skip to Main Content
thehousingbubble@gmail.com

It Is Crickets, Buyers Have Checked Out, Nothing Happening

A report from the Coeur d’Alene Press in Idaho. “Meet Nick Shriner, who is originally from the scenic landscapes of Wyoming — yes, it’s a real state — and made his way to Coeur d’Alene in 2010. His dedication to the real estate realm was further exemplified when he joined the Coeur d’Alene Regional Realtors board in 2021. What is shaking in our local real estate world these days? In 2024, our local real estate market has eased up a bit, marking a healthy shift from the fast-paced sellers’ market of recent years toward a more balanced environment. Buyers now have the opportunity to explore more homes thoughtfully. Additionally, new construction is up 20% from last year, expanding the range of options available to buyers. There are now approximately 2,200 Realtors in Kootenai County, most of whom joined within the last five years. I’d bet that everyone reading this knows at least a couple of Realtors! But the biggest change by far has been home values. When I first started, the median home price was around $200,000, and today, it stands at about $530,000.”

From Willamette Week. “Last week, Portland’s only Cinnabon, which operated in the Lloyd Center Mall, closed up shop. That is a sufficient explanation for why Oregonians are moving to other states. Nonetheless, people continue to search for other ways to explain the population loss. Here’s what our readers had to say: Appropriate-Owl7025, via Reddit: ‘Oregon is more expensive than the jobs that pay to work here. It’s pretty simple. It’s a high-cost outdoor recreation state now.’ Mobile-Effective-988, via Reddit: ‘Jobs are sparse, pay is god awful, housing is overpriced, groceries are just as bad. Pay raises amount to pay cuts ‘cause they don’t rise to match the rate of inflation. I love this state, but I feel like this state doesn’t want me to live here.'”

“David Visse, via wweek.com: ‘I highly suspect the reality of those leaving; lower costs is more of a bonus than the reason. The reason is crime, homeless, riots, failing Portland public schools, rampant open drug use, public (and I mean very public) restrooms, among others. Add extremely high taxation on top of it, and you get ‘Goodbye!’ In addition, no one in their right mind will move here to start business, horrible environment for that.’ Roberta Nopson, via Twitter: ‘Moving to Free States and away from Oregon leadership that has sunk the state financially and education.'”

The Colorado Sun. “Now that the election is over, the Colorado housing market seems primed for buyers this winter. ‘Affordability is a challenge and is at its highest level of concern in the past couple of decades,’ said Cooper Thayer, a Denver-area Realtor at The Thayer Group. ‘One of my specific concerns is the condo market, which has really struggled.’ In Denver, median condo sale prices dropped 6.5% to $402,000 while the number of sales fell 12.9%. Statewide, condo prices fell 4.5% and sales dropped 5.1%. But what doesn’t show up in Denver County’s numbers could be a good sign for house hunters who’ve been priced out. The county had a 37.6% increase in home sales in October and 55% of the closed transactions had some sort of seller concession, Thayer said. The average was $8,760, which can be anything from a rate buydown or the seller covering closing costs or the cost to fix items after an inspection.”

“Concessions don’t always affect the sale price and don’t show up in the monthly data. ‘Being that half of the transactions had a concession,’ Thayer said, ‘when you reframe how you’re thinking about pricing and put it into a net number, it may actually be a little bit lower than the prices that are being reported.’ Sellers were negotiating ‘and dropping their prices to get their places sold before the snow flies,’ according to Dana Cottrell, a Realtor in Summit County. Inventory for Summit, Park and Lake counties was up 30% while median prices were down 13%. Jay Gupta, a Colorado Springs Realtor, noted that 44.2% of active homes for sale reduced the price in El Paso County last month, while Teller County saw 30.7% cut prices. ‘Buyers currently have excellent opportunities due to high inventory levels, motivated sellers, and dropping interest rates,’ Gupta said.”

“Affordability is still one of the biggest issues in the area, said Patrick Muldoon, head of Muldoon Associates in Colorado Springs. ‘On my side, it is crickets. Part of it may be the mental side of the election. But I believe it is still affordability and the economy. Buyers have checked out,’ Muldoon said in an email, adding that showings have slowed as a result. ‘I don’t think I have ever seen stagnation in the housing market like this. Nothing happening.'”

The Miami Herald. “The cost of living in South Florida usually heads in one direction: Up. But apartment hunters have reason to rejoice. Rents have been on the decline for the past two years. You read that right. In the land of soaring real estate prices — the cost of a house, the soaring association fees for condo owners — rents are down in Miami-Dade, Broward and Palm Beach. What’s behind the fall in rents? Developers keep building, surpassing the level of demand, said Daryl Fairweather, chief economist at Redfin. ‘Florida benefited from remote work during the pandemic because of the lifestyle, but then with all of those people rents went up,’ Fairweather said. ‘Development increased to meet demand, which brought up inventory and mitigates rent increases.'”

From NBC Miami. “District 37 runs from Sunny Isles Beach up to the Palm Beach County line. It is one of the Florida senate districts with the highest concentration of condo units. ‘We’re a truck full of condos,’ said State Senator Jason Pizzo, a Democrat who represents district 37 in Tallahassee. Pizzo also lives in a condo and says he hears from concerned condo constituents every day. ‘We saw for an entire generation people were waiving reserves, which was allowed by law, and really just sort of passing the buck, kicking the can, deferring maintenance,’ Pizzo said. ‘The reality is you can’t slow down father time and mother nature is undefeated, right? So whatever we do up in a chamber in Tallahassee is not gonna slow down or stop the aging of a roof or other structural components.'”

“South Florida real estate company ISG World showed in the third quarter of 2024, there were 20,080 active condo listings in Palm Beach, Broward and Miami-Dade counties. Of those listings, 85% (17,041) were for condos in buildings that were older than 30 years. ‘The 30-year plus, that is very, very difficult to sell right now because of the fear of special assessments,’ said Craig Studnicky, CEO of ISG World. ‘I think the state of Florida is gonna have to help these condominium associations finance these special assessments.’ Pizzo said that is not likely to happen. ‘There’s no state bailout coming,’ Pizzo said. ‘There’s no financing coming from the state. It’s just, the numbers are not there. The resources aren’t there.'”

From Hey Socal. “A grand jury in Los Angeles has indicted 14 people accused of perpetrating a more than $3 million mortgage fraud scheme in five Southern California counties and the Sacramento area, state Attorney General Rob Bonta announced Friday. The unsealed grand jury indictment is against the owners of three mortgage brokerage firms and 11 affiliates allegedly involved in using fraudulent applications and financial documentation to obtain eight loans totaling $3.69 million. Unsuspecting borrowers then used fraudulent loans to buy properties in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Sacramento counties.”

“State prosecutors allege the brokers submitted loan applications that contained inaccurate information about their clients’ income, employment details and in some cases divorce documentation. The firms provided lenders with falsified documents, including pay stubs, W-2 forms, alimony checks and child support payments, ‘in an effort to mislead lending institutions into approving and issuing mortgage loans,’ according to Bonta’s office. ‘Clients placed their trust in the defendants to secure a home loan, only to find themselves burdened with unexpectedly high mortgage payments and inaccurate documentation,’ according to the AG’s office.”

The Globe and Mail in Canada. “Toronto realtor Scott Ingram tracks membership at the largest real estate board in the country, the Toronto Regional Real Estate Board. The drop at peak renewal time – from December, 2023 to January, 2024 – was 8 per cent (to about 69,000 from the December peak of 75,496), making it the steepest fall since 1991. The reality is that a huge volume of TRREB agents aren’t doing much actual home selling. ‘According to my research through a third-party company that tracks transactions, just over 43,000 agents were credited with one or more transactions in the past 12 months,’ said David Fleming, a broker with Bosley Toronto Realty Group Inc. ‘Over 14,000 agents were credited with exactly one transaction.’ By process of elimination, that means almost 30,000 TRREB agents did no transactions at all.”

