Rents in US Rise at Fastest Pace Since 1986, Buoying Inflation
An index measuring rent of a primary residence was 0.8% higher in June than the month before, an acceleration from the 0.6% increase recorded in May, according to the Labor Department’s report on consumer prices published Wednesday. In the 12 months through June, rents were up 5.8%.
Those costs are soaring across the country as would-be homebuyers get priced out by the fastest-rising mortgage rates in decades and slide back into the overcrowded rental market. But rent growth may be peaking as affordability concerns mount, and a surge in construction of new units is poised to start adding to the available inventory.
The Labor Department measure tends to lag behind other estimates, so it is likely that rent increases will contribute to rising inflation in the consumer price index through the rest of this year, according to Mark Zandi, chief economist of Moody’s Analytics.
“The big increase in CPI rents is catch-up with the consistent double-digit growth in market rents,” Zandi said. “The good news is that market rents appear to be topping out, as renters are not able to afford the higher rents and are balking. More rental supply is also coming, although this will take a year or two to have a meaningful impact on market rents.”
Nearly 836,000 multifamily units are under construction, the most since 1973, according to Jay Parsons, chief economist at RealPage. But most new construction targets higher-income tenants and not the lower end, where supply shortages are most extreme, he said.
Wage growth continues to outpace rent increases, but that gap is rapidly closing.
“Affordability is not a major headwind yet in the market-rate rental sector, but it could quickly become one if wage growth slows,” Parsons said.
Rents, along with a category known as owners’ equivalent rent that often moves in tandem, account for more than 30% of the consumer price index, giving them outsize weight in overall inflation trends. Given the close ties between rents and wages, the accelerating pace of increases will keep Federal Reserve officials on an aggressive tightening path.
From Mansion Global:
Summer Scorcher: Manhattan Rents Hit $5,000 for the First Time
Manhattan rents can’t stop breaking records.
The average rent across the borough reached $5,000 for the first time in June, according to a Douglas Elliman report released Thursday.
The average monthly rent, at $5,058, soared 29% year over year and was nearly 20% higher than June 2019, before the pandemic, according to Jonathan Miller, chief executive of real estate appraisal firm Miller Samuel and author of the report.
The median rent continued to set records, too. After hitting the $4,000 mark for the first time in May, the median price of a new lease was $4,050 per month in June, a 1.3% monthly increase and a massive 25% jump compared to June 2021, according to the report.
Renters looking for the largest apartments in Manhattan, meanwhile, will have to cough up nearly five-digits a month, with three-plus bedrooms averaging $9,469. But even for a studio apartment, the average rent stood at $3,145 per month, or $37,740 per year.
“We have been seeing in the past two months that additional demand for rentals is pressing up prices, as consumers are priced out of the purchase market due to spiking mortgage rates,” Mr. Miller said.
First. Got nothing but ha, DD!
Just saw a realtor on Facebook tell people that it’s a great time to buy, and that because inflation was running higher than current mortgage rates, it means real estate is still a great investment.
In other WAR news it seems the new longer range weapons we shipped are highly effective in Ukraine, can shoot beyond Russian artillery range and are mobile and can be loaded by small crews very quickly. They have taken out many Russian ammo supply dumps in the last week alone, the Russians need this ammo to keep up their scorched earth campaign of firing over 7,000 artillery shells and rockets every single day. NASA satellite imagery shows the Russian shelling has decreased significantly in the last week.
We have taught the Ukrainians well in the last few weeks on how to effectively use our longer range howitzers and HIMARS GPS guided rockets which are accurate within a few meters when fired 50 miles away. Much less ammo needed for sure and better results with minimal civilian casualties. Interesting enough the Russians have learned nothing from the west since WWII, they do not use fork lifts and pallets to handle the ammo, it’s all hand loaded from trains to warehouses to trucks, so we are targeting their supply chain now.
