You Feel Defeated, And I’ve Done Nothing Wrong
It’s Friday desk clearing time for this blogger. “Nashville real estate broker, Jeff Checko attributed higher inventory to a few main factors. With the holidays coming up, Checko told News 2 that it’s typical for the housing market to slow down. ‘If people have to choose between renting and owning based on what the spread is. Right now, they’re choosing to rent and wait,’ Checko said. ‘Barring some external factor that really stymies things, I think the next 10 years of growth in Nashville are going to make the last 10 years — as vigorous as they were — they’re going to dwarf it a little bit,’ Checko told News 2. ‘That’s a bold prediction, but I really do think with so much coming and so much demand, and Nashville being no secret, the next time it really gets going, it’s going to be wildfire.'”
“The Rockford-area housing market is again seeing historic changes, with new housing data showing a significant increase in homes available for sale. Real estate broker Angela Ketelsen said she put a home in Machesney Park up for sale three weeks ago and is still waiting for an offer, something that would have been unheard of just several months ago. ‘You’d list a house in the market last year and if you didn’t have a showing that day you started to panic,’ she said. Inventory in the Rockford market rose 23.5% in September 2024 over the prior year, the largest year-over-year increase in 16 years. ‘Now we list houses and we’ve only had a handful of showings so far. So it’s definitely different. And it happened super quick,’ Ketelsen said.”
“Buncombe County Manager Avril Pinder described the crisis as the county’s ‘own Hurricane Katrina.’ Now, many in the housing market are analyzing the recovery efforts after natural disasters like Katrina to predict what the region’s long path back to normalcy looks like. ‘Because a lot of housing was damaged and destroyed — and costs for construction go up because there’s a lot of rebuilding that’s happening — prices go up,’ said Mike Figura, owner of Asheville-based Mosaic Community Lifestyle Realty. For those who are worried or want to move, Figura cautioned that selling too fast could attract predatory buyers. The best way to deal with someone who may be moving fast on a deal is to find your own representation, he said. ‘Talk to a real estate professional and get multiple opinions before making decisions. Don’t panic and don’t feel like you’re pressured into making a hasty decision,’ Figura said.”
“Homeowners are listing their storm-damaged properties before renovating, dodging a painful rebuild, but losing hundreds of thousands in value. Ken Sulewski has lived in Redington Beach for 27 years and saw more than four feet of storm surge into his home during Helene. Now, he’s selling it gutted. He said he listed his home for ‘$375,000 less’ than its pre-storm value. He hopes, despite the work it needs now, they will find a buyer that will love the location, and elevate it. His neighbor is also selling her flooded home ‘as is’ – no repairs. A Redington Beach realtor has seen dozens of homes listed this way and is trying to help her clients get what it’s still worth. ‘People are nervous about what their properties are worth, but believe it or not, their lot value is worth a lot of money, so take that into consideration before selling it at a moment’s notice… the property is worth a lot and the structure is worth money as well,’ said Connie Redman, a realtor with Coastal Property Group, who is selling Ken Sulewski’s home.”
“A state lawmaker has some bad news for condo owners – ‘there’s no state bailout coming.’ Hollywood State Senator Jason Pizzo shocked Wednesday’s crowd at Broward Housing Council’s workshop, which was called to address concerns condo owners have about high assessment fees. He told his constituents he understands their predicament, but lawmakers voted unanimously to pass the onerous safety legislation following the catastrophic collapse of the Champlain Towers condominium building in Surfside in 2021. A lot of owners, especially seniors, said they can’t afford to pay the assessments, and the reserve requirements are also making it hard to find someone who wants to buy their units. As a result, inventory of condos and townhomes on the market across Florida has increased 91.9% in the second quarter of 2024 compared with the year prior, according to the Florida Realtors Association. “
“KRDO13 Investigates has learned that the home that caught on fire in Teller County, which spread to create the Highland Lakes wildfire, was under foreclosure and would soon be up for auction. The Teller County Public Trustees Office confirmed to KRDO13 Investigates that the home at 13 Beaver Lake Circle was set for auction on November 13. TCSO also stated the house fire was human-caused, and still remains under investigation.”
“Kevin Oto, a Sacramento-based broker and owner of Green Haven Capital, says the 0.5% decrease has a lot of his clients asking how it will change mortgage rates. He says the rate only explains part of the story. ‘Buyers are very cautious when it comes to affordability, the price that they’re paying. I feel like sellers can’t really get top dollar unless they’re adding value, unless they’re providing a competitively priced home or if they have a unique property that people want,’ Oto said.”
“Kanye West isn’t letting a $36 million loss on his most recent home sale stop him from throwing himself back into the real estate market. The beleaguered rapper has just snapped up a luxurious Beverly Hills, CA, mansion for a whopping $35 million—almost the same amount he lost in the very controversial sale of his gutted Malibu beach home just a few weeks earlier. The rapper purchased the iconic home in 2021 for a whopping $57.25 million. The listing was updated to indicate that a sale was pending—and now, the identity of the buyer has been revealed, as well as the painfully large loss West took on the property. A real estate investment company based in California, paid around $21 million for the home.”
“The Rushmore, an apartment building on Capitol Hill that opened just before the pandemic, is headed to a foreclosure auction. Lender Bridge Investment Group filed a foreclosure notice and affidavit on the $26.5M loan for the property at 1220 Pennsylvania Ave. A slew of newer multifamily properties have fallen into financial distress this year. Properties that got off the ground right before or during the pandemic were burned by coronavirus-induced delays in construction, rising costs of materials and labor, followed by a year of rising interest rates. Developers that had floating-rate construction loans when interest rates were at a historic low then had to contend with much steeper rates.”
“Those properties became increasingly unable to refinance or pay back their loans, and as a result, lenders have forced sales, sold loans at steep discounts or foreclosed on them. Two new buildings in the quickly developing NoMa neighborhood were foreclosed on and sold this summer.”
“Higher interest rates that created lacklustre demand and slowed home sales in London also appear to be forcing prices on new homes to drop, the latest market snapshot from Statistics Canada shows. Since August 2022, when the market peaked locally, prices have dropped by about 3.1 per cent, reversing years of steady increases. London isn’t alone in this regard. The Kitchener-Cambridge-Waterloo region topped the list with new homes selling almost three per cent cheaper than a year ago. ‘Reviewing the comments that we received from our respondents over the past year, it’s what you would expect: They’re talking about it being a tight market, and now there is more negotiation with the buyers at this point than there would have been in the past,’ said Roland Hébert, an analyst with Statistics Canada. ‘So, the factors that would affect the resale market would be similar to those impacting the new housing market as well.'”
“Calgary’s rental market has gone through a major shift in recent years. But some say the height of the market may have come and gone, and that the trend of rapid growth now seems to be tapering off. ‘We have to be realistic — I think we have peaked here right now,’ said Mike Bucci, vice-president with the Western-Canada based Bucci Developments. ‘Renters have choice now.’ Rentals.ca data shows rents in Calgary have declined over the past two months, a shift that’s all the more striking given the dip happened in August and September, said Giacomo Ladas, the website’s associate director of communications.”
“‘Typically, August is the busiest rental month because that’s where you get the surge, especially students who are looking for permanent rentals,’ said Ladas. ‘That didn’t really happen in Calgary.’ Another indicator: Some property managers have started offering move-in bonuses and other incentives, Ladas said, which had gone by the wayside during the peak of the competitive market.”
