There Are Still Lots Of Dreamers Until They Figure It Out When It Doesn’t Sell
A report from the Miami Herald in Florida. “A planned condo project just a few blocks from South Beach caught the attention of Jose Maria Carmona and his wife. Using most of their nest egg, the Argentine couple signed contracts with the Miami Beach project’s developer in 2022 and paid in full for two studio apartments — $351,900 for one and $358,000 for the other. But rather than celebrating their smart purchases, the Carmonas — along with many other similar condo buyers in the Miami Beach project — have been crushed by the downfall of its developer. The Miami Beach property is the next asset on the receiver’s auction block. ‘To be honest, we never thought this would happen here,’ Jose Carmona, 53, an information technology specialist, told the Miami Herald. ‘We put our life savings in this Miami Beach project. The worst part is, we are not getting anything. I can’t believe the judge would allow this to happen. … I don’t think that’s fair.'”
The Islander News. “Condominium owners in Florida are finding out that it’s getting a little tougher to enjoy a slice of paradise. Even on Key Biscayne. Jud Kurlancheek, a former 20-year Village Building, Zoning & Planning Director, has lived in The Sands for the past seven years. The choice is simple: pay the $50,000 total up front or pay the $1,100 (including interest) monthly, and that is on top of the regular condo association fee to maintain common areas. ‘You either pay it all or borrow it all. Either way, you’re going to pay,’ he said. Kurlancheek said he knew the increase was coming because of the state-mandated engineering reports for recertification. ‘No matter how many condo notices are sent out, people are not reading them,’ he said. ‘Our board has probably met 25 times in the last two years. Then, bang! Starting in January, they learn it’s another $50,000 or $1,100 a month. I’d say 90% of the condo (residents) don’t know what’s going on. People ignore emails and letters, and they’re shocked. But you’ve had plenty of time to participate.'”
The Sun Sentinel in Florida. “Increased costs for condo association insurance have already driven up monthly assessments, said Wendell Ensey, president of Century Village in Pembroke Pines. ‘Since 2020 to now, the unit owners in my association have seen fees go up $120 to $150 a month,’ Ensey said. ‘And people who are on fixed incomes — there could be a single lady sitting there drawing $1,200 a month in Social Security and all of a sudden she’s paying $700 a month or $800 a month in maintenance fees. She’s having a hard time eating.’ Ensey said he saw a $32,000 quote to inspect one association jump to $50,000 six months later. ‘That’s price gouging to me,’ he said.”
“Sen. Jason Pizzo, a Democrat from Miami and leading voice on condominium issues, said flatly, ‘There’s not going to be a special session.’ Pizzo criticized the notion that elderly condo owners can’t afford high special assessments. ‘Thirty, sometimes 40 years have passed and we’re seeing the same person when they weren’t 80 but they were 40, joined in and voting to waive reserves and never put any money away for any repairs or replacements, and never asked, and very often maybe served on the board or had a position and wanted all the economies of scale and benefits of multifamily living with zero of the burden,’ he said.”
Sarasota Magazine in Florida. “The real estate market in Sarasota and Manatee counties experienced a summer dip in sales and median prices, according to the latest data from the Realtor Association of Sarasota and Manatee. ‘Sellers are often over-listing, with some who bought five years ago asking for almost double today with investments made in the home,’ says Taylor McFadden of Coldwell Banker. ‘There are still lots of dreamers until they figure it out when it doesn’t sell. Folks who inherited or bought their condo 30 years ago and are on fixed incomes might get hit with a sudden assessment of $10,000 and the fees are driving them out,’ says McFadden. ‘The buyers are looking at these assessments and increasing HOA fees and don’t want to sign up for them. I’ve seen some go up by as much as 100 percent.'”
The Dallas Business Journal. “Homes in DFW are taking longer to sell and are on the market an average of 52 days — 11 days more than the same time last year, according to the Re/Max report. North Texas home prices were down 1.3% year-over-year to a median sale price of $395,000. New listings in DFW were up 16% from a year earlier, with 12,721 homes added to the inventory in August, the report found. ‘Home prices in the Dallas-Fort Worth area have stabilized, which has been good news for buyers,’ said Todd Luong, an agent with Re/Max DFW Associates. ‘In fact, many sellers [have been] reducing their listing prices in this market as inventory levels have soared tremendously compared to previous years.'”
Arizona’s Family. “If you’re looking to buy a home, experts say now may be the time as sales slump and inventory increases in the Valley. New data from ARMLS shows that sales dropped 7% and there was a near-6% jump in homes for sale in the Phoenix-area. Tina Tamboer, a Senior Housing Analyst with the Cromford Report, says there is some good news with data like that, including price cuts and incentives. ‘Sellers that are willing to supplement the buyer’s payments for a year or two and they call that a 2-1 buydown; that can give you an extra 20% off of your first year’s payment,’ said Tamboer. She says sellers are also doing more to stay competitive. ‘Many other sellers are doing repairs, doing the things to bring those not so perfect properties up to par so that they can compete with all of the other listing on the market today,’ she said. Real estate experts say the price of smaller family homes is actually decreasing here, while luxury homes in the Valley are increasing or holding steady, reflecting the stock market.”
KCRA in California. “A condo in San Francisco’s Millennium Tower sold for $400,000 less than its original purchase price. A one-bedroom unit sold for $615,000 last week, but the seller bought the condo back in 2014 for over $1 million. Millennium Tower has made numerous headlines over the years for its structural issues. The value of its units has dropped dramatically. ‘The price that you are seeing for the condos at The Millennium is a reflection of the unique situation that is happening to this building,’ said Steven Huang, the president-elect of the San Francisco Association of Realtors. The cost of repairs was over $100 million. The drop in value, however, might also signal other problems for San Francisco real estate. Huang said the pandemic still affects how buyers look for homes. He said not many are coming to San Francisco like they used to, so buyers are looking elsewhere for a home. ‘More people were able to work from home since the pandemic and that is why the demand for downtown condominium residences has dropped off,’ Huang said. Combine that with structural issues and it makes sense why the condo lost 45% of its value.”
The LAist in California. “Last month, FBI and IRS agents searched the family home of Orange County Supervisor Andrew Do in North Tustin. They also searched a nearby home purchased by his 23-year-old daughter, Rhiannon Do, and the homes of others with close ties to the supervisor and his daughter. The searches came nine months after LAist first reported county officials were asking serious questions about what happened to millions in taxpayer funds directed by Supervisor Do to a little-known nonprofit. LAist uncovered more than $13 million in public funds directed by Supervisor Do to Viet America Society (VAS), most awarded outside of public view and without Do disclosing that his daughter worked as a leader there. Most of that money came from federal COVID relief funds earmarked to help people during the pandemic.”
“Supervisor Do took home about $237,000 in pay and benefits for his role as county supervisor in 2023, according to public data on Transparent California’s website. The FBI and IRS aren’t saying why they searched the properties, citing a court seal on the search warrants. A pair of lawsuits, filed by county officials a few days before the searches, allege Rhiannon Do, and other defendants, ‘brazenly plundered’ public funds to purchase multiple homes in Orange County.”
ABC 7 in California. “An abandoned mansion littered with graffiti, garbage and broken glass is not what you envision when you think of prime real estate in the Hollywood Hills. Neighbors along Multiview and Mulholland drives describe the abandoned mansion as a headache and safety hazard. The home is now covered in graffiti from taggers, and squatters have been coming and going for more than two years. Karin Gideon said when there wasn’t a fence at the home, the home was broken into several times. ‘They cut the fence. There were a lot of very questionable people. Some were crazy, some actually became threatening,’ she said. Eyewitness News also learned a lien has been issued on the home and that the owner has defaulted on property taxes for several years. ‘It’s become a bit larger than it should be, and there doesn’t seem to be much concern for the safety and well-being of the neighbors,’ said neighbor Magnus Fiennes.”
Boston.com in Massachusetts. “Boston’s rental market is experiencing slowing momentum, according to ApartmentAdvisor. In the beginning of September, about 2,200 apartments in Boston were vacant and available. ‘As of the end of August, a much greater number of apartments with 9/1 move-in dates were still on the market, and that’s unusual,’ Lilly Milman reported on the site. ‘In fact, last year the amount of available inventory on our site dropped by about 29% from June 25 to August 25 (the period which we defined as ‘peak renting season’ for this report).’ Rents fell in eight major cities, including Boston, according to Zillow’s rental market report.”
