Back Again

From CNBC:

Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates

When mortgage rates rise, consumers look for any way to lower their monthly payments, and that often leads them to adjustable-rate mortgages. These loans offer lower interest rates than their fixed-rate counterparts but are considered riskier. While they can be fixed for up to 10 years, they eventually adjust to an unknown future market rate.

The share of ARM applications rose to 7.8% of mortgage demand last week, according to the Mortgage Bankers Association. That is the highest level of the year. When mortgage rates hit record lows in 2021, the ARM share of applications was in the 3% range.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 7.29% last week from 7.24% the previous week, with points decreasing to 0.65 from 0.66 (including the origination fee) for loans with a 20% down payment. Meanwhile, the average contract interest rate for 5/1 ARMs fell to 6.60% from 6.64%.

“Inflation remains stubbornly high, and this trend is convincing markets that rates, including mortgage rates, are going to stay higher for longer. No doubt, this is a headwind for the housing and mortgage markets, with the 30-year fixed mortgage rate increasing to 7.29 percent last week, the highest level since November 2023,” said Mike Fratantoni, senior vice president and chief economist at the MBA.

This entry was posted in Economics, Housing Bubble, Risky Lending. Bookmark the permalink.

105 Responses to Back Again

  1. Hold my beer says:

    First

  2. Chicago says:

    With an inverted curve, ARM’a provide a benefit?

    I guess if it’s true it can’t be argued, but it sounds dubious to me.

    You can’t get blood from a stone.

  3. Chicago says:

    My son smoked night of 3200’s in Holmdel.

    Ran a 9:08.44 as a junior.

    He just kicked some doors wide open.

  4. 3b says:

    Fed Futures predicting less than 50 percent change of rate cut in September.

  5. Very Stable Genius says:

    That’s because kids today are more aware and want to reverse the damage created by Maga and the boomer generation.

    Old realtor says:
    May 1, 2024 at 7:46 am
    Huge difference between the anti Vietnam war protestors and today’s student protestors. The people protesting in the 60s and 70s faced being drafted and fighting in that war. They had a direct stake in the situation they were protesting. For the vast majority of those students protesting today, there is no personal stake in this protest

  6. AJ says:

    That is some serious speed…nice time!

    Chicago says:
    May 1, 2024 at 8:29 am
    My son smoked night of 3200’s in Holmdel.

    Ran a 9:08.44 as a junior.

  7. Traitorjoe says:

    Yeah. Achievement and wealth are viewed negatively by the college age. Indoctrination has taught them they are the root of evil. Virtue signaling on phones their parents bought them is the new currency.

  8. Very Stable Genius says:

    Neither achievement nor wealth of a high-school education buying a $30k house in the 1970’s to sell it today for a million. Not impressed by such achievement.

  9. Fast Eddie says:

    That’s because kids today are more aware and want to reverse the damage created by Maga and the boomer generation.

    More aware of what? And what’s the plan to reverse the damage?

    Christ almighty, why am I even asking a cardboard cutout to offer a response.

  10. Fast Eddie says:

    Neither achievement nor wealth of a high-school education buying a $30k house in the 1970’s to sell it today for a million.

    Is there a verb in this statement?

  11. Hold my beer says:

    VSG @ 9:04

    When bots go bad.

  12. Boomer Remover says:

    Boomers out there with a HS education on their way to deposit their pension checks, knee deep in Facebook AI propaganda, juggling a primary with a 17,584%gain, investment and inherited properties.

    So much is currently required of a younger person to enjoy that level of residuals/net worth.

  13. Phoenix says:

    Why bother with an agreement you aren’t going to stick to? Amazing that after all these years the mistakes made are now coming home to roost.

    https://youtu.be/fndEkeob5tY?t=772

  14. Fast Eddie says:

    Does actual death need to occur to be a victim of terr0rism? If not, then the majority of our college campuses are under assault. And if it’s not considered terr0rism, then we’re witnessing the product of grooming at the hands of our enemies.

  15. Libturd says:

    Just dumb kids. I imagine, I would have joined them if I was their age.

    Chi, impressive speed. Ow how to monetize it? New Jack Hustler?

  16. Fast Eddie says:

    “Inflation remains stubbornly high, and this trend is convincing markets that rates, including mortgage rates, are going to stay higher for longer.”

    I’d be suicidal shopping for a house in the current conditions.

    Higher for longer. I gotta write a song with this name. I’ll think of a theme. Higher for longer… new designer drug? Living out one’s last days? In love with a girl destined to end but don’t want to face the pain?

  17. BRT says:

    It’s not ironic that people who toss around the term Nazi and “literally Hitler” have no self awareness of their own actions.

  18. 3b says:

    Lib: I think you are being way too dismissive in your comments about them just being young kids. I think you might be struggling with the fact that it’s more than that.

  19. 3b says:

    Boomer: Are the college grads with the pension checks ok?

  20. BRT says:

    It’s not just the kids, it’s the professors and in some cases, the university presidents.

  21. OC1 says:

    “If not, then the majority of our college campuses are under assault.”

    There are close to 4,000 colleges and universities in the US. How many of those are “under assault”?

    “And if it’s not considered terr0rism, then we’re witnessing the product of grooming at the hands of our enemies.”

    Always easy to blame those “groomers”!

    But in reality, the people who by far have the greatest influence on their kids opinions and attitudes are their parents.

    So if you’re looking for someone to blame for the protests point your finger at the generation that raised them, and kids in college today were raised almost entirely by Gen X.

    Hey, aren’t most of you guys Gen X?

    Finally we have a problem that we can’t blame on the Boomers!

  22. Fast Eddie says:

    What did joe say in the press conference, addressing the American people?