“Values across New Zealand now stand at $805,984, which is around 18% below the post-Covid cyclical peak but still about 16% higher than the pre-Covid level from March 2020. Generally speaking, values across Tamaki Makaurau Auckland are still around 21-24% lower than the post-COVID peak (apart from a drop of closer to 26% in Waitakere), while the falls since the more recent ‘mini peak’ at the start of this year have typically been between -7% and -9%. CoreLogic NZ chief property economist, Kelvin Davidson added: ‘Auckland’s property market continues to be weighed down by abundant supply, both in terms of existing properties listed for sale as well as the continued pipeline of new-builds being completed. In addition, the stock of available listings on the market remains at multi-year highs, and this will take some time to dissipate, especially with a solid number of new-builds still being completed.'”
“The Australia Institute Chief Economist Greg Jericho warns the slight drop in Sydney’s house prices is not a ‘bubble burster’ and is still not enough for some prospective homeowners to purchase property. ‘Home loan lending is still rising quite solidly which when you extrapolate … that generally leads to higher house prices,’ Mr Jericho told Sky News Australia. I don’t think we are in the middle of a bubble burster here yet. I think what we are seeing is some moderation after pretty solid rises over the past couple of years.'”
“Some apartment buyers, caught up in a long-running saga with an embattled Perth builder, are questioning whether the government guardrails are keeping pace. Their situation has highlighted one of the starkest differences between signing a house and land contract and buying an apartment off the plan – home indemnity insurance. It comes as the government prepares for a crackdown on apartment builders that it hopes will improve consumer and insurer confidence. But with those reforms still a while off, these apartment buyers think you should read their story before making a purchase. People like Audrey Taylor, who bought an apartment off the plan in a four-storey complex, were not eligible. She put down a $18,850 deposit for an apartment in the Sky Homes Nicheliving complex in the Perth suburb of Inglewood in 2021.”
“‘I just don’t know how much I believe them because they’ve told me in the past that there were updates that didn’t end up happening,’ Ms Taylor said. ‘It’s just stressful and it’s always at the back of my mind.’ Another woman, who asked not to be named, said she put down a $34,000 deposit for one of the apartments in May 2022. She said she was at the point where she just wanted to exit the contract but had been advised by a lawyer that this was not an option. ‘It is quite stressful and it is taking a toll on me and my work,’ she said. ‘You feel defeated. And I’ve done nothing wrong.'”
“Another buyer, Claire, put down a $35,000 deposit for a Sky Homes Nicheliving apartment in 2020 and was hopeful it would be completed before her contract was up in mid-2026. In the meantime, she is paying around $35,000 each year in rent. ‘It’s the lost opportunity,’ she said.”
Comments are closed.
I am not garbage
“A Breach Of Protocol”: White House Overrode Stenographers, Altered “Garbage” Transcript
https://www.zerohedge.com/political/breach-protocol-white-house-overrode-stenographers-altered-garbage-transcript
In a mad scramble to cover for President Biden calling half of the country “garbage,” White House press officials altered the official transcript, overriding official stenographers who objected to the alterations, the Associated Press reports.
According to the pre-altered transcript, Biden said “The only garbage I see floating out there is his supporters — his — his demonization of Latinos is unconscionable, and it’s un-American.”
However White House press office added an apostrophe, reading “supporter’s” rather than “supporters,” in order to peddle the falsehood that Biden was criticizing comic Tony Hinchcliffe, who referred to the US island territory of Puerto Rico as a “floating island of garbage.”
The change was made after the press office “conferred with the president,” according to an internal email from the head of the stenographers’ office that was obtained by The AP. The authenticity of the email was confirmed by two government officials who spoke on condition of anonymity to discuss internal matters.
The supervisor, in the email, called the press office’s handling of the matter “a breach of protocol and spoliation of transcript integrity between the Stenography and Press Offices.” -AP
According to the email, the press office demanded that stenographers quickly produce a transcript of Biden’s call with Latino activists to discuss Hinchicliffe’s comments, while Biden’s social media team posted on X that he was not calling all Trump supporters garbage – and that he was specifically referring to the “hateful rhetoric about Puerto Rico spewed by Trump’s supporter at his Madison Square Garden rally.”
The two-person stenography team on duty that evening, a “typer” and a “proofer” said that any edits to the official transcript would have to be approved by their supervisor, the head of the stenographer’s office – who was unavailable. Because of this, the White House press office went ahead and published an altered transcript on the White House website and distributed it to the press and social media in a mad scramble.
The supervisor did not like that…
“If there is a difference in interpretation, the Press Office may choose to withhold the transcript but cannot edit it independently,” wrote the supervisor, adding “Our Stenography Office transcript — released to our distro, which includes the National Archives — is now different than the version edited and released to the public by Press Office staff.”
The supervisor, a career White House employee, raised concerns about the alteration in an email to White House communications director Ben LaBolt, press secretary Karine Jean-Pierre, and other officials.
“Regardless of urgency, it is essential to our transcripts’ authenticity and legitimacy that we adhere to consistent protocol for requesting edits, approval, and release,” he wrote.
The alteration was done as the White House scrambled to respond to a cascade of press inquiries over Biden’s comments – which completely upstaged Kamala Harris’ closing argument speech outside the White House.
As journalist Michael Shellenberger points out, it was likely illegal.
Biden’s comment was a gift to the Trump campaign, which immediately capitalized on it – fundraising off the quote, while Trump himself held a photo op inside a garbage truck on Wednesday.
Harris also moved to quickly distance herself from Biden’s comments, telling reporters “I strongly disagree with any criticism of people based on who they vote for.”
Meanwhile, House Republicans have been discussing launching an investigation into the fabrication – with House Republican Conference Chairwoman Elise Stefanik, R-(NY), and House Oversight and Accountability Chairman James Comer, R-(KY), on Wednesday accusing the White House of “releasing a false transcript” of Biden’s remarks, and called on White House counsel Ed Siskel to retain documents and internal communications related to Biden’s remarks and the transcript.
“White House staff cannot rewrite the words of the President of the United States to be more politically on message,” the lawmakers wrote, noting that it may have been a violation of the Presidential Records Act of 1978.
Here come the Language Police™
Czar
‘You’d list a house in the market last year and if you didn’t have a showing that day you started to panic,’ she said. Inventory in the Rockford market rose 23.5% in September 2024 over the prior year, the largest year-over-year increase in 16 years. ‘Now we list houses and we’ve only had a handful of showings so far. So it’s definitely different. And it happened super quick’
Was it like somebody flipped a switch Angela?
‘A state lawmaker has some bad news for condo owners – ‘there’s no state bailout coming’…inventory of condos and townhomes on the market across Florida has increased 91.9% in the second quarter of 2024 compared with the year prior’
The second quarter was before the latest storms too.
Florida is finished
Why doesn’t some fancy law firm come up with a waiver acknowledging decades of oxidation and the lack of funds to address it, i.e., you live here at your own risk. Then get all of the owner tenants to sign two copies after watching a video that explains the risks in detail. Then go on about your life, before Surfside.
‘That’s a bold prediction, but I really do think with so much coming and so much demand, and Nashville being no secret, the next time it really gets going, it’s going to be wildfire.’”