“There may be more apartments available because ‘priced out’ renters are leaving Massachusetts. ‘You can’t really say exactly why people are leaving, but trends do show that people are leaving, especially in the age group of 25 to 44,’ Milman told Boston.com. In the report she noted that ‘nearly every group has more out-migration than in-migration.'”
Bisnow Washington DC. “Ballston’s Two Liberty Center office building has traded hands for $27.6M, well below its previous sale price. Brookfield and Hines sold the nearly half-empty building at 4075 Wilson Blvd. to Rithm Capital, the Washington Business Journal reported. FarmViewVentures and GreenBarn Management LLC are also partners in the deal, but Rithm is the majority investor. The sale hasn’t yet been posted in Arlington property records. The price was less than 30% of the 2019 sale, which was for $91.2M. ‘The price of a NYC townhouse i like to joke,’ FarmViewVentures Founder John Wolf wrote in a LinkedIn post.”
The Globe and Mail in Canada. “4310 Hastings St., No. 414, Burnaby, B.C. Asking price: $588,800 (May 21). Selling price: $588,800 (June 2). Burnaby is known for its oppressive skyscrapers, but the buyer in this case got a bright unit in a solid concrete building in an old part of Burnaby. The 639-square-foot, one-bedroom faces north, with a lot of windows, ensuite laundry, contemporary kitchen with stone countertops and stainless-steel appliances, in-floor heating, laminate floors and a small balcony. Listing agent Ian Watt’s client had bought the unit as a presale and lived in the unit for several years, then moved out when he started a family. The unit had been tenanted but the tenant moved out. They received one offer for the listing price within an hour of showing it, and the seller accepted it. Mr. Watt received another potential offer later that night, but it was too late. ‘When priced right, it sells. The problem is, in Vancouver most listings are overpriced.'”
“‘I think the biggest obstacle in selling right now is buyers are looking for today’s market and sellers are holding on to yesteryear’s market,’ says Mr. Watt. ‘If priced appropriately, it will go. Sellers are always a little bit behind because they won’t listen. According to the real estate board, it’s a balanced market, but I think it’s a buyer’s market. Any buyer going in with a strong offer can pick and choose and bully the seller a little bit. There are so many listings right now, especially for condos.'”
The Manchester Evening News in the UK. “A rogue builder swindled his customers out of nearly £150,000 by accepting deposits but failing to complete any work. His actions led one customer to contemplate suicide and left others in financial distress while he indulged in foreign holidays and golf trips. Paul Atkinson, 45, pocketed the funds sent to him by clients who hired him to construct extensions and orangeries at their homes. However, once the funds were transferred, he became elusive, ignored refund requests, and subtly threatened customers who posted negative reviews. Prosecutor David Elias KC stated that Atkinson initially appeared ‘open, professional, and knowledgeable about what he was going to do’ when meeting his customers and communication would be ‘prompt.’ However, after deposits were transferred, the defendant rarely responded to messages and made excuses for work delays.”
“The work that was completed was of poor quality, and in many instances, had to be removed and corrected at significant cost. When customers demanded refunds, he made excuses and offered to repay in instalments – promises that were never fulfilled. Protecta Design and Build Ltd went into liquidation in 2022, yet Atkinson continued to take deposits without informing his clients of the company’s status. Another couple lamented their squandered inheritance earmarked for a home extension. One partner shared the harrowing toll it took on them: ‘This has left us financially and emotionally drained. I felt upset and stupid for falling for a conman’s tricks and my mental health has been affected.’ Some victims found themselves forced to remortgage their properties to provide Atkinson with deposits, and ultimately had nothing to demonstrate for their investments.”
Sky News in Australia. “Varaich Homes went under on September 18, leaving dozens of customers in a precarious position, with a string of scathing accusations being hurled at the builder. Multiple customers have been left with no or half-built projects, and significantly out of pocket, with the company now in liquidation. The business has been accused by multiple paying customers of pressuring clients to pay large sums of money in advance, even sending aggressive emails demanding payment, without completing the work. Tradesmen who were contracted to work on the builds were also reportedly left with nothing.”
“Another victim, Vijay Bhusal, told news.com.au he signed on with Varaich Homes to build a $836,000 home for his young family and has now lost more than $100,000. ‘We signed contracts in August 2021, filled with excitement and anticipation. However, instead of joy, we have been met with endless delays … and broken promises,’ he told the outlet. ‘The company repeatedly missed deadlines, starting construction six months later than agreed upon and failing to complete our homes even after the promised time frame. Our houses remain unfinished, a constant reminder of our shattered dreams.'”
South China Morning Post. “Hong Kong luxury property market grapples with high interest rates and falling valuations, forcing wealthy owners to sell at big losses. In the rarefied air up on The Peak, the owner of the penthouse in the Opus Hong Kong development – which has been called the city’s most expensive apartment building – unexpectedly put his unit up for sale. Some of the city’s wealthiest residents rub shoulders here. But it is rare that a unit in the 12-floor building, which twists upwards toward the clouds and was designed by the famed architect Frank Gehry – his first residential project in Asia – would come on the market for a second-hand sale. The penthouse belongs to tycoon Chen Changwei, chairman of Hengli Investments, who developed residential and commercial projects in China and managed properties in Hong Kong, London and on the mainland.”
“The 5,444 sq ft unit, which changed hands for HK$509 million (US$65.3 million) in 2015, was offered with another asset that Chen wanted to offload, some ground floor shops at Pearl City Mansion in Causeway Bay. He bought them from New World Development in 2021 for HK$1.1 billion, according to people familiar with the matter. This is illustrative of a broader trend. All across Hong Kong – from The Peak to South Island and elsewhere – high-net-worth individuals have found themselves caught in a tight spot between their ritzy, overleveraged properties and a quickly draining pool of liquidity. This is because their businesses are slowing, borrowing costs are high and their financial strains are becoming more severe.”
“On top of that, creditors are becoming more demanding and their terms are more rigid when it comes to repayments as property values plummet. Banks here are reluctant to grant new mortgages, and this year’s outlook for luxury home prices is on a downswing. As a result, the high-end fire sales are likely to continue. ‘Most distressed asset owners are in an urgency to sell due to liquidity issues,’ said Lucia Leung, director of research and consultancy in Greater China for Knight Frank. The number of distressed luxury residential assets has risen, consultants say, in areas like The Peak, Tai Tam and Southern district, and prices on some of these trophies have fallen by at least 30 per cent from their highs.”
“Just a year ago, Chen’s neighbour at the Opus ran into trouble. Chinese tycoon Chen Hongtian’s fifth-floor unit was sold by receivers in September 2023 for HK$418 million – 39 per cent below market prices – after he defaulted on a HK$500 million mortgage on the property. It was one of three of his assets seized by banks. Owners who are pressured by flagging valuations and onerous interest rates are often forced to slash prices so they can quickly offload their property assets. The chairman of distressed mainland developer Agile Group Holdings sold a property last month in the city’s Kowloon Tong neighbourhood for less than half of what he paid six years ago. This was after the Guangzhou-based developer – strapped for cash – failed in May to pay interest on a US$483 million bond maturing in 2025.”
“In a filing to Hong Kong’s stock exchange, Agile said it ‘will not be able to fulfil all payment obligations under its offshore debts’ due to the liquidity pressure. ‘Luxury properties that have good locations are not immune to valuation adjustments. In fact, they are often at the forefront of enduring the sharpest adjustments,’ said said Francis Ng, managing director at real estate private credit firm Pacific Aegis Capital Management Group.”
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More tales of woe at the Australia link and lots of serious crater in the Hong Kong article.
‘They cut the fence. There were a lot of very questionable people. Some were crazy, some actually became threatening…It’s become a bit larger than it should be, and there doesn’t seem to be much concern for the safety and well-being of the neighbors’
Karin, Magnus it’s still way cheaper than renting. Here’s yer video:
Details emerge about abandoned Hollywood Hills mansion covered in graffiti
ABC7 1 day ago
https://www.youtube.com/watch?v=_jTiOirsYhw
3 minutes.
