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People Who Are Not Pricing Right Are Finding It Out Fairly Quickly

A report from ABC Action News. “As state leaders grapple with solutions to the looming condo crisis in Florida, several people wrote in to ABC Action News over rising fees and special assessments they’re facing. It’s hard to beat the picture-perfect views from Al Winsser’s home. He’s owned his family’s condo in Tierra Verde for about four years with the idea to simplify life and start traveling. ‘But now things have just been going up and up and up, so we’re kinda thinking was it the right decision or not?’ said Winsser. ‘Just with the insurance things that happened, when we looked at buying this, it was $450 a month for the condo fee,. First month we moved in here, it went to $550. After a year, it went to $750. Now it’s at $950, and with the new reserve requirements, they’re talking about it going to $1,100- $1,200 a month. If it keeps going up at the rate it’s gone up, we’re not going to be able to afford to live here ‘”

WCTV in Florida. “The new law is painting a broad brush, sweeping up condo owners who live in places with as few as five units. For example, condos on South Calhoun in Tallahassee are technically three stories, but residents say it’s more like two-and-a-half when you include the basement. This building is subject to milestone inspections, and one condo association president said it will cost about $7,500. That expense is just for phase one, a ‘visual inspection.’ If there are any issues, then the price increases. The state legislature requires condo associations to pay for these inspections, but for the condos on South Calhoun, just five people own the condos and will have to pay for the inspections out of pocket. ‘Nobody can get any answers,’ Denise Bishop, a condo owner said. ‘So we have our small unit. I mean a small building. We basically the five of us get together and say, what do we do now?'”

Orange County Register in California. “Kerry McCalmont’s insurance company told her to cut down the majestic oak tree towering over her Glendale house if she wants to renew her homeowner’s policy. But there’s a catch. A city ordinance declares that indigenous trees are ‘natural aesthetic resources’ that add ‘distinction and character’ to its neighborhoods. They cannot be damaged or destroyed. McCalmont spent $3,200 to remove bushes and trim her trees, clearing the limbs within 10 feet of her roof. The fire department inspected and said the tree wasn’t a hazard, she said. To no avail. On Tuesday, Sept. 17, the insurance company informed McCalmont it won’t renew her policy. ‘I feel like I’m stuck between a rock and a hard spot. I can’t comply,’ said McCalmont, 60. ‘Talk about stress and being a little angry. It’s beyond my control.'”

“Laguna Village resident Patti Casas was hoping to move to Oregon in about two years to be closer to her family. Now that’s in doubt. The community levied two special assessments for maintenance because so much of its revenue has been going for insurance, she said. ‘For the people who have tried to sell, it’s been difficult. Think about it. We have practically no homeowner’s insurance,’ said Casas, 66. ‘It’s not getting better with all these current wildfires. … We’re always watching where fires are around us. You always live with this fear. Could we lose everything?'”

Silicon Valley in California. “Home prices in the Bay Area fell for the first time in 13 months. Across the Bay Area, inventory was at its highest level since February 2023, as falling rates motivated some sellers to finally list their homes after waiting for months. ‘With more homes on the market, buyers have more choices,’ said Barbara Clemons, president of the Bay East Association of Realtors. ‘Sellers may have to make some adjustments and be sure that they’re pricing their homes accordingly.’ ‘A lot of sellers realized, ‘I’m not going to wait if I want to make a move. Let’s do something now,’ said David Stark, director of government affairs for the Bay East real estate agents group.”

“With homes taking longer to sell, ‘pricing is everything,’ said Tim Yee, a San Jose-based real estate agent. ‘It’s been enough of an uptick in inventory that people who are not pricing right are finding it out fairly quickly,’ Yee said. ‘We’re seeing less of people saying, ‘My neighbor sold his place for $2 million, so I should be able to get that.'”

Willamette Week in Oregon. “Las Vegas developer Max Sass makes frequent appearances in our vacant-property files. He popped up in Northeast Portland four years ago, promising to build affordable housing at an abandoned car wash. (State funding dried up and Sass dropped out.) The next year he promised to turn a historic Alphabet District church into a luxury hotel. (The deal stalled.) Meanwhile, he’s been snatching up properties in North Portland with plans to turn them into condos. Surprise, surprise: There have been a few hiccups. In 2020, Sass purchased a pair of homes in the Overlook neighborhood. One is vacant and the subject of neighbors’ complaints. The other, the subject of this week’s inquiry, is a two-bedroom house on a dead-end road overlooking Interstate 5. It has since attracted so much attention from firefighters and city inspectors that it’s now in foreclosure.”

“Meanwhile, the property was left to rot. Shortly after Sass bought it, someone complained of foul-smelling water leaking into the basement. City inspectors arrived to find that the garage had been converted into an unpermitted living space. The home’s tenants had left. Squatters moved in. Firefighters responded to a pair of blazes in early 2022, one in an SUV out front and the second inside the home, which was ‘full of trash needles and other drug items,’ according to a state fire marshal report.”

From Bisnow. “In the first half of 2022, as interest rates remained at all-time lows and the economic impacts of the pandemic faded, buyers flocked to the market. In New York City, $11.7B was spent on investment properties. But as rates and uncertainty rose, buyers and sellers went into hibernation. Just $5.8B of properties traded hands in the first six months of 2024. This week’s Fed announcement has already begun melting the ice and waking the players. Compass Vice Chair Adelaide Polsinelli took aim at the energy this week, calling it ‘momentary optimism.’ ‘No one has confidence in the Fed, so I think that’s why those of us who are ho-hum about it are saying, ‘Yeah, OK, a little too much, too little, too late,’ Polsinelli said. ‘It brings people back to the table, but we don’t know what table we’re at. Are we at a table for a lender? A borrower? A buyer?'”

The Globe and Mail in Canada. “From a downtown Ottawa sidewalk, Kevin Aubin has been watching what he describes as alarming changes in the city’s downtown, several blocks south of Parliament Hill. The veteran panhandler says that he is seeing an influx of troubling newcomers on Bank Street in Ottawa’s core. ‘There is too much violence down here – and drugs,’ says 47-year-old Mr. Aubin, who on a good day makes about $60 from strangers passing by his spot. When confrontations arise, he says he stands his ground. ‘I just tell them to keep walking.’ Mr. Aubin, who lives in government housing and receives income assistance, says he regularly sees agitated and aggressive people who need help. ‘Get them into homes or rehab centres or something like that. I don’t like seeing people out here doing what they’re doing. It’s ruining their lives.'”

“Brenda Knight, a member of the board of the Centretown Community Association, says while homelessness has long been a reality of the area, her organization has been getting complaints from residents concerned about the presence of needles from drug use and people using compost bins for their possessions. People are sleeping in the planters near her condo, which is about three blocks from Parliament Hill. ‘People are going, `What’s going on?’ she says.”

The Miami Herald. “Behind the bar of a once derelict warehouse turned boutique hotel, Georges Boursiquot is dressed in his signature Brooks Brothers shirt. Across the room, a birthday celebration is underway in what’s a rare busy night at L’auberge Du Vieux Port hotel as diners enjoy meals. Ten years ago, Boursiquot and his wife Marguerite Baril-Boursiquot, both Haitian, did what many in the country’s burgeoning diaspora long dreamed of: They permanently moved back to Haiti. With personal savings from the sale of their Brooklyn brownstone and loans from banks and the U.S. Agency for International Development to encourage investments in a post-quake Haiti, they bought a former coffee warehouse along Jacmel’s famous Rue du Commerce. Over three years, they worked at transforming its centuries old French-style architecture into a modern-day boutique hotel with 12 rooms.”

