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I’d Say, Let’s Sell This Pig, All We’re Doing Is Throwing Money Down The Drain

A report from the Indianapolis Star. “If projections hold true, 2024 could turn out to be only the second year since the Great Recession of 2008 that builders started more than 9,000 new single-family homes in central Indiana. Homebuilders struggle to keep down costs and build houses affordable to the median buyer, said BAGI Chief Operating Officer Drake Branda, a problem he attributed mainly to soaring land costs and expensive hurdles for developing that land into neighborhoods. ‘People always talk about how affordable Indiana is, but when you look at (central Indiana),’ Branda said, ‘an average new market home starts in the $500,000s.'”

WAFB in Louisiana. “The federal reserve rate cut has caused little change to the housing market, experts said. Brandon Richoux has been a realtor in the Baton Rouge area for the past 11 years. He explained that his real estate company, Smart Move, hasn’t seen a lift in people looking to buy since the rate cut. ‘All realtors were really hoping that news of the fed rate cut would just incentivize some buyers to come to the market. In our office, we really haven’t seen it just yet,’ Richoux said. He determined that with the seasonal slow of home sales in the fall, coupled with an election, homes are easy to come by, but hard to sell. ‘We’re really experiencing a shifting market where there’s more inventory, more homes for sale then we’ve had in a long time,’ Richoux said.”

Market Place. “For Nina Katsov, a real estate agent in Chicago, it was the hours. The nights and weekends showing houses. Always being on call. She recently had a baby, and on her husband’s first Father’s Day, she had to bail on brunch for a showing. ‘It was a little bit of a heartbreak,’ she said. ‘Coming out of a really slow spring and also having taken my maternity leave over the fall winter, I really couldn’t turn business down.’ Then came new rules from the National Association of Realtors that could reduce her commission on sales. ‘It was that last nail in the coffin where I was like, ‘You know what? There’s just way too much that’s outside of my control in this job,’ Katsov said.”

“In Boulder, Colorado, Eliza Wright recently quit after more than a decade as a real estate agent. In the first two years of the pandemic, when people were clamoring for more space and interest rates were low, business was great. ‘Houses just selling themselves, people just coming out of the woodwork,’ she said. Then the Fed started raising interest rates to fight inflation, and Wright saw too many families stretching every last dollar to buy. ‘Unfortunately, it’s not affordable, and it’s hard to tell people that it is,’ she said. ‘It just felt icky to me.’ She was already disillusioned when the settlement kicked in. Now, if home sellers opted not to cover her compensation from the proceeds of the sale, she would have to ask buyers to pay her out of pocket. ‘The buyers that I’ve seen in the past year and a half, they don’t have it,’ Wright said. ‘I just felt like it was a message that I’m done for sure.’ She bought a camper van, fixed it up, and is heading out on the road for at least a year.”

KHON2 in Hawaii. “Realtors said the rising insurance rates could be a factor in the softening of the market, but there are still opportunities out there if you’re smart. Debby Yokomizo is looking for her next home and most likely, it won’t be a condo. ‘I think it’s frustrating,’ said Yokomizo. ‘Because I love the condos I love the whole concept of condo living and there’s a lot of condos that I have bypassed because of the issue of it not being lendable.’ ‘We do have a lot more condos on the market than ever before,’ said Fran Gendrano, Honolulu Board of Realtors President. ‘And that makes me wonder if it is due to rising condo association insurance costs, possibly due to deferred maintenance and/or hurricane insurance.'”

“Realtors are the first to admit the market isn’t as simple or as hot as it was a few years ago during COVID. But they also said when one person sees a challenge, another sees an opportunity. ‘I think if a buyer is going to pay a couple hundred dollars more because a building may be a little deficient in insurance, as that building is working towards getting their insurance up to par, maybe ask the seller if there can be a meeting of the minds,’ said Kay Mukaigawa, Engel & Volkers President. ‘For sellers that are thinking ‘oh my gosh I could never sell,’ I think they just have to realize they gotta be able to help the buyer.'”

From CBS News. “A growing concern in South Florida centers on the condo market, which appears to be headed over a cliff. ‘Frustrating, and ultimately, the deal ended up dying,’ shared Diana, whose grandfather recently moved from his condo in Sunrise. ‘There were just so many requirements by the mortgage company.’ The family originally listed the two-bedroom Sunrise Lakes condo for $199,000. ‘We were under some pressure to sell, and we wanted it done,’ said Diana. The family ultimately settled for $50,000 less than the original listing price after nearly six months on the market. We checked Zillow two weeks ago and found nearly 500 condos currently for sale just in Sunrise.”

“Peter Zalewski, who has studied the South Florida condo market for three decades, examined condo listings across Palm Beach, Broward, and Miami-Dade counties. He reports there is at least a nine-month supply of condos over 25 years old, with more than 16,000 available. When these condos sell, Zalewski said they go for roughly $45,000 less than the original listing price. ‘There’s a lack of confidence and urgency on behalf of the buyers,’ shared Zalewski. ‘Old buildings where people need to get out because they’re on a fixed income, and the cost to maintain it and make it viable and safe. There’s nobody to take them out. There’s no backstop. So this is a freefall, and this is where the cliff comes in. We could have buildings that are effectively zombie buildings that are just barely getting by.'”

Florida Realtors. “An aging condo on Fort Lauderdale’s barrier island ordered to evacuate because of an unsafe foundation could be among the first of a long line of condos in desperate need of long-delayed repairs, experts say. Nearly two weeks ago, unit owners at Springbrook Gardens – a former hospital turned condo building in 1947 – were told they had to be out by noon Friday after the building’s engineer determined the building was unsafe. Now some who live in the 18-unit building with a view of the Intracoastal Waterway are wondering whether they can afford what might turn into a special assessment of $55,000 or more for each individual owner. ‘I don’t want to spend any more money to fix up the building if it’s going to cost $1 million or $2 million,’ unit owner Warren Sackler told the South Florida Sun Sentinel. A retired New Yorker, Sackler owns two units at the condo and would end up paying a double assessment. ‘I’d love to sell it. And we’ve had offers to buy the building. You just have to get everyone to agree to it.'”

“But the state has sent a long overdue message to condo dwellers across Florida: Time to pay the piper. ‘I would say termites, spit and the grace of God are holding up most of these buildings,’ said Dan Kennedy, a real estate agent who lives on Hollywood beach. ‘No one wants to pay the money to fix the problems. They want to do it next year. But there’s no more next year.’ The condo units on their own are never going to sell for as much as the entire building, said Chris Williams, a Fort Lauderdale real estate agent. Some of these older units have old wiring, low ceilings. They’re hard to sell. And you’re not going to find a buyer because they don’t want to get stuck with a giant bill for repairs. The only option would be to sell the building, knock it down and build a new one.'”

“Williams knows what he’d do if he lived at Springbrook Gardens. ‘I’d say, ‘Let’s sell this pig. It’s almost 80 years old. All we’re doing is throwing money down the drain.’ Whenever you put a safety factor in there and it’s not going to get any better, the only choice is to sell it.'”

National Post on California. “As the NHL season begins, Edmonton Oilers owner Daryl Katz is unquestionably watching earnestly to see if Connor McDavid and company can bring a Stanley Cup home this season. But the pharma mogul no doubt also has a watchful eye on the sale of his historic western Los Angeles home, The Manor , a lavish 56,500-square-foot home first built by Holywood royalty that’s been sitting on the market for close to two years, as per the listing on Zillow . This April, Katz, the largely self-made billionaire , dropped the price on the 4.6-acre Beverly Hills estate to a tidy US$137.5 million. It had been listed at $155 million as of January 2023, a reduction from the original asking price of $165 million when it first appeared on the market in February 2022, only to be removed that December.”

