxbusiness.com/media/john-deere-releases-statement-rejecting-dei-policies-committed-our-customers
“Woke” anti-white companies need to be boycotted into insolvency.
John Deere announced it will be scuttling nearly all its diversity, equity and inclusion (DEI) polices
It is mind boggling to me that companies that build farm and garden equipment (tractor Supply also) went woke. I only know 1 real farmer that still farms, but the former and deceased farmers would no way in he$$ be on the woke train. How stupid can you be? (see Bud Lite)
‘Well, overall it’s dramatic for the time, that’s for sure…Rodi says the ever-increasing cost of property insurance in Louisiana is the biggest factor in the dramatic dip in sales. According to ATTOM Data Solutions, 11.3% of mortgages in the state are considered to be seriously underwater. But the insurance crisis is something few people have answers about. It is something Rodi hasn’t experienced in his 47 years in the real estate business. ‘I don’t think we’re at a panic stage yet. A worrying stage? Yes’
It’s called risk layering Mark. When you do that any hiccup does what yer seeing.
‘During the pandemic, government agencies and mortgage providers expanded the range of forbearance options to borrowers, allowing them to pause or reduce their monthly payments. But these pauses did not affect the underlying loan, which still needed to be paid off in full at a later date. ‘One of the issues is that people come off these forbearance programs and they don’t have the money to pay for it’
Remember all the guberment assurances that this wouldn’t happen? The article mentions the dreaded ‘dual tracking’ in foreclosure. I haven’t seen that mentioned in a while.
‘Turcotte, who lives in this community, is worried about his home’s value crumbling. Repairing every building could cost $160,000 per condo. That’s half the value of each unit, which typically sells for a little over $300,000. The problem first came to light because cracks in the most-damaged building meant condos could not pass an inspection required in a sale. ‘I never even heard of [the crumbling concrete issue] until it came up in this condo association,’ said Turcotte. ‘No one’s going to want to buy it, the property value will drop significantly’
Some knife catcher will buy it Ron, at a discount to what you paid fer sure. You haven’t done any cash out refis perchance?
According to ATTOM Data Solutions, 11.3% of mortgages in the state are considered to be seriously underwater.
Is that a lot?
‘The assessments are ‘tremendously expensive — anywhere from $50,000 up to $400,000 per unit…It’s crazy, and consequently nobody wants to buy that inventory that’s 30 years and older.’ Nearly 90% of active listings in South Florida are condos over 30 years old, he added’
I’ve watched you guys sleepwalk into this obvious debacle for a long time Craig. Bravo, you stank the place up good this time.
‘I don’t think we’re at a panic stage yet. A worrying stage? Yes,’ said Rodi.”
He who panics first, panics best.
‘One of the issues is that people come off these forbearance programs and they don’t have the money to pay for it,’ said Mark Fessler, head of the housing unit at South Carolina Legal Services.”
No one could’ve seen it coming. No one at all.
Those who live there say it’s a warning sign for everyone in the state, and Beacon Hill must finally take action to help struggling homeowners financially.
Why are taxpaying renters under any obligation to help FBs?
“Insurance won’t cover it. You can’t get a loan for it, because it’s devalued the actual property so much,” DeRosa said. “I was told that the closest one to here was 35 miles away in Winchendon. So they never expected [to find pyrrhotite] here.”
Where’s that welder’s spark when you need it?
Pyrrhotite in concrete foundations…
https://www.youtube.com/watch?v=0UcAMlm_0SA ~2m54s
‘alerting him that he would be dropped in the middle of hurricane season. ‘I was really shocked…Because I was never late with any payments, and again, the house was built in 2017. No issues whatsoever, never filed any claims’
Yer the perfect customer for insurance Lionel. The money only goes one way. And when they finally fook you, the only thing you can do is b$tch.
‘According to the notice of non-renewal, Florida Peninsula wrote: ‘We are reducing our exposure to hurricanes and other perils. We are reluctantly taking this step to prudently manage our risk, remain financially viable’
They rolled the dice, made a bunch of money and it’s time to get out while the gettins good! Central planning!
Each year, Lionel did a perfect 180 and never looked back. And now, suddenly, the love is gone! This annual struggle and abrupt end questions the validity of the American Dream.