  23. Hold my beer says:

    The everyone gets a trophy generation demands to be fed while breaking into and occupying, damaging college property. Then cries when adults finally act and arrest them for burglary and a few misdemeanors.

  24. Jim says:

    OC1 says:
    May 1, 2024 at 11:29 am

    Refreshing post! Actually all the snowflakes blaming baby boomers for everything has frankly gotten old. VSG has to be the biggest crybaby on this board…..by a long shot.

    Pull yourself up by your own bootstraps and act like adults not wimpy little crybabies.

  25. 3b says:

    Oc1 Has a point. Just saying.

  26. OC1's sock puppet says:

    OC1 always has a point!

  27. Libturd says:

    45 of 6,000 campuses had any kind of protest and 40 of them amounted to a few goth kids holding signs. The anti-semitism were kids being dumb, in the moment. You will see, with the Columbia arrests, it’s most likely over. I knew it was complete bullshit when: 1) the protesters all wore masks hiding their identity. Might as well have a tape recorder yell fire in a theater. 2) when you see the same matching tents on multiple campuses, you realize it is mostly funded agitation. 3) when you’ve been around as long as I have been, you learn to concern yourself with a temple shooting in Pittsburgh, not so much from kids a’shouting in the quad. 4) the bigger story is why does no one care about the half a million Ukrainians killed and tens of thousands of innocent civilians who wanted nothing more than independence? 5) I have no sympathy whatsoever for the palestinians. Israel has always bent over backwards to try to obtain peace with all of its Arab neighbors. Though Israel has its fringes just like us, they are truly a democracy. Heck, I don’t doubt for a minute that this military operation would have stopped the moment the hostages were returned and Hamas laid down their arms. They still have chosen not to, hence, no sympathy from me. The number of civilians killed has been incredibly low, unlike Putin’s war, where infrastructure is the main target.

    There’s plenty of anti-Semitism here. I have witnessed it first-hand, mostly among working class and the less educated set. Sadly, the more religious people seem to be, the more anti-Semitic they tend to be as well.

  28. 3b says:

    Lib: I was pretty much with you on your post, until you said the anti- Semitisim is confined mainly to the working class, and that’s where I believe you are wrong. It’s not just the working class, it’s the liberal elites, the intellectuals as well not all of course, but much more than perhaps you are willing to believe. It was quiet, whispered, but it’s certainly there. I mean no disrespect to you , but I think many American Jews may be starting to realize this, or acknowledge it, and they are struggling with it.

  29. Very Stable Genius says:

    Many so called protesters are actually Maga operatives planting false flags.

    Boomers are easily triggered and become hysterical when kids act dumb.

  30. Very Stable Genius says:

    All those Maga in here didn’t say anything when Trump called neoNazis “very fine people”

  31. Old realtor says:

    And I thought most of the liberal elite were Jewish. There is antisemitism at all economic levels. There are plenty of antisemitic people on the Right. Let’s not forget Charlottesville

  32. 3b says:

    Old: There are liberal elites who are not Jewish , and I think you know that. Again, it is much easier to think anti/Semitic sentiment is confined to the ignorant, uneducated, unwashed right wing Americans, but it is not.

  33. Phoenix says:

    Weren’t Gen X raised by the boomers?

    We can still blame them. Hehe.

  34. leftwing says:

    “Neither achievement nor wealth of a high-school education buying a $30k house in the 1970’s to sell it today for a million. Not impressed by such achievement.”

    Typical Liberal tripe, all misinformed emotion and no maths….

    That $30k house in the 1970s gets to $1m with only a 6.75% annual appreciation. Meaningfully less than a buy and hold market investment return.

    The key to that persons ‘wealth’ was investing early…which nearly by definition for you Leftists comes from hard work and personal sacrifice. Admittedly, these are concepts with which you may only have a passing familiarity…

    But, yeah, go ahead and begrudge someone 50 years of meh returns because the guy was a responsible young adult…during a period when mortgage rates were 7.5% no less….

    Seriously, either you Liberals are just trolling or if you actually are this oblivious how in the world do you function in everyday life?

  35. Phoenix says:

    Old realtor says:
    May 1, 2024 at 12:47 pm
    And I thought most of the liberal elite were Jewish. There is antisemitism at all economic levels. There are plenty of antisemitic people on the Right.

    And plenty of sinners in the Catholic Church. Teachers in the schools molesting kids.

    There is a bit of everything everywhere. There are no safe spaces. But this might help.

    https://youtu.be/ib-Qiyklq-Q

  36. Phoenix says:

    The key to that persons ‘wealth’ was investing early…which nearly by definition for you Leftists comes from hard work and personal sacrifice. Admittedly, these are concepts with which you may only have a passing familiarity.

    Plus a bit of luck. In health, and relationships.

    Then this rings true.

  37. 3b says:

    Phoenix: Gen X is defined as born between 1965 to 1980, so I guess we can say the older boomers raised Gen X.

  38. OC1 says:

    “Many so called protesters are actually Maga operatives planting false flags.”

    Did you forget to take your meds?

  39. leftwing says:

    “Lib: I think you are being way too dismissive in your comments about them just being young kids. I think you might be struggling with the fact that it’s more than that.”

    Of course he is….love the dude but nearly every political post of his for the last 24 months has been filtered through some ‘traditional Democrat kill switch’ in his brain…

    He starts out with facts and logic but as he nears the inevitable conclusion that SloJoe is a horror show, the Left’s social experiment with real peoples’ lives over the last 50 years is a miserable failure, BLM uprisings weren’t riots, etc., etc. there is almost an electro-shock type therapy in his brain that lights up and screams ‘you can’t type that!!!’. Like a reverse Pavlovian response. He does drag himself to the dry creek bed of ‘they both suck’ at least. Baby steps count, I guess.