“The Manor isn’t the only property Katz is looking to offload in L.A. According to the Los Angeles Times , in 2015 an LLC linked to Katz paid $34.5 million for a 4.6-acre property that once belonged to Canadian-American TV personality Art Linkletter. The lot, which features an unfinished mansion project, was returned to the market in July 2022 at an ask of $38.5 million and dropped to $35 million in October. The price was reduced to just under $30 million this April.”

Silicon Valley in California. “A new Bay Area poll by the Bay Area News Group and Joint Venture Silicon Valley found the tech industry is widely mistrusted, with hefty majorities of respondents believing major Silicon Valley companies wield too much power, are largely responsible for the region’s sky-high costs of housing and have lost their ability to tell right from wrong. 80% of those responding to the poll blamed Silicon Valley’s tech industry for driving up housing and living costs, and 75% said the industry had too much power and influence. Sixty-nine percent said Silicon Valley had lost its moral compass.”

“Additionally, Silicon Valley’s Next Big Thing, artificial intelligence, is broadly viewed with concern and skepticism. ‘I don’t feel comfortable about it,’ said Ladasha Wheeler, an MRI scheduler from Pittsburg. ‘We’re playing with things like we’re playing God. Sometimes I think we just need to lay off a little bit.’ ‘People have finally woken up and are saying, ‘This doesn’t feel like something that contributes to the region and my personal life.’ And it doesn’t — it mostly contributes to people who have invested, or run the companies,’ said Steve Blank, a long-time Silicon Valley startup guru at Stanford University, of the poll findings.”

“The region’s tech industry attracts ambitious people and generates substantial tax revenue for cities, but because housing prices have skyrocketed from the influx and not enough new housing has been built, companies face public ire, said survey respondent Tyler Cooper, 35, a San Francisco marketing manager. ‘We’ve created a zero-sum fight when you don’t build apartments and you don’t build homes,’ Cooper said. Cooper sees AI causing ‘a lot of risk from the misinformation.’ ‘When I try to do a Google image search, a lot of the images that come back are fake,’ Cooper said. ‘By giving you information that is inaccurate it makes you not believe the accurate information. It makes it feel like we lost something that we used to have. That makes me sad.'”

The Globe and Mail in Canada. “42 Camden St., No. 203, Toronto. Asking price: $1,398,000 (August, 2024). Previous asking prices: $1.45-million (February, 2024); $1.495-million (March, 2023). Selling price: $1.335-million (August 2024). Previous selling price: $1.38-million (June, 2021). This two-bedroom suite was listed for sale in the spring of 2023 with an asking price of nearly $1.5-million based on its premium upgrades and a 791-square-foot terrace, an attribute possessed by few other units in other buildings in the neighbourhood around Queen Street West and Spadina Avenue. The seller rejected one early offer and held its price at $1.495-million for months. ‘[As for] most unit owners listing in the last year, it’s been a tricky time,’ said listing agent Christopher Bibby.”

“With the market showing no signs of an uptick, the price was reduced to $1.45-million this year, and then again to $1.398-million. Finally, an offer came in and negotiations ended with a $1.335-million sale. ‘[The plan was,] if we hit a certain number, we’d sell. But if we were unsuccessful, we were going to rent it out,’ Mr. Bibby said. ‘This one took a little longer than we hoped, so the price change in the end is what helped facilitate the sale.'”

Arab Finance. “Egypt’s real estate market has witnessed significant growth in recent years, driven by urbanization, economic development, and government policies. While this growth has brought economic benefits, it raises concerns about the possibility of a real estate bubble. A real estate bubble occurs when property prices increase rapidly without a corresponding rise in demand. ‘This imbalance often leads to market instability and a subsequent crash when prices become unsustainable,’ Ahmed Fawzy Hussein, a Ph.D. holder and an assistant professor of economics, tells Arab Finance.”

“‘The 150% price increases of the last two years have stopped. The resale market peaked last February; however, it fell by 10% in March but has since returned to and exceeded February’s levels now,’ Youssef ElZohairy from Property Sorted says. ‘Once currency stabilized, developers realized they had overvalued their properties,’ he notes, adding, ‘Consequently, many markets extended payment plans from six or seven years to 10 years, effectively slashing prices by about 25%.’ Hussein points out that Egypt’s focus has largely been on high-end and luxury developments, which creates a mismatch between supply and demand. ‘The demand for affordable housing far outstrips that for luxury properties. This oversupply of luxury units, combined with a lack of demand, could lead to a market correction,’ Hussein suggests.”

The New Indian Express. “Time slumbers at Kumbanad, a tiny town in the Pathanamthitta district of Kerala. The streets here are quiet, the narrow lanes lined with coconut trees whose leaves rustle in the wind. A two-storeyed house comes into view – its rusting gates chained and locked, shrouded in an air of abandonment. Nearby, are several grand homes and a few single-storeyed structures: these too stand marooned in a riot of unruly vegetation, showing signs of neglect, with weeds creeping up the walls and dust settling thick on the windowsills. Some display ‘For Sale’ boards.”

“‘Today, you go to any place in Kerala, you can see houses lying locked up for months, and after a point, you don’t even recognise whose home it is. Many first-generation NRIs, particularly those who migrated to the Gulf, envisioned retiring in the homes they built with their hard-earned money, expecting their children to use the space later,’ says S Irudaya Rajan, chairperson of International Institute of Migration and Development (IIMAD.) ‘However, as children chose to stay abroad, the houses became dead money after the parents pass,’ He added. The major contributing factor is migration.”

“As Malayalis leave for jobs abroad, especially in the Middle East, the state is now dotted with over 11 lakh vacant or ‘ghost’ houses. The abandoned properties aren’t left behind by migrating Keralites, but also include homes deserted due to owners impacted by natural calamities, like floods, and now lie overtaken by marshes and creepers. According to Rajan, the first-generation NRIs considered houses as symbols of status and prosperity. ‘They built more houses than needed, driven by a desire for social status. This pursuit of social status didn’t bring anyone back – some elderly parents were taken abroad as babysitters and others moved with their children,’ he says.”

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This Post Has 144 Comments

  1. ‘in 2015 an LLC linked to Katz paid $34.5 million for a 4.6-acre property…The price was reduced to just under $30 million this April’

    All Time High Larry.

    2. The Florida INSURANCE market is finished.

      Parasite Class Pigmen will own every inch of waterfront property in the state, and the poors can commute from their Blackstone owned trailers 20 miles inland to service the Pigmen.

      1. “The Florida INSURANCE market is finished.”

        Then close your eyes and tap your heels together three times. And think to yourself, “We’re all in this together.”

        1. This sort of thing needs to be discussed after the election season. That said, choose your zip code wisely.

      3. “…will own every inch of waterfront property…”

        Small typographical correction:

        “…will own every inch of *[underwater]* waterfront property…”

      4. FWIW

        https://nitter.poast.org/KryptoTwine/status/1843507486726467998#m: I own an insurance agency in FL. I can confirm a lot don’t take legal ‘contracts’ seriously with regard to occupancy and insurer guidelines. “I’m not sure how I’ll be using this home I’m buying…which way’s more expensive?”

        https://nitter.poast.org/KryptoTwine/status/1843508302384337063#m: Yes, they’ll be able to cover this storm, as the reinsurance they purchase spread this risk and will be sufficient for this event; especially since Helene didn’t eat up much of the FL reinsurance towers for the home insurers since most losses were flood. 🫡

        1. “I can confirm a lot don’t take legal ‘contracts’ seriously with regard to occupancy and insurer guidelines.”

          Seems like the mortgage lenders will have some input here.

          2. This misrepresentation is widely known by even people on the street, but is conveniently ignored (like so many “laws”) for financial or political gains. Investors in short term rental owners are definitely high on the list of occupancy defrauders.

