A report from Curbed on Texas. "Candy Evans, a Dallas real estate writer who runs…
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Video:
‘This brings the average rate of a 30-year fixed mortgage to 6.28%. Trent Cady, Realtor with the ‘Mike Cady’ Realty Group, joined KUSI’s Hunter Sowards on “Good Evening San Diego” to talk more about the state of the current market.’
First piece of advice to buyers: educate yourself about ARMs. I stopped listening.
‘Over the last week — as Bitcoin fell through $23,000, then $22,000, then $21,000 — Yahoo Finance Live has spoken with several investors about buying at these lower prices, and none of them said now was the time to buy.’
“Unfortunately, at these levels I’m not a buyer,” Marc LoPresti, managing director at The Strategic Funds, told Yahoo Finance Live (video above). “In the crypto fund that I advise, we’ve been in 80 percent cash for a while now, just because of these choppy waters.”
‘The Bitcoin-futures-based Valkyrie Bitcoin Strategy ETF is down more than 50 percent this year, about in line with returns of the underlying currency. Valkyrie CEO Leah Wald, who also holds crypto personally, said she’s not optimistic in the short term.’
“It’s historically true that we have weathered these types of storms, but we are firmly in a bear market now — it never feels good,” she said. On a “short time horizon, I’m very nervous about these markets and I think we’re in for a lot of pain, for the next few months for sure, potentially longer.”
‘Apple Inc.’s run as a $3 trillion stock proved fleeting. Now its grip on a $2 trillion market value is looking wobbly, too. After briefly surpassing $3 trillion in January, the iPhone maker has lost more than $800 billion in capitalization as tech stocks plunged. With concern growing that the Federal Reserve’s interest-rate increases could tip the US into recession, the $2 trillion milestone is looking precarious. Apple closed Tuesday at $2.15 trillion.’
“In the same way that Apple benefited from the Fed-fueled bull market, it will suffer as the low interest rate and quantitative easing subsidies fade,” said David Trainer, chief executive officer at investment research firm New Constructs.’
You will own nothing, save nothing, see nothing, and scavenge for edible bugs (up to your daily allowed quota as determined by your neighborhood collective)
The use of lights and energy-intensive appliances will be reserved for the elites and their Quislings.
Imagine all of the expense and physical work moving for a new job and then getting a pink slip within six months? Half of your stuff is probably still in boxes.
As one distinguished economist accurately stated, “Selling, appraising and financing houses are bubble jobs. It’s a shame they existed from the get-go.”
He’s right.
Las Vegas, NV Housing Prices Crater 29% YOY As Desperate Sellers Send Inventory Soaring And Prices Plunging Across Southwest States
On Wednesday, the Real Estate Institute of New Zealand (REINZ) released its May price results, which reported that median prices nationally tanked by 4.0%, taking cumulative losses since November 2021 to 9.2%.
In a similar vein, the Trade Me Property Price Index for May also recorded the steepest monthly decline on record, with national average prices falling 2%:
UK FBs boarding the bullet train to Schlongville.
Millions face mortgage misery: HSBC, Barclays, First Direct and Virgin Money hit homeowners with rates rise within HOURS of Bank of England’s hike to 1.25% – and some face paying DOUBLE the bank’s 0.25% increase
Millions of homeowners face mortgage misery after interest rates jumped for the fifth month in a row to a 13-year high of 1.25 per cent, which is this is the fastest that rates have risen over a six-month period since 1988.
Borrowers with variable-rate deals will see their bills soar by hundreds of pounds a year almost immediately.
Barclays, First Direct, HSBC and Virgin Money were among the first to reveal their variable – or tracker – rates would rise straight away. Santander is raising its rates from July and Nationwide from August.
Libtards reaping what they voted: Minneapolis edition
Crime spills into dozens of Minneapolis suburbs, sparking fear among residents
Minneapolis suburbanites say crime is ‘really out of control’
Stalinist show trials presided over by corrupt, malicious Democrat-Bolshevik political hacks will be the fate of all who challenge our globalist overlords and their fraudulently-installed Quisling regimes.
The unprecedented collaboration between the Justice Department and Congress to target political foes of the regime endangers the rights of hundreds of Trump-supporting Americans.
Best get to sawin’ and slashin’ like you mean it, greedheads.
Housing Market Update: Share of Homes with Price Drops Reaches New High as Mortgage Rates Top 2008 Levels
The highest share of sellers on record dropped their list price during the four weeks ending June 12 as mortgage rates shot up to levels not seen since 2008, dwindling the pool of home shoppers.
