The Only People That Are Suffering Are People Who Have Invested Their Money Into These Properties, And They Are Now Worthless
A report from Boston.com in Massachusetts. “The median sales prices for single-family homes and condominiums in Greater Boston broke records for July but were less than what buyers paid in June, according to the Greater Boston Association of Realtors. ‘What we are experiencing at the moment is not a price correction, but rather a softening in prices,’ said Jared Wilk, the association’s president. ‘With the prime selling season behind us, we’re seeing fewer bidding wars, more offers under asking price, and homes that are taking longer to sell. As a result, sellers have become more flexible, with some agreeing to price reductions in order to sell.'”
From the Oklahoman. “Homes for sale are pouring onto the market compared with the trickle of recent months, and the increase in supply was enough to move OKC-area July home prices down slightly year over year and somewhat more month to month, Realtors reported. ‘I don’t see a price downtrend, simply overpricing occurrences and reality hitting. We aren’t in the season of 16+% (interest rates) any longer, which is good,’ said Jennifer Arsenault, managing broker at Flotilla Real Estate Partners in OKC. In OKC and its suburbs, July ended with 4,033 homes listed for sale with Realtors, a jump of 55.4% compared with July 2023. The increase in supply caused a relative decrease in demand, as it does, softening sales prices.”
“‘Sellers are starting to have to do more concessions and repairs to get deals to close, and buyers are much more cautious and prone to cancel contracts for less significant issues than we’ve seen the last four years. I think this is normal,’ said Kacie Kinney, an agent with Keller Williams Elite in Yukon. She added, ‘Nobody is moving because they feel like it. They either need the money out of the house or life circumstances necessitate it. Or both. Emotions are high.'”
The Nevada Appeal. “Home sales across Northern Nevada remain relatively flat due to high interest rates, but median prices continue to creep upward. ‘Twenty-four days is quick for property to get into contract,’ said Robert Bartshe, president of Sierra Nevada Association of Realtors. ‘Properties that are in good condition and are priced right go into contract quickly. Sellers who are priced a little bit high, those properties tend to sit, and that’s why we’re seeing more price reductions across the marketplace than we have in the last couple of years. With inventory on the rise, buyers have more options, so they’re taking a little bit more time to choose a property to make an offer on,’ he added.”
KTVU in California. “The median sale price of homes actually dropped in some Bay Area counties compared to last year. While the Bay Area has always been a ‘hot’ sellers’ market, there are signs that factors like high interest rates, low supply, and the ability to get insurance are impacting sales. Several factors could be contributing to these trends. Interest rates remain high. Insurance issues may also be a factor. According to the California Association of Realtors, nearly 7% of recent real estate transactions statewide fell out of escrow due to insurance problems. For buyers in high-risk wildfire zones, such as Marin and Sonoma counties, the inability to find homeowners insurance may also play a role in these market dynamics.”
Silicon Valley in California. “Claims of unsafe living conditions — including a lack of hot water, heat and air conditioning, along with thefts and poor security — have surfaced through a contentious legal battle over a San Jose housing tower. The allegations — filed in a civil complaint in Santa Clara County Superior Court — stem from delinquent maintenance fees involving a downtown double-tower residential complex at 188 West St. James Street. In April, nine condominium units were auctioned for a head-spinning price of $31,900 to help the homeowner’s association recoup unpaid maintenance fees owed by the site’s developer. PP MB, an affiliate of China-based Z&L Properties, has sued some HOA members living in the tower, seeking to block the final sale of the condos involved in the foreclosure auction.”
“On Aug. 9, some HOA members living in the high-rise filed documents alleging several problems with the western tower, where condo owners are living and condos remained unsold. The eastern tower has never been occupied. The homeowners also claimed the developer failed to secure the building’s lobby doors or garage doors, preventing them from closing properly. ‘There have been many thefts, including theft of bicycles from the bicycle room, packages from the package room, and personal items from residents’ storage areas,’ according to the legal filing. Many doors were installed incorrectly, allowing them to be opened from the outside with ease, the court papers state.”
“The homeowners also asserted that some non-residents have occupied empty condos from time to time. ‘The police have been called to the building many times for security reasons, including thefts, outsiders sleeping in the halls, and outsiders squatting in unoccupied units,’ the homeowners stated in the court filing. The homeowners complained that some of the problems have been ongoing for a considerable time. ‘About 20 to 30 homeowners have complained that they have not had heat, air conditioning, or both for more than two years,’ the residents stated in the court papers.”
From Fox 13. “A group of homeowners from Laurel Meadows, remained outside as the governor spoke about the resources it’ll bring to Floridians. After the governor left, Simona Lela tried to get a word with Sarasota County Commissioner Joe Neunder. Her concerns were not heard. There are a lot of homeowners left with barely a shell of their home, repairs will likely cost hundreds of thousands of dollars. ‘We are devastated. Where do we start? What do we do? All these things to fix your home. This is your biggest investment,’ said Lela.”
“Laura Wallace agreed. ‘We were all peacefully standing out here for hours, just wanted to get some answers. Want to know our county and government would support us. We feel really violated,’ she said. The inside of Wallace’s home has been gutted. ‘We are all trying to clean out our homes, some of us can afford a remediation company but we can’t afford to rebuild. People are walking away from their homes and our beautiful community,’ she said. Her home was the first built in Laurel Meadows 24 years ago. The home that brought her happiness for so long, now leaves her in despair. ‘ Heartbroken, defeated. We need help,’ she said.”
My Northwest in Washington. “Kevin Corbett, the CEO of Plus Investment (USA), waited over eight years for a master-use permit to build a 46-story residential tower near Pike Place Market. But he’s indefinitely paused the construction over the Seattle crime crisis. ‘Unfortunately, I don’t see us going vertical anytime soon with the continued public safety concerns in the neighborhood,’ Corbett told the Puget Sound Business Journal. ‘Open-air drug markets are still visible day and night on Second and Third Avenue. I know the city needs more resources, but I don’t see much new downtown commercial development happening until there is a stronger crackdown on these illegal activities.'”
“Homeless addicts openly buy and use their drug of choice, usually fentanyl but sometimes meth, across the downtown core. Some stand tall, swaying back and forth, stuck in their high. Others have bodies contorted into shapes and positions you didn’t think possible. Others are so blissfully high, they don’t even notice the oozing, festering wounds on their arms or legs. There’s trash everywhere. The smell of urine near on 3rd between Pike and Pine is so pungent you can taste it in the back of your throat. It’s what tourists first experience if they walk to Pike Place Market or take the light rail from the Seattle-Tacoma International Airport. Locals don’t want to even walk near the area. Why would they want to live there?”
“Normally, news of such a high-profile project being put on pause would generate media coverage. For this one, not so much. It’s been relegated to business and real estate outlets. Local media, like The Seattle Times, have gone out of their way to not blame the crime crisis for the problems in downtown Seattle.”
From Barron‘s. “There’s too much office space in every city, says Paul Dougherty. That didn’t stop him from buying a pair of Washington, D.C., office buildings in March for $323 million. It’s one of the largest office deals this year. Burdened by a stack of debt, the sellers had written the Market Square office complex down to zero. But it sits on Pennsylvania Avenue between the White House and Capitol, so it is popular with lawyers and lobbyists. Paying half what the sellers paid a dozen years earlier, Dougherty’s firm can now charge competitive rents. ‘We can buy an amazing piece of real estate at 40% of replacement cost,’ says Dougherty.”