      5. The Pigmen plan to own all resources and dictate consumption to billions.
        The Pigmen are dangerous and are psychopaths to be sure.
        They aren’t offering anything to this earth and it’s inhabitants.
        They openly state their end goals for the Globe.
        They think nothing can stop them now.
        I think billions of people could stop them, if they really want to. Why wouldn’t they want to?
        Life would be no fun under their vision. It would just be forced tyranny and slavery and deprivation .
        And the evidence points to a depopulation agenda, that I don’t think humans would want, given the choice.

  3. “Williams knows what he’d do if he lived at Springbrook Gardens. ‘I’d say, ‘Let’s sell this pig. It’s almost 80 years old. All we’re doing is throwing money down the drain.’ Whenever you put a safety factor in there and it’s not going to get any better, the only choice is to sell it.’”

    Florida is finished

  4. “Wright saw too many families stretching every last dollar to buy.”

    If you have to stretch every last dollar to buy a home then you’re doomed before you start. It used to be you had to have 6 months in reserves to qualify. Now they they’ll put you into a home completely broke when it closes. Yeah,….thats gonna end well.

  5. “For sellers that are thinking ‘oh my gosh I could never sell,’ I think they just have to realize they gotta be able to help the buyer.’”

    Gotta love realtor speak. They’ll use a lot of words to avoid saying “Just drop the price! It’s too high.”

  6. ‘The buyers that I’ve seen in the past year and a half, they don’t have it,’ Wright said. ‘I just felt like it was a message that I’m done for sure.’

    The days of UHS being able to charge 3% commissions for transactions that could be handed for a fraction of the cost by WFH interns, real estate lawyers, etc. means the NAR’s racketeering might finally have an end date in sight.

  7. ‘For sellers that are thinking ‘oh my gosh I could never sell,’ I think they just have to realize they gotta be able to help the buyer.’”

    True price discovery is going to lay waste to condo and shack valuations artificially bid up due to 16 years of Fed QE to Infinity.

  9. So this is a freefall, and this is where the cliff comes in.

    Gosh, so this is like a Wile E. Coyote moment where the FBs look down and see nothing under their feet but empty air, and the terra firma far below they’re going to splatter on.

  10. “A new Bay Area poll by the Bay Area News Group and Joint Venture Silicon Valley found the tech industry is widely mistrusted, with hefty majorities of respondents believing major Silicon Valley companies wield too much power, are largely responsible for the region’s sky-high costs of housing and have lost their ability to tell right from wrong.

    Almost all tech companies are owned by globalist oligarchs with a pathological hatred of the Constitution and Heritage America. Creepy Orwellian Mark Zuckerberg belongs in prison for his blatant interference in the 2020 election and Stasi-like systems of surveillance, spying, and censorship directed at the users of Meta and Facebook.

    1. “Vaccine misinformation” what a f*ing joke.

      The 1 minute RFK Jr. clip posted here recently calls that out succinctly.

      Boost this, globalist sc*m social media.

  11. ‘When I try to do a Google image search, a lot of the images that come back are fake,’ Cooper said.

    Here’s an experiment for you: Google “white women in relationships” and look at the images Google presents you. The globalist agenda could not be more clear.

    2. The search results likely vary based on the current username that is logged in to both Windows and Google, e.g., your wife might see more junk showing through the trousers while her husband might see more pragmatic results.

      1. I do not have a Google account and I do fine without it.
        Neither do I have a Microsoft account.
        Also, my Windows login is a four digit number.

  15. Why is Free Speech being attacked now, with Harris/Walz in the take Free Speech camp?
    Harris/Walz are puppets for the One World Order, as Biden is.

    The global emergency Narratives are necessary for this power grab of Global Governance and the Great Reset, 4th Industrial Revolution, forced tyranny and enslavement of billions of people.
    They aren’t saving the World from Climate Change, or Panademics and they can’t take any dispute to their stupid fraudulent Narratives.
    They already censored free speech during Covid, that resulted in carnage and injury globally.

    This is a massive brainwashing operation by these fraudulent Entities to implement the 2030 UN Sustainable Earth Agenda.
    That Agenda would enslave people, you will eat bugs and own nothing, surveillance 24/7 in 15 minute cities with mandated vaccines.
    They don’t want any dispute to carbon emissions being the culprit in Climate Change. They don’t want dispute to vaccines. They don’t want you to dispute their bioweapon gain of function labs, or their countermeasures to what they create.
    The 14th Amendment prevents erasing Constitutional Protections like Free Speech,but these powers want to take any freedoms and rights insured by this Constituonal Republic.
    The USA is standing in the way of this insurrection by this pre- planned take over by these Entities.
    These Entities are the greatest threat the Globe has ever been subjected to.
    Border invasion is part of their warfare, along with every other break down of prior systems they are attacking us with.
    The medical system has totally been captured, and Science is a bought off fraud.
    Think of how absurd the claim that carbon emissions need to be eliminated. That’s almost as bad as saying air needs to be eliminate to prevent Climate Change.
    The evidence shows that they just made these Narratives up so they could bring on their One World Order global Governance power grab.
    When they meet, they said that abolishing free speech, or misinformation as they call it, is their highest priority.
    So, it’s not surprising that their shills and puppets want to take free speech under the pretense of stopping misinformation or hate speech.
    Take the vaccine, it’s safe and effective was a major med fraud. Than it morphed into you have to take 10 shots.
    What is fortunate is that compliance to taking these boosters is down to under 1.6 %.
    But, it’s not going to stop any new panademic the WHO /UN plans to declare, or the countermeasures they want to mandate.
    Lock downs and masks as a counter measure were useless, and expiermental fake Mrna vaccines were a negative countermeasure to a alleged Covid 19 panademic.
    Doesn’t matter because they are going to put this failed technology into everything they can.
    I know three people right now that are battling vaccine damage right now, and the med system kept gas lighting them. And worse, the med system keeps trying to give them more vaccines.
    Anyway, these friends were victims of the safe and effective vaccine fraud . They took five of those shots until they started getting medical problems, when they had been healthy before.CNN told them to take the safe and effective vaccine, you won’t get Covid.One of the friends has had Covid 4 times, and the other two are battling strange respiratory afflictions they can’t seem to diagnoise. ALL three friends got out of blue cancer, and all three have heart problems they never had before. And one also has blood clots.
    I get calls about what they are going thru.
    Anyway, had censorship not prevailed during Covid, my friends might of not got dupped like they did. They fell for it, and now they are paying the price for being defrauded.
    Hard to watch on my part because I think they are going to die before they would of.
    Anyway, don’t vote for Harris/Walz because they are in the take free speech camp.

    1. They aren’t saving the World from Climate Change

      But they are going to claim that “climate change” is the cause of the recent hurricanes. The demands that we surrender our cars, HVAC, travel, dietary meat, our first world standard of living, etc. as “the only way to save the world” are only to increase, and enough chumps will buy into it.

      But as Nigel Farage aptly pointed out, all we are doing is exporting our carbon emissions to other countries. All we will get in the bargain is scarcity, high prices and growing poverty.

  16. “A growing concern in South Florida centers on the condo market, which appears to be headed over a cliff.”

    Heading over a cliff into the path of an approaching hurricane…why is it again that everyone wants to live in Florida?

    1. It has to be the heat, the humidity and the bugs.

      I get that people, especially retirees, want to get away from the snow and cold, but Florida seems to be the other extreme. It’s OK for a vacation, but to live there?

        1. True, but they make it up with property taxes. Wyoming is the only no income tax state I can think of that has lowish property taxes.

      2. NYC friend who just moved there and bought a $1.72M house on Lake Roper: “Cost of living is great. Taxes are f@cking amazeballs. . . . [T]he savings pay for keeping NYC.”

  17. More evidence of inflation by the Pig men.
    In California they are going to raise the lottery from 2 dollars to 5 dollars, to start in April.