Still, homebuying has never been more expensive. The typical buyer with a 30-year fixed-rate mortgage is looking at a monthly payment of $2,514, up from $1,692 a year ago. But those who remain in the market may notice they face less competition from other buyers. Homes are more likely to sit on the market for a few weeks, compared to last year when they would go under contract within a week, and home prices are being bid up less often than they were earlier in the spring.
Color your money gone, crypto bagholders.
ANOTHER Crypto lender stops customers withdrawing their money: Hong Kong based Babel finance blames ‘unusual liquidity pressures’ amid fears Bitcoin crash has only just begun
As one Salt Lake City broker explained, “If you have a house you best get dumping it now if you expect to get anything at all for it.”
I started reading my Redfin “status change” email dailies…why? There’s lots of “back on market” listings to strike terror into the local markets.
“…Redfin “status change” email dailies…”
I also get the Redfin daily feed for my local area (92603,92604,92625) and have noticed the same, “back on market”
Also, a big uptick in “contingent” , “pending”, “price reduction” status. Some homes have been stuck in either of those 3 status changes for a really long time.
One status that has become almost extinct is “price increase”.. I think some realtors [out of desperation] post a phony price increase and then back it down to generate buzz.
Kind’a makes you wonder if the MLS system is being gamed.
Of course, we all know all Realtors are above board ethical and would never resort to such underhanded maneuvers.😁
post a phony price increase and then back it down to generate buzz
If would be buyers can’t qualify for a loan, it’s moot.
One status that has become almost extinct is “price increase”
I’ve noticed on the MLS that when a listing goes from a fixed price to a price range only the top of the range shows up on sites like Realtor.com. I’m sure realtors know this.
Example: 12759 Beeler Creek Trl, Poway, CA 92064
Date Event Price Price/Sq Ft Source
06/10/2022 Price Changed $1,599,000 $662 CRMLS
05/18/2022 Price Changed $1,725,000 $714 CRMLS
04/29/2022 Listed $1,699,000 $703 CRMLS
06/14/1979 Sold $145,000 $60 Public Record
Via the MLS, that price change on 5/18/2022 was to a range of $1,650,000 – $1,725,000.
As a renowned economist stated so eloquently, “Get rates back up into their long term historical range of 12% to 15% and most of these problems go away on their own.”
He’s right… and we’re well on our way.
San Diego, CA Housing Prices Crater 12% YOY As Inventory Soars Triple Digits
Rent vs. Buy for a personal residence isn’t as simple as comparing monthly payments. Time horizon, unexpected repairs/maintenance, property taxes, real estate commissions and most importantly anticipated capital loss on the purchase. Rent has no risk of capital loss. That’s worth something.
High rent sucks. Inflation sucks. However, those, who after the 08′ crash, chose to live a more minimalist lifestyle and live below their means are doing just fine. Renting a smaller, safer dwelling in a nicer neighborhood while waiting out the crash has it’s perks. If house prices drop enough, they’ll buy. If not, again, they’ll do just fine.
I can’t lie. It’s been refreshing perusing comment sections of various blogs and vlogs and not seeing those annoying, parroted “Buy Bitcoin!” posts from Crypto Shills.
Video:
‘This brings the average rate of a 30-year fixed mortgage to 6.28%. Trent Cady, Realtor with the ‘Mike Cady’ Realty Group, joined KUSI’s Hunter Sowards on “Good Evening San Diego” to talk more about the state of the current market.’
https://www.kusi.com/what-does-the-rising-rates-of-housing-mean-for-the-average-buyer/
“OK to offer less than ask.”
First piece of advice to buyers: educate yourself about ARMs. I stopped listening.
‘Over the last week — as Bitcoin fell through $23,000, then $22,000, then $21,000 — Yahoo Finance Live has spoken with several investors about buying at these lower prices, and none of them said now was the time to buy.’
“Unfortunately, at these levels I’m not a buyer,” Marc LoPresti, managing director at The Strategic Funds, told Yahoo Finance Live (video above). “In the crypto fund that I advise, we’ve been in 80 percent cash for a while now, just because of these choppy waters.”
‘The Bitcoin-futures-based Valkyrie Bitcoin Strategy ETF is down more than 50 percent this year, about in line with returns of the underlying currency. Valkyrie CEO Leah Wald, who also holds crypto personally, said she’s not optimistic in the short term.’
