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There May Still Be Some Disconnect Between Buyers’ And Sellers’ Expectations

A report from Realtor.com. “As Hurricane Milton forms in the Gulf of Mexico, damage estimates are rolling in from tropical cyclone Helene—and the news is grim for homeowners. In Asheville, NC, and surrounding communities, French Broad River hit flood heights of more than 24 feet, shattering the previous record set more than 100 years ago, according to the U.S. Geological Survey. ‘We’re seeing entire towns essentially flooded up to the first story,’ says Jon Schneyer, director of catastrophe response for CoreLogic. ‘So we’re talking total losses on properties in entire towns.'”

Wall Street Journal. “Hurricane Milton is on a projected path that would inflict a direct strike on Florida’s Tampa Bay, a densely populated and fast-growing area that is one of the most vulnerable in the U.S. to coastal flooding. Tampa Bay is still reeling from Helene, which triggered more than 6 feet of storm surge along its coastline. David Zigler’s home in St. Petersburg took on several feet of water just over a week ago. He said he hasn’t been able to tear out the soggy drywall because of a shortage of workers.”

“Zigler’s insurance adjuster was scheduled to tour his home on Thursday, he said, but with Milton slated to make landfall on Wednesday night, he will have to wait. Once he gets an insurance payout, he said he plans to use the cash to pay off his mortgage and sell the property for land value. ‘I’m probably going to get canceled after this claim,’ said Zigler, who had a $52,000 claim for another flood last year. ‘Every year it’s the same thing, and it’s only getting worse.'”

US News & World Report. “A September report from online real estate firm Redfin noted that housing turnover was just 2.5% of all homes this year , the lowest rate in 30 years and 37 % less than in 2021. But there were wide geographical differences, with a rate of 1.5% in California and 3.8% in Phoenix, although that was down 43% from 2019 levels. ‘What this data tells us is that the housing market in 2024 has been really frozen,’ said Chen Zhao, senior economics manager at Redfin.”

Sillicon Valley in California. “The owner of a San Jose housing tower that is mired in a thicket of lawsuits and legal complaints is now attempting to rent, rather than sell, the units in the highrise. The residential building at 188 West St. James Street in downtown San Jose is one of two highrises in a double-tower housing complex developed by an entity operating as FPP MB. FPP is an affiliate of China-based real estate firm Z&L Properties. By July 2023, the sales of the condos came to a halt, public documents on file with a Santa Clara County court and the County Recorder’s Office show. Since July 2023, no recorded condo sales have been on file with the county property transactions office. Now, the owner’s strategy is to find tenants to rent the approximately 200 remaining units in the western tower. Two months of free rent are being offered to entice people to lease units.”

“Rental rates range from $8,333 to $10,000 a month, according to the Apartments.com website. However, Tripalink states that some units are being offered for up to $12,000 a month. The Tripalink site does note that the $10,000 a month is for a three-bedroom, 2.5-bath unit and that the effective rent per person would be $3,333 a month. All of this is happening at a time when FPP MB, the property owner, is entangled in a web of lawsuits tied to the western tower of the St. James complex. The litigation is far from settled. As many as nine hearings, stretching into the spring of 2025, are scheduled in the case. Another point of legal conflict involves claims by some homeowners that living conditions in the western tower are ‘dangerous’ in some instances, according to a legal filing. The alleged examples include a lack of hot water, heat and air conditioning, along with thefts and poor security, court papers state.”

The Los Angeles Times in California. “L.A. County’s Board of Supervisors took its first major step Tuesday toward buying Gas Company Tower, one of the most prominent office skyscrapers in downtown Los Angeles. The proposed price is a deep discount from the building’s appraised value of $632 million in 2020, underscoring how much downtown office values have fallen in recent years. After selling last year for $110 million, Union Bank Plaza on Figueroa Street sold again recently for just $80 million, or $114 per square foot, according to real estate data provider CoStar. Another downtown high-rise tower at 777 S. Figueroa St. recently sold for $120 million, or $115 per square foot. At $200 million, the county would get the Gas Company Tower for about $137 a square foot, still a bargain by historical standards.”

“‘All these prices are a massive discount from only three years ago, when 915 Wilshire Blvd. traded for over $500 a foot,’ said real estate broker Kevin Shannon of Newmark, who helped arrange the Union Bank Plaza sale to the Southwest Carpenters Pension Trust. ‘The world has changed.'”

KDVR in Colorado. “Dozens of people living in the Arlington Meadows neighborhood in Arvada protested outside of the city of Arvada building ahead of a city council meeting. This comes after they learned about a month ago the city was considering placing a navigation center in the old Early College of Arvada building, which is now vacant. The city said the navigation center would give people experiencing homelessness a hand up, rather than a handout while providing them with tools they need to get back on their feet. But residents said there are already holes in this plan. Lily Allish said she recently bought a home that shares a fence with the vacant building.”

“‘It has already brought a homeless individual right up to my fence, claiming that he’s going to be waiting there until he receives housing,’ Allish said. As a young woman working from home whose partner is gone most of the day, she said she would feel unsafe if this would bring more unhoused individuals around. ‘I’m home alone for 24, sometimes 48 hours at a time. And it’s concerning, they’re wanting to bring homeless people right behind the house,’ Allish said. ‘They’re not taking in any ideas from other people and saying, ‘You know, that’s a great idea. Let’s look into potentially making this into a recreation center. Let’s look into maybe making this into a library or an education center.’ They’re just saying, ‘Well, we’re going to keep pushing forward this navigation center idea,’ said Karen Deaguero, who also lives in the neighborhood.”

Politico on Oregon. “Few American cities faced as much chaos as Portland over the last four years. This proudly liberal city has endured more than 100 days of often-violent protests, a fentanyl and homelessness crisis, a pandemic — and, in arguably the nation’s boldest progressive policy experiment in recent history — decriminalization of all drugs. This November, Portland is undertaking one more chaotic act. In a sign of either hope or desperation, Rose City voters decided to throw out their entire government structure and replace it with a weaker mayor, expanded City Council and ranked choice voting.”

“Mother’s Bar and Bistro has been feeding Portlanders for more than 25 years. But owner and executive chef Lisa Schroeder says her once-profitable business is almost out of money because the workers and tourists who once flooded downtown have not returned. ‘We’re losing money every day,’ Schroeder said, projecting that the restaurant’s revenue this year will be less than half what it was before the pandemic. ‘If you look down the street at nine o’clock on a Friday — I have video — it is empty,’ she said. ‘You’d think they were filming a movie.'”

“Rep. Earl Blumenauer, a retiring Democrat congressman who has represented parts of Portland since 1996 and before that served on both the Multnomah County Commission and the City Council, said parts of downtown look ‘like Dresden in World War II.’ ‘I’ve spent 54 years trying to make Portland the most livable city in the country or in the world,’ said Blumenauer, his voice cracking, in a mid-September interview as he prepared to pack up his Capitol Hill office. ‘No one’s going to describe it like that now.'”

The Globe and Mail in Canada. “The Toronto office of Romspen Investment Corp. has been searched by Quebec’s tax agency during an investigation into one of the private mortgage lender’s borrowers. Revenu Québec collects taxes in its home province and serves as a watchdog for taxation matters to make sure people and companies pay what they owe. Romspen is a private mortgage lender that raises cash from individual investors, then lends it out to real estate companies, often in the form of short-term construction loans. The mortgage lender has faced challenges over the past two years, when the market for real estate development froze as interest rates rose and many companies filed for creditor protection.”

“Romspen halted all investor redemptions in November, 2022, citing some trouble with loan repayments. At the time, the lender had $3.2-billion in assets under management. In the years since, Romspen has cut its monthly distribution multiple times, meaning investors remain trapped in the fund and now earn much less yield. While Revenu Québec could not comment on specifics, it has been probing a set of real estate development companies set up by the Basal family in Montreal for a few years – and the family had borrowed money from Romspen. Quebecor Media’s Journal de Montréal reported in January, 2023, on the financial troubles of real estate developer Ronen Basal, who was behind a dozen major apartment rental complexes in the greater Montreal area. The newspaper said his businesses owed Revenu Québec more than $30-million in unpaid taxes. The Journal reported that it interviewed Mr. Basal, who said he had done nothing wrong. He told the newspaper that his main lender, Romspen, had for all practical purposes seized control of his businesses after his problems began.”