Global News in Canada. “Ontario’s financial watchdog is pouring fresh cold water on the Ford government’s ambitious plan to build 1.5 million new homes by 2031, with a new report signalling construction continues to stall and the number of new single-family homes is at its lowest in almost 70 years. ‘Construction of single detached homes has been weak so far in 2024 and is on track for the lowest level of annual starts on record back to 1955,’ the Financial Accountability Office of Ontario’s report said.”

The BBC on Wales. “Buying a home on a brand new estate is meant to offer peace of mind, free from the potential pitfalls of older homes. But people living on Fern Meadow in Wrexham have been plagued by issues including unfinished roads and pavements, flooding, and loose sockets and holes in their ceilings. The 360-home development was built in 2020, but most of the estate’s roads and pavements are yet to be surfaced. For James Evans and Melissa Brimer, who moved in just over 18 months ago, it is the look of the estate that is a big concern, with unfinished roads and makeshift ramps. Mr Evans said the ‘lack of communication’ and ‘poor after-sale care’ was frustrating.”

“Another resident, who did not want to give their name, said he and his partner commissioned their own independent engineering report after persistent flooding in their garage, driveway, and garden. They also notified the National House Building Council about issues inside including a sinking kitchen floor and a gas leak which left them with no heating, but said developers seem ‘not to be answerable to anyone’ ‘You are left in a wilderness. You would have better consumer protection if you were buying a pair of shoes,’ they added.”

Radio New Zealand. “Wellington’s average rate of home value decline slowed to 2.3 percent from 3.2 percent in the previous three-month period. ‘Heightened job insecurity is being more keenly felt in the capital. Otherwise, most of New Zealand’s other main centres appear to be bouncing along the bottom now,’ QV operations manager James Wilson said. ‘Prospective buyers have to weigh up the benefits of falling interest rates and having a smorgasbord of properties to choose from, versus rising unemployment and increased job insecurity.'”

The Herald Sun in Australia. “Six of the 10 areas with the best performing home values since the last federal poll are held by Coalition politicians, according to CPA Advisory analysis. By contrast, typical prices in the seat of Goldstein held by Teal independent Zoe Daniel have plunged more than $330,000 – the biggest drop of any federal electorate in the state, and the third worst in the country. The next poorest performing area was Melbourne, the seat held by Greens leader Adam Bandt — down almost $170,000. Property Investors Council of Australia director Ben Kingsley said with most people linking the federal government with the economy’s performance – and property values the method by which most homeowning voters would use to rate their elected representatives – Victoria’s broad decline in prices was likely to ‘show up in ballot boxes.’ ‘We saw what happened with the Trump rebirth: do people feel better off or worse off under the current leadership?’ Mr Kingsley said.”

“He added that the coming election would also test how much people are willing to accept home values falling as a social good while they are paying potentially seven figures in interest to their bank over a 30-year loan. ‘At some stage there’s a tipping point of just how much they will accept,’ Mr Kingsley said. ‘I think you will see that they won’t tolerate it — as long as they are aware of it. And if they aren’t aware in this election cycle, they will be in the next federal electoral cycle.'”

This Post Has 89 Comments
  1. ‘Sellers were negotiating ‘and dropping their prices to get their places sold before the snow flies,’ according to Dana Cottrell, a Realtor in Summit County. Inventory for Summit, Park and Lake counties was up 30% while median prices were down 13%’

    It’s a good thing everybody put 20% down Dana!

  2. ‘Clients placed their trust in the defendants to secure a home loan, only to find themselves burdened with unexpectedly high mortgage payments and inaccurate documentation’

    Senator running deer heap angry Rob!

  3. In Denver, median condo sale prices dropped 6.5% to $402,000 while the number of sales fell 12.9%. Statewide, condo prices fell 4.5% and sales dropped 5.1%.

    Denver is finished. Colorado Springs isn’t far behind, for the same reasons.

  4. Now that the Democrats’ humiliating electoral defeat has gone into the record books, the remaining processes are beginning to unfold. The driving force for this is not Mr. Trump’s popularity or Harris-Walz’s lack thereof. It is the long overdue awakening of the formerly free-living American public to the accumulated tyranny of the modern mega-state.

    https://www.americanthinker.com/blog/2024/11/one_theory_for_the_democrats_catastrophic_loss.html

  5. Jay Gupta, a Colorado Springs Realtor, noted that 44.2% of active homes for sale reduced the price in El Paso County last month, while Teller County saw 30.7% cut prices.

    CoS shacks are still ridiculously overpriced. If Trump and his DOGE make good on their pledge to cut the bloated federal monstrosity down to size, the five military bases in the CoS area will see big reductions in force among FedGov employees and contractors, which will up until now has helped prop up the CoS-area housing bubble.

  6. ‘I think the state of Florida is gonna have to help these condominium associations finance these special assessments.’

    Think again, Craig. Hard-pressed taxpayers are under no obligation to bail out feckless Boomers who thought they could play extend and pretend until shuffling off this mortal coil.

    1. I think the state of Florida is gonna have to help these condominium associations finance these special assessments.’
      Come on, we all know the key to happiness and wealth is other people’s money. Other people’s money (Socialism) is always the answer.

  7. The firms provided lenders with falsified documents, including pay stubs, W-2 forms, alimony checks and child support payments, ‘in an effort to mislead lending institutions into approving and issuing mortgage loans,’ according to Bonta’s office.

    I tremble when I think of Fauxahontus coming down on such scofflaws in all her fury. Their mothers will weep when they see what Senator Running Deer has done to them.

  8. ‘Over 14,000 agents were credited with exactly one transaction.’ By process of elimination, that means almost 30,000 TRREB agents did no transactions at all.”

    Oh dear. This looks like an extinction-level event hitting this industry of dissemblers. When will AI-enabled disrupters render UHSs obsolete?

  9. Kash Patel taking an iron broom to the corrupt, weaponized FBI would be one of the most glorious outcomes of the 2024 Trump Revolution. Senior FBI officials who have served as DNC Chekists in riding roughshod over Democrat-Bolshevik political opponents must be gobbling Xanax by the handful at the thought of their abuses of authority catching up with them.

    https://x.com/Jesse_Morgan_/status/1857813924579586463

    1. Former CIA director @JohnBrennan: @TulsiGabbard “doesn’t have the type of perspective needed” to be director of national intelligence

      https://x.com/tomselliott/status/1857176075429728325

      This SOS hacked the computers of an entire senate committee that was investigating the CIA. Spied on a presidential candidate, then spied after he was elected, and took part in the hunter laptop cover up. Fook you jonnie.

  10. Pennsylvania Democrats openly admit to counting illegal ballots in McCormick-Casey race

    https://www.yahoo.com/news/pennsylvania-democrats-openly-admit-counting-130613207.html

    As the contested Pennsylvania Senate race barrels towards a $1 million recount, Democratic officials in a few blue counties are openly admitting to counting disqualified ballots in defiance of state law and court orders.

    The Associated Press has called the race for Republican Sen.-elect Dave McCormick, who currently holds a 26,000 vote lead over incumbent Democratic Sen. Bob Casey. But Casey has refused to concede and insisted that every vote be counted. The close margin – within one percentage point – triggered an automatic recount under Pennsylvania law.

    Yet the critical question is which votes should be counted? The Pennsylvania Supreme Court ruled before the election that mail ballots lacking formally required signatures or dates should not be included in official results. However, Democratic officials in Philadelphia and surrounding Bucks, Centre and Montgomery counties are ignoring that court order.

    “I think we all know that precedent by a court doesn’t matter anymore in this country,” Bucks County Commissioner Diane Ellis-Marseglia, a Democrat, said Thursday as she and other Democrats voted to reject a GOP-led challenge to ballots that should be disqualified.

    “People violate laws anytime they want. So, for me, if I violate this law, it’s because I want a court to pay attention. There’s nothing more important than counting votes.”