Few things are more heart-warming than seeing ultra-wealthy Hollywood libtards getting to experience first-hand the societal breakdown and moral decay they’ve been pushing on the rest of the country for decades.
‘It’s become a bit larger than it should be, and there doesn’t seem to be much concern for the safety and well-being of the neighbors’
You need to shampoo yer hair more often Magnus. You never know when you’ll have a camera stuck in yer face when you live next to an expensive eyesore.
This is not rundown graffiti crime, its Hollywood neighborhood vibrancy!
‘I think the biggest obstacle in selling right now is buyers are looking for today’s market and sellers are holding on to yesteryear’s market…If priced appropriately, it will go. Sellers are always a little bit behind because they won’t listen. According to the real estate board, it’s a balanced market, but I think it’s a buyer’s market’
It is a balanced market Ian cuz the UHS relist with every a$$ pounding price cut and it lowers the days on market. Can’t argue with statistics.
‘Any buyer going in with a strong offer can pick and choose and bully the seller a little bit’
That’s the spirit!
“It is a balanced market Ian cuz the UHS relist with every a$$ pounding price cut and it lowers the days on market. Can’t argue with statistics.”
It would take effort, but a good data scientist could figure out a way to shed light on this time honored scam.
You will own nothing.
And this is not subject to negotiation.
Nothing.
Reading the first half of this thread, conclude that Florida is, in fact, finished.
Using most of their nest egg, the Argentine couple signed contracts with the Miami Beach project’s developer in 2022…
Large numbers of foreigners buying in is always the sign of a bubble peak.
Sorry for my typos, my tablet stinks, it doubles letters.
Not houses, but yes, condos. There anre three devils ant play, insurance, taxes, annd HOAs. One you have to ancce – taxes.
And condos are finished everywhere in the US, thanks to a lot, but also the middleman that insurance is. Insurance weighs risk, charges, and fights over wind/flood pointing fingers when something happens.
If your house is paid off, homesteaded in Fl and you can afford the taxes (which also rise, but everywhere) it’s a different story. You aren’t required to have insurance if it’s paid off.
It’s all about the monthly nut. And heat costs more than a/c, I say this living in CT but buying a small home, not condo, in Florida with no HOA. I still have to pay my taxes, but can control the other two.
“And heat costs more than a/c…”
The variable at play is the difference in temperature, e.g., you prefer 75-degrees F, and outside it’s 87-degrees F in summer, so 12-degrees F. In winter, it might be 28-degrees F, so 47-degrees differential, which requires more energy.
CNBC — More men in their prime working years are neither working nor looking for jobs (9/21/2024):
“According to the U.S. Bureau of Labor Statistics, the unemployment rate for prime-age working men was 3.4% in August 2024. This number primarily includes those who are unemployed and looking for a job. But about 10.5% of men in their prime working years, or roughly 6.8 million men nationwide, are neither working nor looking for employment, compared with just 2.5% in 1954.”
6.8 million is that a lot?
“The long-term decline in labor force participation by so-called prime-age men is a tremendous worry for our society, our economy, and probably our political system,” said Nicholas Eberstadt, a political economist at the American Enterprise Institute.
A study by the Pew Research Center found that men who are not college-educated leave the workforce at higher rates than men who are. At the same time, fewer younger men have been enrolling in college over the past decade.
“They used to graduate with a high school education and have good stable jobs,” according to Carol Graham, senior fellow of economic studies at the Brookings Institution. “Since then, due to technology-driven growth and a little bit due to Chinese competition, you’ve had a lot of manufacturing firms and the places where they were located that were one-horse towns become ghost lands.”
https://www.cnbc.com/2024/09/21/why-more-men-are-dropping-out-of-the-workforce.html
Tremendous worry for our political system, did you say?
Every globalist trade deal enacted in the past several decades was heralded as a “bipartisan” achievement.
The structure of our present economy was created by our political system, and now you say you’re worried?
“But about 10.5% of men in their prime working years, or roughly 6.8 million men nationwide, are neither working nor looking for employment, compared with just 2.5% in 1954.”
Due to a long running statistical scam, our fellow unemployed citizens who live under the bridge don’t count as unemployed, because they are too discouraged to look for work.
because they are too discouraged to look for work.
Which is perhaps one reason they have turned to opioids
The uniparty blames China and Mexico for the fentanyl “epidemic,” but they never address their own role in contributing to “deaths of despair” among marginalized, economically disenfranchised white males who have no future on the globalists’ incorporated neoliberal plantation.
The fact that nothing is being done to stop this is, in my mind, proof that they consider these people as disposable and are fine with them OD’ing. As Ebenezer Scrooge said: “If they would rather die they had better do it and decrease the surplus population”
It’s a vicious circle, as opioid use tends to erode worker fitness.
But somebody makes a LOT of money off these drug users.
My guess is that they turn to pot first and work up from there.
What we need is a 1970s gender-role society, 1980’s music and movies, 1990s internet, and 2020s medical care.
My entire adult life has been a sequence of recessions: 2001, 2008, 2020, and the present unrecognized recession that all economists are in denial of.
Every “recovery” following these recessions has benefited only the top 0.1% and the top 1.0% who serve as the administrative class to further enrich the 0.1%.
This is the economy created by our political system.
Every “recovery” following these recessions has benefited only the top 0.1% and the top 1.0% who serve as the administrative class to further enrich the 0.1%.
Yup. Unless your title is “Director” or “VP” you are being crushed, even if you got a raise this year. There’s a reason cars and especially trux are piling up at stealerships: few can afford one.
Yup. Unless your title is “Director” or “VP” you are being crushed, even if you got a raise this year.
Yes but have you tried brewing your own coffee at home? /sarc
“Most of that money came from federal COVID relief funds earmarked to help people during the pandemic.”
Don’t even get me started on this. Not enough has been covered on how most of the COVID relief was fraudulently obtained.
The levels and spread of grift are at third world levels. I can’t wait to hear that his 23 year old daughter was paid a 7 figure salary for “running” the “Viet America Society”.
“Not enough has been covered”
And if it ever is, it will be BURIED in the back pages of the front sections of the New York Times and Washington Post, treated with a unanimous yawn, nobody goes to jail, and will be quickly forgotten.
See also: the Panama Papers or any other past mass fraud of that scale.
‘Thirty, sometimes 40 years have passed and we’re seeing the same person when they weren’t 80 but they were 40, joined in and voting to waive reserves and never put any money away for any repairs or replacements, and never asked, and very often maybe served on the board or had a position and wanted all the economies of scale and benefits of multifamily living with zero of the burden,’ he said.”
Feckless Boomers are now sitting down to a banquet of consequences for shirking responsibility for decades. I am Jack’s complete absence of empathy.
How callous of you, FS. Don’t you know that today’s 80 yo’s are all WWII heroes? And that they built the interstate highways? And paid for their own college educations? And now you expect them to pay for condo maintenance as well?
Let’s face it, no one wants to pay into a fund that might not benefit them during their time of ownership. Because once you pay into it, it’s not your money anymore, unlike say saving for repairs on a SFH. Anyway, this is why buying a condo is always a bad idea. I remember decades ago I was told by people wiser than I was to never buy one.
How does a business with paying customers go out of business? And it happens a lot in Oz. Do the builders take the deposit money and squander it on hookers and blow, bewb jobs for the Mrs., expensive vacations and fast cars?
Millennium Tower has made numerous headlines over the years for its structural issues. The value of its units has dropped dramatically.
But…but…muh generational wealth!
All across Hong Kong – from The Peak to South Island and elsewhere – high-net-worth individuals have found themselves caught in a tight spot between their ritzy, overleveraged properties and a quickly draining pool of liquidity.
Die, speculator scum.
If they are “caught in a tight spot” they were not high net-worth individuals, they were posers.