    Some head of lottery in essence said $5 is the price of a cup of coffee at Starbucks. Somebody responded by saying that at least they got a cup of coffee, with lottery they usually get nothing.

    Other poster on the article said they will stop playing if it goes up to 5 bucks.
    The Lottery Head mentioned proceeds go to Schools. You know, save the schools, but what % actually goes to schools?
    The odds of winning one of those mega lottery jackpots are so low, but people still like to play.But will they pay 5 bucks, instead of 2 bucks.

    Lottery tickets or gambling is one of the most eliminate items when you need to buy milk and food, or put some gas in the car, you would think.

    Inflation in lottery ticket price, they should of went down in price. What a World

    1. Nielsen sent me a survey yesterday with a crisp one dollar bill inside. My first impression was to ponder how many have been thrown away without opening. Then I started to think about the fact that Nielsen is well aware that that will happen and they have decided that a dollar is close enough to trash that it doesn’t matter. Sad!

      1. I don’t save my change anymore. Anything below a quarter gets tossed back on the counter. What’s the point?

        honestly the only reason I keep quarters is because of the car wash. (which now takes like $6+ worth of quarters to wash the car)

  18. Some people say that the Powers that Be know how to engineer weather, even Hurricanes.

    These people claim they can make the hurricane turn left or right or whatever. I can’t say I know the truth regarding this. But the bottom line is if they could, would they?

  19. A reader sent these in:

    By the end of the year, the Months of Supply of homes for sale in the Phoenix MLS could be the highest in a decade.

    https://x.com/JohnWake/status/1843452731077632265

    Phoenix single-family home sold price in September was almost the same as in September 2023 and September 2022. Nominal prices, not adjusted for inflation.

    ZERO upward home price momentum.

    https://x.com/JohnWake/status/1843456614524956982

    8PM EDT: This is nothing short of astronomical. I am at a loss for words to meteorologically describe you the storms small eye and intensity. 897mb pressure with 180 MPH max sustained winds and gusts 200+ MPH. This is now the 4th strongest hurricane ever recorded by pressure on this side of the world. The eye is TINY at nearly 3.8 miles wide. This hurricane is nearing the mathematical limit of what Earth’s atmosphere over this ocean water can produce.

    https://x.com/NbergWX/status/1843444771135861007

    We need this storm to weaken. Near the eye You’re talking about winds of a sustained F3 tornado, with gusts close to an F4. Even houses built under the updated Florida building may not withstand that. And thats separate from the surge. If you have been ordered to evacuate, please listen to those warnings.

    https://x.com/JaredEMoskowitz/status/1843351317399351660

    San Francisco is one of those rare cities where you see dogs step in human poop.

    https://x.com/robkhenderson/status/1842931406567338353

    Since the Fed started easing with their 50 bps cut, there’s been a lot of debate on this app about whether we will experience a soft landing or a hard landing.

    The historical data of what soft landings typically look like just isn’t what we’re seeing right now. 👇🏼

    https://x.com/MauiBoyMacro/status/1843083210542178406

    Mayorkas 3 months ago: FEMA is “tremendously prepared” for hurricane season

    Mayorkas today: FEMA is out of money and can’t make it through hurricane season. “We do not have the funds”

    Look at this. 3 months apart:

    https://x.com/gregg_re/status/1842009544379007476

    FEMA was very prepared as long as there wasn’t a Hurricane.

    https://x.com/amuse/status/1842015981012385858

    Toyota has announced it will no longer sponsor LGBTQ parades and events and will no longer make efforts to promote diversity, equity, and inclusion (DEI).

    https://x.com/LeadingReport/status/1842307782160359780

    Airbnbs for sale in Nashville.

    https://x.com/ethanflynncpa/status/1842313650390089875

    there are now more 55+yr/olds working in the US than 25- to 34-year-olds…

    https://x.com/Econimica/status/1842241772984152329

    Strategy firm McKinsey is considering upping the amount of days it expects staffers across North America to spend in the office each week as the company joins a swath of large firms looking to limit remote work

    https://x.com/MacroEdgeRes/status/1843363300756935105

    #HurricaneMilton and #Florida housing growth since 1940.

    https://x.com/StephenMStrader/status/1843282278996398432

    And just like that, the yield on the 10-year US government bond, a global benchmark, is back at 4%.

    https://x.com/elerianm/status/1843233799548874945

    *KASHKARI: NOT GOING TO SHRINK BALANCE SHEET TO PRE-COVID LEVELS

    Well… we gave it a shot. @federalreserve

    https://x.com/Geiger_Capital/status/1843358377235362313

    Child care in the US was more expensive than rent and mortgage costs in most of the country in 2023, per Bloomberg:

    https://x.com/unusual_whales/status/1843299491723821438

    WSJ Sept 19th, the day after Fed cut 50bps down to 4.75%…2007

    “The steep reduction in FFR surprised many who expected more modest rate cut. Stocks rose sharply…”

    “it could lead to higher rates if bond markets expect Fed move will spur higher economic growth or inflation”

    https://x.com/GeorgeGammon/status/1843446376887398575

    Among the 50 largest metro area housing markets, 13 have active inventory ABOVE pre-pandemic levels

    Austin, TX
    Memphis, TN
    Orlando, FL
    Tampa, FL
    San Antonio, TX
    Denver, CO
    Nashville, TN
    New Orleans, LA
    Jacksonville, FL
    Phoenix, AZ
    Dallas, TX
    Oklahoma City, OK
    San Francisco, CA

    https://x.com/ResidentialClub/status/1843435052832829716

    Let me tell you what: when an insurer gets a claim the first thing they look for is a reason to deny the claim. You better believe they’ll be checking to see if the house had ever been listed as an AirBNB.

    https://x.com/CXCarroll/status/1843458825019634105

    One Charles Center in downtown Baltimore just sold for $4.5M in an online auction

    That’s an astonishing ~$13 per SF for the ~350k sq ft building 😲

    https://x.com/TripleNetInvest/status/1843454353572802823

    Let’s check in on that “refi boom”

    https://x.com/NewsLambert/status/1843385300749562021

    China’s stock market opened up more than 10%, then the bottom fell out. 👇🏼

    https://x.com/MauiBoyMacro/status/1843474588296196314

    The Hang Seng Index experienced a near 10% drop as investors were disappointed in the much smaller-than-expected economic support measures announced by the NDRC

    https://x.com/MacroEdgeRes/status/1843490884928844206

  20. Congressman urges investigation into how ex-DC official’s job at Freddie Mac went unnoticed

    A member of Congress is asking for answers from Freddie Mac about how one of its former employees managed to simultaneously work for the mortgage giant, work as a high-ranking D.C. government official and serve on the Falls Church City Council.

    Caroline Lian was fined $25,000 in D.C. and resigned as the deputy director of the District’s Department of Buildings in August after authorities found out she secretly worked a second job at Freddie Mac.

    According to records from the D.C. Board of Ethics and Government Accountability, Lian had been working for the D.C. government since October 2022, earning $175,000 a year, but at the same time, she was earning a six-figure salary from Freddie Mac.

    Lian joined Freddie Mac in 2015 but never disclosed that to D.C.’s government, officials said. The ethics investigation found Lian telecommuted several days per week for both jobs. Lian no longer works at Freddie Mac.

    “I was horrified. Appalled to hear this story,” U.S. Rep. John Rose, a Republican from Tennessee, said via a video call with News4 Monday.

    Rose sent a letter to Freddie Mac CEO Diana Reed on Friday urging the federally sponsored company to further investigate how Lian’s other positions managed to go unnoticed.

    “Freddie Mac is obviously a federal government-sponsored entity. So it would seem that there would be government, federal jurisdiction here. We certainly want to see Freddie Mac do everything possible to sanction Ms. Lian for her fraud and potential fraud here of taxpayers. And we would like to see Freddie Mac recover the losses and potentially hold Ms. Lian accountable in criminal prosecution,” Rose said.