We did not yet ship our GPS guided $68,000 dollar for a single round 155 mm shells to them. These M982 Excalibur weapons are truly bad ass, and are fired from Howitzers. I did read we are sending another 1,000 rounds of artillery shells. I suspect these new shells we are shipping are those Excalibur weapons. The Ukraine Army is using about 3,000 shells a day now. With these newer shells they don’t need to fire a wide volley as they are super accurate and if they are getting our targeting coordinates they will make fast work of Russian forces and equipment.
You can expect the Russians to escalate, perhaps even start flying sorties again, their airforce has not been in the war for some time now as they don’t want to get shot down. News says thee Russians are in Panic mode. How does a Putin respond? I can see it getting messier before any kind of cease fire is negotiated.
I read yesterday that Russia is taking shipment of drones from Iran…means they are losing a lot of their own.
Poverty rate in 2019 was at 10.1%, lowest in 60 years.
Poverty rate in 2022 is now at 14.4%.
Build back better.
“Jason Gray I’m not disagreeing with your points….there are A LOT of problems with the systems we have…..and I’m not trying to say that “claustrophobic offices” are GOOD innately….I know there are pros/cons to everything…..
I think in a hypothetical sense, you’re right: HYPOTHETICALLY, people working from home COULD end up with a much healthier work/life/health balance….
BUT – I’m just not sure that’s what will actually happen….AND, for single people who live alone, it probably does more harm than good
I know people in their 30’s and 40’s who are single, living alone, and they basically spent the last 2 years ALONE…..because of the pandemic….and I can say from seeing them, that it HAS Negatively affected their mental health and physical health
THOSE people were indeed HEALTHIER and happier by going to their office…..having lunch with workmates….a bit of exercise to get there…..maybe go out after work for an hour with other employees….
Again, I agree with you that IN SOME Situations, it’s probably awesome…..for people who can intentionally stay Social and stay Physically active and make time for the “balance” – for THOSE people, the work from home is excellent.
But in the real world it’s not going to be like that for everyone”
re: ” it’s a great time to buy”
When has the NAR ever said don’t buy now?
It’s always an exaggerated sentiment from anyone in the real estate game, nobody but the cheerleaders think it’s a great time to buy now, and this is not factoring in the rising costs that will be passed down soon. There was an article yesterday in the Washington Post of all places listing out five reasons not to buy a home now. The media drives the sentiment south now, plenty of news stories about holding off on buying and people cancelling the home purchase when they get the final monthly nut number from their mortgage broker.
Speaking of passing down the rising costs soon, wait until the budgets of every NJ town get proposed. What is a 9% or even 10% percent municipal tax increase going to do to any affordability calculation? Natural Gas to heat your home this winter? Well the Europeans are bidding it all up, so how about a nice increase of 25% to heat your home this winter too?
Grim: Realtors are slime. The most unregulated business in the country, yet has more impact for most people than the stock market.
Joe Ryan So THAT is an interesting point that I had not considered… You’re right – it could be a useful way to figure out who is actually contributing and who is just screwing off and abusing the situation….
I guess my underlying point was not restricted just to office/remote dynamic….but, modern life in general (especially changes from the pandemic)
FOR MANY People, the ONLY Exercise they get is when they walk to get coffee….or walk around the Mall for an hour after work….or walking to the bus/subway to commute….MANY people literally no longer get those extremely tiny bits of “movement” anymore, because groceries and starbucks get delivered, and they work from home, and all “work breaks” are just taken up with “social media”……
ANd – likewise – For MANY people, the only “Social interaction” they get is the little bits of chit-chat with someone in the grocery store…or at the mall/starbucks…..OR – making a few silly bits of conversation with Work Mates in an office between the day……
My underlying point is that these all may seem trivial, but it’s kind of like being dehydrated…. You can ‘survive’ on very little water…. You wont be healthy, but you’ll survive to some degree…..but IF that little bit of water is taken away – that’s it – you’re dead relatively soon…..
Joe Ryan Yeah…I’m certainly not saying that remote work is “all bad” – almost everything has pros/cons to it….and I think for some types of people remote/home work is probably awesome….there are a lot of variables
But – in general – It seems pretty clear that most human beings perform better in life when there is structure….I know that’s true for me in many ways….and I just think we’re all too quick to assume that something is “better” merely because it seems “Easier”…..