“But what began as a mission to “come back home and do the right thing,” after spending most of his life outside of Haiti after fleeing under the brutal Duvalier dictatorship regime, has since turned into ‘an economic disaster,’ says Boursiquot, 71. He now finds himself questioning the decision amid frustrating gang-controlled roadblocks, closed local government offices and the disappearance of vacationers who once poured into this seaside town on Haiti’s south coast. ‘For the last five years, generally, I could spend the whole week here without selling a hot plate of food or I can spend a month not renting a room,’ he said. ‘Even if I would be occupied 60% of the time I still won’t be able to repay the loan,’ said Boursiquot, complaining about the lack of grace that has come from the banking sector.”

From Bloomberg. “Valeriy Shevchenko was getting ready to move into a new three-room apartment in Berlin’s upscale Prenzlauer Berg district before disaster struck. More than a year later, it’s still unfolding as part of the turmoil in German housing. Project Immobilien-Gruppe, the developer of the multi-family residential building where Shevchenko had bought a unit, went bankrupt, leading to a halt in construction just a few months before the family of three was supposed to move in. The site still sat abandoned a year later, leaving the Shevchenkos in limbo.”

“Not only are they stuck in their rental indefinitely, but their €250,000 or about US$279,000 initial payment – about half of the apartment’s total cost – is tied up in the insolvency process. Now, on top of their rent, they’re covering interest on the loan they took out to finance the down payment. ‘I didn’t think something like this was possible in Germany,’ he said. Half-finished shells of would-be homes have become a regular sight across the country. Ambitious acquisitions at high prices were fuelled by plentiful cheap debt from both bond markets and banks. Unlike most other European countries, German developments could be undertaken with ‘little or (almost) no equity,’ according to a presentation from PwC. This high leverage meant they were particularly vulnerable when construction costs surged and financing dried up.”

“‘We’ve seen a lot of situations where people had basically borrowed against the land from banks to get planning but haven’t done anything,’ said Zach Vaughan, chief investment officer of real estate at Arrow Global, an investor in distressed assets. ‘Banks are sitting on a large loan and you can’t even pre-sell the apartments because the development company is essentially gone,’ he said. That means little prospect for relief for would-be home buyers like the Shevchenkos. Their project was picked up by a new contractor in spring, but construction didn’t restart this summer as hoped. ‘I’m really worried that they will drop out too as soon as they realise that finishing this isn’t as profitable as they want it to be,’ Shevchenko said.”

My Joy Online. “Accra’s affluent neighbourhoods, such as East Legon, Cantonments, Trasacco and Airport Residential, are known for their stunning homes and opulent lifestyles. But amidst the grandeur, an unusual trend has emerged: large, fully furnished houses sitting vacant for months or even years. For Kwame Mensah, a seasoned real estate agent with over 15 years in the industry, the sight of empty mansions is not a new phenomenon. According to him, the boom in Accra’s real estate market has led to an oversupply of luxury homes. ‘Many of these properties are built by wealthy Ghanaians living abroad or foreign investors who want to tap into the growing demand for high-end homes in Accra. But the truth is, the demand isn’t growing as fast as the supply. The upper class in Ghana is not large enough to fill all these homes, and many expatriates prefer renting rather than buying.'”

“He points out that the value of land in these prime areas continues to rise, making it a good investment for those who can afford it. ‘They don’t mind leaving these houses unoccupied because the value appreciates over time. They see it as a long-term investment. To them, it’s better than putting the money in the bank.’ Akua Nyarko, a resident of East Legon for over 20 years, finds the trend of unoccupied houses puzzling and, in some ways, unsettling. ‘Every morning, I pass by these huge, beautiful homes that nobody lives in. Some of them have perfectly manicured gardens and state-of-the-art security systems, but not a soul inside. It’s strange. I remember when I moved here, these neighbourhoods were full of life. Now, it’s almost like a ghost town in certain areas.'”

From Leadership. “An industry analyst Victor Akaa from Lugbe, Abuja, has stressed that the Nigerian real estate market, which has experienced unprecedented growth due to increased demand for housing and commercial spaces, is now facing an alarming surge in fraudulent schemes perpetrated by unscrupulous developers, Akaa highlights how the promise of homeownership has turned into a nightmare for many Nigerians, with countless victims losing their life savings, loans, and inheritances. Many of these developers market non-existent or incomplete projects, using fake documents and persuasive marketing materials to attract investors. In some cases, they sell properties in developments that are either significantly delayed or completely abandoned, leaving investors stranded.”

“One notorious scheme, known as the ‘Buy Back’ arrangement, is frequently used to trap buyers. Developers promise readymade homes with a buy-back option if terms are not met within a specified period, only to abscond, often relocating abroad—most commonly to the UK—while flaunting political connections to avoid accountability. ‘The consequences are devastating,’ Akaa noted, highlighting the emotional trauma, financial ruin, and mental health issues many victims experience. ‘Many Nigerians who have fallen prey to these scams are left in financial distress, with little chance of recovering their investments.'”

From Benar News. “Malaysia is doubling down on reviving Johor state’s Forest City, an area that is host to a troubled Chinese housing megaproject, by offering a slew of incentives it hopes will attract foreign investment to the region and foster its development. Real estate analysts and developers, though, have mixed feelings about how successful these incentives will prove in growing the region’s economy and enabling a turnaround of the fortunes of the housing project. The debt-laden Chinese developer Country Garden’s U.S. $100 billion project, once pitched as a luxury residential enclave for mainland investors has now been dubbed a ‘ghost town.'”

“Country Garden wanted to capitalize on China’s then-booming property market to offer Forest City as an investment opportunity for Chinese buyers. Samuel Tan, chief executive of Olive Tree Property Consultants, noted that the appeal to Chinese buyers made sense at the time. ‘They were attractive to the Chinese buyers because they were familiar with [the developer],’ he told BenarNews. ‘And China was experiencing an upsurge in wealth creation and property prices were spiking. Malaysia was a preferred investment destination as our property prices were relatively low.'”

“But as of August 2023, the venture was only 15% developed, Khalil Adis, founder of Singapore-based Khalil Adis Consultancy, had told BenarNews. A Bloomberg News report that same month said that according to Country Garden, 9,000 people lived in Forest City. Local and regional news reports referred to the development as a ‘ghost town,’ because even with just 15% of it completed, few residences were occupied and the deserted streets and empty malls made it look like a post-apocalyptic township.”

“The company’s woes came to a head in the middle of 2023, when it failed to pay tens of millions of dollars in interest due on debt securities. Soon, the former powerhouse in China’s real estate market announced it would undergo offshore debt restructuring after defaulting on $11 billion in offshore bonds, several media reported. Carmelo Ferlito, of the consulting firm Center for Market Education, doesn’t believe Forest City can morph into an industrial area. ‘Forest City was built with a different purpose in mind and therefore, while I think that the Special Financial Zone is a good project … it is important that it evolves into something different. A financial hub is something very different from a residential hub,’ he said. ‘While the SFZ is a good idea, I doubt it can fully heal the previous scars.'”

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This Post Has 117 Comments

  1. ‘Across the Bay Area, inventory was at its highest level since February 2023, as falling rates motivated some sellers to finally list their homes after waiting for months’

    Oh dear…

    1. “Home prices in the Bay Area fell for the first time in 13 months.”

      I wonder how many greater fool investors bought the dip, just before the next leg down into the CR8R?

  2. Monday morning.

    Time to go generate some federal ncome taxes, for which you will receive NOTHING in return.

