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Prices of Homes In US Cities 80% Grow Twice As Fast As Wages

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(Via Zerohedge)

According to the latest BLS data, average hourly wages for all US workers in November rose at a stubbornly low 2.5% relative to the previous year, well below the Fed’s “target” of 3.5-4.5%, as countless economists are unable to explain how 4.1% unemployment, and “no slack” in the economy fails to boost wage growth. Another problem with tepid wage growth, in addition to crush the Fed’s credibility, is that it keeps a lid on how much general price levels can rise by. With record debt, it has been the Fed’s imperative to boost inflation at any cost (or rather at a cost of $4.5 trillion) to inflate away the debt overhang, however weak wages have made this impossible.

Well, not really. Because a quick look at US housing shows that while wages may be growing at roughly 2.5%, according to the latest Case Shiller data, every single metro area in the US saw home prices grow at a higher rate, while 16 of 20 major U.S. cities experienced home price growth of 5% or higher: double the average wage growth, and something which even the NAR has been complaining about with its chief economist Larry Yun warning that as the disconnect between prices and wages become wider, homes become increasingly unaffordable.

And while this should not come as a surprise – considering we have pointed it out on numerous occasions in the past – one look at the chart below suggests that something strange is taking place in Seattle, which has either become “Vancouver South” when it comes to Chinese hot money laundering, or there is an unprecedented mini housing bubble in the hipster capital of the world. Also worth keeping an eye on: price appreciation in Sin City has quietly surged in recent months, and in September home prices surged 10.2% Y/Y, the only other double digit price increase in the US after Seattle. Considering that Las Vegas was the epicenter of the last housing bubble when prices exploded higher only to crash, it may be a good idea to keep a close eye on price tendencies in this metro area.

Confirming the recent jump in home prices, at the national level in Octoner home prices for the Top 20 metro areas rose 6.4% YoY according to Case Shiller, the fastest rate since June 2014. As Bloomberg adds, “a lingering shortage of previously owned homes is keeping housing prices elevated. That’s allowed homeowners to recover the equity lost during the housing collapse and recession a decade ago.”

“Home prices continue their climb supported by low inventories and increasing sales,” David Blitzer, chairman of the S&P index committee, said in a statement. But that climb may be interrupted by the Federal Reserve hiking interest rates next year, he said. “Since home prices are rising faster than wages, salaries, and inflation, some areas could see potential homebuyers compelled to look at renting.”

Meamwhile, for those looking to buy for the first time, conditions are less favorable. Growth in property values is outpacing wage gains and limiting affordability, representing a headwind for the market.

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Politics

Lauren Witzke: Among Several Children on Hunter Biden Laptop, Including Chris Coon’s Daughter

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Well, folks. The dam is finally breaking on what is exactly going on with the Hunter Biden laptop scandal that the corporate media has refused to cover, simultaneously big tech is clamping down attempts to use their platform to share the story. And now we know why, because it involves underage children.

This weekend, Senatorial Candidate in Delaware and America First Patriot, Lauren Witzke, has exposed the most damning allegation yet. With an official police source confirming that Chris Coon’s Daughter is one of several children on the Hunter Biden laptop.

There are other allegations going around possible connections to foreign children being on the Hunter Biden laptop as well as several children of other politicians including one of Barack Obama’s daughter.

This only further proves Joe Biden and his entire family, and Chris Coons, are completely compromised by foreign entities and domestic deep state actors within our Government. They hold no allegiance to anything but what their masters tell them to do, because at the end of the day they are at the whims of others leaking this information and publicly destroying them and their career.

We can only imagine more damning allegations are coming to break now that we have a first look at just how explosive the “Laptop From Hell”, as President Donald Trump puts it, really is.

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Politics

Pitiful GOP Governor Larry Hogan Attempts to Sabotage Pro-Trump Republican Kimberly Klacik’s Election on April 28th

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Baltimore, MD – Weeks ago, Maryland Governor Larry Hogan issued an Executive order requiring mail-in voting for the special election to fill Congressman Elijah Cummings vacant U.S. House seat on April 28th. As if voting by mail isn’t already a potential disaster for fraud waiting to happen, Larry Hogan essentially guaranteed fraud will happen to a rather large scale with this order, as pro-Trump candidate Kimberly Klacik explains in this tweet. 

 

Over 7,000 votes were already mailed in yesterday, when Governor Hogan modified his order to allow one polling station in each of District 7’s counties, which will allow people to vote twice. Historically, voter fraud is not favorable to Republican candidates. In the following Board of Elections meeting, the board members mention several times that this change was by Governor Hogan’s order, essentially making their vote a mere formality. 

 

https://elections.maryland.gov/about/board.html

 

Larry Hogan, although a Republican, is wildly popular in the predominantly liberal state of Maryland, touting a 70% approval rating. Maryland Liberals naturally love Larry’s consistent criticism of President Donald Trump. He was a vocal critic when the President told “The Squad” that if they don’t like America, they can go back. In early March, Governor Hogan stated that he was not satisfied with President Trump’s communication regarding the COVID-19 pandemic. More recently he stated that he is still not satisfied with the administration’s response. Other Governors, including Democratic ones have publicly praised Trump’s administration, including Governor Gavin Newsome of California. 

 

What could be motivating the Governor to sabotage this race in favor of a Democrat? It could be that he just hates the President that much, and any candidate willing to support him is no friend of his. What is intriguing about this, is that last summer it was Kimberly Klacik who tweeted about rats in Baltimore City, which prompted President Trump to tweet about the disgusting state of Baltimore. Despite the truthfulness of those tweets, Larry Hogan called them “Outrageous and inappropriate.” Elijah Cummings has since passed away, leaving his U.S. House seat vacant. Kimberly Klacik is running for that vacant seat. 

 

Many observers outside the state of Maryland would describe Larry Hogan as RINO, a Republican in name only. The truth is he is the typical pre-Trump Republican that cares mostly about corporate profit, low taxes, and GDP with little regard to putting Americans First. Despite all of his anti Trump whining, that didn’t stop him from begging for more H1B visa allotments for crab pickers. 

 

Other Democrats across the country have also been promoting the vote by mail fraud scheme, including Delaware Senator Chris Coons and Massachusetts Senator Elizabeth Warren. 

 

When asked for further comment, Kimberly Klacik stated that she is, “pursuing legal action.” 

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Media

Twitter Profile With No Tweets Or Followers Suspended

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New England – A Twitter page for a group called New England Identitarians was temporarily suspended evidently for using the word “Identitarian”. The page had zero followers at the time, and was yet to even make a tweet. In fact, the page was set to private. 

 

Regardless of what you might think of “Identitarian” ideology, most people can agree that the word itself shouldn’t trigger a ban from the public square, which is what social media companies such as Facebook and Twitter are functioning as. The First Amendment was intended to protect the public from government censorship, but in the current day the main medium for public discourse is social media. Practically speaking, there is no difference. It must be lawfully determined if these companies are neutral platforms, or if they function as publishers with editorial judgement. 

 

The same goes for the popular video platform YouTube as well. Formerly known as a free speech medium, it’s now only friendly for what are deemed acceptable opinions. Across all of these sites, “hate speech” is broadly used as an excuse to censor political views that the company doesn’t like, with a strong partisan bias against conservatives. Other free speech friendly social media networks to try are Telegram, Gab, and Parlor. An up-and-coming alternative to YouTube is BitChute.  For livestreaming, there’s D’Live. Perhaps it’s time that we all begin to migrate away from the tyrannical mainstream sites. 

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