Kelowna Now in Canada. “Sluggish, slack, listless, inactive, quiet, slow or lethargic. Use whatever word you like to describe Kelowna’s lacklustre housing market. Sales are way down from post-COVID 2021 and 2022 when people went on a buying frenzy to get what they wanted where they wanted and forcing prices up to record levels. For single-family that was $1,131,800 in April 2022, for a townhouse $829,000 in May 2022 and a condo $557,700 in April 2022. In September, the benchmark selling price of a typical single-family home in the Central Okanagan was $1,018,000. Last month, the benchmark for a typical townhouse was $725,200.For a typical condo, last month’s benchmark was $505,600.”

“‘There may still be some disconnect between buyers’ and sellers’ expectations,’ said Kaytee Sharun, president of the 2,600-member association. ‘Sellers (are) potentially holding out for a higher payoff while buyers are continuing to take a more cautious approach, which could potentially be contributing to slower decision-making.'”

Cornwall Live in the UK. “There are growing concerns in Truro and across the county about the future of the £160 million Pydar development in the city, which would see 300 new homes, space for 400 students. Many of the buildings on the site have been demolished at a cost of millions with no sign of construction starting, leaving an eyesore within the shadow of Truro Cathedral. Last week, Perranporth councillor Steve Arthur said: ‘We’ve got too many balls in the air. We’ve got Langarth [the £159m garden village development on the outskirts of Truro]. We’ve got Pydar, which we’ve just chucked another £10m at and it’s still a bomb site.’ Cllr Arthur – who resigned from the Tory group last year – added: ‘The poor old airport is getting kicked in the goolies because it’s the fall guy. If we hadn’t made those political choices and bit off more than we could chew, we wouldn’t be so desperate to get rid of the airport.'”

ABC News in Australia. “The boss of an embattled Perth building company has assured hundreds of customers their unfinished homes would be completed with the help of ‘divine intervention.’ About 200 Nicheliving customers, some of whom signed contracts dating back to 2019, are still waiting for their homes to be finished. Company director Ronnie Michel-Elhaj has now said a ‘higher power’ would help get customers into their homes, but would not provide a timeline on when the works would be completed. ‘We’ve been very fortunate. I think I call it divine intervention, right? So I’m a Christian person, and I like to see that there is God assisting the company and our team,’ he told Nine News.”

“Nicheliving customer Kathy Ellis said the comments were of little consolation to her and others with unfinished homes. ‘Obviously Ronnie and I have different gods we pray to, because my God would never allow someone to treat other humans like this,’ she told ABC Radio Perth. Ms Ellis has been living in a campervan with her two children for 20 months. She said she no longer trusts the company. ‘I’ve been fed so many lies over the past four years, even if they wrote to me now, I wouldn’t believe what they tell me,’ Ms Ellis said.”

South China Morning Post. “On Monday, the Lands Department said that in the third quarter, it had approved presale consent for three projects – in Tai Po, Sai Kung and Ap Lei Chau – consisting of 213 units. The developers are Manhattan Realty, Chinachem Group and Tai Cheung Properties. Developers in the city have been selling units in new residential projects at a discount in an effort to offload their reservoir of unsold flats. In the next three to four years, as many as 109,000 new flats are expected to come on the market, according to the housing bureau. A supply glut is one factor keeping home prices in check. The other is high interest rates, which impact the mortgage rates of homebuyers.”

“The number of presale consent approvals in the third quarter was ‘relatively small,’ said Derek Chan, the head of research at Ricacorp Properties. ‘It is believed that following the recent improvement in market sentiment, [the number of new flats] can be gradually absorbed,’ Chan said. ‘The recent acceleration in market sales is expected to help reduce the accumulation of unsold inventory.'”

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This Post Has 142 Comments

    1. Realtors are liars. Good parenting begins with training your children to throw rocks at any UHS caught skulking around your neighborhood.

  2. ‘The owner of a San Jose housing tower that is mired in a thicket of lawsuits and legal complaints is now attempting to rent, rather than sell, the units in the highrise’

    Today’s installment of HBB Pitfalls of Commie Urban Living™. They can pull a switch and yer living with bitter renters!

    1. It’s actually worse than that:

      ‘Another point of legal conflict involves claims by some homeowners that living conditions in the western tower are ‘dangerous’ in some instances, according to a legal filing. The alleged examples include a lack of hot water, heat and air conditioning, along with thefts and poor security’

      So if you were one of the winnahs! that snapped up one of these airboxes, most of the units didn’t sell. Condo fees didn’t get paid and now yer taking cold baths with no heat and yer door dash is getting stolen by bums.

  3. “‘All these prices are a massive discount from only three years ago, when 915 Wilshire Blvd. traded for over $500 a foot,’
    Based on the sales listed above the average sale price was, give or take, about $125/sq ft. Down about 75%. That’s gonna leave a hole in the city budget.
    Chicago currently forecasts a $982 MM deficit for 2025. Ouch!
    Wonder how bad the property owners in Chicago and maybe even Cook county are gonna get gored.

  4. ‘What this data tells us is that the housing market in 2024 has been really frozen,’ said Chen Zhao, senior economics manager at Redfin.”

    What the data tells me is that greedhead sellers are clinging to their delusional 2022 wish prices, and tapped-out would-be buyers are recognizing that the downside risk greatly outweighs any upside potential in the RE market, regardless of what the REIC touts & shills in the garbage legacy media are saying.

  5. —
    “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…‘I’d say, ‘Let’s sell this pig. ”
    —

    I’m sorry I missed this post from yesterday. Good ol’ Srpingbrook Gardens. Was this building built in 1947, or converted in 1947? It could be older than 80 years. And wow, only 18 units to support millions in repairs. Yeah, I’d sell the pig too.. and promptly demolish it. Looking at the map, there really might be enough land for a newer condo building, if they build with zero-lot-line.

    2. I’m sorry I missed this post from yesterday. Good ol’ Srpingbrook Gardens. Was this building built in 1947, or converted in 1947?

      Built in 1947, the project was converted from a rental building to a condo in April 1978

  6. The Tripalink site does note that the $10,000 a month is for a three-bedroom, 2.5-bath unit and that the effective rent per person would be $3,333 a month.

    The disconnect between what these greedy, delusional real estate investors & private equity locusts are asking for their skyboxes & shacks as they try to gouge renters, and what tapped-out debt donkeys are willing and able to pay in #BidensEconomy, is only widening. Maybe once developments like this go under the auctioneer’s hammer, true market value will be reset and rents will reflect current market realities.

  7. “..Zigler’s insurance adjuster was scheduled to tour his home on Thursday, he said, but with Milton slated to make landfall on Wednesday night, he will have to wait. Once he gets an insurance payout, he said he plans to use the cash to pay off his mortgage and sell the property for land value…”

    Here’s how Zigler’s For Sale ad might look like:

    Quaint cottage with potential for upside and [mostly] downside.
    Selling for swamp land value.
    Note to Realtors:
    If showing property, please be mindful of gators and pythons.
    (Friendly if not provoked)

  8. In the years since, Romspen has cut its monthly distribution multiple times, meaning investors remain trapped in the fund and now earn much less yield.

    That moment when the cockroaches realize there’s no way out of that welcoming roach motel.

  10. Ms Ellis has been living in a campervan with her two children for 20 months. She said she no longer trusts the company. ‘I’ve been fed so many lies over the past four years, even if they wrote to me now, I wouldn’t believe what they tell me,’ Ms Ellis said.”

    As Housing Bubble Bust 2.0 plays out, I suspect millions of stupid, gullible sheeple who bought into the lies they were fed by MSM “experts,” the REIC industry, and the globalist scum media are going to be permanently inoculated against misplaced trust in such liars.

    1. are going to be permanently inoculated against misplaced trust in such liars

      As Ben Franking once said fools learn only the hard way, to which I will add: and many won’t learn that way. Once they recover they will make the same mistakes all over again: debt, poor spousal choices, get rich quick schemes, etc.

      1. From the article:

        “Home prices continued to decrease toward the end of the summer as sales hit historic lows in what was the slowest August on record for San Diego County.”

      2. “Look, home prices are rising but not rising very rapidly. Incomes are rising faster. Interest rates are drifting down slowly. That says in a couple of years things will get back to something resembling a normal equilibrium,” Thornberg said. “Will things ever be as cheap as they were in 2018? No, there’s no way.”

    2. In Colorado’s Front Range, sellers are clinging to their delusional wish prices, although developers are starting to get slightly more serious with discounts as newbuild houses & duplexes sit unsold and inventory keeps rising. The “it’s different here” mantra of local UHS is starting to ring hollow, as sales are still slumping with no end in sight and at least 30% of “homeowners” underwater on their shacks.