I mean, we have SO MANY examples to use: Social Media lets you connect with as many people as you want, all from the comfort of your couch….BUT – anyone who is truly observant and reflective and awake will have discovered that it’s WAY BETTER to connect with 2 or 3 people on a deeper level..
Same of course goes for “dating” – modern dating is such a joke….it’s just a hedonistic, mindless nudity circus…..swipe, nudity, swipe, nudity…..and nobody actually VALUES the experience anymore….
BUT – it’s certainly “Easier” to get “dates and nudity” than ever before!
And I think we can see this pattern with all of the modernity we live surrounded by/crushed by……
Nobody even needs to “be bored for 5 minutes waiting for the bus” because we have a constant “entertainment device” in our palms…BUT – Maybe spending 5 minutes with your own thoughts is absolutely vital to psychological health – right?
It’s just too many levels of Evolutionary Discordance, unfortunately.
Yellen says inflation is too high!! Thanks Janet, it’s not like you had anything to do with that!
Wow, this dude gets it. I just don’t understand why more don’t. You know who is going to be paying for this health fiasco down the line, right? That’s right, you and me as healthcare costs rise to take care of so many broken people both physically and mentally. I swear, we are so smart, yet so ignorant.
Skipping 2020 as usual. Cult free pass. Income went down 3% in 2020 and child tax credit expired in 2022.
The 2021 expanded child tax credit helped reduce child poverty by about 30% as of December, as measured by monthly income, according to the Center on Budget and Policy Priorities.
“Jason Gray ANd lets be honest about what “modern humans” are…..EVEN IF parents are working from home, and therefore can potentially “spend more time with their kids” – that’s not lkely what will happen in many, many cases…..
As it is, the family unit is falling apart…..I see parents walking with their kids in the park, or in the grocery store, and the parents are just talking on their phones…ignoring their children….and the same thing will happen with MANY people….they’ll work from home, and continue to ignore their children, because parenting has become a “task”, rather than a Passion.”
November 8th, 2022,
Tick… tick… tick… tick…
Iranian drones don’t stand a chance, won’t be long before they are all shot down. It’s a numbers game with drones, they will need to launch thousands of them to defeat current defenses never mind the more advanced stuff you may not have heard of.
We are using Ukraine as a live proving ground for the new tech. There is a newer system mounted on a Polaris ATVs. 360 radar, stinger missiles, heavy guns that auto target and multifunctional electronic warfare to shoot down any low flying drones.
There is even a laser drone zapper developed by Raytheon 10kW High Energy laser mounted on the same Polaris ATV, can shoot down even the best Chinese-built quadcopter drones.
That is only the stuff we know about. Drones can be programmed to fly to a coordinate and drop a bomb or be flown remotely but those signals can be jammed by tech we have not even seen yet. Then there are anti-drone drones. The switchblade for example and other variants they will just loiter until they detect a drone and then go in for the kill.
If they do keep raising rates, which I don’t think they will do, I would not want to be on the winning side come this election. The winner will be responsible for a crashing economy.
Fast Eddie says:
July 14, 2022 at 9:13 am
November 8th, 2022,
Tick… tick… tick… tick…
3B – Yellen is still jawboning for the $4 trillion “infrastructure” bill. Another print and forget exercise from Congress. That same legislation said it would partially pay for itself by hiring another 86,000 IRS agents to stick a scope up your finances….
Yellen, Powell and Bernanke all have done allot of damage. They focus on macroeconomic concept known as R*, which is an estimate of the “neutral” interest rate that is neither simulative nor restrictive for the economy. R* in reality is the long term rate, there is somewhat of a smoothing effect when you measure over decades not like the short term rate which does all damage, trillions so far with only a small increase too.
Inflation target is still 2%…How is that going so far? Bernanke could not get us anywhere near 2% and now we have overshot it by a long margin. Lagging wage increases only hurt the poor the most, and not just here in the USA where we have a safety net but the rest of the developing world now has lots of unrest and it will only get worse and inflation makes even eating expensive.