    Officials estimate there are fewer than 80,000 provisional ballots left to be counted across the Keystone State, less than two percent of the vote, the Philadelphia Inquirer reported. While the chance that Casey could make up his deficit is small, his attorneys and McCormick’s have repeatedly clashed at county commissioner meetings this week as local officials have debated over whether to count small handfuls of ballots.

    Democrats insist they are acting in good faith in believing that rejecting someone’s vote because of a clerical error violates their constitutional rights.

    In Montgomery County, for example, officials deliberated for 30 minutes over whether about 180 provisional ballots without secrecy envelopes should be counted. The Inquirer reported that several of these votes came from the same precincts, suggesting an error made by poll workers.

    Democratic board chair Neil Makhija voted to accept the ballots so that voters would not be disenfranchised. But other members of the board, including one Democrat and a Republican, voted to reject the ballots on the advice of county attorneys who determined the law clearly states they should not be counted.

    “We’re talking about constitutional rights and I cannot take an action to throw out someone’s ballot that is validly cast, otherwise, over an issue that we know … is immaterial,” Makhija said during Thursday’s meeting. The board ultimately voted to count a total of 501 contested ballots.

    1. Democrats insist they are acting in good faith in believing that rejecting someone’s vote because of a clerical error violates their constitutional rights.

      Oh the irony. The Marxist-Leninist party that never misses an opportunity to trample on the Constitution now wants to hide behind it.

      1. “I think we all know that precedent by a court doesn’t matter anymore in this country …”.

        “People violate laws anytime they want. So, for me, if I violate this law, it’s because I want a court to pay attention.”

    2. So I gather that in Pennsylvania, local boards can get away with deciding which Pa laws are valid and which are not. What law enforcement entity is charged with enforcing Pa laws?

  11. “Buyers currently have excellent opportunities due to high inventory levels, motivated sellers, and dropping interest rates,’ Gupta said.”

    Dropping interest rates? This ought to tell ya how tuned in these guys are.

  12. There are now approximately 2,200 Realtors in Kootenai County, most of whom joined within the last five years. I’d bet that everyone reading this knows at least a couple of Realtors! But the biggest change by far has been home values. When I first started, the median home price was around $200,000, and today, it stands at about $530,000

    Most of those realtors are going to need to find a new job, and it will likely be a menial job.

    2200 realtors in a county with 170K people. What could possibly go wrong?

    1. Record High Migration From Poor To Rich Countries In 2023: Study

      I don’t think any “studies” were needed to know this. There were plenty of videos of third worlders pouring into “rich” countries as the border guards welcomed them.

  13. ‘On my side, it is crickets. Part of it may be the mental side of the election.’

    The market was dead as a doornail well before the election and remains very dead.

    So what did the election possibly have to do with it?

  14. For the European Union, and Germany in particular, Donald Trump’s election victory is so bad it’s good.

    By which we mean that the Republican sweep of the White House, the Senate and the House of Representatives represents such a grave threat to the EU’s wealth-creation machine that the EU – again, especially Germany – has no choice but to get off its aging, flabby buttocks and fight back to preserve all that is still fine and beautiful on the clapped-out continent. Mr. Trump’s arrival, and his threats to hammer EU exports with punishing tariffs – he once called the bloc a trade “foe” – are the kick the EU needs to reinvent itself. Like fast.

    But don’t count on it working. The EU’s problems are structural, not cyclical, and will not be easily fixed. The headline economic figures tell the story. The bloc’s per capita GDP is 30 per cent less than America’s. The GDP of the euro-zone countries (the 20 EU countries that use the common currency) is expected to expand by 1.2 per cent in 2025, according to the International Monetary Fund; the U.S. economy will grow next year by almost double that rate.

    Germany is the EU’s economic engine and manufacturing hub and has been living on borrowed time since the 16-year era of chancellor Angela Merkel ended in 2021. She left behind the foundations for economic malaise, even crisis, that could make the country a sitting duck for a Trump barrage.

    There’s more. Ms. Merkel handed Germany’s fleet of nuclear plants a death sentence after Japan’s Fukushima nuclear disaster in 2011. At the same time, coal-fired plants were to be phased out because they were incompatible with net-zero goals. That meant renewable energy – wind and solar – would have to fill the gap. They did not, far from it, and the virtual elimination of Russian gas made a bad situation worse. The last three German nuclear plants closed a year and a half ago under the now-collapsed coalition government of Ms. Merkel’s successor, Olaf Scholz, whose failure to reverse the nuke-elimination plan was a foolhardy exercise in self-sabotage.

    Now comes Mr. Trump and his rage against the EU export machine. He has mused about blanket tariffs of as much as 20 per cent on imports, not just those from the EU. While they may not be that high, targeted tariffs seem likely and European automakers would almost certainly get hit. “I want German car companies to become American car companies,” he told a rally in Georgia in September, implying that only foreign companies that produce autos in U.S. factories would receive merciful treatment – God help the ones that do not.

    https://www.theglobeandmail.com/business/commentary/article-spend-baby-spend-how-germany-could-buy-itself-economic-protection-from/

    1. But don’t count on it working. The EU’s problems are structural, not cyclical, and will not be easily fixed.

      They are blaming their own lack of competitiveness on DJT. When your energy costs are triple the US costs, you are committed to Net Zero by some arbitrary date, red tape is your top “industry” and you believe in the good news of socialism, of course you are aren’t going to be competitive, which is why VW is closing plants in Germany and will be ramping up production in existing plants outside the EU

      It will take an entirely new approach to right the ship, and it looks like EU voters might be willing to give those “far right” parties (which are still socialists, just less so) a chance.

  15. Biden and Harris Raided Medicare to Fund Green New Deal: Premiums Are Now Set to Spike

    When Democrats rammed through the Inflation Reduction Act during the days they controlled all of Washington, D.C., it ignited a chain reaction that led to higher Medicare costs for America’s senior citizens.

    “Nearly two years after its passage, the IRA has diverted nearly $260 billion from the projected Medicare ‘savings’ to pay for special interest handouts like large tax credits for costly electric vehicles, enormous subsidies paid to big health insurer-PBM corporations, and funding health care programs for illegal immigrants,” Ron Fitzwater, Chief Executive Officer of the Missouri Pharmacy Association, wrote in an Op-Ed in the Missouri Times.

    “The Biden-Harris administration is not protecting Medicare; they’re stealing from it,” he wrote.

    According to Politico, the chain reaction began when the act shifted the burden of paying for prescription medicine from seniors to insurance companies.

    Then came what could have been predicted: Insurance companies hiked their premiums for 2025.

    Fitwater, in his Op-Ed, said increases were coming in at 179 percent.

    But since that was going to hit right before the election, there was one more step – a federal bailout that has the taxpayer-funded federal treasury taking the hit for what the IRA caused.

    The IRA’s tinkering with Medicare also has impacted drug companies. A Wall Street Journal editorial explained the process.

    “The IRA let Medicare ‘negotiate’ prices for 10 to 20 drugs a year and a total of 60 by 2029. Negotiate is a euphemism for extortion: Drug makers that don’t participate or reject the government’s price face a daily excise tax that starts at 186% and climbs to 1,900% of a drug’s daily revenue,” the editorial began.

    “The law also requires manufacturers to pay the government rebates on medicines sold to Medicare if they raise prices more than the rate of inflation, and puts them on the hook for more of the entitlement’s Part D costs. Democrats used the resulting estimated ‘savings’ of some $160 billion to pay for the green new deal,” the editorial said.

    “But subsidized solar panels won’t help if you get sick. The inevitable, albeit invisible, result of Democrats’ raid on pharmaceutical companies will be fewer new medicines,” the WSJ editorial explained.

    https://www.msn.com/en-us/news/politics/biden-and-harris-raidedw-medicare-to-fund-green-new-deal-premiums-are-now-set-to-spike/ar-AA1udi9f

      1. Medicare was already a sinking ship.
        Totally unaffordable and with the exception of smoking, there is no “hit” for being unhealthy. You pay based on income not BMI, or Blood pressure or….
        Gotta blow up, eventually, and for what it’s worth my premiums are higher then my Cobra was but with that said, no one is gonna insure me for my current cost at my age as an individual policy.