Realtors dealing with rising inventories, lengthening time on market, price reductions, and slumping sales are going to resort to painting rosy pictures of mythical future scenarios aimed at promoting a false sense of urgency among the unwary and stupid. The slack-jawed morons who fall for such lies who richly deserve the brutal schlonging that awaits them.
Realtors are liars.
Real estate broker Angela Ketelsen said she put a home in Machesney Park up for sale three weeks ago and is still waiting for an offer, something that would have been unheard of just several months ago.
The artificial demand created by the Fed pushing trillions of created-out-of-thin air “stimulus” into the financial system was never sustainable in the long run. Now the party is over, Angela, and the hangover is setting in. So instead of pining for the scamdemic-era mass psychosis of imbeciles rushing to sign on Mr. Banker’s dotted line for insanely overpriced shacks, you’d better face the new reality and stop wasting your time dealing with greedheads who are still clinging to their delusional wish prices. And start scouting out your local food banks.
‘Talk to a real estate professional and get multiple opinions before making decisions.
Real estate “professionals” are the most unscrupulous predators of all.
“Homeowners are listing their storm-damaged properties before renovating, dodging a painful rebuild, but losing hundreds of thousands in value.
Yellen Bux “value” should not be confused with real value.
Welcome to Paul Krugman’s “strongest economy ever” (for the predatory parasites in the financial sector).
https://x.com/NorthmanTrader/status/1852042536384426057
Hard to imagine the captured, craven uniparty bringing universities to account for forcing clot shots on their faculty and students, but accountability for these criminals is long overdue.
https://x.com/liz_churchill10/status/1852100880729776156
Tampon Timmy can’t even carry his own hometown in deep-blue MN. We’re gonna need a bigger election steal, DNC & Deep State traitors.
https://www.thegatewaypundit.com/2024/10/news-outlet-goes-tim-walzs-hometown-minnesota-everyone/
Clutch those pearls, globalist scum media. Millions of the red-pilled are not going to go quietly into that Long Goodnight the sociopathic “elites” have planned for them.
https://dnyuz.com/2024/11/01/xenophobia-and-hate-speech-are-spiking-heading-into-the-election/
Under the current Narrative, wanting closed borders makes you a radical, raycis, nahtsi.
Longtime HBB posters as the Fed’s Housing Bubble 2.0 implodes.
https://www.youtube.com/watch?v=GeQ3ATrrz2I
Remain calm – all is well!
https://x.com/SuburbanDrone/status/1852334224935690718
“Every record has been destroyed or falsified, every book rewritten, every picture has been repainted, every statue and street building has been renamed, every date has been altered. And the process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right.”
― George Orwell, 1984
https://x.com/zerohedge/status/1852191386000318931
Neocons are slimy betraying weasels & traitors.
https://x.com/1Nicdar/status/1852295858668060683
This is a bad omen, Yellen the Felon.
https://x.com/PeterMallouk/status/1850711422445240413
I came across this beautifully written blog post from Australia ca. 2015. All the pinheads out there whining about how the Social Security Trust Fund (meager as it is) should have been invested in stocks rather than government bonds, need to read this.
https://drbenway.blogspot.com/2015/07/to-live-and-die-in-age-of-market.html
Excerpts:
The core tenet of market fundamentalism is that markets are efficient no matter what, even if they are deliberately ramped by forcefed debt-driven inflows. Since markets are unmanipulable, we should deliberately ramp them as high as possible. The promise offered by the gospel of the bubbleheads is alluring; if everyone puts all their money in the stock market index and leaves it there, over thirty years the money will grow thirtyfold. According to the bubbleheads, this thirtyfold increase in wealth will come without effort, with the long time frame eliminating risk too.
…
there was a very simple reason for the previous thirtyfold increase in markets, one that is taboo to mention for market fundamentalists, namely an exponential increase in debt forcefed into markets. In a debt based monetary system, the money created by increased debt will inevitably find its way into financial assets. After all, where else would newly created money end up? New transmission sources for debt-fuelled ramping of markets have emerged – margin lending for individuals, stock buybacks for companies, and quantitative easing for governments. As debt has increased, so has the market cap and power of financial institutions, with banks and big corporations tied ever closer to government, in what is effectively a fascist system.
….
Fittingly, one of the first places such a system was implemented was Pinochet’s Chile, at the behest of Milton Friedman. By law, a portion of employee pay is forcefed to financial intermediaries, with a large proportion then put into stock markets. This has several effects. It provides an immediate massive boon to financial intermediaries, causing resources to be diverted from actual enterprise into the financial sector. The emergence of powerful financial intermediaries increases income inequality, creating a boy’s club that set each other’s wages, as assets are controlled by these intermediaries.
Orlando Fashion Square mall is up for sale. Can it find a buyer?
ORLANDO, Fla. – Would you like to buy a mall? Orlando Fashion Square Mall has been put up for sale and is hoping to find a buyer.
The two-story, 625,000-square-foot mall is located on East Colonial Drive near Orlando Executive Airport and between downtown Orlando and Baldwin Park.
The mall opened in 1973, was sold in 2013, and eventually went into foreclosure following the closures of JC Penney and Sears, two of its anchor department stores, according to the listing.
Dallas-based Edge Commercial Real Estate is managing the potential sale.
Managing Director Barney McAuley told FOX 35 that it’s a great investment opportunity.
“Most of the time we drive around the malls we’re selling and there’s vacant homes and a challenging economic environment. In this location, you drive around the mall and there are $3 million, $5 million homes,” he said.
The mall itself is in a unique position in that one company, Bancorp, owns the buildings, and another company, Unicorp National Developments, owns the land that the mall sits on.
“If they were to sell the improvements on top of the land we own, whoever were to buy those, owes us a percentage of rent, because the original lease structure going way back in time before I was born, provides that whatever’s built there they have to pay a percentage of the sales to the landlord, which is us,” said Chuck Whittall.
“We think eventually they’re going to give us the keys back to the property but I’m surprised they haven’t, at this point. So we’re just watching to see. We’re happy with our investment, right now,” said Whittall.
https://www.fox35orlando.com/news/orlando-fashion-square-mall-for-sale
** “The mall itself is in a unique position in that one company, Bancorp, owns the buildings, and another company, Unicorp National Developments, owns the land that the mall sits on.”
this Orlando area mall setup sounds like a big, fancy, expensive trailer park.
BUT, at least they can make some sense out of the situation. here in Citrus Heights, CA. the once former Sunrise Mall, also built circa 1973, has been on hospice for decades, and just sits & weathers away from a crazy web of owners whom can’t or won’t seem to get their act together long enough to rehab the huge property.
Oh sure, the City of Citrus Heights makes grand news headlines every few years about fantastic upcoming changes, improvements, etc, etc.
then, nothing. and more nothing.
whoops, pardon my faux pas, there IS a little “something” going on as traveling gaudy circuses & cheap amusement park ride operators make it a regular stop now, with a new one week setting up weekly in the massive parking lot. strange that, you never see any customers?!
seems the city government is useless, unless you count adding taxes/bonds to every.single.election.cycle as progress.
maybe just one of the reasons the recent mayor threw up . . .
his hands in disgust & moved across country.
The shopping mall is obsolete. The only purpose for storefronts is that you can return/exchange mail order stuff that didn’t fit.
Fun factoid: he is moving to a town that is notorious for having put all their negroes on a train to send them far away back in the day. I’m surprised the msm hasn’t noticed that yet.
