A report from the Sydney Morning Herald in Australia. "A small group of private certifiers…
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From the first 9 minute video:
Aug 14, 2022 Manufactured home prices have gone up a lot over the last two years but buyers might be happy to learn that they are on the way back down. Starting earlier this summer manufactured home prices have started to decrease which might be people who have been waiting on the side lines the buying opportunity they have been waiting for. In this video I talk about how much manufactured home prices have come down, the reasons given and where I think prices will go from here. Watch and learn about whats happening behind the scenes in the manufactured home industry.
The second 19:19 video:
August 2022 Santa Cruz Real Estate Update
Aug 14, 2022 #santacruz #realestate #capitola #aptos #scottsvalley #felton #bouldercreek #liveoak #soquel #watsonville
We’re on the brink of the fall market – one of the very best times to sell a home in Santa Cruz. But the market has undergone a significant change from earlier in the year, and the market is not as hot as it was in the spring. But how much cooler has it become? Have Santa Cruz home prices dropped, and if so, by how much? In this August 2022 Santa Cruz real estate market update, I take a deep dive into the latest data which shows the dramatic changes which have occurred in the market over the past several months.
Santa Cruz is a bedroom community for the south SF Bay Area, with very few family supporting jobs locally. Mold is a common feature of the older homes in the area, and traffic is beyond terrible during commuter hours. That said, some of the custom homes up in the hills are beautiful and peacefully quiet.
A law school classmate/friend grew up in a hippie commune in Santa Cruz.
Volatile mortgage rates make a volatile housing market in OKC
“Homes properly priced and presented are still seeing shorter DOM (days on market) with multiple offers,” Teehee said. “Sellers must price accordingly. … Builders are entering the price reduction game, out of panic, I presume, and will most likely be most impacted with most new construction in the $400,000 range.”
‘Some builders are offering incentives. Moore-based Home Creations, for example, is offering fencing, window blinds, lawn sprinkler systems, storm shelters and other features to certain homes through August.’
‘Builders pulled back on construction in July, starting 401 houses, down 27% compared with July, 2021, according to Norman-based Dharma Inc.’s Builder Report, which tracks metro-area construction.’
‘Look at what industry executives are telling pollsters from the National Association of Homebuilders. In March, Western builders were so optimistic that the NAHB’s regional confidence index was at a high that had never been reached before the pandemic began.’
‘By July, though, the same index had crashed to a low last seen during 2020’s coronavirus lockdown.’
As one desperate SoCal seller lamented, “I shouldn’t have ever bought this house. It’s riddled with defects…. and so is the mortgage contract.”
‘UBS analysts note that the stock market currently is consistent with core inflation returning to 1.5%-2%. If it ends up a percentage point higher, valuation adjustments imply a 25% drop in the S&P 500, they estimate.’
“Wishful thinking in markets only makes the job harder, by loosening financial conditions and requiring more monetary tightening to compensate,” Bill Dudley, former head of the New York Fed, warned in an opinion piece for Bloomberg News earlier in August.’
As a noted economist explained, “The number one cause of personal bankruptcy in the US is the 15 and 30 year mortgage.”
‘Washington, D.C., Mayor Muriel Bowser renewed her request for help from the U.S. military to deal with an influx of illegal immigrants being bused to the U.S. capital from the southern border.’
‘The District of Columbia National Guard was needed, she said, “to help prevent a prolonged humanitarian crisis in our nation’s capital resulting from the daily arrival of migrants in need of assistance.”
‘The Democratic mayor’s initial July request for National Guard assistance was rejected by Defense Secretary Lloyd Austin Aug. 5.’
‘Still maintaining Washington, D.C., as a “Sanctuary City,” she’s suggested the federal government use the D.C. Armory or other federal sites as “respite centers” for foreign nationals in the U.S. illegally and treat them like war refugees even though the majority aren’t fleeing from war and aren’t believed to have valid asylum claims.’
‘Blend Labs executives say they are being conservative in managing the company after recording a massive financial loss in the second quarter of 2022. The California-based mortgage tech company plans to reduce costs, including cutting 25% of its workforce, and will focus on products with a higher return on investment amid an extreme market downturn.’