“Dougherty’s firm bought Market Square from a joint venture of Blackstone and Pacific Investment Management’s Columbia Property Trust, which had paid $615 million in 2011 for the 750,000-square-foot project. In April, Isaac Hera’s Yellowstone Real Estate Investments bought the Deco-style tower at 1740 Broadway and 56th Street in Manhattan—once known as the MONY building—for $185 million. Blackstone’s EQ Office had paid $600 million in 2014 for the 75-year-old office tower. The Covid pandemic foiled Blackstone’s plans to raise rents after renovating the building. In 2022, it defaulted on its $300 million loan. Andrew Segal of Boxer Property in Houston made his fortune buying older ‘Class B’ buildings and renovating them for smaller tenants. He is staying on the sidelines for now. ‘I still think it’s early,’ Segal says. Suburban buildings could become interesting buys, but he says downtown districts are troubled by big homeless populations.”
The Globe and Mail. “The owner of the boutique Hotel Julie, star of a 2023 Crave television series based in Stratford, Ont., is one of a dozen borrowers facing demands for millions of dollars in unpaid debts amid one of the largest private lending collapses in Canadian history. In recent weeks the couple Jacob Norris Tayler (also known as Jake Tayler or Taylor) and Paula Rae McFarlane have been ordered by Ontario courts to pay back more than $452,000 owed to five different lenders who accepted promissory notes from their real estate investment businesses based in London, Ont.”
“The couple is just one of about a dozen borrowers who are also identified in court documents related to the receivership of The Lion’s Share Group Inc., a promissory note lending business run by former mortgage broker Claire Drage. Ms. Drage was the primary broker of close to $130-million in private mortgage and promissory note loans for the insolvent real estate company controlled by former child actor Robby Clark, who bought more than 400 houses in Ontario.”
“Many real estate investors have turned to promissory notes as a form of short-term loan. But they exist in a grey area of lax oversight and permissive regulations. That makes it difficult for individuals to get their money back if a buyer defaults; unlike a mortgage, a promissory note isn’t registered against a property, so the lender can’t attach a lien to a house and recoup their loan as a proceed of its sale. Harold Geller, a lawyer who focuses on investment losses, has said promissory notes are ‘a guarantee of nothing, of air.'”
BBC News in the UK. “A woman has said she is living in ‘limbo’ because she cannot sell her home due the condition of some roads and sewers in her housing development. Catherine Cooke, who lives in Ivy Mead Mews is Londonderry, said key infrastructure had not been adopted, meaning the roads and sewers are not maintained by statutory bodies. More than 70 homes in the development are affected, BBC News NI understands. ‘The house has been sold four times, it has never gone through and it won’t go through either,’ Catherine told the North West Today programme. ‘It has been a nightmare,’ she added. Fyth Ltd built the homes about 20 years ago.”
“Catherine said pushing to have the sewers adopted was like a ‘ping-pong game.’ ‘The balls are getting fired back and forward. The only people that are suffering are people who have invested their money into these properties, and they are now worthless,’ she added. ‘This house is my retirement, it was a big investment at the time. Now we are ready to downsize, we don’t need a five bedroom house anymore but I am stuck. We have been in limbo land for the last 12 months.'”
The Indian Express. “In 2022, Anita Kundu’s family pooled their retirement funds to buy a flat at Gurgaon’s Chintels Paradiso housing society. The upscale residential complex was in the news earlier that year when two women were killed after a portion of an apartment collapsed on them. ‘We knew of the collapse in Tower D, but we were made to believe that Phase 2 towers (A, B, C, and J) were safe. I even carried out a renovation worth Rs 20 lakh,’ she says. Recently, Tower C, where Kundu stays, was declared unsafe in a report by the Central Building Research Institute (CBRI).”
“‘If the builder knew the material used was corrosive, why would he sell the flats despite an incident? We saved our income and invested in the house. And when it was time to finally start building a life here, this happened,’ says Kundu. For over two years now, buyers of Chintels Paradiso flats have been going through a range of emotions — stress, anger, panic — as one tower after the other was declared unsafe for habitation. Tower C is the seventh tower, out of nine on the premises, to have been declared unsafe.”
“A few years ago, Jasmine Kaur had purchased a flat in the society; this apartment was the same one where she was staying on rent. Last year, she had to move out after her tower — Tower G —was declared unsafe. Kaur said reconstruction does not seem to be in sight. ‘The demolition has been at a standstill for long. We have to pay the price for amending a mistake the builder committed; we are being punished for buying a house,’ she said.”
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‘We can buy an amazing piece of real estate at 40% of replacement cost’
The market needs knife catchers Paul. Spreads the pain out.
I don’t have a good read on the specific CRE pricing, but I think the developer made a wise decision to buy the properties. This notion that every. single. office. building. will financially implode is a fantasy. The work-at-home issue is slowly being resolved, with the general consensus that most of the staff should be in the office 2-3 days/week. So, office space will still be in demand, just reduced by about 40%. What is most likely is that the demand will simply shift from poor properties to good properties. That is, instead of *each* building falling 40% vacant, 40% of whole buildings will be ultimately be 100% vacant, while the remaining 60% will fill up. The empty buildings will eventually be converting into housing or demolished.
The two-building complex that “sits on Pennsylvania Avenue between the White House and Capitol” actually IS an amazing piece of real estate. I’ve been there many times. The plaza in the middle, depicting a globe, is the US Navy Memorial. Anyone can commute right to that metro stop, and it’s all just too close to the Capitol and White House and various gov agencies to not attract tenants. I think those offices will fill up, so I don’t fault the developer for buying the complex.
RE hasn’t been kind to sh$tholes run by racist elected commies post minor respiratory illness.
You keep looking for a crash. Well, these two buildings were bought for 50% off the 2012 price. Unless there’s something specific I don’t know about, that sounds like the crash has already happened here, and it’s time for this particular office complex to start rising again. The developer will use saved money to charge cheaper rent for a prime locale, and yes it will attract tenants. Especially if there’s a new admin coming in (still up for debate).
Yes, you’re right. RE will not be kind to DC. But I predict that the unkindness will concentrate onto 40% of the office towers. RE will be kind to the remaining 60% of the office towers, and this pair of buildings will be in that 60%.
There is talk of many office buildings being obsolete and that they could be torn down.
I remember in ‘06 thru ‘08 you heard the exact same narrative. “Prices are softening”, “The market is normalizing”, “This is not a correction”, “Prices aren’t dropping, sellers are just overpricing”……if you believe this crappola then you deserve your schlonging.
“Subprime is contained.” — “Zimbabwe Ben” Bernanke
Today is the least amount of inspections we’ve had in years. Money has dried up.
“Money has dried up.”
I heard that from one of the girls in accounting at my material supplier 2 months ago.
Good! I have laundry list of electrical work I’d like to have done on my house, and I’m currently saving up for it. Maybe the prices will be a little lower. Or at the very least I wouldn’t have to wait long for the work to be done.
You’ll get what you pay for.
Does the state of Maryland have a website where you can check the license status of who you hire, like Colorado does?
Yes, plus we get some Best Pick Reports-type booklets in the mail. I also belong to Angie’s List (Angi), so I hope that will be good enough.
“The smell of urine near on 3rd between Pike and Pine is so pungent you can taste it in the back of your throat”
At least there’s no more mean tweets now.
But is there any good Mexican food?
#WalkScore
SweetPeaBelle
@SweetPeaBell326
Wow…just wow.
Look at the faces on the CNN panel as a huge truth bomb is dropped.
“Democrats have controlled the White House for 12 of the last 16 years, and somehow, it’s still all Trump’s fault.”
6:20 AM · Aug 21, 2024
·
https://x.com/SweetPeaBell326/status/1826202683612545344
by Sean Miller
August 22nd 2024, 9:02 am
The Biden Administration Commerce Secretary Gina Raimondo got fact-checked while speaking on ABC News after she claimed that the non-existent Biden-created jobs actually existed, rebuking data that indicates otherwise while simultaneously turning the debacle into an attack against Donald Trump.