    Give him a couple more turns on the wealth and his opinions will change, hopefully demeanor will as well because it would be a shame for him to become just another limousine liberal…

  40. OC1 says:

    “That $30k house in the 1970s gets to $1m with only a 6.75% annual appreciation. Meaningfully less than a buy and hold market investment return.”

    That’s a phenomenal return on a house! From the 1800’s up until the 1980’s, housing appreciation (for the market as a whole) was close to zero real (according to the Case-Shiller index).

    It’s only in the age of NIMBYism and restrictive zoning that you get those kind of returns.

  41. leftwing says:

    You’re comparing real vs. nominal…..

  42. Phoenix says:

    It’s only in the age of NIMBYism and restrictive zoning that you get those kind of returns.

    And the fact that hedge funds and dying old goats are hoarding houses like Scrooge McDuck.

  43. Very Stable Genius says:

    Some of them are Maga planting false flags.

    NYC Mayor Adams: ‘Outside agitators’ were part of campus protests
    By — Associated Press
    Politics May 1, 2024 9:54 AM EDT
    New York City Mayor Eric Adams said in an appearance on on “CBS Mornings” on Wednesday that police had identified organizations and individuals who weren’t university students, but professional agitators.

  44. Phoenix says:

    Why are liberals so afraid of TikTok? It’s a great place to help you plan a vacation.

  45. OC1 says:

    “You’re comparing real vs. nominal…..”

    Still quite a bit higher than inflation over that time period.

  46. Boomer Remover says:

    My brother in law works at Citi. We were at a get together a while back and he got into a discussion with someone about real estate and rates and cited “Citi’s team of economists are projecting seven rate cuts.” I gave out a sneer of sorts and he gave me the what do you a pleb know these are ivy trained economists. It hope that interaction continues to occupy as much of his mind as it does mine.

    My one rate hike dream remains alive.

  47. leftwing says:

    OC1, wouldn’t deny it, but you give no data…

    Plus you reference 1800 (!) but quote 1980 onward as an anomaly…the period in question from the OP is 1970 onward, so that’s what matters, not pre-Industrial America…

    And if we are going to nitpick don’t forget the front end of that 1970 housing investment was likely juiced even higher than average (likely much higher) given the rampant inflation right out of the box for that homeowner…for anyone not familiar with compounding, several early above average increases out of the box greatly boost your IRR….

  48. Fast Eddie says:

    I see that SBUX took a beating in Q1 and stock dropped 18%. Are the muppets finally realizing this company’s politics sucks as much as their over-priced products?

  49. Libturd says:

    So much to respond to.

    First, I do not deny that anti-semitism exists at nearly every income level. The point I was trying to make was that “I” only witnessed it first-hand among the blue-collar crowd. First, I experienced it among the poor black kids from the ghettos who went to my cheap ass Summer Camp growing up. Yeah, I went to a camp that the Fresh Air Fund was a vendor for. Second, when driving forklifts in Central Jersey warehouses to pay for college. More recently, I’ve been told that I’m not like most other Jews, by a general contractor from Vernon as well as from a dude I am friends with who is a recovering alcoholic living on the dole (he’s disabled) down by Camden. I fully expected to experience it in Glen Ridge as it’s pretty waspy and very country club (heck, the Glen Ridge CC did not allow Jewish members until more recent years), but it was the opposite of what I expected. Not only did families want to sponsor us to join the club, but when the “D” got sick, so many of our neighbors in town, including the thin blue line, went overboard to help us out.

    Leftwing. I appreciate your description of my supposed TDS, but it’s really not this way. As a matter of a fact, you have no idea how silly you sound when you speak of Biden’s handlers and similar MAGA bullshit. I dare you to listen to the recent Howard Stern interview of Joe Biden. There is no teleprompter or prepared questions. You will learn that he was formerly a terrible stutterer, which he was able to overcome, but it does make him appear incoherent. I really learned a lot about the President during this interview that I was clueless of. I really dare you to listen it. Now, I’ve been around for quite a long time. Voted for many Republicans and Dems and respect and agree with your belief that the country is best off with mixed control between the houses. Why? Because the shit ain’t broke. But you somehow find no issue whatsoever with a President being caught on tape asking for 11,000 votes from an election official. As a centrist, I had little problem with Reagan, Bush Sr. and Obama. The rest of them, were either idiots or way to in it for their own sake. I look at Biden’s first term and see mostly successes. We know the populist strategy is to make something up and repeat it endlessly until people believe it. Whether it be Hillary’s emails, Hunter’s Laptop, and now Biden’s coherence. Or better yet, the election was stolen. But the man was caught on tape asking an election official for 11,000 votes. He asked his VEEP not to certify the election. As the Capitol was being ransacked, he stood by in admiration and did absolutely nothing to stop it. These are facts! Not narratives made up by MSNBC or CNN. Yet I am continually bombarded with these dumb screeds that I am a helpless liberal suffering from some mental disorder. I think perhaps you should watch the Biden interview, and this https://youtu.be/PeUWiSREj0E?si=AQugSc_RNwp3QK7O and tell me again that I am not seeing things as they are.

    Perhaps, instead of grabbing them by the pussy, he should have stopped acting like such a pussy.

    Again, I can’t believe you don’t see the danger this habitual liar presents to our country. In my opinion, so much more dangerous than the corruption that seems to permeate through the established members of the former Republicans and current Democrats.

  50. chicagofinance says:

    Europeans hate Jews. Israel is a haven not because of the United States, but because every Muslim country (except Albania) has run them off, and every European country would happily exterminate them. We don’t see it around here because they are woven into the fabric of our society, but that reality is inherently an American phenomenon. You think I rail on FlabMax by accident. 2023-2024 is the sunlight that disintfects.

