A report from Reuters. "The Federal Reserve has issued a slew of private warnings to…
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The 9 minute video at the top:
Housing Crash Just Started in Nashville | Housing Market Update July 9, 2022
Jul 9, 2022 This video is an analytical approach to the Nashville Tn Housing Market. We are seeing Median Sales Price fall rapidly in the heart of Nashville.
The 10 minute second video:
House Prices Crashing in Vancouver’s Suburbs
Jul 9, 2022 Fraser Valley home sales fell to a 20 year low in the month of June. It’s a pretty staggering stat when you consider how much the housing stock has grown over the past several decades. Prices are adjusting quickly off their bubble highs in February. Vancouver Real Estate activity should continue to slow into the summer.
The 3rd 6 minute video:
The Orlando HOUSING MARKET SHIFT is happening! Orlando housing market update 2022
Jul 9, 2022 The Orlando HOUSING MARKET SHIFT is happening! Orlando housing market update 2022
In this video I will discuss the current Orlando housing market shift that is happening. The housing market shift may not be as severe as it is in other parts of this country but Orlando is starting to see a housing market shift of its own. Orlando homes are sitting on the market for longer periods of time and there are more and more housing price decreases on the market.
The 4th 21 minute video:
Where Did All The Buyers Go?
Premiered 19 hours ago Home sales dropped 35% from this time last year in the Vancouver area, and a full 43% in the Fraser Valley. Toronto saw a similar decrease at 41%. This is the third consecutive month of declines where the sales sit at 23% below the 10 year average. The landscape is now vastly different than it was 3 months ago when buyers lined up to compete for the same home. Now, homes are sitting, prices are dropping, properties can be negotiated, and yet, buyers aren’t interested. Of course the rising rates have been the largest contributing factor, but oddly, all the cries for more homes and less competition have been heard, and the buyers are gone.
The few houses in my nabe that had for sale signs pop up in the past month or so are just sitting.
According to the burg’s movoto page the rush to the exits hasn’t begun, as the number of listings hasn’t gone up in the past few weeks, though I expect that will change.
Lumber prices—which warned us about inflation over a year ago—are again trying to tell us something
‘The first bursting “lumber bubble” occurred last summer—when prices fell 47% in June alone. However, by late last year, lumber prices once again spiking. Homebuilders were looking to secure supply for what looked like a strong 2022 building season. Between August 2021 and January 2022, prices shot up from around $400 to over $1,400. But that lumber bubble 2.0 also popped. That bursting bubble was unlike the one that that occurred in 2021. This time, traders were offloading lumber futures based on fears that spiked interest rates would put downward pressure on housing demand.’
‘In Toronto, a buyer earning the annual median household salary of $87,847 would now need 336.6 months – about 28 years – to save the average down payment. In 2012 it was just 47 months; 31 months in 2002; and 65 in 1992.’
‘Similarly, in Vancouver, it would now take the average household 30 years to save for a down payment. Until recently, Vancouver was the most expensive city in Canada, requiring 67 months of saving in 2012, 36 in 2002 and 77 in 1992.’
‘These large increases are largely a result of minimum down payment requirements set by the Canada Mortgage and Housing Corporation. According to CMHC rules, mortgages on houses costing more than $1-million cannot be insured, so buyers are required to put a down payment of 20 per cent – a minimum of $200,000 – whereas all home purchases previously required a down payment of just 5 per cent. In the past few years, the average house price in many major markets has crossed that million-dollar threshold.’
‘The 5-per-cent minimum still applies to houses costing less than $500,000, which are almost unheard of in Toronto and Vancouver but can still be found in cities such as Calgary, where the average home price is just over $460,000. In such a case, the average down payment is just $23,100, requiring 31 months – about 2½ years – of saving, assuming a median income of $89,000. That number has remained relatively constant for the past 30 years.’
So basically in order to get a downpayment within 10 years, 1) you would need to be a very high earner (stock options from high-tech or pharma research), 2) you will need to get parental help.
Are western governments looking at the riots in Sri Lanka? At some point, people will not take an unfair system.
‘In Toronto, a buyer earning the annual median household salary of $87,847 would now need 336.6 months – about 28 years – to save the average down payment. In 2012 it was just 47 months; 31 months in 2002; and 65 in 1992.’
