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There Are A Ton Of Properties On The Market … And You Will Get A Deal

A report from CNBC. “This month, Realtor.com released its report on the easiest and hardest housing markets for homebuyers right now. Lubbock, Texas, is ranked as the metro area where buyers have the most power. Hannah Jones, Realtor.com’s economist, states that because there were 80% more homes for sale in the Texas city than a year before, properties are sitting longer on the market, which is a good thing for buyers. ‘In response, eager sellers have brought prices down, suggesting that buyers are in a good position to negotiate,’ Jones says.”

ABC 3340 in Alabama. “Buying a home is likely one of the biggest investments you will ever make. Home inspections are seen as a way to protect your money and avoid a money pit. But beware even trained eyes can miss big problems. Brandon Gallagher bought his first home in Weaver in Calhoun County for his growing family. But the excitement quickly turned to anguish. He estimates the home will need $70,000 worth of work on top of the $145,000 he paid for it at closing. Gallagher says the inspection company did not honor its guarantee and the state licensing board dismissed his complaint. In the Gallagher’s case, the home was bought by the previous owner for $30,000 then sold months later indicating it was a flip. One that has left Gallagher with a lot of regrets. ‘Blows my mind; truly a helpless feeling,’ said Gallagher.”

From WFTV 9. “Some central Florida homeowners claim an insurance company received thousands of dollars from their escrow accounts even though they didn’t want to use that insurance company. With the insurance market in flux in recent years after hurricanes ravaged the state and after legal battles raged over roof damage, homeowners were already feeling the pinch. ‘You know in the last three years it keeps creeping up, creeping up,’ said Lake County homeowner Mike Ewing. Ewing’s insurance company, Farmers Insurance even pulled out of Florida and another insurance company called Slide took over 86,000 Farmers policies and tens of thousands more policies from other companies. Ewing said, ‘The rate that they wanted was astronomical.'”

“A month after cancelling, his records show Slide Insurance still went to his mortgage company with a new policy and requested the money from his escrow account and his mortgage company sent it. ‘Everybody in Florida, I think at this point, is struggling with insurance and for a company to swoop in like this and do what they’re doing is just rotten,’ said Ewing. And he’s not alone. He claims three of his own neighbors had a similar problem and Action 9 received a handful of other complaints about Slide from homeowners in other central Florida counties. One BBB reviewer wrote, ‘this has caused incredible damage to my escrow account.'”

Westword in Colorado. “Elizabeth LaRue’s home insurance premium jumped by 76 percent when she tried to renew in July. Instead of her previous $2,200 rate, the Park Hill homeowner was asked to pay $3,880 without explanation. And she’s not alone. Denver resident Frankie, who asked not to use his last name, says his home insurance premium rose to nearly $2,600 this month, from its original $1,600, a 62 percent increase. The year before, his rate went up by 23 percent, from $1,300 to $1,600. ‘I’m incredibly upset and angry,’ Frankie says. ‘I understand increasing by a small percentage each year to keep ahead of rising costs, but…this is simply unchecked greed.'”

“‘Between property tax increases and insurance increases, affordability is of great concern,’ LaRue says. ‘My concern is Colorado providers are going the way of Florida: High premiums and limited providers.’ ‘It’s tough because it’s not just that — it’s everything: insurance, property taxes, groceries, health care, entertainment and fees. Everything feels more expensive,’ Frankie adds. ‘I recently got a 5 percent raise at my job, but somehow I feel worse off than a few years ago.'”

The Palm Springs Post in California. “The Palm Springs housing market is experiencing a significant cooling trend, with declining prices and slower sales as part of a broader slowdown in the Coachella Valley region. According to the July 2024 Desert Housing Report, the median price of detached homes in Palm Springs has dropped 10% compared to last year, reaching $1,157,731. Attached homes have seen a 5.4% decrease, with the median price now at $430,456. The inventory of homes in Palm Springs has increased to 548 units, up from 421 units last year. This rise in inventory has led to a ‘months of sales’ ratio of 4.6 months, indicating a balanced market. Buyers are also benefiting from larger discounts, with detached homes selling at an average discount of 3%, up from 2% the previous year. ‘Sales this month are 27.2% below normal and have been declining over the last four months,’ the report states.”

The Real Deal on California. “The price of a typical house has inched down in Marin County, with homes taking longer to sell. The median price for a single-family home in Marin was $1.6 million last month, $10,000 less than the previous July, the Marin Independent Journal reported, citing figures from the county assessor’s offices. The typical home price in Sonoma County also dipped $960 to $850,000. The peak of Marin’s market was in the spring of 2022, when the median price for detached homes was $2.12 million in April and $2.03 million in May. It has not passed the $2 million mark since then, according to the newspaper. ‘It has shifted to be a little bit more of a buyer’s market,’ Jarret Weis, a Vanguard agent who represented the buyer in a $1.6 million deal for a Mill Valley house last month, told the Independent Journal.”

From CTV News. “As the weather cools down across Canada, so too is the cottage market, with real estate experts saying now is the time to purchase that cottage you’ve had your eyes on. There are an above average number of cottages for sale across Canada, even compared to pre-COVID levels. Ontario is experiencing some of its lowest cottage sales in recent memory, according to broker John Fincham who publishes analytics for the province. By April 2024, only 3,400 waterfront properties were sold in Ontario compared to 6,199 the previous year — a decline of more than 40 per cent and the lowest in more than two decades, he reports. In other words? ‘It’s firmly, firmly a buyer’s market,’ the Muskoka Re/Max broker tells CTV News. ‘Buyers are firmly in the driver’s seat.'”