    3b says:
    May 1, 2024 at 12:34 pm
    Lib: I was pretty much with you on your post, until you said the anti- Semitisim is confined mainly to the working class, and that’s where I believe you are wrong. It’s not just the working class, it’s the liberal elites, the intellectuals as well not all of course, but much more than perhaps you are willing to believe. It was quiet, whispered, but it’s certainly there.

  51. Juice Box says:

    Chi – How many hostages were rescued by dropping 2,000 lb bombs?

    These are biggest there are for a fighter jet to carry and launch?

    These 2,00 bombs have a lethal fragmentation radius of 365 meters (about 1,198-ft), it ain’t a smart bomb it will kill pretty much everyone in that massive blast radius.

    Check NYT reporting on it.

    Make no mistake it ain’t about killing just terrorists. It’s about sending a message to well even woman and children who themselves can be considered hostages.

    There was no evacuation route for children, never mind adults……

    It is what it is nobody here will fight in Ukraine, the Middle East or Asia… We all have keyboard to fight with.

  52. Juice Box says:

    LIb – “I’ve been told that I’m not like most other Jews”

    Yes Rain Man all Jews are the same and all want to return to Israel for the coming gathering of the exiled diaspora, the coming of the Jewish Messiah, the afterlife, and the resurrection of the dead. (Zombies are fun right?).

    Voltaire I think said it best about 250 years ago now for instance, “blind religious obedience and unthinking observance to scripture.” I don’t speak French well so I translated it for ya….it applies today and nearly everyone of any faith.

    Just to be clear Christians, Muslims and others?

    Too bad we cannot get everyone to separate church and state? Few places have it in their laws even my old homeland.

  53. Jim says:

    Libturd says:
    May 1, 2024 at 5:21 pm
    I look at Biden’s first term and see mostly successes.

    Maybe you missed a few things Stu 1, highest inflation since the 70s and he still has 6 months that it will increase 2. Biden has personally knocked 3 years off of SS until it collapses, and he still has 6 months to go 3. Biden told Republicans hands off SS , yet he has done absolutely nothing to fix it 4. Biden lost American lives in Afghanistan and refused to listen to his military 5. Has allowed 11 million illegal immigrants into our country, giving free Medicaid ,food, clothing, shelter…… the country is completely overwhelmed . The long term events will be a disaster. 6. Has taken millions from our enemies using 25 different bank accounts ( Sounds illegal to most of us , but not the Democrats). 7. Paying off student loans, and allowing colleges to continue to increase there tuition 5-9 % per year. No accountability whatsoever . 8. Biden ‘s food inflation has topped 33% felt by every family in America , people would like to know why we help other countries but not our own people. Charity should always start at home first. 9. You say Biden is so with it but he cannot even debate Trump, what kind of president is he? 10 . Biden suffers from dementia, he is not fit for another four years. If you can deny this you are a true blue Democrat and would even vote for a monkey running for president as long as he was Democratic. 11.Pretty much every modern president and Congress has failed on the national debt issue. But Biden has ratcheted it up to a whole new level. Currently the debt is over 34 Trillion dollars with no concerns about paying it down. God bless America because we are in trouble.

    I did watch the excerpts from Stern/Biden interview…. I was surprised they did not kiss at the completion. Stern was not only asking softball questions , and he was throwing them underhand. Stern lost all credibility when he stated how much hate he has for Trump. Biden said he will debate Trump, I have to see that. Talk is so cheap with Democrats, stories abound especially from Joe the story teller.

    I do not like either candidate, still wishing for a miracle. I do know if Biden is re-elected the country is absolute toast. Kennedy would be leaps and bounds better, but doubtful he can win.

  54. Libturd says:

    I would take kennedy over both of them. Won’t happen. Presidents don’t cause inflation and I would still argue we are dealing with the aftermath of all of that extra covid money that the wealthy got. As to spending, I will gladly put that chart up again that shows every president increases the debt at nearly the same rate. Ah, wtf. Here it is again and considering inflation, it’s not really as bad as you make it out to be. https://www.statista.com/chart/28393/us-public-debt/ And speaking of debt spending, so did Trump’s tax act. It didn’t bring in the extra revenue that was promise. So where did the money come to pay for all of those programs? The same place Biden’s comes from. Immigration may be a blessing in disguise. Time will tell. As of now, there are plenty of jobs at the lower end of the pay spectrum for all of these people to work. Afghanistan? That was Trump’s withdrawal plan. He negotiated with the Taliban and left the local government out. Call it the art of the deal. College debt? Better than giving it to the rich like Trump did. At least there is a return on the investment. Agree with the moral hazard though. Again, cutting taxes on the corporations to enrich executives and shareholders is much worse. I was honest about the Stern interview. Said he didn’t throw any hardballs. Stern is Pro Gun and more Libertarian than most. He is a registered Republican like me. He too can’t believe the mess and danger that MAGA represents. I’m sorry, you don’t get behind hanging the Vice President and you don’t call dead U.S. soldiers losers. But MAGA supporters are so very very stupid that they can look past that, or the fact he grabs them by the pussy or makes fun of the disabled, etc. Like I’ve said all along, I almost want to see Trump get a second term just so you can see what a giant fake the lying loser is. But I’m not sure if I could deal with the vitriol and complete assholery that MAGA represents. It truly is the party of mean. He takes over the RNC, and you see nothing wrong with it. He wants to end NATO, and you see nothing wrong with it. He wants to be an immune dictator and you see nothing wrong with it. He wants the elections board to find votes and you find nothing wrong with it. He wants to be above the law and you find nothing wrong with it. Again, how people can’t see the facade is beyond me.