RNC Research
@RNCResearch
Harris-Biden Commerce Sec. Gina Raimondo says she doesn’t believe new government data that shows almost a million of the jobs the Harris-Biden admin claimed to have “created” don’t actually exist.
“I’m not familiar with that.”
5:44 PM · Aug 21, 2024
https://x.com/RNCResearch/status/1826374800899752438
“Joe Biden and Kamala Harris were cooking the books the whole time and lying to the American people,” Cristina Laila said in The Gateway Pundit Wednesday. “The non-farm payroll growth between April 2023 to March 2024 was revised down, the Bureau of Labor Statistics said on Wednesday. That’s 68,000 fewer jobs per month – 115,000 fewer manufacturing jobs and 45,000 fewer construction jobs.”
the Bureau of Labor Statistics
I have an idea. Get these guys at the BLS a computer, that is linked to the IRS data base. Then they will know exactly how many people are getting a paycheck. Exactly.
“Get these guys at the BLS a computer, that is linked to the IRS data base. Then they will know exactly how many people are getting a paycheck. Exactly.”
That kind of thinking could potentially cost thousand of government jobs so we’ll be having none of that.
Plus I seriously doubt the IRS would provide external access to such databases to anyone, even other government agencies.
Lance Roberts is an analyst who appears weekly on Adam Taggart’s Thoughtful Money. He says that the BLS physically calls people up and asks them if they’re working. What a crock.
Lance thinks that BLS should just get their stats by purchasing the payroll data from all the major payroll companies.
Adam Taggarts “Thoughtful Money” and his guests, I believe is the best single place that you can find honest analysis
Agreed.
You missed the best part. Raimondo said she didn’t believe the data because [paraphrase] “I don’t believe anything Donald Trump says.” ABC had to remind her that the figures came from the Bureau of Labor, not from Trump. That’s when Raimondo started stammering.
And I remember when the liberals said they wouldn’t take the “TrumpVaccine”
Mayor Eric Adams said last month that the batteries have started 733 fires in the city since 2019, killing 29 people and injuring 422 more.
https://www.audacy.com/1010wins/news/local/fire-tears-through-queens-e-bike-shop-injuring-firefighter
Bill Clinton mispronounces “Camel-a” Harris during the DNC. Recently during a CNN panel Democrats got into a shouting match with Rep. Nancy Mace for not correctly pronouncing Kamala Harris’s name.
Aug 21, 2024
https://youtu.be/j7rPemuN5Mk?si=Ch5-U3P_NexaSeDi
I like the way Bill says it…
Camel-uh
Its always been in my life KA ma lah. the black way of pronunciation.
For a long time I thought it was “Kuh MAL uh.”
I’ve known a few who get angry and insist their name be pronounced a certain way, like they were masters of the universe. I usually persist in pronouncing their name as I please. I don’t care how they pronounce my name. It’s nice they remember who I am.
I hear emphasis on the middle syllable.
She grew up with her Indian mother.
A reader sent these in:
Existing home sales fell to their lowest level on record in July as home purchase cancellations hit their highest rate for the same month since the data tracking began
https://x.com/MacroEdgeRes/status/1825960392654467095
Price cuts all round me in Utah…… so many buyers are priced out……
https://x.com/mrsunbubbles/status/1825987202708394123
Oh no who will boomers find for exit liquidity, FED please ser mi familia.
https://x.com/ALRA369/status/1825965040949760376
A few differences in the economy today than 07 –
> demographics in the US are much worse & will continue to get worse (basically bad version of Margaritaville with $35 trillion debt load & $3tn deficit)
> we are relying on millions of single migrants to drive population growth & future economic growth
> companies are far more bloated & less innovative
> no one builds in demographic models into their hopium hype plans
> contraction on the construction side of RE has potential to be larger
> layoffs this time can be much larger with little absorption potential in the future as jobs disappear and outsourcing continues to expand
3rd world ‘quality of life’ snapback effect in full force.
https://x.com/DonMiami3/status/1826012318397772181
Those expecting stocks to push even higher and for more cuts to come than currently priced in, the bet is that this time is truly different than any time in the post-war period of central banking.
While it’s possible, rarely do “this time its different” bets work out well.
https://x.com/BobEUnlimited/status/1825844738433446056
“The market will regulate itself”
The market:
https://x.com/AvoToastCapital/status/1824231901437235555
Down goes another major auto OEM’s plans for an Electric Vehicle (EV).
“Ford Cancels Plans for Electric SUV.”
It’s almost like it’s impossible to make money in EVs without:
• Gov’t subsidies
• ZIRP
• Low raw materials prices
Bullish ICE/Hybrids and PGMs!
https://x.com/marketplunger1/status/1826249238893789219
he US Labor Department revises 12-month job growth down by a massive 818,000 jobs.
In other words, the US economy actually created 818,000 LESS jobs than initially reported.
Furthermore, the US economy LOST 192,000 jobs in Q3 2023 and added 344,000 jobs in Q4 2023, according to the BED survey released by BLS.
On the other hand, nonfarm payrolls data showed that the US labor market added 663,000 and 577,000 new jobs in Q3 and Q4 2023.
This is a jaw dropping 1,088,000 difference in job count over just two quarters.
What is happening here?
https://x.com/KobeissiLetter/status/1826268602116210973
Same trend happening in the US now on home purchases as in Canada (but Canada has already cut rates twice)
No home sales boom boom! In fact, the opposite… I think we can expect the same here, my 2C. Rate cuts are rarely bullish for real estate sector & construction.
https://x.com/DonMiami3/status/1826297274877563231
The active inventory started to climb again. Added 10k line to the top of the chart! (Nashville)
https://x.com/AustinWhittRE/status/1826072296496255021
US existing home sales plummeted by 2.0% year-over-year to 4.1 million in July, marking the weakest July since at least 2012 according to Redfin.
Over the last 3 years, sales have declined by nearly 3 million and are sitting at their lowest levels since the 2020 Pandemic.
At the same time, pending home sales decreased by 5.8% year-over-year to their second-worst level on record aside from April 2020.
This follows ~59,000 pending home sales that fell out of contract, or 15.8% of all pending sales, the highest share of any July since 2017.
The lack of homebuyers has been driven by historically high prices with the median sale price reaching $439,170, just 0.7% below the all-time record.
Homebuyer demand is at 30+ year lows.
https://x.com/KobeissiLetter/status/1826266390908572096
Just saw my first house with a $50k loss even before broker fees here in CO. It was an amazing feeling! 🎉
https://x.com/BoomerBeetus/status/1826122653658132698
💸🏠 California moves ahead with $0 downpayment ‘loans’ for new homes for illegal immigrants
https://x.com/dailyjobcuts/status/1826104572219105766
In the olden days there used to be a more 2 sided approach to markets as seen by the Rydex bear/bull funds ratio at the bottom of the chart below.
But ever since markets became subject to permanent management by central authorities it has all died off, even corrections or crashes have no real impact any longer.
The bear/bull ratio has dwindled to virtually nothing.
It’s a long only world now.
https://x.com/NorthmanTrader/status/1825981670043820055
U.S MBA MORTGAGE APPLICATIONS (WOW) ACTUAL: -10.1% VS 16.8% PREVIOUS
U.S MBA 30-YEAR MORTGAGE RATE ACTUAL: 6.50% VS 6.54% PREVIOUS
https://x.com/DeItaone/status/1826212757835841654
What do you think is about to happen to construction employment?
https://x.com/PeterBerezinBCA/status/1826315641185275936
The residential real estate (RRE) market in the STR category is rapidly deflating, as evidenced by the collapsing property values along the 24-mile 30A corridor in NW FL. Presently, there are 2900 properties listed for sale.
https://x.com/W_O_R_T_H_1/status/1826347335296974876
This chart went viral, so I downloaded the data straight from the Canadian government to verify it.
Sure enough, the spike is real.