Farm loans above $1M soar as ag economy deteriorates
A significant nosedive in crop prices has created a punishing economic environment for farmers, with smaller-sized operations feeling the brunt.
Growth in loan volumes was concentrated among small and mid-sized lenders, the Federal Reserve report said, underscoring difficulties for family farms and other smaller operations without deep pockets to weather the volatility.
Farmers are grappling with weakened global demand and a glut of corn and soybeans, which has contributed to a decline in the prices paid to producers. The deteriorating environment has also disincentivized growers from buying new equipment or making other upgrades, with demand for loans that typically fund miscellaneous purchases slowing significantly.
“Weak profit margins in the crop sector continued to weigh on the farm economy,” the report said. “A moderation in farm sector liquidity and higher interest rates has likely contributed to reduced demand for machinery lending and reduced spending on more discretionary purchases.”
https://finance.yahoo.com/news/farm-loans-above-1m-soar-112300539.html
Will more export markets be the solution to Australia’s avocado oversupply?
Australian avocado farmers who have battled low prices and gluts in recent years are setting their sights on lucrative export markets.
Despite the industry dealing with oversupply, some farmers are planting more trees as global demand for avocados continues to grow.
Among them is Riverland avocado farmer Justin Loffler, who recently planted more than 600 new trees.
“Despite what people are calling a domestic glut, I think there’s still a positive future for the avocado industry both in Australia and utilising the export markets,” he said.
“We need to keep developing those markets to make sure we can sell avocados without going crazy on the planting.”
He said while most of his produce went to domestic markets, he thought export markets were critical.
“We can take excess fruit off the Australian market and make sure that everyone can get a decent return,” he said.
https://www.abc.net.au/news/rural/2024-11-01/avocado-farm-expansion-despite-domestic-oversupply/104535216
Judge Rules RFR Must Hand Over Chrysler Building To Cooper Union
A Manhattan judge has ruled that RFR Holding must allow Cooper Union to collect rents at the Chrysler Building while Aby Rosen and Michael Fuchs’ firm fights to maintain control of the skyscraper through its ground lease.
RFR owes $21M in unpaid ground rent, and Cooper Union has pushed to terminate the lease as a result, asking a judge to enforce an eviction notice. RFR sued the private college in an attempt to void the termination.
The judge presiding over the case, Jennifer Schecter, issued an injunction in a hearing Thursday, ruling that Cooper Union can collect rents from the tenants in place at the landmarked 1.3M SF tower at 405 Lexington Ave.
“[RFR] cannot take any steps to interfere with Cooper Union’s management or operations in control of the building,” Schecter said at the hearing, The Real Deal reported.
Attorneys for RFR had argued that the lease termination wasn’t valid because it had been sent to RFR’s current office rather than the office listed in the lease agreement. Judge Schechter called the argument “the flimsiest of flimsy,” per TRD.
https://www.bisnow.com/new-york/news/office/a-judge-just-ruled-cooper-union-can-collect-chrysler-building-rents-rfr-isnt-happy-126586
I’m sure SE Asia and China will snap up the surplus crop /sarc
A reader sent these in:
Look at all the past 180 days listing. Nothing to see here. This is only one area
https://x.com/Dctr_Phil/status/1852169770877005893
Oh, look, Mummy! Twins!
https://x.com/great_martis/status/1851623762174885982
I’m so old, I remember blue collar democrats 🤣
https://x.com/SallyMayweather/status/1851611310947004850
Ford Motor Co. plans to stop building its F-150 Lightning from mid-November through the end of the year amid lower-than-expected demand for the electric pickup
https://x.com/MacroEdgeRes/status/1851979068755054957
State level politicians are in a unique bind because many states are staring down substantial budget issues – if they were to apply cost of living adjustments to UI payments unemployment rates would go much higher – instead they’ve kicked that duty onto food banks & gig work for now.
https://x.com/DonMiami3/status/1852013752142475670
Fintwit darling tulip stock SMCI (server racks & likely fraud) is now down 80% from the peak
https://x.com/DonMiami3/status/1852031113209802791
Intel has announced a major restructuring, including a 16,500 employee reduction and a series of cost and capital expenditure reduction initiatives. These measures are part of a broader strategy to achieve savings of up to $10 billion by 2025. In Q3 2024, Intel reported revenues of $13.28 billion, surpassing analysts’ expectations, though earnings per share came in at -$0.46, significantly below market expectations. The financial results reflect extensive restructuring costs and substantial asset impairments totaling $15.9 billion. Intel aims to continue optimizing its operations with the launch of a new product line planned for 2025.
https://x.com/MoodixMarket/status/1852085154619032034
Finally a RE agent that wants to see proper price discovery.
https://x.com/Dallas_Korben_/status/1844107189876912490
This is called – just pay off the balance of my mortgage…
https://x.com/DonMiami3/status/1844113742591820034
Dallas metro inventory
https://x.com/DonMiami3/status/1844137139405193508
Texas October housing inventory at a 10 year high
https://x.com/DonMiami3/status/1852108286893723911
“Real Estate Déjà Vu”
History repeats itself?
In 1974, the real estate market crumbled under soaring interest rates and plummeting home sales…..
https://x.com/ShaziGoalie/status/1852087420470075785
RE bulls really went from “prices always go up” to “a 13% reduction is nothing” to “another 3% reduction is nothing” to “we’re higher than we were 5 years ago”.
https://x.com/igetredpilled/status/1851988967421284624
8 states are back above pre-pandemic active housing inventory levels
Arizona
Colorado
Florida
Idaho
Oklahoma
Tennessee
Texas
Utah
https://x.com/ResidentialClub/status/1852083077524144265
73% of Amazon, $AMZN, workers reportedly are considering quitting after a 5 day a week in-office mandate, per FORTUNE.
https://x.com/unusual_whales/status/1851951502077903018
One of the most remarkable images out of Spain yesterday is from this town in Aragón.
That’s a lot of water, but the dam — which was ordered built by the Emperor Augustus — held firm, just as it has for the past 2000 years.
Roman concrete: Never leave home without it.
https://x.com/aitorehm/status/1851909551445950876
Year-over-year shift in active housing inventory for sale:
Vermont -> +61%
Hawaii -> +53%
Florida -> +45%
Washington -> +43%
Georgia -> +43%
Colorado -> +41%
Nevada -> +41%
North Carolina -> +39%
Arizona -> +37%
Tennessee -> +37%
U.S. -> +29%
https://x.com/ResidentialClub/status/1852084090939515373
Active housing inventory for sale, by October
Oct. 2017: 1,287,322 📉
Oct. 2018: 1,304,682 📈
Oct. 2019: 1,208,311 📉
Oct. 2020: 734,040 📉
Oct. 2021: 565,707 📉
Oct. 2022: 752,741 📈
Oct. 2023: 738,082 📉
Oct. 2024: 953,814 📈
https://x.com/ResidentialClub/status/1852082438975164608
40-year change in statewide home prices
Change between August 1984 and August 2024:
+810% in Washington
+734% in Oregon
+682% in Rhode Island
+655% in California
+646% in Hawaii
https://x.com/ResidentialClub/status/1851979612605051090
US Asking Rents were down 0.7% over the last year, the 17th consecutive month showing a YoY decline.
https://x.com/charliebilello/status/1852013695347409396
Personal interest payments have exploded to over half a trillion dollars a year while the personal saving rate has dropped to 4.6%
https://x.com/NorthmanTrader/status/1852042536384426057
Incidentally, speaking to fiscal dominance and the tightening myth financial conditions are now looser compared to when the Fed was still running zero rates and full blast QE in 2021:
https://x.com/NorthmanTrader/status/1851225066538770560
My job just announced we’re having a mandatory plant wide meeting at 1pm today, my boss said this has never happened before and that they’re not being told what it’s about.