“In addition, the current market can be attributed to stubborn sellers who believe the value of their cottage is the same as it was in the midst of the COVID-19 pandemic, says Ray Ferris, a realtor from the north shore of Lake Erie. He adds that buyers are now waiting longer on the sidelines to see how far prices will go down, giving them more time to make purchasing decisions. In Nova Scotia, fewer people have been looking to purchase ‘recreational and extraneous’ properties, says Chris Melnyk, a realtor with Royal LePage Atlantic. Instead, the real estate market is being driven by homes for function and utility: think entry-level detached homes in the suburbs.”

“As a result, ‘now is a great time to buy a cottage in Nova Scotia, especially if you’re willing to be a bit further out from the city or you have a bit of a higher price range,’ he says. ‘There are a ton of cottages and recreational properties on the market … and you will get a deal.'”

From News.com.au. “Relentless mortgage rises has forced families who were financially ahead to drastically change how they live. After relentless interest rate rises to the current level of 4.35 per cent, the average mortgage rate in Australia is now past six per cent. Brittany Smith bought at just 19 for a reasonable price, but now her mortgage has increased by more than $850-a-month. She’s gone from being able to spend at the grocery store without thinking about it to living on a strict budget. Ms Smith, 25, lives near Newcastle with her two children and partner. She’s witnessed first-hand how most families have to revaluate their spending. When she was working as a lash technician, she saw the business dry up.”

“‘I used to do lash extensions as my full-time job and people can’t afford these luxuries in this cost-of-living crisis,’ she said. ‘So much so that I had to go back to other work because I didn’t have enough clients anymore. Going from over 30 clients a week to nearly none.'”

Yahoo Finance. “A young Australian has urged wannabe homeowners to “get their priorities right” if they are serious about getting on the property ladder. Some have given up the dream of buying as property prices soared to new heights across Australia. But Zali Gillings told Yahoo Finance she was proof that cutting out ‘ridiculous’ spending on luxuries could be the answer. She and her fiancé bought a three-bedroom home in Adelaide two years ago after a financial ‘wake-up call,’ but not without significant sacrifice. ‘We honestly lived just off the absolute bare minimum for a good year and that’s what really topped up our savings,’ the now-25-year-old said.”

“Baby Boomers are often criticised for dishing out advice to cut back on spending on avocado on toast or coffee, but that’s exactly what Gillings said people need to do. Going out for dinner? That was gone. A bit of self-care at the salon? Out of the question. Some retail therapy? Not unless it was required for work. Gillings and her fiancé even agreed not to give each other Christmas or birthday presents, and they informed their family not to expect anything from them either. But this isn’t who her message is for. It’s the people who spend frivolously yet still complain they ‘never have any money.'”

“‘[Yet] they’ll still go and get their nails done every week, get their hair done, lashes, these types of things,’ she said. ‘For instance, if I wanted my lashes done, I would think ‘Would I rather someone give me a lash set, or would I rather someone gift me $120’ and I would always choose the money. Which tells me…you don’t need those lashes. That’s more money towards the house.'”

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This Post Has 87 Comments

  1. ‘The median price for a single-family home in Marin was $1.6 million last month, $10,000 less than the previous July…The peak of Marin’s market was in the spring of 2022, when the median price for detached homes was $2.12 million in April and $2.03 million in May. It has not passed the $2 million mark since then’

    All Time High Larry.

  2. “I understand increasing by a small percentage each year to keep ahead of rising costs, but…this is simply unchecked greed”

    At least it was cheaper than renting.

  3. “I recently got a 5 percent raise at my job, but somehow I feel worse off than a few years ago”

    Paul Krugman muh best economy ever?

    1. I read somewhere this morning that consumer confidence is up…….who’s buying this BS? You’d have to be a complete fool to believe the stuff they’re shoveling these days.

  4. CNBC (8/27/2024):

    “The Biden Administration “pressured” Facebook-parent Meta to “censor” content related to Covid-19, the social media giant’s CEO Mark Zuckerberg alleged, adding that he regrets some of the decisions taken in relation to the U.S. government’s requests.

    “In 2021, senior officials from the Biden Administration, including the White House, repeatedly pressured our teams for months to censor certain COVID-19 content, including humor and satire, and expressed a lot of frustration with our teams when we didn’t agree,” Zuckerberg wrote in a letter to the Republican-led House Judiciary Committee.

    In August 2021, Facebook said it had removed more than 20 million posts related to Covid-19 for violating its content rules across the main social networking site and Instagram.”

    https://www.cnbc.com/2024/08/27/zuckerberg-alleges-white-house-pressured-meta-to-censor-covid-19-content.html

    Covid vaccines are poison.

    1. In a letter to a US committee investigating online content moderation, Mr Zuckerberg said senior White House officials “repeatedly pressured” the company after Joe Biden was inaugurated in 2021.

      He said that Facebook “made some choices” that it would not have made today. “I believe the government pressure was wrong, and I regret that we were not more outspoken about it. I also think we made some choices that, with the benefit of hindsight and new information, we wouldn’t make today.”

      “Like I said to our teams at the time, I feel strongly that we should not compromise our content standards due to pressure from any administration in either direction – and we’re ready to push back if something like this happens again.”

      During the pandemic, Facebook added misinformation alerts to users when they commented on or liked posts that were judged to contain false information about Covid.