It appears that Indians have discovered a loophole in the asylum process—and they’re taking full advantage of it.
https://x.com/realChrisBrunet/status/1826073635838427407
“Mississauga Detached Home Sold for $925K”
A Stark Warning Sign in a Falling Market? 👇🏽
https://x.com/ShaziGoalie/status/1826384244442366210
The hood Olympics 😂
https://x.com/ClownWorld_/status/1826197623898038494
This is a jaw dropping 1,088,000 difference in job count over just two quarters.
What is happening here?
Just about any number published by the government is bogus: unemployment, inflation, GDP, etc,
It should be noted that revisions are still an attempt to paint the best picture they can meaning the real number is still far worse. The reality is things are getting too ugly for them to maintain the illusion.
They only need to maintain the illusion until election day, though that seems increasingly difficult to do.
“Just saw my first house with a $50k loss even before broker fees here in CO. It was an amazing feeling! 🎉”
The loss is actually much greater. Just had this conversation with a coworker and blew him away a little. If someone bought three years or 4 years ago at the top and they take a hit, then go ahead and add this on. Likely they were paying at least $1000 more per month for their mortgage than if they had rented during that time. Throw in other carrying costs and the loss for owning over renting is easy an additional 50k over the time they owned it. And it’s probably way more because that disparity between renting and owning is much, much more in most areas. So go ahead and believe if you want to that renting is throwing your money away.
+1
You have no idea the arrogance and sense of entitlement of loanowners in Colorado unless you live here and interact with some regularly.
Anyone who bought here 10+ years ago has experienced crazy appreciation (100-200%) and likely refi’d to under 3%. They are very smug.
Meanwhile, those who made the mistake of being underage back then can only look in dismay at how unaffordable housing is.
There will eventually be a black swan event that will force huge numbers of houses onto the market, and the smug owners will find that they have to resort to some serious sawing and slashing to unload their Dumver properties.
I genuinely used to think that about the bay area; a black swan would occur. And it did. And it’s epic.
I can’t begin to fathom how people with ordinary jobs can live in the bay area. I suppose that many, if not most, still live with their parents. I have heard stories of long bus commutes from the exurbs.
Nobody believes me (and hasn’t in 20 years) that in the late 80’s you could buy ANY house in Boulder for 80 to 100k dollars.
Boulder
The most overrated place in Colorado.
plus any repairs.
where of course if you’re renting, it’s just a phone call to the landlord “yo, come fix my AC/Furnace/roof/whatever it’s not my problem”
That assumes they’ll actually fix it. Don’t think that can be taken for granted.
The words in the following are accurate – but you have to click on the link to see the chart – it really hits home – wow – also keeping in mind the US pop has gone from 315M to 343M between 2012 and 2024
US existing home sales plummeted by 2.0% year-over-year to 4.1 million in July, marking the weakest July since at least 2012 according to Redfin.
Over the last 3 years, sales have declined by nearly 3 million and are sitting at their lowest levels since the 2020 Pandemic.
At the same time, pending home sales decreased by 5.8% year-over-year to their second-worst level on record aside from April 2020.
This follows ~59,000 pending home sales that fell out of contract, or 15.8% of all pending sales, the highest share of any July since 2017.
The lack of homebuyers has been driven by historically high prices with the median sale price reaching $439,170, just 0.7% below the all-time record.
Homebuyer demand is at 30+ year lows.
https://x.com/KobeissiLetter/status/1826266390908572096
A US$2.6-billion provision that Toronto-Dominion Bank recorded to cover expected regulatory fines wiped out the lender’s fiscal third-quarter profit, leaving TD with a small loss as it works to fix lapses in its anti-money laundering program.
The bank set aside higher loan loss provisions of nearly $1.1-billion, anticipating that more customers could default on loans as high interest rates and a slowing job market put pressure on households and businesses. That matched analysts’ expectations, but was up 40 per cent from $766-million in the same quarter last year.
https://www.theglobeandmail.com/business/article-td-swings-to-third-quarter-loss-on-us26-billion-provision-for/
Neighbors rallied Saturday against a tiny homes project coming to the intersection of Sweetwater Road and Troy Street. They called on county leaders to hear their concerns about why the location is unfit for unsheltered people to live.
The county plans to put 70 sleeping cabins to provide short-term housing for unsheltered people. Originally, the state offered $10 million for 150 sleeping cabins in Spring Valley. After resident pushback, San Diego County rescinded the Spring Valley housing plan and Governor Newsom withdrew funding.
The biggest reason residents say they don’t want the sleeping cabins in Lemon Grove is because there are schools and homes nearby, which they said would put children in danger.
“There’s already crime, why are we going to add to it? There’s inherent dangers in society, but when you add an element who cannot function in their current state, you’re opening a can of worms,” resident Stephanie Becker said.
https://www.msn.com/en-us/news/us/neighbors-rally-against-sleeping-cabins-headed-to-lemon-grove/ar-AA1oYOJ8
From the articles: “Originally, the state offered $10 million for 150 sleeping cabins in Spring Valley.”
“The site will include hygiene facilities (restroom, showers, and laundry).”
So it looks like a cabin camp with a central plumbing building. HBB construction folks, how much does it cost to set up a concrete pad, a shed, and wire it with electricity and a mini-split? $67K each?
I left San Diego county a long time ago, but I do recall that Spring Valley was a rough area, with shootings and such.
AFAIK, it still is.
A once-promising college track star turned homeless woman has been allowed to roam free and threaten to kill young kids on the streets of San Francisco for several years — despite racking up a lengthy rap sheet, terrorized parents claim.
Kim Ann Andrews, 36, has become notorious for allegedly spewing vile abuse, threatening to abduct children and even slit their throats in multiple swanky neighborhoods near the famed Golden Gate Park, the San Francisco Chronicle reported.
She has at least six arrests to her name this year alone for allegedly harassing families and making vile threats, police records show.
Andrews, however, has been cut loose every time — allowing her to return to the streets and continue her alleged troubling behavior, according to parents.
“It’s been four to five years and nothing has happened,” one mom, Jenna Palefsky, told the outlet after several run-ins with Andrews.
Cops finally issued a warrant for her arrest Tuesday.
The warrant comes a month after Andrews was last nabbed — and then set free as prosecutors built the case — for allegedly threatening a mom and toddler in a frightening incident in Golden Gate Park.
During that ordeal, Andrews is accused of holding a lighter to a can of Lysol as she screamed at the pair: “I’m going to kill you.”
She was slapped with criminal threats and child endangerment charges.
Other police reports filed against her include an alleged incident where Andrews spat on a heavily pregnant woman and raged: “I hope your baby dies.”
https://www.msn.com/en-us/news/crime/once-promising-track-star-now-homeless-spends-days-threatening-to-kill-abduct-kids-in-san-francisco-report/ar-AA1pbdsg
Georgia is one state that has seen an uptick in squatter cases being taken to court in recent years, according to a report.
A report by the Pacific Legal Foundation found an upward trend in squatter cases being brought to court beginning in 2019. The number of these cases in Georgia rose from three in 2017 to 50 in 2021.
In 2023, there were 198 civil court cases involving squatting in the Peach State, according to the report.
To collect the data reported by the Pacific Legal Foundation, Kyle Sweetland, a research manager for property rights for the public interest law firm, sought out states that had a “centralized record system” for squatting cases and found Georgia had the information available.
It’s unclear why squatter cases have spiked in the state, but there are theories.
“One thing that has been brought up [as] the reason for the backlog in the civil court system, which is what the squatters are taking advantage of, is the eviction moratorium in 2020,” Sweetland explained. The moratorium protected legal tenants, but squatters too, under Georgia’s old law, Sweetland explained.
https://www.yahoo.com/news/peach-state-crawling-vacant-housing-230847724.html
An Elkhart man was sentenced Monday to 293 months in prison for using his former position as CEO of a bank to embezzle tens of millions of dollars in a cryptocurrency scheme which led the bank to fail at a complete loss of equity for investors.