    1. The IRS Union just endorsed Kamala Harris. Mockery is the only appropriate response. The low-IQ/low-information voters who think a Kamala regime intends to raise taxes on the Democrat Party’s ultra-wealthy donors are in for a rude awakening as 87,000 new armed IRS agents fan out to extract even more wealth from the middle and working classes to fund Kamala’s socialist agenda.

      https://x.com/elonmusk/status/1837917860343304284

      1. If you are self employed expect the new IRS agents to scrutinize every single business expense you have on your return.

  3. “with the new reserve requirements, they’re talking about it going to $1,100- $1,200 a mont”

    At least it was cheaper than renting.

      1. I imagine that with those ever increasing HOA fees they’ll have a hard time selling those units. The system is rigged to take your property no matter what. Even if you own your property outright, there’s some trap out there waiting for you to put your foot in it.

        1. “If the American people ever allow private banks to control the issue of their currency first by inflation then by deflation the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered… The issuing power should be taken from the banks and restored to the people to whom it properly belongs.”
          ― Thomas Jefferson

      2. You were warned. Florida is finished.
        If I want to buy a FL condo and my HOA is $1200 and I can afford a total payment of $1800/month and I can put down 20% then the total I can pay for my condo is $125,000. The payment on a 30 year at 6% on a $100,000 loan is $600. (or $1800 total/month)
        A $150,000 30 year loan at 6% $900. (or $2100 total)
        Condos in FL are gonna to have to come down big time for them to be affordable.

        1. Like how FL condos used to be? It used to be a reasonable for a snow birders with some savings and pension or residual income to buy a small condo in FL for the winter, to avoid the terrible midwestern winters. That seems out of the question now.

  4. “inside the home, which was ‘full of trash needles and other drug items,’ according to a state fire marshal report”

    At least there’s no more mean tweets now, Portland.

    1. Ironic that the iconic AK-47, for decades a symbol of violent Communist revolution and expansion, might end up being a primary bulwark (in the hands of patriots) against Democrat-Bolshevik plans to impose a Communist totalitarian regime in the former USA.

  6. ‘J…ust with the insurance things that happened, when we looked at buying this, it was $450 a month for the condo fee,. First month we moved in here, it went to $550. After a year, it went to $750. Now it’s at $950, and with the new reserve requirements, they’re talking about it going to $1,100- $1,200 a month….”

    Another sleepy Monday, another out-of-control holding costs story.

    “…If it keeps going up at the rate it’s gone up, we’re not going to be able to afford to live here… ‘”

    No worries, you can always rent out your front porch to a vagrant.

    1. My husband’s sister is dying of pancreatic cancer. His brother is there helping her out. Last week, he got diagnosed with pancreatic cancer (stage 2), too. Knowing them, I have no doubt they’re fully vaxxed. They don’t want to hear about anything they might try. Granted, they’re both in their 70s, and it might have happened anyway.

  9. Does it seem like monopolist corporate landlords are screwing renters in your area and driving up homelessness. Monopolies are illegal under US federal law, but not in California, where the state government partners with them.

    1. Real Estate
      Blackstone raised rent prices at double the market rate — up 79% at one building — in San Diego, report says
      A report accuses investment management company Blackstone of contributing to the San Diego rental crisis.
      CBS 8 San Diego / CBS8.com
      While we adhere to strict editorial guidelines, partners on this page may provide us earnings.
      Sabina Wex
      Updated Aug 13, 2024

      A report published Aug. 1 has accused corporate landlord Blackstone of being a major contributor to the San Diego rental crisis.

      The report, compiled by the Private Equity Stakeholder Project, a private equity watchdog, and the Alliance of Californians for Community Empowerment, a community advocacy group, is titled “Helter Shelter: How Blackstone Contributes to and Profits from California’s Broken Housing System.” It aims to show how it’s possible the investment management company imposed huge rent increases — at nearly double the rate of the market average — across a set of rental properties over three years.

      Here are some key takeaways from the report, plus what you can do as a tenant in the face of massive rent hikes.

      Rent increases

      Blackstone purchased 66 rental properties with 5,800 units in the San Diego area for over $1 billion in 2021, according to the San Diego Union-Tribune. Since then, the company has increased rent at most of these properties by 38% — from an average of $1,696 a month to $2,339 a month — the report states, citing data from real estate research firm Yardi Matrix. One building’s rent prices increased by an average of 79%, while another experienced a 71% jump.

      Meanwhile, the report says the average rent increase across all apartments in the San Diego market was 20% — from $2,259 a month to $2,706 a month — during that time.

      Many of the units purchased by Blackstone were considered “naturally occurring affordable housing,” according to the report, meaning they were affordable but not subsidized by government housing initiatives — and vulnerable to large rent increases upon ownership change.

      According to the report, in late 2022, the company ended a self-imposed moratorium on evictions for non-payment on rental units across the country — a policy the company says was put in place in light of the pandemic. While rent hikes in California are capped at 10% a year for most residential tenants, the law doesn’t apply to a new tenant’s rent price, meaning an eviction can lead to a potential windfall for the property owner.
      …
      https://moneywise.com/real-estate/blackstone-san-diego-rent-hikes-report

    2. Analysis
      Blackstone’s Liabilities to UC Rise as Fund Loses Value
      It’s all about a complex CRE deal that isn’t doing anywhere near as well as the planners figured.
      By Erik Sherman
      | February 28, 2024 at 04:27 PM

      The saying about the best laid plans of mice and men applies all the way up and down the economic ladder. And after a complex set of investment and owed return, Blackstone Real Estate Income Trust is getting deeper in the hole with the University of California, according to the Financial Times.

      “The world’s largest alternative asset manager promised UC an 11.25 percent annual return from the property fund, called Blackstone Real Estate Income Trust, or BREIT, as part of a deal to draw $4.5 billion in new investment,” the paper wrote. “But as the fund lost value last year, Blackstone’s liability to UC has grown to $560 million.”
      …
      https://www.globest.com/2024/02/28/blackstones-liabilities-to-uc-rise-as-fund-loses-value/

      1. Here’s to hoping this unholy alliance between the California state government and Blackstone goes straight down the CR8R to Hell.

        1. Remember what the comedian said, “They’re coming for your retirement money. They want it back so they can give it to their criminal friends on Wall street…”

      3. Blackstone is run by America hating tiny hats and they are targeting and wrecking higher education on purpose. Most people have no idea.

        1. Every discussion I’ve seen regarding increasing college expenses is quickly steered off-course with talk of lavish dormitory amenities, climbing walls and PAC-12 football teams, never any charts or spreadsheets with factual data. There’s an epidemic of cowardice among college administrators and professors.

          1. There’s also far, far more administrators than any school could possibly need. And if most of them were fired, it would have no impact in the classroom,

      1. I can’t speak for the rest of America, but all of the suburban trailer parks in the Chicago area are hispanic now. I used to have older relatives live in one, and I occasionally had to check up on them, and I was the only middle aged white person physically present in the entire mobile home park when I visited. I had been going there for years and watched it change from 95% white to 95% hispanic over the course of a decade. I had to stand in line once at the clubhouse and the people in front of me and behind me, none of them spoke any English whatsoever. A mobile home in this particular community costs $70,000 for a 3/2 single-wide, and the rent was $1,200 a month as of last year plus the private refuse which is roughly $100 a month. I heard the lady in the clubhouse answer the phone, and speaking in English, she said the mortgage on the mobile home was separate from the $1,200 rental fee. I just looked into mobile home financing and it’s nearly a 9-10% mortgage rate with bad credit. I did the math and that’s about $650 a month on a $65k loan over 15 years. Plus the $1,200 rental fee. So nearly $1,950 a month to live in a trailer.

        1. This type of thing is ugly and eye opening but the reality is we all have the ability to organize and do things differently but no one does because the truth is we are all greedy and want to play the game. This country has no shortage of cheap land to plunk some fully depreciated trailers on. There ought to be little freedom villages popping up all over flyover but instead many people prefer lay down on the sidewalk and turn to drugs. Humanity is odd.