      It also deleted posts criticising the Covid vaccine, or suggesting that Covid was developed in a Chinese laboratory, a theory that has since become supported by some mainstream scientists and government agencies.

      In the 2020 election campaign, Mr Biden had accused Facebook of “killing people” by not clamping down on Covid posts more enthusiastically. He later rowed back on the comments.

      Mr Zuckerberg also said Facebook was wrong to suppress a New York Post story about Hunter Biden, Mr Biden’s son, which revealed that Hunter had offered business contacts access to his father when he was vice president.

      He said the FBI had warned the company about a “potential Russian disinformation operation” about the Biden family. Facebook had demoted the story while it was reviewed by fact checkers, which Mr Zuckerberg said was a mistake.

      The Hunter Biden laptop story, which was blocked by Twitter after it was published, was potentially damaging to Mr Biden’s election campaign. Blocking it has been seen by Republicans as proof of Silicon Valley’s Left-wing influence.

      Elon Musk released a series of internal emails about the decision to block the story after buying Twitter.

      https://www.msn.com/en-gb/news/other/mark-zuckerberg-covid-censorship-was-wrong-and-i-wish-i-d-fought-it/ar-AA1pv5It

      2. What a crock. Globalist oligarch Zuckerberg and other members of The Cabal needed no pressure to zealously censor and ban truth-tellers from social media. That’s who they are & what they do. Zuckerberg is probably savvy enough to realize that when it all comes crashing down, the pitchforks and torches will be coming for him and his ilk, so now they’re engaging in revisionist history and so-faux mea culpas.

      3. Mark Zuckerberg committed treason with his electoral interference and financing of the 2020 election steal. He is directly responsible for suppressing information on COVID vaccines that resulted in the deaths and injuries of countless people coercively forced to take these unsafe, ineffective “vaccines.” When the Nuremberg 2.0 tribunals start, he should be among the first defendants to face swift, summary justice for his role in perpetrating the scamdemic and censoring and suppressing truth-tellers who disputed globalist narratives.

  5. “…Elizabeth LaRue’s home insurance premium jumped by 76 percent when she tried to renew in July. Instead of her previous $2,200 rate, the Park Hill homeowner was asked to pay $3,880 without explanation…”

    Another Tuesday, another out-of-control holding costs story.

    Explanations? Elizabeth don’t need no stinkin’ explanations!

    1. This is Denver.

      All of these people were crowing about muh equity, until recently.

      Can’t afford insurance, AND you’re paying property taxes to essentially receive no municipal services from the city.

      At least it was cheaper than renting.

      1. AND you’re paying property taxes to essentially receive no municipal services from the city.
        But from what I have read, you do get the VZ gang cultural enrichment to enjoy.
        I know 2 people who live in apartments in Aurora, I hope they aren’t having to deal with the gangs. One is suppose to leave for college in August, the other works in Aurora.

  6. It’s for the children.

    Congressman Jim Baird
    @RepJimBaird

    🚨🚨A new DHS OIG report reveals nearly 300,000 illegal immigrant children are unaccounted for.

    The Biden-Harris Administration clearly has ZERO control over our border security.

    Joe Biden & Kamala Harris bear responsibility for these missing children.

    https://oig.dhs.gov/sites/default/files/assets/2024-08/OIG-24-46-Aug24.pdf

    5:45 PM · Aug 20, 2024

    https://x.com/RepJimBaird/status/1826012737928896727

    1. 300,000 children is that a lot?

      How many of them are locked up in the basements of members of Congress, Hollywood kid f*ers, and other World Economic Forum vermin?

  8. ‘White Fragility’ author Robin DiAngelo accused of plagiarizing minority scholars in Ph.D thesis

    By Chris Nesi
    Published Aug. 26, 2024, 4:14 p.m. ET

    Robin DiAngelo, the author and “anti-racism consultant” who rose to fame and made a fortune scolding white people for their inherent bigotry, has been accused of ripping off the work of two Asian American scholars in her 2004 doctoral thesis.

    A complaint filed with the University of Washington and obtained by the Washington Free Beacon outlines 20 examples of alleged plagiarism in the “White Fragility” author’s dissertation, “Whiteness in Racial Dialogue: A Discourse Analysis.”

    Among the examples cited are two paragraphs reproduced almost entirely from Northeastern University’s Thomas Nakayama — who is Asian-American — and coauthor Robert Krizek, in which DiAngelo fails to provide adequate attribution.

    https://nypost.com/2024/08/26/us-news/white-fragility-author-robin-diangelo-accused-of-plagiarizing/

  9. So the flipper of the trashed house only pd. 30K and got 145K for it? Good for him,or her ….And now the buyer is crying crocidile tears…..hey ,you were awake when you bought it, wern’t you ? The 70K he wants to spend ,or says he wants to spend ,sounds fabrication like….envy does that

    1. MarketWatch
      Home
      Investing
      Stocks
      Mark Hulbert
      Any way you look at it, the stock market is dangerously overvalued now
      Published: Aug. 26, 2024 at 1:20 p.m. ET
      By Mark Hulbert
      S&P 500 is almost as pricey as it was at the January 2022 bull-market top

      The U.S. stock market today is almost as overvalued as it was at the market top on Jan. 3, 2022.

      Comparing current valuation with what prevailed at previous market tops is important whenever the market recovers from a correction (or worse) and reaches a new all-time high. Investors can hope that the correction or bear market will have worked off some of the excesses that had prevailed previously and provide a foundation to support a significant new leg of the bull market.