Shan Hanes, 53, of Elkhart pleaded guilty to one count of embezzlement by a bank officer, according to a release from the Department of Justice (DOJ).
“While serving as the CEO of Heartland Tri-State Bank (HTSB) in Elkhart, Hanes initiated 11 outgoing wire transfers between May 2023 and July 2023 totaling $47.1 million of Heartland’s funds to a cryptocurrency wallet in a cryptocurrency scheme referred to as ‘pig butchering,’” the DOJ release noted. “The funds were transferred to multiple cryptocurrency accounts controlled by unidentified third parties during the time HTSB was insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC absorbed the $47.1 million loss. Hanes’ fraudulent actions caused HTSB to fail and the bank investors to lose $9 million.”
A federal judge ordered the restitution be finalized at a separate hearing within the next 90 days, and officials involved in the case praised the ruling.
“Hanes’ greed knew no bounds. He trespassed his professional obligations, his personal relationships, and federal law. Not only did Shan Hanes betray Heartland Bank and its investors, but his illegal schemes also jeopardized confidence in financial institutions,” U.S. Attorney Kate E. Brubacher noted in the DOJ release. “This sentence is a measure of justice for the victims, and a statement that the U.S. Department of Justice will hold those accountable who violate positions of trust for their own gain.”
“Mr. Hanes, as the CEO of Heartland Tri-State Bank, held the trust and confidence of the community of Elkhart,, but he violated that trust. He attempted to benefit financially by embezzling funds from the bank. His idea to get rich quick, in all reality, was a pig butchering scheme. His involvement in this scheme ultimately led to the bank’s collapse. His job, the bank’s job was to protect its customers and identify fraudulent scams – not to participate in them,” Special Agent in Charge Stephen Cyrus of the FBI Kansas City Field Office, noted in the DOJ release.
https://liberalfirst.com/index.php/en/news/1002-failed-elkhart-bank-president-sentenced-to-prison-for-embezzlement
Duane Brown jets off to international destinations seven or eight times a year. After staying in his first Airbnb in London in 2011, the 42-year-old digital marketer was so enamored with the concept that he became a host himself. He welcomed guests to his two-bedroom apartment in downtown Toronto for a year and a half.
But Brown told Business Insider that more-recent disappointing experiences with short-term rentals had led to a change of heart.
On one trip to Budapest, Hungary, in 2019, Brown said he booked an Airbnb whose listing photos were shot at strategic angles that hid a dilapidated bathroom and damaged walls. He now stays in hotels, which he believes have a more consistent “standard of care,” he said.
“If there are no independent hotels or Marriotts, well, then maybe I’d go to Airbnb, but there’s always been at least one of those in a city I go to,” he said.
Adam Burgh, a 40-year-old Seattle startup founder, booked his first Airbnb in Rio de Janeiro over New Year’s Eve 2012. For seven years, he traveled South America, mostly staying in Airbnbs.
However, Burgh said a recent experience with cleaning fees had turned him off from the site entirely.
Earlier this summer, he was looking into a short getaway with his family to Whidbey Island, a ferry ride from Seattle. It was a last-minute trip, and he checked the available Airbnbs, gawking when he saw listings with cleaning fees as high as $200 for a two-night stay.
“What do you do with a $200 cleaning fee? There’s no way it should cost that much,” Burgh told BI.
https://www.msn.com/en-us/travel/other/airbnb-s-struggles-go-beyond-people-spending-less-they-re-losing-some-travelers-to-hotels/ar-AA1oHRfC
Workforce reductions are mounting across the tech sector globally as firms attempt to free up more resources for their artificial intelligence (AI) deployments.
According to tracking website Layoffs.fyi, tech companies laid off more than 165,000 people in 2022 and 264,000 people in 2023, with the latest data showing that 410 tech firms have laid off more than 132,900 employees in 2024 so far.
In a separate analysis of more than 700 layoff announcements from the technology sector, tracked by IT jobs portal trueup.io, BestBrokers estimated the number to be much higher, with a total of 203,946 employees being laid off across more than 165 tech companies worldwide since the start of the year.
Many tech firms have explicitly linked the layoffs taking place to the proliferation of AI and machine learning throughout their businesses.
This includes Cisco, which is cutting 7% of its workforce while investing $1bn in AI-related startups; Dell, which is cutting sales roles to reallocate resources to its AI teams; Meta, which, according to CEO Mark Zuckerberg, is laying off employees “so we can invest in these long-term, ambitious visions around AI”; Amazon, which is cutting several hundred positions to focus “resources and efforts focused on generative AI”; and Intuit, which is cutting 1,800 staff to free up more resources for integrating AI into its software offerings.
“The economic environment is still tight,” Layoffs.fyi creator Roger Lee told Bloomberg Technology. “Companies are finding that the only way to increase investment in AI is to cut cost elsewhere and hence all the layoffs that we’ve been seeing.”
For example, in a memo sent to employees in January 2024, Google CEO Sundar Pichai said the tech giant would “remove layers” of its workforce this year to free up funds for “investing in… [the company’s] big priorities… The reality is that to create the capacity for this investment, we have to make tough choices”.
https://www.computerweekly.com/news/366606035/Tech-sector-layoffs-mount-amid-AI-investment-frenzy
This includes Cisco, which is cutting 7% of its workforce while investing $1bn in AI-related startups
That’s $1B that’s going straight to money heaven. Meanwhile, Cisco will neglect the bread and butter part of its business that actually pays the bills.
10 EV Startups That Have Already Filed For Bankruptcy
It’s not been an easy few years for EV startups. A combination of rising costs, climbing interest rates, and lower market demand has seen even market leaders like Tesla find themselves in a difficult spot, with the company being forced to cut prices to shift excess inventory. At the same time, most major automakers are now significantly ramping up their shift to electric, with new EV models from the biggest names debuting across almost every segment. That gives small startups an even bigger headache, as they have to tempt buyers away from an ever increasing lineup of rivals from familiar brands.
As a result, a string of those startups have already run out of funding, and many more appear poised for bankruptcy sooner rather than later. Going bankrupt isn’t necessarily the end of the road for an automaker — just ask GM — but it seems unlikely that many of the current crop of startups will be able to relaunch. These failed startups are all at various stages of the bankruptcy process, with some gone for good and others emerging as shells of their former selves.
https://www.msn.com/en-us/money/other/10-ev-startups-that-have-already-filed-for-bankruptcy/ar-AA1pc7dg
How much are GM and Ford losing on every EV sold? $40,000 IIRC.
They’re literally (?) putting the cart before the horse. We should have been spending the past 10 years upgrading the electrical grid and building chargers. Instead, they were all trying to out-compete on the EVs themselves.
If I recall correctly the automakers were told by the regime to to start selling EV’s or else.
I also recall that the regime allocated billions to build thousands of charging stations, and so far only a handful have been set up and some of those don’t even work. As Robert Palmer once sang “there’s no telling where the money went”.
The big thing was govt cheese – $100B – click on the link. $30B just for batteries. Public companies could not logically resist
https://www.atlasevhub.com/materials/the-inflation-reduction-act-ev-provisions/
Creates advanced manufacturing production credits including $35 per kilowatt hour of capacity for battery cells. Meanwhile battery modules could qualify for a credit of $10 per kilowatt hour of capacity (or $45 in the case of a battery module which does not use battery cells), and 10 percent of the costs incurred for critical minerals and electrode active materials.
Department of the Treasury $30,622,000,000 Credit
One of China’s hottest new EV makers says it lost $9,200 for each $30,000 smart car it delivered
Chinese tech giant Xiaomi, known for making smartphones, turned heads in March when its maiden electric vehicle sold out with almost 90,000 preorders within a day of launch.