Expect more pearl-clutching from the globalist scum media as German voters seem likely to pick nationalists over globalist Quisling Establishment parties who are flooding the country with millions of unassimilable 3rd World criminals & benefits spongers.
https://www.yahoo.com/news/germanys-far-afd-track-another-000948173.html
A reader sent these in:
Weekend check in with the gig economy. Some better balance being felt.
https://x.com/SquirtLagurski/status/1837589754000425242
Government *job* growth finally cooling.
https://x.com/DonMiami3/status/1837586605642506665
They are now robbing mailmen in California.
https://x.com/DougAMacgregor/status/1837347954270564679
Some days I like to ponder the deeper questions, “why are we running a World War 2 level deficit if the economy is strong?”
https://x.com/DonMiami3/status/1837177963462177161
The number of people working part-time who would rather be working full-time is increasing. Notice what usually happens next when this series starts rising?
https://x.com/PeterBerezinBCA/status/1837520800833847640
The No Recession bros are now scrambling to write 300 tweets threads to explain why a recession is atchually good for you
https://x.com/INArteCarloDoss/status/1837231082665824550
As I always say… pay attention to $FDX
Down -14%🔻
Largest drop in over 2 years
Alan Greenspan used to gauge the state of the economy on FedEx.
https://x.com/Geiger_Capital/status/1837166883637973445
The Fed vs “short twos and spoos” for 2 straight years.
https://x.com/stevehouf/status/1836880085871219043
Hawaiian Airlines began notifying 1,400 non-union employees Friday about their new futures which may involve a 90 day period of pay before termination
https://x.com/MacroEdgeRes/status/1837632047084621909
Unrealized losses on investment securities for US banks reached $512.9 billion in Q2 2024.
This is 7 TIMES higher than at the peak of the 2008 Financial Crisis.
Q2 2024 also marked the 11th consecutive quarter of unrealized losses as interest rates continued to pressure the economy.
Bank of America, the second-largest lender in the US, now accounts for $110.8 billion of held-to-maturity securities with unrealized losses, or 20% of the total.
Meanwhile, the number of banks on the FDIC Problem Bank List increased to 66 in Q1 2024, or 1.5% of the aggregate.
https://x.com/KobeissiLetter/status/1837587663907705015
*US ADVISES ITS CITIZENS IN LEBANON TO DEPART: STATE DEPARTMENT
https://x.com/zerohedge/status/1837624574088818878
STATE DEPARTMENT URGES US CITIZENS TO LEAVE SPRINGFIELD, OHIO.
https://x.com/RudyHavenstein/status/1837640723786879336
Exclusive timelapse of Dream Las Vegas hotel and casino construction.
https://x.com/VitalVegas/status/1837617471416947151
Job growth is at the lowest level since the 2020 Pandemic
https://x.com/GameofTrades_/status/1837534898468671577
Over 50 juveniles ride their bikes and storm into a 7-Eleven, ransacking and trashing the store
Watch wild video as over 50 juveniles ride their bikes into a 7-Eleven parking lot in Beverly Hills, California. With their faces covered by hoods and masks, they storm the store, ransacking it and stealing numerous items. Some are seen laughing as they run back to their bikes, their hands and pockets filled with snacks and stolen goods. The group caused significant damage before fleeing the scene on their bikes, all before officers could arrive. The exact amount of merchandise stolen and the extent of the damage remain unclear.
https://x.com/rawsalerts/status/1837363341360046429
Airbnbs in Mission Beach, San Diego.
31% of housing supply here is entire-home, unhosted short-term rentals, almost all are investment properties.
During a supposed “housing shortage”.
https://x.com/NotoriousAirbnb/status/1837589654847258888
Nearly 300 apartment buildings in San Diego have been converted from residential to short-term rental hotels–apartment hotels.
Buildings where tenants used to live.
https://x.com/NotoriousAirbnb/status/1837641136305066405
Francesca Petroski (of Freedom Vacation Rentals), has 9 Airbnb listings in San Diego.
Owns 5 properties.
1 used to be units rented to UCSD faculty. She had converted it to Airbnb.
https://x.com/NotoriousAirbnb/status/1837572483597455568
Another Bitcoin miner nuking an amateur hotel operator
https://x.com/GayBearRes/status/1836918792510689554
Folly Beach, SC voted to cap STR last year and property values are down 30% YOY
https://x.com/LiottDye/status/1785791281613988083
Real-estate inventory in the Greater Toronto Area reaches 25,800 units … breaking above multi-decade inventory records. This is 9x more inventory than the peak of housing bubble in Feb 2022.
https://x.com/Tablesalt13/status/1837504177989443885
NEW POLLING SHOWS JUSTIN TRUDEAU’S LIBERAL PARTY COULD SINK TO 4th PLACE in the next election. Down to 32 seats, a loss of 120 seats.
The worst defeat in the history of the Liberal party.
https://x.com/Tablesalt13/status/1837490565329428869
Checking in with the gig economy. Very busy $12 an hour sounds fantastic.
https://x.com/SquirtLagurski/status/1837269393144680601
I’ve said it before, auto financing has gotten completely toxic. Negative equity rollovers are up ~40%, while underwater balance has risen from $5K average in 2019 to $6.5K. Anyone who purchased a new car between 2022 and now with a 8% APR AND $700 a month (likely higher) is likely regretting it IMO. Between depreciation accelerating as prices have fallen and tight budgets it’s almost unreasonable to buy one as an average household.
https://x.com/SquirtLagurski/status/1836934854241570963
“why are we running a World War 2 level deficit if the economy is strong?”
Paul Krugman could not be reached for comment.
We are funding or fighting several wars and have been for years.
“We are funding”
Exploding pagers, a dozen targets dead, and 2,800 wounded.
This is what “we” are funding.
United States taxpayers are funding genocide.
LOL!
funding genocide
Not just overseas.
“Exploding pagers, a dozen targets dead, and 2,800 wounded.”
Right or wrong this was a brilliant sanction.
They are now robbing mailmen in California.
Chances are it was all junk mail and bills. The post office has its own police and they take a very dim view of postal theft. They were probably able to get a license plate number off of that dash cam.
And Clownifornia is a cesspool.
“Unrealized losses on investment securities for US banks reached $512.9 billion in Q2 2024.
This is 7 TIMES higher than at the peak of the 2008 Financial Crisis.”
Can banks HODL their unrealized losses indefinitely without ever realizing them?
At what point does the rubber meet the road?
“At what point does the rubber meet the road?”
Only, and only when, the assets of the 0.1% Parasite Class are threatened, then it becomes the full responsibility of the taxpayers.
You know how this game works.
The globalist scum media shows a remarkable lack of curiosity or interest when it comes to updating the public on the Fed’s massive unrealized (so far) losses from its radical Keynesian monetary malpractice.
https://www.marketwatch.com/story/feds-1-trillion-pile-of-paper-losses-are-turning-into-actual-losses-with-more-in-sight-acf7ae79
“Over 50 juveniles ride their bikes and storm into a 7-Eleven, ransacking and trashing the store”
This is what happens living in a Low Trust Society.
This is what “progessive, compassionate, etc” gets you.
This is what happens when fathers are absent from the home, and not needed in the home, because they have been replaced by Big Government.
Beverly Hills is a bastion of high-net-worth libtards and Democrat Party donors and patrons. No cohort is more worthy of having vibrant cultural enrichment visited upon their upscale enclaves and persons.
California will make it illegal for social media platforms to knowingly provide addictive feeds to children without parental consent beginning in 2027 under a new law Democratic Gov. Gavin Newsom signed Friday.
California follows New York state, which passed a law earlier this year allowing parents to block their kids from getting social media posts suggested by a platform’s algorithm. Utah has passed laws in recent years aimed at limiting children’s access to social media, but they have faced challenges in court.
The California law will take effect in a state home to some of the largest technology companies in the world. Similar proposals have failed to pass in recent years, but Newsom signed a first-in-the-nation law in 2022 barring online platforms from using users’ personal information in ways that could harm children. It is part of a growing push in states across the country to try to address the impacts of social media on the well-being of children.
“Every parent knows the harm social media addiction can inflict on their children — isolation from human contact, stress and anxiety, and endless hours wasted late into the night,” Newsom said in a statement. “With this bill, California is helping protect children and teenagers from purposely designed features that feed these destructive habits.”
The law bans platforms from sending notifications without permission from parents to minors between 12 a.m. and 6 a.m., and between 8 a.m. and 3 p.m. on weekdays from September through May, when children are typically in school. The legislation also makes platforms set children’s accounts to private by default.