    Lian is the second high-ranking D.C. government official to be fined and resign after being found to work a second full-time job while on D.C. government time. In April, the head of human resources for the D.C. Public Library was fined $17,500 and also resigned.

    https://www.msn.com/en-us/news/us/congressman-urges-investigation-into-how-ex-dc-officials-job-at-freddie-mac-went-unnoticed/ar-AA1rQUPZ

    1. According to records from the D.C. Board of Ethics and Government Accountability, Lian had been working for the D.C. government since October 2022, earning $175,000 a year, but at the same time, she was earning a six-figure salary from Freddie Mac.
      This means there was no work performed in either place, and no one noticed! Welcome to government employment.

      1. exactly what I was going to say. Neither entity was displeased with her work (or lack thereof) so really what difference does it make?

        Clearly neither position needs to exist at all.

        1. It does make you wonder just how many people are collecting six figure salaries in the government for doing nothing.

    2. “Rose sent a letter to Freddie Mac CEO Diana Reed on Friday urging the federally sponsored company to further investigate how Lian’s other positions managed to go unnoticed.”

      Privatize these hillbilly housing companies. No more mortgages at 10x income. No more phony asset inflation.

  21. FEMA has money for illegals. How people are not charged with treason in this country is beyond me

      1. The Criminal Division of the Department of Justice is responsible for overseeing the prosecution of federal crimes, including treason.

          1. Globalists won’t prosecute globalists. But as we’ve seen, globalists gladly prosecute MAGA. It’s MAGA’s turn.

      2. We all know how.
        and we all know what needs to be done.

        No one, just yet, is willing to take that step.

        But my guess is it’s getting much closer.

  22. The European Central Bank should proceed with caution on further interest rate cuts given inflation had not yet been overcome, Austrian central bank Governor Robert Holzmann told the Sueddeutsche Zeitung in an interview published on Monday.

    “Inflation is on the right track. But it has not been defeated,” Holzmann was quoted as saying. “I thought the last interest rate cut was right, but that is no reason to assume that further interest rate cuts will automatically follow.”

    Holzmann was the only member of the ECB’s 26-member Governing Council to oppose its June rate cut.

    “If you look at the more important core inflation rate – where energy and food prices, which are susceptible to fluctuations, are factored out – things do not look so good,” he said.

    https://kfgo.com/2024/10/07/ecbs-holzmann-inflation-not-yet-defeated/

  23. When a hurricane like Helene rolls through a community, it leaves a trail of devastation. Tragically, Hurricane Helene did more than shut down operations for Ken Ganley Kia in New Port Richey, Florida. The big storm flooded the Florida dealership’s inventory, destroying nearly 700 vehicles.

    Ken Ganley, owner and namesake behind the Kia dealership in New Port Richey, Florida, doesn’t live in Florida. Instead, most of his dealer network is in Ohio. However, the Ken Ganley network does operate locations in West Virginia and, you guessed it, Florida. As you might imagine, Ganley was concerned about the impact of Hurricane Helene.

    In addition to the 660 new vehicles, 12 customer vehicles at the service center met a similar watery demise. After the insurance adjustors had done their evaluation, the storm destroyed 672 vehicles at the massive dealership. Moreover, the estimated value of the loss is somewhere between $28 and $30 million, per Auto News.

    Tragically, the Florida dealership is far from the only place rising waters have claimed vehicles. With communities like Asheville, North Carolina, irreparably damaged by wind and water, the car market there will be problematic moving forward. After all, flood-damaged cars conceal a multitude of issues that could plague owners in the future.

    https://www.motorbiscuit.com/ken-ganley-kia-hurricane-helene-kills-hundreds-cars/

      1. Higher interest rates have had a negative impact on auto sales, so here’s an opportunity to sell them to the insurance company, en-masse.

  24. Buyer beware: Flood-damaged vehicles from hurricane-impacted states could flood the market

    The lives lost and shattered this hurricane season has grabbed the county’s attention. When storm cleanup starts, St. Louis automotive expert Jay Grosman says problems can start for car buyers.

    “We’re really in a situation where nobody is safe here,” Jay Grosman, owner of iAutoAgent in Chesterfield, said.

    Grosman says flood-damaged vehicles will soon flood the market.

    “The vehicles, they get flooded. They clean them up really, really well. They end up at the auction,” he said. “Some dealer is going to buy them, and they’re going to end up in your driveway.”

    In 2019, mechanic Tommy Rogers showed us some of the hidden issues on flooded cars. “We actually pull the carpet up and the whole underside of the car is just full of water. Everything is rusted. Seat brackets are all rusted. Unfortunately, there was a report run on this car, it didn’t show any flood damage,” Rogers said at the time.

    Grosman also urges caution when car shopping on sites like Facebook Marketplace. “They look like private owners, but they’re really not. They’re really these small-time dealers and sometimes they’re just flipping vehicles,” Grosman said.

    https://www.msn.com/en-us/money/companies/buyer-beware-flood-damaged-vehicles-from-hurricane-impacted-states-could-flood-the-market/ar-AA1rRL9O

  25. Stellantis dealers oppose EU 2025 emission targets

    European dealers for Stellantis said they supported a proposal, launched by European auto lobby ACEA, to delay intermediate carbon emission reduction goals the European Union set for next year as market conditions do not support them.

    “We firmly believe that the CO2 reduction targets set for 2025 are unfeasible under current market conditions,” four groups representing European dealers for Stellantis said in a letter addressed to EU Commission chief Ursula von der Leyen.

    The four groups, which sell cars of brands including Peugeot, Jeep, Fiat, Alfa Romeo and Citroen, called for a postponement of the 2025 targets, which could cost automakers billions of euros in fines if not met.

    “These fines would inevitably lead to a reduction in production volumes within the EU, which in turn will drastically decrease the volumes we, as distributors, can sell,” they said in the letter seen by Reuters.

    “Stellantis’ distribution networks are experiencing significant challenges in meeting the stringent targets for EV sales, imposed by both the manufacturer and upcoming EU regulations, while market conditions do not yet support such volume growth,” the dealers’ groups said.

    They added issues such as high prices as well as an insufficient charging infrastructure were “not aligned” with the current customer needs.

    “We are in daily contact with end customers who frequently reject EVs due to concerns over price, range, and accessibility”.

    https://www.msn.com/en-gb/money/other/stellantis-dealers-oppose-eu-2025-emission-targets/ar-AA1rPJRT

  26. China is oversupplying lithium to eliminate rivals, US official says

    Chinese lithium producers are flooding the global market with the critical metal and causing a “predatory” price drop as they seek to eliminate competing projects, a senior U.S. official said on a visit to Portugal that has ample lithium reserves.

    Jose Fernandez, under secretary for economic growth, energy and the environment at the U.S. Department of State, told a briefing late on Monday that China was producing much more lithium “than the world needs today, by far”.

    “That is an intentional response by the People’s Republic of China to what we are trying to do” with the Inflation Reduction Act – the largest climate and energy investment package in U.S. history valued at over $400 billion, Fernandez said, adding: “They engage in predatory pricing… (they) lower the price until competition disappears. That is what is happening.”

    https://finance.yahoo.com/news/china-oversupplying-lithium-eliminate-rivals-102203708.html?guccounter=1

  27. BP abandons oil and gas pledge as it prepares to target Middle East

    BP has reportedly abandoned its target to cut oil and gas production by 2030 as its new chief executive scales back a switch to green energy to boost its share price.

    Murray Auchincloss, who took over from Bernard Looney in January, is expected to focus on ploughing new money into projects in the Middle East and the Gulf of Mexico to boost output.