“We’re operating the company prudently as if the mortgage industry origination volumes will remain at or near historic low levels through 2025,” Nima Ghamsari, Blend’s co-founder, said in an earnings call on Monday.’
‘In the face of a declining mortgage market and heightened regulatory scrutiny, Wells Fargo, the country’s largest depository mortgage lender by volume, is planning for a smaller footprint in correspondent lending and third-party servicing business.’
‘The depository bank will likely shrink or potentially halt correspondent lending, in which Wells Fargo funds the loan arranged by outsiders, Bloomberg reported, citing unnamed sources. The concern for Wells Fargo is that the bank would be responsible for any “reputational damage” when it finances large amounts of loans originated from other firms, Bloomberg said.’
‘The bank’s third-party servicing business is expected to downsize as well, including the servicing of Federal Housing Administration (FHA) loans, the report said.’
Blend Labs… The California-based mortgage tech company
Test tube mortgages.
‘Apple Inc. laid off many of its contract-based recruiters in the past week, part of a push to rein in the tech giant’s hiring and spending, according to people with knowledge of the matter.’
‘The recruiters were responsible for hiring new employees for Apple, and the cuts underscore that a slowdown is underway at the company.’
‘Workers laid off were told the cuts were made due to changes in Apple’s current business needs. Bloomberg first reported last month that the company was decelerating hiring after years of staffing up, joining many tech companies in hitting the brakes.’
Blend Labs executives … plans to reduce costs, including cutting 25% of its workforce,
The last company I worked for started using the Blend product and after all the trouble shooting and “fixing” on our end was done about 25 – 30% of my workload disappeared. About 2 months later I disappeared. So I do find some humor in these guys losing their job. We need efficiency and I understand why I was no longer needed, but I can’t help but laugh at the fact that I was laid off due to increasing the efficiency of the company (making more Money) and these guys were laid off for being inefficient and losing a $hitload of money for the company.
If I recall correctly, we paid Blend a set monthly fee for a minimum number of loans closed using their system, and than an incremental amount per loan on all loans over that limit. So as volume falls, all the “incremental” income they were used to, and counting on, disappears and magically, so does a lot of their jobs. I believe this is either the 2nd or 3rd round of cuts for Blend.
Every time Real Journalists get canned from globalist propaganda outlets, an angel gets its wings.
BBC staff ‘threaten to strike’ over merger of news channels which will see 70 jobs axed in the UK
Out of all the globalist minions, the Comrades of Proven Worth (D) in our NEA indoctrination mills have been most militant in promoting their masters’ anti-white hatred and marginalization. Therefore white libtard educators must be thrilled to let diversity trump all other considerations as they put their Democrat-Bolshevik principles into practice by accepting systemic economic disenfranchisement so their diversity hire colleagues can hasten the destruction of our public education system.
Minneapolis teachers union agreement stipulates White teachers be laid off first, regardless of seniority
The agreement, reached last spring, exempts teachers from ‘underrepresented’ populations from seniority-based layoffs
“Minneapolis teachers union agreement stipulates White teachers be laid off first, regardless of seniority.”
This kind of insanity is what you get when you mix together:
Intellectual laziness, narcissistic neuroticism (Virtue Signaling-based attacking feels so good, even if I’m attacking my own race) and a propensity for placing feelings over facts.
My ex Brother in law called me and brought up White Privilege. I laughed and said, “yeah, what a joke.” He said he was serious. I then proceeded to annihilate his weak arguments with hard facts he DID NOT LIKE. Haven’t heard from him since.
Virtue Signaling-based attacking feels so good, even if I’m attacking my own race
I wonder how long until these useful idiots go Jonestown and off themselves?
“Minneapolis teachers union agreement stipulates White teachers be laid off first, regardless of seniority.”
I forgot to say I’d pay to watch a nice long debate between Ben Shapiro and crazy-eyes AOC. Apparently, he’s offered to debate with her, but, unsurprisingly, she’s declined, under a lame assertion he was trying to “hit on her.” WTF? Everyone knows better. She’s declining because she knows she’s outmatched and would get clobbered.