  14. I know a couple of people in pathway of Florida Hurricane.

    I’m just starting to get my head around the concept of the Gov. using weather modification as a weapon of warfare.

    Climate Change figures into their Great Narratives. All over the World they are spraying something into the sky.
    Could they be this evil as to try to make a Hurricane a deliberate weapon of genocide and mass destruction?

    Well, they created gain of function bio_weapon pathogens.
    They are invading Borders all over the World with migrants and illegals that are hostile to Citizens.
    They are escalating World Wars.
    They are escalating high crime .
    They are looting tax dollars to fund as many assaults on USA as possible, and money filtered to Monopoly Corporations.
    They are openly trying to take the first and second amendments.
    They had a Covid Panademic, with counter measures that defied Science and they threatened your job if you didn’t take a expermental fake vaccine.They destroyed small business.
    Inflation is creating survival stress for high % of population.

    So, why would it be out of the question that they have the technology to alter a Hurricane?They created the floods in Dubi.

    But, wouldn’t that imply that the US Military had been infiltrated and captured by treasonous forces , not to mention the treasonous Politicans.
    Some people say the US has already been captured and we are already occupied .

    When I first started posting again on this blog, before Covid hit, I couldn’t get it out of my mind that Movie “7 Days In May”.
    The Movie was about the take over of US by internal forces, the Miltary, and a group of treasonous Politicans.
    Also, mass brainwashing by movements outlined in that famous book “TRUE BELIEVER. ”
    So, Covid hit, and now snarly Hurricanes that make weird turns, etc, a month before elections.
    Bill Gates wants to block out sun, and they have these weird machines that suck up carbon.
    There is constant attempts to divide people , like I have never seen before.
    The MSM has been captured, and fake news is standard practice.
    How can you have so many outright destructive things happening at the same time?
    It hard to get ones head around the fact that humanity might be under a major assault by Entities that pre- planned this to force a 1984 type of existence, with genocide being part of the agenda.
    Something very insane is happening.

    1. I have two relatives (in separate households) who live in the Tampa area. They both are already hundreds of miles north as I type this.

      1. During Katrina, evacuation routes were snarled by idiots who set off with near-empty gas tanks, then ran out of gas and blocked lanes until their abandoned cars could be pushed out of the way. I expect we’ll see more of the same this time around.

        2. You have to remember Katrina hit at the end of the month. Lots of people ran out of money and probably gas too.

      2. I own a small 3/2 home in Venice but it is 2 miles inland. Still predicted 85-90 mph gust in early morning hours. My daughter has a house in the same neighborhood and my former wife (her Mother) also has a house there. All three are similar size and floor plan. I paid for a complete remodel of my daughter’s house in the past year to year and a half, including a complete pool retrofit with new equipment and refinishing. My daughter is single with two little ones.
        We have just completed a contract 3 weeks ago to replace the older pool enclosure, with work date out about 4-5 months. I guess removal of the old one will be accomplished tomorrow morning.
        Her Mother is on leaf watching vacation to Maine and New Hampshire. My daughter with kids evacuated to north Georgia with her boyfriend and some close friends. The boyfriend has relatives there.
        I evacuated back to my still owned home in Winter Garden but I will still see some high wind gusts there. Oh well, *** happens.
        I can afford to recover on whatever basis is necessary, but my heart goes out to those families that will be homeless due to finances. This looks to be the big one for central and west coast Florida.

          2. best of luck to ya’ Hi-Z!
            and you also, Palmetto, ya’ ol’ He-Coon, if yer still reading this site.

          1. Immaculate Conception
            /iˌmakyələt kənˈsepSHən/
            noun
            the doctrine that God preserved the Virgin Mary from the taint of original sin from the moment she was conceived

        3. “I evacuated…”

          Family member wisely evacuated from Homestead before Andrew swept through. Lost everything.

    2. I hope you copied this and you are laughing at how ridiculous it is. I helped out some up in Asheville so I’ve been on social media a lot. A certain part of this country has gone full retard.

    3. I’m just starting to get my head around the concept of the Gov. using weather modification as a weapon of warfare.

      Don’t waste your time. If we could do that, Russia and China would be pummeled around the clock.

      1. Colorado,
        I got another Friend who has had non stop home robberies in previous good neighborhood.Friend spent thousands beefing up security.
        I’m just witnessing so many people I know being under assult in one way or another.

        1. Burglaries in my little burg are still lowish, likely because of the “make my day” law. Knowing that he might end up staring at the wrong end of a shotgun can be quite the disincentive for most burglars.

      2. Russia and China

        Are we allowed in their airspace? Y’all need to watch the 2 videos I posted yesterday. Our government has been engaged in weather modification since at least 1947, officially beginning with Project Cirrus.

    4. “Could they be this evil as to try to make a Hurricane a deliberate weapon of genocide and mass destruction?”

      If that is even possible, and if the result is the further consolidation of wealth and power in the hands of the Parasite Class, then the answer is yes.

    5. If the Gov can manipulate the weather, then why didn’t they send some rain to put out (or prevent) the wildfires in California? Or heck, just water the lettuce?

      1. Oxide,
        You are assuming the Gov. wants to do good things like put out fires.
        As with all technology , it is how it is used.

        1. assuming the Gov. wants to do good things

          The biggest cognitive hurdle.

          We no longer have a government by, and for, the people. It’s been infiltrated by Marxist Globalists (Ds and RINOs), who need only 4 more years to complete their destruction of Our Republic.

          JFK | Secret Societies Speech | Long Version (19m43s)

          1. 🙁 Normalcy bias (at the absolute least.) I used to argue about this with my family all the time.

    1. “It’s different this time.”

      – 🙂
      – Buying at these valuations says that an investor will lose money over the full market cycle. Buy high, sell low.

      https://www.hussmanfunds.com/comment/mc240923/
      Asking a Better Question
      John P. Hussman, Ph.D.
      President, Hussman Investment Trust
      September 2024

      – Selected excerpts:

      “MarketCap/GVA is the ratio of the market capitalization of nonfinancial companies to gross value-added, including our estimate of foreign revenues, and is our most reliable gauge of market valuation (based on 2/21 correlation with actual, subsequent 10-12 year S&P 500 total returns in market cycles across history). The current level of 3.3 is the highest extreme in history, eclipsing both the 1929 and 2000 bubble peaks.”

      “I continue to view period since January 2022 as the extended top formation of the third great speculative [stock market] bubble in U.S. financial history.”

      “Still, it’s useful to remember how this ends. Jeremy Grantham’s work, like ours, is informed by the study of countless bubbles across history. They always end in exuberance: “Everyone feels great, and that’s how you get to a market peak. You feel great about everything. Of course, almost by definition. When do you start going down? You still feel great. You just don’t feel quite as great as you felt the day before.””

      “…investors have become convinced that it is enough to buy and hold stocks with no thought about price, valuation, or the relationship between market conditions and market outcomes.”

      – Add to the stonk market bubble , another housing bubble (2.0):

      https://rubino.substack.com/p/watch-the-housing-bust-play-out-in
      Watch the Housing Bust Play Out in Real-Time
      John Rubino | Sep 23, 2024

      “Most asset classes have their own unique, repeating cycles. For housing, it usually looks like this:”

      “Demand for homes rises faster than sales, causing prices to increase. Seeing this, would-be sellers hold off to see how much more they can get a year or two hence. Would-be buyers note the rising prices and shrinking supply and succumb to fear of missing out (FOMO), accepting and then pre-emptively topping asking prices (which become the basis for negotiating upward rather than downward). Bidding wars become common.”

      “As prices spike, houses become “unaffordable” — defined as the average person being unable to afford anything remotely like the average house. We entered this territory in 2022 and went deeper into it this year.”

      “Buyers, now mathematically unable to buy, stop trying. Sellers, unwilling to sell for less than the price someone recently told them their house was worth, delay listing their property in the hope that the frenzy will resume. The number of sales plummets. We are now there:”

      “Enter the Bust
      With home prices at record highs and very few actual sales taking place, a growing number of would-be sellers decide to list their properties at current prices, causing the number of houses on the market to rise, both in nominal terms and when compared to the volume of signed deals. The “months of supply” on the market starts to rise.”