      That isn’t happening now with the S&P 500 SPX, as you can see from the chart below. It shows where each of a basket of valuation indicators stands relative to the distribution of its monthly returns since 2000. A 100% reading means that it’s more bearish than at any other time, while a 0% reading would mean that it’s most bullish.

      Notice from the chart that not only are each of these indicators close to the bearish end of the spectrum, but each is almost as bearish as occurred at the market top in January 2022 — if not more so.

      This does not mean that the stock market SPX DJIA COMP won’t keep going higher. But if it does, stocks will be trading in even more rarefied air than before the 2022 bear market.

      Another reason that overvaluation doesn’t doom the market immediately is that valuation has relatively little predictive power at shorter-term horizons. But each of the indicators featured in the chart has an impressive record forecasting the stock market’s return over the subsequent decade. As I reported a month ago, they are forecasting returns between now and 2034 that are below inflation.
      …

    2. Do I worry? No.

      Is it “dangerously” overvalued? Overvalued, yes, but a danger to who?

    3. “…stock market is dangerously overvalued?..”

      From GOOGLE
      Over the last six years, the average PE ratio of Dow has been 20.04. The current 33.15 P/E ratio is 65% higher than the historical average.

      Nothing to see here folks, now move along….

      You will know the endgame is approaching when security values are reported in BTC (BitCoin) instead of dollars.

    1. CNBC
      Real Estate
      Home prices hit record high in June on S&P Case-Shiller Index
      Published Tue, Aug 27 2024 10:25 AM EDT
      Updated 25 Min Ago
      Diana Olick
      WATCH LIVE
      KEY POINTS

      – Prices nationally were 5.4% higher than June 2023.

      – New York saw the highest annual gain among the top 20 cities, with prices increasing 9% in June, followed by San Diego and Las Vegas with annual increases of 8.7% and 8.5%, respectively.

      – Portland, Oregon saw just a 0.8% annual increase in June, the smallest gain of the top cities.
      …

      1. Is that what you’re actually seeing? Not even close in the areas I watch. I recommend everyone do their own research these days. Because I call horse sh*t on all this so called data.

          1. Case-Shiller is also a repeat sales methid that only captures the price of what’s selling. If prices fall so far below market value that sales dry up, there will be no repeat sales data to document this fact, and the Case-Shiller Index will not reflect it. By comtrast, areas of the market where irrationally exuberant buyers drive prices sky high in bid wars will be overrepresented in the Case-Shiller Index values. By construction, the CSI is biased towards transactions representative of the Winner’s Curse.

    2. Existing Home Sales Rose 0.6% Last Month, But Were At the Lowest July Level on Record
      August 19, 2024 by Lily Katz

      – Sales of existing homes fell 2% year over year to a seasonally adjusted annual rate of 4.1 million in July.

      – Pending sales were down 3% month over month and 6% year over year—both of which were the biggest drops in nearly a year.

      – Home prices were just 0.7% below their record high—one reason buyers stayed on the sidelines despite a dip in mortgage rates.

      – Nearly 60,000 home-purchase agreements were canceled, equal to 16% of homes that went under contract—the highest percentage of any July on record.

      – One silver lining: The supply of homes for sale rose a record 14%. That’s partly because listings are getting stale and piling up, but it means buyers have more options and room to negotiate.

      Sales of existing homes rose 0.6% month over month in July, but fell 2% year over year—to a seasonally adjusted annual rate of 4,094,991. That’s the lowest July level in records dating back to 2012.
      …
      https://www.redfin.com/news/existing-home-sales-july-2024/

  13. Another property tax update from the Colorado Sun:

    https://coloradosun.com/2024/08/27/special-session-progressive-property-tax-bills/

    Bottom line:

    Tax cut should the measures pass – $2.4B
    Tax cut with the compromise bill – $769M

    Of course the usual players are screaming that it would be catastrophic should the measures pass, and that even the $769M compromise cut is too drastic.

    All it really means is that there won’t be any more TABOR refunds, since there will no longer be a surplus. And the Dems are in the process of converting the refunds, which are currently the same for all taxpayers into defacto welfare transfer payments as they are reallocating the bulk of the refunds to the “disadvantaged”, who had no taxes withheld to begin with.

    I will hand it to them, they were clever: by law they have to refund the surplus every year, and can’t spend it, so by refunding it only to those with lower incomes is becomes a form of welfare. Very clever. So they could jack up property taxes, and then not give the refunds to those who paid.

    I say no deal, leave the measures on the ballot and let the commies in Denver find someone else to mug. And while they are at it, they can send the freeloading invaders home.

  14. A reader sent these in:

    #VanRE Fuelling speculation, contributing to housing crisis. Half of the almost 8,000 private condos & detached houses under the auspices of UBC & UEL are not occupied by their owners, but serve mostly as 2nd or 3rd properties for investors.

    https://x.com/Hutchyman/status/1827804735056879806

    UBC, a hallowed institute of higher earning.

    https://x.com/PetePallett/status/1827921535434141696

    US households are struggling:

    US household income expectations over the next year dropped to the lowest level in 4 years.

    Consumers now anticipate a mere 0.8% year-over-year income increase, a sharp decline from the 2.5% rise expected in Q1.

    Over the last 50 years, such a rapid drop in expectations has only been seen during the 2008 Financial Crisis and the 2020 Pandemic.

    At the same time, Americans’ perception of real income improvement is at its lowest in over 10 years, even below 2020.