Don’t fight the Fed my good friends…. Don’t fight the Fed.
Naples, FL Housing Prices Crater 21% YOY As Florida Emerges As The Epicenter Of Mortgage And Appraisal Fraud
China unexpectedly cuts key rates as economic data disappoints.
—Property investment, sales fall, home price decline deepens—
Key indicators slowed from June, missed forecasts
Youth unemployment touched record high in July
Property investment, sales fall, home price decline deepens
PBOC cuts key rates to revive credit demand
BEIJING/SHANGHAI, Aug 15 (Reuters) – China’s central bank cut key lending rates in a surprise move on Monday to revive demand as data showed the economy unexpectedly slowing in July, with factory and retail activity squeezed by Beijing’s zero-COVID policy and a property crisis.
The grim set of figures indicate the world’s second largest economy is struggling to shake off the June quarter’s hit to growth from strict COVID restrictions, prompting some economists to downgrade their projections.
From the first 9 minute video:
Aug 14, 2022 Manufactured home prices have gone up a lot over the last two years but buyers might be happy to learn that they are on the way back down. Starting earlier this summer manufactured home prices have started to decrease which might be people who have been waiting on the side lines the buying opportunity they have been waiting for. In this video I talk about how much manufactured home prices have come down, the reasons given and where I think prices will go from here. Watch and learn about whats happening behind the scenes in the manufactured home industry.
The second 19:19 video:
August 2022 Santa Cruz Real Estate Update
Aug 14, 2022 #santacruz #realestate #capitola #aptos #scottsvalley #felton #bouldercreek #liveoak #soquel #watsonville
We’re on the brink of the fall market – one of the very best times to sell a home in Santa Cruz. But the market has undergone a significant change from earlier in the year, and the market is not as hot as it was in the spring. But how much cooler has it become? Have Santa Cruz home prices dropped, and if so, by how much? In this August 2022 Santa Cruz real estate market update, I take a deep dive into the latest data which shows the dramatic changes which have occurred in the market over the past several months.
Santa Cruz is a bedroom community for the south SF Bay Area, with very few family supporting jobs locally. Mold is a common feature of the older homes in the area, and traffic is beyond terrible during commuter hours. That said, some of the custom homes up in the hills are beautiful and peacefully quiet.
A law school classmate/friend grew up in a hippie commune in Santa Cruz.
Volatile mortgage rates make a volatile housing market in OKC
“Homes properly priced and presented are still seeing shorter DOM (days on market) with multiple offers,” Teehee said. “Sellers must price accordingly. … Builders are entering the price reduction game, out of panic, I presume, and will most likely be most impacted with most new construction in the $400,000 range.”
‘Some builders are offering incentives. Moore-based Home Creations, for example, is offering fencing, window blinds, lawn sprinkler systems, storm shelters and other features to certain homes through August.’
‘Builders pulled back on construction in July, starting 401 houses, down 27% compared with July, 2021, according to Norman-based Dharma Inc.’s Builder Report, which tracks metro-area construction.’
https://www.oklahoman.com/story/business/real-estate/2022/08/15/rising-interest-rates-take-toll-on-home-sales-but-not-yet-on-prices-in-okc-oklahoma/65400137007/
‘Look at what industry executives are telling pollsters from the National Association of Homebuilders. In March, Western builders were so optimistic that the NAHB’s regional confidence index was at a high that had never been reached before the pandemic began.’
‘By July, though, the same index had crashed to a low last seen during 2020’s coronavirus lockdown.’
https://www.msn.com/en-us/money/realestate/california-housing-permits-at-2nd-highest-level-since-2007/ar-AA10GeVv
Toluca Lake, CA Housing Prices Crater 27% YOY As Embedded Mortgage Fraud Surfaces Across Southern California
https://www.movoto.com/toluca-lake-ca/market-trends/
As one desperate SoCal seller lamented, “I shouldn’t have ever bought this house. It’s riddled with defects…. and so is the mortgage contract.”
‘UBS analysts note that the stock market currently is consistent with core inflation returning to 1.5%-2%. If it ends up a percentage point higher, valuation adjustments imply a 25% drop in the S&P 500, they estimate.’