      “But sales don’t go up because houses at current prices remain unaffordable. Watching their properties languish with no offers and few visits, sellers start to cut prices. By July of 2024, this became a discernable trend:”

      “Now For the Great Re-Pricing”

      “To bring this kind of out-of-balance market into equilibrium, one of two things has to happen: Incomes have to rise dramatically, or prices have to fall by at least 20%. The first—higher incomes—is almost inconceivable given record levels of consumer debt and the approaching recession. The second is easier to envision and achieve: Sellers just have to start accepting what the market can offer.”

      “With houses more overvalued relative to incomes than ever before, price declines at least as dramatic as last time around are possible. And sooner rather than later.”

      – So, a stonk market bubble + housing bubble (2.0) + most other asset class bubbles; all at about the same time. This to include corporate bonds, autos, CRE. Don’t forget the general price inflation along with the aforementioned asset price inflation. The Fed’s mastery of the economy is clearly there for all to see. Just like The Emperor’s New Clothes. 😂 I’m sure this is fine; at least until after the election.

      – For those HBB readers in the path of hurricane Milton: Stay safe!

      1. nice summary, banana republican.

        btw, I missed the part where all the MILF’s flood Only Fans to make those Telluride payments.
        so, uhh, at what point in the economic cycle does one subscribe to said platform for optimum viewing of all those former Realtors ?!

        asking for a friend.

  16. A reader sent these in:

    Checking in with the largest growing workforce.

    https://x.com/SquirtLagurski/status/1843772489379532850

    Air travel demand finally starting to wane.

    https://x.com/DonMiami3/status/1843819035571695785

    Police in Gulfport, Florida are driving around playing a recording that tells people to evacuate ahead of Hurricane Milton.
    All the debris you see is still here from Hurricane Helene.

    https://x.com/BrianEntin/status/1843725123247112360

    BlackRock CEO Larry Fink said the market is pricing too many rate cuts from the Fed and DOES NOT think there will be a ‘HARD LANDING:’

    Here’s what he said:

    “Market is WRONG to bet on so many rate cuts…

    I don’t see any landing…

    We’re not going to have a hard landing. But I don’t see a soft landing…

    There are segments of the economy that are struggling [and] there are segments of the economy that are doing really well…

    Look at corporate earnings overall. They’ve been very strong and I think they’re going to continue to be very strong…

    I don’t see any landing. The amount of easing that’s in the forward curve is crazy…

    I do believe there’s room for easing more, but not as much as the forward curve would indicate…

    It’s hard for me to see another 200bps of decline in short rates.”

    https://x.com/TripleNetInvest/status/1843814504473534496

    The national debt is reaching the point where it will significantly impact future generations–but it doesn’t even come up in the presidential campaign.

    U.S. deficit hits $1.8 trillion as interest costs rise

    https://x.com/KenDilanianNBC/status/1843748274437796067

    Viewer Mohammed Nijem is getting prepped for Hurricane Milton.

    https://x.com/MyNews13/status/1843743223937704195

    2.5% of homes in the US changed hands this year in the first eight months, the lowest turnover rate in at least 30 years, according an analysis by Redfin.

    https://x.com/unusual_whales/status/1843661879907938633

    Email from Geico …warning EV owners are about to get fooked

    https://x.com/chigrl/status/1843762444260499852

    West Coast tech hubs SF and Seattle are the “tipping point” metros where inventory is right back where it was on the eve of the pandemic.

    Where is it above 2019? Mostly pandemic migration magnets where the pendulum has now swung the other way.

    https://x.com/Jeff_Tucke/status/1843719503622164645

    Over the past month.

    Sunflower Oil: +30%
    Natural Gas +25%
    Propane: +25%
    Iron Ore: +23%
    Sugar: +20%
    Beef: 19%
    Rubber: +16%
    Steel: +15%
    Oats: +14%
    Palm Oil: +13%
    Zinc: +13%
    Naphtha: +12%
    Nickel: +12%
    Tin: +10%
    Aluminum: +9%

    Are you sure inflation is coming down?

    https://x.com/kurtsaltrichter/status/1843786572346610012

    The government’s messaging went from…

    “More Affordable Homes” earlier this year to

    “Mortgages More Affordable”

    They think we’re all dumb, don’t fall for it. They chose banks and builders over Canadian families. They’re trying to manipulate the real estate market.

    https://x.com/JonFlynnREstats/status/1843735466652364948

    FED’S BOSTIC: THERE IS A RISK THAT THE ECONOMY IS TOO STRONG, AND COULD HAMPER POLICY RECALIBRATION.

    https://x.com/financialjuice/status/1843697185332047918

    Bro is gonna ride out hurricane Milton on a 20ft sailboat

    https://x.com/ClownWorld_/status/1843830667584713093

    Meanwhile in Florida…

    https://x.com/ClownWorld_/status/1843724843629588653

    Homeless Encampment Cleanup Operation in Venice, California

    https://x.com/ClownWorld_/status/1843519264227242109

    1. Over the past month.

      Bidenflation will be back with a vengeance, probably worse than round #1. Perhaps BlueSky is right, the Dems might be throwing the election because they know what’s coming. On the other hand, they crave power over everything else.

    2. That last link. It took TWO strong and independent police females to handle one 65 year old 100lb woman. I feel safer already.

      1. Brought back a memory. In the NYC subway, mid-70s-early-80s, whenever it was when they widened the standards, I saw a woman cop walking through the cars. Not much more than 5′, dwarfed in her uniform and especially her hat, people snickered as she walked by. I was quite the feminist at the time, but I knew it was ridiculous.

    3. Mohammed’s house straps might actually work. Hopefully someone will revisit this later in the week so we can see how he fared compared to the neighbors. I can’t help but wonder why the vehicles aren’t tied down tho.

      1. I thought the same thing when I first saw it. After a few minutes I could also see it being one of those before/after efforts of futility. As for cost, I’d bet those aren’t cheap.

    4. Email from Geico …warning EV owners are about to get fooked

      🚗🔋 + 🌊 = 🔥🔥🔥

    5. “The national debt is reaching the point where it will significantly impact future generations”

      I try to tell them, but they don’t listen…

  17. The Hedricks are back in the Columbus area after boarding up and sandbagging their St Petersburg, Florida home and condo.

    “We were laying in our beds in Westerville and couldn’t sleep worrying about the properties in Florida, so we booked a last second flight, flew down to Florida,” Julie Hedrick said. “Thankfully, out of about 24 homes on our street, only four of us did not flood in,” Hedrick said. “Our home was one of those. However, the debris is almost as high as some of the houses in our neighborhood.”

    She said city crews had not picked up the debris from Hurricane Helene as of Tuesday afternoon. “We’re highly concerned about the amount of debris that is now going to become flying missiles,” she said.

    https://www.msn.com/en-us/news/us/columbus-couple-boarded-up-florida-home-and-evacuated-before-hurricane-milton/ar-AA1rVsZE

  18. House candidate Kelly Johnson said a Dunedin neighbor is hoarding garbage.

    How much storm debris in Tampa Bay is making it to dumps and what’s ending up in people’s backyards? A House candidate in Dunedin shared video of one resident piling roadside trash in a fenced backyard, but open to the elements.

    Kelly Johnson, a Democrat running in House District 47, posted the image of piled high garbage as Hurricane Milton threatens Florida’s Gulf Coast.

    “I present you with a view of my backyard neighbors from my upstairs window,” Johnson wrote on Facebook. “This is a property I asked for help on last night when I figured out they were dumping household waste. The police couldn’t do anything. Code enforcement is not calling me back. This is your city of Dunedin.”

    The home had parts of furniture, mattresses and other trash in the backyard. Johnson said she knew neighbors had been collecting garbage in the aftermath of Hurricane Helene.

    “I heard the trucks moving stuff, and dumb me thought they were moving all this debris out of the neighborhood,” she said. “Then I looked over the fence and thought, ‘Oh my gosh.’”

    She first heard from another neighbor who suspected garbage was being stored on property, not being taken to a local dump. Johnson and others called law enforcement but have not been able to get a response.

    A call to the listed phone number at the address with the garbage did not go through. The property is owned by Carolyn White, according to county property records.

    City officials said debris should be left curbside, and that local and state government officials and the Federal Emergency Management Agency have worked to clean up debris.

    But it also appears unlikely anything will be done about gathered debris on private properties before Milton makes landfall. Current forecasts have the storm tracking toward Tampa Bay and making landfall on the Gulf Coast early Thursday morning.