    These expectations do not bode well for consumer spending.

    https://x.com/KobeissiLetter/status/1827750267325993414

    Vegas: Have been tracking price for the past 18 months in single family homes under $700k and starting to see asking price cuts go from $10k normal expected to $40 & $50k. Something is changing right now.

    https://x.com/ericntyler/status/1827913509738582377

    “The worst of the housing affordability crisis is behind us. But the past two years have shown that housing isn’t a bubble that is likely to pop overnight, nor can prices be forced lower in the short term with government intervention,” per Bloomberg.

    https://x.com/unusual_whales/status/1827783250883874944

    Oh ok. ….”here’s some $25k gift down payments, courtesy of the tax payer to prove it’s not a bubble” ~ @KamalaHarris ~

    https://x.com/2300gearjammer/status/1827784873001525446

    Credit card defaults are now rising FASTER than the 2008 Financial Crisis

    https://x.com/WinfieldSmart/status/1825671830209700021

    Auto loan rejections are surging 📈

    19% of would-be auto loan borrowers got denied in the past year — the highest rate in over a decade.

    The primary reason?

    Lenders – grappling with inflation and rising defaults – are getting way more selective about who they lend to.

    And consumer debt-to-income ratios (a key metric for lenders) are flat-out too high.

    The good news?

    The Federal Reserve might be cutting interest rates on Sept. 18, potentially easing the debt burden for car buyers.

    https://x.com/GuyDealership/status/1827091545637712013

    We’re reducing the number of low-wage, temporary foreign workers in Canada.

    The labour market has changed. Now is the time for our businesses to invest in Canadian workers and youth.

    https://x.com/JustinTrudeau/status/1828098303596044512

    Why didn’t you prioritize Canadian citizens for the last 9 years?

    You’re such a fraud.

    https://x.com/KatKanada_TM/status/1828099450558165090

    They’re practically giving away Airbnbs in Scottsdale now

    From “Most Loved Home” to a 120k loss for the seller, minimum

    https://x.com/texasrunnerDFW/status/1828095018596475284

    Just pulled up Zilliow rentals in Austin and it looks like there are 21,816 units available.

    https://x.com/robbezdjian/status/1828179418998853863

    Europoors gonna Europoor

    https://x.com/GayBearRes/status/1827445090907820372

    https://x.com/GayBearRes/status/1827445163335282846

    My current home insurance: $2650. Checking renewals as mine renews in Nov 1st… Quotes just came back at $6047, $6500, and $6900. Part of the increase was replacement value was increased by 1/3. I live in the midwest.

    https://x.com/JSaliger/status/1828214190894363028

    Moving from the Midwest, this was a rude awakening. Our home insurance costs have increased by ~25% yearly over the past few years and will soon double from when we moved to the North Texas area.

    https://x.com/theNaseemMalik/status/1828207054047322149

    My insurance (in Houston area) went from 3k- to 5k+ to 10k in two years. Meanwhile, Biden said “we defeated inflation”.

    https://x.com/CommodityDude/status/1828206856659181691

    I am an independent agent in North Texas. It’s worse than anyone thinks. I’ve been in this industry for 20+ years. People are going to stop paying their premiums. Watch.

    https://x.com/Silverback82804/status/1828210830535492042

    Can confirm for Lucas in Collin County. Renewal quote came in at $11K. Double prior year. Was able to get coverage elsewhere for about $6.5K. Geico told me that they aren’t writing new policies in Texas.

    https://x.com/kenjudd/status/1828202471572779400

    That was exactly why we sold last May. We were literally forced out due to our insurance premiums doubling. It’s out of control. We were in Arlington.

    https://x.com/stocks1983/status/1828210281270415473

    Already at $6k a year in Prosper. Will be $8k soon.

    https://x.com/chicagobankers/status/1828225445671960908

    Not just North Texas – seeing the same in Sydney Australia. 4k last year 9k this year. Property is in a zero flood/fire risk zone zero claims ever. Climate change as seen in insurance premiums.

    https://x.com/SOGMeister/status/1828240071440716099

    Since 2022, nearly all employment growth in California came from the government, per Bloomberg.

    https://x.com/unusual_whales/status/1828066618745991639

    California has lost all of the tech-sector jobs it gained during the boom of 2021/2022, per POLITICO.

    https://x.com/unusual_whales/status/1828310978397904939

    80% of Toronto-area, Canada homes are selling below asking price, per Wahi.

    https://x.com/unusual_whales/status/1828059068591989081

    1. “Over the last 50 years, such a rapid drop in expectations has only been seen during the 2008 Financial Crisis and the 2020 Pandemic”

      Paul Krugman muh best economy ever?

      “This sucker could go down” — George W. Bush

    2. People are going to stop paying their premiums. Watch.
      It’s been a while since I was involved with Mortgage insurance but from what I recall “Forced Place Insurance” was much more expensive than getting insurance, and, your mortgage note probably states that insurance is required. I suggest you don’t stop making insurance payments, you may not the the outcome.

    3. The Federal Reserve might be cutting interest rates on Sept. 18, potentially easing the debt burden for car buyers.

      Let’s see, a $50K, 6 year loan:

      at 8% – $876 per month

      at 7.75% – $870 per month

      Yeah, that’ll get buyers off the fence

  15. A legislative change is threatening to unravel one of the world’s safest bets in renewable energy, a Chilean incentive program that lured companies backed by BlackRock Inc. and JPMorgan Chase & Co.