“It’s historically true that we have weathered these types of storms, but we are firmly in a bear market now — it never feels good,” she said. On a “short time horizon, I’m very nervous about these markets and I think we’re in for a lot of pain, for the next few months for sure, potentially longer.”
https://finance.yahoo.com/news/should-you-buy-the-bitcoin-crash-some-crypto-bulls-say-not-yet-100354857.html
‘Apple Inc.’s run as a $3 trillion stock proved fleeting. Now its grip on a $2 trillion market value is looking wobbly, too. After briefly surpassing $3 trillion in January, the iPhone maker has lost more than $800 billion in capitalization as tech stocks plunged. With concern growing that the Federal Reserve’s interest-rate increases could tip the US into recession, the $2 trillion milestone is looking precarious. Apple closed Tuesday at $2.15 trillion.’
“In the same way that Apple benefited from the Fed-fueled bull market, it will suffer as the low interest rate and quantitative easing subsidies fade,” said David Trainer, chief executive officer at investment research firm New Constructs.’
https://finance.yahoo.com/news/apple-2-trillion-market-valuation-101748450.html
You will own nothing.
Nothing.
You will own nothing, save nothing, see nothing, and scavenge for edible bugs (up to your daily allowed quota as determined by your neighborhood collective)
The use of lights and energy-intensive appliances will be reserved for the elites and their Quislings.
https://zububrothers.com/2022/06/17/australias-energy-crisis-worsens-as-govt-ask-people-to-keep-lights-off-to-avert-blackouts/
“You will own nothing”
They say you don’t know what you have until it’s gone, so I gave away everything to see what I had.
“It’s only after you’ve lost everything that you’re free to do anything.”
— Tyler Durden, FIGHT CLUB
https://www.yahoo.com/entertainment/wave-layoffs-sweeping-us-firms-212657264.html
I love that the URL is under ‘entertainment’ 😉
Are you not entertained?
https://www.youtube.com/watch?v=FI1ylg4GKv8
Good catch.
Imagine all of the expense and physical work moving for a new job and then getting a pink slip within six months? Half of your stuff is probably still in boxes.
As one distinguished economist accurately stated, “Selling, appraising and financing houses are bubble jobs. It’s a shame they existed from the get-go.”
He’s right.
Las Vegas, NV Housing Prices Crater 29% YOY As Desperate Sellers Send Inventory Soaring And Prices Plunging Across Southwest States
https://www.movoto.com/nv/89146/market-trends/
Most of those firms never turned a profit.
Oh dear….
New Zealand’s housing market suffers biggest price fall on record
https://www.macrobusiness.com.au/2022/06/new-zealands-housing-market-suffers-biggest-price-fall-on-record/
On Wednesday, the Real Estate Institute of New Zealand (REINZ) released its May price results, which reported that median prices nationally tanked by 4.0%, taking cumulative losses since November 2021 to 9.2%.
In a similar vein, the Trade Me Property Price Index for May also recorded the steepest monthly decline on record, with national average prices falling 2%:
UK FBs boarding the bullet train to Schlongville.
Millions face mortgage misery: HSBC, Barclays, First Direct and Virgin Money hit homeowners with rates rise within HOURS of Bank of England’s hike to 1.25% – and some face paying DOUBLE the bank’s 0.25% increase
https://www.dailymail.co.uk/news/article-10926433/Mortgages-HSBC-Barclays-Direct-Virgin-Money-hit-homeowners-rates-rise.html
Millions of homeowners face mortgage misery after interest rates jumped for the fifth month in a row to a 13-year high of 1.25 per cent, which is this is the fastest that rates have risen over a six-month period since 1988.
Borrowers with variable-rate deals will see their bills soar by hundreds of pounds a year almost immediately.
Barclays, First Direct, HSBC and Virgin Money were among the first to reveal their variable – or tracker – rates would rise straight away. Santander is raising its rates from July and Nationwide from August.
Libtards reaping what they voted: Minneapolis edition
Crime spills into dozens of Minneapolis suburbs, sparking fear among residents
https://www.foxnews.com/us/crime-spills-into-dozens-minneapolis-suburbs-sparking-fear-residents
Minneapolis suburbanites say crime is ‘really out of control’
Stalinist show trials presided over by corrupt, malicious Democrat-Bolshevik political hacks will be the fate of all who challenge our globalist overlords and their fraudulently-installed Quisling regimes.
