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A Combination Of High Prices, High Mortgage Rates And High Insurance Has Just Totally Collapsed The Market

A report from the Wall Street Journal. “Anthony Holmes was part of the great Florida migration. In 2021, he moved from Virginia to a gated suburban community in Tampa. Now that he has had to leave, Holmes is another victim of a glutted housing market where buyers are increasingly hard to find. He paid $550,000 for his five-bedroom home and spent another $50,000 on solar panels and interior improvements. When he had to move back to Virginia for work, Holmes expected to sell his house quickly. But since listing it in February, he has had no luck. He dropped the price five times to $583,900 and would be happy simply to break even. ‘I can’t unload the thing,’ Holmes said. ‘In eight months, I’ve had zero offers. No one even showed up to the open houses. Nobody.'”

“In certain portions of Florida’s condo market, a correction is already here. rices are plummeting at many older buildings. While units built 10 years ago or less are selling for about 9% more today than they did last year, units 30 years or older are going for 19% less than they did last year, according to brokerage ISG World. At the Cricket Club condominium in North Miami, for example, two-bedroom units with water views that had been selling for $450,000 or more are now going for as little as $200,000 after residents were hit with a $134,000 assessment.”

“Another sign that the housing market is approaching an inflection point is that institutional investors—pinched by the same climbing insurance costs—are starting to sell. In Tampa, Orlando and Jacksonville, institutional portfolios of single-family homes account for nearly one in 20 listings over the past 60 days, according to an analysis by Parcl Labs. Those, such as Holmes, who have to sell properties are finding it tough and are tangling with rising insurance premiums. His insurance company dropped him a year ago after Hurricane Idalia scraped past, hitting just north of Tampa Bay. While the storm missed Tampa and his home was unaffected, he went from paying $1,700 a year to more than double that. ‘I have no doubt that a combination of high prices, high mortgage rates and high insurance has just totally collapsed the market,’ he said.”

Business Insider on Florida. “On September 27, the morning after Helene tore through the city of St. Petersburg, real-estate agent Katie Mallah received a call from a client with a recently-listed three-bedroom, two-bathroom home in the Shore Acres neighborhood, a collection of man-made islands. They asked Mallah to slash the asking price of their house, which had sustained nearly three feet of water damage. ‘They wanted to get out,’ Mallah told Business Insider. ‘They said, ‘We’ll demo everything, but we want to price it to just get out. So come up with that number.’ Mallah chopped the listing price by 40%, lowering it from $375,000 to $225,000. Within hours, she said, she was inundated with about 25 calls and 50 text messages from investors interested in tearing down the home and building a new one.”

“Palm Beach agent Holly Meyer Lucas said many homeowners who aren’t required to purchase flood insurance choose to go without it. ‘So many homeowners have dropped flood insurance or whittled their own insurance down to the absolute minimum,’ Meyer Lucas told Business Insider. If a homeowner lives outside traditional flood zones, they may forgo specific flood protection, but still pay for wind and homeowners insurance. But when they are hit with a historic storm surge like Helene, it becomes difficult to separate what was solely water damage. ‘It basically makes the home a total loss if they don’t have flood insurance,’ Meyer Lucas said. ‘We’re going to see a lot of people needing to sell their homes because they can’t afford the remediation,’ she said.”

My San Antonio in Texas. “According to housing data supplied by PR consulting firm HAVAS Formula, median sale prices, closed transactions and the close-to-list price ratio were all down both year over year and month over month in mid to late September. Plus, houses were sitting on the market for longer and housing market inventory in San Antonio continues to climb. ‘In our market, we have been seeing increased days on the market, and we have been seeing the average price drop in the greater San Antonio area, but there is still opportunity for the buyers who are actively looking,’ RE/MAX Broker Associate Sara Gerrish told MySA. ‘We are not seeing a lot of above list price offers, [so] now sellers are more likely to consider concessions to buyers.'”

“Gerrish says increased interest rates have helped cool down the market since the pandemic, when rates dropped significantly which sparked rapid interest in the housing trade. Further, she says the mass influx of Californians racking up the rates has died out some – a phenomenon noted by several potential buyers who said California transplants were entering a much more affordable housing market were able to outbid in Texas.”

Mansion Global on New York. “Manhattan’s luxury market continued its lackadaisical performance in the third quarter. The effect on pricing was fairly muted, with the median luxury price down 4% to $5.76 million since a year ago, in line with the broader market, where the median price dipped 3% to $1.12 million, Elliman’s data showed. This is the second consecutive quarter where luxury prices have slipped, according to Elliman. Two-thirds of new development units sold below the $3 million threshold, but the biggest discounts were recorded in the upper tiers of the market, according to Serhant. Units priced between $7 million and $10 million sold at a 9.6% discount on average, while sales for units above $10 million saw discounts of 5.8%, while loaded with 13.4 months of available supply.”

The Daily Mail. “Californians are sidestepping the state’s acute housing shortage and soaring property prices by building cute cottages in their backyards – but not everyone is happy about this new development. Some experts are warning that ADUs can drive down the price of single-family homes in neighborhoods because potential buyers may not want to live near the tenant of the backyard unit. Even though it’s become all the rage, a San Francisco real estate agent raised serious concerns about ADUs and their potential impact on the housing market.”

“Rohin Dhar said he sees plenty of single family home owners who build ADUs to rent it out for some extra income. The problem comes, he says, when they list their home, especially if there’s a tenant in the additional unit. ‘But when they go to sell the home, it sells for way less than if they had never built the ADU,’ he wrote in a post on X. ‘You’re basically selling a single family home with someone living in the in-law unit. That’s a hard sell!'”

Silicon Valley in California. “When Ashwin and Poonam Jain began searching for a larger home for themselves and two children in San Ramon earlier this summer, they quickly realized they were spending hours scrutinizing homes online, evaluating school districts and comparing sales prices of nearby listings. So why would they pay an agent tens of thousands of dollars to come in at the end and write up an offer? ‘As a buyer, we are doing all the work,’ Ashwin said. ‘Sometimes we struggled to see: Where is the value added from a broker?'”