“Wishful thinking in markets only makes the job harder, by loosening financial conditions and requiring more monetary tightening to compensate,” Bill Dudley, former head of the New York Fed, warned in an opinion piece for Bloomberg News earlier in August.’
https://www.msn.com/en-ca/money/topstories/analysis-loosening-financial-conditions-threaten-central-bank-inflation-fight/ar-AA10HGvH
The stock market isn’t bothered by a cratering housing market: Morning Brief
“Higher interest rates have taken the air out of the pandemic housing boom,” Wells Fargo economists, led by Mark Vitner, wrote in a note on Monday.’
https://finance.yahoo.com/news/housing-market-stock-market-morning-brief-093003157.html
Monterey Park, CA Housing Prices Crater 21% YOY On Soaring Vacancies And Plunging Demand Across Southern California
https://www.movoto.com/monterey-park-ca/market-trends/
As a noted economist explained, “The number one cause of personal bankruptcy in the US is the 15 and 30 year mortgage.”
‘Washington, D.C., Mayor Muriel Bowser renewed her request for help from the U.S. military to deal with an influx of illegal immigrants being bused to the U.S. capital from the southern border.’
‘The District of Columbia National Guard was needed, she said, “to help prevent a prolonged humanitarian crisis in our nation’s capital resulting from the daily arrival of migrants in need of assistance.”
‘The Democratic mayor’s initial July request for National Guard assistance was rejected by Defense Secretary Lloyd Austin Aug. 5.’
‘Still maintaining Washington, D.C., as a “Sanctuary City,” she’s suggested the federal government use the D.C. Armory or other federal sites as “respite centers” for foreign nationals in the U.S. illegally and treat them like war refugees even though the majority aren’t fleeing from war and aren’t believed to have valid asylum claims.’
https://www.thecentersquare.com/issues/border/dc-mayor-again-asks-for-help-with-illegal-immigrants-after-pentagon-declines-first-request/article_e2a07bf8-1ce8-11ed-8fa9-53d918e03574.html
‘Blend Labs executives say they are being conservative in managing the company after recording a massive financial loss in the second quarter of 2022. The California-based mortgage tech company plans to reduce costs, including cutting 25% of its workforce, and will focus on products with a higher return on investment amid an extreme market downturn.’
“We’re operating the company prudently as if the mortgage industry origination volumes will remain at or near historic low levels through 2025,” Nima Ghamsari, Blend’s co-founder, said in an earnings call on Monday.’
https://www.housingwire.com/articles/blend-takes-a-478m-loss-cuts-25-of-its-workforce/
‘In the face of a declining mortgage market and heightened regulatory scrutiny, Wells Fargo, the country’s largest depository mortgage lender by volume, is planning for a smaller footprint in correspondent lending and third-party servicing business.’
‘The depository bank will likely shrink or potentially halt correspondent lending, in which Wells Fargo funds the loan arranged by outsiders, Bloomberg reported, citing unnamed sources. The concern for Wells Fargo is that the bank would be responsible for any “reputational damage” when it finances large amounts of loans originated from other firms, Bloomberg said.’
‘The bank’s third-party servicing business is expected to downsize as well, including the servicing of Federal Housing Administration (FHA) loans, the report said.’
https://www.housingwire.com/articles/wells-fargo-to-shutter-correspondent-lending/
Why that’s savagely unhealthy!
Blend Labs… The California-based mortgage tech company
Test tube mortgages.
‘Apple Inc. laid off many of its contract-based recruiters in the past week, part of a push to rein in the tech giant’s hiring and spending, according to people with knowledge of the matter.’
‘The recruiters were responsible for hiring new employees for Apple, and the cuts underscore that a slowdown is underway at the company.’