    1. Some (low)lights:

      “….US household debt jumped by $109 billion in Q2 2024 to an all-time high of $17.8 trillion….”

      How many hundreds of years would it take for all the Joe Averages to pay off this debt?

      Very hard to wrap your head around how big $17.8 trillion is.

    1. Market Extra
      Stock investors face a gut-wrenching 3 months ahead after record market run
      ‘There’s this debate between a hard landing, a soft landing or no landing that continues,’ says Lerner at Truist Advisory Services
      By Joy Wiltermuth
      Last Updated: Sept. 23, 2024 at 8:33 a.m. ET
      First Published: Sept. 21, 2024 at 8:30 a.m. ET
      U.S. stocks punched to record highs after the Federal Reserve cut interest rates in the past week. What comes next doesn’t look like a smooth path. Photo: Spencer Platt/Getty Images
      …
      https://www.marketwatch.com/story/stock-investors-face-a-gut-wrenching-3-months-ahead-after-record-market-run-5e84b560

      1. That may or may not happen as you age, but if there’s one immutable truth in life, it’s that realtors are liars.

  12. Ok, so the FDA approved the Mpox vaccine. What follows is information I got on it.

    -Delivered in 2 shots 28 days apart.
    _CDC doesn’t know how long the vaccine protection will last.
    -It’s basically the smallpox vaccine.
    _Long list of potential side effects, including heart damage, death, etc.
    -Reports say it’s a “live virus ” Vaccine.
    -Some reports say you would have to isolate for 6weeks after getting the live virus vaccine to prevent it shedding on people in proximity to you.
    _Pharmacies, drug stores etc, vaccine givers would be exposed to a live virus small pox vaccine. You could be in line at market next to someone who just got the vaccine and be exposed to the shedding of the live vaccine of smallpox.
    They discontinued the smallpox vaccine in 1972, claiming they had
    eliminated smallpox globally.
    Some Doctors are saying if your 51 years or older you probably got the smallpox vaccine, therefore you probably have some immunity left.
    The big complaint by reporters/Doctors on this live virus vaccine, is the side effects, even potential to give you small pox, and the shedding from the vaccine on people in proximity to the vaccinated. Some Doctors are saying a vaccinated person would have to isolate for 6 weeks to prevent shedding of vaccine on people within range of them .

    So, the question becomes , why did they decide to use a live virus vaccine of smallpox , with all the dangers inherent, to treat the so called WHO declared Panademic of International concern.
    They could of used a dead virus vaccine, which would of been a lot safer.
    Apparently this vaccine isn’t a Mrna vaccine, but I wouldn’t trust them at this point.
    The outrageous potential of this vaccine dispearment is the vaccinated will spread it to people who didn’t take the vaccine, and they will be subjected to the same side effects.
    As one Dr Reporter said in summary , it doubtful they will advise the vaccinated to isolate for 6weeks to prevent transfer of vaccine to people in close range.
    Some Doctors think that what is being diagnosed as Monkeypox is actually side effects from the Covid 19 vaccine.
    Anyway, we all remember Bill Gates saying that some terrorists could release smallpox, as one of his public warnings.
    There it is.

  13. ** ” People are sleeping in the planters near her condo, which is about three blocks from Parliament Hill. ‘People are going, `What’s going on?’ she says.”

    You can ask Marvin Gaye but I suspect Otis is sleeping off another bender in the county jail, taking up valuable space.
    hell, I don’t blame him: with Andy’s guitar pickin’, Barney’s singin’ & Aunt Bee’s fried chicken it’s heaven on earth, yessiree !!

  15. A reader sent these in:

    Wow! The number of single-family homes for sale in metro Phoenix is increasing even fast!

    The number of homes for sale is in the “normal” range but the increase in the number of homes for sale is abnormally fast for this time of year.

    https://x.com/JohnWake/status/1837931549607563721

    Some thoughts on jobless claims:

    I think there’s a strong possibility that claims are being suppressed vs prior cycles and thus overstating labor market strength. A lot of this is due to efforts by the states themselves since 2009. A few points.

    Unemployment insurance used to be a standard 26 weeks in all US states. After the Great Recession, 8 states passed laws reducing max benefits below 26 weeks. Post- covid, several more states have moved to reduce benefits, and in 2024 there are 12 states with max benefits <26 weeks.

    Some states have also tightened eligibility rules, making it harder to access benefits or to stay compliant. For example, Iowa in 2022 amended its rules so that a worker is required to accept a -40% pay reduction offer within just 5 weeks of benefits or lose access.

    Also, compensation has not kept up with cost of living or inflation in many states. California has been paying the same $450 max/week for two decades. In Florida it is just $275. For many states, benefits have not been raised simply because the state's trust fund is insolvent and they're not contributing enough in good times. These were reasons given back in 2013 and the finances have not improved. States have contributed less and less to their Unemployment Trust Funds in the years since GFC. Entering 2024, 32 out of 50 states had insolvent funds.

    A few other factors adding pressure to claims take-up: a surge of migrants who haven't worked enough yet, and white collar sector layoffs paying a lot of severance, both of which reduce eligibility, which is also tracking near historical lows. Not to mention that gig jobs often pay more than paltry state benefits, as mentioned above, which may help explain the big shift from full-time to part-time work.

    With these points in mind, it is less surprising that we have the LOWEST unemployment insurance recipiency rate of any cycle - meaning the fewest number of unemployed workers are applying for benefits. This metric hovered close to 45-50% for decades until the 1980s, and today it is below 30%, meaning less than 1-in-3 unemployed workers are applying.

    All of these factors are contributing to a lower rate of claims than we have seen in decades past relative to unemployment, influenced largely by states' efforts to discourage benefit uptake in the years since the Great Financial Crisis.

    Put these with the fact that claims are often a lagging recession indicator, and the low figures we're seeing today don't seem as compelling as perhaps in decades past.

    https://x.com/TXMCtrades/status/1837683884567191915

    50bp cut > short term positive catalyst

    Big economic warning sign ⚠️

    https://x.com/DonMiami3/status/1837636759972094263

    60% of all condos 500-599 sqft in the C01 (core Toronto) area have sold for less than 600k. 5% of which have dropped below 500k. Price per sqft ranging from $950-$1050/sqft.

    Pre-cons were being sold for $1500-$1800/sqft just 12 months ago.

    https://x.com/ManyBeenRinsed/status/1837540156833714426

    Lululemon in worse trouble than I thought $LULU

    Not only is the store by me in Deerfield being robbed blind with impunity… they’ve been forced to advertise with hot blonde women again.

    Woke management only does this when their jobs are on the line 😳

    Short the stock?

    https://x.com/BankerWeimar/status/1793500116214526376

    The IRS Union just announced they are endorsing Kamala Harris. Let’s go!

    https://x.com/harris_wins/status/1837482259303022702

    Seeing this in the Restaurant Performance Index data, foot traffic data, etc.

    Been a tough time for restaurant companies – large & small.

    https://x.com/DonMiami3/status/1837884345538826701

    Recently spoke the owner of a family-owned, small Mexican restaurant. The prices are very reasonable, and yet, they have been hit very hard. His customers are simply tapped out. They’ve reached the end of their spending limits.

    https://x.com/agent_kujan/status/1837890103924215945

    You lose your job in Florida, you get an 8 week package, you can’t file for UI during this period, your severance expires – are you forfeiting all income for $250/WK UI or doing gig work and part time employment for $750/WK?

    https://x.com/DonMiami3/status/1837877516750487584

    This is what $750 a month gets you in Garden Grove, California

    https://x.com/ClownWorld_/status/1837853066579922990

    Guy sneaks onto a construction site and they put him to work 🤣

    https://x.com/ClownWorld_/status/1837621138559848606

    Every Surrey realtor literally saying the market has changed and prices are going up cuz 3 rate cuts and 2% CPI & they will shoot up more when the new 1.5M insured mortgage cap goes into effect in Dec.