Juice: Yellen another clueless head of Fed. Yes, the poor and the younger generations are the ones paying for Fed madness. I believe high inflation will be with us for quite some time. The only thing the Fed is good at is inflating assets.
Higher the price goes, the more desirable renewable sources become.
“Speaking of passing down the rising costs soon, wait until the budgets of every NJ town get proposed. What is a 9% or even 10% percent municipal tax increase going to do to any affordability calculation? Natural Gas to heat your home this winter? Well the Europeans are bidding it all up, so how about a nice increase of 25% to heat your home this winter too?”
Meaning, higher the price of oil/natural gas, the more money that will be thrown at finding away around it. Inevitable. Like elon said yesterday, lithium batteries are the new oil. He is dead on.
” Realtors are slime. The most unregulated business in the country, yet has more impact for most people than the stock market.”
Realtors are pure examples of unregulated capitalism.
Isn’t that what Americans want?
They didn’t shut down the economy. They had total control until that point, when supply lines were shutdown and caused a scarcity of supply of goods. This is not about monetary expansion or stimulus, it’s about a black swan event that scared govts into shutting it all down, which we now know was the wrong thing to do. Blame the Fed all you want, they didn’t create this, and in fact they helped it by not crashing the economy as demand would have went straight into a deflationary spiral type crash. Inflation sucks, but it’s way better than a deflationary spiral where your output value is decreased on a monthly basis.
July 14, 2022 at 9:36 am
Juice: Yellen another clueless head of Fed. Yes, the poor and the younger generations are the ones paying for Fed madness. I believe high inflation will be with us for quite some time. The only thing the Fed is good at is inflating assets.
The left is completely and entirely unhinged. They’re besides themselves. They’re a crippled, defective and ruptured sect with multiple messages and endless misdirection. They went from the party of the blue-collar, hardworking middle class to distraught and hysterical souls grasping at anything to ease the pain of their deficiencies. It’s as stunning as it is scary. Their platform now consists of replacing their identities with nonoccurrence articles of the English language and insisting that men have the right and privilege to become pregnant. It won’t be long when they begin to pimp the senator’s wives and start naming horses and sheep as their advisors.
3B – Yellen has also apparently gone off the deep end with this nonsense about capping the price of oil.
Does anyone think that the Saudis will agree to that this week? They cannot even reach their targets for production now and we are going to tell them we are paying less?
I suspect Biden will be coming home empty handed. To save face they will promise to increase production a tiny bit but never deliver it.
It’s all high tech until someone launches the “Big One.”
Like a bar fight until someone pulls a gun.
You know what it’s like trying to pay your fixed monthly payments when your pay is decreasing, or worse, is cutoff (laid off unable to get a job)? You would advocate for your this madness….an economy coming to a crawl in a deflationary spiral? Inflation sucks, but be happy the Fed was able to avoid the opposite conditions.
Bill Burr’s new Netflix skit was some old recycled Bill with a new twist to it.
A must see if you are a fan of his.
Juice: Yeah, she is has I saw that, talk about clueless!! It’s scary, and she is going to put pressure on the Chinese government to restructure all the loans they have out with developing countries around the world like Sri Lanka. They will just laugh at her.
Janet Yellen is 75 years old.
Phoenix: They are all old, and they all need to go!!
July 14, 2022 at 6:01 am
First. Got nothing but ha, DD!
Phoenix – re: “Big One.”
Presidential Directive 59. Jimmy Carter wrote that one. We go after command and control first and you can bet there is no bunker deep enough to hide in.
Putin places a very high value on protecting his own skin, he is not hiding in a bunker right now, so he believes the threat of nuclear war is low. They track his every move, and it’s no fun hiding in a bunker in Siberia any time of the year that is for sure. Summers are short he will be at his Palace in Sochi for the summer and 80F and sunny.
That kid Jack Sweeney that was tracking Elon’s Jet tracks Putin’s planes too, twitter will know if something is up. All the Billionaires will too they will scatter before any heavy weapons exchange.