“Now, buyers can’t count on sellers to pay their agents’ fees. Since the real estate group’s new rules debuted in August, buyers have had to sign agreements with their agents promising to pay a certain commission if the seller doesn’t offer one. Chris Robell, a retired tech executive, used ShopProp last year to both sell his home in Palo Alto for $2.56 million and buy a new one in Redwood City for around the same price, paying total fees of around $10,000. He estimates that he saved $120,000 in agent commissions. ‘It’s a high commission structure in the prevailing industry,’ Robell said. ‘It’s well worth it to pay something, but $100,000 for a home is ridiculous.'”

The Telegraph on Oregon. “I get off the bus at SW 6th Avenue, a handsome tree-lined street at the heart of downtown Portland. The site of the notorious former open-air fentanyl market outside an abandoned shopping mall, where until last year the strong and very cheap synthetic opioid was being freely traded, is now boarded up. The streets are quiet. It’s 18 months since I’ve set foot in downtown Portland. Like many residents and tourists, it’s been easier to simply avoid than risk the chaos of what many in the last few years have called an ‘open-air asylum experiment.’ This experiment has been encouraged by disastrously liberal policies including the defunding of the police, the decriminalisation of the possession of hard drugs for personal use, and the quashing of city codes preventing street camping (along with the actual handing out of tents by local government bodies and charities).”

“For anyone that has worked hard to avoid these outcomes in their own life, these sights were particularly triggering, and the chaos, exacerbated by Covid lockdowns, has already resulted in the fatal overdose of almost 1,000 people from fentanyl alone, mostly in the downtown area, the collapse of hundreds of businesses, and the desertion of the city by residents and retailers. But the city is finally on the mend. Although quiet, the main core of downtown Portland feels functional again. Anupama Rao, 32, from India, visited two years ago and again this summer. ‘Then, when I was driving in downtown Portland I saw a lot of homeless people and tents. One person was literally defecating on the side of the street and others were openly injecting drugs. It was disgusting. Now, it’s much cleaner, I don’t see any homeless activity and it feels safe. I now feel like coming downtown is worth it because I can actually hang out.'”

“Portland is a sprawling city, and it will be a long process to fix all of its 94 neighbourhoods. Most of Chinatown still feels unsafe, with large groups loitering around charity buildings, tents and junk-filled shopping carts. The approach to the otherwise magnificent Union Station is a terrible introduction to the city for anyone using Amtrak; I witnessed a fight and a staff member at a local hotel told me they had suffered vehicle damage and violent behaviour with little help from the authorities.”

Canadian Mortgage Trends. “Canada’s mortgage industry is responding to the federal government’s recent adjustments to mortgage rules, aimed at improving affordability for certain buyers. The new rules, which come into effect on December 15, will see the cap on insured mortgages raised from $1 million to $1.5 million, along with an expanded 30-year amortization option for first-time buyers and those purchasing new builds. ‘It is a band aid solution,’ asserted rate expert Ryan Sims in his weekly newsletter. ‘The problem remains that housing is too [expletive] expensive! Increasing the amortization does not lower the cost of housing. Extending the payments out longer does nothing to fix the root cause of the issue—it simply masks the symptoms.'”

CTV News in Canada. “Ottawa’s new mortgage rules set to take effect at the end of the year are drawing both praise, and caution in southern Ontario. Last month, the federal government announced it was making the ‘boldest mortgage reforms in a decade’ aimed squarely at young people trying to buy a home. ‘I would not want to be a first-time homebuyer at this moment in time,’ said Fred Godbolt, a financial advisor with GC Financial Solutions Group Inc. based in Exeter, Ont. ‘I don’t think this increases affordability for lots of people,’ said Godbolt. ‘I think the problem is carrying the $1.5 million of mortgage, not the fact that you can pay it over 30 years versus 25 years.’ The increased price cap is the first update since 2012 and Godbolt describes it as ‘keeping current’ with market trends. ‘There are markets where housing doesn’t exist sort of under a million dollars,’ said Godbolt.”

“Ottawa’s announced changes are receiving praise from the Windsor-Essex County Association of Realtors (WECAR) for its measures targeting first-time buyers struggling to secure a home. ‘We applaud these changes because, at this moment, this is the best I think the government can do,’ said Maggie Chen, the president of WECAR. ‘We cannot crash the market. Absolutely not.'”

From YLE News. “At the start of September, Finland had 5,000 unsold new-build apartments, according to the Ministry of Finance. Property investors’ lack of enthusiasm is especially evident in the capital region, where the number of unsold new apartments has risen sharply. A recent report from the Finance Ministry indicates that the number of unsold new flats is now unusually high, resulting in longer sales times for these properties. Finland’s largest housing developer, YIT, has a total of 1,212 unsold new apartments, with 867 located in Finland, according to the latest available data.”

“New apartments have typically been purchased by real estate investors, and when interest rates rose, investors stopped buying them. As a result, the drop in demand has been steeper for new apartments compared to older ones, Veera Holappa, a senior economist at Pellervo Economic Research (PTT), told Yle. Despite sitting on a record number of unsold flats, construction companies have so far been reluctant to lower their prices. ‘Construction companies hesitate to lower prices because it could impact their balance sheet values and access to new loans. They want to sell their existing inventory to be able to start new projects,’ Holappa explained.”

“Instead, construction companies have offered various perks, such as electric cars or free moving services, to draw buyers. These campaigns have, however, done little to boost sales. Lately, housing developers have also resorted to lowering prices. Pohjola Rakennus, for example, is offering a ten percent discount on the debt-free purchase price of certain new construction apartments, along with a year of maintenance fees included in the deal. ‘Right now it’s a buyer’s market for new construction, so customers should definitely be asking for price reductions,’ said Janne Paasimies, managing director of realtor Sp-Koti.”

ABC News in Australia. “Greg Manning spent last Wednesday hosing down embers that kept raining down onto his house from a nearby building fire. It was the third fire in two months in a cluster of derelict buildings at Woolloongabba, in Brisbane’s inner-east, which developers have left abandoned for years. The empty plots have become overgrown with weeds and the dilapidated buildings have attracted vandals, squatters, and copper thieves. Four houses near Mr Manning were bought by developers and left vacant, two of which have since burnt down. Mr Manning said the neighbourhood has never quite felt the same since the neighbours moved out. ‘What I’m feeling as time’s gone by, especially since 2013 when our neighbours were removed, is the safety of the neighbourhood has really been undermined,’ Mr Manning said. ‘In Woolloongabba, housing is increasingly being treated as a commodity, rather than a community.'”