The law defines an “addictive feed” as a website or app “in which multiple pieces of media generated or shared by users are, either concurrently or sequentially, recommended, selected, or prioritized for display to a user based, in whole or in part, on information provided by the user, or otherwise associated with the user or the user’s device,” with some exceptions.
https://www.theglobeandmail.com/business/article-california-governor-signs-law-to-protect-children-from-social-media/
The Democrat-Bolsheviks drop the mask a little more each day when it comes to their intent to nullify the 1st Amendment and ensure the globalist scum media regains its former monopoly on Narrative-compliant news & information.
https://x.com/kylenabecker/status/1837927170368590296
For a week, New York will be center of money-focused fight to slow climate change
The effort to save the pale blue dot called Earth is all about the green — that is, the money to finance a transition to renewable energy sources like wind and solar.
The annual Climate Week NYC and United Nations General Assembly combination is putting special emphasis on how to generate trillions of dollars to help poorer countries move away from gas, oil and coal that emit greenhouse gases and heat the planet. They also need financial aid to deal with the damage the warming is already causing.
“A lot of the failure or success of (the landmark 2015 Paris climate agreement) is going to be determined in the next, eight or nine months as countries put forward their next round of″ proposed emission reduction goals, said longtime climate negotiations analyst Alden Meyer of the European think tank E3G. ”If these don’t step up and meet the mark, it’s really our last chance.”
“It’s definitely about the greens,” said World Resources Institute President Ani Dasgupta. “”It is about greening the world and not getting the green to green the world.”
https://www.msn.com/en-us/news/other/for-a-week-new-york-will-be-center-of-money-focused-fight-to-slow-climate-change/ar-AA1qXu3L
It’s okay to kill communists.
You don’t have to ask anyone’s permission.
If you find yourself with the opportunity and means to kill communists, proceed accordingly.
Security firm linked to Adams honcho Phil Banks under investigation by feds, DOI: sources
Federal and NYC investigators are scrutinizing a security firm previously owned by Mayor Eric Adams’ top public safety officer amid a jaw-dropping escalation of probes swirling around City Hall, sources told The Post Saturday.
Both the U.S. Attorney’s Office and the city’s Department of Investigation are probing City Safe Partners, which was once owned by Deputy Mayor for Public Safety Phil Banks.
The company scored a whopping $154 million contract in January to provide “emergency fire watch services” for the New York City Housing Authority, The New York Times reported.
Sheena Wright, Adams’ first deputy mayor and the fiancée of Banks’ brother David, the schools chancellor, sits on NYCHA’s board and voted to approve the emergency contract.
The City Safe deal is just one of numerous government contracts under review as part of an ongoing probe into the Adams administration that involves at least four separate federal inquiries, law enforcement sources told The Post.
Wright’s role in greenlighting the NYCHA deal is being reviewing for alleged improprieties, they added.
FBI agents on Sept. 4 raided the homes of Phil Banks and Wright.
The feds are eyeing whether Phil Banks steered city contracts toward companies represented by a consulting firm run by his another Banks sibling, Terence, which records show had inked millions of dollars’ worth of public deals, sources have said.
https://www.msn.com/en-us/news/other/security-firm-linked-to-adams-honcho-phil-banks-under-investigation-by-feds-doi-sources/ar-AA1qYbfw
It didn’t take long for the leaders of the two contending parties in British Columbia’s election to take a few personal jabs.
Lt.-Gov. Janet Austin issued the writ Saturday for the 43rd provincial general election, which will take place on Oct. 19. A fixed election date meant leaders have been unofficially campaigning for weeks, but both the pace of events and the rhetoric heated up quickly when the race truly got underway.
During a stop in Langley as part of a daylong blitz of Lower Mainland communities, New Democrat Leader David Eby took a shot at B.C. Conservative Leader John Rustad’s campaign kick-off event by saying it was “sparsely attended,” with a few crows nearby.
Rustad is proposing to make deep health-care cuts and will drop government housing affordability measures, returning the homes issue to property speculators, he said.
“We’re going to build the housing people need,” Eby said, adding Rustad said Saturday government should not have a role in housing.
Rustad said he chose CRAB park on Vancouver’s waterfront for his campaign opening because it showcased the industrial activity happening at the city port, as well as issues of homelessness and toxic drugs.
The park has also been a site of friction. Several homeless people mounted a successful court challenge to stay in an encampment set up on the property, but city crews moved in early this year, saying the site had become dangerous and hazardous.
Just a few tents remained in the background behind Rustad’s podium on Saturday.
https://www.msn.com/en-ca/news/canada/bc-election-campaign-officially-starts-eby-campaign-bus-on-road/ar-AA1qWI5M
How do bums pay for lawyers?
How do bums pay for lawyers?
The Great Reset requires a societal breakdown. The termites in the foundations are sponsored by globalist oligarch sociopaths who intend to own it all once the central bankers’ house of cards comes crashing down.
A $2.14-billion federal loan for an Ottawa-based satellite operator has Canadian politicians arguing about whether American billionaire Elon Musk poses a national security risk.
The fight involves internet connectivity in remote regions as Canada tries to live up to its promise to connect every Canadian household to high-speed internet by 2030.
Telesat CEO Dan Goldberg said “there appear to be some misunderstandings” about the nature of his company’s deal with the government.
A week ago, the Liberal government announced the loan to Telesat, which is launching a constellation of low Earth orbit satellites that will be able to connect the most remote areas of the country to broadband internet.
Conservative MP Michael Barrett objected to the price tag, asking Musk in a social media post how much it would cost to provide his Starlink to every Canadian household that does not have high-speed access.
“Less than half that amount,” Musk responded, prompting Barrett to conclude: “That sounds like a common-sense solution for Canada to me.”
In an interview, Goldberg rejected the comparison because his company received a loan, not a grant. Telesat will pay the government nine per cent interest. The Quebec government is also loaning $400 million. In exchange, Telesat will give up around a 12 per cent equity stake in the company to the two governments.
“No one asked Elon, ‘Do you want a $2-billion loan from the government of Canada at a nine per cent interest rate and give up 10 per cent of Starlink?'” he said. “I think there would have been a very different response.”
He noted that a portion of the loan will actually end up going to Musk’s SpaceX because Telesat uses the company to launch satellites.
https://www.msn.com/en-ca/money/topstories/ottawas-2b-loan-for-satellites-has-tories-calling-for-elon-musk-to-step-in/ar-AA1qWCE4
He noted that a portion of the loan will actually end up going to Musk’s SpaceX because Telesat uses the company to launch satellites.
ULA had 3 launches last year, while Arianespace had two. Seems like they have no other choice but to go with SpaceX.
I guess it pays to sell picks and shovels to miners.
Who do you think made the most money during the Gold Rush?
“A $2.14-billion federal loan…”
Gotta include some skim in there too.
Alberta’s population has ballooned over the past four years with hundreds of thousands of newcomers, making it the fastest-growing province in Canada, in large part because of non-permanent residents.
And while Alberta Premier Danielle Smith points at lax federal immigration rules as the reason growth has been unsustainable, real policy decisions are being made based on the fast-rising numbers.
Housing affordability and a lower cost of living have been the main drivers for people globally and from within the country to flock to the Prairie province, in addition to job opportunities, respected colleges and universities and picturesque natural landscapes. As early as 2025, the population could surpass five million people.
But Alberta, like other provinces, has been slow to deal with the pressures of unprecedented growth: The health care system is in crisis. There aren’t enough schools and affordable housing is growing scarce. Ms. Smith has said it is a “severe challenge” to keep up.
Ms. Smith, earlier this week, blamed the federal Liberals’ “unrestrained” immigration policies for undue pressures on Alberta’s social services. She then announced more than $8.6-billion in capital spending to build new schools, both public and private, over seven years to address overcrowding.
Immigration is a political flashpoint for the Premier who faces a leadership review in November. Ms. Smith has previously said she wants to double the population of Alberta by 2050 to drive the economy and, in March, asked Ottawa to increase the province’s immigration allotment.
She appeared to change her tune this month by stating that “asylum claimants” are no longer welcome in Alberta, adding that the province is supporting a disproportionate share of Ukrainians who fled to Canada to escape the war with Russia. “We simply cannot afford it,” said Ms. Smith.
https://www.theglobeandmail.com/canada/alberta/article-alberta-sees-pressures-of-unprecedented-growth-as-the-province-has/
asked Ottawa to increase the province’s immigration allotment.