    It marks a further withdrawal from green energy after BP reduced its pledge to cut oil and gas production from 40pc to 25pc, which would have meant it was still producing 2m barrels of oil a day at the end of the decade.

    Mr Auchincloss is under pressure from investors to boost returns amid a slump in BP’s share price, which has fallen by almost 20pc over the past year.

    The BP boss has sought to distance himself from his predecessor Mr Looney, who quit last year after claims he had lied to the company’s board over relationships with colleagues.

    Mr Looney had set out the most ambitious decarbonisation pledge across the energy sector in 2020, but these commitments have unwound since Mr Auchincloss took over.

    https://www.msn.com/en-us/money/markets/bp-abandons-oil-and-gas-pledge-as-it-prepares-to-target-middle-east/ar-AA1rOZLg

  28. Green groups angry at BP scrapping 2030 target

    BP chief executive Murray Auchincloss’s plan to scale back some of the company’s green aims has infuriated climate change campaigners

    They say the company is prioritising profits over the planet’s wellbeing by dropping a target to cut its oil output over the next five years.

    The FTSE 100 oil company introduced a goal to reduce its oil and gas output by 40% by 2030 and boost spending on renewables, but this is now being rowed back.

    Philip Evans, the Greenpeace UK senior climate campaigner, said the move was further proof that the future of the planet could not be left in the hands of fossil fuel bosses.

    “It’s clear that Auchincloss is hell-bent on prioritising company profits and shareholder wealth above all else as extreme floods and wildfires rack up billions of dollars in damages, destroying homes and lives all over the world,” he said.

    The Reclaim Finance stewardship campaigner Agathe Masson said BP was “throwing any pretence of climate action out of the window in pursuit of increased production” and urged investors to vote against directors at the next annual shareholder meeting.

    She said: “BP might be happy to see the planet burn in the name of profits, but investors must take a longer view and reject this climate-wrecking strategy.”

    https://dailybusinessgroup.co.uk/2024/10/green-groups-angry-at-bp-scrapping-2030-target/

  29. Survey shows housing prices, AI among Bay Area residents’ biggest concerns

    A new survey showing what people are concerned about in the Bay Area feature the usual suspects.

    Olivia Cornejo, like a lot of Bay Area residents, is worried about money.

    “I mean, everything’s really expensive now and uncertain, rents are really high, and food is really expensive. It’s uncertain right now,” she said.

    According to a new survey taken by the Silicon Valley Leadership Group and the Bay Area News Group, housing prices, wealth inequality, and homelessness are among people’s biggest concerns.

    “There’s this feeling that even though I’m gainfully employed, I’ll never get ahead in this region,” Russell Hancock said.

    The Silicon Valley Leadership Group CEO said the cost of living has gotten so expensive in the Bay Area, even some people with good tech jobs are worried.

    “The Bay Area has a strong, robust economy, and it’s actually a growing economy, our unemployment rate is low,” Hancock said. “But there’s a thing about the Bay Area. Expensive. The housing costs are through the roof.”

    There’s also a rising mistrust when it comes to tech. A large majority said tech companies have too much power and not enough ethics. And artificial intelligence, while creating jobs, comes under fire when it comes to the fear of spreading misinformation.

    https://www.msn.com/en-us/money/realestate/survey-shows-housing-prices-ai-among-bay-area-residents-biggest-concerns/ar-AA1rRirg

  30. A total of 13 people are running for mayor in San Francisco in 2024, including the incumbent London Breed.

    In addition to Breed, the candidates are Mark Farrell, Henry Flynn, Keith Freedman, Dylan Hirsch-Shell, Daniel Lurie, Nelson Mei, Aaron Peskin, Paul Ybarra Robertson, Ahsha Safai, Shahram Shariati, Jon Soderstrom and Ellen Lee Zhou.

    The front-runners include three supervisors and the former CEO of a nonprofit who also happens to be a Levi’s Strauss heir.

    Breed said she’s working on getting the San Francisco Police Department fully staffed in three years. She has cracked down on drug enforcement, saying drug arrests doubled in 2023 under her watch. She directed the police department to deploy bait cars and installed 400 automated license plate readers. Breed supports shutting down open-air drug markets and easing up on when police can chase suspects in their patrol cars.

    Farrell believes San Francisco streets have “disintegrated into a free-for-all of tents,” homelessness and drug abuse. He wants to clear all large tent encampments in his first year, audit homelessness spending to ensure there is no waste, increase grants to the shelter system, hire a new Department of Public Works head, and add more trash cans.

    Breed said that she wants San Francisco to be compassionate to the homeless, but she also believes in firm consequences if unhoused people don’t accept the help that’s being offered to them.

    “We are doing everything we can to make it clear to people that our expectation is that you take us up on our offer for services and if you don’t, we want to make things less comfortable for you,” she said in July.

    https://www.msn.com/en-us/news/world/2024-election-what-to-know-about-san-franciscos-mayoral-candidates/ar-AA1rQnH7

    2. In addition to Breed, the candidates are Mark Farrell, Henry Flynn, Keith Freedman, Dylan Hirsch-Shell, Daniel Lurie, Nelson Mei, Aaron Peskin, Paul Ybarra Robertson, Ahsha Safai, Shahram Shariati, Jon Soderstrom and Ellen Lee Zhou.

      Not a dime’s worth of difference between any of these Comrades of Proven Worth (D).

      1. There actually is quite a bit of difference and most of them are headed in the right directions. This is what it’s like in a one party state. I grew up in one, Texas. Every state level position was held by Democrats and had been since the war between the states. That didn’t change until the mid-80’s.

    3. “…but she also believes in firm consequences if unhoused people don’t accept the help that’s being offered to them.”

      Accepting our help is compulsory! —London Breed

  31. B.C. Conservative Leader John Rustad promised to “end tent cities” in the province Saturday while standing at a podium set up in front of a Kelowna encampment whose residents he acknowledged he had not spoken to.

    Rustad noted that he was holding his new conference in front of a place where people were living in tents and other temporary structures, referring to “what’s going on behind us” as an example when beginning his remarks.

    “We need to make sure we’ve got a clear path towards addressing this and cleaning up our streets,” he said.

    Involuntary treatment for people with “severe addictions” including “secure facilities” for people “who pose a risk to themselves or others” are among the proposals outlined by the party in a statement. The B.C. Conservatives also said they will ensure that all supportive housing units are “completely dry” and “operate under a zero-tolerance policy for drug use.”

    Rustad blamed the BC NDP and David Eby for so-called tent cities, saying harm reduction policies such as providing people with prescribed alternatives to deadly street drugs have “fuelled” people’s addictions and promoted lawlessness by “handing out free drugs and crack pipes.”

    https://bc.ctvnews.ca/b-c-conservatives-promise-to-end-tent-cities-but-legal-practical-questions-remain-1.7065037

    1. The same applies to all sorts of industries. I could see people preferring to fly on older airliners vs. new ones. I also expect airlines to go over deliveries of new jets with a very fine toothed comb. I know they always have had their mechanics inspect new deliveries, but now I would hope for an even more detailed inspection. That Alaska Air jet that had the door plug pop out was fairly new.

  33. A FEMA disaster preparedness meeting about ‘focusing efforts on LGBTQIA+’ victims has resurfaced following the agency’s response to Hurricane Helene.

    In a virtual meeting from March 2023, FEMA Emergency Management Specialist Tyler Atkins alarmingly said the agency was prioritizing LGBTQ people because they are ‘already disadvantaged.’

    ‘They already have their own things to deal with. So you add a disaster on top of that, it’s just compounding on itself,’ Atkins, who uses he/they pronouns, told the panel.

    It comes as FEMA has faced mounting backlash in the weeks since Hurricane Helene tore through the southeast and killed at least 227 people, amid allegations the agency ‘ran out of money’ after spending billions on illegal immigrants.