“Griffith University urban and environmental planning researcher Natalie Osborne said abandoned buildings in Brisbane numbered in the tens of thousands. Dr Osborne said this was often due to ‘land banking,’ where developers buy land in the hopes it will go up in value or become ‘upzoned’ to allow taller buildings. She said developers were required to maintain safety standards for abandoned buildings, but the regulations were ‘toothless’ and rarely enforced.”

This Post Has 88 Comments
        1. If you drop your keys in front of a realty office kick ’em down the street a bit before bending over to pick them up.

  1. ‘said many homeowners who aren’t required to purchase flood insurance choose to go without it. ‘So many homeowners have dropped flood insurance or whittled their own insurance down to the absolute minimum,’ Meyer Lucas told Business Insider. If a homeowner lives outside traditional flood zones, they may forgo specific flood protection, but still pay for wind and homeowners insurance. But when they are hit with a historic storm surge like Helene, it becomes difficult to separate what was solely water damage. ‘It basically makes the home a total loss if they don’t have flood insurance,’ Meyer Lucas said. ‘We’re going to see a lot of people needing to sell their homes because they can’t afford the remediation’

    So the shacks are damaged, they owe a sh$tload of money and they have to sell Holly? Jerry is sitting on a bunch of this paper and he’s already taking a yuuge a$$ pounding on it.

      1. Not unthinkable that large parts of Florida will revert to its original natural state — a swamp.

        The crocs and the pythons will then have the whole place to themselves.

  2. e paid $550,000 for his five-bedroom home and spent another $50,000 on solar panels and interior improvements. When he had to move back to Virginia for work, Holmes expected to sell his house quickly. But since listing it in February, he has had no luck. He dropped the price five times to $583,900 and would be happy simply to break even. ‘I can’t unload the thing,’ Holmes said. ‘In eight months, I’ve had zero offers. No one even showed up to the open houses. Nobody.’”
    Ummm, Florida is finished

    1. ‘I can’t unload the thing,’ Holmes said. ‘In eight months, I’ve had zero offers.

      Price it to sell, and it will sell, greedhead. Until then, have fun chasing the market down.

      1. No one even showed up to the open houses. Nobody.'”
        Have faith. There could a potential buyer named Milton who might be interested.

  3. “He dropped the price five times to $583,900 and would be happy simply to break even”

    I have news for ya Holmes, break even came and went. Congratulations! You’ve been schlonged!

  4. “…Californians are sidestepping the state’s acute housing shortage and soaring property prices by building cute cottages in their backyards…”

    “solve” one problem and create many more.

    In certain areas, [ Los Angeles is a good example], ADU’s are pushing the public infrastructure [some of which is now 100 years old] to the brink.

    Where do all those ADU tenants park their cars?

    What about extra trash collection, water + sewer, electric service, police protection and increases in traffic congestion?

    Does *anyone* in government think thru the consequences of their bureaucratic actions?

      1. Thanks for article post. It’s a must read.

        Just imagine coming home Friday night after an exhausting day at work and finding a beer bust / poker / dice game with the large boom box music going on in your *own* [one peaceful and private] backyard and there ain’t nothing you can do about it.

        Can anyone suggest a worst nightmare?

        These ADU laws are a legal slippery slope.

        It’s just a matter of time for those with backyards are *required by law* to build an ADU and rent it out to all comers including government vouchered homeless.

        1. With at least half of them without a permit. Was it here or somewhere else I read they estimate 70% of ADU’s in the Bay Area never pulled a permit. Which means likely no contractor, which means likely death trap.

  5. tents and junk-filled shopping carts.
    The junk filled shopping carts are slowly creeping towards my apartment. They Used to be about 3.25 miles away now down to about 2 miles away.

    1. ‘You probably need to write your name in permanent marker on your arm so that people know who you are when they get to you afterwards,’ she said.

      It never dawns on the dependent hordes that police, fire, doctors, etc., also have families living in the evacuation zone.

      1. If the Fed loses control of the debt market, it’s Game Over for its asset bubbles & Ponzi markets.

        1. “If the Fed loses control of the debt market…”

          “This is the way the world ends, not with a bang but a whimper.” —T.S. Eliot

    1. With the debt levels in this country the idea that long rates can ever go down meaningfully outside of a depression is a fact. You will never refi. And you will own nothing

  6. “Another sign that the housing market is approaching an inflection point is that institutional investors—pinched by the same climbing insurance costs—are starting to sell.

    While all housing speculator scum deserve to get their heads handed to them, the institutional investors are most deserving of being financially ruined.

  7. ‘I have no doubt that a combination of high prices, high mortgage rates and high insurance has just totally collapsed the market,’ he said.”

    Thank you for that incisive assessment, Capt. Obvious.

  8. Chris Robell, a retired tech executive, used ShopProp last year to both sell his home in Palo Alto for $2.56 million and buy a new one in Redwood City for around the same price, paying total fees of around $10,000. He estimates that he saved $120,000 in agent commissions.

    As the “cost of living crisis” bites deeper, more and more buyers and sellers are going to balk at paying extortionate, unearned realtor commissions, and will start looking for “industry disruptors.”

    1. Yep it’s only this ridiculous 20 year bull market that has allowed this 6% fleecing to go on so long. Now that people might actually have to come up with cash to pay them the fees are gonna go way down.

  9. We’re on our yearly beach vacation to Edisto Beach SC ,If we’d bought a house 30 years back ,when we started renting here , we’d have spent 250K , now it’s 2 Million for a nice beachfront ……Don’t regret it , that’s not our cup of tea,so to speak …Spending 4K ,off season, for a 6 bedroom where the owners have let maintanice slip quite a bit…, we can admire both sunrise and sunsets from here ,lifes’ too short for second or third row beach vacations……..at least for seniors….To get away from upstate SC where 20% of people are still out of power ,into the 2nd week, now….

    Colleton County SC ,a Ghetto county, with it’s high price houses in one little spot ,on this beach,,pays for about 80% of it’s school taxes, from right here, from rich people who don’t live here….
    Edisto Beach SC broke away from Charleston Co. way back in the 1920’s ,I think..they thought they wern’t getting enough county services , or something like that ……..decisions do come back to bite you ,sometimes ,and this one did ,big time …

    1. Only been there twice too far a drive, from NCharleston and Mt pleasant, when IOP and sullivans was close…had a friend with a beach store on Folly. and they lived upstairs stayed there a weekend or two a year.