‘Trueup, a tech recruitment platform that tracks layoffs, claims that over 117 unicorns have announced layoffs since the start of 2022. Of that cohort, the sector with the most layoffs is fintech, followed by crypto and real estate.’
‘Notable fintech layoffs in the recent weeks include Amount, which cut 18% of staff after landing a $1 billion valuation just one year prior, MainStreet, which cut 30% of staff weeks before pursuing a potential recapitalization, On Deck, which cut 25% and scaled back its accelerator program and Klarna, which cut 10% of its workforce before seeking funding at a lower valuation.’
‘Layoffs aren’t foreign in the crypto world, either, as Coinbase and Gemini also laid off tech employees in response to the market.’
‘As my colleague Mary Ann Azevedo reports, fintech’s recent fall comes in stark contrast to its busy 2021. It’s not entirely surprising that the same sector that saw massive venture capital gains is also conducting layoffs. Growth at all costs, we’re hearing from investors, comes at its own cost — especially if there’s a sudden pressure to shift to profitability and focus.’
A Lot of People Just Now Discovered That Woody Harrelson’s Dad Was a Convicted Hitman
BY JEREMY DICK
PUBLISHED JUN 03, 2021
Some of Woody Harrelson’s younger fans are learning for the first time that the actor’s dad was a convicted hitman imprisoned for killing a federal judge.
FWIW, it isn’t Harrelson’s fault his father was a hitman.
That said, I’ve long thought that Harrelson is a major creep in his own slimy way. So, maybe the apple doesn’t fall far the tree.
“FWIW, it isn’t Harrelson’s fault his father was a hitman.”
Agreed.
OTOH, Woody did a good job feeling-up Elisabeth Shue in that Florida piece (name escapes me). I always wondered how many takes the director called for to get it right? But I’ll admit that Woody does have a sort of scammer look about him.
The 9 minute video at the top:
Housing Crash Just Started in Nashville | Housing Market Update July 9, 2022
Jul 9, 2022 This video is an analytical approach to the Nashville Tn Housing Market. We are seeing Median Sales Price fall rapidly in the heart of Nashville.
The 10 minute second video:
House Prices Crashing in Vancouver’s Suburbs
Jul 9, 2022 Fraser Valley home sales fell to a 20 year low in the month of June. It’s a pretty staggering stat when you consider how much the housing stock has grown over the past several decades. Prices are adjusting quickly off their bubble highs in February. Vancouver Real Estate activity should continue to slow into the summer.
The 3rd 6 minute video:
The Orlando HOUSING MARKET SHIFT is happening! Orlando housing market update 2022
Jul 9, 2022 The Orlando HOUSING MARKET SHIFT is happening! Orlando housing market update 2022
In this video I will discuss the current Orlando housing market shift that is happening. The housing market shift may not be as severe as it is in other parts of this country but Orlando is starting to see a housing market shift of its own. Orlando homes are sitting on the market for longer periods of time and there are more and more housing price decreases on the market.
The 4th 21 minute video:
Where Did All The Buyers Go?
Premiered 19 hours ago Home sales dropped 35% from this time last year in the Vancouver area, and a full 43% in the Fraser Valley. Toronto saw a similar decrease at 41%. This is the third consecutive month of declines where the sales sit at 23% below the 10 year average. The landscape is now vastly different than it was 3 months ago when buyers lined up to compete for the same home. Now, homes are sitting, prices are dropping, properties can be negotiated, and yet, buyers aren’t interested. Of course the rising rates have been the largest contributing factor, but oddly, all the cries for more homes and less competition have been heard, and the buyers are gone.
The few houses in my nabe that had for sale signs pop up in the past month or so are just sitting.
According to the burg’s movoto page the rush to the exits hasn’t begun, as the number of listings hasn’t gone up in the past few weeks, though I expect that will change.
Lumber prices—which warned us about inflation over a year ago—are again trying to tell us something
‘The first bursting “lumber bubble” occurred last summer—when prices fell 47% in June alone. However, by late last year, lumber prices once again spiking. Homebuilders were looking to secure supply for what looked like a strong 2022 building season. Between August 2021 and January 2022, prices shot up from around $400 to over $1,400. But that lumber bubble 2.0 also popped. That bursting bubble was unlike the one that that occurred in 2021. This time, traders were offloading lumber futures based on fears that spiked interest rates would put downward pressure on housing demand.’
https://finance.yahoo.com/news/lumber-prices-warned-us-inflation-110000412.html
‘In Toronto, a buyer earning the annual median household salary of $87,847 would now need 336.6 months – about 28 years – to save the average down payment. In 2012 it was just 47 months; 31 months in 2002; and 65 in 1992.’
