They just delayed the inevitable.

 

I'd say this is a pretty shit performance given all the demand they pulled forward. And they have made the  prices so high, there is no demand left to pull forward.

I mean really - I'm surprised I haven't seen construction companies start going belly up due to the high price of lumber and everything else. Allegedly lumber can triple and people can still afford new houses said no one ever.

America is funny. Stock market at all all time high. Americans clueless that the worst is not behind us. I mean, China just shut down two cities. One of them is Guangzhou which is a port city and apparently the 3rd largest city in China. A couple of days ago they were saying this is as disruptive as the Suez canal incident. I think it handles like 24% of exports. And who knows how long they will keep it shut.

Clicks are the only thing that matters.

"The Hangover Arrives: Explosive Inflation Leads To Record Collapse In Home, Car Purchase Plans"

I just love that today Zero Hedge is screaming that inflation is NOT transitory, while giving us this headline which shows that is obviously is.

"policymakers will face the most challenging years since the Volcker/Reagan period in the 1980s."

I'm also getting pretty sick of these types of the phoney ass comments - when we weren't't fucking printing 6 trillion dollars in a year then! It took Obama his whole Presidency to print that much money! 

This is NOT like the 70's because that was native growth. Not money printing. They could stop all this shit in a minute and I'm getting super sick of people pretending that this economy is anything more than phoney.

I saw this lot come through my feed last night. I know exactly where the location is, as it's one of Elon's usual locations. And I didn't even care enoug to drive by it. I was by the plant last week and I thought I saw him parking cars on the test track. I didn't even care enough to take pictures.

I don't know why anyone cares at this point how many cars are building up. Elon doesn't make money on cars. He makes money on carbon credits. When other car companies want to edge him out they will. BY NOT SELLING HIM CARBON CREDITS. Until then - who gives a fuck?

Prices have officially peaked.

It's pretty rare that you get a house that has the entire history of the housing bubble number 1, and also reflects the new bubble. This 1200 square foot house went 100k over asking. Yes... you read that right. A 1200 square foot house going for a Miiiiiillion dollars. That's not even rare honestly.

I think this insanity is all over now because price reduction are coming in seven days. And they aren't walking things down a smidge. These are 50 grand clips.

This borrowed delusion is coming to an end.

It is time to embrace the suck. Republicans need to not eff this up like they normally do.  It would be nice they they showed they are anything besides the anti mask party. That is NOT a political platform. 

Things are going to get interesting now because career politicians don't know how the world works. Trump printed a shit ton of money that has now almost worked it way through the system, and controlling this to the downside is going to be ..... interesting. Biden is not sharp, and Kamala is a vacuous woo girl.

Housing WILL be going into decline. Price cuts are already starting. I thought I would show you this 1200 square foot house in my city that sold for MORE than 150k over asking. When houses this size are going for a million bucks...... what do you think happens? 

All of those moronic posts about hyperinflation will soon disappear. Durable goods are already in decline. 

It is also my opinion that a lot of the people still out of work in California are commercial construction workers. And before people get all high and mighty about the last year - settle down because you are going to get a hard pass on forcing people back into offices and hours long commutes. 

Having said that - there are people on long leases that want people back in the office. It's going to take some time to rebalance these two needs. Consolidation WILL happen though. Anyone with an upcoming lease renewal is at risk.

Don't care.

Goat therapy.

I'm going to be in my feels for a little while. I finally lost my Aunt. She was my last remaining blood relative. I'm an only child. My Aunt lost both of her children in tragic accidents. The older one in a car accident, and the other to fire.  

It's sort of hard to admit to myself, and now the world that, I don't think my mother really loved me. She was not even 13 when she had me. But my Aunt loved me enough for both of them.

I guess I wasn't quite prepared to have no blood relatives at this age. Usually this happens to people much older than me. 

(I have turned comments off, because Im not sure I'm that really ready to talk about this)

Who would have guessed that a pipeline was the thing to kill the crypto bubble. I think it was at that moment the government decided - ENOUGH. The hackers got 90 million in bitcoin. Right? 

There is no way the government was going to keep letting pipelines keep getting ransomwared.

Tell me how this works again?

See... my take away from this article is a bit different. It's just crazy how everyone just treats this as normal. It is not. It took YEARS for housing to go up that much during the housing bubble. I'm guesstimating about four. This is insanity on levels I don't understand.

And the frustrating thing is that the government printed so much money, which in turn caused this. Then, they of course are going to have to raise interest rates, and BOOM. 

 Maybe people do listen. My dogecoin buddy was asking about tax implications today.

Previews.

 

It's sort of Christmas in nearly summer at Che Snarkolepsy. 

Now comes the interesting dance of trying to get 3D content. Mr. S. still has his Hydrogen phone. But they never made it out of Gen 1. Now that it's a couple of years old it's pretty rough.

I have an old Google Tango phone, but very few of those ever got to the public and if I drop it I would be sad.