    I know it’s politics and people rarely change their alliances, but Trump has destroyed the Republican Party and wants to be America’s Putin. How anyone can support this is completely beyond me. Everyone who lost their lives fighting for our freedom is rolling in their graves. I am much less a Biden fan than I am a Trump non-believer.

  55. OC1 says:

    Jim-

    On any economic measure (inflation, unemployment, GDP growth) the US is doing much better than every other advanced economy. Every country suffered through COVID, but no country has bounced back better than the US under Biden.

    And as for Biden’s “dementia”:

    He passed a bipartisan infrastructure bill (something Trump wanted but was never able to do);

    Critical industries like semi-conductor manufacturing are coming back to the US (something Trump wanted but was never able to do):

    He negotiated a bipartisan immigration reform bill with senate republicans (which house republicans refused to pass);

    He got bipartisan funding for Ukraine, Israel and Taiwan through a republican-lead house where many Rs were opposed to it.

    It’s actually kind of funny- Biden was going to give the Rs an immigration reform package that had virtually everything the R’s wanted in return for funding Ukraine. But those shrewd Rs in the house bargained him down to only giving Ukraine funding. Rumour has it that Mike Johnson even agreed to wash old Joe’s vette as part of the deal. ;)

    For a guy with dementia, he seems to play the political game pretty well.

    https://theweek.com/political-satire/1023927/poker-face-joe

    Old Joe ain’t perfect (no president is) but the country’s done pretty well on his watch (especially compared to everybody else).

    And as for your #6 – “Biden has taken millions from our enemies using 25 different bank accounts” – that sounds like grounds for impeachment!

    How are the house impeachment investigations going? With all the supposed evidence out there you would think they’d have gotten it done by now. ;)

    (Love that “poker face Joe” cartoon).

  56. Chicago says:

    Fristish

  57. Libturd says:

    I’m not sure that counts.

  58. Fast Eddie says:

    Third (Pause)

  59. TraitorJoe says:

    Get what done? Are you claiming that they have not proved the Bidens were influence peddling or that the democrat controlled senate would not impeach him for it? Two very different things.

    And there never was an “immigration bill”. It was a funding bill for the forever wars with some window dressing. Zero impact on immigration.

    I give the house republicans who voted for their bill credit for one thing being transparent in their efforts to sell us out.

  60. Fast Eddie says:

    Rockin’ party going on at UCLA right now.

    Tap that keg, dude!

  61. OC1 says:

    “Are you claiming that they have not proved the Bidens were influence peddling…”

    “The Bidens” aren’t president; Joe Biden is. If they had something on Joe, they would have impeached him by now.

  62. Chicago says:

    You don’t seem like other Jews.

    Libturd says:
    May 2, 2024 at 8:34 am
    I’m not sure that counts.

  63. Libturd says:

    No knish for you!

  64. TraaitorJoe says:

    There is substantial proof, both a paper trail and testimony that Joe is the big guy and a direct participant in the influence peddling. You chose to ignore it.

    There’s also been no other explanation put forward to explain what services the Bidens were providing, other than access to joes office. That should be very telling if you were the least bit. interested.

    Impeachment it’s the solution for a corrupt president, is also a waste of time with the current congress.

  65. Libturd says:

    Yet you are completely cool with Trump asking a Georgian election official to find 11,000 votes.

  66. Fast Eddie says:

    No knish for you!

    “So I said, Mama, I have Jewish and Italian coming for dinner, what do I cook?

    She said lox, parmigiana!”

  67. Traitorjoe says:

    No, I believe in election integrity. Right now we have none. It’s third world like this administration.

  68. Libturd says:

    Get out of your echo chamber for a change.

    The courts are rigged. The elections are rigged. Fake news. Fake news. Anything that goes against a Trump is a conspiracy or an injustice.

    Nothing to see here.

  69. Traitorjoe says:

    If Biden is so great and he can win fairly then why use weaponized government to rig the election. Maybe take a look in the mirror.

  70. Phoenix says:

    Courts are rigged 1/4 of the time.

    Stupid 1/4 of the time.

    Biased 1/4 of the time.

    Right 1/4 of the time (sheer f’n luck or slam dunk verdict).

    Any and all of these are often active in a combination.

    This is why justice is now being used on the internet instead. You think this Skanky D.A. wouldn’t have had the backlash she deserved if it weren’t for the internet?

    https://youtu.be/s-4dYWZg_ck?t=39

  71. Phoenix says:

    Each side knows the other side is dishonest.
    There is never a “fair” in a street fight. That’s an election. Pull out all of the stops. Money to be made in pallets of cash to the winners.

    Traitorjoe says:
    May 2, 2024 at 10:16 am
    If Biden is so great and he can win fairly then why use weaponized government to rig the election. Maybe take a look in the mirror.

  72. Phoenix says:

    Not all Jews are the same. Nor Catholics, Muslims, Whites, Blacks, Asians, etc.

    It’s all about the individual.

    Chicago says:
    May 2, 2024 at 9:36 am
    You don’t seem like other Jews.

    Libturd says:
    May 2, 2024 at 8:34 am
    I’m not sure that counts.

  73. Phoenix says:

    Universal Music Artists Will Return to TikTok.

    Taylor made it happen.

    But the dispute seemed to shift three weeks ago, when Swift — the biggest and most influential artist on Universal’s roster — broke ranks with the label and returned her music to TikTok, ahead of the release of her most recent album.

    Her move may have weakened Universal’s leverage. But since the ban took effect, fans noticed that songs from many other Universal artists, including Grande and Camila Cabello, had returned.

  74. Libturd says:

    “weaponized government”

    You mean like the Supreme Court?