  16. Patrons at Murph’s Tavern are toasting not just Donald Trump’s return to the presidency but the fact that he carried their northern New Jersey county, a longtime Democratic stronghold in the shadow of New York City.

    To Maria Russo, the woman pouring the drinks, the reasons behind Trump’s win were as clear in the runup to the election as the shot glasses lined up on the high-top tables. A mother raising two kids on her own in Passaic County on a barkeep’s income, she saw it not just in light of her own situation but those of the people around her.

    “Anybody can see what’s going on, you know? The prices of everything. And me being a single mom?” she said. “I notice that when I go shopping – just like everybody else does.”

    In West Oahu, for example, where many plantations have given way to suburban development, school teacher Julie Reyes Oda, a Republican, flipped one state House district in the heavily blue-collar, working-class town of Ewa Beach. In the district next door, state Rep. Diamond Garcia held on to a seat he turned Republican two years ago. Democrats still control supermajorities in both chambers, but the GOP’s nine House and three Senate seats are the most the party’s had in the Legislature since 2004.

    Newly elected Republican state Sen. Samantha DeCorte said voters in her Waianae district west of Honolulu have long been frustrated by a lack of resources for basic needs such as public safety. Residents feel like they have to look over their shoulders when they are pumping gas, DeCorte said.

    “They don’t want to go to the grocery store at night because they have to walk back to their car in the parking lot,” she said.

    Ramon Ramirez-Baez, a 66-year-old writer and community activist in the Queens borough of New York, said he voted for Trump and encouraged others to do so despite being a registered Democrat who had voted for Democrats in the past four presidential elections and even ran unsuccessfully for the Legislature as a Democrat.

    The native of the Dominican Republic, who came to Queens more than three decades ago, blamed Biden administration immigration policies for the explosion of prostitution, illegal brothels and unlicensed food carts that have bedeviled his neighborhood in recent years.

    https://myfox8.com/news/national/ap-us-news/ap-from-new-jersey-to-hawaii-trump-made-inroads-in-surprising-places-in-his-path-to-the-white-house/

  17. In their own words: Trump supporters explain the hope they feel for his second presidency

    David Rose is a 43-year-old steelworker from Indian Head, Pennsylvania. He drives about an hour each way to his job at a U.S. Steel plant just outside of Pittsburgh.

    What is the first thing you’d like President Trump to do when in office to make your life better? The first thing I would like to see happen is mass deportations of illegals, and finish building the wall.

    Juan Felipe Paredes, 52, immigrated to the United States three decades ago. He lived and worked in Miami before moving eight years ago to the Florida panhandle, where he manages a restaurant in Pensacola.

    What is the first thing you’d like President Trump to do when in office?

    I think we have to secure the country, and the only way we can secure the country is securing the borders. I don’t mind people coming to the United States but you’ve got to do what others have to do: you have to do the process, what everybody else has got to do. It’s like everybody that is coming from all over the world and they are coming inside this country illegally. They are draining the country. The country is bleeding because of them.

    For nearly 50 years, Wyoming resident Steve Degenfelder, 67, has helped oil companies across the West find land to lease for exploration and drilling. In his job as a “landman,” he’s seen the ups and downs of America’s petroleum industry, and he’s excited about a second Trump presidency, which he hopes will improve prosperity across Wyoming, where more than half of the state’s revenues come from taxing the oil, gas and coal extracted from the ground.

    What is the first thing you’d like President Trump to do when in office to make your life better?

    I would like him, since I live in Wyoming, to direct the Secretary of the Interior to embrace his past initiative of energy dominance.

    Although Trump had no chance of winning California, Jeanne Solnordal, chair of the Alameda County (Calif.) Republican Party, still thought Trump had a chance to become president. She was right. Solnordal said Trump was able to show slight gains in certain key areas across the traditionally Democratic state, including Santa Clara County (home to Silicon Valley) and Napa County (Wine Country).

    What is the first thing you’d like President Trump to do when in office to make your life better?

    Please clamp down on the border. We need to stop the flow, we’ve got enough problems. I think our education system needs improvement. Hopefully, he can require states to do more to provide equal education for all students. We can’t expect our children to succeed without a proper education.

    James Jones, 43, of Detroit, is all about people keeping their word and that’s what he expects during Trump’s second term as president. The married father of two adult children voted for Trump in 2020 and did so again this month, citing Trump’s promise of improving the economy.

    What is the first thing you’d like President Trump to do when in office to make your life better?

    I expect him to do what he said he was going to do when he was campaigning. He’s not new to this, stand on what you said and what you are here for, to run this country. Keep your word. Please. Do what you promised. Find a way to lower our costs, the food prices, for gas, and our utilities. End those wars like you said you would do.

    How do you expect the country will improve with him in office?

    Trump is direct and to the point. No sugarcoating, for better or worse. I do not doubt that he will make the U.S. better than where we are financially. I don’t think he will take any (expletive) from other countries, either.

    Has your life improved under previous presidential administrations? Which ones and how?

    I had more money when Trump was president, plain and simple. I guess lots of Americans feel just like me.

    https://www.msn.com/en-us/news/politics/in-their-own-words-trump-supporters-explain-the-hope-they-feel-for-his-second-presidency/ar-AA1ued4H

    1. “I had more money when Trump was president, plain and simple. I guess lots of Americans feel just like me.”

      Yes they do.

    1. I’ll bet if the Canucks were to send their “newcomers” home that there would be plenty of affordable housing.

  18. How Biden’s Critical Failure Gave Trump Another Shot At The White House

    The blame game for Donald Trump’s imminent return to the White House has already commenced among Democrats. And there are a lot of causes being tossed around.

    The commentariat and some Democrats have zeroed in on their favorite target: wokeness. Democrats, they say, need to stop saying “Latinx,”embrace the public’s opposition to certain trans rights and stop policing language and the shows politicians appear on. Those on the left argue that Democrats need to embrace rhetoric and an agenda more focused on the working class ― and actually deliver on those ideas.

    Economic metrics showed that the American public absolutely hated the state of the economy. Though many measures showed strong performances for gross domestic production, the stock market, economic equality, employment and wage gains for the lowest-paid workers, they largely missed on the most crucial factor: inflation.

    The key measure of public dissatisfaction is the price of food and gas, which is not included in the core inflation metric used by the Federal Reserve. These are the basics that most people feel acutely in their spending every week but that Federal Reserve interest hikes have little or no power to change. This “anti-core” inflation metric, as Bloomberg’s John Authers called it, spiked above 21% in the summer of 2022, the highest inflation for these goods in at least 70 years. Concerns about price increases weren’t just perceptions influenced by the press or by unnecessary DoorDash orders. They were very real.

    Food and gas inflation, therefore, was worse in 2022 than during the Arab oil embargo in 1973 and during the aftermath of the Iranian revolution in 1979-80. The inflation caused by the oil embargo no doubt helped sour the public’s mood toward Richard Nixon as he faced pressure to resign over Watergate. And in 1980, inflation toppled Jimmy Carter and put Ronald Reagan into office. Sometimes history does repeat itself.