“Realtors are slime. The most unregulated business in the country…Realtors are pure examples of unregulated capitalism. Isn’t that what Americans want?”
Why would one want more government regulation? How would that help?
Realtors are professional services providers…no different than bankers, accountants, stockbrokers, lawyers, etc.
Isn’t the onus on the consumer to choose their products and service providers wisely? In all aspects of life?
I don’t buy engagement rings, TVs, or anything for that matter out of some guy’s trunk in the back of a parking lot after hours. I don’t buy expired meats sitting unrefrigerated. I don’t hire cleaning ladies that would rob me blind when they’re in my house alone.
I also don’t purchase professional services from idiots.
Realtors are slightly different from the aforementioned professional service providers in that the RE industry was wildly isolated from competition on a level most other industries were unable to attain…Few industries had such an artificial moat so deep so recently due to a monopoly on the basic data. I’m old enough to remember that the only way one could discover simply which homes were even for sale (let alone comps, sales, delistings, expired, withdrawn, etc) was to be permitted in a realtors office and go through the weekly telephone book size MLS catalogue that only they had. There was literally no other way one could even know what product was offered.
Think about that…relate it to say stocks….even at their worst (pre-1970s fixed commission) you could at least know what product was ‘for sale’ and a timely update of offer price (daily closing prices in the newspapers) without engaging a stockbroker….
RE is nothing more than one of the last remaining service industries disintermediating and had been immune from competition longer than most because of the width and depth of the moat they had erected…the situation of having a stranglehold on even the most basic of data allowed entirely incompetent actors to proliferate on both the business (broker) and individual (salesperson) level.
If you are dumb enough to hire an aged housewife who has literally no meaningful employment or business experience in her life and who is entirely clueless on basic legal and financial concepts to find, negotiate, and close a major long term purchase that’s on you, not on some lack of regulation.
If you do so relying on that individual I suspect you will experience less than optimal results…no different than when your finances are cleaned out with Stratton Oakmont as your broker, you spend two days on the shitter after buying half price three day old warm chicken, most of your possessions are missing after hiring two prison tatted women to clean your house off a listing from the Newark craigslist with no references, and your living room ignites from the TV purchased after hours in the parking lot from some guy’s trunk.
More meaningless and unenforceable regulation is not the answer. Opening your eyes and using less brainpower than a cheap mobile phone requires in sleep mode when making a major decision regarding your own personal and financial well being is the answer.
3B – G20 meeting tomorrow, Yellen will be pitching the cap on Russian oil, says they won’t insure the tankers if they don’t agree the G20 countries etc, like China and India who are already buying discounted Russian oil but not at $60 a barrel as proposed. The Russian finance minister will be there, expect a walkout but perhaps not everyone in the G20 leaving.
Crazy thought here but the Russians use their own tanker fleet the Sovcomflot tanker fleet totals about 110 tankers, and unless we start a blockade in the Baltic Sea and the I doubt the insurance issue will bother them much. The other side of the world is where they ship the oil to China and the rest of the Asian world there is no way to blockade Sakhalin Island and the sea of Japan where the oil flows freely via Russian tankers too.
“Why would one want more government regulation? How would that help?”
I , like you, are for less government regulation.
For the same reason, don’t know. I’d be for more regulation if the govt weren’t inept, lazy and corrupt.
Also, house shopping and car shopping are times when you get to choose your provider. Come into the institution where I work under the wrong conditions and you get the next batter in the lineup. You need some sort of standard.
The corporate/government partnership needs to be dissolved. But it’s not going to happen.
The legal system in America is a joke. That’s why you can’t even get rid of something like phone calls trying to convince you to buy extended warranties on your car.
The first big step would be jail time for civil crimes. No more “pay a fine it’s all part of doing business.” Lock ’em up.
Either that or give us all access to Pegasus. I’d like to know what my realtor, attorney, or car salesman is really up to.
If I could buy Russian gas I would.
Can’t afford to pay for Biden’s “Freedom.”
Neither can many others I know.