Now that is just pure, high concentration stupidity. Double the province’s population in 25 years? I’m sure the immigrants are all doctors and astronauts, and none of them will be on the dole.
Justin Trudeau is trying to convince Canadians the economy is great, and they’ve never had it so good. Unfortunately for Trudeau, no matter how many studies from world bodies he points to, Canadians can see from the reality of their daily lives that things are much different from how the PM paints them.
“Last year, we were third in the world after the U.S. and Brazil, which makes us number one for foreign investment in the G20 per capita,” Trudeau said Wednesday.
“Inflation is in the target range for seven months in a row. Interest rates are down three times in a row and the IMF says that we will have the strongest economic growth in the G7,” Finance Minister Chrystia Freeland said.
“We have the strongest economy in the G7, foreign direct investment per capita is tops in the world,” added Immigration Minister Marc Miller.
While the Trudeau Liberals point to the G7 or the IMF or the OECD, Canadians look at the cost of food, the cost of housing, a rising unemployment rate and reduced purchasing power.
I’m sure if the Trudeau government knows this, but Canadians can’t eat a report from the IMF.
When they do go to eat, Canadians are still getting sticker shock over the price of food after three years of bad inflation. True, inflation has cooled down to 2%, but that doesn’t mean prices are falling – it means prices are only rising by 2% instead of the peak we saw a while back of 8.1%.
And of course, food inflation was higher than the national average for much of the last three years.
Earlier this year Stats Canada noted that between “June 2021 to June 2024, prices for food purchased from stores increased 21.9%.” Those prices have not gone back down to their previous levels and that’s what people notice each and every week when they go to the store.
Have you tried eating out lately?
Prices at restaurants are through the roof because restaurant owners not only had to pay increased costs for food, they’ve also had to pay for increased labour costs as wages have risen. And while those wage increases have been welcomed by workers, the purchasing power of Canadians has shrunk due to a weak dollar and a shrinking GDP per capita.
Unemployment, meanwhile, has gone from 5% just over two years ago to 6.6% in the latest jobs report.
Food costs up, mortgage and rent costs up, unemployment up, GDP per capita down – these are not the signs of a healthy economy. Telling Canadians things are just great when they can see clearly that’s not the case isn’t a winning political strategy.
Of course, if the Trudeau Liberals had a winning political strategy, they wouldn’t be heading for disaster in the next federal election.
https://torontosun.com/opinion/columnists/trudeau-says-economy-is-great-canadians-can-see-truth
British Columbia’s election campaign kicked off on Saturday with both of the main party leaders trading shots over key voter issues of health care, affordability and public safety.
New Democrat Leader David Eby spent the day touring key ridings that delivered his party’s majority in 2020, and warning supporters that his rival, Conservative leader John Rustad, would cut health care spending, make life more costly, and erase progress on the construction of affordable housing.
Mr. Rustad made his first appearance at Vancouver’s Crab Park, which has been the location of a long-running homeless encampment that he referred to as a symbol of decline in B.C., after seven years of NDP government.
“B.C. is at a crossroads,” he said. “The question is, are we going to fight for our future, or continue to manage decline.”
He painted a bleak picture of the state of the province under the NDP, saying almost half the population is struggling to meet rent and pay for groceries, while the health care system is broken.
“What we’ve seen from David Eby, quite frankly, is weak leadership,” he said. “He’s not been able to fix many of the problems we have in this province.” He listed off the deadly opioid crisis, access to health care and the construction of new housing “where he seems to think it’s government’s job.”
The governing NDP enjoyed a comfortable, double-digit lead in public opinion polls until the spring, when their chief rivals, the BC United party, started to hemorrhage support to the provincial Conservatives under Mr. Rustad.
That shift prompted the abrupt collapse of BC United in late August, leaving just two main parties in a statistical dead heat in public polls, with the Greens trailing far behind.
https://www.theglobeandmail.com/canada/british-columbia/article-british-columbias-election-campaign-kicks-off-with-ndp-conservatives/
New Brunswick’s Progressive Conservative leader disrespected the province’s residents by presenting the death of a Liberal supporter as funny, the party said as it called for Blaine Higgs to apologize.
Higgs drew the party’s ire during remarks made at his Thursday campaign kickoff event in Quispamsis, N.B., held hours after he dissolved the legislature and officially triggered the campaign leading up to the Oct. 21 provincial election.
His speech to party faithful included a second-hand anecdote of a conversation that purportedly took place in 2014 between a party volunteer canvassing for votes and a newly minted supporter. At the time, Higgs was seeking re-election as the legislature member for the Quispamsis riding, which he has represented since 2010.
The conversation, the story went, began when the canvasser was leaving the home of a woman who had just voiced her intention to vote for Higgs.
“(The volunteer) said: ‘Thank you very much. That’s great.’ Then she started walking next door, and the lady said: ‘Oh, you don’t need to go there. She passed away a few weeks ago,'” Higgs said in his retelling of the story. “This campaigner — you know, very passionate individual — said: ‘I’m so sorry. Was she sick long? Or what happened? And the lady just said, ‘Oh, don’t feel too bad. She was a Liberal.'”
“I know that’s not an appropriate joke, but it was funny and it is true,” Higgs concluded.
https://www.orilliamatters.com/national-business/new-brunswick-liberals-ask-higgs-to-apologize-for-joke-about-dead-supporter-9555624
An exit poll released after voting ended in a state election in Brandenburg on Sunday showed the Social Democrats with a slight edge over a growing far-right party. The voting took place three weeks after the far-right party made gains in two other states in eastern Germany.
A loss by the Social Democrats in Brandenburg would be seen as a bad omen for Scholz, a year before a federal election that is due to be held on Sept. 28, 2025. Scholz lives in Potsdam, the capital of Brandenburg, and German political observers believe the chancellor’s political future will be shaped by the results of Sunday’s vote.
The fate of the Brandenburg governor, Dietmar Woidke, was also hanging in the balance. He made it his goal for his Social Democrats to beat Alternative for Germany, and vowed to resign should the far right win.
https://www.myhighplains.com/news/top-stories/ap-top-headlines/ap-german-chancellors-social-democrats-seek-to-hold-off-far-right-in-brandenburg-state-election/
The ap edited this article since I found it this morning. The previous version read:
The fate of the Brandenburg governor, Dietmar Woidke, is also hanging in the balance. He made it his goal for his Social Democrats to beat Alternative for Germany, or AfD, and vowed to resign should the AfD win.
“If I lose against the AfD, I am gone,” Woidke said.
https://www.msn.com/en-us/news/world/exit-poll-gives-scholzs-social-democrats-a-slight-lead-over-far-right-in-german-state-vote/ar-AA1qZ5qC
a growing far-right party
All those “far right” parties are socialists who just want to stop mass immigration.
Europe is a weird place, where the aristocracy are Marxists, bishops are agnostics and Africans are Europeans.
WINNSBORO, S.C. — Winnsboro has enacted a six-month moratorium on housing and commercial developments within city limits, pausing any new projects.
Town officials announced the decision following public concern about a proposed development along Gumsprings Road and Highway 34, where Haven Homes planned to build more than 1,000 homes and some commercial space.
“There have been a number of calls from the public to make sure that we approach this from a logical, thoughtful approach,” said Winnsboro Town Manager Chris Clauson.
Officials said the moratorium will allow Winnsboro to reassess land development regulations, the zoning ordinance, and the comprehensive plan.
“It’s for the entire town, so any property within town limits,” Clauson said. “It’s only a moratorium on major subdivisions and multi-family developments.”
https://www.wltx.com/article/money/business/small-business/winnsboro-halts-housing-projects-as-town-rethinks-growth-plan/101-2935062b-7eb9-49dd-9d92-8fe72d7f1b46
Skyrocketing home inventory and a scarcity of buyers in Ontario have led many homeowners to offload their properties at alarming losses, a trend that only seems to grow more severe amid what the Canadian Real Estate Association calls a “holding pattern.”
Some sellers have been able to circle indefinitely in this figurative holding pattern, but others are running out of fuel to sustain their investments and flipping their properties at six-figure losses.
These below-asking sales have become so severe that, in one recent case, a home in the province was sold at an unheard-of loss of $900K — a deficit greater than the value of many homes in the region.