    It appears that Biden’s fight for the soul of America is lost ― for now. Democrats see their party as in crisis. The real crisis of Trump’s reelection, after all that came before, is with liberalism itself. And this is Biden’s tragic legacy.

    https://www.msn.com/en-us/news/politics/how-biden-s-critical-failure-gave-trump-another-shot-at-the-white-house/ar-AA1ucfB4

    1. It appears that Biden’s fight for the soul of America is lost ― for now. Democrats see their party as in crisis.

      More self-serving pablum from the globalist scum media. Democrats lost because because they are trying to impose an alien ideology, Marxism, on behalf of their globalist oligarch moneybags. This warped ideology and their exaltation of The State as the supreme authority leaves them untethered from any moral core, as evidenced by their endemic corruption & degeneracy, and control freak tyranny exemplified by their callous and needless killing of Peanut the Squirrel & Fred the Raccoon (RIP). Sane, productive people find these far-left loons and their agenda repellant. America’s soul, such as it is, is intact as shown by our overwhelming rejection of Comrade Kamala and her blackmailed Satanic celebrity endorsers. The Democrat Party, devoid of morals or accountability, will NEVER be capable of introspection or any meaningful internal reform, since they are craven sock puppets for their sociopathic globalist puppetmasters and pimps.

      1. they are craven sock puppets for their sociopathic globalist puppetmasters and pimps

        100% true, and the sock puppets are brain dead.

        But their masters are not brain dead. They will meet in Davos and Jackson, where they will plot to regain what they lost. We must not lower our guard.

    2. The commentariat and some Democrats have zeroed in on their favorite target: wokeness.

      Funny, even though it was painfully obvious that the majority hates wokeness, they kept pushing it until the election. Sure, they toned it down a bit, but everyone knew that unless you were in a protected class your chances of being hired by the government or corporate America were not good. We saw parents being arrested for opposing drag queens at school.

      It got to the point that many were afraid to speak up because they knew there could be consequences.

      So now they want to backpedal to the Bill Clinton days. I have news for them, those people are now voting Republican, and unless the GOP does something stupid, they won’t be coming back.

  19. The Trump shock is the Democrats’ fault

    The outcome of the US presidential election was more of a Democratic loss than a triumph for US president-elect Donald Trump. The Democrats lost not because US President Joe Biden stayed in the race too long, and not because US Vice President Kamala Harris is unqualified, but because they have been losing workers and failed to win them back.

    The party ceased to be a home for American workers long ago, owing to its support for digital disruption, globalization, large immigrant inflows and “woke” ideas. Nowadays, those most likely to vote for Democrats are the highly educated, not manual workers. In the US, as elsewhere, democracy would suffer if the center left does not become more pro-worker.

    Here is my own test for understanding the relationship between the Democrats and American workers: If a member of the Democratic elite is stranded in an unfamiliar city, would he prefer to spend the next four hours talking to a Midwestern American worker with a high-school diploma, or to a professional with a postgraduate education from Mexico, China or Indonesia? Whenever I pose this question to colleagues and friends, they all assume it is the latter.

    With her emphasis on the middle class and patriotism, Harris initially seemed ready to address this problem. If credible, a true effort to win back workers might well have won the election. However, by the end, the campaign had centered around the issues that mattered most to the base. The biggest attempt to broaden the coalition came from using Liz Cheney (a Republican former congresswoman who has been banished from her party) to appeal to suburban women on the issue of abortion. Reproductive freedom might be a critical issue, but it was never going to win over the working class, certainly not working-class men.

    If the economy can no longer foster innovation and productivity growth, wages would stagnate. Yet even in the face of such adverse outcomes, many workers would not return to the Democrats unless the party truly takes their interests on board. That means not only adopting policies that support workers’ incomes, but also speaking their language, however foreign it might be to the coastal elites who have run the party aground.

    https://www.taipeitimes.com/News/editorials/archives/2024/11/17/2003827017

    1. “The outcome of the US presidential election was more of a Democratic loss than a triumph for US president-elect Donald Trump.”

      Nor to deny Trump’s skills as a master campaigner. But it is hard to overlook the Democrats’ ability to fumble opportunity by myopically focusing on issues that are important to their screaming fringe constituents, while abandoning the swing voters at the middle of the political spectrum who decide elections.

      1. while abandoning the swing voters at the middle of the political spectrum who decide elections

        Who DJT masterfully scooped up.

  20. Encinitas candidates who vowed to fight housing mandates hold leads

    Encinitas appears to be heading in a sharply new direction when it comes to how it will handle housing issues — the three candidates who vowed to aggressively fight state mandates on higher-density housing projects all appear to have won their races.

    On late Friday afternoon, with nearly all of San Diego County’s votes counted, the mayoral candidate and the two City Council candidates who ran as a slate declaring that they would fight back against Sacramento appeared to be beating by significant margins their opponents, who were all endorsed by the Democratic Party. A city-sponsored, sales tax ballot measure also appeared to have lost.

    Luke Shaffer, a La Costa Canyon High School coach, will become the city’s next District 1 council member, representing the city’s northwest coastal region. As of Friday afternoon, he had nearly 57 percent of that district’s vote, besting appointed incumbent Allison Blackwell.

    The likely new District 1 representative, Shaffer, said there was no doubt how Encinitas residents felt about current city conditions.

    “I think Encinitas spoke pretty loudly, pretty clearly, they don’t like what’s happening,” he said, adding that he wants to change the city’s direction to “a more Encinitas-first approach.”

    https://www.msn.com/en-us/news/us/encinitas-candidates-who-vowed-to-fight-housing-mandates-hold-leads/ar-AA1ucIH4

  21. Ok, so people have no idea how corrupt the med systems is. First, the Insurance Companies are getting kick backs on the patient care, while at the same time they are collecting all these high premiums.
    So, the Doctors are hassles by the Insurance Companies, when they want to do things that are covered by the patient insurance. The Doctors are hassled so much that they just give in to the Insurance Companies.
    I have a friend who needs knee replacement. The Insurance Co. Insisted he take shots instead, that had a thousand dollars co pay. The doctor told my friend that the shots won’t work because his knees are to far gone, but the Insurance Co won’t approve surgery unless he takes unless shots with big co pays.
    So my friend took the useless shots with high co pays, that did nothing. Than the Insurance Co wanted Dr to give other type of shots, that the Dr told my friend he knew wouldn’t work either.
    So, the Drs are so brow beated into doing the Insurance Companies dictates, that patient care is compromised in a big way.
    So, what Drs want to do is disrupted by the Insurance Companies subjecting patients to care that is useless or the Dr on the case doesn’t even agree with.
    The second set of shots in knee didn’t work either after he paid thousands in co pays. Now he’s waiting for Ins co to approve surgery, that ins co is stalling on. Just a example.
    Insurance Companies have been denying extra tests the Doctors wanted to better diagnose a health condition.
    And the worse part is Insurance Co trying to throw people into hospice when they aren’t even close to being terminal.
    Its really bad and whistleblowers are starting to expose just how corrupt it is.

    1. So, the Drs are so brow beated into doing the Insurance Companies dictates, that patient care is compromised in a big way.

      Most doctors are employed by large corporations, like Kaiser or Banner. Few belong to a private practice. So if they don’t toe the line they will find themselves unemployed and blackballed.

  22. What Elon Musk and Vivek Ramaswamy could abolish in the name of government efficiency

    President-elect Donald Trump has charged Tesla CEO Elon Musk and former presidential candidate Vivek Ramaswamy with cutting government spending and “making changes to the Federal Bureaucracy with an eye on efficiency.”

    Years of comments from both men suggest they could aim to do much more than slim down Washington. They appear poised to make a run at abolishing huge areas of that bureaucracy entirely.

    Between them, Musk and Ramaswamy have also directly discussed eliminating high-profile areas like the Education Department, the FBI, and the Internal Revenue Service.

    Ramaswamy promised the elimination of at least five larger agencies during his run for president last year. He also discussed cutting 90% of the staff at the Federal Reserve during that campaign.

    “This will send shockwaves through the system,” Musk was quoted as saying in Tuesday’s release.

    Ramaswamy has perhaps the most fleshed-out agenda from his own time on the campaign trail as a onetime rival to Trump.

    During his 2023 run for the White House, he pledged to fire 75% of federal employees and promised to abolish at least five well-known federal agencies — including the Department of Education, the FBI, the ATF, the IRS, the Nuclear Regulatory Commission, and the USDA’s Food and Nutrition Service.