Its new auto branch posted an adjusted loss of $252 million for the second quarter ending June 30 — its first-ever full delivery quarter, the company said in its unaudited results filed on Wednesday.
That’s despite Xiaomi saying it’s on track to smash its target of 100,000 deliveries of its first car, the Speed Ultra 7, by November.
The new electric vehicle maker said it delivered 27,307 SU7s in the second quarter, meaning that, on average, it lost $9,200 for each car. The base price of the SU7 is 215,900 yuan, or about $30,000.
https://www.msn.com/en-us/money/other/one-of-china-s-hottest-new-ev-makers-says-it-lost-9-200-for-each-30-000-smart-car-it-delivered/ar-AA1pdSeS
A new law has come into force in Hungary which threatens to push thousands of Ukrainian refugees on to the streets or back to Ukraine.
The regulation restricts state support for Ukrainians to those who come from parts of Ukraine directly affected by the fighting caused by Russia’s invasion.
Thirteen regions in Ukraine are on the list, which will be updated monthly by the Hungarian government.
It is not known how many of the 31,000 Ukrainians taking shelter in Ukraine will be affected by the new law.
Human rights groups say the most vulnerable are those from the Roma ethnic minority from the westernmost Transcarpathian region, who are still living in shelters which will now close.
Their situation is complicated by the fact that many are dual Ukrainian-Hungarian citizens. That makes them ineligible for asylum elsewhere in the European Union.
Under the new law, only Ukrainians whose last official address in Ukraine was in an area “directly affected by military operations” remain eligible for state support, which includes free housing and a basic monthly sum.
https://www.msn.com/en-us/news/world/hungary-law-could-make-ukrainian-refugees-homeless/ar-AA1pa8BR
Human rights groups say the most vulnerable are those from the Roma ethnic minority from the westernmost Transcarpathian region, who are still living in shelters which will now close.
Gypsies, (the Roma) are especially despised in Hungary. When I was there I got an earful about them from the people I spoke with.
Don’t worry, Biden is importing them at a record rate and the gypsy crime crews are showing up all over the place.
After casting the tiebreaking vote for the biggest climate bill in U.S. history, Vice President Kamala Harris would seem to have some environmental bragging rights.
Yet Harris and other top Democrats have not highlighted climate change or the environment in recent stump speeches, including keynote remarks at the Democratic National Convention in Chicago this week. Former president Donald Trump, by contrast, has continued to attack Harris for her alleged “war on American energy,” and several speakers at last month’s Republican National Convention lambasted gasoline prices under President Joe Biden.
The split-screen approach suggests that Democrats see talking about the environment as a lose-lose proposition. If they call for curbing fossil fuel production to fight global warming, they risk alienating voters in Pennsylvania, a pivotal swing state where natural gas powers the economy. But if they tout record U.S. oil production that has helped lower energy costs, they risk angering young voters, a crucial constituency for Democrats.
But with most voters ranking other issues as more important, and with Democrats wanting to paint a rosy picture of the future, party leaders appear to have calculated that climate silence is the safest strategy.
“It looks like a deliberate decision to forgo both pro-climate and pro-drilling messaging,” said Kevin Book, managing director at ClearView Energy Partners, a research firm. “The campaign may have concluded that it has more to lose by alienating voters on either side than to gain by drawing in undecideds.”
https://www.msn.com/en-us/news/other/why-democrats-are-so-quiet-about-climate-change-right-now/ar-AA1pexiW
It is an incontrovertible rule of politics that party conventions focus on the future, not the past. Still, it has been jarring to watch Democrats in Chicago nominating Kamala Harris as their presidential nominee talk their way around the Joe Biden era as if it never existed and their party has not controlled the White House since 2021.
If you had just woken up after four years to tune into the Democratic National Convention in the Windy City, you might be forgiven for thinking that Donald Trump was still president. And that Ms. Harris was a fresh face promising “a new way forward” out of the Dark Ages, rather than still Vice-President in the sitting Democratic administration.
To be sure, there were all those “Thank you, Joe!” signs that delegates held up on Monday night as Mr. Biden took the stage, albeit well after the almost half of Americans who live in the Eastern time zone had gone to bed, to deliver the speech he never wanted to give.
Just what exactly they were thanking him for was mostly left to the imagination. Thank you for not making a scene on your way out the door?
https://www.theglobeandmail.com/opinion/article-bidens-shoddy-treatment-at-dnc-cements-his-status-as-a-tragic-figure/
“talk their way around the Joe Biden era as if it never existed and their party has not controlled the White House since 2021”
Orange man bad. He’s orange, and he’s bad.
NPC voters don’t need to hear anything more than that.
The real question is what percentage of the electorate are NPC’s?
Obviously they can’t win with just their vote. They need swing voters and ballot box stuffing,
“what percentage of the electorate are NPC’s?”
How many eligible voter Reddit users?
“has not controlled the White House since 2021”
They have controlled the White House twelve of the last sixteen years and the four years they didn’t control it they kept impeaching the occupant over made up bull sh#t.
At the DNC Cult Convention , the hero Speakers of that party seem to think Trumps responsible for their treasonous policies and nonsensical attack on the USA as we knew it for the last 3 1/2 years.
Firstly, they rigged the 2020 Election so they aren’t even legitimate to begin with in their treasonous and radical assult on this Constitutional Republic.
Biden/Harris allowed a unprecedented invasion of our Borders that was nonsensical, treasonous and destructive.
Biden gave our oil reserves to China.
Biden sneaks around transferring Power by Treaty to UN and WHO in his allegiance to , “The US should lead in the One World Order.” A basic attempt to erase all Constitutional protections for US Citizens.
-Biden has fostered World wars and escalation of conflicts costing billions . Biden gave our enemy billions in weapons by a bizarre withdraw from a 20 year war .
-Biden attacked a high percentage of US Citizens ,falsely accusing them of being “enemies of State” and a threat to Democracy.
-Biden colluded with Monopoly Corporations to forced EUA expiermental vaccine mandates, or you will lose you job. Biden Administration colluded with Media to obstruct free speech or dispute to counter measures of lockdowns , masks and killer vaccines.Biden attacked the unvaccinated and defrauded the public by saying vaccines were safe and effective and would prevent Covid.
-Trillions have been printed so Biden could fund Wars not in our interest, and the Cares Act transferred billions to Monopoly Corporations and the Medical Cartel, which destroyed small business, in the biggest Panademic Scam crimes against humanity. Created inflation that threatens survival of millions..
Biden /Harris administration fosters Transgender attack on minors and assult on parents rights to protect minors from their sex being altered .
– Biden /Harris has fostered unconstitutional bribery by discrimination on tax funds being used to pay off school loans, reparations , funds to invaders of borders, and funds to Monopoly Corporations . Platform to get women’s vote by government paying for child care.
-Biden/Harris platform to dismantle High Court , just because they didn’t like some of their rulings.
Biden using the Justice Department to attack political opponents like Trump, while ignoring overt crimes of their Cult. Deliberately breaking long standing laws and constitutional protections acting like radical new interpretations of law was the law.
– Promotion of “Green New Deal” based on fraudulent Climate Change Doomsday, with withdraw of sustainable energy , food etc.
Biden/Harris facism partnership with private party Monopolies, and promotion of Communism take over and destruction of a Constitutional Republic.
-Biden /Harris division by racism, and unconstitutional discrimination on targeted races .
-Commie Obama Care, and now promotion of “Medicare For All” which would create medical tyranny and you would have to wait 2 years to get a Dr appointment.
Promotion of price controls to combat inflation, when it would be a disaster of rationing , unemployment, and more destruction of competition.
I could go on and on, but everything about this Cult is to advance the One World Order Agenda of a Facism/Communist Dictorship , on a global scale .