    1. From Costco’s website:

      1 oz Gold Bar PAMP Suisse Lady Fortuna Veriscan (New In Assay)
      Item 1748080

      Member Only Item

      Your Price
      2,699.99$

  10. Hey globalist scum media: no Boomer is going to willingly share their house with people they don’t don’t know. The only solution to the lack of affordable housing is to rein in the Keynesian fraudsters at the central banks who have turned housing into a speculative asset bubble.

    https://www.news.com.au/finance/economy/australian-economy/new-research-calls-for-boomers-to-end-housing-crisis-by-renting-out-some-of-the-13-million-spare-rooms-across-the-country/news-story/b31476aa611f4c3a82422f979ccbef49

  11. Ever since BlackRock & other private equity bloodsuckers started buying into the crypto pump & dump, the garbage legacy media “experts” have been pimping scam digital gambling tokens to retail investor muppets. Out of altruism, I suppose. No thanks; I think I’ll convert my Yellen Bux into physical precious metals instead – the only antidote to the Fed’s fiat currency fraud.

    https://www.marketwatch.com/story/fed-rate-cuts-may-make-ether-more-attractive-after-being-left-behind-by-bitcoin-6888187b?mod=mw_latestnews

  12. A reader sent these in:

    Phoenix supply of homes for sale.

    https://x.com/JohnWake/status/1842996985139466331

    Only 17 Fed speeches this coming week cause 18 would be total overkill.

    https://x.com/NorthmanTrader/status/1842972128314065289

    Hurricane Milton is already rapidly intensifying, and is now forecast to reach major hurricane status by tomorrow morning! This has prompted tropical storm warnings along the northern coastline of the Yucatan (blue). I bet category 4 at landfall. Tampa and Fort Myers are in the cone!

    https://x.com/ReedTimmerUSA/status/1842951702657298599

    So we went from ‘quick, buy something before they cut rates’ to ‘yo, yeah, I know we’ve had 3 cuts now but I think we need to wait for more cuts and likely another year before seeing price appreciation.’

    https://x.com/ManyBeenRinsed/status/1842926100927918085

    Amazon is reportedly planning to reduce 14,000 managerial positions by early next year in a bid to save $3 billion annually, according to a Morgan Stanley report

    https://x.com/MacroEdgeRes/status/1843050854171230632

    🚫 Florida’s Biggest Insurer Cuts Over 600K Policies After Hurricane Helene

    https://x.com/dailyjobcuts/status/1843042172897247502

    This is Toronto right now. Wow.

    https://x.com/MPelletierCIO/status/1842652667900018982

    Canada literally imported every conflict in the world

    ….from the Sikh/India/Pakistan three way cluster fk

    To every middle eastern conflict.

    https://x.com/Tablesalt13/status/1842674264178077702

    This guy just closed on 330 class A units all cash raising capital from retail, but financial conditions are tight or something

    https://x.com/EllliotttB/status/1843059995136741558

    HolmesBeachPD – assisted by BPD Detective Carpenter, who is providing patrol support on Anna Maria Island today – put the cuffs on three people caught burglarizing a storm-damaged home.

    https://x.com/BradentonPD/status/1842985224105492608

    Since late August, Home Depot has put up nearly 4 million square feet of warehouse space for sublease, including a 1.3M SF Phoenix warehouse and a 1.1M SF distribution center in the Inland Empire, according to CoStar Analytics

    https://x.com/chigrl/status/1843052745638719746

    The government of Canada is now paying $4.8B per month to service its $1.3 trillion debt.

    Unemployment insurance has also almost tipped into deficit territory. ($2B/mo out, $2.4B/mo in)

    https://x.com/Tablesalt13/status/1843001859692519519

    It’s been 2 years how are these people doing?

    https://x.com/JimChuong/status/1842933189393956871

    AirBnB hosting sounds like fun

    https://x.com/FinPhilosopher/status/1843021808037224591

    This is what portions of Florida’s West Coast looks like at the moment. That stuff is going to go flying when Hurricane Milton hits 👀👀

    https://x.com/volcaholic1/status/1842964865545371956

    This is a beautiful home. Just amazing.

    It was purchased for $745,000 just a few years ago in 2021. With 20% down your monthly payment on this home would be roughly $3,159.

    Today, at $1.15M and 20% down you can enjoy this same home, but with a monthly payment of $6,587.

    The monthly cost of housing more than doubled in this case in just 3.5 years.

    https://x.com/AustinWhittRE/status/1843031167886352435

    ‼️US YOUTH UNEMPLOYMENT IS SPIKING‼️

    The unemployment rate for aged 16-24 hit 9.2% in September, the second-highest since June 2021.

    In the past economic cycles, such a jump only happened during recessions.👇

    https://x.com/GlobalMktObserv/status/1843003293028725107

    Checking in with the gig economy.

    https://x.com/SquirtLagurski/status/1843034808668377353

    Roughly 10% of the entire workforce is a “self employed” filer (which is up 17% since 2019) and is solely freelance. The gig economy as a whole represents 40% of the entire workforce, so about 47% of the gig economy are (most likely) using it to absorb the better balance effects. The services inflation which the Fed wants to cool is also the only thing supporting these people.

    https://x.com/SquirtLagurski/status/1842187806090682713

    1. AirBnB hosting sounds like fun

      Warning: from u/PoopLovingCouple on r/Coprophiles. Saw it on Twitter.

  13. They told you that medical insurance was a right. But, what about insurance for all the natural disasters that could wipe you out and renter you homeless. What about property insurance being to expensive and rising .
    As I have stated before ,the way they got people to engage in the med system was to offer cheap employer paid health insurance. Than with time the employer based insurance kept rising and Commie Obama care charged 24 thousand a year to a family of 4.
    I paid 7 bucks a month for my employer based insurance, but a 35 year old single girl I know with a good income is paying a thousand a month.

    But, the worse part is what I’m hearing is that the Med Insurance Companies are dictating to the Doctors what the treatments will be. I have a couple of friends that have top of the line med insurance that covers everything, but that doesn’t matter because the Doctors are under the dictates of the med Insurance Companies and Big Pharmacy.
    The conquences of these perverse money motive Monopolies interference with Health care is that the Doctors can’t administer health because they are employee drones for this perverse influence.