    He also had a keen focus on meddling at the Fed. He promised giant cuts and wrote in a 2023 Wall Street Journal op-ed that “I intend to make the 2024 presidential race in part a referendum on the proper role of our central bank.”

    https://finance.yahoo.com/news/what-elon-musk-and-vivek-ramaswamy-could-abolish-in-the-name-of-government-efficiency-184344052.html

  23. Former ambassador says Canada has become ‘laggard,’ ‘irrelevant’ on defence spending

    Former Canadian ambassador to the U.S. Derek Burney is calling Canada a “laggard,” and says the country needs to do “major work” on its defence spending if it wants to be taken seriously on other issues with the United States.

    “If we expect to get any attention in Washington at all on anything, we’ve got to do major work on our defence capabilities,” Burney told CTV’s Question Period host Vassy Kapelos, in an interview airing Sunday. “I mean, it really is dismal.”

    Canada’s defence spending targets are facing additional scrutiny following Donald Trump’s re-election as U.S. president. In the past, Trump has been critical of other members of the alliance spending too little, and even suggested earlier this year that if he wins back the White House, the U.S. will not protect NATO allies who fail to meet the target of spending two per cent of GDP on defence.

    But Burney, who also served as former prime minister Brian Mulroney’s chief of staff and figured prominently in the original NAFTA negotiations, said Americans will not “wait for eight years,” and Canada needs to boost defence spending “faster.”

    “I can’t put it too negatively, but we are laggard, we are irrelevant, and we make no contribution that I can think of that is meaningful anywhere in the world today,” he added. “That’s a very sad commentary on a once-proud military.”

    A recent report from the parliamentary budget officer states Canada would have to nearly double its defence spending to $81.9 billion per year if it wants to hit the two per cent target by 2032.

    Burney told Kapelos the federal government should find efficiencies elsewhere as a way to boost defence spending.

    “We need a very explicit effort at cost-reduction in the basic government in Ottawa,” Burney said. “It has to happen, and the Americans are going to lead the way on this. So we should take our cue from them.”

    https://www.ctvnews.ca/politics/former-ambassador-says-canada-has-become-laggard-irrelevant-on-defence-spending-1.7112574

  24. Why the new U.S. administration won’t have much time for us

    Last week, we learned in an interview on Radio-Canada’s Tout le monde en parle with retired career diplomat Louise Blais, that when Donald Trump won his first U.S. presidential election in 2016, the Prime Minister’s Office struggled to find a phone number to contact him.

    Fast forward to today. Yes, Prime Minister Trudeau did have a call with President (re-elect) Trump. He wasn’t the first to do so, as was the case with President-elect Joe Biden in 2020. He wasn’t the last, either. I guess he learned from the struggles of 2016 and their mistakes. Actually, no—they made new ones.

    For the past year and since Pierre Poilievre was elected leader of the Conservative Party of Canada, the Trudeau government has used repeatedly the name of Trump and his MAGA movement in various not-so-veiled ways to portray Poilievre as the “Donald Trump of the North.”

    Yes, Trudeau did call Trump after the assassination attempt, which was a good deed. But how many times has Trudeau and his team used Trump’s name to attack Poilievre in the House of Commons during Question Period, in parliamentary committees, and during press conferences? Frankly, I don’t know—I don’t have enough fingers and toes to count.

    So my question is: why would a prime minister of Canada gamble with the country’s most important and enduring partnership for cheap political points? Yes, Justin Trudeau is desperate. But at the end of the day, he is the prime minister, and he should rise above this and conduct himself as a statesman. But, no. He made the same mistake as in 2016—he thought the Democrats would win.

    We don’t vote in the U.S. The standard line is that we’ll work with the government that the Americans choose. It was a colossal diplomatic mistake made by Trudeau not to follow that route. Not the only mistake, unfortunately.

    So, let me sum this up: Trudeau tried to make a free trade agreement with China and got rebuffed. He was late to ban Huawei. He delayed the purchase of the F-35 fighter planes. He doesn’t spend two per cent of GDP on defence spending. We are not part of AUKUS or QUAD. We are in turmoil with India. President Trump didn’t like him during his first presidency, and it is not going to improve after Trudeau’s many statements against him.

    And the Trudeau government just announced a cap on oil and gas emissions — which is essentially a cap on production — targeted at Alberta. That’s shooting ourselves in the foot—like we needed that. Even former Liberal finance minister Bill Morneau stated that the timing of this announcement doesn’t make any sense. We export energy to the U.S.! The Canada-U.S. energy file is one that we can talk about with the new Trump administration.

    From my experience, the new U.S. administration won’t have much time for us. They read the polls. Why would a new administration, focused on their first 100 days, spend time and energy with the Trudeau government until an election is called in Canada?

    By the way, Trudeau is going to a G-20 summit next week. I guess G-20 heads of government won’t fight for a bilateral meeting. Our diplomat will, but he is damaged goods—well past his expiration date. It’ll look more like Trudeau’s farewell goodbye tour, same as President Joe Biden.

    It’s time for a change. And to reset Canada-U.S. relations.

    https://www.ctvnews.ca/politics/why-the-new-u-s-administration-won-t-have-much-time-for-us-1.7108760

    1. He doesn’t spend two per cent of GDP on defence spending.

      Bravo Foxtrot Delta. Spending on “defense” against external threats is pointless when your globalist quisling government is flooding the country with unassimilable 3rd World migrants who share their globalist sponsors’ antipathy for Western Civilization, Christianity, and Heritage populations and cultures.

  25. ‘Encinitas appears to be heading in a sharply new direction when it comes to how it will handle housing issues — the three candidates who vowed to aggressively fight state mandates on higher-density housing projects all appear to have won their races’

    So many years I’ve read California guvnah mandates X, it seems every day. All you get is lawsuits and pissed off neighbors. Nobody can say it’s working. Why not try another way?

  26. The extent of rigged systems and looting that is occurring , and has been for a long time , is not sustainable.
    I posted above about med Insurance Companies getting kick backs, and how much they hassle Drs to not give the care the Doctor wants.
    The institutions have become indoctrination systems for failed ideologies. Science has been corrupted to a shocking degree.
    The looting of tax dollars for Monopolies to take the money and run is ongoing.
    As John Kerry said, “No government can stop the Market Forces, ” as John Kerry promote the taking of “free speech” so it will be easier to govern.

    The outrageous idea that there would be gain of function viruses created, so counter measures of lockdowns, masks and fake vaccines could be forced. And trillions were transferred to the Monopolies, while small business was destroyed.
    And the unproductive casino of excessive debt and speculation is collapsing, and inflation is a basic threat to survival to many factions of the populations.
    But, the WEF is always preaching on high about the Great Reset, Stakeholder Capitalism, Global Governance, you will own nothing and eat bugs . Basically facism on steroids.
    And one of the most insane frauds by corrupted Science is the totally absurd notion that co2 emissions is the culprit in causing doomsday Climate Change. And the proposed solution to co2 being the culprit is to have zero co2 emissions by 2050.
    Its all a pre planned scam by the usual suspects , and these sinister Powers that Be want to enslave, control, deprive and at worse genocide humanity .
    A murderous group of depopulation psychopaths who are trying to fashion their One World Order dictorship , where they control all the marbles.
    Just saying

  27. This just came in:

    Auction
    listing provided by Auction.com
    Price Unknown
    45 S 100 E, Fredonia, AZ 86022

    This property is being offered for sale exclusively on Auction.com. Be ready to bid! The online auction starts on 11-24-2024.

    https://www.zillow.com/homedetails/45-S-100-E-Fredonia-AZ-86022/2053615259_zpid/

    When I was doing foreclosures in N AZ I refused to go to this sh$thole. I heard it was crawling with crazy Mormons. I wouldn’t go to the Indian reservations for foreclosure work either.