I can guarantee they’re going to tell us that they’re going to start cutting hours due to the fact that our orders have dropped off a cliff this year.
Guess I’ll find out shortly.
https://x.com/BitBuyer313/status/1852028776030302623
Update, it’s pretty grim, they’re cutting hours in half for most of the foundry with the exception of the casthouse (which is where I work fortunately) I’ll be losing some hours but nothing like the rest of the facility downstream from casting. This is indefinite due to our monthly orders dropping off a cliff and is expected to last into the 2nd quarter of next year. They’re shutting down one of our casting pits as well. Fortunately I operate the most important casting pit as the alloy of metal I cast is in the highest demand but a lot of people at my job are in complete shock right now. The only other time this ever happened was during the 2008 crash and yet the government lies and says the economy is doing fine.
Thank God for #Bitcoin
https://x.com/BitBuyer313/status/1852049341441016319
For additional context, my foundry is a top 10 global aluminum supplier, and they’re in full blown emergency mode preparing for a possible economic collapse.
https://x.com/BitBuyer313/status/1852061240803185087
No worries.
I’m in the brewing industry.
I work for one of the largest breweries in America and they cut our hours as well.
They claimed it was due to demand.
Cut us from 84hrs a week to 36. Absolutely no OT. No time & half or double time.
2mths now
https://x.com/TheHomicidalElf/status/1852175097244586446
Wow! LA is off their rocker.
Los Angeles City council just voted 11-0 to eliminate substantial renovation from just cause evictions.
This is going to be the nail in the coffin for many investors open to buying in LA.
Just so disappointing to see a group of people decimate a city from improving the housing stock.
https://x.com/TAYVAY_/status/1852011342473105542
Batman knows.
https://x.com/jameslavish/status/1852171553536119117
Yet another CNBC favorite
https://x.com/PikerCapital/status/1852160523229397204
That aluminum caster series. That seems bad. But of course, strongest economy evah.
How a new state policy could close a 24-year-old insurance business
A local insurance company said it’s concerned about losing business after a new rule implemented by the Florida Highway Safety and Motor Vehicles Department requires individuals wanting to register a car with a foreign passport to have documentation illustrating lawful presence in the United States.
Those trying to register a car with a passport must originate from the United States, or have an unexpired passport issued by the government of another country with a mark affixed by the United States Department of Homeland Security (DHS). Other valid documents include an unexpired I-94, a current permanent resident card and an unexpired immigrant visa issued by the DHS.
Previously, people only needed a valid foreign passport.
Rosana Giani and Adelio Deassun, who own Novus Insurance in Boca Raton, said a good percentage of their business comes from undocumented migrants. They say the new policy makes it harder to get additional business and serve customers, who have already paid for services.
“The plates that we had to deliver to our customers, we couldn’t deliver because it was sent back,” Giani said. “They changed the rules and they didn’t let anybody know we have new rules.”
They also said if a migrant’s car is totaled and they are insured, this new policy won’t allow them to move the registration to a newer car without the proper documentation.
“Let’s get your car out the mud and try to fix that [totaled] car,” Giani said. “Yeah, it’s a nightmare.”
Both Deassun and Giani said the policy has cut their business by about 60% because people are scared to renew their registration even if they are grandfathered in under the old policy.
“I’m afraid of how I’m going to pay my rent next week,” Giani said. “…We’ll start selling popsicles. I don’t know.”
The married couple are thinking about closing their business after 24 years or moving to another state like California.
Three different local car dealers, who said many of their clients are undocumented migrants, told WPTV’s Ethan Stein they are struggling to sell cars after the new policy went into affect in September.
https://www.wflx.com/2024/11/01/how-new-state-policy-could-close-24-year-old-insurance-business/
24yr old bidnezz faces closing.
errr, is it just me, or does anyone else see the trees for the forest?
* a “business” built from day one knowingly serving ILLEGALS.
* how quickly the story slipped from mean & nasty old “ILLEGALS” to soft n’ fluffy harmless “migrants”
* considering moving to CA, where no one enforces any laws against any POC, no way no how. and heck, we can always use ANOTHER rainbow food cart/huge red canopy food tent, always opening after 5pm to avoid the lazy code inspectors looking the other way as legit restaurants are closing in record amount due to large overhead co$t$.
* how they try to portray the ILLEGALS as law abiding consumers but we all know that as soon as the car plates are issued, the insurance payments stop! that’s why ILLEGALS are often required to pay the yearly premium in-full, upfront.
odele, vamos a la fiesta
‘built from day one knowingly serving ILLEGALS’
I hand pay my auto insurance because the mail is so unreliable. I’d bet 50% of the customers I see there are illegals or of some alien status. From what I observed it is common for them to pay monthly, or getting reinstated after not paying, etc. A lot of people walking in all the time.
The signs are all in English and Spanish, the women there are fluent in both. I signed up with them because they were recommended and close by.
Three different local car dealers, who said many of their clients are undocumented migrants, told WPTV’s Ethan Stein they are struggling to sell cars after the new policy went into affect in September.
The last time I was in Orlando I wondered if any of the locals were Americans. The staff everywhere: airport, hotels, restaurants, theme parks, shops, taxi drivers, etc. Everyone was foreign.
They are doing the jobs Americans won’t do! “sarc”
not for slave wages no
There’s not a employee shortage, there’s a wage shortage.
TD Bank executives should have been punished more severely, U.S. Senator Elizabeth Warren tells prosecutors
American Senator Elizabeth Warren is calling out the U.S. Department of Justice for failing to adequately hold Toronto-Dominion Bank
executives accountable for anti-money-laundering failures.
In a Wednesday letter addressed to the DOJ, Ms. Warren said that while the Justice Department and banking regulators imposed severe fines and restrictions, they fell short by neglecting to directly charge the bank’s most senior executives.
“TD Bank‘s executives allowed TD Bank TD-T to act as a criminal slush fund and hurt hundreds of thousands of people. The details of this crime are egregious,” Ms. Warren said. “Between January, 2014, and October, 2023, TD Bank leadership knowingly presided over a criminally deficient anti-money laundering program while growing the bank such that its ‘risk profile increas[ed] significantly.’”
https://www.theglobeandmail.com/business/article-td-bank-executives-should-have-been-punished-more-severely-us-senator/
TD Bank executives should have been punished more severely, U.S. Senator Elizabeth Warren tells prosecutors
I very much agree with Warren on this .
Suspect arrested in shooting at musician AP Dhillon’s B.C. home, 2nd suspect likely fled to India: RCMP
Police on Vancouver Island say one suspect has been arrested and another is believed to have fled Canada after shots were fired at a Punjabi musician’s Victoria-area home last month.
The arrest was made in Ontario on Wednesday, according to West Shore RCMP, who said 25-year-old Winnipeg resident Abjeet Kingra has been charged with discharging a firearm with intent and arson.