    “It’s going to be there for awhile,” Dunedin Mayor Julie Ward Bujalski said in a Facebook response to Johnson’s video.

    https://floridapolitics.com/archives/700410-are-some-homes-turning-backyards-into-unprotected-helene-debris-dumps-ahead-of-milton/

      1. code enforcement only applies to white people.

        You can’t expect those code officers to into the scary neighborhoods.

  19. The Fed could be cutting rates ‘too quickly,’ Richard Bernstein says

    Richard Bernstein Advisors CEO Rich Bernstein joins to discuss the current market dynamics and what they signal for the Federal Reserve’s interest rate strategy.

    Bernstein notes that investors are not fully grasping the unusual dynamic of the Fed cutting rates as corporate profits accelerate. He explains that “profits drive employment,” which would typically lead the Fed to hike rates, but the opposite is occurring. He believes this is “adding fuel to the fire,” creating a favorable environment for cyclical stocks.

    However, with the Fed basing their rate-cutting decisions on lagging economic indicators, Bernstein cautions, “I think there’s a real chance that in three to six months, people will be saying the Fed cut too quickly and the economy is too strong, so maybe they have to reverse course.”

    https://finance.yahoo.com/video/did-fed-cut-rates-too-214816448.html

    1. – Weak economy requiring 50 bps FFR rate cut, or (inflationary) election interference? Let’s ask the independent Fed.
      – The U.S. Treasury 10 year note yield back over 4%. The bond market thinks it’s the latter. “Marry the house; date the rate” may not mean what you think it means! 😂
      https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
      U.S. 10 Year Treasury Note 4.075%
      – My view: Hard assets and precious metals looking good here. U.S. Sovereign default looking good here.
      – The transformation from a constitutional republic to a banana republic continues…

      https://x.com/soldatthetop/status/1839651771284611217
      Sold At The Top @soldatthetop
      PCE Core YOY appears to be stuck and begs the question… why did the #Fed cut?: https://fred.stlouisfed.org/graph/?g=1upVJ
      9:02 AM · Sep 27, 2024 · 222 Views

      https://x.com/Convertbond/status/1841904299892163036
      Lawrence McDonald @Convertbond
      .@WallStreetSilv
      @elonmusk
      @BillAckman

      Buying Votes? Juicing fiscal spending into an election, anything to keep Trump out?

      2024: $36T*
      2023: $31T

      *Year-end pace. Bloomberg data.

      https://x.com/Convertbond/status/1839455612977152474
      Lawrence McDonald @Convertbond

      1. $400B excess USA stimmy — $2T total into the election, all in — deficit spending fiscal juice.

      2. 50bps rate cuts from Uncle Jay.

      3. China – bazooka fiscal and monetary.

      *you will destroy middle-class families – inflation.

      Quote
      Secretary Janet Yellen @SecYellen · Sep 26

      I shared with @SteveLiesman on @CNBC that all signs suggest we’re on a path to a soft landing with a healthy labor market and inflation down considerably.

      8:02 PM · Sep 26, 2024 · 14K Views

  20. These car brands are collecting and sharing your data with third parties

    Popular car brands are collecting and sharing driver data from braking patterns and odometer readings to vehicle location and voice recognition information, consumer advocacy group Choice has found.

    Choice sifted through the privacy policies of the 10 most popular car brands in Australia to identify which tracked their drivers and passengers.

    As car makers add microphones, sensors and other internet-connected features, cars are fast becoming all-seeing data-harvesting machines dubbed “smartphones on wheels”.

    But many car makers are not being up-front about data collection and often keep the fine print in their privacy policies vaguely worded, Choice investigative reporter Jarni Blakkarly said.

    “We found that seven out of 10 of those car brands contain concerning privacy policies that allow them to track driver data, driving habits, and sell that data to third parties. “We found Hyundai, Kia and Tesla to be the most concerning.”

    Kia and Hyundai, which have the same parent company, collect voice recognition data from inside their cars and sell this to the artificial intelligence (AI) software training company Credence, the Choice investigation found.

    “We think that the average Hyundai driver, the average Kia driver, when they purchase their car, have no idea that this is happening,” Mr Blakkarly said. “They haven’t really properly consented to their voice being used to train AI models.”

    Tesla collects short images and videos from cameras inside and outside their cars. Tesla workers have been caught sharing among themselves highly invasive camera recordings of Tesla customers in the nude, as well as images of crashes and road-rage incidents.

    The videos and images Tesla collects may be shared with third parties, Mr Blakkarly said. “The way their privacy policy is written is incredibly vague and gives them space to potentially share that data.”

    In general, privacy policies were vaguely worded, he added. Mazda, for instance, collects and shares “voice consumption” data but the privacy policy does not explain what this means.

    “I think, in many cases, privacy policies are written in a way that’s deliberately confusing and it’s not clear for consumers,” Mr Blakkarly said. “You’re automatically opted in to data collection when you purchase the vehicle or you download the app.”

    The findings of the Choice investigation are similar to those of the US-based Mozilla Foundation, which last year found 25 car brands collected customer data ranging from facial expressions to sexual activity and where and how people drive.

    Cars were a “privacy nightmare on wheels” and “the official worst category of products for privacy” the foundation said it had ever reviewed.

    https://www.abc.net.au/news/science/2024-10-09/car-brands-are-tracking-and-sharing-your-data-with-third-parties/104440742

  21. LA County voters face huge decision on homeless services funding

    Los Angeles voters’ decision about a new sales tax next month will have a significant effect on the resources dedicated to California’s largest homeless population: Either the county will be set to receive about $1 billion annually, or it will have until 2027 to find a new funding stream.

    Supporters of the measure include local nonprofits such as the Los Angeles-area branches of United Way and Habitat for Humanity. As of late September, 49% of likely voters surveyed in a poll co-sponsored by the LA Times said they would vote for Measure A — just short of the majority the measure needs to pass. Another 33% said they would vote no, and 17% remained undecided.

    But with few obvious signs of improvement on the streets, even after seven years of taxes, some critics wonder whether putting more money into existing programs is the right approach.

    “We pour too (many) tax dollars into a system that is broken,” said Lance Christensen, vice president of education policy and government affairs for the California Policy Center, a conservative fiscal watchdog group. The group hasn’t taken an official position on Measure A.

    https://www.msn.com/en-us/news/us/la-county-voters-face-huge-decision-on-homeless-services-funding/ar-AA1rUfg1

  22. BC Conservatives to redevelop Riverview Hospital, end safe supply

    The Conservative Party of BC have announced a new comprehensive strategy focusing on treatment and recovery to tackle British Columbia’s addictions and mental health crisis, while also taking aim at the policies set forth by the BC NDP and the federal Liberal party.

    This morning, party leader John Rustad held a press conference at the site of the former Riverview Hospital in Coquitlam and revealed that if elected, his party would turn the site into a “centre of excellence for mental healthcare and addictions recovery,” including growing its secure treatment capacity.

    “We will seek federal partnerships to expedite development and navigate complexities related to the Canada Health Act,” he said.

    If elected, the BC Conservatives say they would also end the “safe supply” strategy of the BC NDP and federal Liberal government. Supporters of safe supply assert this strategy helps safe lives, but the party states they will help addicts “transition safely to treatment medications, instead of perpetuating their reliance on dangerous street drugs.”

    Additionally, Rustad’s government would end decriminalization and stop drug legalization that “normalize and perpetuate opiate addiction,” and introduce province-wide drug education programs that focus on youth and young adults.

    The BC Conservatives have also vowed to introduce laws to allow involuntary treatment for individuals deemed to be at serious risk of addiction, including youth and adults, and establish specialized units to provide targeted care for those experiencing severe addiction or mental health conditions. This would aim to reduce pressure on hospital emergency rooms.

    In recent months, BC NDP party leader David Eby also suggested the possibility of enabling involuntary treatment as an added tool for addressing addictions and mental health crises.

    The provincial general election is scheduled for October 19, 2024.

    https://dailyhive.com/vancouver/bc-conservatives-mental-health-addictions-riverview-hospital-platform

  23. Five take-aways from the B.C. election debate

    The leaders squared off Tuesday night ahead of the Oct. 19 vote, with NDP Leader David Eby repeatedly attacking Conservative Leader John Rustad for his record as a member of the Liberal government and drawing attention to extreme comments made by Mr. Rustad and some of his candidates. In turn, Mr. Rustad declared that nothing the NDP government has done has left British Columbians better off. Green Party Leader Sonia Fursteneau, who hopes to play kingmaker in what polls are suggesting could be a minority government, repeatedly interrupted both of them with disdain about their records.