The Democrates also want to take the guns, but the end game is no rights, no freedoms, with literally enslavement of populations while these Entities collude on control of all resources and consumption of earth’s resources.
Is the DNC working for the benefit of the Citizens of the US ,if you take all their actions and policies , and how destructive, nonsensical , treasonous and unconstitutional and outright fraudulent they have been .
The end game of these insane policies promoted by the DNC Cult is the China model and destruction
of USA, for a One World dictorship , Medical Tyranny, genocide and technological control of billions of people.
Infiltration of global governments to partner in this long planned power grab by these Entities is evident ..
The greatest culprits in this pre planned Great Reset of Civilization is the monopoly model of destruction of competition, and the Military industrial complex control of Government. It has brought us to the biggest assult on humans, plants, animals and earth’s terrain.
So, bottom line is don’t your instincts tell you that the DNC policies are a false construct of warfare on all we hold dear as American Citizens? All these commie/facism psycho fraudster nuts are the emeny of the people and the USA.
Wall Street Silver
@WallStreetSilv
Dana Bash explains that Democrat men are low testosterone and don’t identify with real men.
9:46 PM · Aug 21, 2024
https://x.com/WallStreetSilv/status/1826435692676649163
I saw that clip of Bash. 🤣
“They’re trying to put forward, uh, male figures, Tim Walz being one of them, Doug Emhoff last night, uh, who can, uh, speak to men out there who, uh, might not be the sort of, uh testosterone-laden, err, gun-totin’ guy who wants to, uh, listen to Hulk Hogan, and the um, kind of players that came out at the RNC…”
Admit it, Dana, you saw that testosterone in Butler. You saw it at the RNC. You saw it when JD Vance marched up the Air Force 2, and again when you did a one-on-one with Vance ten days ago. You want that testosterone. You NEED that testosterone.
“You want that testosterone. You NEED that testosterone.”
🙂
!
According to Wikipedia, Dana Bash is a two-time divorcée.
She’s only 53, very close to my age. Still young enough to want that testosterone.
Let it sink in. Government funding any Monopoly in anyway is Facism. Government funding any group at the expense of another group is communism. Government supplementing Big Business by taking their risk, by backing loss on loans for instance , is facism/communism. Government bailing out private party banks on losses from fraud is communism/facism. Even giving tax write offs that favor certain sectors is supplementation of that sector.
Giving welfare to segments of population can be justified if its not long term welfare. Giving welfare to the disabled, and those damaged by war might be the most justified to give. Giving government supplementation to Rich Monopolies and Rich Elites is not justified. Giving tax breaks for charity is justified if it actually goes to charity needed by segments of population. Government overpaying private parties for services commissioned by government is supplementation of a industry.
Concepts of equity for all, verses equal opportunity for all is Communism on steroids.
Government partnering with private party Monopolies is facism .
The government has been picking the winners and the losers for many years.
by Kelen McBreen
August 22nd 2024, 12:02 pm
Rev. Mark Thompson told Wednesday’s Democratic National Convention audience that American leftists and the political puppets running America into the ground have to pretend to behave well until the election cycle is over.
Thompson, host of the “Make it Plain” podcast, made the statement during the DNC’s Black Caucus Panel, saying, “We got 70 days to act right, y’all. Now, after 70 days, we can go back to acting crazy, right?”
Trump War Room
@TrumpWarRoom
QUIET PART OUT LOUD AT THE DNC: “We got 70 days to act right … After 70 days, we can go back to acting crazy.”
1:08 PM · Aug 21, 2024
·
https://x.com/TrumpWarRoom/status/1826305412544553470
Illegal Alien Pleads Guilty to Sexually Abusing 7-Year-Old in New York
by Dan Lyman
August 22nd 2024, 2:10 pm
On Tuesday, the Ulster County District Attorney’s Office announced developments in the prosecution of 41-year-old Carlos Fernando Pinola Pop.
Pinola Pop was arrested on October 13, 2023, in Kingston, NY.
“On September 25, 2023, the defendant subjected a seven-year-old child to sexual contact with his hands and penis on her vagina. The child victim told her mother, who informed a third-party community member,” the DA’s office explained in a press release.
Pinola Pop admitted to sexual contact with the child during questioning by the Kingston Police Department.
On August 15, Pinola Pop pleaded guilty to first-degree sexual abuse.
He now faces up to seven years in prison and registration as a sexual offender.
Pinola Pop is illegally present in the United States and could be deported following his prison term, although his nationality remains unclear.
Sentencing has been scheduled for October 10, 2024.
https://www.infowars.com/breaking-news/
Pinola Pop’s accomplices and accessories in the Democrat Party remain at large and above reproof.
Democrates are creepy brainwashed fraudsters, that would sell their sole to steal any unearned dollar they can get by their communist/facism ideology . They are no different than a low life thief in a alley with a knife wanting to rid you of your life and wallet.
I strongly suspect that those at the top may have quite literally sold souls to Satan in exchange for unimaginable power and wealth. Some even suspect that part of the deal will be a place of honor in Hell, perhaps sitting at Satan’s right hand side. The problem with that is that you’re still in Hell.
I strongly suspect
Same.
Jack Posobiec: “That’s crazy, they got Jeffrey Epstein’s best friend Bill Clinton and Harvey Weinstein’s best friend Oprah on the same night”
It’s quite a price to pay for what in the big picture is a very short time on Earth. One could say that the longest life is but a moment in eternity.
but a moment in eternity.
Important point.
Ontario man stumbles upon “mind-boggling” North Korean state TV broadcasts
Global News
18 hours ago
North Korea is one of the most isolated and secretive countries in the world. Its 26 million residents are cut off from the outside world, while North Korea’s government is extremely selective about what it chooses to show to outsiders.
Despite all of this, an Ontario man was able to tune in to a live feed of North Korean state television.
Global’s Jeff Semple speaks with Peter Fairlie about how he stumbled upon the network and what he saw.
https://www.youtube.com/watch?v=eBknQAwKe8c
2:10.
‘I don’t see a price downtrend, simply overpricing occurrences and reality hitting’
Jen.
via GIPHY
‘Sellers are starting to have to do more concessions and repairs to get deals to close, and buyers are much more cautious and prone to cancel contracts for less significant issues than we’ve seen the last four years. I think this is normal’
That’s the spirit Kaci e!
‘median prices continue to creep upward. ‘Twenty-four days is quick for property to get into contract,’ said Robert Bartshe, president of Sierra Nevada Association of Realtors. ‘Properties that are in good condition and are priced right go into contract quickly. Sellers who are priced a little bit high, those properties tend to sit, and that’s why we’re seeing more price reductions across the marketplace than we have in the last couple of years. With inventory on the rise, buyers have more options, so they’re taking a little bit more time to choose a property to make an offer on’
The UHS bible says 24 days is a seriously red hotcakes sellers market Bob, maybe even white hot!
‘The median sale price of homes actually dropped in some Bay Area counties compared to last year. While the Bay Area has always been a ‘hot’ sellers’ market’
End of story!
‘The couple is just one of about a dozen borrowers who are also identified in court documents related to the receivership of The Lion’s Share Group Inc., a promissory note lending business run by former mortgage broker Claire Drage. Ms. Drage was the primary broker of close to $130-million in private mortgage and promissory note loans for the insolvent real estate company controlled by former child actor Robby Clark, who bought more than 400 houses in Ontario’
By now this is a yuuge appraisal, mortgage and every slick whistle type of fraud going on. This is not a small amount of pesos.
‘Many real estate investors have turned to promissory notes as a form of short-term loan. But they exist in a grey area of lax oversight and permissive regulations. That makes it difficult for individuals to get their money back if a buyer defaults; unlike a mortgage, a promissory note isn’t registered against a property, so the lender can’t attach a lien to a house and recoup their loan as a proceed of its sale. Harold Geller, a lawyer who focuses on investment losses, has said promissory notes are ‘a guarantee of nothing, of air’
It’s good to know our neighbor to the north has sound lending Harold.