The counter argument from OPEC or the G20 to Biden and Yellen asking for more oil and capping Russian oil prices is why does the USA not pump more oil and gas to make up for the Russian shortfalls? I am sure those G20 countries would be willing to buy ONLY American Oil at a cap price of $6o a barrel all year long and LNG at a 40% discount too…..
America, since it “convinced” Europe to cut Russian supplies, should provide from it’s own supplies all the oil and gas that Europe needs at the same price Russia was charging for it.
It’s only fair.
Plus free shipping. Like Amazon.
Foreclosure Surge Hits NJ Hard, 2nd-Highest Rate In U.S.: Report
“It’s important to note that many of the foreclosure starts we’re seeing today — in fact, much of the overall foreclosure activity we’re seeing right now — is on loans that were either already in foreclosure or were more than 120 days delinquent prior to the pandemic,” Sharga said. “Many of these loans were protected by the government’s foreclosure moratorium, or they would have already been foreclosed on two years ago. There’s very little delinquency or default activity that’s truly new in the numbers we’re tracking.”
This is gonna hurt:
More than 500 women filed a joint lawsuit on July 13 against Uber alleging they were sexually assaulted, kidnapped, or otherwise attacked by drivers.
‘Women passengers in multiple states were kidnapped, sexually assaulted, sexually battered, raped, falsely imprisoned, stalked, harassed, or otherwise attacked by Uber drivers with whom they had been paired,’ according to a press release by the legal team, Slater Slater Shulman LLP.
Phoenix – We are shipping them all the natural gas we can, there simply are not enough turbines and compressors at existing LNG liquefaction plants. The energy companies that run those plants have now asked for a waiver from the new EPA enforcement of formaldehyde emissions regulations, another one that will have to land on Joe Biden’s desk for sure.
Fun fact we did not export much LNG until about 2016. Cheniere energy is the biggest US firm. Stock LNG is at an all time high.
Gas 4.70 per gallon, diesel 6.
Some cancer due to Formaldehyde.
Freedom isn’t free.
Sorry about that tumor on your head Zoe.
I know you are only 12 and won’t get to live as long as me- or become President as a Senior Citizen as I did.
Sucks to be you!
Droopy Joe Biden.
Batteries produce no energy. They are storage containers that actually require a lot of energy to manufacture.
You still have to have an energy source to fill it.
#1 reason I am voting R this November . . .
The Biden White House has stated on numerous occasions by numerous spokespeople that private companies are “gauging” consumers.
I simply and vehemently disagree with this. Price and free exchange are the mechanism we use to apportion goods. High prices mean that consumers get to show if they really value a good. If the meat companies or gas stations are “gauging” consumers, then competition will come into the market and whittle those margins down (unless the government precludes that competition for some reason, in a manner similar to our zoning laws). I don’t know what a meat processing plant costs, but even if its $1B+, there are people with the pockets and loan lines that can make that happen AND they will if there are real and durable 20%+ margins to be had.
Similarly, on this blog, many have noted the long lead times for all sorts of inputs (construction material, alcohol distilling components, etc). Well, if you call up the boss of some vendor and offer to pay double for it, you will get product this week. The product is going to be product that had been marked for someone else and that someone else guy is gonna get a story about shipping delays or whatever.
Outside of edge cases (like, emergency room life-saving procedures), educated people shouldn’t acknowledge that “gauging” is a real thing. We can all substitute away from meat. We can all re-orient our lives to drive much less (it’s just moving from West Orange to Newark because you work in downtown Newark is so much more expensive in terms of quality of life and moving costs than paying for even $20/gallon gas).
If Biden wanted to say that he will implement policies to confront and lower high inflation, high food costs or high gas prices, then Fine. Calling it guaging is insulting to anyone with sense.
Left: My point with regulation is , that if you do it to protect consumers, the biggest impact financially to consumers would be the purchase of real estate. There is almost no regulation in that sphere.
just saw a mild road rage incident. Two middle age white guys, in their cars (one on the side of the road, the other in the middle of the road, blocking multiple cars). Just sitting there, yelling at each other.