    Pollster and moderator Shachi Kurl questioned the leaders about the most vexing challenges facing the province – housing affordability, health care, the opioid crisis – and mostly got well-rehearsed lines from stump speeches in response. There was some crosstalk, but not too much, and some insults, but nothing too shocking.

    Here are some of the take-aways:

    The three leaders demonstrated distinct styles during the 90-minute debate. Mr. Rustad painted a portrait of a grim British Columbia under seven years of NDP rule, sharing anecdotes about passing a fatal overdose victim on his way into the debate; a woman who suffered a miscarriage in a hospital washroom after “waiting for hours for services in the emergency room”; and an angry mob burning a Canadian flag outside the Vancouver Art Gallery this week at an event to mark the Oct. 7 anniversary of Hamas’s attack on Israel.

    https://www.theglobeandmail.com/canada/article-five-takeaways-from-the-bc-leaders-election-debate/

  24. André Pratte: Legault’s desperately trying to win back nationalist vote with refugee proposals

    Last week, Quebec Premier François Legault reached the peak of populism when he suggested that the government of Canada should set up refugee camps for asylum seekers arriving in Quebec and “mandatorily” remove half of the 160,000 asylum seekers already in the province.

    Mind you, the premier did not use those exact terms. He talked about “waiting zones” modelled on the French “ zones d’attente ,” where some asylum seekers are detained for up to 26 days, usually before being sent back to where they came from. But let’s not fool ourselves: “waiting zones” are refugee camps. And “mandatory removal” does not mean anything if the use of force is not implied.

    https://www.msn.com/en-ca/news/canada/andr%C3%A9-pratte-legaults-desperately-trying-to-win-back-nationalist-vote-with-refugee-proposals/ar-AA1rX49I

  25. Keir Starmer’s Anti-Populism Is a Politics of Hopelessness

    At the recent Labour conference, Keir Starmer promised a break with the “fantasy of populism.” His creed of sensible centrism is allergic to popular demands — offering only smug boasting about its own hardheadedness.

    At the recent Labour conference, Keir Starmer promised a break with the “fantasy of populism.” His creed of sensible centrism is allergic to popular demands — offering only smug boasting about its own hardheadedness.

    Yet, if populism is no more, its specter seemed to haunt the Labour Party Conference in late September. As Starmer took the stage in Liverpool, he proclaimed that British politics remained marked by “people who still hanker for the politics of noisy performance, the weak and cowardly fantasy of populism.” His government will, he insisted, take necessary tough decisions to remedy the economic mess left by the previous Conservative administration and move beyond the “politics of easy answers.” Throughout the conference, the message discipline across the front bench was clear. Leader of the House of Commons, Lucy Powell, only two days earlier prescribed Starmerism as the “antidote to cynicism and populism.”

    This anti-populism is clearly a recurring theme in the rhetoric of Starmer and his allies. Why, then, in post-populist Britain, does populism remain such a fixation?

    It has become a cliché in academia to refer to populism as a contested topic, with competing definitions trying to make sense of the notoriously slippery concept. Nevertheless, a growing consensus has emerged to define populism as a politics that pits “the people” against “the elite.” As such, this term can take on both left-wing and right-wing ideological content. Where left-wing populists tend to position “people” against “elite” in socioeconomic terms, right-wing populists chastise elites for ignoring the cultural grievances of “the left behind” or “white working class.” Right-wing populism, then, promotes an exclusive politics, in contrast to inclusive left-wing populism.

    Anti-populism, however, ignores these ideological differences. For anti-populists, all populist politics is a threat to democracy. Liberal political theorist Jan-Werner Müller and Blairite acolyte Yascha Mounk, for example, warn political elites of the danger of divisive rhetoric. They give short shrift to the notion that left-wing populism could reflect a legitimate response to growing wealth inequality. As others have noted, anti-populism poses a greater threat to democracy than the populism it opposes. Not only does it engage in lazy horseshoe theory, presenting the Left and the Right as equally threatening to sensible centrism, it also aspires to a politics without “the people.” For anti-populists, the unwashed masses cannot be trusted with the complexities of government. Instead, politics should be the domain of experts, unimpeded by the whims of the lower orders.

    As political theorist Jonathan Dean has pointed out, however, anti-populists don’t actually need populists to oppose. Instead, they label all perceived threats to the status quo as dangerously “populist,” using a deliberately vague term. For Starmer and his outriders, “populism” is a useful slur to throw at his political rivals to delegitimize them.

    This could not be clearer than in Starmer’s recent conference speech, where the term “populist” was used to insulate his austerity program from criticism. When describing populism as “the politics of easy answers,” Starmer presented all those who oppose his plans to slash the Winter Fuel Payment (which helps pensioners pay their energy bills) as fantasists. If one argues that there are other ways to address the supposed £22 billion “black hole” in the public finances, such as by increasing taxes on the wealthy, well, that’s simply “populism.”

    Beyond portraying his austerity plan as sensible and realistic, Starmer is also keen to paint “populism” as being about style over substance: “the politics of noisy performance.” As a pro-Palestinian protester was dragged from the conference hall during the prime minister’s speech, the Labour leader could only chuckle in response. “This guy’s obviously got a pass from the 2019 conference,” he quipped back, in a likely preprepared line.

    At the heart of Starmer’s anti-populism lies a deep hypocrisy. The prime minister regularly commits the very sins of which so-called “populists” are often accused. While pundits decry the rise of “post-truth populism,” Starmer denies that he said Israel had the right to starve Gaza of water and electricity, regardless of the evidence to the contrary. Media and academic elites portray populism as a form of demagoguery, yet Starmer continues to show a deeply authoritarian streak, both in the management of his party and through his hard-line stance on law and order.

    Outside the Westminster bubble, however, the honeymoon period after Starmer’s landslide election victory has been short-lived. His approval ratings have sunk to a new low and the government remains beset by corruption scandals. Yet when challenged on his taking of freebies from wealthy doners, the prime minister appeared incredulous, refusing to recognize the electorate’s indignation.

    Ultimately, this is what the Starmer project’s anti-populism boils down to. “The people” and their outrage are always subordinate to the politics of “tough choices.” If the government continues down the road of further austerity, however, the prime minister may find himself opposed by a genuine “populist” competitor, not merely one he has confected.

    https://www.msn.com/en-us/news/world/keir-starmer-s-anti-populism-is-a-politics-of-hopelessness/ar-AA1rTtYI

  26. ‘Demonizing Immigrants’ Dominates Debate Between Rep. Jacobs and El Cajon Mayor Wells

    The national immigration controversy came to a San Diego congressional debate on Tuesday, with Republican Bill Wells warning that “we’re going to lose this country” and Rep. Sara Jacobs countering that demonizing immigrants poses a threat to communities.

    “We had almost 20 million people come across the border illegally,” said Wells, the mayor of El Cajon, which is home to a large immigrant Chaldean community from the Middle East. “We have 500,000 people in America right now that are criminals and have committed rape and murder and theft.”

    “We need to wake up and take care of this or we’re going to lose this country completely and a lot of us are going to lose our lives,” he said.

    But Jacobs, a Democrat, said demonizing migrants who seek asylum for safety and security “like all of our ancestors did” would create dangerous divisions.

    “Let’s be clear about what this rhetoric demonizing immigrants means for all of us and the safety of our community,” she said.

    “Everyone is aware that the economy is a mess,” said Wells. “It’s our radical-left policies that have brought us to this place.”

    And he blamed immigrants for high housing costs, saying “they’re 20 million people coming into this country competing for housing.”

    In a final question, Wells was asked whether he believes Donald Trump won the 2020 election.

    “I don’t know. It doesn’t matter anymore, does it? He’s running. He’s going to win in a couple of months,” Wells said.

    https://timesofsandiego.com/politics/2024/10/08/demonizing-immigrants-dominates-debate-between-rep-jacobs-and-el-cajon-mayor-wells/

    2. The Narrative is that we are lucky to have 20 million semi-illiterate invaders in our country because reasons.

    3. “Wells was asked whether he believes Donald Trump won the 2020 election.”

      This phrase is now the Queen of Hearts card to control Dems, isn’t it.

  27. They never called people voting for what they wanted “populism “before. They imply that populism is some kind of madness of the mobs, that’s a threat to democracy.
    Isn’t populism just people voting for what they want?

    1. Exactly. That’s the essence of democracy. Populism is the will of the people. They don’t want this bullshi.t anymore

    2. Keep in mind that just about every totalitarian communist state insisted it was “democratic” and many even used the term in the country’s office name, like The People’s Democratic Republic of XYZ.