    In the past two years, FEMA – the Federal Emergency Management Agency – has reportedly handed out over $1 billion of taxpayer dollars to fund the housing of illegal immigrants.

    Atkins argued that LGBTQ victims should receive more support because they would have been ‘already struggling’ before a natural disaster.

    ‘That is the ‘why’ for why we’re having these discussions,’ he continued. ‘It isn’t being talked about and it isn’t being socialized – we’re not paying attention to this community.’

    He then passed the conversation to Maggie Jarry, a senior emergency management specialist at the U.S. Department of Health and Human Services.

    She claimed that rather than helping as many people as possible, FEMA should instead adopt a policy of ‘disaster equity’ that prioritizes people from minority communities.

    https://www.msn.com/en-us/news/us/fema-exec-talked-about-prioritizing-lgbtq-hurricane-victims/ar-AA1rQud6

      2. That the deep state is saying the quiet part out loud indicates that they aren’t all that worried about “losing” the elections.

  34. Vice President Kamala Harris defended her economic plan in an interview with “60 Minutes” on Monday, predicting Congress will go along with paying for her agenda, as the nominee has already called for an “opportunity economy” focused on the middle class and released plans that include lowering grocery and prescription drug prices and addressing the housing crisis.

    “I am a capitalist. I believe in free and fair markets,” Harris declared at a September event hosted by the Economic Club of Pittsburgh, pushing back against her opponent Trump’s attacks classifying Harris as a “communist.”

    https://www.msn.com/en-us/news/politics/what-to-know-about-kamala-harris-economic-agenda-as-she-claims-congress-will-pay-for-it/ar-AA1oRY2N

    1. “I am a capitalist. I believe in free and fair markets,”

      They must be getting worried. Most likely the real polls show a gap bigger than the cheating margin.

      1. Her globalist handlers are afraid of “awakening the sleeping giant” that has been dormant in the screwed-over middle and working classes. If enough people become red-pilled and withdraw the consent of the governed, the whole sham of #OurDemocracy is in danger, especially if We the People stop electing uniparty globalist stooges and start electing true representatives who will serve their constituents instead of being AIPAC and FIRE sector errand boys.

    2. Democrats adhere to an alien ideology, Marxism, which is diametrically opposed to the form of Constitutional Republican government and checks and balances bequeathed to us by the Founding Fathers. Of course Harris & her handlers know better than to openly proclaim their true ideology and agenda.

  35. Press Gasps When Press Sec. Gets Caught, but Refuses to Stop Lying

    The Rubin Report

    2:44

    Oct 7, 2024 #RubinReport #KarineJeanPierre #FEMA
    Dave Rubin of “The Rubin Report” shares a DM clip of White House Press Secretary Karine Jean-Pierre getting caught contradicting herself about the use of FEMA funds and resources to help illegal migrants during the migrant crisis when coming under fire about FEMA’s failure to effectively help victims in the aftermath of Hurricane Helene.

    https://youtu.be/VM6uBLbS_5U?si=AY_4a8cihpHcIaa3

    1,060 Comments

    @slg9752
    18 hours ago

    She’s a compulsive liar. When in doubt blame Trump.
    26 replies

    @sjmarlowgm
    19 hours ago

    If democrat says ‘Categorically False’ it means ‘Yeah, Its All True.’
    7 replies

    @mopesrus7266
    19 hours ago

    She’s just one of many dishonest people in this administration.
    9 replies

    @mojo4376
    19 hours ago

    She is a traitor and a national disgrace.
    2 replies

  37. HBB discussion item:

    Posted by CNN today

    “1,000 Florida gas stations have run out of fuel. Hurricane Milton could cause even more trouble”

    What about EV charging station status?

    Haven’t seen this topic in any of the MSM

    If you own an EV and your trying to get out of the way of Hurricane Milton where would you find an operable EV charging station along your evac route and what if have to wait in long lines for a charge that could take hours?

    1. I wonder how Orlando will fare in the storm. Will it remain a hurricane as it crosses the Florida peninsula? Wil it be a week long clean up and back to business as usual? Or something more?

      I recall the hurricane that hit Acapulco about a year ago. Even the airport was left inoperable. From what I have read the city isn’t close to recovering,

    2. If you own an EV

      It’s a golden opportunity to park it near the beach and have your insurance number handy.

    1. The job market is in the ‘Twilight Zone,’ top economist Claudia Sahm says
      Business Insider
      Jennifer Sor
      October 7, 2024 at 7:49 AM

      — The US job market is in a strange quandary, according to Claudia Sahm.

      — The September jobs report was huge, but Sahm said the labor market is still cooling.

      — Employers are waiting for more certainty about the economy and the election, the economist said.
      …
      https://www.aol.com/job-market-twilight-zone-top-144946192.html

  40. To anybody in Florida that might be in path of Hurricane, good luck to you. Hopefully you already got out of Dodge and your not stuck somewhere like I’m reading about.

  41. ‘Illiterate’ Harris Mocked as ‘Dumbest Candidate’ After 60 Minutes ‘Train Wreck’ Interview

    Wendell Husebø
    8 Oct 2024

    Political pundits mercilessly mocked Vice President Kamala Harris’s performance during a 60 Minutes interview Monday after she delivered false, incoherent, and rambling statements.

    The interview represented one of the first times she sat down for a serious, unscripted interview since joining the race, with a host that asked honest questions. Harris has not sat for many local interviews in battleground states, and she has mostly avoided the national press and conducted zero press conferences.

    During the 60-minute interview, Harris was asked how she would pay for increased spending. She responded by arguing billionaires will pay for it. Billy Binion, a reporter for Reason, slammed her answer as “economically illiterate” and Tim Young ripped her as the “dumbest candidate ever”:

    https://www.breitbart.com/2024-election/2024/10/08/illiterate-harris-mocked-as-dumbest-candidate-after-60-minutes-train-wreck-interview/

    1. I just saw some segments of Harris Interviews.

      Does anybody believe she is going to make the “Rich” pay for trillions of dollars in programs?

      Does anybody believe Harris will get Government to pay for child care, give 25 thousand down payment to buy a house, or solve the Border invasion problem.

      Does anybody believe Harris is a champion for the middle class ?
      Just suffice to say she’s a con artist, and not a very good one.

      I can’t take the voice, can’t take the refusal to answer questions, can’t take this fake shill for the One World Order.

      1. The d!psh!t doesn’t know what a tax deduction is! She thinks her administration is going to give small business $25K to start those businesses.

        1. “The d!psh!t doesn’t know what a tax deduction is!”

          I know right, her and AOC would make one hell of an economic team.

          De Blasio says Alexandria Ocasio-Cortez didn’t understand Amazon deal

          By Bruce Golding
          Published Feb. 17, 2019

          Mayor Bill de Blasio said Sunday that US Rep. Alexandria Ocasio-Cortez was wrong to have claimed the collapse of the Amazon deal would free up $3 billion to fix the city’s subways and hire more teachers.

          During an appearance on NBC’s “Meet the Press,” de Blasio agreed when host Chuck Todd said that the tax breaks offered to Amazon weren’t “money you had over here. And it was going over there.”

          “Correct,” de Blasio said.

          He added: “And that $3 billion that would go back in tax incentives was only after we were getting the jobs and getting the revenue.”

          To further drive home the point, Todd said, “There’s not $3 billion in money —”

          “If we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district ourselves, if we wanted to. We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that money, if we wanted to,” Ocasio-Cortez said at the time.

          Her remarks prompted President Trump’s son Donald Trump Jr. to tweet: “Will someone please explain to me how it is possible for NYC to SPEND a $3 Billion tax break on anything? This is insanity.”

          https://nypost.com/2019/02/17/de-blasio-says-alexandria-ocasio-cortez-didnt-understand-amazon-deal/

  42. ‘People always talk about how affordable Indiana is, but when you look at (central Indiana),’ Branda said, ‘an average new market home starts in the $500,000s’

    It is different this time. The above was not the case in the 2000’s.