    In other words, its no longer what the Doctor thinks the best course of action is for a patient, but what these third parties dictate.
    Its not what your entitled to under the Insurance you have , it what these money motive Entities tell the Doctors you should have.
    For instance, they early release patients from the hosp to save money . They try to talk patients into going on home hospice care, rather than more expensive life saving treatments and surgeries that would extent life with quality.
    If your a older patient they are really prejudice as to care.
    They put you on a bunch of Big Pharmacy drugs, and don’t address root cause of sickness.

    So, med Insurance Companies and Big Pharmacy have Captured the Medical system . Medical Journals and rigged medical research ,CDC, NIH,FDA say Covid Vaccine are safe and effective, so get your Booster.
    Gain of function medical labs are all over the place, and the US creating bios weapons with China isn’t considered a act of treason.

    Mal practice is easy to take place under a med system like this, and thousands of people died during Covid in hospitals that were preventable deaths.
    I have friends that are battling for their lives under a system like this, that tell me about the nightmare they are going through in the system. And when what the system says has no logic whatsoever if you complain your gas-lighted.

    And with the Powers That Be are trying to take the First Amendment under the pretends of misinformation , hate speech, and its hard to Govern with free speech. The Constitution is under attack by forces that want a One World Dictorship.

    The Media has been captured by these Powers that spew out the most outrageous lies and fraud over and over.
    The horror of finding out that vaccines weren’t really tested for safety, and it was rigged.
    Currently they are trying to past a bill that lower income children will be put on the drug Ozempic and Gov will pay 1500 a month to Big Pharmacy for such intervention. Good food and exercise would be a lot cheaper than a questionable drug pushed on 12 year olds.
    So, in regards to property Insurance, look at the playbook of capture in the med system and how the Military/Industrial complex is making home ownership unaffordable by insurance.

    You will own nothing, eat bugs and be happy, as they mandate the next vaccine they want you to comply with.
    And the food supply is another issue , along with all kinds of toxins allowed by the US regulatory agencies, that were captured no doubt.

    The US health is really bad, and US had the most deaths from Covid.
    And something that was revealed by Bret Weinstein recently was that China never did take the Western MRNA vaccine. I kept trying to report on that because I was tracking China.

    So, you have China being ground zero release of Covid from a lab, and than China not touching the Western MRNA vaccine with a 10 foot pole. And China had one of the lowest death rates from Covid in spite of being highly populated.
    So, how absurd that China was touted as the model for Covid response, when they never employed the MRNA expiermental vaccine, or got the massive death and injury tolls the Western Countries did. The US didn’t follow the China model, except for the stupid lockdowns and masks, that Chinese eventually revolted against, as the cameras quickly shifted from China.
    So, some people say that the USA is already captured and occupied and its a matter of the people taking back the USA from these forces.

    And, under the pretense of global emergencies of Climate Change and Panademic, that’s a massive fraud, the Powers are doubling down on their pre planned insurrection to take over the World.

    So, the risk of purchase of a home has just gone up by what property insurance Companies will do in regards to insurance. Also what food Companies can do, what oil companies can do, what med system can do, what Monopoly powers can do to be the “market forces “that no government can stop according to John Kerry.

  14. US Yields Back at 4% for First Time Since August on Fed Rethink

    Key US Treasury yields are back at 4%, a level last seen in August, after a blowout jobs report undercut chances for another big interest-rate reduction from the Federal Reserve.

    Bonds dropped Monday, extending a plunge from late last week following surprisingly robust September payrolls data. The 10-year yield rose as much as six basis points to 4.03%, while the two-year yield was jumped as much as up ten basis points to 4.02%. The underperformance in shorter-dated Treasuries saw a key part of the yield curve briefly invert once again.

    The moves reflect swirling doubts over the Fed’s next moves. Money markets no longer see another half-point cut this year, while a quarter-point reduction in November that was once seen as certain is now priced at about an 80% probability. For the first time since Aug. 1, there are fewer than 50 basis points of cuts implied through the end of the year.

    Monday’s open interest data, which tracks positioning in the futures market, fell sharply across multiple contracts linked to the Secured Overnight Financing Rate, signaling capitulation of long positions. Meanwhile in the options market, there were a bunch of new hawkish hedges targeting just one more quarter-point rate cut for this year.

    Two-year yields briefly traded above 10-year rates for the first time since Sept. 18, reversing a trend toward normalization that had been gaining momentum over recent weeks. Historically, bond yield curves slope upward with longer notes paying higher yields, a norm that was disrupted for almost two years as the Fed hiked rates aggressively.

    European bonds followed US Treasuries lower. The German 10-year yield rose four basis points to 2.25%, the highest in over a month, while its UK equivalent rose six basis points to 4.19%.

    https://finance.yahoo.com/news/key-us-yields-near-4-074137831.html

    1. I remember when I was a mortgage broker it was hard to convince potential clients that rate cuts do not always mean lower interest rates and often can even go higher (as they are now).

      1. Reddit rant “Bank wouldn’t lock rate, can’t buy home now.” Her payment increased $200/mo with the extra +1%. She’s not getting the response she expected.

  15. Canada’s efforts to establish a green hydrogen supply chain with European countries are being delayed by a supply-demand mismatch and the largest wave of global inflation in decades, hurdles that will see it fail in its goal to export hydrogen to Germany by 2025.

    Canada and Germany first signed a memorandum of understanding to develop a transatlantic green hydrogen corridor in 2022, as Germany looked to cut its dependence on fossil fuels imported from Russia and decarbonize its heavy industries. But just months before the end of the 2024, no green hydrogen facilities in Atlantic Canada have been completed, financial terms with German companies remain elusive and infrastructure in Europe is far from ready.

    The sobering reality of the green hydrogen deal belies the challenge of balancing large-scale infrastructure investments and meagre current demand, a chicken-and-egg problem that’s common with nascent technologies – one that is delaying hydrogen timelines globally.

    German companies can’t commit to deals without pipelines, “even if there is funding,” said Stefan Kaufmann, a German member of parliament, former hydrogen commissioner and adviser to World Energy GH2.