    Meanwhile … Surrey SFD inventory sky rocketing to multi decade highs. 😂😂

    https://x.com/ManyBeenRinsed/status/1837916198593614294

    Rite-Aid has paid out over $78 million in wage theft settlements for stealing from employees.

    So when do we start locking up their executives instead of the 2-liter bottles of Pepsi?

    https://x.com/DarrigoMelanie/status/1837835282449670228

    It looks like third world but it’s Germany.

    https://x.com/RadioGenoa/status/1837980655935996272

    Zoomer culture

    https://x.com/ReaperCapital/status/1837954458866929898

    So did you know that there are more dwellings per person than there have been in the last 20 years?

    https://x.com/Dr_Gingerballs/status/1837660204227289261

    Foreign Investors dumped a RECORD HIGH $10.5 billion worth of Japanese Stocks last week

    https://x.com/Barchart/status/1837256037532922358

    The NYPD is using “Barnacles” to combat illegal parking.

    They are commercial-grade suction cups that latch onto the glass with 1,000 pounds of force, making forcible removal next to impossible.

    https://x.com/Rainmaker1973/status/1837835487903453232

    FEDEX conference call, 9/19/24: “The magnitude of the FOMC rate cuts yesterday signals the weakness of the current environment we are seeing.” Jerome Powell: “The economy is strong”. Who’s the gas lighter? 😇

    https://x.com/market_sleuth/status/1837993868391833901

    1. Zoomer culture (purchasing frivolous monthly expenses)

      I’m a late Gen X but I did graduate with a significant amount of student debt. My parents were poor. I test well so I got accepted to college/grad school. When I graduated my student debt load was in the $200,000, which is insane, and it gave me considerable stress for many years. But I finally paid it all off within the past several years, I’ll tell you this, I wouldn’t wish student loan debt upon anyone except for my worst enemies (ie Democrats).

      I was very fortunate during repayment, to never have a bad job loss or health issue, so I was able to consistently make payments. I also had low interest rates in the 2’s unlike the 8% rates on student loans today. I rented a very cheap apartment for many years. That kind of cheap rent doesn’t exist anymore outside of the ‘hood. I also bought my home basically at the bottom of the last market in my area (thanks 99% to following the HBB). I can’t imagine the kids nowadays graduating with 8% interest rates on their loans $2k rents. Skipping coffee, or packing a lunch, or a new iphone every four years won’t going to make any sizable dent in onerous student loans.

      My wife didn’t have student loans and we have the same degree (met in school!). We keep completely separate finances but share the bills. But we live the same cheap lifestyle. She earns about what I earn. However, her net worth is significantly, and I mean significantly, higher than mine, because while I was (on average) making $1,200 a month in student loan payments with post-tax income (the student loan deduction is nearly worthless), she was investing $1,200 a month in pre-tax income in her retirement plans and elsewhere. It just wasn’t possible with my income especially early in my career to put that kind of money into savings. It kind of bums me out, to be honest. Could I saved more? Probably. But I lived the same frugal lifestyle as my spouse, and yet here we are, i’m the poor one directly attributable to massive student loans early in my career.

      1. Don’t take my sob story to mean I’m poor, because I’m not. And no one should feel any sympathy for me, because I’m one of the luckier ones. But student loans are designed to siphon off future income to hand it to the far left communist universities today.

        And because of this, we will have an entire generation of citizens poorer for it.

        I’ve mentioned here once before that everyone’s standard of living has been reduced because of inflation, and debt, but they just don’t know it. I know mine standard of living has been reduced because of it. Now multiply that by tens of millions. Just who exactly do boomers think they’re going to sell their $700k split levels to?

        1. Debt serf—I’m an early boomer and I am not going to sell my $700K home , but rather I I am going to buy another new build and rent this out to you and your friends with the high degree’s. You can have your degree’s ( BS means Bull shi*** and MS means more of the same while PHD means piled higher and deeper ) but definitely a lack of common sense. Never bought a Mercedes but rather a Ford or Chevrolet or a Plymouth, but somehow we ended up with 5 paid for houses and a sizeable bank account. Start thinking long term instead of short term gratification.

          1. I’m an early boomer
            LOL, I could do one of those green texts for your post.

            I know you’re being sarcastic though, but it would be funny:

            >Early Boomer thinks that buying a Ford Pinto rather than a Mercedes is why he is wealthy.
            >Hasn’t entered the job market in decades, still thinks a firm handshake is what gets jobs these days, not knowing computers filter resumes by keywords looking for degrees
            >Has no idea that rents near jobs center are near historic highs
            >Believes that the 1/3 of 18-34 year olds who still live at home are ‘just lazy’
            >Thinks that spending $10 on lunch at work is wasteful, thinks the boss would respect frugalness, and will give promotion
            >Thinks people can save money by foregoing smart phones, not understanding that most websites require 2 factor authentication, need a smart phone just check bank account balance
            >Has an AOL.com email address
            >Tells people “I worked my way through an Ivy college driving a school bus (I actually know an 85 year old professional who did this), doesn’t understand that in-state tuition costs $35,862-$41,126 and full-time school bus drivers don’t earn that much money

          2. I worked my way through an Ivy college driving a school bus

            Ha! I worked my way through school splitting firewood on a farm. $4/hr. Tuition was only $300/semester.

            Owned 5 houses but only one at a time.

      2. +1

        This is a really good post.

        Clawing your way out of debt can feel impossible. Most of the young apprentices working for me know college is mostly a scam.

        1. In many cases, yes, a degree is mostly a scam but there are a lot of good jobs with only one path to get there, and it goes through college: architect, doctor, lawyer, accountant, engineer, business, vet, nurse, scientist, professor (especially this!). While I hate the college system, I also don’t believe that conservatives should not go to college, thereby completely handing over all the jobs that require college education to the laptop liberal class. It’s bad enough as it is, imagine a world where zero engineers or chemists or scientists are conservative. We already have that in marketing, sociology, communication, social work, psychology, and those professions have been destroyed.

  16. More than a year after the Titan submersible imploded, killing all five voyagers on board, the story of the ill-fated expedition to the Titanic has taken the form of a modern-day Greek tragedy overflowing with mortal pride and heedlessness.

    Testimony during the first week of a hearing by a U.S. Coast Guard panel probing the disaster has painted a damning portrait of the Washington-based company that developed and operated the 23,000-pound submersible as well as its founder – who charged deep-pocketed passengers about US$250,000 per dive.

    “What this really comes down to is hubris and greed,” Peter Girguis, a Harvard University professor and oceanographer who has been monitoring the hearing, told CNN.

    “It’s both tragic and ironic that this example of hubris occurred within a few 100 meters or yards of another example of hubris, which is the Titanic,” he added, referring to another infamous maritime disaster involving what was the largest passenger ship in service and considered “unsinkable” when it struck an iceberg in 1912.

    https://www.ctvnews.ca/world/hubris-and-greed-takeaways-from-the-first-week-of-u-s-coast-guard-inquiry-into-the-titan-submersible-disaster-1.7047726

  17. SINGAPORE — Investors trying to get their money back from a gemstone scheme which bears the hallmarks of a multi-level marketing programme say they have been stonewalled for years.

    The investors, who set up a chat group of about 100 participants, include a number of elderly retirees.