Strangely, both guys were shirtless.
Is it just me, or do any of you guys drive around town without your shirts on?
Didn’t see their license plates- maybe they were from florida?
I’ll tell you what they should regulate for consumers with respect to real estate. The constant calls from “real estate investors” that are cold calling to see if you want to sell your real estate. It seems to me that a telemarketer calling after you’ve verbally told them to take you off their list should be a CFA violation with a regulatory penalty of at least $1,000.00 per call (albeit, good luck collecting from “Three Parrots RE, LLC”, but that’s a different issue). I disagree strongly with the idea that a consumer should need to PROVIDE INFORMATION (which will be hacked) to a “Do Not Call” list. An audio recording of the sales calls should be sufficient for a claim to stand.
I’ve told the same specific lady (who is calling on behalf of a group of real estate investors) to f off at least a dozen times over the last 18 months or so.
I was thinking of complaining and following up with some kind of state agency, but the work is more than just screaming obscenities at them every few days and going forward with life. Since they are NOT real estate agents, there isn’t really a direct State Agency with jurisdiction over this kind of annoying commercial activity.
Crushed. I get so many vulture calls I tell them I sold my property already. My other move is to tell them that if they don’t offer 7 figures, I am not interested. The latter actually works better.
Pretty cheap gamble to hire a bunch of offshore folks to cold call people all day long in the hopes that someone bites.
My old real estate mentor used to do it. He had a system to identify properties owned by out of state owners, and he probably knew every single one of them on a first name basis, if the grass so much as got a little too high, or the lights didn’t go on at night, he was hunting.
He made a fortune by scoping the obituaries. He once told me he gave kickbacks to the obit guy at the Bergen Record to get him the obituaries the day before they printed, so he could scoop everyone else on getting the listing. Probably did the same thing with every Funeral Home too.
Italys government collapses, Euro on par with the Dollar, oh and the Ukraine war. It’s getting uglier in Europe.
The dude even bought and sold grave plots, and did it very profitably.
But the crown prince’s rule has also been defined by his institutionalization of force — both to quash domestic dissent and to pursue a more muscular foreign policy. Stepping beyond the old Saudi model of quietly cultivating influence with cash-driven diplomacy, Crown Prince Mohammed has bombed Yemen, moved aggressively to jail activists and critics and, according to the CIA, dispatched the hit squad that murdered Saudi journalist Jamal Khashoggi.
It was because of these human rights concerns that Biden vowed during his election campaign to make Saudi Arabia a “pariah” and refused once in office to speak with Crown Prince Mohammed, seeking to punish him with isolation.
It did not work.
The democrats new campaign slogan: “It did not work.” Meanwhile, Iran is saying, “Hold my beer.” And Europe, don’t be looking to us for heating oil and natural gas for the winter, O’Biden pandered to the climate warriors at home. In fact, he’s strapping on knee pads as we speak, bowing to a Saudi prince like a prison b1tch begging for privileges.
re: “dude even bought and sold grave plots”
Booming business people are dying to get in….you can even pick a nicer town than you live in to be buried in LOL!…
Neighbors house is now pending, still pretty quick. I haven’t seen any come back on the market, but that could change.
Eddie – Biden has refused to deal directly with Crown Prince Mohammed bin Salman as Saudi’s de facto ruler. However there is a way out for him politically. King Salman is still around at 86 years old, his son the crown prince might not even been seen with Biden. Biden has met the King many times in the past and will probably do a regular handshake or fist bump like he did with the Israelis yesterday, you can bet there will be at least one pic most likely one of them sitting in chairs etc. It’s custom to even hold hands with the Saudi Royalty. In fact, if a man chooses not to touch another when greeting, it can be interpreted as a sign of distance or disdain.
Like it our not we need them for their oil and well as a counter to Iran, and what remains of the terrorists in the middle east. Biden knows this and there won’t be any negative words spoken about MBS. There is also a large amount of US arms and tech they want a billion dollars worth of missiles etc including Patriot missiles.