      Mexico is ruled by a new uniparty (MORENA) and claims to be a democracy. Of course, MORENA is powerless to stop the cartels and organized crime. At least when the PRI ruled Mexico with an iron fist it was safe to travel on the highways.

  28. Four Venezuelan Illegals Broke Into Home, Tied Up Woman, Beat & Robbed Her In Upscale Dallas Neighborhood

    by Kelen McBreen
    October 9th, 2024 10:51 AM

    The men behind the attack allegedly waited for the woman to come home and exit her vehicle after parking in the driveway before they forced entry into the house and threatened to cut off her fingers.

    The horrifying incident took place in Dallas’ affluent Bluffview neighborhood where the alien invaders had to use the Google Translate app just to communicate with their victim.

    The thieves stole $75,000 worth of jewelry, the woman’s phone and several other expensive items.

    According to a Fox News Digital source working for Immigration and Customs Enforcement (ICE), 28-year-old Manuel Hernandez-Hernandez entered the U.S. near El Paso, Texas in March, was arrested in May for a DWI, and only spent three days in jail before being released.

    Hernandez-Hernandez also spent a night in jail for a separate incident, and was released the day before he allegedly committed the Bluffview robbery.

    20-year-old Yean Brayhan Torrealba-Sanabria entered the U.S. near Eagle Pass, Texas, in December where he was interviewed and released by ICE.

    27-year-old Wilmer Jesus Colmenares-Gonzalez was encountered by U.S. Customs and Border Protection (CBP) officers near Brownsville, Texas, in May and was let loose into America the same day.

    34-year-old Carlos Alberto Martinez-Silva entered in July when he appeared at the San Ysidro, California, port of entry and “was paroled into the United States pending immigration proceedings.”

    Three of the men were arrested during a standoff with Irving Police SWAT and Dallas Police SWAT.

    Fox 4 obtained documents revealing Hernandez-Hernandez believed the other three men belonged to Venezuela’s El Anti-Tren criminal street gang.

    Stories like this are taking place across America and will only continue to become more common under political leadership that is intentionally collapsing the United States from within.

    https://www.infowars.com/breaking-news

    2. I’d just like to point out that most people think Texas is controlling the border in Texas so this no longer happens. Not true. Biden still controls the official entry points and is happily still releasing them all. Femala just went on ‘the view’ and said she can’t think of one thing she would do differently than Biden. Joy!

  29. What’s crazy to me is how they try to say this tyranny, communism and facism is democracy.

    They are trying to redefine everything. It’s 2+2= 5.

    1. What’s crazy to me is how they try to say this tyranny, communism and facism is democracy.

      This is not new. Commies have been saying this since the end of WW2. And they have been quietly and patiently infiltrating everything out there., ramping it up as the Iron Curtain was falling.

      1. Orwell foretold this:

        War is peace
        Ignorance is strength
        Freedom is slavery

        So now they are telling us that tyranny is democracy. And enough sheeple will go along with it, as long as they can abort their children, not repay their student loans or something else.

    3. “Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.” – George Orwell, 1984, Part 1, Chapter 7

  30. Asheville NC, is a liberal ,mostly Yank enclave ,that have all the answers,or say they do, for mankinds ills…..the mountain people in the hills around there will survive, they were raised to take care of themselves..electricity or not,
    it’ll sort out, while we’re watching what milton will do to mid-florida…..it’s gonna be a zoo…

  31. Ok, so around 1975 a UN Treaty was made with the US and other Countries to ban using weather modification as a warfare weapon.

    First, why would they need to ban something if it didn’t exist.
    Second, as somebody posted, the UN Treaty didn’t say anything about using it on your own Country.
    Third point is that Countries could break Treaties if they wanted to.
    And gain of function bio weapon labs are apparently all over the place, and they aren’t being stopped, or even talked about politically.
    And Pres Johnson, way back in 60s ,talking about being able to control the weather.
    My point is that who knows what technology they have that they are not disclosing.

    1. First, why would they need to ban something if it didn’t exist.

      Perhaps out of fear that crazy attempts, such as using nukes to start or stop hurricanes, would be made.

  32. In other news that is easy to miss in this hectic news cycle, the Deputy Mayor Sheena Wright of NYC is resigning along with other family members. You may recall her from the Covid days always sitting right next to The Mayor nodding in affirmation at all the crazy things they were doing. Here she is in hood rat style lashing out at a reporter yesterday:

    https://www.youtube.com/watch?v=hnprAd6Jv1A

  33. Getting a little breezy with those those feeder bands passing through in Jupiter Florida but it looks like Tampa is catching hell.

  34. ‘We’re seeing entire towns essentially flooded up to the first story…So we’re talking total losses on properties in entire towns’

    That’s Jerry’s paper Jon. It’s a good thing everybody is real clear on who should have flood insurance, etc. Because a cynic would be tempted to say it looks like a huge number of loanowners are fooked that weren’t fooked two weeks ago.

  35. School Board Shuts Down Meeting As Parents Fume Over Illegal Alien MS-13 Gang Member Being Allowed In School

    by Kelen McBreen
    October 9th, 2024 3:31 PM

    Virginia’s Loudoun County School Board abruptly ended its Tuesday meeting when Chair Melinda Mansfield became triggered that parents were calling out the board for allowing an illegal alien who is reportedly an MS-13 gang member to attend class with their children.

    According an ABC 7 report from last month, “A Loudoun County Public School student who was caught carrying a gun in May 2023 and allegedly threatened to kill a fellow Blue Ridge Middle School student is now attending Loudoun Valley High School.”

    The teen was arrested after the May 2023 incident when he was found carrying a gun when his belongings were searched because he threatened to kill a fellow middle school student.

    On Tuesday, angry parents voiced their frustrations with the board for allowing a potentially violent illegal alien to go to school alongside their children.

    “A known gang member with a criminal record who was suspended from LCPS was allowed back in school,” stated one upset father.

    A mother added: “Where’s the protection and the safety for our children who are in school with other children who have [made] known threats, who have been arrested, and who are back in the school, and my daughter is terrified to go to school with him?”

    Every time a parent spoke about the dangerous student, Mansfield cut them off and warned they were breaking school board policies.

    https://www.infowars.com/posts/school-board-shut-down-meeting-as-parents-fumed-over-illegal-alien-ms-13-gang-member-being-allowed-in-school

    Crisis in the Classroom
    @CITClassroom

    WATCH: Outraged parents confronted the Loudoun County, Virginia school board Tuesday over a student who is allegedly tied to the MS-13 gang and in the U.S. illegally. The board shut down public comment, claiming speakers were sharing information which could identify the student.

    10:10 AM · Oct 9, 2024

    https://x.com/CITClassroom/status/1844017522636386546

    1. People need to pull their kids out of government schools. Yes, homeschooling is hard and a lot of work, but if your kids attend government schools they will be destroyed. And as we saw in this scene, the school boards don’t care one bit about your kids, and will happily place them in danger.

  36. ‘one of the most prominent office skyscrapers in downtown Los Angeles. The proposed price is a deep discount from the building’s appraised value of $632 million in 2020, underscoring how much downtown office values have fallen in recent years. After selling last year for $110 million, Union Bank Plaza on Figueroa Street sold again recently for just $80 million’

    The market needs knife catchers. Spreads the pain out.

    1. “…sold again recently for just $80 million.”

      CalPERS, CalSTRS, etc., have phat retirements that require funding, and there goes their asset values.

  37. ‘They’re not taking in any ideas from other people and saying, ‘You know, that’s a great idea. Let’s look into potentially making this into a recreation center. Let’s look into maybe making this into a library or an education center.’ They’re just saying, ‘Well, we’re going to keep pushing forward this navigation center idea’

    Yer getting bulldozed Karen, but it’s still way cheaper than renting!

  39. ‘We’re losing money every day,’ Schroeder said, projecting that the restaurant’s revenue this year will be less than half what it was before the pandemic. ‘If you look down the street at nine o’clock on a Friday — I have video — it is empty,’ she said. ‘You’d think they were filming a movie’

    This is an really interesting article IMO cuz Politico wrote this deadpan. Like they didn’t go along with the riots/bums/drugs/needles/poops insanity all along.

    1. Like they didn’t go along with the riots/bums/drugs/needles/poops insanity all along.

      And good heavens! Voters threw out the mayor and city council! Gee, I wonder why they did that. But deep down they still want Portland to be “weird”, so I’m sure they just voted in other Leftists, meaning nothing will change.