    1. Homebuilders struggle to keep down costs and build houses affordable to the median buyer, said BAGI Chief Operating Officer Drake Branda, a problem he attributed mainly to soaring land costs and expensive hurdles for developing that land into neighborhoods.

      Why is land expensive in Indiana? Why does it cost so much to develop it? It all has to be artificial. Something that local governments do to inflate prices, which in turn inflates property taxes.

  43. ‘Now, if home sellers opted not to cover her compensation from the proceeds of the sale, she would have to ask buyers to pay her out of pocket. ‘The buyers that I’ve seen in the past year and a half, they don’t have it,’ Wright said. ‘I just felt like it was a message that I’m done for sure’

    We are months into this UHS settlement thing, and although there were rumblings that the GSEs would starting openly letting the commission get rolled into the loan, that apparently hasn’t happened. Previously they were rolled into the loan as I’ve described many times. IMO this is a big blow to the REIC.

  44. ‘A retired New Yorker, Sackler owns two units at the condo and would end up paying a double assessment. ‘I’d love to sell it. And we’ve had offers to buy the building. You just have to get everyone to agree to it’

    I’d like to thank Warren for providing yet another HBB Pitfalls of Commie Urban Living™.

  45. ‘When I try to do a Google image search, a lot of the images that come back are fake,’ Cooper said. ‘By giving you information that is inaccurate it makes you not believe the accurate information. It makes it feel like we lost something that we used to have’

    Remember when the internet was finally the place where anybody could have a say? The only news I want to hear about these silicon valley scum bags is that they’ve been publicly hanged.

  46. ‘[The plan was,] if we hit a certain number, we’d sell. But if we were unsuccessful, we were going to rent it out…This one took a little longer than we hoped, so the price change in the end is what helped facilitate the sale’

    So you abandoned the plan Chris and yer clients took an a$$ pounding.

  47. ‘Consequently, many markets extended payment plans from six or seven years to 10 years, effectively slashing prices by about 25%’

    Cuz the A-rabs don’t charge interest.

    ‘Hussein points out that Egypt’s focus has largely been on high-end and luxury developments, which creates a mismatch between supply and demand. ‘The demand for affordable housing far outstrips that for luxury properties. This oversupply of luxury units, combined with a lack of demand, could lead to a market correction’

    Interesting how this luxury aspect pops up in every bubble. The problem is primarily in the land.

  48. ‘Today, you go to any place in Kerala, you can see houses lying locked up for months, and after a point, you don’t even recognise whose home it is. Many first-generation NRIs, particularly those who migrated to the Gulf, envisioned retiring in the homes they built with their hard-earned money, expecting their children to use the space later…However, as children chose to stay abroad, the houses became dead money after the parents pass’

    This is classic mania speculation S Irudaya.

  50. Big Bets Leading To Massive Losses (Toronto Real Estate Market Update)

    Team Sessa Real Estate

    58 minutes ago

    In this episode we look at the current Toronto Real Estate Market specifically the detached home prices and market trends for the week ending Oct 2, 2024. We also discuss how some people are taking massive risks with trying to flip properties thinking the drop in interest rates alone will be the catalyst for prices to skyrocket.

    https://www.youtube.com/watch?v=1yFu63xOS4Y

    18:27.

  53. Did the Fed’s supersized rate cut finally validate the rate daters’ superior financial acumen?

    1. Home
      Real Estate
      Rate cuts were supposed to push mortgage rates lower. The opposite has happened.
      Matthew Fox
      Oct 8, 2024, 9:17 AM PDT
      Jerome Powell collage with tax, credit card, and housing elements
      Xinhua News Agency/Getty, Tony Cordoza/Getty, Issarawat Tattong/Getty, Tyler Le/BI

      – Fed easing hasn’t led to lower mortgage rates, with the 30-year fixed rate rising since the first rate cut.

      – Mortgage rates are closely linked to the 10-year US Treasury yield, which has also risen over the period.

      – Friday’s blockbuster jobs report reinforced these moves and extended increases.
      …
      https://www.businessinsider.com/mortgage-rate-increase-since-federal-reserve-cut-interest-rates-housing-2024-10

  54. Does the housing market seem even more out of whack now than it was just before the Great Financial Crisis of 2007?

  55. Do you worry the collapse following the Chinese stock market’s stimulus induced sugar high might suck global risk assets down the CR8R?

    2. Financial Times
      Chinese equities
      Chinese stocks tumble as Beijing tries to shore up confidence in economy
      Investors turn to finance ministry briefing on Saturday in hope of more fiscal stimulus
      A montage of the Shanghai skyline and a column chart going down
      Chinese stocks suffered their biggest one-day fall on Wednesday since February 2020 and snapped a 10-day winning streak
      © FT montage/Bloomberg
      Arjun Neil Alim in Hong Kong and Joe Leahy in Beijing 3 hours ago
      …

    1. Financial Times
      Google LLC
      US weighs Google break-up in landmark antitrust case
      Justice department could seek ‘structural remedies’ such as forced product sales after judge’s ruling of illegal monopoly in search
      Montage of Jonathan Kanter and Google chief Sundar Pichai, with the Google logo displayed in the background
      Jonathan Kanter, the top US antitrust enforcer, left, and Google chief Sundar Pichai
      © FT montage/Bloomberg

      Stefania Palma in Washington and Stephen Morris in San Francisco yesterday
      …

      1. PS If the US is doing antitrust again, shouldn’t any number of other tech and financial behemoths be running scared about now?

    1. Financial Times
      US Treasury bonds
      Treasury market volatility surges as investors rethink interest rate bets
      Bond traders brace for inflation data on Thursday after jobs figures smashed expectations
      A trader closely examines multiple computer screens displaying financial charts and data.
      Investors are expecting two quarter-point rate cuts by the end of the year © Brendan McDermid/Reuters
      Jennifer Hughes in New York and Ian Smith in London 2 hours ago

      Volatility in the $27tn US Treasury market has surged to its highest level since the start of the year, as nervy investors quickly readjust their expectations for how quickly the Federal Reserve will cut interest rates.

      Stellar jobs numbers on Friday sparked one of the biggest daily swings in bond yields this year, as investors pencilled in a slower pace of rate cuts. The 10-year yield, which had been falling since late April, jumped 0.13 percentage points on the day as prices fell, and is now trading above those levels at about 4.02 per cent.

      Investors are now bracing for potential further volatility on Thursday when US consumer price inflation data is released.
      …

    2. Finimize
      Analysis
      US Mortgage Rates Climb As Rate Cut Hopes Fade
      US Mortgage Rates Climb As Rate Cut Hopes Fade
      Finimize Newsroom
      about 2 hours ago • 1 min

      What’s going on here?

      The US 30-year mortgage rate leapt to 6.36% last week – the biggest increase in over a year – driven by climbing Treasury yields and robust economic data that dampen hopes for bold Federal Reserve rate cuts.

      What does this mean?

      A surprising 22 basis point jump in mortgage rates points to changing market expectations. With strong economic data exceeding predictions, hopes for hefty Federal Reserve rate cuts have waned. The last big increase was in July 2023, when the Fed increased interest rates to combat inflation – pushing mortgage rates up to nearly 8% by October. Although the Fed recently slashed its benchmark rate by a notable half percentage point, showing confidence in managing inflation and stabilizing jobs, the current scenario hints at a more cautious path. The 30-year mortgage rate’s rise coincides with last week’s uptick in the 10-year Treasury yield, fueled by encouraging job growth and employment data in September.

      Why should I care?
      …
      https://finimize.com/content/us-mortgage-rates-climb-as-rate-cut-hopes-fade

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