And now, two more homes have been added to this growing list of properties sold at a significant loss, both selling in the vicinity of $350K below the asking price.
A four-bedroom, four-bathroom subdivision house at 60 McCandless Crt. in Milton recently sold for $1.3 million, a $352K plunge from the $1.652 million price it was purchased for just two years earlier in September 2022.
Making matters much worse, the homeowner sunk $200K in renovation costs into the house, for a combined loss of $522K.
Another home recently sold at a massive loss was 97 Wanita Road, a detached house in Mississauga’s Port Credit area. The small house was sold back in November 2021 for $2 million and was later leased out as a rental the following year for $3,100 per month.
Despite the apparent value of the lot when first purchased, the home was placed back on the market this past May at just under $1.8 million, and its owners were already willing to eat a $200K loss to offload the house at the time of listing.
Ultimately, they would have been lucky to get that figure, as the home would finally sell for $1.65 million on September 15, for a staggering loss of $350K within three years of purchase.
https://www.blogto.com/real-estate-toronto/2024/09/two-more-ontario-houses-sell-losses-350k/
Making matters much worse, the homeowner sunk $200K in renovation costs into the house, for a combined loss of $522K.
It would take a heart of stone to read about these FBs and flopped speculators getting their heads handed to them, and not laugh.
All these posts on this thread about elections … did you know that the 2020 election was stolen?
The 2020 election was stolen.
There are rumblings in Mexico, suppressed by t heir media, that their elections this year were rigged. The rigging allegedly happened during the final count, which was electronic, of course. So even though Mexico requires special voter IDs, all voting is in person and inks your thumb after you vote, MORENA still managed to steal the vote.
Meanwhile, all semblance of law and order is gone. The Mexico City -Queretaro highway, perhaps Mexico’s busiest motorway, is utterly unsafe and semis are routinely highjacked. AMLO’s administration has been powerless to stop the hijackings.
The 2020 election was stolen.
As if the travesty of the blatant electoral fraud that installed a corrupt senile pedo as head of state wasn’t bad enough, now we have the spectacle of his skank wife – who no one voted for – presiding over Biden-Harris regime cabinet meetings in Our Democracy. Please let this be Peak #ClownWorld.
I must be the only who’s in favor of having the wife run the country for the next 3 months. The last thing I want is an October surprise where Joe resigns and gives Special K a bump. If that means 3 months of Jill I’ll take it.
gives Special K a bump
Nine US president have not won re-election, ten if you include Trump and the stolen 2020 election. The “bump” is BS.
Does it seem like rents can only go up from here?
No, it doesn’t. The 99% are seeing their purchasing power & standard of living crushed by the “cost of living crisis.” Living wage jobs are vanishing and millions of Great Replacement 3rd World wage slaves are being imported to further suppress labor costs. Millions of people will be forced to move in with parents, siblings, etc. or live in their cars because they can’t afford the rents greedy corporate landlords and private equity bloodsuckers are demanding.
Come to think of it, we have a couple of young adult children living with us rent free for the moment, and a third young adult child
… living in the Accessory Dwelling Unit he and his wife built on his inlaw’s property, where they pay only nominal rent to her parents. And my nephew, who makes a good salary working at a Fortune 500 firm, lives with his mom so he can avoid paying pirate’s ransom rent to a bloodsucking real estate investor. So much for the theory that real estate always goes up, because everyone needs a place to live. And a big FU to corporate investor leeches who are running out of tenants to fleece.
Paradise at a Price
New report shows average rents across San Diego County on the decline
According to Zumper, despite the drop, San Diego ranks 9th nationwide with the highest rent prices.
Author: Shannon Handy
Published: 6:27 PM PDT September 11, 2024
Updated: 6:27 PM PDT September 11, 2024
SAN DIEGO — A new report shows on average, rental prices throughout San Diego are on the decline.
The report, by rental website Zumper, also found where you’ll find the cheapest and most expensive rents.
Out of 11 cities in San Diego County, Encinitas ranked number one as having the highest rent, where one bedroom units can cost an average of $2,680.
The city with the lowest average rent is El Cajon – where a one bedroom is $900 less at $1,780.
“Our rental data that we look at every month includes new construction, but excludes listings that are no longer available or are currently occupied,” said Crystal Chen, a spokesperson for Zumper.
Chen told CBS8, nationally, San Diego ranks 9th in rent prices, behind places like Los Angeles, Miami, San Francisco and New York, where one bedroom rents average $4500.
The good news – Chen says their study found in most places county wide, rents have gone down since last year, dropping from .6 percent in El Cajon to nearly eight percent in La Mesa.
“There’s been a ton of new supply hitting the market. More than 4,000 new apartments are becoming available across San Diego county this year. So that’s helping, you know, push prices down, or at the very least, slow down any increases. The U.S. Census Bureau also showed that, I think 31,000 more people moved out of the county than last year than moved in. So, you know, that probably resulted in a slight dip in the San Diego population overall, and that has probably lessened some of the rental demand as well,” said Chen.
…
https://www.cbs8.com/article/news/local/paradise-at-a-price/average-rents-san-diego-county-decline/509-66de6bea-996b-48d5-8ccc-e61f2b69cc22
“The U.S. Census Bureau also showed that, I think 31,000 more people moved out of the county than last year than moved in.”
We know a few of these folks, who laughed all the way to the bank in their new state where their California home equity gains are now parked. Meanwhile the California budget deficit keeps biggering and biggering and BIGGERING.
California Legislature approves budget that slashes spending to address $46.8 billion deficit
By ADAM BEAM
Updated 8:51 PM PDT, June 26, 2024
SACRAMENTO, Calif. (AP) — California lawmakers approved a budget on Wednesday that slashes spending and temporarily raises taxes on some businesses to close an estimated $46.8 billion budget deficit.
It’s the second year in a row the nation’s most populous state has been forced to pare back or delay some of its progressive policies that had been fueled by record-breaking surpluses during the COVID-19 pandemic.
It was just two years ago that Gov. Gavin Newsom and his fellow Democrats in the state Legislature were boasting about surpluses that totaled more than $100 billion, the product of hundreds of billions of dollars of federal COVID-19 aid and a progressive tax code that produced a windfall of revenue from the state’s wealthiest residents.
Those revenue spikes did not last as inflation slowed the state’s economy, contributing to a rising unemployment rate and a slowdown in the tech industry that has driven much of the state’s growth. The Newsom administration then badly miscalculated how much money the state would have last year after a seven-month delay in the tax filing deadline.
…
https://apnews.com/article/california-legislature-budget-deficit-229cca6cef2165c15ab1841db9f75fe0
“Sen. Jason Pizzo, a Democrat from Miami and leading voice on condominium issues, said flatly, ‘There’s not going to be a special session.’ Pizzo criticized the notion that elderly condo owners can’t afford high special assessments. ‘Thirty, sometimes 40 years have passed and we’re seeing the same person when they weren’t 80 but they were 40, joined in and voting to waive reserves and never put any money away for any repairs or replacements, and never asked, and very often maybe served on the board or had a position and wanted all the economies of scale and benefits of multifamily living with zero of the burden,’ he said.””
clapping wildly over here.
exactly!!!!!!!!!!!!!!!!!
clapping wildly over here.
He is exactly correct. I guess they should have moved a few years ago and came out like champs.
U.S. Govt. and all of us still living at the time, will have the a similar issue in the future it’s not a matter of if, it’s only a matter of when.
“Sen. Jason Pizzo, a Democrat…”
Condo owners will “school” this guy next election.
‘To be honest, we never thought this would happen here…We put our life savings in this Miami Beach project. The worst part is, we are not getting anything. I can’t believe the judge would allow this to happen. … I don’t think that’s fair’
They must have seen you coming miles away Jose.
‘Since 2020 to now, the unit owners in my association have seen fees go up $120 to $150 a month…all of a sudden she’s paying $700 a month or $800 a month in maintenance fees. She’s having a hard time eating’ Ensey said he saw a $32,000 quote to inspect one association jump to $50,000 six months later…‘That’s price gouging to me’
The commie urban living is flawed Wendell, you guys get gouged for everything. Insurance, rehab bids, property taxes. Everybody wants a piece of yer corpse as you float by.