  40. Bunch of tornadoes tearing up Palm Beach, Martin amd Saint Lucie counties, at least 20 the local news just said. This is going to do wonders for the all ready out of control windstorm insurance policies when renewal time comes up. All that and the damn storm hasn’t even made landfall on the west coast yet.

  41. Hurricane Milton Live Updates: Hurricane-Force Wind Gusts Hit Florida Coast As Center Of Storm Nears

    Hurricane Milton is approaching Florida’s Gulf Coast, where millions have been told to evacuate as forecasters warn it could be be “one of the most destructive hurricanes on record” for the west-central part of the state.

    6 p.m. EDT, Oct. 9 — Hurricane-force wind gusts of 77 mph have been recorded at a WeatherFlow station at Egmont Channel at the mouth of Tampa Bay, about 15 minutes from St. Petersburg, according to the National Hurricane Center.

    Milton is located about 50 miles west-southwest of Sarasota and moving northeast at 15 mph with sustained winds of 120 mph, which classifies it as a Category 3 hurricane.

    5 p.m. EDT, Oct. 9 — Milton is expected to “make landfall near or just south of the Tampa Bay region” Wednesday before moving across the Florida peninsula overnight and pushing through the east coast Thursday, with “life-threatening hurricane-force winds, especially in gusts” expected in areas under hurricane warnings starting Wednesday night.

    4 p.m. EDT, Oct. 9 — The NHC warned tropical-storm-force winds and heavy rain had reached the western coast of Florida, and urged anyone in a tornado watch area to be ready to quickly shelter (see below).

    2 p.m. EDT, Oct. 9 — A storm surge warning has been issued for most of the Florida west coast and from the Sebastian Inlet in Florida to Altamaha Sound, Georgia and a storm surge watch issued for north of Altamaha Sound into South Carolina has been discontinued.

    1 p.m. EDT, Oct. 9 — The National Hurricane Center said tropical-storm-force winds are “just offshore” and encouraged residents to “stay inside and away from windows.”

    https://www.msn.com/en-us/news/other/hurricane-milton-live-updates-hurricane-force-wind-gusts-hit-florida-coast-as-center-of-storm-nears/ar-AA1rUB1b

  42. ‘Romspen halted all investor redemptions in November, 2022, citing some trouble with loan repayments. At the time, the lender had $3.2-billion in assets under management. In the years since, Romspen has cut its monthly distribution multiple times, meaning investors remain trapped in the fund and now earn much less yield’

    The K-dn story that won’t go away. Thousands of greedy bashtards handed their money to this loan racket, many tales of woe on previous HBB posts.

  43. ‘For single-family that was $1,131,800 in April 2022…In September, the benchmark selling price of a typical single-family home in the Central Okanagan was $1,018,000’

    It’s a good thing everybody put 150k K-dn pesos down!

  44. ‘Cllr Arthur – who resigned from the Tory group last year – added: ‘The poor old airport is getting kicked in the goolies because it’s the fall guy. If we hadn’t made those political choices and bit off more than we could chew, we wouldn’t be so desperate to get rid of the airport’

    https://www.collinsdictionary.com/dictionary/english/goolies

    goolies in British English
    (ˈɡuːlɪz IPA Pronunciation Guide )
    plural noun
    vulgar, slang
    testicles

    USAGE This word was formerly considered to be taboo. However, it has now become acceptable in speech, although some older or more conservative people may object to its use

  45. ‘Ellis said the comments were of little consolation to her and others with unfinished homes. ‘Obviously Ronnie and I have different gods we pray to, because my God would never allow someone to treat other humans like this,’ she told ABC Radio Perth. Ms Ellis has been living in a campervan with her two children for 20 months. She said she no longer trusts the company. ‘I’ve been fed so many lies over the past four years, even if they wrote to me now, I wouldn’t believe what they tell me’

    You are implying that Australian shacks don’t always go up Kathy with a K.

  47. Nobody Wants Your Terrible Deal (GTA Condo Real Estate Market Update)

    Team Sessa Real Estate

    1 hour ago TORONTO

    In this episode, we look at the current GTA Condo Markets – Toronto, York Region & Peel Region for the week ending Oct 2, 2024. We also discuss the problems people face as they place their hopes in the assignment market while not realizing that the resale market makes it almost impossible to compete on price without taking a major loss.

    https://www.youtube.com/watch?v=Tvwm8f8YEPA

    18:51.

  48. Fear and Control

    Robert F. Kennedy Jr.

    2 hours ago

    The capacity for critical thinking has been so overwhelmed and subverted in my generation that they didn’t see the possibility of an unprecedented level of control. They went along with COVID, which looked like in many ways a psyops program with orchestrated fear to disable the capacity for critical thought. Now, those same mechanisms are being used for them to support Kamala Harris.

    https://www.youtube.com/watch?v=qgzhE7O2Lqc

    2 minutes.

  49. Rep. Earl Blumenauer, a retiring Democrat congressman….”I’ve spent 54 years trying to make Portland the most livable city in the country or in the world,’ said Blumenauer, his voice cracking,”

    Well Earl, does it occur to you that Portland is a rotting sewer because of your so called efforts?

    Hmmmmmm.

  50. Bet this Leftist Loon is all in on gun control.

    KU professor tells class to ‘line up those guys and shoot them’ if males don’t vote for Kamala Harris

    Posted October 9, 2024

    In a shocking video released on X Wednesday, a University of Kansas teacher advocates shooting men who refuse to vote for Vice President Kamala Harris as president.

    “There are going to be some males in our society that will refuse to vote for a potential female president because they don’t think females are smart enough to be president,” said the professor, identified by multiple sources as Dr. Phillip W. Lowcock, director of international student-athlete support (WTN) for Kansas Athletics and health sport & exercise science lecturer.

    “We could line all those guys up and shoot them. They clearly don’t understand the way the world works.”

    https://readlion.com/ku-professor-tells-class-to-line-up-those-guys-and-shoot-them-if-males-dont-vote-for-kamala-harris/

      1. “Not going back”, Harris keeps saying.

        ” Great leap forward, not burdened by what has been.”

        Commies/Facism want to leap forward and erase what has been, for the One World Order dictorship.

  54. Homebuilding
    Miami leads UBS real estate bubble index, Zurich and Tokyo follow
    09:14 AM / October 9, 2024
    Miami leads UBS real estate bubble index, Zurich and Tokyo follow
    Image: iStockphoto

    Bubble risk in global housing markets continues to decline, according to the UBS Global Real Estate Bubble Index 2024. Miami tops the list with the highest bubble risk, followed by Tokyo and Zurich, despite Zurich’s 15% drop in risk score compared to last year. UBS analyzed residential property prices in 25 major cities worldwide, with several markets showing signs of recovery after sharp price corrections in recent years.

    For the second year in a row, average bubble risk decreased across the cities studied, with Miami facing the highest risk, fueled by a 50% rise in real housing prices since the end of 2019, including a 7% increase in the last four quarters. Tokyo follows closely with a 5% price increase in recent quarters, continuing its five-year trend of a 30% rise in real terms. Zurich, despite a notable decline in its risk score, has seen prices climb nearly 25% in the last five years.

    In contrast, cities like Los Angeles and Toronto display more moderate risk levels, while Amsterdam, Sydney, and Boston show a 10% decline in prices. Cities like New York, San Francisco, and Warsaw register lower bubble risks. São Paulo has the lowest risk in the study, despite real prices slightly increasing for two consecutive years.

    On average, housing prices fell 15% across the cities analyzed compared to mid-2022 when global interest rates began surging. Frankfurt, Munich, and Stockholm saw some of the largest corrections, with real prices dropping by more than 20%. Meanwhile, in cities like Dubai, real prices surged by almost 17%, and in sought-after areas like Vancouver, Sydney, and Madrid, prices increased by over 5% compared to last year, largely driven by housing shortages.

    Across the board, affordability worsened, with a skilled service-sector employee able to afford 40% less living space compared to 2021. Despite rising interest rates, a tightening housing supply and increasing rents, which rose by 5% over the past two years, helped stabilize many urban markets.
    …
    https://www.lesprom.com/en/news/Miami_leads_UBS_real_estate_bubble_index_Zurich_and_Tokyo_follow_115431/

  55. Hope everyone in Floriduh is safe.

    And now back to your regularly scheduled pod life, bug paste #Narrative

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