Kingra was scheduled to make a court appearance in Ontario on Thursday, police said.
A second suspect, 23-year-old Vikram Sharma, was last known to be residing in Winnipeg, but police believe he has since fled to India.
Sharma is wanted for the same charges Kingra is facing.
The charges stem from a shooting at a home in the 3300 block of Ravenwood Road in Colwood, B.C. on Sept. 2.
Videos of the attack, including one apparently taken by the shooter, have been shared widely online, showing at least 14 gunshots fired into the home of musician AP Dhillon.
On the same day, police found two vehicles on fire in the same block.
Neighbours told CTV News they called 911 when they awoke to the sound of gunshots and heard a vehicle speeding away from the scene. They said the pickup truck burning in the driveway of the home eventually rolled into the garage door, setting the garage on fire before the flames were extinguished.
The Times of India newspaper reported the Indian-based Lawrence Bishnoi gang claimed responsibility for the shooting, stating on social media the attack was in response to a music video Dhillon filmed with Bollywood actor Salman Khan, with whom the group reportedly has a long-standing feud.
https://bc.ctvnews.ca/suspect-arrested-in-shooting-at-musician-ap-dhillon-s-b-c-home-2nd-suspect-likely-fled-to-india-rcmp-1.7094587
Barrie mayor leading charge to push province to controversially address encampments
Barrie Mayor Alex Nuttall is ready to take action to address the issue of homeless encampments popping up in open areas, which is bound to come with some backlash.
At an unrelated press conference on Monday, Premier Doug Ford nodded towards municipalities using a clause that once invoked, allows governments to pass legislation that can essentially override certain protections under the Charter of Rights and Freedoms.
“Why don’t we put in use the notwithstanding clause, or something like that?” the premier stated. “Let’s see if they have the backbone to do it.”
On Thursday Nuttall met the premier’s comments with the letter Ford was demanding from various big city mayors as they pressure other levels of government for additional support to address the growing issue of encampments in open areas.
“We have hit a critical mass here in terms of the number of encampments, the number of tents, the number of incidents, the number of fires, and the number of people who are feeling insecure inside of our public spaces that we need to, we need to be able to have movement,” Nuttall said.
Barrie, like many municipalities are dealing with encampments taking over public parks, but multiple Ontario courts have ruled against mass evictions, saying those individuals have rights. Cities have been told unless they have available space in the shelter system to house all residents of an encampment it must remain in place.
“These are pretty legitimate concerns that we’re seeing throughout our community,” Nuttall said ahead of sending the letter. “The idea that there would be a time in society where we’re going to put the priorities of traumatized adults over the innocence of a child, to be able to play in a park or a family, to be able to walk through a park; that’s not an idea that I think I can live with anymore.”
“We know there’s going to be blowback. It’s already started,” Nuttall said. “We’ve seen it on social media for weeks. But the reality is we’re also facing from moms who want their kids to be able to go down a slide without landing on a needle from people who want to be able to live in their houses.”
https://barrie.ctvnews.ca/barrie-mayor-leading-charge-to-push-province-to-use-controversial-legislation-to-address-homeless-encampments-1.7093977
How the Poilievre Tories think they’ll beat Canada’s conservative urban curse
Right-leaning parties west of Ontario have been left with just a handful of urban seats after October’s provincial elections, but pundits say this won’t necessarily slow down Conservative leader Pierre Poilievre’s momentum in major cities , so long as he stays focused on the issues affecting urbanites.
“My sense, from people I talk to, is that the Conservatives are still in pretty good shape here,” said Matt Spoke, a Toronto-based real estate investor and tech entrepreneur.
“Between (Prime Minister Justin) Trudeau being as unpopular as he is and Poilievre hitting the right notes on housing, which is the top issue in urban areas, even people who are usually apolitical are talking openly about voting Conservative,” said Spoke.
Spoke said that the pull is especially strong among urban millennials looking to start families.
Housing and affordability were among the key issues in July’s byelection in Toronto—St. Paul’s, where Conservative Don Stewart pulled off a surprise win .
Multiple sources also pointed to Poilievre’s edge over Trudeau on law-and-order issues, including the drug and homelessness crisis in major cities.
Bryan Breguet, who stood for the B.C. Conservatives in a competitive southern Vancouver riding, said that Poilievre’s pithy pledge to “stop the crime” and “end the drugs” seemed to resonate especially well with ethnic communities in his district.
“When I’d talk to Chinese voters, it was clear how much they hated the Trudeau/Eby drug policies ,” said Breguet, referring to the short-lived experiment with decriminalizing drug use in public spaces. “As soon as the drug issue came up at the doors, you could just feel the mood change.”
Breguet narrowly lost his own race but says he’s optimistic about the federal Conservatives’ chances in multi-ethnic parts of the city. “(Poilievre) will get practically every voter who voted for us, plus a few more who hate Justin Trudeau but didn’t hate (B.C. Premier) David Eby quite as much.”
https://www.msn.com/en-ca/news/canada/poilievre-can-still-win-in-cities-despite-urban-rural-provincial-divide-say-tory-urbanites/ar-AA1thSyU
California’s Proposition 36 aims to force drug offenders into treatment. Would it help solve homelessness?
San Jose Mayor Matt Mahan wants you to know that Proposition 36 is about more than just cracking down on retail crime.
Mahan — one of the statewide ballot measure’s most vocal supporters — argues passing the initiative to toughen penalties for low-level theft and drug crimes would also help solve California’s intertwined homelessness and addiction crises by making it easier for judges to order drug offenders into treatment.
“When someone is repeatedly breaking drug laws and using meth and fentanyl in public parks and passed out high on hard drugs on the sidewalk, we have a duty to intervene,” he said.
Proposition 36 seeks to roll back parts of a landmark crime reform measure to alleviate overcrowded state prisons that voters approved in 2014. That law, Proposition 47, reduced penalties for drug possession and theft under $950 to misdemeanors. It also directed millions of dollars saved by locking up fewer people to fund treatment programs.
But after videos of brazen retail thefts flooded social media — reflecting crime surges in some cities — and statewide opioid deaths more than doubled since the start of the pandemic, many blamed the 2014 reform measure. In June, Proposition 36 qualified for the ballot with the support of many prosecutors, law enforcement unions and lawmakers from both parties.
Mahan’s fellow Democrat, San Francisco Mayor London Breed, also backs the proposition. Democratic Oakland Mayor Sheng Thao has declined to take a position while at the same time signaling support for tougher criminal penalties.
Proposition 36 would empower district attorneys to charge people caught stealing or possessing drugs of any value more than twice with a felony. It would also create a “treatment-mandated felony,” which would allow judges to order repeat drug offenders into a treatment program or impose jail or prison time.
Measure backers argue the new felony charge is needed to reverse a dramatic drop in participation in drug courts after Proposition 47. One report found participation statewide fell 67% between 2014 and 2018. Mahan linked the decline to a 60% surge in homelessness over the past decade, bringing the state’s unhoused population to more than 181,000.
“You see a decline in participation in drug court — it follows from that that you see less engagement for treatment from the people who most need it,” he said.