‘Realistically, $7.1 [million], I mean, that’s laughable, right?’ He said. ‘It’s really a disrespect to all three of us that they would even put in a $7.1 [million] offer on an $8.7 million house.’”
Except it isn’t an $8.7 million house anymore, Tracy, as evidenced by the lone “laughable” offer. Watching delusional sellers and entitled realtors chase the market down is going to be comedy gold. Got popcorn?
‘the report’s data suggests that many sellers are being inflexible on price and unwilling to negotiate. This mindset may be stuck in a market that is ceasing to exist. ‘That’s probably a byproduct of what we saw during the pandemic, when homes were really flying off the shelves. We’re still seeing remnants of that mentality amongst sellers,’ Knapp said. ‘It is going to be important for those sellers to be willing to negotiate a little bit more moving forward, especially amid such a strong uptick and active listings’
Yer job now Clare is talking them down outta that tree, I can see that. Even though yer an economist.
‘To have to fight this hard to sell what I consider to be a beautifully executed property is a defining moment in where the market is,’ she said. ‘The market’s f-cking sh-t.’
You stand yer ground, Greedhead Tracy. This listing is special. You keep fighting to get your delusional wish price – it’s the principle of the thing that matters here, not actually offloading that overpriced shack before the bottom drops out of the market.
Here it seems Altman’s legal team would agree, saying the owner purchased what they ‘believed to be a beautiful, luxury home’ when in fact they were sold a ‘$27 million lemon.’”
Sam Altman has been a major donor to the Democrat-Bolshevik termites in the foundations. Therefore it gives me great glee to see him a “victim” of the collapse in standards that has been a hallmark of “Our Democracy.”
Sales have fallen about 50 per cent from the hectic days of the COVID-19 pandemic, she says.
Is that a lot?
‘You don’t need a degree in statistics to realize that Germany is slipping into a deep housing crisis.’”
Germany has worse problems than a housing crisis, as Frau Merkel’s millions of unassimilable globalist imports waste no time bringing vibrant cultural enrichment to their hosts.
When the biological alarm goes-off those blue-eyed blondes are going to put an end to the master race.
‘If housing prices keep shrinking, I wonder what kind of security I will have in my 70s,’ the 58-year-old told Barron’s in a phone interview.
You’re looking at this all wrong, Zhong. Aren’t you happy that your children & grandchildren will now have a shot at owning their own skybox some day as prices plummet?
‘Realistically, $7.1 [million], I mean, that’s laughable, right?’ He said. ‘It’s really a disrespect to all three of us that they would even put in a $7.1 [million] offer on an $8.7 million house’
That’s the spirit!
‘You and I both know, James, that this property a year ago would have traded with a 9 in front of it’ she admitted’
Here it comes.
‘Trying to keep up with what’s happening every day in this market is painful. Without this lowball [offer], we’d be having a discussion in a few weeks from now if we didn’t have another offer on the table and reducing to the same price without the leverage of having an offer in hand’ After agreeing on the new price…‘I’m glad we had this call, I was pretty ticked off about it as well. Let’s turn the lemon into lemonade.’ She then mumbled after hanging up, ‘I’m over it.’ ‘We should’ve been under 8 [million] all along,’ she later added. ‘I hate to say, ‘I told you so,’ but I told you so’
A busy strong agent wouldn’t take an over priced listing.
‘To have to fight this hard to sell what I consider to be a beautifully executed property is a defining moment in where the market is,’ she said. ‘The market’s f-cking sh-t…It is going to be a long year for real estate agents and brokers around the country.’ However, she wasn’t giving up hope. ‘I think we’ve got a little bit of time,’ she told her clients. ‘We made this reduction. I mean, there’s stuff that’s sitting on the market, you guys, for 1,000 days … We do not reduce again. You’re under-selling it at that point’
Yer a big mess Tracey.
‘A major shift in 2024 is that an increasing number of sellers have become resigned to the fact that those record prices are not returning soon. She points to a Victorian-era farmhouse with 3.7 acres of land and a pebble beach listed last summer with an asking price of $1.579-million. The waterfront property sat through the fall until the owners took it off the market. It came back in the spring with an asking price below $1-million and sold within a couple of weeks, she says. Homeowners often wanted to start with a lofty asking price in the past, but more people today accept that they need to be priced in line with the market. ‘We don’t have to fight tooth and nail,’ she says of those conversations. ‘People understand you have to start competitively – otherwise you end up sitting or chasing the market down’
They always come down outta the tree Tammy. Where else are you going to go, yer in a tree?