    President Gabriel Boric’s administration is seeking to raise funds by altering a pricing mechanism for small electricity generators that has attracted billions of dollars of investment in mainly solar power. Critics say the program, created under a previous presidency, has been such a boon for investors that it’s oversaturated the market and increased costs for the overall system.

    But if Chile reneges on a pricing commitment that was supposed to last for another decade, it will have a chilling effect on investment in a country known as business-friendly, investors say.

    “You invest in Chile thinking that this is Latin America’s Switzerland,” said David Crouch, managing partner of Aediles Capital Inc., which manages BlackRock’s energy assets in the country. “This action sets a dangerous precedent.”

    https://finance.yahoo.com/news/dangerous-precedent-rattles-chile-renewable-100000061.html

  16. One of the last remaining bright spots for Chinese consumption is rapidly fading, as the nation’s economic malaise takes a toll on demand for even the most accessible of goods.

    In the latest warning to global markets on the health of the Chinese economy, Temu-owner PDD Holdings (PDD) Inc. on Monday surprised investors with an unusually gloomy outlook. The e-commerce firm, which became a market darling with low-priced goods that helped propel sales and profits during China’s economic downturn, also reported revenue that missed estimates. During a post-earnings briefing, CEO Chen Lei mentioned at least eight times that revenue and profits must “inevitably” decline as economic growth slows.

    “We are seeing many new challenges ahead, from changing consumer demand, intensifying competition, and uncertainties in global environment,” Chen, also one of PDD’s earliest employees, told analysts.

    “The big issue is weakness in China consumer,” said Joshua Crabb, head of Asia Pacific equities at Robeco Hong Kong Ltd. “The read-across for competition and a weak consumer will be negative for sure.”

    https://finance.yahoo.com/news/china-crashing-consumer-star-sounds-041258692.html

  17. Canada will restrict a program that allows companies to recruit low-wage foreign labor after the government was criticized for letting it grow too quickly, and for failing to stop the abuse of temporary workers.

    Bloomberg News reported earlier this month that unscrupulous immigration consultants and employers are taking advantage of the temporary foreign worker program to sell jobs to desperate newcomers. A government investigation that was never publicly released found jobs were sold for between C$10,000 ($7,400) and C$180,000, according to a summary viewed by Bloomberg.

    A job linked to the program boosts an individual’s chance of obtaining permanent residency in Canada, creating an incentive to pay for one.

    It also ties the employee to an individual employer, making it hard to switch jobs — tilting the balance of power so much that a United Nations official said the program allows modern forms of slavery to take place.

    https://ca.news.yahoo.com/canada-restrict-access-low-wage-123234544.html

  18. Liberals are having some “robust” conversations about the state of their party and its slump in popularity with voters but those talks cannot happen in public, Immigration Minister Marc Miller said Monday.

    But this year the agenda is almost taking a back seat to talk of survival.

    The poll decline the Liberals began to see last summer has become a crash, with the Conservatives and Leader Pierre Poilievre maintaining a double-digit lead over the Liberals since last fall.

    Trudeau’s personal popularity once lifted his party’s spirits but he has now become a drag on the Liberal brand after nine-years in office.

    https://ca.finance.yahoo.com/news/immigration-housing-headline-cabinet-retreat-080015319.html

    1. The globalist Quisling Liberal Party are traitors, one and all, and need to be dealt with accordingly.

  19. German leader vows tougher knife laws and more deportations after fatal attack in Solingen

    German Chancellor Olaf Scholz vowed to toughen knife laws and step up deportations of rejected asylum-seekers Monday as he visited the scene of the knife attack in which a suspected Islamic extremist from Syria is accused of killing three people.

    Scholz, speaking after he joined regional officials in laying a white rose at a makeshift memorial in the western city of Solingen, said he was “furious and angry” about the attack, in which eight people also were wounded.

    “We will have to do everything so that those who aren’t allowed to stay in Germany are sent back and deported,” he said, adding that “we have massively expanded the possibilities to carry out such deportations.”

    Scholz said there had been a 30% increase in deportations this year already, but “we will look very closely at how we can contribute to raising these figures even further.” He said measures including border checks on Germany’s eastern frontiers have reduced the number of migrants arriving “irregularly,” but there’s room for improvement there too.

    https://www.msn.com/en-gb/news/world/german-leader-vows-tougher-knife-laws-and-more-deportations-after-fatal-attack-in-solingen/ar-AA1prDpI

      1. The problem is the globalists’ implacable hatred for Heritage European populations and Western Civilization and their subversion of “liberal democracy” to advance their agendas. There, fixed it for you.

    2. vowed to toughen knife laws
      What? That will be interesting to follow. And, I am wondering, if someone kills a few people with a Golf club will they toughen golf club laws?

      1. I suppose it will be like the dumb laws in the UK where carrying sharp knife larger than X inches in public is a crime. Like that is stopping the aloha snack bars.

        And to think that there was so much hope when the Berlin Wall fell.

    3. Funny how all these open borders and pro criminal types are now suddenly about law and order, regardless of country. Trudeau is promising to fix all the things he effed up, ditto politicians across Europe. Now it’s controlled borders, limited immigration and deportations. But it’s all lip service, other than some token acts staged for the moment, it won’t happen.

        1. Will they just reject the new arrivals, denying their asylum requests, or will they send home the entrenched bums who already have “refugees” status? From what I have read they are only deporting troublemakers.

          The Swedes need to understand that unless they send every single immigrant home they will soon be a minority in their own country.