    FREDONIA

    Though just a tiny town, Fredonia (pop. 1,220) is the largest community on the Arizona Strip. Mormon polygamists, seeking refuge from federal agents, settled here in 1885. They first called the place Hardscrabble but later chose the name Fredonia, perhaps a contraction of the words “freedom” and “doña” (Spanish for wife).

    http://arizonahandbook.com/fredonia.htm

  28. Net-Zero Rollback: How Trump Might Achieve De-Regulation Goals

    https://www.zerohedge.com/political/net-zero-rollback-how-trump-might-achieve-de-regulation-goals

    President-elect Donald Trump won the election on, among other things, pledges to roll back the regulations that were put in place under the Biden administration, particularly those intended to meet net-zero emissions goals in America’s energy industry.

    In many cases, however, that will be easier said than done, and may not be something Trump can achieve on day one, according to analysts.

    According to the American Action Forum, the Biden administration has finalized 1,114 new regulations to date, adding $1.8 trillion in costs to American businesses and consumers and an estimated 346 million hours of paperwork. And depending on how the regulations were put in place, the incoming Trump administration will likely face challenges in unwinding them.

    “It will be on a regulation-by-regulation basis,” Dan Kish, senior vice president of policy at the American Energy Alliance, told The Epoch Times. “There’s actually three categories: executive orders, action from Congress, and those things that have to be done through regulation.

    “In other words, there’s a process that’s been set up for changing regulations,” he said. “But all of those things are available to [Trump] depending on what happens with the final Congressional outcome.”

    For regulatory mandates that have gone through the formal process of being enacted as “final rules” by agencies, the Administrative Procedures Act (APA) stipulates that cancellation of those rules must go through the same process. This includes a notice and public comment period, as well as a 30-day delayed effective date and a process for judicial review if people can claim they would be adversely affected.

    “You do need to undergo rule-making to change rule-making, but a lot of the Biden administration mandates weren’t issued through rule-making,” Matt Bowman, senior counsel and director of regulatory practice for Alliance Defending Freedom, which has litigated against Biden administration mandates, told The Epoch Times.

    “We’ve won several cases against mandates that they didn’t bother to put through the rule-making process,” Bowman said. “Those can be taken down pretty quickly.”

    Many of the regulations that were issued by direct orders from President Joe Biden will likely be rescinded in the same way.

    “Executive orders will drive the overarching regulatory policy goals of the next administration,” Dan Goldbeck, director of regulatory policy at the center-right American Action Forum, told The Epoch Times. “But they will have limited direct impact on rules already on the books.”

    The Role of Congress and the Courts
    However, even for regulations that have gone through the rule-making process, there are several options available to the Trump administration to have them rescinded in short order. The first is have Congress overturn them using the Congressional Review Act (CRA) if Republicans are able to gain a workable majority in the House.

    According to the CRA, agencies must submit final rules to Congress before they can take effect. If both houses of Congress disapprove of the rule, and the President concurs or Congress overrides a presidential veto, the rule cannot go into effect. There is, however, a time limit, effectively about 6 months, for Congress to take action.

    Since its passage, the CRA has been used to overturn a total of 20 federal rules, 16 of which were Obama administration mandates overturned by a GOP-led Congress in 2017.

    “It’s tough to say what the exact number will be this time around, but I expect Congressional Republicans to be quite active on this front,” Goldbeck said.

    In order to avoid the fate of many Obama-era regulations that were blocked by Congress, the Biden administration rushed to finalize a number of rules well before the date when a new administration could take office.

    “There’s plenty to suggest that the Biden administration made a point of finalizing some of its highest priority rules earlier this year to avoid potential scrutiny under the CRA,” Goldbeck said. “Nevertheless, the general expectation is that any rule finalized from the start of this past August onward will be vulnerable to repeal under the CRA.”

    Even for regulations that are no longer subject to Congressional review, there are options to remove them fairly quickly, particularly those that have been challenged in court.

    “Many of the rules, the most egregious rules the Biden administration imposed, are in court, and courts don’t need to wait for a rule-making process to strike down an illegal rule,” Bowman said. “Courts have already in some cases issued at least preliminary injunctions against those rules so that the Trump Department of Justice, if it prioritizes the President’s agenda, can acknowledge the illegality of some of these rules.”

    Where lower courts have ruled in favor of the Biden administration, the DOJ can appeal those cases to the Supreme Court in hopes of getting a different verdict. And for cases that are awaiting decisions, federal agencies can delay enforcement of the rules until a verdict is reached.

    ‘Personnel Is Policy’
    In Washington, it is often said that “personnel is policy.” Accordingly, the people that Trump puts in place within the agencies will also go a long way in determining how regulations are implemented, if at all.

    “What he can do through executive orders is give instructions to the federal agencies to stand up or stand down on any number of initiatives,” Jonathan Berry, managing partner at Boyden Gray and former chief counsel to President-elect Trump’s first-term transition team, told The Epoch Times.

    In addition, outside of existing agencies, Trump announced on Tuesday that Elon Musk and Vivek Ramaswamy will run a new department intended to oversee the reduction of regulations throughout the federal government and improve government efficiency.

    How well Trump’s agencies coordinate among each another, including cooperation between regulators and the DOJ, will be a critical factor in determining whether or not Trump’s deregulatory agenda succeeds, according to Bowman.

    “I think the President can achieve his goals if all of his appointees are on the same page,” Bowman said.

    1. Yahoo Finance
      Motley Fool
      The Stock Market Is Doing Something Witnessed Only 3 Times in 153 Years — and History Is Very Clear What Happens Next
      Sean Williams, The Motley Fool
      Sun, November 17, 2024 at 2:06 AM PST 7 min read

      In case you haven’t noticed, the bulls are firmly in charge on Wall Street. Since 2024 began, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI), broad-based S&P 500 (SNPINDEX: ^GSPC), and innovation-fueled Nasdaq Composite (NASDAQINDEX: ^IXIC) have respectively gained 17%, 26%, and 28% (as of the closing bell on Nov. 13) and ascended to multiple record-closing highs.

      A number of factors are responsible for pushing Wall Street’s major stock indexes to new highs, including excitement for the artificial intelligence (AI) revolution, stock-split euphoria, and optimism for President-Elect Donald Trump’s second term in the Oval Office.

      But when things seem too good to be true on Wall Street, they usually are.

      The stock market has done this only three times since January 1871
      Throughout the year, there have been an assortment of correlative events, forecasting tools, and data points that have warned of potential weakness in the U.S. economy and/or stock market. This includes the first notable decline in U.S. M2 money supply since the Great Depression, the longest yield-curve inversion in history, and the correlative performance of equities when the Federal Reserve shifts to a rate-easing cycle.

      However, one historically flawless valuation metric stands head and shoulders above these other tools, and it’s doing something right now that’s only been observed three times in more than 150 years.

      Most investors are probably familiar with or rely on the traditional price-to-earnings (P/E) ratio, which divides a company’s share price into its trailing-12-month earnings per share (EPS). The P/E ratio provides a relatively quick way to compare a company’s valuation to its peers or the broader market.

      However, the traditional P/E ratio also has limitations. Specifically, it doesn’t work particularly well with growth stocks since it doesn’t factor in future growth rates, and it can be easily disrupted by shock events, such as the lockdowns that occurred during the early stages of the COVID-19 pandemic.

      A considerably more encompassing valuation tool, and the metric currently making history, is the S&P 500’s Shiller P/E ratio, also referred to as the cyclically adjusted P/E ratio or CAPE Ratio. The Shiller P/E accounts for average inflation-adjusted EPS from the previous 10 years, which smooths out the impact of shock events and allows for apples-to-apples valuation comparisons looking back more than 150 years.

      As of the closing bell on Nov. 13, the S&P 500’s Shiller P/E clocked in at 38.18, more than double its average reading of 17.17 when back-tested to January 1871.