‘a continued downturn in demand in the construction and real estate industry. Germany’s property sector, in its third year of decline, is undergoing its most severe slump in decades. ‘Building permits in Germany continue to go in only one direction: down…You don’t need a degree in statistics to realize that Germany is slipping into a deep housing crisis’
I understand yer kind of down Felix, so maybe it’s an inopportune time to ask, but wa happened to my shortage?
‘taken a $150,000 loss on his Vaucluse townhouse investment after pocketing $1,475,000 in its midweek settlement. Knight…bought the three-level townhouse for $1,625,000 in January last year. It suggests Knight may have overpaid to buy into the block’
Liam took a mighty a$$ pounding.
The Washington Post? LOLZ
Washington Post — Obama tells allies Biden’s path to winning reelection has greatly diminished (7/18/2024):
“Former president Barack Obama has told allies in recent days that President Biden’s path to victory has greatly diminished and he thinks the president needs to seriously consider the viability of his candidacy, according to multiple people briefed on his thinking.
Obama has spoken with Biden only once since the debate, and he has been clear in his conversations with others that the future of Biden’s candidacy is a decision for the president to make. He has emphasized that his concern is protecting Biden and his legacy, and has pushed back against the idea that he alone can influence Biden’s decision-making process.
Behind the scenes, Obama has been deeply engaged in conversations about the future of Biden’s campaign, taking calls from many anxious Democrats, including former House speaker Nancy Pelosi (D-Calif.), and has shared his views about the president’s challenges, according to people with knowledge of the calls, who spoke on the condition of anonymity to discuss private conversations.”
https://archive.ph/9e9go
“Don’t underestimate Joe’s ability to fuck things up” —Obama
‘The Vietnamese government’s liberal approach in issuing licences for new condotel projects led to an oversupply in the market. Moreover, the rise of platforms like Airbnb added another layer of complexity. Many unit owners chose to rent out their properties independently, bypassing the rental pools managed by developers. This move put further pressure on the returns for those who remained within the official rental management systems’
So apparently the greedy commie guberment there had a cartel like thing for renting these speculative airboxes out and STR companies fooked them and them selves. I don’t see a downside.
‘If housing prices keep shrinking, I wonder what kind of security I will have in my 70s,’ the 58-year-old told Barron’s in a phone interview. Nearly all of his family’s savings have been put into their two apartments, leaving Zhong hesitant to buy much beyond necessities’
There are many millions of people in this situation right now. Central planning!
Some Seller’s Are So Lost (York Region Real Estate Market Update)
Team Sessa Real Estate
30 minutes ago VAUGHAN
In this episode we take a look at the current Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices and real estate market trends for week ending July 10, 2024. We also discuss the problems when sellers choose to ignore what’s happening around them and only look at what fits their narrative.
https://www.youtube.com/watch?v=B8KWx8528xg
10 minutes.
Gotta love these values, e.g., 1.9M, 1.6M, etc.; these Canucks are mighty proud of their igloos!
Marvin Gaye — Trouble Man:
https://www.youtube.com/watch?v=6kduvcqx-BU
Do you worry that after years of euphoria, the stock market might majorly CR8R?
The stock market is flashing warning signs as tech shares are a ‘valuation timebomb,’ SocGen says
Jennifer Sor
Jul 18, 2024, 10:28 PM GMT+8
Stock market crash
OsakaWayne Studios/Getty Images
– The hype for tech stocks could be approaching an end, according to Albert Edwards.
– The SocGen strategist has been warning of a recession and coming stock crash for months.
– The tech sector is showing a number of signs that valuations are an overstretched “timebomb,” he said.
…
https://markets.businessinsider.com/news/stocks/stock-market-crash-dot-com-bubble-sp500-tech-overvalued-socgen-2024-7
Do you worry that after years of euphoria, the stock market might majorly CR8R?
I thought it would CR8R 2 years ago. Still lots of QE around as I understand, but yeah, maybe this time.
Probably October.