There will be a deal struck for arms and a promise for more oil, but as I have been saying they don’t have much spare capacity to offer, it may never materialize.
Trump says he called OPEC and told producer group to bring fuel prices down
PUBLISHED FRI, APR 26 2019
I follow the war in Ukraine to obtain a better picture as to the long term outlook for commodity prices and the world economies.. Much of what passes for news regarding the war in Ukraine is pure propaganda. For a better understanding of the daily situation on the battlefield, I recommend the Military Summary channel on YouTube. According to their (and other) reports, Ukraine is losing territory every day and their casualties are high and unsustainable. The new weapon systems provided by the West have not changed that outcome. Unless the Ukrainians can turn things around, the entire Donbas region will be in Russian control within a few weeks.
Russia is taking the land and not giving it back. Just got more pushback than they did via Crimea. Politicos love dragging this out as much as possible because the money going to Ukraine is being laundered back into their pockets.
Gas is $3.97 in my town.
A no name station was at $3.95
Don’t be surprised if the Russian invasion collapses in a few months. If Ukraine can keep taking out Russia supply depots Russia is going to have to retreat. Russia was only able to slowly advance due to mass bombardments. Their advance has ground to a halt.
I think chik-fil-a meal with a sunjoy , (that’s half sweet tea half lemonade) cured my Covid. Had it 2 days in a row and feel all better. Pulse Oximeter hit 97-98 after todays lunch. Was 94-95 since I got sick. Don’t underestimate the power of fried chicken
secret service erased texts.
have to have a study on that and get it into a medical journal.
There would be lots of volunteers for a study like that on both sides of politics. Maybe it’s the combo of brined chicken with sweet tea and lemonade is the key.
Or just the impact of Jesus!
Biden is going to keep alive the truth and HONOR of the Holocaust. The gaffes are just unending with this President.
Eating there can be a religious experience.
Demand didn’t go away, it just got scared away. With so much gloom out there, I’m about to just get bullish. Will wait and see, but prob not going to get cheaper opportunities with this much gloom. So many people holding back stock and home purchases. They have the means, but are holding back.
“I￼n February, she and her husband started looking for their first home purchase. But in recent weeks, after watching their stock portfolio sink and interest rates rise, they have put the search on hold.”
“People Have Money but Feel Glum—What Does That Mean for the Economy?
Strong job market and savings have shielded consumer spending so far, but it is endangered by inflation that has some households running scared”-wsj
Saw my first alive coyote in NJ today.
In S. Plainfield, of all places.
Forgot to share from the WSJ article…just realized I didn’t.
“Cash reserves rose across income groups. JPMorgan, tracking 7.5 million of its own accounts, found that checking-account balances averaged nearly $1,400 among its lowest-income customers in the first quarter, up from under $900 before the pandemic. Among its highest-income accounts, balances rose to almost $7,000 from less than $5,500.”
That’s how you know this was a supply chain induced inflation….people are holding back big time. They aren’t spending like animals. Weirdest recession ever…it’s not based on job losses, but inflation induced broken supply chains. If I hear another idiot tell me it’s from Fed printing money, I will punch them in the face for spreading bs.
Saw a huge coyote eat a dead deer at night during a winter storm (can see clearly at night during a snow storm). Got footage of it from my NEST camera in the driveway too. Came back to eat from the deer for 3 nights until govt picked up the dead deer. Thought it was a wolf it was so big.
July 14, 2022 at 9:01 pm
Saw my first alive coyote in NJ today.
In S. Plainfield, of all places.
“Amazon.com Inc. has started drastically reducing the number of items it sells under its own brands, and the company has discussed the possibility of exiting the private-label business entirely to alleviate regulatory pressure, according to people familiar with the matter.”
Now this scares me…
“Reports of rapidly escalating refusals to pay mortgages in recent days have sparked losses in Chinese bank shares and developer bonds, reflecting concerns that the nation’s property crisis may spread to the financial system…”
I think i’m giving up with getting ETH under a $1,000.
Vast majority of bidens top 68 appointees have no business experience.