‘Workers laid off were told the cuts were made due to changes in Apple’s current business needs. Bloomberg first reported last month that the company was decelerating hiring after years of staffing up, joining many tech companies in hitting the brakes.’
https://finance.yahoo.com/news/apple-lays-off-recruiters-part-031146739.html
Blend Labs executives … plans to reduce costs, including cutting 25% of its workforce,
The last company I worked for started using the Blend product and after all the trouble shooting and “fixing” on our end was done about 25 – 30% of my workload disappeared. About 2 months later I disappeared. So I do find some humor in these guys losing their job. We need efficiency and I understand why I was no longer needed, but I can’t help but laugh at the fact that I was laid off due to increasing the efficiency of the company (making more Money) and these guys were laid off for being inefficient and losing a $hitload of money for the company.
If I recall correctly, we paid Blend a set monthly fee for a minimum number of loans closed using their system, and than an incremental amount per loan on all loans over that limit. So as volume falls, all the “incremental” income they were used to, and counting on, disappears and magically, so does a lot of their jobs. I believe this is either the 2nd or 3rd round of cuts for Blend.
Every time Real Journalists get canned from globalist propaganda outlets, an angel gets its wings.
BBC staff ‘threaten to strike’ over merger of news channels which will see 70 jobs axed in the UK
https://www.dailymail.co.uk/news/article-11115909/BBC-staff-threaten-strike-merger-news-channels-70-jobs-axed-UK.html
Out of all the globalist minions, the Comrades of Proven Worth (D) in our NEA indoctrination mills have been most militant in promoting their masters’ anti-white hatred and marginalization. Therefore white libtard educators must be thrilled to let diversity trump all other considerations as they put their Democrat-Bolshevik principles into practice by accepting systemic economic disenfranchisement so their diversity hire colleagues can hasten the destruction of our public education system.
Minneapolis teachers union agreement stipulates White teachers be laid off first, regardless of seniority
https://www.foxnews.com/media/minneapolis-teachers-union-agreement-stipulates-white-teachers-laid-off-first-regardless-seniority
The agreement, reached last spring, exempts teachers from ‘underrepresented’ populations from seniority-based layoffs
“Minneapolis teachers union agreement stipulates White teachers be laid off first, regardless of seniority.”
This kind of insanity is what you get when you mix together:
Intellectual laziness, narcissistic neuroticism (Virtue Signaling-based attacking feels so good, even if I’m attacking my own race) and a propensity for placing feelings over facts.
My ex Brother in law called me and brought up White Privilege. I laughed and said, “yeah, what a joke.” He said he was serious. I then proceeded to annihilate his weak arguments with hard facts he DID NOT LIKE. Haven’t heard from him since.
Virtue Signaling-based attacking feels so good, even if I’m attacking my own race
I wonder how long until these useful idiots go Jonestown and off themselves?
“Minneapolis teachers union agreement stipulates White teachers be laid off first, regardless of seniority.”
I forgot to say I’d pay to watch a nice long debate between Ben Shapiro and crazy-eyes AOC. Apparently, he’s offered to debate with her, but, unsurprisingly, she’s declined, under a lame assertion he was trying to “hit on her.” WTF? Everyone knows better. She’s declining because she knows she’s outmatched and would get clobbered.
Don’t fight the Fed my good friends…. Don’t fight the Fed.
Naples, FL Housing Prices Crater 21% YOY As Florida Emerges As The Epicenter Of Mortgage And Appraisal Fraud
https://www.movoto.com/fl/34109/market-trends/
China unexpectedly cuts key rates as economic data disappoints.
—Property investment, sales fall, home price decline deepens—
Key indicators slowed from June, missed forecasts
Youth unemployment touched record high in July
Property investment, sales fall, home price decline deepens
PBOC cuts key rates to revive credit demand
BEIJING/SHANGHAI, Aug 15 (Reuters) – China’s central bank cut key lending rates in a surprise move on Monday to revive demand as data showed the economy unexpectedly slowing in July, with factory and retail activity squeezed by Beijing’s zero-COVID policy and a property crisis.
The grim set of figures indicate the world’s second largest economy is struggling to shake off the June quarter’s hit to growth from strict COVID restrictions, prompting some economists to downgrade their projections.
https://www.reuters.com/world/china/chinas-retail-factory-sectors-unexpectedly-slow-july-2022-08-15/
https://youtube.com/shorts/-Rlo_TGBMN8?feature=share