Regardless, it appears likely Mahan has backed a winner. According to an October poll by the Public Policy Institute of California, 73% of voters support Proposition 36.
https://www.msn.com/en-us/news/us/californias-proposition-36-aims-to-force-drug-offenders-into-treatment-would-it-help-solve-homelessness/ar-AA1tixeh
Joining Beverly Hills and Coronado in rebelling against state housing rules: this blue collar city
In August, the Norwalk City Council approved one of California’s most drastic anti-homeless laws in recent memory. The law not only prohibits the construction of shelters and homeless housing, but also blocks new laundromats, liquor stores, payday lenders and other businesses that predominantly serve the poor.
Soon after, Gov. Gavin Newsom accused Norwalk of violating housing state laws, the latest in a succession of communities in the governor’s crosshairs in recent years. But Norwalk stands out from the places like Beverly Hills, Coronado, Huntington Beach and La Cañada Flintridge that Newsom has said have failed to do their part to address California’s housing problems.
Norwalk is not a white, wealthy enclave, but rather a Latino-majority, working- and middle-class community. Elected leaders in the city of 100,000 said they feel like Norwalk has been treated as a dumping ground, forcing officials to dig deep in the budget to deal with an influx of homeless residents and broken promises from other agencies.
“Why is always Norwalk the pinpoint for these programs?” asked Councilmember Rick Ramirez. “Where’s the assistance from the other surrounding cities? We’ve decided to stand up for ourselves.”
Norwalk’s law, which places a moratorium on new homeless shelters and the targeted businesses until at least August 2025, has already had an impact. County officials canceled a hotel leasing effort that aimed to shelter 80 people living along the 105 Freeway and elsewhere on city streets. Newsom’s administration revoked state approval for the city’s housing development blueprint, making Norwalk ineligible for some affordable housing dollars. A lawsuit against Norwalk is forthcoming, the governor warned.
Norwalk is one of what’s known as the Gateway Cities, inner ring suburbs on the southeastern L.A.-Orange County border that rapidly turned from white working class to majority Latino in the 1980s as the region’s overall demographics shifted. Some communities, such as Bell Gardens and Maywood, became some of the poorest and overcrowded in the nation.
But others, including Norwalk, maintained high rates of homeownership and relative affluence even as its demographics changed. Today, nearly three-quarters of Norwalk’s homes are owner-occupied and its median household income, though far below Beverly Hills’, is higher than the county average.
A mix of county, state and federal dollars has gone toward leasing and purchasing motels to use as shelters and supportive housing since the COVID-19 pandemic.
The first one in Norwalk, a conversion of a 210-room hotel occurring within weeks of Newsom’s spring 2020 stay-at-home pandemic order, caused numerous problems, city leaders said. Police calls were up and so were resident complaints about panhandling. More than 300 people were unaccounted for by service providers when the site closed 16 months later, city officials said, which they believed caused Norwalk’s homeless population to almost double.
The county planned to renew shelter operations on the property until Norwalk’s law scuttled the decision.
A second site, a Motel 6 turned into a 56-room shelter, also had problems, adjacent business owners said. Jason Perez, who operates a diner, Mr. Rosewood Family Restaurant, next door to the motel, said circumstances were “a disaster scene every day from 6 a.m. to 10 p.m.”
“We’ve seen a lot of hanging out, a lot of loitering, a lot of stuff that people don’t need to see when they’re going to go eat with their families,” Perez told the city council at a meeting last month.
Some of Norwalk’s concerns were validated in court. While Los Angeles County Superior Court Judge James Chalfant ruled in January 2021 that the county could operate the hotel conversion program in Norwalk, he blasted the county’s lack of regard for the city’s troubles at the 210-room site. Chalfant called the project “a public nuisance” and criticized the county for not spreading locations for the program, known as Project Roomkey, equitably across the region.
“The county has concentrated most of the Project Roomkey facilities in working class, minority communities like Norwalk,” Chalfant wrote.
https://www.msn.com/en-us/news/us/joining-beverly-hills-and-coronado-in-rebelling-against-state-housing-rules-this-blue-collar-city/ar-AA1tfWZc
‘Never thought leopards would eat my face!’ Economist likens MAGA voters to famous meme
Many supporters of former President Donald Trump will sorely regret if he wins, Nobel Prize-winning economist turned political analyst Paul Krugman wrote for The New York Times.
That’s because, he said, they’ll get hit in the wallet by his proposals, just like everyone else.
One of the biggest and most obvious examples of this, he wrote, is Trump’s promise to enact massive new tariffs on all consumer goods, which economists have warned would be a disaster for price stability and economic growth.
It’s like the infamous meme from a 2015 tweet, Krugman noted: “‘I never thought leopards would eat MY face,’ sobs woman who voted for the Leopards Eating People’s Faces Party.”
If Trump wins, he wrote, the leopards will eat your face.
And that’s just the beginning of the pain, wrote Krugman. Trump has also pledged to hire tech billionaire Elon Musk to oversee a new commission that will cut “at least $2 trillion” of supposedly deadweight government spending.
“Those remarks alone tell you two things. First, that Musk doesn’t understand federal spending. Second, a new Trump administration would probably inflict a lot of hardship on millions of Americans, and it’s unlikely that it would be temporary.”
The fact is, Krugman wrote, that despite MAGA supporters’ feelings to the contrary, “America’s economic performance under the Biden-Harris administration has been very good, especially compared with that of other countries. We’ve grown much faster than any other major wealthy nation” — and inflation has plunged back to normal levels as well.
“If he wins, many Trump voters are likely to experience buyer’s remorse,” concluded Krugman — and the only question will be whether America will have a free and fair election in 2028 to hold him accountable.
https://www.msn.com/en-xl/news/other/never-thought-leopards-would-eat-my-face-economist-likens-maga-voters-to-famous-meme/ar-AA1tiMq6
The fact is, Krugman wrote,
That’s Oxymoronic.
And that’s just the beginning of the pain, wrote Krugman. Trump has also pledged to hire tech billionaire Elon Musk to oversee a new commission that will cut “at least $2 trillion” of supposedly deadweight government spending.
“Those remarks alone tell you two things. First, that Musk doesn’t understand federal spending. Second, a new Trump administration would probably inflict a lot of hardship on millions of Americans, and it’s unlikely that it would be temporary.”
Oh, I’m sure Musk understands Federal spending, and how wasteful it is, just fine.
That must truly terrify them. Imagine that, millions of deadbeats would have to get real jobs where they actually produce something of value, something people would willingly purchase.
This Musk project to take a hatchet to the federal guberment must have Keynesians in stark theoretical terror. Imagine not spending for it’s own sake? Digging trenches and filling them back in is going to be the first to go!
There have been some late and interesting twists to this election. You can’t say it’s been boring.
And you, Mr. Krugman, do not understand how to use the word “supposedly”.
It is truly insulting how the people who brought us high inflation are warning us that DJT will usher in high inflation.
You know i am big Tom MacDonald fan so here is todays video, a canadian who loves america…….”Goodbye Joe” – Tom MacDonald ft. Nova Rockafeller https://www.youtube.com/watch?v=nQOqExemZvk
Has the time arrived for you to join the throngs leaving California for greener pastures?
Real Estate
The California exodus has continued. Here’s where most people leaving the Golden State moved to — and why.
Erin Snodgrass, Alcynna Lloyd, and Noah Sheidlower
Oct 27, 2024, 11:04 AM PDT
An aerial view of neighborhood with houses lining a curved street.
Art Wager/Getty Images
– Between 2022 and 2023, more than 690,100 people left California, new census data indicates.