“…Everybody wants a piece of yer corpse as you float by…”
The new normal: Even the vultures are having to fight for scraps.
Everybody wants a piece of yer corpse as you float by.
AKA, ” a cut” or “a piece of the action.”
“…AKA, ” a cut” or “a piece of the action….”
If your part of the 1%, its first dibs…
The FIRE sector is a good example. All those closing costs don’t pay for anything of value. The are “cuts”, people with their hands outstretched, expecting a commission: realtors, mortgage brokers, title companies, etc.
title companies
Eye-opening discussion: Exposed “MONEY GRAB” in Housing Market (1h14m50s)
‘Sellers that are willing to supplement the buyer’s payments for a year or two and they call that a 2-1 buydown; that can give you an extra 20% off of your first year’s payment,’ said Tamboer. She says sellers are also doing more to stay competitive. ‘Many other sellers are doing repairs, doing the things to bring those not so perfect properties up to par so that they can compete with all of the other listing on the market today’
Tina’s butt is firmly on the bus.
‘More people were able to work from home since the pandemic and that is why the demand for downtown condominium residences has dropped off,’ Huang said. Combine that with structural issues and it makes sense why the condo lost 45% of its value’
SF airboxes have been sinking like a turd in a well since 2015 Steve. Just look at this blogs archives.
‘You can’t really say exactly why people are leaving, but trends do show that people are leaving, especially in the age group of 25 to 44,’ Milman told Boston.com. In the report she noted that ‘nearly every group has more out-migration than in-migration’
[Verse 1]
I’ll have a blue Christmas without you
I’ll be so blue just thinking about you
Decorations of red on a green Christmas tree
Won’t be the same, dear, if you’re not here with me
[Verse 2]
And when those blue snowflakes start fallin’
That’s when those blue memories start callin’
You’ll be doin’ all right with your Christmas of white
But I’ll have a blue, blue, blue, blue Christmas
[Interlude]
[Outro]
You’ll be doin’ all right with your Christmas of white
But I’ll have a blue, blue, blue, blue
‘You can’t really say exactly why people are leaving, but trends do show that people are leaving, especially in the age group of 25 to 44,’ Milman told Boston.com. In the report she noted that ‘nearly every group has more out-migration than in-migration’
[Verse 1]
I’ll have a blue Christmas without you
I’ll be so blue just thinking about you
Decorations of red on a green Christmas tree
Won’t be the same, dear, if you’re not here with me
[Verse 2]
And when those blue snowflakes start fallin’
That’s when those blue memories start callin’
You’ll be doin’ all right with your Christmas of white
But I’ll have a blue, blue, blue, blue Christmas
[Interlude]
[Outro]
You’ll be doin’ all right with your Christmas of white
But I’ll have a blue, blue, blue, blue Christmas.
Traffic — Don’t Be Sad:
https://www.youtube.com/watch?v=AXGFbsFWAfg
Kamala Has No Economic Plan
Donald J Trump
6 hours ago
https://www.youtube.com/watch?v=dsW-16JKhWE
1:19.
“Kamala Has No Economic Plan”
Growing up in the middle class (even though that too is a lie) is not an economic plan?
Actually though she does have a Marxist economic plan, but there ain’t no fracking way she will let it slip until after the election.
New York Post
Business
Celebrity chef Andrew Gruel torches Newsom’s ‘self-congratulatory’ minimum wage hike: ‘Crushing the industry all around’
By Kayla Bailey, Fox Business
Published Sep. 22, 2024, 3:32 a.m. ET
According to Gov. Gavin Newsom, California’s controversial minimum wage hike has added about 11,000 jobs to the state’s economy.
However, celebrity chef Andrew Gruel cleared the air of what he called the governor’s latest “self-congratulatory propaganda.”
“It’s a little early to put the book on the shelf and kind of take the victory lap here. This is typical Gavin Newsom self-congratulatory propaganda based on questionable data,” Gruel argued, Thursday, during an appearance on “Varney & Co.”
“These aren’t even seasonally adjusted numbers, number one. Number two, he’s using nine or 10 months. And really, it’s only been three months in this data in which the bill actually took effect. So, you can cut those numbers down to like 5 or 6,000, which, in a grand scheme of 750,000 jobs, isn’t a huge number,” the chef explained, who currently owns five restaurants, one being located in California.
Gruel continued to dismantle Newsom’s claim, arguing that even if his highly touted data points are accurate, his policy will continue to have “unintended consequences.”
“Number one, the first thing that these multi-unit restaurants did when they found out about this bill was they took people who were working overtime, so anything over 40 hours, and they cut their hours down to 25 or 30. Those people went and got other jobs. They split positions. So instead of having one person working, say, 55 or 60 hours, they’re having two people work 30 hours or 32 hours, making it a full time job,” he explained.
Gruel warns that the minimum wage hike will have “unintended consequences.”
Newsom hiked the state’s minimum wage to $20 an hour in April of this year.
Since the policy has taken effect, Gruel argues that the shiny new policy has had unanticipated outcomes that have continued to plague the struggling food industry.
The celebrity chef revealed that this past April, his restaurants were “flooded” with people who were looking for a second job, and that his businesses have been continuously inundated in the months since.
Gruel continued to deconstruct Newsom’s baiting statistics surrounding the state’s job economy.
“What we didn’t look at was the fact that full service restaurants went down significantly. So, you raise the fast food jobs maybe by 6,000 or 7,000, but full-service restaurants were also closing. Well, why is that? Because I said from the very beginning, that this $20 an hour mandate is not just for restaurants with 20-plus locations in the fast food sector,” Gruel concluded.
“By targeting such a huge sector of the industry, you’re artificially increasing it without a mandate. But it really is a mandate for every single restaurant and specifically full service. This is crushing the industry all around. But we also haven’t seen the data play out yet.”
…
https://nypost.com/2024/09/22/business/celebrity-chef-torches-newsoms-self-congratulatory-minimum-wage-hike-crushing-the-industry-all-around/
Celebrity chef Andrew Gruel
You can’t make this up.
WATCH: ‘Who’s Next?!’: Biden Snaps at World Leaders, Forgets to Introduce India’s PM Modi
Olivia Rondeau
22 Sep 2024
President Joe Biden became confused at his final Australia-India-Japan-U.S. diplomatic press event, shouting, “Who’s next?!” at the crowd full of reporters and foreign officials before realizing that he was supposed to introduce the Indian prime minister.
The event for the four countries’ alliance, known as the Quad Summit, took place at Biden’s Wilmington, Delaware, home on Saturday, according to the New York Post.
“I want to thank you all for being here,” Biden told the audience. “And now, uh, who am I introducing next?”
A few seconds passed as Biden stared forward in confusion.
“Who’s next?” he shouted, which was followed by another uncomfortably long period of awkward silence.
Finally, an announcer’s voice cuts over the speaker and introduces Prime Minister Narendra Modi to the stage:
Gunther Eagleman™
@GuntherEagleman
We really don’t have a president.
Biden completely FORGOT he was at a press conference with the Prime Minister of India.
The entire world is laughing at us.
This guy is COOKED.
7:57 PM · Sep 21, 2024
·
https://x.com/GuntherEagleman/status/1837642375113351200
R A W S A L E R T S
@rawsalerts
🚨#BREAKING: Over 50 juveniles ride their bikes and storm into a 7-Eleven, ransacking and trashing the store
📌#BeverlyHills | #California
Watch wild video as over 50 juveniles ride their bikes into a 7-Eleven parking lot in Beverly Hills, California. With their faces covered by hoods and masks, they storm the store, ransacking it and stealing numerous items. Some are seen laughing as they run back to their bikes, their hands and pockets filled with snacks and stolen goods. The group caused significant damage before fleeing the scene on their bikes, all before officers could arrive. The exact amount of merchandise stolen and the extent of the damage remain unclear.
0:12 / 0:51
1:28 AM · Sep 21, 2024
https://x.com/rawsalerts/status/1837363341360046429
Tim Conway Jr Show
@ConwayShow
Mob loots Beverly Hills 7-11. Dozens of juveniles on bikes ransack Pico-Robertson 7-Eleven store for second time
@ABC7
4:26 AM · Sep 21, 2024
https://x.com/ConwayShow/status/1837407958487257176