    “In some areas, no pipelines are planned before 2040, even if the companies are willing and able to buy hydrogen and convert their plants for it,” Mr. Kaufmann said.

    “The aim is still to have the first shipments happen in the mid-2020s, probably around 2026, 2027 or 2028,” said Jens Honnen, an energy policy adviser at German consultancy Adelphi. Mr. Honnen is leading the implementation of the German-Canadian energy partnership on behalf of the German Ministry for Economic Affairs and Climate Action.

    There are about 10 promising production projects in the Atlantic provinces, but none have secured a final investment decision yet, Mr. Honnen said.

    “We’re seeing the difference between hype and reality,” Mr. Honnen said. “People are increasingly realizing that hydrogen, in the end, will not be a magic solution for every sector.”

    https://www.theglobeandmail.com/business/article-canada-germany-green-hydrogen-export/

    1. 10 promising production projects

      Transporting liquid hydrogen across the Atlantic Ocean only promises to be an economic failure.

  16. New Zealand First refuses to say if it would support buying climate action from other countries

    Climate Change Minister Simon Watts admits there is no way to meet New Zealand’s commitments under the Paris Agreement without buying overseas help.

    New Zealand’s pledge is cutting 41 percent off 2005 emissions by 2030, but is designed in such a way that the country has to make consistent emissions cuts throughout 2021-2030 – not just hit a target number in the year 2030.

    Up to two-thirds of those total savings are expected to come from making deals with other nations, for example to retire a coal fire furnace. Buying offshore help is a long-standing part of successive government’s plans to achieve their targets, going back to John Key’s government, which refused to commit to its Paris pledge until it was confirmed that countries could take advantage of buying help offshore.

    Since there is currently no way for New Zealand to meet its first commitment under the global Paris Agreement without buying overseas help, NZ First’s reticence raises questions about whether New Zealand is on track to meet its global commitments.

    New Zealand’s former lead climate negotiator Kay Harrison told the Climate Change and Business Conference last month that back in 2014, when country targets were first being negotiated, New Zealand fought to be allowed to count offshore action towards its target. This was on the basis it was cheaper and less damaging to New Zealand economy.

    New Zealand’s former lead climate negotiator Kay Harrison told the Climate Change and Business Conference last month that back in 2014, when country targets were first being negotiated, New Zealand fought to be allowed to count offshore action towards its target. This was on the basis it was cheaper and less damaging to New Zealand economy.

    Harrison said New Zealand was in danger of forgetting why it wanted overseas purchases in the first place.

    “Paris requires you to be as ambitious as you can be,” she said.

    “We genuinely displayed that ambition but we have received a lot of criticism ever since for being a country that had chosen this pathway [of buying from overseas].”

    “New Zealanders are in danger of forgetting their history, forgetting what they signed up to and are now saying, ‘Why should we pay?'”

    https://www.msn.com/en-nz/news/national/new-zealand-first-refuses-to-say-if-it-would-support-buying-climate-action-from-other-countries/ar-AA1rN1i8

    1. Climate Change Minister Simon Watts admits there is no way to meet New Zealand’s commitments under the Paris Agreement without buying overseas help.

      This is a non industrial economy and they can’t meet the Paris agreements. They’ve already exported as much carbon emissions to other countries as possible, and they still can’t do it. I guess it’s time to ban all ICE cars, including existing ones, in Kiwiland. It’s the only way to save the Earth ™

  17. Keith Wilson is running for Portland mayor on one bold idea to end homelessness. Will voters buy it?

    Eight years ago, a business-minded candidate ran for mayor of Portland and led with one audacious pledge: No one without a home would sleep outdoors in Oregon’s largest city by the end of 2018.

    Once elected, Ted Wheeler utterly failed to deliver. But that’s not shaken trucking executive Keith Wilson’s belief that he can do what the man he hopes to succeed couldn’t — in just one year’s time and with thousands more people on the streets.

    “Wheeler did me a real disservice,” said Wilson in a recent interview with The Oregonian/OregonLive. “He told us what he was going to do. But I’m going to show you.”

    Despite the confidence-undermining precedent, Portlanders may be willing to give another mayoral hopeful a shot at trying. With his dogged focus on a strategy to fix Portland’s most intractable problem and his hyper-energized efforts to connect with voters, Wilson, 60, has steadily built a base of support and emerged as one of three top candidates in the final weeks before Election Day, observers say.

    Wilson responded with disdain to the criticism that his idea is too unrealistic and won’t succeed. “The status quo got us into this mess and isn’t going to get us out,” he said. “We’re a national symbol of failed policies. We need a clean break on this one.”

    The Portland area has the seventh highest rate of unsheltered homelessness among the nation’s 50 largest metros, according to research by the Brookings Institute, a nonpartisan think tank. It is similar to, or lower than, the unsheltered rate in many other West Coast areas including San Francisco, Seattle, Los Angeles, Long Beach and Sacramento, according to that same data set.

    https://www.msn.com/en-us/news/other/keith-wilson-is-running-for-portland-mayor-on-one-bold-idea-to-end-homelessness-will-voters-buy-it/ar-AA1rMuHJ

  18. A Black Man For Trump Has One Question For Kamala Harris

    “A lot of my friends, who used to be Democrats, now support Trump,” Michael M., a Black businessman I met here in Charlotte, North Carolina, on October 1, told me, when I asked him whether polls showing that 13% of Black voters in this key state, which Kamala Harris has set her sights on, are reflecting reality. “A lot of them are waking up to the reality that the Democrats only start talking to the Black community whenever there is an election. All of a sudden, they start placating to Black people, and talk about what they want to do for Black people, and then when they get in office, none of those things that they promised actually comes to fruition. They don’t live up to what they committed they were going to do.”

    “A lot of Black people are starting to wake up. They’re starting to feel like they’re just being used,” Michael told me. “They’re being used as a pawn during election time. And so, I think that’s why you’re seeing a lot of Black people not really excited about the Democrats during this election season. You’re seeing a lot of Black people coming out and supporting Trump. You know, they can see how their life was different under Trump, as opposed to [Joe] Biden and Kamala Harris. You know, they lived better. You know, they had more jobs and more opportunities, and they’re just not into the talking points of the Democrats anymore.”

    Michael is a divorced father of three, two daughters aged 25 and 22, and an 11-year-old boy. The two girls have moved in together, while his son lives with him and spends every other weekend with his mother. Michael says that he voted for Donald Trump in 2016. He did it again in 2020 and intends to do so again this year.