    On Aug 23, about 10 of them turned up at the fourth floor of Ubi Techpark, in Ubi Crescent, and thumped tables and shouted at staff.

    The police were called in to restore calm. The Straits Times understands that they are looking into the investors’ complaints.

    The investment scheme involved amber gemstones. Investors were awarded points, which could be redeemed for cryptocurrency tokens that promised high returns.

    Shonna Seow, 42, a business owner, turned up at the Ubi Techpark office on Aug 23 with her parents, who are in their 80s.

    She said her parents each invested $35,000 in 2017 with Global GC.

    Her mother told ST in Mandarin: “We didn’t earn any profits, not even one cent. We only got a few hundred dollars from introducing new members. They said those were profits, but it was actually only commission.”

    Seow said that when they tried to get their money back, they were told they had to pay a sum of money.

    She said the money her parents invested was part of the proceeds from selling their three-room flat.

    “They wanted to keep the money for their retirement. But they were swayed by their friend’s words to invest.

    “I asked the (firm’s representative), ‘These old people don’t even know how to use computers, how do you expect them to understand cryptocurrency?'” she said, adding that she has made a police report.

    https://www.asiaone.com/singapore/we-didnt-earn-any-profits-angry-investors-demand-refund-gemstone-scheme-police-called-ubi

  18. Prime Minister Justin Trudeau told delegates at the United Nations the world is at a global inflection point, having a choice between walking away from multilateralism or setting differences aside to confront serious global challenges.

    Trudeau was speaking at the UN’s first-ever Summit of the Future. The high-level event brings world leaders together to create a new international consensus on how to strengthen democracy, defend global security, improve access to health care, including reproductive health.

    Progress on the Pact of the Future could be stalled with Russia, Saudi Arabia and other countries objecting to language around climate change and reforming international financial institutions.

    The summit is a moment of reckoning for the UN, as countries move away from established partnerships and splits into different coalitions and blocks. The Summit of the Future was first announced by UN Secretary-General António Guterres in 2021. Two years later he called for urgent action noting the world was falling behind on meeting its sustainable development goals (SDG’s).

    “The SDG’s need a global rescue plan,” Guterres told the High-Level Political Forum on Sustainable Development Goals last September. “Today, only 15 per cent of the targets are on track and many are going in reverse.”

    https://www.ctvnews.ca/politics/trudeau-tells-world-leaders-they-have-a-responsibility-at-un-summit-of-the-future-1.7047961

  19. Will liberal Portland elect a law-and-order mayor? Why Rene Gonzalez is betting yes

    During his nearly two years on the Portland City Council, Rene Gonzalez has crafted a consistent message embraced by his numerous supporters — but hasn’t notched many substantive wins.

    Among the list of accomplishments he touts at campaign stops or behind podiums: He visited every Portland fire station during his first nine months in office. He ignored the outcry in some corners and halted city workers’ distribution of tents and tarps, although county workers and contractors have continued to hand them out. He pushed hard for and secured a ban on public drug use, which remained moot until the state changed the law as of three weeks ago.

    “We’re changing the narrative of our city,” Gonzalez recently told a group of about two dozen people gathered on the outdoor patio of a bar in the Woodstock neighborhood.

    With fear and frustration still permeating the public ether in Oregon’s most populous city, that alone may be enough for him to become its next mayor.

    Given Gonzalez’s unabashed law-and-order platform and steady self-assurance, fans and foes alike credit him as a driving force behind Portland’s migration toward the center on crime and homelessness in the last two years.

    And while his modest policy achievements at City Hall pale in comparison to those of his strongest opponent in the mayor’s race, Commissioner Carmen Rubio, his laser focus on talking up livability issues clearly resonates with residents who say they struggle to recognize the Portland they now inhabit.

    His unwavering stances favoring stepped up policing and less accommodation of people experiencing homelessness and addiction have made him a polarizing public figure derided by critics and at times a target of attempted intimidation. A series of political missteps and unforced errors have elicited further scrutiny and scorn from some quarters.

    That baggage could hamper his ability during the city’s first election using ranked-choice voting, which allows voters to choose up to six candidates in order of preference — and completely leave out the ones they don’t like.

    “I’m going to hold the line on our core values,” he said. “I’ll be unbending on public safety.”

    Gonzalez wants to dramatically increase the size of the city’s police force and rapidly expand Portland’s number of service-rich tiny home shelters to get more people off the streets. He vows to crack down on graffiti taggers and those who smash storefront windows. He says he won’t hold back on tough conversations with Multnomah County or the state.

    Gonzalez’s conviction that a vocal, powerful minority has steered local and state government astray with reckless policies has also made him persona non grata in progressive circles and among liberal organizations that have historically held tremendous sway in Portland politics.

    Yet homelessness, drug use and crime remain top concerns among Portlanders, public opinion polls show. No other candidate, observers say, speaks to those issues as forcefully or as clearly as Gonzalez.

    “Rene’s message is resonating in East Portland,” said Terrence Hayes, who is running for one of three new council seats in the city’s most neglected quadrant.

    The area, Portland’s poorest and most diverse, has the city’s highest concentration of shootings and traffics deaths and the fewest sidewalks and paved streets, said Hayes. Police are slow to respond to break-ins, derelict RVs and encampments.

    “People here want to feel safe and don’t want to backslide any further,” Hayes said. “They know that we can have both compassion and accountability.”

    The emerging coalition, coupled with an angry electorate, is the same that helped him oust incumbent Commissioner Jo Ann Hardesty in 2022 by running up significant margins east of Interstate 205 and west of the Willamette River while staying competitive in the inner, more liberal North, Northeast and Southeast parts of the city.

    In May, a nearly identical coalition helped Vasquez topple current District Attorney Mike Schmidt, who was unable to shake the perception that he was soft on crime.

    The rhetoric Gonzalez developed and deployed in that race was unsparing. Many political insiders and operatives believed it was too harsh for Portland sensibilities. He called Hardesty an anti-police “extremist,” decried “out of control crime” and candidly talked about his desire to drive segments of Portland’s unsheltered population out of the city.

    Gonzalez won decisively.

    “He’s not Portland nice when Portland nice isn’t called for,” said Kim McGair, a Laurelhurst resident who worked with Gonzalez on ED300 and has supported his races for public office. “There’s so much pressure to toe the perceived political line in Portland. What Rene understands is that a silent majority actually wants something else.”

    Gonzalez also blasted the way Multnomah County is moving forward with plans to offer drug offenders an off-ramp to the criminal justice system with its so-called deflection center. Deflection is the option Democratic lawmakers, including Portland’s all-Democrat delegation, strongly favor.

    “I’m not sure deflection is going to work at scale,” Gonzalez continued. “If there’s not a functional deflection system, I will direct Portland police to take people straight to jail.”

    https://www.msn.com/en-us/news/us/will-liberal-portland-elect-a-law-and-order-mayor-why-rene-gonzalez-is-betting-yes/ar-AA1qZRbg

    1. Maybe it’s time to treat vermin and criminals – and their enablers – like the scum that they are.

  20. Since 1944 the U.S. dollar has been the world reserve currency, due largely to Saudi Arabia and the conservative Gulf Arab countries agreeing to denominate oil sales in dollars. At the time the U.S. was the world’s undisputed economic and military superpower, and the Saudis implicitly trusted us to protect the world’s oil supply and shipping lines from regional and international threats such as the Soviet Union. Fast forward to 2024, and the once-mighty USA is a corrupt banana republic with a fraudulently installed dementia patient as our AWOL “president” while the Fed is debasing the U.S. dollar – once backed by gold – into worthlessness. No surprise that Saudi Arabia is joining the de-dollarization movement by dumping its U.S Treasuries and stockpiling gold instead.

    https://www.jpost.com/business-and-innovation/precious-metals/article-821289?dicbo=v2-57uoT22

      1. China is in such bad shape right now they are practically exporting deflation via Amazon and eBay. They’re selling whatever they can, at whatever price they can sell it for. There’s some really good deals these days on cheap crap online. I bought an outdoor TV cover for $20. In my head before I bought it I thought, I bet this costs $60. My neighbor bought a really nice looking new bike seat for $20! That’s a $50 or $60 bike seat at the local bike shop. I purchased specialty computer cable online the other day for 1/3rd the cost of the local box store.