‘pushing to have the sewers adopted was like a ‘ping-pong game.’ ‘The balls are getting fired back and forward. The only people that are suffering are people who have invested their money into these properties, and they are now worthless,’ she added. ‘This house is my retirement, it was a big investment at the time. Now we are ready to downsize, we don’t need a five bedroom house anymore but I am stuck. We have been in limbo land for the last 12 months’
via GIPHY
Today’s wire pull went successfully enough, all the crew is coming back to pull in the last 240 feet of it tomorrow morning. That should only take a few hours. 150 feet from gear to pull box, another 240 from pull box to pull box (done). 240 more feet from pull box to new 277/480 Panel HT.
No mechanical tugger on this pull, we’re using the rented scissor lift to pull, four guys feeding it in by hand on the other side…
I did that stuff at an outlet mall build in the 1990’s in San Marcos Texas. I used my pickup to pull it.
‘In 2022, Anita Kundu’s family pooled their retirement funds to buy a flat…The upscale residential complex was in the news earlier that year when two women were killed after a portion of an apartment collapsed on them. ‘We knew of the collapse in Tower D, but we were made to believe that Phase 2 towers (A, B, C, and J) were safe. I even carried out a renovation worth Rs 20 lakh’ she says. Recently, Tower C, where Kundu stays, was declared unsafe…‘If the builder knew the material used was corrosive, why would he sell the flats despite an incident? We saved our income and invested in the house. And when it was time to finally start building a life here, this happened,’ says Kundu. For over two years now, buyers of Chintels Paradiso flats have been going through a range of emotions — stress, anger, panic — as one tower after the other was declared unsafe for habitation. Tower C is the seventh tower, out of nine on the premises, to have been declared unsafe’
I don’t know why he allegedly took yer pesos for a shoddy airbox Anita, but I’m pretty sure every tower loan owner is fooked.
‘A few years ago, Jasmine Kaur had purchased a flat in the society; this apartment was the same one where she was staying on rent. Last year, she had to move out after her tower — Tower G —was declared unsafe. Kaur said reconstruction does not seem to be in sight. ‘The demolition has been at a standstill for long. We have to pay the price for amending a mistake the builder committed; we are being punished for buying a house’
Beaten but unbowed Jasmine, it’s still way cheaper than renting!
Kennedy: My Most Controversial Issue
Robert F. Kennedy Jr.
2 hours ago
Today I’m going to set the record straight by explaining my exact posture, point-by-point, on what is probably the most controversial issue of my campaign—a medical safety issue that impacts every one of us. If you take a few minutes to listen, I think you might be surprised to find out how much we actually agree.
https://www.youtube.com/watch?v=XAtn39EJ9tU
11:17.
There was wild speculation that RFK Jr will be throwing in his lot with Trump.
Then there was another speculation from Jack Poso that it is Nicole Shanahan (the VP) who wants to defect to Trump, and RFK Jr is torn between Nicole and his ultra-lib wife. Both Trump and Vance have had to dance around the issue, only saying that they would welcome RFK into the fold. RFK himself just got out of court in NY — more ballot lawfare I think.
Tomorrow will be very interesting. My guess is that RFK will wimp out and not endorse anyone.
‘You keep looking for a crash. Well, these two buildings were bought for 50% off the 2012 price. Unless there’s something specific I don’t know about, that sounds like the crash has already happened here’
Has been for a while
‘The developer will use saved money to charge cheaper rent for a prime locale, and yes it will attract tenants. Especially if there’s a new admin coming in (still up for debate’
If it’s allowed to work capitalism will find it best use. President Trump is going to win in a landslide.
I hope so Ben, but we thought that before too.
However, there have been a few changes in election procedures which favor Trump. Plus it appears that the RNC has assembled a lot more ballot-watching volunteers. And this time, Trump’s base knows enough to vote early alongside the Dems, to avoid those last minute humps.
This week I requested my mail-in ballot. When it arrives, I will likely put it in a monitored drop box ASAP.
‘What we are experiencing at the moment is not a price correction, but rather a softening in prices,’ said Jared Wilk, the association’s president.
The data tells it’s own story, so your lies & spin fool no one, Jared.
‘I don’t see a price downtrend, simply overpricing occurrences and reality hitting.
I see a lying realtor trying desperately to obfuscate the fact that we’re in the early phase of a bursting housing bubble that is going to see shack valuations plummet – acknowledging that fact would not be conducive to Always Be Closing.
‘Nobody is moving because they feel like it. They either need the money out of the house or life circumstances necessitate it. Or both. Emotions are high.’”
Emotions are irrelevant, Lyin’ Kacie, except in the sense FOMO has turned to Fear of Getting Schlonged (FOGS). Millions of “homeowners” who bought during the scamdemic are already underwater on their shacks, which leaves them two options: walking away, or squatting in place and halting mortgage payments. Either scenario is going to put even more downward pressure on shack prices.
‘About 20 to 30 homeowners have complained that they have not had heat, air conditioning, or both for more than two years,’ the residents stated in the court papers.”
If you winnahs are still eating, then stop yer sniveling.
‘We are devastated. Where do we start? What do we do? All these things to fix your home. This is your biggest investment,’ said Lela.”
Maybe you should’ve done a more thorough due diligence on your investment, Lela. But taxpayers are under no obligation to make you whole on your losses.
You Don’t Mess Around with Jim · Jim Croce
https://youtu.be/hickVDiW8k0?si=C1rKjhVbJMjs4fcu
‘This house is my retirement, it was a big investment at the time. Now we are ready to downsize, we don’t need a five bedroom house anymore but I am stuck.
Cry me a river, speculator scum. You gambled and you lost, because you trusted the promises of developers who are part and parcel of a thoroughly corrupt system, and believed the lies of REIC shills who conditioned the gullible & greedy to believe that housing only goes up.
How come Mr Market dove into the CR8R today. Did something Powell said displease him?
How deep into the CR8R is that Blackstone BREIT? Deeper than acknowledged by valuations?
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Here’s How Blackstone REIT Values Assets — and Why It’s Drawing Concern
Largest US Nonlisted Property Fund Criticized for Appraisals, Though It’s Posted Losses Like Peers
Blackstone Real Estate Income Trust is the largest property nonlisted real estate investment trust in the country. (Getty Images)
By Mark Heschmeyer
CoStar News
May 16, 2024 | 3:41 P.M.
Blackstone Real Estate Income Trust, the prized fund of investment giant Blackstone, is often scrutinized because it’s far bigger than all other nonlisted property real estate investment trusts. Some critics have dogged the REIT for a couple of years over concerns about how it conducts appraisals, and whether those numbers accurately reflect current deflated property values.
But, while Blackstone REIT may loom large in total assets, a CoStar News analysis shows the values of its properties have dropped by roughly the same percentage as its rivals.
The issue is important to investors because valuations are used to calculate returns and share prices, and higher valuations mean increased fees. And since Blackstone REIT is the largest fund, with $130.8 billion in assets at the end of 2023 versus the next largest, Starwood REIT, at $23.1 billion, it carries influence with the most investment dollars at stake.
The criticism has drawn renewed scrutiny in recent weeks as interest rates that have remained higher for longer than some had expected have prompted a further reassessment of property values.
The analysis into the appraisal data from multiple peer nonlisted REITs indicate Blackstone REIT’s property valuations are in line with falling values across the sector as Blackstone REIT has adopted higher capitalization and cash flow discount rates.
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https://www.costar.com/article/482983259/heres-how-blackstone-reit-values-assets-%E2%80%94-and-why-its-drawing-concern