– Movers were motivated by economic and personal reasons, such as the cost of living and homeownership.
– An estimated 422,000 people also moved into the Golden State during that same time period.
…
https://www.businessinsider.com/most-people-leaving-california-moved-to-these-states-2024-10
What would be the “buyers remorse” if Harris/Walz
got in the White House?
I would venture to say that the demise of the USA would be assured by 2030, as planned, and the One World Order dictorship and genocide and enslavement of humanity will commence.
What would be the “buyers remorse” if Harris/Walz got in the White House?
Being that about half the country doesn’t seem to care about the cost of living crisis, rising crime, global war breaking out, the invasion, etc., I’m not sure what they would feel buyer’s remorse about. I think they would insist that it was “worth it” even if nukes were to rain down on major metros. Plus they would just blame it on DJT, even as they’re being vaporized.
Apparently voters on both sides of the aisle are fully convinced we’re all doomed if the other party’s candidate wins.
Prediction: The world will keep spinning beyond next Tuesday, and probably even beyond 2030, no matter the election results.
The world will keep spinning
regardless of our condition.
^^^^^
That is the nugget of truth!
2030???
Man you’re an optimist.
Did a hurricane blow away your job opening?
US labor market staggers after blow from hurricanes, strikes
By Lucia Mutikani
November 1, 2024 10:10 AM PDT
Updated 2 hours ago
– Nonfarm payrolls increase by 12,000 in October
– Aerospace strikes cut manufacturing jobs by 46,000
– Jobless rate unchanged at 4.1%, labor force shrinks
– Payrolls survey response rate lowest in over 30 years
WASHINGTON, Nov 1 (Reuters) – U.S. job growth almost stalled in October as strikes in the aerospace industry depressed manufacturing employment while hurricanes shortened the collection period for payrolls, making it hard to get a clear picture of the labor market ahead of next week’s presidential election.
…
https://www.reuters.com/markets/us/us-job-growth-slows-sharply-october-unemployment-rate-unchanged-41-2024-11-01/
“Jobless rate unchanged at 4.1%, labor force shrinks”
Homelessness is good for the jobless rate.
If there’s an upside to the dismal payrolls survey report, certainly inflation expectations must have been tempered as a result, providing long-term Treasury yields a breather from their recent moon shot.
Right!?
A weak jobs report couldn’t stop 10-year Treasury yields from rising
Story by Vivien Lou Chen
• 2h
It took less than four hours for the impact of Friday’s weak nonfarm payrolls report for October to fade, as bond-market traders shook off the surprising data and sent the benchmark 10-year yield toward its highest levels since early July.
…
https://www.msn.com/en-us/money/markets/a-weak-jobs-report-couldn-t-stop-10-year-treasury-yields-from-rising/ar-AA1tlG7n
It’s almost at 4.4. Rate daters be bummin’!
Finance·Real estate
The anticipation of a Trump win is sending mortgage rates soaring. Top economists say scorching inflation is very likely to go with it
BY Alena Botros
October 31, 2024 at 11:59 PM PDT
…
https://fortune.com/2024/11/01/donald-trump-mortgage-rates-harris-inflation-election/
Scratching my head on that one.
“The anticipation of a Trump win is sending mortgage rates soaring. Top economists say scorching inflation is very likely to go with it”
There should be a media blackout prior to an election.
Kennedy Journey to Trump
Robert F. Kennedy Jr.
1 hour ago
Thanks, Eric Trump. The only thing that will save our country is if we choose to love our kids more than we hate each other. Instead of vitriol and polarization, I will appeal to the values that unite us.
https://www.youtube.com/watch?v=ngTMI_4aTC0
3:36.
many in the housing market are analyzing the recovery efforts after natural disasters like Katrina to predict what the region’s long path back to normalcy looks like. ‘Because a lot of housing was damaged and destroyed — and costs for construction go up because there’s a lot of rebuilding that’s happening — prices go up’
That was 2005 Angela, a completely different part of the bubble than 2024. I blogged about the whole sorry debacle. It ended in tears.
‘People are nervous about what their properties are worth, but believe it or not, their lot value is worth a lot of money, so take that into consideration before selling it at a moment’s notice… the property is worth a lot and the structure is worth money as well’
It’s worth money alright Connie. I read they got one pile of sh$t in Asheville that will take 70,000 truck loads to remove. Yer about to find out how much those desolate lots on the sand bars are worth here today.
Yer about to find out how much those desolate lots on the sand bars are worth here today.
If the houses and all foundations are removed from the barrier islands and all beach renourishment activities ceased, the ocean would start reclaiming it’s own, as it has been doing for the past eons.
‘Buyers are very cautious when it comes to affordability, the price that they’re paying. I feel like sellers can’t really get top dollar unless they’re adding value, unless they’re providing a competitively priced home or if they have a unique property that people want’
Let’s be clear here Kevin, it’s still a sellers market in Sacramento.
‘lacklustre demand and slowed home sales in London also appear to be forcing prices on new homes to drop, the latest market snapshot from Statistics Canada shows. Since August 2022, when the market peaked locally, prices have dropped by about 3.1 per cent, reversing years of steady increases’
They have a yuuge increase in new build igloos in London, now on sale. Undercutting the existing market of course.
‘Calgary’s rental market has gone through a major shift in recent years. But some say the height of the market may have come and gone, and that the trend of rapid growth now seems to be tapering off. ‘We have to be realistic — I think we have peaked here right now…renters have choice now’
Calgary RE got out of sync with K-da in the post 2014 oil bust Mike. Maybe they are about to line up again.
‘Generally speaking, values across Tamaki Makaurau Auckland are still around 21-24% lower than the post-COVID peak (apart from a drop of closer to 26% in Waitakere), while the falls since the more recent ‘mini peak’ at the start of this year have typically been between -7% and -9%’
Well done with the ‘mini peak’ there Kelvin, the market needs knife catchers.
‘Another woman, who asked not to be named, said she put down a $34,000 deposit for one of the apartments in May 2022. She said she was at the point where she just wanted to exit the contract but had been advised by a lawyer that this was not an option. ‘It is quite stressful and it is taking a toll on me and my work,’ she said. ‘You feel defeated. And I’ve done nothing wrong’
Who said anything was wrong woman who asked not to be named? It was an a$$ pounding simple as that. But you got off easy truth be told. A lot of the poor bashtards on that gotforsaken sh$thole lost almost the whole shack price. They borrowed 80% down on something that doesn’t exist.
Stuck In A Disaster You Could Have Avoided (Peel Region Real Estate Market Update)
Team Sessa Real Estate
22 minutes ago MISSISSAUGA
This episode shows the current Brampton, Mississauga, Ajax, Whitby, and Pickering Real Estate home prices and market trends for the week ending Oct 23, 2024. We also discuss how this couple is looking to sell, very shortly after buying, because their next-door neighbour has given them nothing but headaches since the moment they first went to look at the property.
https://www.youtube.com/watch?v=J2aCjTxWw6Y
15:43.
Robert F. Kennedy Jr. Delivers Remarks in Warren, MI
Right Side Broadcasting Network
1 hour ago
President Donald J. Trump, 45th President of the United States of America, will deliver remarks at a rally in Warren, Michigan, on Friday, November 1, 2024.
https://www.youtube.com/watch?v=M2PDQ-AGbN4
10 minutes.