  22. The US Commerce Department on Monday will propose a ban on the sale or import of smart vehicles that use specific Chinese or Russian technology because of national security concerns, according to US officials.

    A US government investigation that began in February found a range of national security risks from embedded software and hardware from China and Russia in US vehicles, including the possibility of remote sabotage by hacking and the collection of personal data on drivers, Secretary of Commerce Gina Raimondo told reporters Sunday in a conference call.

    There is a very simple solution to this: do not connect any car’s electronics components to a wireless interface. Of course that would mean that our own government wouldn’t be able to spy on us in our cars or hack our vehicles (it’s OK when they do it), they’re just upset that others might be able to exploit these back doors.

    1. “… do not connect any car’s electronics components to a wireless interface….”

      Very dangerous situation evolving.

      Underlying technology exists to monitor every engine start, every turn, max speed, engine metrics [ie oil temp], geo position, number of seats being used, (and if bandwidth is available) to capture live stream of every camera on your vehicle both exterior and interior.

      It just a matter of time before insurance and public road providers (ie CalTrans here in Calif) demand such data to prove that you are ‘road worthy’.

          1. They are just going to make you have their app on your phone and it will just compute the gps data. No one’s going to escape.

          2. Just leave the phone home, unless you really need it. Turning it off could be an option too, though there is the question of whether it really turns off.

      2. All cars manufactured after 2026 will be equipped with a kill switch that allows the vehicle to be remotely disabled. No need to mention which party pushed for this Orwellian creepiness (hint: they hate private autos because they want to control, approve, surveil, and monitor your every movement). Now all that’s needed is to implement a social credit scoring system to determine who among the proles is worthy of driving or traveling. Big Brother is watching you….

        https://www.avpress.com/opinion/editorial/the-kill-switch-yes-it-really-is-going-into-new-cars/article_9799e4a2-fd22-11ee-a3ea-cf852a8ba2ee.html

        1. There is a whole lot of engineering talent out there that will figure a way to disable a ‘kill’ switch or any other nonsense.

          No one is going tell me how to drive my truck, where to drive, or when to drive. I would imagine there are many others who share my opinion.

          1. You’re missing the point. The Democrat-Bolsheviks want total information awareness on every citizen and their sources of income and wealth. Remember, these are the same people who overwhelmingly supported forcibly removing children from households where the parents refused to take the clot shot, and have openly discussed the need to “re-educate” Les Deplorables. The worthless pretend-opposition Republicans have gone along with all of these Orwellian measures. This is all about control by a globalist-controlled party with a pathological hatred for the Constitution, freedom, and Heritage America.

          2. While it will be feasible to disable, I think it could be a lot harder to do than most think. Perhaps an industry insider with access to source code could create a replacement ROM, or whatever they use these days to contain code in car electronics.

          4. How about we tell DC to fook off.

            We tried that in 2020. The deep state laughed at us and installed FJB. It’s going to take more than harsh words.

          6. Have you ever been knocked on yer a$$?

            I’m a rather large dude, so no, I haven’t. But I do believe in fighting back. And we need to fight back, but we need to recognize that the enemy has been very cunning, as they have systematically taken over academia, big corporations the bureaucracy (the deep state) and even religious institutions. They did this quietly, without fanfare, and now that they believe that they have achieved critical mass they are dropping all pretense of being the “loyal opposition”.

            That they nominated Harris is them giving us the finger. They are saying “we are going to install a harlot and a moron as president, and there is nothing you can do to stop us”.

          7. So why are they trying to kill President Trump?

            Texas has a guvnah who was the first to say screw this lockdown. He’s widely supported. And he has advanced many more pro liberty motions since. My take on the Texan mood if they steal another election or assassinate Trump is, we would say see you later folks.

            https://www.azlyrics.com/lyrics/jerryjeffwalker/londonhomesickblues.html

            And of the whole damn lot
            The only friend I got
            Is a smoke and a cheap guitar
            My mind keeps roamin’
            My heart keeps longin’
            To be home in a Texas bar

            I wanna go home with the armadillo
            Good country music from Amarillo
            And Abilene
            The friendliest people and the prettiest women you ever seen

            Well, I decided that
            I’d get my cowboy hat
            And go down to Marble Arch Station
            ‘Cause when a Texan fancies
            He’ll take his chances
            Chances will be taken
            That’s for sure

          9. That they nominated Harris is them giving us the finger. They are saying “we are going to install a harlot and a moron as president, and there is nothing you can do to stop us”.

            Indeed. Well said.

      3. It just a matter of time before insurance and public road providers (ie CalTrans here in Calif) demand such data to prove that you are ‘road worthy’.

        Insurance companies are already nagging us to install a dongle on the car’s diagnostic port, in exchange for a “lower premium”

        1. Insurance companies are already nagging us to install a dongle on the car’s diagnostic port, in exchange for a “lower premium”
          Yeah, I keep hearing the ads. No way, and I think I am a fairly good driver, but I have my moments. Food stores also want all your data, although using someone else’s phone number who has a “card” works just fine.

    1. Kind of shatters the narrative that inflation has been whipped.

      Also, it could be interpreted as Mr. Market fears that Cameltoe will be dragged across the finish line.

  25. ‘But now things have just been going up and up and up, so we’re kinda thinking was it the right decision or not?’ said Winsser. ‘Just with the insurance things that happened, when we looked at buying this, it was $450 a month for the condo fee,. First month we moved in here, it went to $550. After a year, it went to $750. Now it’s at $950, and with the new reserve requirements, they’re talking about it going to $1,100- $1,200 a month. If it keeps going up at the rate it’s gone up, we’re not going to be able to afford to live here‘

    The answer to yer question Al, before you started all that loser talk, is absolutely! If being a winnah! was easy everybody would be one.

  26. The painters were working on our jobsite last weekend and they painted over the HVAC fire dampers from a newly built maintenance room, essentially ruining them. The HVAC technician told me today that it will probably be a month until new dampers can be manufactured (custom part) and shipped. This job was supposed to be done and final inspections and certificate of occupancy by end of this week.

    Big corporate customer, big general contractor who does a lot of corporate jobs. The unskilled labor comes in and f*s over the skilled trades, every single time.

    No certificate of occupancy for you!

    1. The unskilled labor comes in and f*s over the skilled trades, every single time.

      “Oye Jose, que significa ‘do not paint?'”
      “Yo que se, yo tampoco hablo ingles”

  27. ‘For example, condos on South Calhoun in Tallahassee are technically three stories, but residents say it’s more like two-and-a-half when you include the basement. This building is subject to milestone inspections, and one condo association president said it will cost about $7,500. That expense is just for phase one, a ‘visual inspection.’ If there are any issues, then the price increases. The state legislature requires condo associations to pay for these inspections, but for the condos on South Calhoun, just five people own the condos and will have to pay for the inspections out of pocket. ‘Nobody can get any answers,’ Denise Bishop, a condo owner said. ‘So we have our small unit. I mean a small building. We basically the five of us get together and say, what do we do now?’