  20. Ghana’s vice president backed plans to introduce draconian anti-LGBTQ laws, courting conservative voters in his bid to become the West African nation’s next president.

    Mahamudu Bawumiasaid his assent to a bill passed by lawmakers earlier this year “would be automatic,” provided the Supreme Court finds the draft legislation is constitutional. Ghanaian citizens have challenged the legality of the proposed law that calls for anyone who identifies as LGBTQ to be jailed for as many as three years.

    Addressing the anti-LGBTQ bill at a conference Sunday in the capital, Accra, Bawumia exclaimed a phrase in his native Hausa language that translates as “We won’t agree!” The comment drew cheers from some members of the audience.

    The LGBTQ issue is an outlier issue in Bawumia’s election campaign, which has mainly focused on the economy at a time when Ghana faces slowing economic growth and a cost-of-living crisis spurred by annual inflation that continues to hover at more than 20%.

    https://ca.news.yahoo.com/ghana-vice-president-says-d-213446268.html

  21. Denver resident Frankie, who asked not to use his last name, says his home insurance premium rose to nearly $2,600 this month, from its original $1,600, a 62 percent increase.

    This is un-possible. The Biden-Harris regime’s CPI data says inflation is “only” 2.9%. Who do you trust, official stats or yer lyin’ eyes?

  22. Everything feels more expensive,’ Frankie adds. ‘I recently got a 5 percent raise at my job, but somehow I feel worse off than a few years ago.’”

    One fine day Frankie and millions of other sheeple might make the link between the Fed’s deranged money printing and the loss of their purchasing power & standard of living. I’m not holding my breath, though.

    1. “….Frankie and millions of other sheeple…” “….not holding my breath…”

      Frankie and friends couldn’t puzzle their way out of a paper bag

  23. A Hungarian government minister has warned the EU that the country will send migrants to Brussels if the bloc continues to demand that it accept more asylum seekers.

    “If Brussels wants migrants, they will get them,” Gergely Gulyás, minister for the prime minister’s office told a press conference on Thursday. “We will give everyone a one-way ticket if the EU makes it impossible to stop migration at the external border.”

    The minister made the incendiary remarks in reference to a heavy €200 million fine that the European Court of Justice (ECJ) handed down to Hungary in June for repeatedly ignoring EU asylum rules.

    At the time, Prime Minister Viktor Orbán described the court’s decision as “outrageous and unacceptable”. “It seems that illegal migrants are more important to the Brussels bureaucrats than their own European citizens,” he said.

    https://www.yahoo.com/news/hungarian-minister-offers-buy-migrants-102441034.html

      1. FWIW, the 1956 “uprising”, which didn’t even propose ending Communism in Hungary, it just wanted to peacefully reform it, ended in disaster, with the Red Army mercilessly crushing it.

        For now, Hungary can still leave the EU without the threat of NATO battalions invading. That of course means giving up all sorts of subsidies and investments, which someone else, like say Russia, won’t be able to provide.

  24. Democratic National Brat

    no cap on god

    3 days ago

    Democratic National Convention is so Brat!
    We investigated the 2024 DNC in Chicago, and asked hard questions to politicians, delegates, senators, protestors, and your fav progressive stars.

    Featuring interviews with Rep. Jerry Nadler, AG Letitia James, Chris Cuomo, Sen. Raphael Warnock, Pete Buttigieg, Michael Cohen, JJ Abrams, Kellyanne Conway, Sen. Ed Markey, Harry Sisson, Vermin Supreme, Crackhead Barney, Nick Shirley, Cornel West, and Hasan Piker.

    (timestamps)
    00:00 DNC Floor
    08:15 Outside the DNC
    14:10 Pally Rally

    https://www.youtube.com/watch?v=Itlu7HAjmUo

    20 minutes.

    1. Many are probably hearing rumors of layoffs at the office and have decided to hang onto what they saved up for a down payment.

  26. “If freedom of speech is taken away, then dumb and silent we may be led, like sheep to the slaughter.” — George Washington

  27. Democrats in the past 4 years:

    “We are saving our democracy”
    Arrested their political opponents
    Removed the opposition off the ballot
    Defied multiple Supreme Court rulings
    Jailed dissident protestors for decades
    Colluded with Big Tech to censor posts

    Thomas Jefferson warned what would happen if the “monied interests” hijacked our Constitutional Republic and replaced it with a mobocracy of dependency voters and allowed domestic enemies of the Constitution to subvert us from within.

  28. The crypto pump & dump is separating more fools from their money. It’s going to be comedy gold when the baggies who levered up on debt to “invest” in these digital tulip bulbs belatedly figure out the supply of Greater Fools has dried up, and they’re left holding the bag.

    https://www.cnbc.com/cryptocurrency/

  29. ‘Lubbock, Texas, is ranked as the metro area where buyers have the most power…there were 80% more homes for sale in the Texas city than a year before, properties are sitting longer on the market, which is a good thing for buyers. ‘In response, eager sellers have brought prices down, suggesting that buyers are in a good position to negotiate’

    I did look at some listings out there I get in emails a few months ago. You wouldn’t believe what shacks have been selling for.

    1. Took a looksie on realtor dot com. Saw several foreclosures. Also saw a lot of not so new shanties for under 200K. But the nice ones were pricey, especially considering the locale.