‘Similarly, in Vancouver, it would now take the average household 30 years to save for a down payment. Until recently, Vancouver was the most expensive city in Canada, requiring 67 months of saving in 2012, 36 in 2002 and 77 in 1992.’
‘These large increases are largely a result of minimum down payment requirements set by the Canada Mortgage and Housing Corporation. According to CMHC rules, mortgages on houses costing more than $1-million cannot be insured, so buyers are required to put a down payment of 20 per cent – a minimum of $200,000 – whereas all home purchases previously required a down payment of just 5 per cent. In the past few years, the average house price in many major markets has crossed that million-dollar threshold.’
‘The 5-per-cent minimum still applies to houses costing less than $500,000, which are almost unheard of in Toronto and Vancouver but can still be found in cities such as Calgary, where the average home price is just over $460,000. In such a case, the average down payment is just $23,100, requiring 31 months – about 2½ years – of saving, assuming a median income of $89,000. That number has remained relatively constant for the past 30 years.’
https://www.theglobeandmail.com/business/article-saving-down-payment-real-estate/
So basically in order to get a downpayment within 10 years, 1) you would need to be a very high earner (stock options from high-tech or pharma research), 2) you will need to get parental help.
Are western governments looking at the riots in Sri Lanka? At some point, people will not take an unfair system.
‘In Toronto, a buyer earning the annual median household salary of $87,847 would now need 336.6 months – about 28 years – to save the average down payment. In 2012 it was just 47 months; 31 months in 2002; and 65 in 1992.’
‘Trueup, a tech recruitment platform that tracks layoffs, claims that over 117 unicorns have announced layoffs since the start of 2022. Of that cohort, the sector with the most layoffs is fintech, followed by crypto and real estate.’
‘Notable fintech layoffs in the recent weeks include Amount, which cut 18% of staff after landing a $1 billion valuation just one year prior, MainStreet, which cut 30% of staff weeks before pursuing a potential recapitalization, On Deck, which cut 25% and scaled back its accelerator program and Klarna, which cut 10% of its workforce before seeking funding at a lower valuation.’
‘Layoffs aren’t foreign in the crypto world, either, as Coinbase and Gemini also laid off tech employees in response to the market.’
‘As my colleague Mary Ann Azevedo reports, fintech’s recent fall comes in stark contrast to its busy 2021. It’s not entirely surprising that the same sector that saw massive venture capital gains is also conducting layoffs. Growth at all costs, we’re hearing from investors, comes at its own cost — especially if there’s a sudden pressure to shift to profitability and focus.’
https://news.yahoo.com/data-shows-hit-hardest-great-181016093.html
No wonder Diane left Cheers.
I count myself among these people.
A Lot of People Just Now Discovered That Woody Harrelson’s Dad Was a Convicted Hitman
BY JEREMY DICK
PUBLISHED JUN 03, 2021
Some of Woody Harrelson’s younger fans are learning for the first time that the actor’s dad was a convicted hitman imprisoned for killing a federal judge.
https://movieweb.com/woody-harrelson-dad-convicted-hitman-killer-internet-reaction/
FWIW, it isn’t Harrelson’s fault his father was a hitman.
That said, I’ve long thought that Harrelson is a major creep in his own slimy way. So, maybe the apple doesn’t fall far the tree.
“FWIW, it isn’t Harrelson’s fault his father was a hitman.”
Agreed.
OTOH, Woody did a good job feeling-up Elisabeth Shue in that Florida piece (name escapes me). I always wondered how many takes the director called for to get it right? But I’ll admit that Woody does have a sort of scammer look about him.
the director
Probably got that and more on the casting couch.
Those poor ladies.
Here’s a split tail bird that actually flies!
https://www.tiktok.com/@planegirl/video/6972969618281417990
Canaan, CT Housing Prices Crater 29% YOY As Double Digit Price Declines Expand Across New England And Mid-Atlantic States
https://www.movoto.com/canaan-ct/market-trends/
As one national broker commented, “Sellers are stamping their feet in a fit of rage over price declines…… and it’s hilarious.”