    Going over the flaws of commie urban living is a daily thing these days at HBB Denise. You’ve spotted another aspect, thank you. Yer relying on guberment to fix the gigantic mess they watched you drift into. And they watched you do it for over 40 years and actually encouraged the a$$ pounding direction yer now experiencing. Well, good luck.

  28. ‘if she wants to renew her homeowner’s policy. But there’s a catch. A city ordinance declares that indigenous trees are ‘natural aesthetic resources’ that add ‘distinction and character’ to its neighborhoods. They cannot be damaged or destroyed…‘I feel like I’m stuck between a rock and a hard spot. I can’t comply,’ said McCalmont, 60. ‘Talk about stress and being a little angry. It’s beyond my control’

    You should sue the guvnah Kerry.

    ”was hoping to move to Oregon in about two years to be closer to her family. Now that’s in doubt. The community levied two special assessments for maintenance because so much of its revenue has been going for insurance, she said. ‘For the people who have tried to sell, it’s been difficult. Think about it. We have practically no homeowner’s insurance,’ said Casas, 66. ‘It’s not getting better with all these current wildfires. … We’re always watching where fires are around us. You always live with this fear. Could we lose everything?’

    No one said being a winnah! came without risks Patti.

  29. ‘With more homes on the market, buyers have more choices…Sellers may have to make some adjustments and be sure that they’re pricing their homes accordingly…A lot of sellers realized, ‘I’m not going to wait if I want to make a move. Let’s do something now’…With homes taking longer to sell, ‘pricing is everything’…‘It’s been enough of an uptick in inventory that people who are not pricing right are finding it out fairly quickly,’ Yee said. ‘We’re seeing less of people saying, ‘My neighbor sold his place for $2 million, so I should be able to get that’

    Talk em down outta that tree guys, keep up the good work!

  30. ‘Polsinelli took aim at the energy this week, calling it ‘momentary optimism.’ ‘No one has confidence in the Fed, so I think that’s why those of us who are ho-hum about it are saying, ‘Yeah, OK, a little too much, too little, too late,’ Polsinelli said. ‘It brings people back to the table, but we don’t know what table we’re at. Are we at a table for a lender? A borrower? A buyer?’

    It’s possible Jerry steered into an iceberg Adelaide, years before this panic rate cut.

  31. while homelessness has long been a reality of the area, her organization has been getting complaints from residents concerned about the presence of needles from drug use and people using compost bins for their possessions. People are sleeping in the planters near her condo, which is about three blocks from Parliament Hill. ‘People are going, `What’s going on?’

    That’s yer sweet equity disappearing Brenda.

  32. ‘‘For the last five years, generally, I could spend the whole week here without selling a hot plate of food or I can spend a month not renting a room,’ he said. ‘Even if I would be occupied 60% of the time I still won’t be able to repay the loan,’ said Boursiquot, complaining about the lack of grace that has come from the banking sector’

    This is a well written article worth reading in full. You know what really fooked him? Inflation. Inflation is way worse outside of the US.

    1. Inflation is way worse outside of the US.

      I am hearing the same. In Mexico the Commies claim there is no inflation, while my relatives tell me it’s eating them alive. And that’s sad because Mexico did once beat inflation, and that was accomplished by over a decade of austerity.

  33. This is sad.

    Fidelity SPAXX is paying 4.72% down from 4.97% a few weeks ago. Gotta lower them rates, refill the trough for the Wall Street Pigs to eat from. That’s about the only reason this country exists, anymore.

    1. So what other options are there? One can stack gold and silver, but you need a safe place to keep it. Do neighborhood banks still offer safe deposit boxes? And if they do, are they really “safe”? I recall reading depression era stories of feds confiscating gold from safe deposit boxes. Yeah. they “compensated” those who suffered confiscation, at below market prices.

      Or do you buy gold through your 401K, say a Fidelity gold fund?

  34. With all this news about condo assessments, insurance premium increases, and SFH prices it sure does feel good renting!

  35. ‘Shevchenko was getting ready to move into a new three-room apartment in Berlin’s upscale Prenzlauer Berg district before disaster struck…The site still sat abandoned a year later, leaving the Shevchenkos in limbo…Not only are they stuck in their rental indefinitely, but their…US$279,000 initial payment – about half of the apartment’s total cost – is tied up in the insolvency process. Now, on top of their rent, they’re covering interest on the loan they took out to finance the down payment. ‘I didn’t think something like this was possible in Germany’ he said. Half-finished shells of would-be homes have become a regular sight across the country. Ambitious acquisitions at high prices were fuelled by plentiful cheap debt from both bond markets and banks..Unlike most other European countries, German developments could be undertaken with ‘little or (almost) no equity,’ according to a presentation from PwC’

    And what’s Jerry’s solution? More cheap debt! These guys have a single string violin.

    ‘This high leverage meant they were particularly vulnerable when construction costs surged and financing dried up…‘We’ve seen a lot of situations where people had basically borrowed against the land from banks to get planning but haven’t done anything’

    That’s some sound lending right there Zach.

    ‘Banks are sitting on a large loan and you can’t even pre-sell the apartments because the development company is essentially gone,’ he said. That means little prospect for relief for would-be home buyers like the Shevchenkos. Their project was picked up by a new contractor in spring, but construction didn’t restart this summer as hoped. ‘I’m really worried that they will drop out too as soon as they realise that finishing this isn’t as profitable as they want it to be’

    You got schlonged Valeriy.

  36. “The veteran panhandler says that he is seeing an influx of troubling newcomers on Bank Street in Ottawa’s core. ‘There is too much violence down here – and drugs,’ says 47-year-old Mr. Aubin, who on a good day makes about $60 from strangers passing by his spot. When confrontations arise, he says he stands his ground. ‘I just tell them to keep walking.’ Mr. Aubin, who lives in government housing and receives income assistance, says he regularly sees agitated and aggressive people who need help. ‘Get them into homes or rehab centres or something like that. I don’t like seeing people out here doing what they’re doing. It’s ruining their lives.’”

    That’s rich, advice from a “veteran panhandler”!

  37. ‘He points out that the value of land in these prime areas continues to rise, making it a good investment for those who can afford it. ‘They don’t mind leaving these houses unoccupied because the value appreciates over time. They see it as a long-term investment. To them, it’s better than putting the money in the bank’

    An empty expensive shack in a sh$thole country is a proven winnah! Kwame.

    ‘Every morning, I pass by these huge, beautiful homes that nobody lives in. Some of them have perfectly manicured gardens and state-of-the-art security systems, but not a soul inside. It’s strange. I remember when I moved here, these neighbourhoods were full of life. Now, it’s almost like a ghost town in certain areas’

    That may be Akua, but the local board is adamant that there’s a shortage of shacks and mud shantys in East Legon.

  38. ‘Developers promise readymade homes with a buy-back option if terms are not met within a specified period, only to abscond, often relocating abroad—most commonly to the UK—while flaunting political connections to avoid accountability. ‘The consequences are devastating,’ Akaa noted, highlighting the emotional trauma, financial ruin, and mental health issues many victims experience. ‘Many Nigerians who have fallen prey to these scams are left in financial distress, with little chance of recovering their investments’

    The UK and especially London, is the money laundering capital of the world and has been for decades.

    1. The UK and especially London, is the money laundering capital of the world and has been for decades.

      That scammers flee to Britain and not some third world sh!thole without extradition treaties speaks volumes.

  39. ‘Local and regional news reports referred to the development as a ‘ghost town,’ because even with just 15% of it completed, few residences were occupied and the deserted streets and empty malls made it look like a post-apocalyptic township’

    I’ve been blogging about this debacle since the uproar over what natural beauty they were destroying to build it.

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