Still think TITNC3: Return of the Iceberg was peak

It's hyper local.

Some metros are seeing price decreases. In my area, literally the only thing moving is the bottom 25% of the pricing range. Rentals changing hands mostly.

Above that, no one is selling because they don't want to leave the 2.75% 30 yr they re-fi'd into last year for a 6.5% one this year. And no one is buying for the same reason.

The entire market locally has ground to a halt except cash buyers shuffling rentals around like Pokemon cards.

 

TYDE got a delist notice on the 5th. They've got 180 days to bring the price back above $1.

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001892492/000149315222028138/form8-k.htm

 

UK Pension funds are fire-sale selling Gilts to meet margin calls.

That's a completely new and scary concept, esp. if you're a UK'er expecting to receive pension payments.

 

Guess I’ll sell that turd then

 

Bank of England starting buying the high yield GILTS back today. Fucking nuts. They are using QE during an inflationary time. Wonder how far they can kick this can?

It's gonna cost them a fortune. One they'll have to print money to make. Not good.

 

And they're stopping Friday, lol.

Option A: Rescue the pensions and kill the Pound.
Option B: Kill the pensions and the Gilt bond market and ????? the Pound.

If Andrew Bailey hangs himself in his bathroom Thursday night I won't be remotely surprised.

 

Guess what else happens FRI? JPM, WFC, MS, and C all report earnings. Bad US bank earnings on top of the British GILT implosion could mean fireworks and not the fun kind.

 

Fun is the only kind of fireworks there are!

Getting to own the big bank asshats on the cheap is the definition of fun. Buy those shares on sale!

https://youtu.be/qRpTZrmtozo?t=179

 

Because they are inferior to the superior Apple airpods PRO
https://9to5google.com/2022/08/04/pixel-buds-pro-vs-airpods-pro/

 

https://finance.yahoo.com/quote/BNKD

 

“I will not play with triple leveraged crap @TreeFortRichard mentions” should be written on a note on my desk

 

WTF? BBIG DEC $5 call had 10K volume today. That's highly unusual. What's more insane is the OI is only 671. That's 14X the number of contracts traded. I had to check a few sites to make sure it wasn't an E-Tarde glitch but it's legit.

 

I got over-the-ear style for flights, I hated them other than blocking out the engine noise. I returned them after that. That was several years ago, I could be convinced to try another set of buds style.

Yeah - I get a weekly-ish email from my mortgage guy (it's automated) with my price. I check it time to time, last month was the first time it went down (not by a huge amount but still) since 2017.

That's where we're at! We were pretty gung-ho on moving to Austin pre-Rona stuff.

Now, Austin:

1. The housing is bananaland. A similar house to ours up here that's worth (now) about 350-400 (the thing above says a shade under 400, but chances are we would go for 365-375ish, assuming it doesn't go down further in the next couple weeks) - in Austin? 1 mil, MINIMUM. And they're being bought up by developers making those shoebox glass-wall houses all over the place, and selling them for 3 mil. Here's one for 2.45m.
   
   
   Spoiler

   
   
   Honestly. WTF. That's bananas. 30 year, 7.7% (random quick google says that's todays rate ), let's say 20% down is 500k (it's 490). 1.95m, 30 year, 7.7%.
2. Mortgage rates. Exactly like you just said. I am currently paying less than 10% of that above payment, on 2.625% for another 28 years (refid in Jan 2021). Is it warmer down there? Absolutely. It's also oppressively hot at times too. Anyway, here at least we're close to family. Why would we throw away 2.625%, where we're at is at least "southern" for the area, south of the rain snow line, and the cold is a lot less cold than further north (Maine, NH, etc).
3. Not gonna lie, homeless population is no bueno. I won't get into that at all since could border into political, but it's a big problem for the cities in Texas.
4. Randomly, Number 4 - we might both be up and gone for 6 months in 2024 for the Appalachian trail, so why move south for that, pay that premium for an empty place for 6 months.

GOOD MORNING!

 

HKD halted on an upswing. Get your day trading powder ready.

 

@TreeFortRichard imagine if we didnt sell PEGY