      But more importantly, the Shiller P/E ratio has reached a reading of 38 only three times during a bull market rally in 153 years. In December 1999, during the dot-com boom, the Shiller P/E peaked at a reading of 44.19. Meanwhile, in the first week of 2022, it very briefly lifted above 40.

      What’s noteworthy is what’s happened to Wall Street’s major stock indexes following these prior periods when valuations became very clearly overextended to the upside. The dot-com bubble resulted in a peak-to-trough drop of 49% in the S&P 500 and a considerably steeper decline in the Nasdaq Composite. Meanwhile, the Dow Jones, S&P 500, and Nasdaq Composite entered respective bear markets in 2022.

      Stepping back even further, there have been only six instances since 1871 when the Shiller P/E surpassed 30, including the present. Following each of the five prior occurrences, the Dow, S&P 500, and/or Nasdaq Composite eventually fell between 20% and 89%.

      Although the Shiller P/E tells us nothing about when stock market corrections/bear markets might occur, thus far, it has a flawless track record of foreshadowing major moves lower in the stock market.

      https://finance.yahoo.com/news/stock-market-doing-something-witnessed-100600029.html

  29. US serious delinquencies are skyrocketing:

    The share of US credit card debt that is delinquent 90+ days jumped to 11.1% in Q3 2024, the highest level since 2011.

    This is the 5th consecutive quarter of increases, the longest streak since the 2008 Financial Crisis.

    This share even exceeds the 2020 peak and has been rising at a pace only seen during recessions.

    At the same time, credit card debt hit $1.17 trillion, a new record.

    This means a whopping ~$130 billion of credit card debt is on the verge of a default.

    US consumers are drowning in credit card debt.

    https://x.com/KobeissiLetter/status/1858229593909469385

    1. The share of US credit card debt that is delinquent 90+ days jumped to 11.1% in Q3 2024, the highest level since 2011.

      1 out of ten.

      I recently bought a new laptop at a big box store. At the cashier, a young couple was also buying some gadget and were waiting to see if their credit line would be increased. I don’t know if they were, approved as I promptly left after paying for my purchase.

      US consumers are drowning in credit card debt.

      Yup. And most credit cards charge over 25% interest.

      1. With long-term interest rates steadily climbing, including rates on credit cards, mortgages and car loans, it’s a great time to be debt free with a positive net worth.

  30. ‘Meet Nick Shriner, who is originally from the scenic landscapes of Wyoming — yes, it’s a real state’

    Idaho humor I suppose.

  31. ‘I highly suspect the reality of those leaving; lower costs is more of a bonus than the reason. The reason is crime, homeless, riots, failing Portland public schools, rampant open drug use, public (and I mean very public) restrooms, among others’

    You know Dave, I’ve never seen that with my own eyes. In a town or city setting, or anywhere else, observe a human taking a dump. I don’t know what I would do if I did as I’ve never contemplated it. I’ve got a good feeling that I will never see a bum take a big splatter around here actually. This may be one of those YP things – yer problem

  32. ‘Concessions don’t always affect the sale price and don’t show up in the monthly data. ‘Being that half of the transactions had a concession,’ Thayer said, ‘when you reframe how you’re thinking about pricing and put it into a net number, it may actually be a little bit lower than the prices that are being reported’

    Openly discussing market manipulation – check!

  33. ‘The 30-year plus, that is very, very difficult to sell right now because of the fear of special assessments…I think the state of Florida is gonna have to help these condominium associations finance these special assessments’

    Looks like Craig is another REIC commie like Chairman Mao Shiller and Ho Chi Zandi.

  34. ‘According to my research through a third-party company that tracks transactions, just over 43,000 agents were credited with one or more transactions in the past 12 months…Over 14,000 agents were credited with exactly one transaction.’ By process of elimination, that means almost 30,000 TRREB agents did no transactions at all’

    [Verse 1]
    I’ll have a blue Christmas without you
    I’ll be so blue just thinking about you
    Decorations of red on a green Christmas tree
    Won’t be the same, dear, if you’re not here with me

    [Verse 2]
    And when those blue snowflakes start fallin’
    That’s when those blue memories start callin’
    You’ll be doin’ all right with your Christmas of white
    But I’ll have a blue, blue, blue, blue Christmas

    [Interlude]

    [Outro]
    You’ll be doin’ all right with your Christmas of white
    But I’ll have a blue, blue, blue, blue Christmas

    https://genius.com/Elvis-presley-blue-christmas-lyrics

  35. ‘Prospective buyers have to weigh up the benefits of falling interest rates and having a smorgasbord of properties to choose from, versus rising unemployment and increased job insecurity’

    Recessions are bad fer shack gamblers Jim. You don’t know if things are going to get worser.

  36. ‘He added that the coming election would also test how much people are willing to accept home values falling as a social good while they are paying potentially seven figures in interest to their bank over a 30-year loan. ‘At some stage there’s a tipping point of just how much they will accept,’ Mr Kingsley said. ‘I think you will see that they won’t tolerate it — as long as they are aware of it. And if they aren’t aware in this election cycle, they will be in the next federal electoral cycle’

    I applaud yer efforts to keep them from giving it away Ben. Tell em, don’t screw up the comps!

    1. “…accept home values falling as a social good…”

      My young adult kids and their friends, who currently suspect they have been priced out of housing forever, certainly wouldn’t mind seeing a realignment of housing prices with incomes.

  37. November Surprise?

    “The New York Times reported on Sunday that President Biden had authorized Ukraine’s use of long-range US-provided missiles in strikes on Russian territory, an escalation Moscow has made clear risks nuclear war.

    US officials told the paper that Ukraine can now use Army Tactical Missile Systems (ATACMS), which have a range of up to 190 miles, to strike Russian territory. The ATACMS are fired by US-made multiple rocket launch systems, including the HIMARS. Ukraine can only fire the HIMARS with coordinates provided by or confirmed by the US and its allies, meaning the US will now directly support strikes deep inside Russia.”

    https://news.antiwar.com/2024/11/17/report-biden-allows-ukraine-to-strike-russia-with-long-range-us-missiles/

    Just in time for Christmas. Keep paying those federal income taxes, cattle tax slaves.

  38. Did you get financially trapped in a property you no longer want?

    This happened alot in the runup to the Great Recession. People got stucco.

    1. Moving seems impossible: Half of American homeowners under the age of 50 say they feel trapped. Here’s why they’re stuck and 3 ways to get out
      Homeowners don’t want to sell their current homes and lose their low mortgage rates, leaving many people trapped in properties they no longer want.
      Christy Bieber
      Updated Nov 17, 2024

      https://moneywise.com/mortgages/mortgage-rates/moving-seems-impossible-half-of-american-homeowners-under-the-age-of-50-say-they-feel-trapped

  39. WTF

    Is WWIII Biden’s (more accurately the people who tell Biden what he is going to do) parting gift?

    In a first, Biden allows Ukraine to strike Russia with U.S. long-range weapons

    November 17, 20244:45 PM ET
    By Juliana Kim

    For the first time, President Biden has given Ukraine the green light to use powerful American long-range weapons for strikes inside Russia, a U.S. official told NPR on Sunday.

    The missiles, known as the Army Tactical Missile System, or ATACMS, can travel about 190 miles. Their use would enable Ukrainian troops to strike Russia’s weapons stockpiles, logistical centers and airfields — which could help stop Russian forces from advancing on the battlefield and attacking Ukrainian cities.

    The U.S. official, who wasn’t authorized to speak publicly about the decision, said the U.S. is allowing Ukraine to use the weapons to target in and around Kursk — the same region where some 10,000 North Korean troops were recently deployed, according to the U.S. and its allies.

    https://www.npr.org/2024/11/17/nx-s1-5194432/biden-long-range-missiles-russia-ukraine-war

    1. “As well as sending troops to Kursk, it has also been reported that North Korea has supplied Moscow with long-range rocket and artillery systems, some of which have been moved to the Russian region.”

      It’s a U.S. response.

Comments are closed.