    Both sides will do whatever is necessary, within the current laws. The problem with Trump, is that he thinks he is above the laws. Take the gag order for instance.

    And this whole “stolen election” thing. Trump still won’t admit he lost. Rep. Liz Cheney, the former chair of the House Republican Conference, stated on February 23: “The president and many around him pushed this idea that the election had been stolen. And that is a dangerous claim. It wasn’t true,” she said. “There were over 60 court cases where judges, including judges appointed by President Trump and other Republican presidents, looked at the evidence in many cases and said there is not widespread fraud.”

    Trump supporters are really a strange bunch. They accept anything and everything that Trump says at face value. Proof and facts matter none. If it sounds good and fits the narrative, then it’s the truth. He is like the king of the mattress salesmen. It’s no wonder he had such a bond with the MyPillow guy.

  75. Very Stable Genius says:

    Yes, there is antisemitism. Go at it against Europeans, Maga, southerners (‘Mississippi Burning’) and people with actual power.

    Attacking American college kids is dishonest, unproductive and another Maga attempt to divide us.

  76. Chicago says:

    Libturd says:
    May 2, 2024 at 10:08 am
    Get out of your echo chamber for a change.

    The courts are rigged. The elections are rigged. Fake news. Fake news. Anything that goes against a Trump is a conspiracy or an injustice.

    Nothing to see here.

    Fake orgasms?
    https://m.youtube.com/watch?v=cmhsMZFCIYU&pp=ygUjeWVzIHllcyBpbGwgaGF2ZSB3aGF0IHNoZSBpcyBoYXZpbmc%3D

  77. Libturd says:

    VSG,

    All of a sudden, the guys who are pro klan rallies are quick to point out anti-semitism.

  78. Phoenix says:

    You wanted a melting pot, you got it.

    Now you have stratification.

    By race.
    By religion.
    By skin color.
    And most important, by income.

    Hydrocarbons are everywhere. All we need is a match.

    Oh, and the new movie Civil War is out in the theatre. Just in time.

  79. Libturd says:

    https://photos.app.goo.gl/3BV4gXCjChUUMx7v8

    Jesus: “Love your enemies, do good to those who hate you, bless those who curse you.”

    Trump: “When people wrong you, go after those people, because it is a good feeling and because other people will see you doing it. I always get even.”

  80. TraitorJoe says:

    Gag orders on sham trials. Just more election rigging.

  81. OC1 says:

    “There is substantial proof, both a paper trail and testimony that Joe is the big guy and a direct participant in the influence peddling. You chose to ignore it.”

    Apparantly the Rs in the house are also choosing to ignore it, otherwise they’d impeach him.

    Or maybe, maybe… that “substantial proof” of which you speak is just BS?

  82. BRT says:

    https://twitter.com/TuckerGoodrich

    “Due to the dwindling supply of quality machine shops and very poor quality aftermarket parts as well as a lack of people interested in learning the engine building and machine shop trades, I regret to inform our many followers and current as well as past customers that we will no longer be taking on any new engine build orders unless it is for a car we are restoring. Since Covid, we have had to do rework on multiple engine builds due to poorly manufactured parts that failed during break in or machine work that was below our standards due to all the old farts like me dying off with no younger workers interested in taking their place. For example, rod bearings are now made too thin resulting in 390 and 401 crank grinds needing to be ground .0085, .0185 or .0285 under standard rod journal size yet all but one machine shop in the entire Phoenix area refused to do anything other than the standard .010, .020 or .030 grinds. Even worse, when the one shop that will grind the cranks the way we tell them we need them loses their crank grinder to retirement in another year or two, they do not plan to replace him. Machine work that used to have a turnaround of 2-3 weeks now takes a minimum of 2-4 months due to an acute lack of people interested in learning machine work and doing manual physical labor. In fact, one engine block was at a machine shop for a year and when we got it back hey did such a poor sleeve job in one cylinder that it was not even useable so it is now a 250 lb paper weight.

    About 15 years ago I nearly bought out an aging gentlemen’s machine shop and continue to regret not doing so due to the lack of availability of places to get the work done.

    As for poor quality parts, Edelbrock aluminum heads are now such poor quality and filled with so much manufacturing machining slag that we have to completely disassemble them, reset the valve stem and spring heights and even sometimes have them resurfaced because the slag scratched the head gasket surface. Similarly, there are only a couple of camshaft manufacturers remaining that harden their cams correctly and nearly all flat tappet lifters are now such terrible quality and inconsistent hardness that we are no longer willing to risk losing a cam due to poorly made cams and lifters. In fact, we now only use either rollers or custom ground flat tappets with Johnson made lifters from Howard or Herbert. For example, we have probably used 50 or more Summit cams over the past 15 years but the last 4 we used did not even make it through break in so they too are now off the list of acceptable quality parts as well.

    So what does all of this mean? We will honor whatever engines builds that are not part of a full restoration that we already have in the queue however we must warn all those who have been patiently waiting for their engines to be built that supply chain constraints in addition to rapidly declining parts quality along with a lack of qualified machine shop workers is resulting in our anticipated wait times to get an engine built often doubling in duration. And if anyone is tired of waiting and thinks they can do better elsewhere, we will fully refund their deposit and wish them well.

    What used to take a couple of weeks to get back from a machine shop can easily now take 2-4 months or more resulting in our overall engine backlog now being 15-18 months. The bottom line is that custom engine building is on its way to becoming extinct and it won’t be too many more years before all of us old farts that currently do this work either retire and/or die off resulting in engine building within the collector car hobby becoming nearly impossible to find. And when you do find someone, don’t be surprised if they are backed out 2+ years or more and that they only want to do Chevy builds and know zero about our beloved AMC engines. “The times they are a changin’.”