    “I am going to vote for Trump,” he said. “I feel like my life was better under Trump.”

    “Can you give me an example?” I asked.

    “So, I run a business, you know, and I see how my customers are impacted. You know, we’ve had more people, more businesses that have shut down, more than we had under Trump. People are really struggling to stay in business, you know, and that directly affects me. It affects my income. It affects, you know, how much money we make as a company,” he argued.

    The former president, who won North Carolina by just 1.34 percent, or 74,481 votes, four years ago, also managed to win over Michael and his Black friends with his rhetoric about Ukraine and immigration. When Trump’s comments about illegal immigrants taking “Black jobs” and “Hispanic jobs,” during the June 27 debate with Joe Biden, sparked an uproar among Democrats and some civil rights groups, Michael said Trump was simply describing reality.

    “You see all this money going overseas, you see all this money, you see all of this support for illegal immigrants, you see many of our communities having to divert their resources to support the policies that are allowing illegal immigrants to come into the country,” Michael said, repeating misinformation from the far right that illegal immigrants receive thousands of dollars in monthly payments from the federal government. “Black people are seeing that. Immigrants are taking the jobs that they once were able to get. They’re seeing people, who are illegal immigrants, getting money, like a lot of money, when they’re struggling. You know, we’re Americans, and we can’t get this money, but you’re giving it to other people who are coming into the country illegally.”

    “I want to breathe clean air, and stuff like that,” Michael told me. “But I just don’t buy into the whole global warming thing. I just don’t buy into it, but that’s just me. I’m not saying that the Earth isn’t warming up. I think the Earth goes through cycles, you know, the Earth goes through cycles of warming and cooling. And I think right now we’re in a warming cycle, and I don’t know that we necessarily have anything to do with that as humans.”

    When I asked Michael if Trump is a threat to American democracy, as Harris and others have painted him, he smiled.

    “I can kind of understand why they may think that. The whole January 6 thing,” he responded. “But I don’t think you can base that on what happened on January 6 solely. I think you have to look at the whole totality of policies and stuff to say whether or not somebody is a threat to democracy or not. I just think that people are looking at one situation, one thing that happened, and are making a statement. It was not a good thing, but I don’t think that you can say that he’s a threat to democracy because of what happened on January 6.”

    Michael has made a 180 degree turn vis-à-vis the Democrats, for whom the Black community is an important voting bloc.

    “Fool me once shame on you, fool me twice shame on me,” Michael said about his big change of heart. “I think [there] is an awakening. I think that the hold that the Democrats had on the Black community is declining. I think that more and more Black people are seeing their communities decimated. They’re seeing crime increasing, and they’re seeing the correlation between the people that are in leadership and how their communities are doing.”

    For him, there is nothing Kamala Harris could say that would change his mind: “You’re saying you’re going to do these things, but you’re in power now. Why are you not doing these things?” he said, shrugging his shoulders about the vice president’s campaign promises.

    At the end, he said he has one question for Harris:

    “Why am I going to believe that things are going to change when you are the president?”

    https://www.msn.com/en-us/news/politics/a-black-man-for-trump-has-one-question-for-kamala-harris/ar-AA1rMOL2

      1. The Biden/Harris administration showed what their priorities are in the last 4 years for God Sakes.

        -Invasion of Borders
        -Foreign Wars
        -Mandated vaccines and threatening your job.
        -Attack on at least 50% of US Citizens for being a threat to Democracy.
        -Transgender assult on minors and taking parental rights to protect children.
        -Giving China our oil reserves
        -Cares Act filtering tax dollars to Monopoly Corporations while small business was destroyed.
        -Biden and agencies censorship of free speech.
        Pushing policies that would be a violation of Constitutional protections.
        -Law fare to attack political opposition.
        -Biden transferring power by Treaty to unelected UN/WHO to usurp Sovereign Nations and governments for Global Governance dictorship.
        -Off the chart inflation with no relief in sight.
        -A commie/facism overtake of US and other Countries by capture of Global Governments.
        – Collusion by Monopoly Corporation and Media with Biden regime.
        -Bio weapon US research and release with China with no accountability as to this partnership with a foreign rival like China.
        I could go on and on about the treasonous destructive and fraudulent policies of the Biden/Harris rein of terror . The evidence shows the 2020 election was rigged to put the One World Order Puppets in.

        ” Take a look around you, boy, its bound to scare you ,boy. And you tell me over and over and over again my, friend Ah ,you don’t believe we’re on the Eve of Destruction”
        ….Barry Mcquire

    1. +1

      And f* the DNC. There’s no wall around that plantation, people are waking up and leaving.

      1. If the sh*t show in Appalachia hasn’t opened people’s eyes to the Biden-Harris regime’s disdain for America and Americans, they’re beyond hope.

    2. “So, I run a business, you know…”

      Every once in a great while, I like to sell a batch of goodies on eBay. This go round; nothing is selling. Nothing! Just poseurs saving items to their Watch List. It’s (D)ifferent this time!

  19. Clutch those pearls harder.

    HuffPaint — After The Deluge, The Lies: Misinformation And Hoaxes About Helene Cloud The Recovery (10/5/2024):

    “The claims, according to experts and local officials dealing with disaster response, say less about the reality of the widespread damage from Helene than they do about America’s fractured politics and the fear and distrust shadowing an election year marked by assassination attempts and escalating global tension.”

    https://www.huffpost.com/entry/hurricane-helene-conspiracy-theories_n_6701be90e4b01ab3808677c7

  20. Will the illegal invaders loan me any of the Billion FEMA $ Biden, Obama, Kamala and Mayorkas gave them if my house is destroyed by the coming hurricane?

  21. Dear city of Portland Oregon, when someone from India thinks your city is disgusting and filthy, you have a SERIOUS problem.

  22. ‘Holmes expected to sell his house quickly. But since listing it in February, he has had no luck. He dropped the price five times to $583,900 and would be happy simply to break even. ‘I can’t unload the thing,’ Holmes said. ‘In eight months, I’ve had zero offers. No one even showed up to the open houses. Nobody’

    You know what’s crazy about what yer telling us Tony? Larry said just 2 or 3 months ago it was an all time high.