Do the iPhones take 3D pictures or video? Just curious.

Proof there is no hope for humanity.

What does it say about me that the biggest problem I have with this hacker group that took over a pipeline is that they didn't even spell the name creatively. I would have gone with darksied.

Full casino.

Last week a guy I know told me he turned 4 grand into 150 grand with Dogecoin. 

Of course I told him this was the most dangerous market I'd ever seen. I'm like - "it's based on nothing - right?"

He says - yeah. But money is money.

I tell him to keep his stops tight. But I know he doesn't have any stops. These people are just flat out gambling. Because if you had four grand to invest, why would you put it in Dogecoin rather than something that wouldn't vaporize tomorrow.

Things I wish old people knew.

Why is it when you do a good deed for someone - they always turn out to be an energy vampire? They will literally "one more thing" you to death. And you wish you'd never made the effort in the first place.

So, when you get old - don't make younger people regret entering your orbit. If they do something nice for you - don't make yourself like getting duct tape off in a wind storm. Be brief. It might make them want to do something nice again. 

Instead it turns into some hostage situation where you are trying to find any exit. AND you run the other way next time you see them.

That is all.

Remember when this used to matter?

 

This is what those idiots voted for. Never Trumpers are included in this BTW. 

It truly is odd that I don't hear one single complaint about gas prices right now. Everyone has unlimited money I guess. I imagine all those service workers are getting kicked in the nards.

Unmarked.

 

It's been a while since I've seen a rig. It has at least two Velodyne pucks. No branding at all.

Nothing to see here.

Hurricane season should be fun.

I sure hope everyone doesn't decide to sell at once.

Janet Yellen's Flip-Flop And What She's Really Telling Us. 

"The Fed is boxed into a corner. Powell knows it. Yellen knows it..."

I'm hoping that Trumps' plan was to spend all the money he could, so the other side couldn't. Having said that - I am none too happy with the demand he has pulled forward. The government is always juicing shit, and Trump juiced what he knew. Real Estate.

I rather love articles right now saying how this time is different. We've been underbuilding since the housing crisis, so there is no way housing prices can fall. We aren't in a bubble they write confidently. Prices are just going to keep accelerating.

I am the queen of "population increases will eat this supply up"! All through the housing recession I wrote article after article about this. Having said that - don't listen to journalists. They can't do math. Which is also why they can't learn to code BTW. 

 

Source.  Hit the max button as the link back doesn't.

This is the historical chart for house price appreciation. You don't want to be those people who bought where that pink arrow is. Unless you are fond of buying high and selling low.

Housing basically hit a peak in Spring of 2019 and was somewhat languishing. It picked up a bit in the winter of 2019, but it wasn't until March of 2020 that things became super accelerated. And it has been absolutely gob stopping. Housing prices up almost 18% in Nevada despite almost no one working.

And if you didn't believe housing prices hadn't fully recovered before 2020 - you should read this article I ran across a couple of days ago.

‘Zombie’ Mortgages Come Back to Haunt Property Owners after Great Recession.

As I understand it - people who defaulted on their second mortgages in the housing crisis are now back on the hook. In all the previous years, it was unprofitable to go after them. Buuuuuuut! Since we are now in a housing boom (said in the most sarcastic way) they are. I don't know how many people this affects, but wow.

Now, I have been lucky in the pandemic. I already had a long time renter. But the stories I'm starting to read about other people send shivers down my spine. For small landlords, sure the bank isn't foreclosing on them - but those people count on rent money to survive!

Last week my property manager sent out an email saying "We have also seen a change in resident mentality. With the eviction moratorium and other COVID-19 related tenant protections in place, some residents feel that paying rent is more like a favor and less like an obligation."

I have already started to see an increase in multifamily properties. Which is unusual. But these landlords have to be just wrecked. Dealing with the bank and tenants. And the government trying to make it so you are bankrupted. I know they just overturned the eviction moratorium, so maybe now we get to see what reality looks like. Those people who bought at the pink arrow above are probably going to be shocked at just the return to the mean prices. 

I should go back through my posts because if I recall correctly things were sitting on market for about 3-4 months before the pandemic hit, with price REDUCTIONS. Then all of a sudden they were going 300k over asking. Cause everyone thinks that's normal.

Finally, the reason I titled the article this way is because - housing prices are very good. If I haven't been working I can still sell my place and find relief. I'm sure this is on a lot of people's mind. And already I'm noticing a lot of inventory coming on. 

My bet is that when all that money printing fades we are going to be back in a much worse situation. Today they starting talking about the debt ceiling and I was like - THERE IS A CEILING?!? Cha.

Pretty awkward to have a 12 year old talk to me about real estate today.  

This kid knew how much a house (in a nice neighborhood) in the town he lives in Oregon cost. 

The whole time I'm like - I don't even know what to say to this kid other than, you are pretty advanced for your age.