    And any know it all’s that are not in this business who try to show everyone how smart they think they are by declaring that these conditions do not exist, despite literally hundreds of others saying they are experiencing the exact same thing, will have their comments deleted because they are clearly talking out of their ass.”

  83. Very Stable Genius says:

    Nobody wants to work in manufacturing because late stage capitalism demands than only CEO gets livable wage.

  84. Very Stable Genius says:

    US NEWS BREAKING!

    Second Boeing whistleblower Joshua Dean dies suddenly from mysterious severe infection
    By Nika Shakhnazarova and Olivia Land

    Published May 2, 2024
    Updated May 2, 2024, 9:39 a.m. ET

  85. Fast Eddie says:

    Nobody wants to work in manufacturing because late stage capitalism demands than only CEO gets livable wage.

    Whoever created this algorithm needs to modify the statement and grammar output functionality.

  86. TraitorJoe says:

    Bobulinski was credible. He testified that the business model was access to Joe and that Joe was the big guy with a 10% vig.

    The irs agents were credible. They testified that every time a suspicious activity or evasion investigation was started against the Bidens it was stymied by a political appointee. Very telling was that tax charges were brought against Hunter when they came forward.

    The millions in payments many foreign to the Bidens and their partners corroborate them further.

    And other than not having a good record elsewhere to defend I don’t understand why the left defends his corruption. It’s not unique or hard to fathom in dc. They are nearly all doing it. A more credible defense would be that he’s doing it but it’s legal.

  87. SmallGovConservative says:

    Libturd says:
    May 2, 2024 at 10:08 am
    “Nothing to see here.”

    Lib doing his best Baghdad Bob impression…

    Joe’s corruption, Joe’s dementia, Joe’s Afghan debacle, Joe’s refusal to secure the country’s borders, Joe’s inflation, Joe’s fiscal recklessness, Joe’s silence on the anti-semitic ‘squad’ wing of the Dem party, Joe’s war in Europe, Joe’s war in the middle east, Joe’s inability to protect shipping via the Red Sea/Suez Canal, Joe’s weaponization of the DoJ, Joe’s abandonment of Israel, cocaine and topless trannies in Joe’s White House, Joe’s trading the world’s most notorious arms dealer for a basketball player, Joe being shuffled away from reporters by the Easter Bunny, etc, etc…

    Nothing to see…Really?

  88. Hold my beer says:

    Traitor Joe

    I don’t understand how people can be excited by anyone from the major parties.

    I’m probably voting for RFK or leaving that part of my ballot blank.

  89. Very Stable Genius says:

    Maga always grabbing each other

    3b says:
    April 26, 2024 at 1:36 pm
    Fast: As long as you don’t drive recklessly, you can continue to drive your BMW and be confident that penis issues do not apply to you.

  90. The Great Pumpkin says:

    This new nj lead paint law for landlords is a joke. These clowns. They cry about wanting cheap rent for people, but then you jack up the cost of renting out the apartment for landlords who will pass on the coast to tenants. Good job!

  91. Libturd says:

    Don’t you fret. The lead pipe law is coming next.

  92. Jim says:

    The Great Pumpkin says:
    May 2, 2024 at 3:09 pm

    I could not agree with you more, and that is hard for me to say to you.
    The taxes and now the new inspection fees are through the roof, in Newton if you have the town do inspection it is a $750 fee, plus a yearly fee of $200. Regular real estate taxes are over a $1,000 a month . Now my insurance company is looking for an approval to increases their rates.

    Rents can only be raised so much, I would sell but capital gains would take another $150,000 to $200,000. I can only beat the government if I die and my wife or kids would inherit building at market value and could actually sell it at a loss and actually get to keep all the money. I have to stay away from stairs so one of them do not push me down them. Just kidding!

  93. Jim says:

    SmallGovConservative says:
    May 2, 2024 at 1:31 pm

    You actually missed one of the biggest of Joes screw ups, He has used 40% of our strategic oil reserve putting our country at risk ….deep risk. If war broke out we would be sitting ducks after a month. Does he even know what he is doing?

  94. Libturd says:

    Gotta pay those pensions. I got out when the town told me I had to pay replace the main lead water pipe into the house. The last insurer made me run lead paint tests to get coverage. It’s just not worth the hassle anymore.

  95. Libturd says:

    Lets see how the country does without NATO, the FED and the Constitution.

  96. chicagofinance says:

    College idiots calling for ‘Intifada’ have no idea how many innocents have died from that word

    By Douglas Murray
    Published May 2, 2024, 2:32 p.m. ET

    This one is for the morons.

    For the students busily cosplaying at being terrorists on our city’s campuses.

    The automatons whose new radical-chic uniform is an Arab keffiyeh.

    Specifically to the ones who have decided to chant for “Intifada” and unveil a vast banner down the side of Hamilton Hall at Columbia this week.

    “Intifada,” the banner said, in huge letters as the mob below shrieked approval.

    Most of these students weren’t born when the Palestinians last had an “Intifada.”

    So although youth and ignorance aren’t any real excuse, perhaps I can educate these students about what they are actually calling for.

    I invite them to “do the work” of understanding what it means when people call for “Intifada” and what it actually means.

    In June 2001, the Intifada that Palestinian clerics and politicians had called for was in full flight.

    Every day Israelis boarding buses had to look around in case one of the other passengers was wearing a suicide vest and about to turn the vehicle into a charnel house.

    On June 1, young people in Tel Aviv were enjoying a beautiful summer evening.

    Many of them were milling around a nightclub much like those that the students at Columbia go to on a weekend.

    But this one was more beautifully located, sitting on the city’s beachfront.

