A report from Market Watch. "For the past several months, wealthy buyers in search of safety and personal space have flocked to vacation and single-family home markets across the country, leaving some new condo developments out in the cold. But rather than offering overt discounts, many developers are bridging the gap with unusually dramatic concessions. 'If the sellers don’t concede, there’s just no deal, for the most part,' added New York-based Compass agent Rachel Glazer."

"While this phenomenon appears to be more pronounced in New York City, which faced an excess of new development inventory and sluggish sales even prior to the pandemic, high rises in other cities aren’t exempt. 'The condo market has really slowed up. People don’t want to live in multifamily dwellings,' said Jill Epstein, an agent with Nourmand & Associates in Beverly Hills, California. 'We just closed on a higher-end condo last week and the concession that was offered was some customization [to the apartment] and a bit more flexibility in price. In general I haven’t seen prices go down yet, but when the market adjusts, condos are the first to get hurt and the last to recover.'"

"'In new developments, we were already seeing around a 7% typical discount [prior to the pandemic], and now it’s probably more like 15% with everything thrown in,' said Seth Levin, a broker with Keller Williams New York City. He added, 'There’s nuance, but it’s straightforward—developers are hurting right now. But they want to protect their prices, and are willing to get creative.'"

From The E'ville Eye in California. "The contentious Onni Tower project that would be the East Bay’s tallest high-rise is apparently no more. Planning & Building Director Charlie Bryant made the announcement at Thursday’s Planning Commission meeting noting that the project had 'fallen out of contract' and the application was 'deemed withdrawn.'"

The Orange County Register in California. "Alicia Kneifl had just started a new life in a new city with a new job. She and her husband sold their house in Lancaster, put their goods and their boat in storage, and rented an 11th-story Long Beach apartment with city and ocean views. Then the coronavirus shutdowns came, and the Kneifls rapidly lost everything — first their jobs, then their savings."

"They paid less than half their rent through June and couldn’t pay any in July. Adding to their hardship, Kneifl’s unemployment check will drop to $198 next week unless Congress extends the $600 weekly unemployment supplement approved under the CARES Act. 'You can’t really survive on that. That’s nothing,' Kneifl said during a phone interview, starting to sob. 'All day long, I’m researching. Mornings, I’m applying for jobs, afternoons I’m trying to find resources, like food stamps. … It’s definitely a scary situation.'"

"A U.S. Census Bureau survey found that 22% of Southern California tenants said they failed to pay their June rent on time. Thirty-seven percent said they have little to no confidence they’ll be able to make their next payment on time. 'Missed rent payments could become more common if Congress doesn’t take steps to provide financial assistance for those who have lost jobs,' said Greg Willett, chief economist for RealPage."

"Southern California landlords also are getting hit as vacancies rise and rent hikes shrink. 'Without a doubt, we’re seeing an increase in vacancies, and rents are decreasing,' said Fred Sutton, the California Apartment Association’s L.A. spokesman."

"Susan Taylor of Newport Beach, laid off from her job as a real estate appraiser, hasn’t seen a dime of unemployment benefits, nor has she gotten the $1,200 stimulus payment from the CARES Act. 'I’m hoping that (assistance) will come through,' she said. 'Now would be a good time.' Taylor has only paid 40% of her rent since March. She’s negotiated with her utilities to work out a payment plan. Her only expenses are food and medicine. 'Beyond cost-cutting on food, utilities and all non-essentials, I’ve put off getting glasses, dental work, non-urgent medical appointments (and) haircuts to keep a roof over my head,' she said."

From Salem News in Massachusetts. "You could practically hear the collective exhale last week when Gov. Charlie Baker said the state would stretch out an emergency ban on foreclosures and evictions. People can stay in their homes at least another 60 days past the ban’s original expiration, was the gist, even if they’re out of work and struggling to pay the bills. The rush of relief, however, goes just so far. Putting off foreclosure does not pay the mortgage. Delaying eviction does not catch up a tenant’s overdue rent. Homeowners and renters are still on the hook."

"In the first couple months of the COVID-19 shutdown, nearly one-third of the state’s renters told MassINC pollsters they’d fallen behind on their rent, CommonWealth magazine reported. Only 1 in 5 of those said it was 'very likely' they could catch up on their payments by the end of the moratorium. Doubtless those numbers swelled over the summer."

"Protection comes with a cost, and the landlords are paying. So much that they’re suing the state in federal court to block the eviction ban. They argue it violates their Fifth Amendments right by taking their property without compensation and blocks their due process rights to seek relief in court."

The Youngstown Vindicator in Ohio. "For home buyers, a new illness is taking over that, though it is preventable, seems to infect everyone who purchases a home at some point in their lives. Don’t worry, this virus does not impact your physical health, but directly impacts your mindset as a home buyer. Of course, I’m talking about buyer’s remorse."

"The ink isn’t dry on the closing papers and thoughts begin to creep into your mind: Did I make the right decision? Should we have done this? Can we afford this? Did I get the best price? Is there a better home out there for us? All of these questions are symptoms of buyer’s remorse."

"While many pop a bottle of bubbly or nice wine to celebrate the new property, some aren’t as enthusiastic about your purchase. We all know people who can take the fun and excitement out of the happiest moments in our lives. Should you encounter people who have strong opinions about your new purchase, don’t listen to them. Whether it is the crown molding, the final sale price of the home, the location or the color of the walls, keep those voices out of your head. Surround yourself with people who reinforce your decision to purchase your new home and make you feel as special as your new home is to you."

"Buyer’s remorse is a common diagnosis for new home buyers. The process of buying a home is long and arduous. After buying your dream home, you can easily become susceptible to second thoughts about your decision. Pay attention to your symptoms and realize that this is all normal. Most importantly, it is curable by simply looking at the hard work you put into this decision and admiring what you have been able to accomplish in testing positive for a different type of label you now carry: a homeowner. Patrick Burgan is the 2020 president of the Youngstown Columbiana Association of Realtors."