Back To 2021 Prices?

1. From the first 12 minute video:

   Mississauga Shows Historically Low Numbers In July. Detached Homes Down $374,000 since January.
   Honest real estate talk
   Aug 8, 2022 Mississauga real estate market continues on a sharp decline. Prices are down, number of sales are down. Get all the detailed stats here without any sales bias. See average prices, median prices, breakdown by price range, compare 2021 to July 2022. Mississauga condos are down 10% but not doing as badly as the detached homes.

   The second 12 minute video:

   ORLANDO
   House Hunting In Florida As The Housing Market Correction Has Begun! | Price Cuts Coming Fast!
   Aug 7, 2022 In today’s video, we toured 2 homes here in Central Florida that have had significant price drops over the last couple weeks. The market is changing and I hope you appreciate these weekly updates!

   The third 7 minute video:

   Back to 2021 Home Prices – Durham Region Real Estate Market
   Premiered Aug 7, 2022 The Canadian real estate market continues to change and that means a lot has changed for real estate in Oshawa & the rest of Durham Region as well.

   In this video, Jessie McLellan covers what changes we saw in Oshawa, Whitby, Ajax, Pickering & Clarington home prices, where you can find opportunity in this current real estate market, and what $1 million could buy you in February versus what $1 million can buy you today in Oshawa.

   The last 12 minute video:

   Burlington Detached Homes Down 22% This Year. Only 177 Homes Sold In July!
   Aug 8, 2022 Burlington real estate in July kept declining. Detached homes in Burlington are down almost $400,000 since the beginning of the year. Burlington condos also down but not as much as some of the other types of homes in Burlington.

2. U.S. Inventory Grew at Record Pace in July
   Mansion Global|11 hours ago
   The number of active listings was up 30.7% in July, the fastest pace on record and the third consecutive month of inventory recovery, the data showed. “The U.S. housing market continues to move toward more evenly balanced supply and demand compared to the 2021 frenzy,

3. ‘Americans piled on $40.1 billion worth of debt in June, the Federal Reserve said Friday afternoon. The figure was considerably higher than economists’ forecasts, after May’s revised total of $23.8 billion.’

   ‘Americans’ borrowing grew by 10.5% in June, compared to 6.3% in May, according to the Fed’s G.19 consumer credit report. Revolving debt — roughly a proxy for outstanding credit card balances — rose by 16% after an 7.8% increase in May.’

   ‘Non-revolving debt, which includes loans like car loans and student loans, grew by 8.8% after a 5.8% increase in May. These figures exclude mortgage balances, which represent most of the debt carried by households.’

   ‘On a quarter-to-quarter basis, Americans borrowed an additional $98.9 billion, the Fed said. Friday’s report comes on the heels of a separate release from the New York Fed that reported Americans’ non-housing-related debt ballooned by $103 billion in the second quarter, the largest increase since 2016.’

   https://wsvn.com/news/us-world/americans-loaded-up-on-40-billion-more-in-debt-in-june-fed-says/

4. ‘A housing correction which has already led to four consecutive months of price declines in the previously overheated Greater Toronto Area market could end up becoming “one of the deepest of the past half a century,” a new report from RBC warns.’

   https://www.cp24.com/news/housing-correction-could-end-up-becoming-one-of-the-deepest-of-the-past-half-a-century-rbc-warns-1.6018290

   1. No smooth landing for Canadian boomers et al.

      1. No smooth landing for Canadian boomers et al.
         Now, will they start selling their winter homes in AZ and FL in order to pay for their “main” homes?

5. ‘Earlier this summer, HousingWire lead analyst Logan Mohtashami told Fortune that higher mortgage rates would both slow down the housing market and “put builders on their ass.” As the housing cycle “turns over,” existing home inventory—which is builders’ true competition—will continue to rise. That will cause new-home sales and housing starts to fall, Mohtashami says.’

   ‘We’re already seeing it. On a year-over-year basis, sales of new single-family homes are down 17.4%, while single-family housing starts are down 15.7%. Simply put: Homebuilders have already been put “on their ass.”

   https://finance.yahoo.com/news/home-prices-falling-homebuilders-put-112531180.html

   Why that’s savagely unhealthy! – fooking clown. Wa happen to yer pom poms?

   1. I don’t care about these people putting everything they have into the housing casino, but the government should not play croupier with taxpayers on the hook.

6. ‘SoftBank Group Corp.’s Masayoshi Son said he plans widespread cost cutting at his Japanese conglomerate and its Vision Fund investment arm after a record $23.4 billion loss on plunging portfolio valuations and foreign currency losses. Shares dropped.’

   ‘The Tokyo-based company lost the vast majority of that money — $17.3 billion — in the Vision Fund, as it marked down the value of holdings such as Coupang Inc., SenseTime Group Ltd. and DoorDash Inc. SoftBank also reported a $6.1 billion foreign exchange loss because of the weaker yen.’

   ‘The 64-year-old struck a darkly somber tone after the results Monday, taking responsibility for buying into startups at the height of the market and pledging to slash expenses to get back on track. Son said he will review “everything” for potential cuts without any “sacred cows.” SoftBank will scrutinize senior and junior employees in both front and back offices to an extent never experienced before.’

   “The loss is the biggest in our corporate history and we take it very seriously,” Son said during a press conference in Tokyo. “We have to resort to big cost-cutting efforts at Vision Fund. The cost cutting efforts will have to include a reduction in head count – something I’ve made up my mind to do.”

   https://uk.finance.yahoo.com/news/softbank-ceo-pledges-sweeping-cost-104433434.html

   They’re renting f#$%ing desks!

7. Dawn is almost here; time to ride!

8. San Diego, CA Housing Prices Crater 19% YOY As The Fenders Flap And Wheels Fall Off San Diego Housing Market

   https://www.movoto.com/ca/92101/market-trends/

   As one San Diego broker explained, “People want out. That’s why everyone is slashing prices and begging for offers.”

9. Those Florida houses are still at least 100k over priced.

   1. Cheer up my good friend….. cheer up.

      Winter Park, FL Housing Prices Crater 14% YOY As As Hoardes Of Sellers Get Yanked Through A Knothole Backwards

      https://www.movoto.com/winter-park-fl/market-trends/

Comments are closed.