  32. ‘bought his first home in Weaver in Calhoun County for his growing family. But the excitement quickly turned to anguish. He estimates the home will need $70,000 worth of work on top of the $145,000 he paid for it at closing. Gallagher says the inspection company did not honor its guarantee and the state licensing board dismissed his complaint. In the Gallagher’s case, the home was bought by the previous owner for $30,000 then sold months later indicating it was a flip. One that has left Gallagher with a lot of regrets. ‘Blows my mind; truly a helpless feeling’

    Flipper got a big cha-ching! and you got the bag Brandon.

  34. ‘I think at this point, is struggling with insurance and for a company to swoop in like this and do what they’re doing is just rotten,’ said Ewing. And he’s not alone. He claims three of his own neighbors had a similar problem and Action 9 received a handful of other complaints about Slide from homeowners in other central Florida counties. One BBB reviewer wrote, ‘this has caused incredible damage to my escrow account’

    Another scenario of financial pain apparently. I don’t recall reading about this exact thing happening before.

  38. ‘Ontario is experiencing some of its lowest cottage sales in recent memory, according to broker John Fincham who publishes analytics for the province. By April 2024, only 3,400 waterfront properties were sold in Ontario compared to 6,199 the previous year — a decline of more than 40 per cent and the lowest in more than two decades, he reports. In other words? ‘It’s firmly, firmly a buyer’s market,’ the Muskoka Re/Max broker tells CTV News. ‘Buyers are firmly in the driver’s seat’

    That’s what we like to hear John, keep up the good work!

    ‘In addition, the current market can be attributed to stubborn sellers who believe the value of their cottage is the same as it was in the midst of the COVID-19 pandemic, says Ray Ferris, a realtor from the north shore of Lake Erie. He adds that buyers are now waiting longer on the sidelines to see how far prices will go down’

    That’s the spirit buyers, let em twist in the wind!

    ‘In Nova Scotia, fewer people have been looking to purchase ‘recreational and extraneous’ properties…‘now is a great time to buy a cottage in Nova Scotia, especially if you’re willing to be a bit further out from the city or you have a bit of a higher price range…There are a ton of cottages and recreational properties on the market … and you will get a deal’

    https://scottrobinson.ca/cottages-for-sale-in-nova-scotia.html

    https://property.trovit.ca/cottage-nova-scotia-province

    Oceanfront Cottage***NEW PRICE***

    Oceanfront Cottage on the scenic eastern shore of Nova Scotia which also includes a second oceanfront lot. Spacious living room with pull out sofa for your guests (could be divided to make a second bedroom), dining area and kitchen with plenty of counter and cupboard space, full bath, good sized primary bedroom, and plenty of storage. Many updates include – new siding, freshly painted, levelled with new concrete supports. Necum Teuch is a small community located on the scenic Eastern Shore and is known for its rugged coastline, picturesque beaches, and pristine wilderness. You can enjoy a variety of activities such as hiking along coastal trails, birdwatching, kayaking or paddle boarding in the surrounding waters, and exploring nearby beaches. The area is also popular for fishing and clam digging. With its natural beauty and peaceful atmosphere, Necum Teuch is the perfect destination for those looking to immerse themselves in the beauty of Nova Scotia’s Eastern Shore. Furnishings can be included in the purchase price making this a true turn key cottage. Happy to email photos that aren’t so squished.

    https://www.cottagesincanada.com/40966

  39. ‘She’s witnessed first-hand how most families have to revaluate their spending. When she was working as a lash technician, she saw the business dry up…‘I used to do lash extensions as my full-time job and people can’t afford these luxuries in this cost-of-living crisis,’ she said. ‘So much so that I had to go back to other work because I didn’t have enough clients anymore. Going from over 30 clients a week to nearly none’

    Zali is clearly going to be the winnah! in this match-up:

    ‘A young Australian has urged wannabe homeowners to “get their priorities right” if they are serious about getting on the property ladder. Some have given up the dream of buying as property prices soared to new heights across Australia. But Zali Gillings told Yahoo Finance she was proof that cutting out ‘ridiculous’ spending on luxuries could be the answer. She and her fiancé bought a three-bedroom home in Adelaide two years ago after a financial ‘wake-up call,’ but not without significant sacrifice. ‘We honestly lived just off the absolute bare minimum for a good year and that’s what really topped up our savings,’ the now-25-year-old said…Baby Boomers are often criticised for dishing out advice to cut back on spending on avocado on toast or coffee, but that’s exactly what Gillings said people need to do. Going out for dinner? That was gone. A bit of self-care at the salon? Out of the question. Some retail therapy? Not unless it was required for work. Gillings and her fiancé even agreed not to give each other Christmas or birthday presents, and they informed their family not to expect anything from them either. But this isn’t who her message is for. It’s the people who spend frivolously yet still complain they ‘never have any money’

    ‘[Yet] they’ll still go and get their nails done every week, get their hair done, lashes, these types of things,’ she said. ‘For instance, if I wanted my lashes done, I would think ‘Would I rather someone give me a lash set, or would I rather someone gift me $120’ and I would always choose the money. Which tells me…you don’t need those lashes. That’s more money towards the house’

  40. Some Seller’s Were Too Confident (Toronto Real Estate Market Update)

    Team Sessa Real Estate

    26 minutes ago

    In this episode we take a look at the current Toronto Real Estate Market specifically the detached home prices and market trends for week ending Aug 21, 2024. We also discuss the turn of events for the seller’s who have now felt the reality of the market after being there all summer.

    https://www.youtube.com/watch?v=CjLWMhd-0aE

    12:11.

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