Why Is Merrick Garland Smiling?
https://amgreatness.com/2022/06/16/why-is-merrick-garland-smiling/
The unprecedented collaboration between the Justice Department and Congress to target political foes of the regime endangers the rights of hundreds of Trump-supporting Americans.
Best get to sawin’ and slashin’ like you mean it, greedheads.
Housing Market Update: Share of Homes with Price Drops Reaches New High as Mortgage Rates Top 2008 Levels
https://www.redfin.com/news/housing-market-update-price-drops-hit-new-record/
The highest share of sellers on record dropped their list price during the four weeks ending June 12 as mortgage rates shot up to levels not seen since 2008, dwindling the pool of home shoppers.
Still, homebuying has never been more expensive. The typical buyer with a 30-year fixed-rate mortgage is looking at a monthly payment of $2,514, up from $1,692 a year ago. But those who remain in the market may notice they face less competition from other buyers. Homes are more likely to sit on the market for a few weeks, compared to last year when they would go under contract within a week, and home prices are being bid up less often than they were earlier in the spring.
Color your money gone, crypto bagholders.
ANOTHER Crypto lender stops customers withdrawing their money: Hong Kong based Babel finance blames ‘unusual liquidity pressures’ amid fears Bitcoin crash has only just begun
https://www.dailymail.co.uk/news/article-10927091/ANOTHER-Crypto-lender-stops-customers-withdrawing-money-citing-liquidity-pressures.html
A Hong-Kong based crypto-lender has suspended withdrawals amid a wide-scale downfall in the market.
Babel Finance said it is ‘facing unusual liquidity’ in a statement on its website.
Axtell, UT Housing Prices Crater 23% YOY As Utah Housing Market Careens Off A Cliff
https://www.movoto.com/axtell-ut/market-trends/
As one Salt Lake City broker explained, “If you have a house you best get dumping it now if you expect to get anything at all for it.”
I started reading my Redfin “status change” email dailies…why? There’s lots of “back on market” listings to strike terror into the local markets.
“…Redfin “status change” email dailies…”
I also get the Redfin daily feed for my local area (92603,92604,92625) and have noticed the same, “back on market”
Also, a big uptick in “contingent” , “pending”, “price reduction” status. Some homes have been stuck in either of those 3 status changes for a really long time.
One status that has become almost extinct is “price increase”.. I think some realtors [out of desperation] post a phony price increase and then back it down to generate buzz.
Kind’a makes you wonder if the MLS system is being gamed.
Of course, we all know all Realtors are above board ethical and would never resort to such underhanded maneuvers.😁
post a phony price increase and then back it down to generate buzz
If would be buyers can’t qualify for a loan, it’s moot.
One status that has become almost extinct is “price increase”
I’ve noticed on the MLS that when a listing goes from a fixed price to a price range only the top of the range shows up on sites like Realtor.com. I’m sure realtors know this.
Example: 12759 Beeler Creek Trl, Poway, CA 92064
Date Event Price Price/Sq Ft Source
06/10/2022 Price Changed $1,599,000 $662 CRMLS
05/18/2022 Price Changed $1,725,000 $714 CRMLS
04/29/2022 Listed $1,699,000 $703 CRMLS
06/14/1979 Sold $145,000 $60 Public Record
Via the MLS, that price change on 5/18/2022 was to a range of $1,650,000 – $1,725,000.
As a renowned economist stated so eloquently, “Get rates back up into their long term historical range of 12% to 15% and most of these problems go away on their own.”
He’s right… and we’re well on our way.
San Diego, CA Housing Prices Crater 12% YOY As Inventory Soars Triple Digits
https://www.movoto.com/ca/92110/market-trends/
Rent vs. Buy for a personal residence isn’t as simple as comparing monthly payments. Time horizon, unexpected repairs/maintenance, property taxes, real estate commissions and most importantly anticipated capital loss on the purchase. Rent has no risk of capital loss. That’s worth something.
High rent sucks. Inflation sucks. However, those, who after the 08′ crash, chose to live a more minimalist lifestyle and live below their means are doing just fine. Renting a smaller, safer dwelling in a nicer neighborhood while waiting out the crash has it’s perks. If house prices drop enough, they’ll buy. If not, again, they’ll do just fine.
I can’t lie. It’s been refreshing perusing comment sections of various blogs and vlogs and not seeing those annoying, parroted “Buy Bitcoin!” posts from Crypto Shills.
“Buy Bitcoin!” posts “
Buy Tulips? ( or maybe Pets.com stock?)