    ‘In certain portions of Florida’s condo market, a correction is already here. rices are plummeting at many older buildings. While units built 10 years ago or less are selling for about 9% more today than they did last year, units 30 years or older are going for 19% less than they did last year…At the Cricket Club condominium in North Miami, for example, two-bedroom units with water views that had been selling for $450,000 or more are now going for as little as $200,000 after residents were hit with a $134,000 assessment’

    It’s a good thing everybody put 60% down!

  23. Are you a savvy young investor who ditched highly volatile stocks in favor of alternative investmentss such as private equity, real estate, and crypto?

  24. ‘Gerrish says increased interest rates have helped cool down the market since the pandemic, when rates dropped significantly which sparked rapid interest in the housing trade. Further, she says the mass influx of Californians racking up the rates has died out some – a phenomenon noted by several potential buyers who said California transplants were entering a much more affordable housing market were able to outbid in Texas’

    I saw a movie just like this once Sara, years ago.

  25. ‘The problem comes, he says, when they list their home, especially if there’s a tenant in the additional unit. ‘But when they go to sell the home, it sells for way less than if they had never built the ADU,’ he wrote in a post on X. ‘You’re basically selling a single family home with someone living in the in-law unit. That’s a hard sell!’

    These people are taking out whooping big loans on these shanties. They have to set up an HOA! They have taken a schlonging from day one fer their efforts. And they did it for money, gambling with borrowed money. That may be one of the best pure mania flash in the pan housing bubbles ever.

  26. I get off the bus at SW 6th Avenue, a handsome tree-lined street at the heart of downtown Portland. The site of the notorious former open-air fentanyl market outside an abandoned shopping mall, where until last year the strong and very cheap synthetic opioid was being freely traded, is now boarded up. The streets are quiet. It’s 18 months since I’ve set foot in downtown Portland. Like many residents and tourists, it’s been easier to simply avoid than risk the chaos of what many in the last few years have called an ‘open-air asylum experiment’…Most of Chinatown still feels unsafe, with large groups loitering around charity buildings, tents and junk-filled shopping carts. The approach to the otherwise magnificent Union Station is a terrible introduction to the city for anyone using Amtrak; I witnessed a fight and a staff member at a local hotel told me they had suffered vehicle damage and violent behaviour with little help from the authorities’

    This is Bum Herding™.

  27. ‘The problem remains that housing is too [expletive] expensive!’

    That’s the spirit Ryan! Keep up the good work.

  28. ‘Ottawa’s announced changes are receiving praise from the Windsor-Essex County Association of Realtors (WECAR) for its measures targeting first-time buyers struggling to secure a home. ‘We applaud these changes because, at this moment, this is the best I think the government can do,’ said Maggie Chen, the president of WECAR. ‘We cannot crash the market. Absolutely not’

    It’s already crashed Maggie, yer igloos have taken an historic a$$ pounding with more to come.

  29. ‘Despite sitting on a record number of unsold flats, construction companies have so far been reluctant to lower their prices. ‘Construction companies hesitate to lower prices because it could impact their balance sheet values and access to new loans. They want to sell their existing inventory to be able to start new projects,’ Holappa explained’

    Yeah, yeah Veera, fast forward please.

    ‘Instead, construction companies have offered various perks, such as electric cars or free moving services, to draw buyers. These campaigns have, however, done little to boost sales. Lately, housing developers have also resorted to lowering prices’

  30. ‘Griffith University urban and environmental planning researcher Natalie Osborne said abandoned buildings in Brisbane numbered in the tens of thousands. Dr Osborne said this was often due to ‘land banking,’ where developers buy land in the hopes it will go up in value’

    You mentioning that made me realize Natalie, they don’t talk about The Shortage™ down there much anymore.

  31. The Ross Sisters – Solid Potato Salad (DVD Quality) Full Video

    utubebob100

    14 years ago

    INAPPROPRIATE COMMENTS WILL BE DELETED ###
    If you don’t know what inappropriate is, don’t bother to leave a comment!

    This is the full length scene, “From The Top”, excellent quality, please enjoy! This video has been color enhanced!

    The original movie is Broadway Rhythm (1944) additional information may be found at;

    https://www.youtube.com/watch?v=d1J3NLNWAPU

    5:13.

    From the comments:

    Perfect for a musical version of “The Exorcist.”

    Just attempted one of these moves. EMT on the way.

    My father teaches visual effects and assigns this video as required watching, because you don’t need CGI to make an insane-looking sequence.

    I was a bit confused why a song about a potato salad would have so many views. But then the madness started 2mins in

    this is without a doubt the most ostentatious display of core body strength i have ever seen

    Oh, my gosh… I was like “this is so charming and nostalgic and OH MY GAWD NOOOO YOU’RE FREAKING ME OUT!!” 🤣🤣👍🏻

    I know people out there are rolling their eyes watching this…
    But this is actually GREAT!
    These girls had more talent and coordination than an entire award show today!

  32. Kamala, Walz & AOC Agree On Mass Censorship! (Live panel show from Two Roads Theatre)

    The Jimmy Dore Show

    5 hours ago

    For those who say there are no real differences between the two parties, perhaps one key differentiation point is on free speech. Democrats, long the party of free speech, have reversed themselves and are now the most enthusiastic supporters of censorship, and that goes for Kamala Harris, Tim Walz, AOC and the rest of them.

    Live from the Two Roads Theater in Los Angeles, Jimmy and his panel of Rick Overton, Dana Eagle, Kim Iversen and Stef Zamorano discuss this remarkable about-face on first amendment issues from Democrats.

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

    13:38.

  33. October 7th.

    How many more civilians is Israel allowed to kill, before it stops?

    All of which paid for by YOU, the U.S. taxpayer.

    “Ever get the feeling you’ve been cheated?” — Johnny Rotten, at the Sex Pistols’ last live performance 1978

    1. October 7th.

      A whole year, and they still have 100 hostages. Doesn’t seem like they want peace much.

      1. “…and they still have 100 hostages.”

        After the hostages are home safely or found deceased then the real wholesale slaughter will commence.

  34. what is the fastest way to stop the killing of the civilian population of men-women and children ? I just gave you the biggest clue–both sides stop the killing. This is an EGO war and some people are just so dense they cannot see the simplest solution other than literally killing the other side is to just agree to stop the damage.

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