    The Dolphinarium club was packed that night.

    Outside were crowds of young people hoping to get in.

    The Hamas terrorist detonated the bomb amid the queue of young women who were hoping to get into the club.

    He killed 21 young people.

    Sixteen of the victims were teenagers. Not even college age yet.

    The youngest of them was 14-year old Maria Tagilchev.

    Many of the victims were children of parents who had emigrated to Israel from the Soviet Union.

    Their parents fled one totalitarian regime only to lose their children to terrorism in Tel Aviv.

    Eyewitnesses described the limbs of the young women lying strewn across the road.

    Some of the bodies were lying in piles.

    This is what Intifada means.

    But perhaps the students at Columbia don’t care about those 21 people who never grew up.

    Perhaps they think, like Columbia protest leader Khymani James (pronouns he/she/they), that it doesn’t matter.

    As he said recently, “Zionists don’t deserve to live. I feel very comfortable, very comfortable, calling for those people to die.”

    Well, perhaps the students at Columbia care about the lives of Americans?

    In which case, they should know the names of Benjamin Blutstein, 25, from Harrisburg, Pennsylvania; Marla Bennett, 24, from San Diego; and David Gritz, 24, from Massachusetts.

    They were among the five American students killed, among nine in total, when Hamas attacked the cafeteria of the Hebrew University of Jerusalem on July 31, 2002.

    The students were enjoying a lunchtime break in the crowded cafeteria of the Frank Sinatra International Student Center when Hamas exploded its bomb.

    In the minutes after, dying students and 85 who were seriously wounded staggered out of the cafeteria.

    Many lost limbs, and even the living had burn marks on their bodies from which they will never recover.

    This is Intifada.

    But perhaps the students at Columbia and other campuses across America don’t care about these students either.

    While they dress in their Palestinian terrorist gear, perhaps they just think, “Well, it doesn’t matter. After all, they’re Jews. What were they doing at a Hebrew University anyway? Whatever it takes. By any means necessary.”

    To quote just a couple of the slogans you now hear on this nation’s campuses.

    Well, I’ll throw out one other example.

    Perhaps the students calling for Intifada should know the name of 20-year old George Khoury.

    George was a student at the Hebrew University of Jerusalem and an Arab.

    The students at Columbia probably don’t know such a thing is possible.

    After all, “Apartheid. Apartheid.”

    Right?

    Well, George Khoury was a student.

    He was also a member of a leading Arab family.

    On March 19, 2004, he was out jogging in Jerusalem.

    Members of the Al-Aqsa Martyrs Brigade thought Khoury was a Jew.

    And so they shot him.

    Of course.

    Specifically, they shot him in the stomach, the neck and the head. Just to make sure.

    George´s distraught father called the murder “barbaric.”

    “Terrorism” he said, “is blind.”

    Indeed.

    But “hate” is even blinder.

    This week, one of the Columbia protesters made herself famous by demanding that the university let in what she called “humanitarian aid.”

    It was interesting watching Johannah King-Slutzky do her performance art.

    She is a PhD student at Columbia in English and “comparative literature.”

    The world could probably do without the subject of her PhD.

    According to a now-deleted Columbia webpage, her research is about “theories of the imagination and poetry as interpreted through a Marxian lens in order to update and propose an alternative to historicist ideological critiques of the Romantic imagination.”

    I doubt that even King-Slutzky actually knows what any of that means.

    But she doesn’t have to worry.

    King-Slutzky doesn’t really have to worry about anything.

    She can occupy a university building, take part in a racist protest movement, call for “Intifada” and demand that the adults feed and water her while she does so.

    Call for Intifada, then call for water.

    That’s a nice gig right there.

    The perfect intersection of entitlement and evil.

    But what interests me about King-Slutzky is that she is 33.

    Think about how derailed your life has to be to be trying to use Marxian lenses to provide “an alternative to historicist ideological critiques of the Romantic imagination” at such an age.

    But what lies ahead of her?

    Not much.

    The thing is, she’s the lucky one. Unbelievably lucky.

    Like all the other students calling for Intifada on American campuses, King-Slutzky has had the chance to grow up.

    To some degree.

    That wasn’t a right that Maria got.

    Or Benjamin, Marla, David or George.

    Or many others.

    If the students at Columbia didn’t know what they’re calling for when they call for “Intifada,” perhaps they do now.

  97. 3b says:

    Hold: I am not voting for either one. I may vote myself as a write in candidate.

  98. Libturd says:

    I focus on taking care of myself and family and not the political class that only exists to enrich themselves. Trump is no different.

  99. LAX says:

    Trump IS different in the sense that he has left a trail of incarcerated people in his wake, he has thousands of lawsuits over the years, he’s not known for paying contractors. Oh, and he is an imbecile. Other than that you guys are virtually indistinguishable.

  100. The Great Pumpkin says:

    They are destroying small landlords…no one wants to do this bs anymore. Keep crying about landlords, soon there won’t be any….replaced by corporate lords who will be backed by big govt.

    I really am tempted to sell and gtfo.

  101. Hold my beer says:

    Pumps

    If you sell, what would you do with the money? Roll it into a commercial property to avoid capital gains taxes? Fill up your kids 529? I think you and your wife combined can put 175k or 180k as a lump sum and fill out a gift form that you and your wife put it in equally and amortize the gift over 5 years to avoid getting hit with gift taxes.

    Have a plan on what to do with the proceeds before you list the rental.

  102. Hold my beer says:

    3b

    I’ve joked about voting for myself or Joe Rogan on a write in.

  103. 3b says:

    Hold: Vote for yourself instead of that Rogan guy.

  104. Chicago says:

    LAX: Your stock options just exploded after hours.

Comments are closed.