A report from the Philadelphia Inquirer in Pennsylvania. "When Toll Brothers cofounder Bruce E. Toll…
This Post Has 11 Comments
From the first 7:22 video:
Temecula and Murrieta Housing Crash??
ug 22, 2022 Are we seeing a housing crash here locally in Murrieta and Temecula CA? Here is my August 2022 market update for the Temecula and Murrieta areas. Starting to see a shift in the Temecula housing market as I had predicted back in January of this year.
How far will prices dip?
The second 6:22 video:
August 2022 How Much Have Home Prices Declined? Will They Go Down Further? SM, SF, SC, AL, CC County
Aug 22, 2022 Here is your Mid August market update.
How much have prices gone down?
0:00 San Mateo County
2:31 San Francisco County
4:10 Santa Clara County
5:04 Contra Costa & Alameda Counties
The third 4:39 video:
Orange County Weekly Housing Report
Aug 23, 2022
The fourth 6:22 video:
The Untold Truth About The Toronto Real Estate Market. August: Slowest Month Of The Year.
Vic Singh
Aug 23, 2022 Toronto Real Estate Market declining every single month. Making it look like August will be the slowest month this year. See Toronto real estate market analysis without any sales bias. I cover average prices for Toronto detached homes in 2022 and Toronto condo prices this year month by month.
Will the Toronto real estate market crash? That remains to be seen but it is certainly not looking very promising.
The last 18:23 video:
Conditions Costing Sellers Thousands In Toronto Real Estate – Aug 17
Team Sessa Real Estate
Aug 23, 2022
Toronto Real Estate Market Report for the week of Aug 11 – Aug 17, 2022.
‘The Census Bureau said that only 511,000 were sold in the month, down from 585,000 in June (a number that was also trimmed by 5,000 from its initial estimate). That was barely half the number seen at the peak of the pandemic, when the need for more space to allow remote working drove a frenzy for bigger suburban houses.’
“Price cuts are going to come fast and hard in the new home space,” said EPB Macro Research’s Eric Basmajian via Twitter, pointing to the sharp increase in the ratio of unsold houses to monthly sales. Having fallen to an all-time low of 3.3 in the first year of the pandemic, that ratio has now risen to nearly 11 times, and hasn’t been higher since the subprime housing bubble imploded.’
‘Home foreclosures are on the rise across the country, nearly double where we were last year at this time. Joe Mahon of the Federal Reserve Bank of Minneapolis says high energy prices are playing a role. He says while gas prices have been trending downward, they’re still higher than they were a year ago. And homeowners might also be reeling from other energy price hikes, including natural gas and the cost of heating their homes. As for foreclosure filings, Minnesota has seen a rise in the number of foreclosures, and we are in the middle of the pack among states for the first half of 2022. More than 2,100 properties around the state were in foreclosure during that period.’
‘Santa Cruz city voters will decide on Measure N in the Nov. 8 election. Measure N is a tax on homes that are vacant for most of the year in the City of Santa Cruz. The tax would raise money for affordable housing projects. Because of the city’s housing shortage, the tax is intended to incentivize homeowners to occupy or rent their properties. Proponents gathered signatures to put the measure on the Nov. 8 ballot.’
‘The city’s finance department estimated that 1,000 houses and apartments would be eligible for the tax, based on city records.’
I’m sure Boo Randy and oxide will be all over this with more imprecations against locusts, speculator scum, etc. But it seems to me this will just prompt more people to look for loopholes such as making minor repairs so they can say the property is under construction, or bringing in short-term tenants so the property qualifies as occupied for 120 days out of the year.
Gosh, remember the days when we were “the freest country in the world” or a man’s home is his castle and he can do whatever he wants???????
It’s MY property and if I want to leave it empty I will. I pay the taxes, I keep up with the appearances/HOA stuff.
This is a taking, plain and simple.
“It’s MY property”
It isn’t when you’re renting it from the bank at twice the monthly cost of renting it on the open market.
Rio Linda, CA Housing Prices Crater 18% As Sacramento County’s Fraud Crippled Housing Market Goes Down For The Ten Count
Housing market in the Los Angeles area will never drop again. Too much equity in majority of LA market. It will slow but not drop. If anyone recently over stretched to buy and/or becomes unemployed then they’re gonna be hurting but the percentage of recent buyers is small compared to those who bought at least three or more years ago. (20% rise per year) Way too many people, over crowded and not enough houses. Can’t wait to retire and get the heck outta dodge.
Housing in affluent Danville Ca are down 22% in the last 3 months. And are poised to drop at least another 10% this year…
‘Asia’s largest high-yield bond funds are steering clear of China’s real estate sector as a worsening liquidity crisis weighs on the debt, according to research firm Morningstar Inc.’
‘The average weighting of China property bonds in the Asian junk funds dropped to 16% in June from almost 28% at the end of last year, as a crackdown on borrowing and a plunge in housing sales continue to batter the industry.’
‘The funds, from global asset managers BlackRock Inc., Fidelity International Ltd., HSBC Holdings Plc, Pacific Investment Management Co. and UBS Group AG, registered double-digit losses through the end of July, the report says. BlackRock’s high-yield fund cut its property exposure by almost half in June from December to about 15% of the portfolio. PIMCO reduced it to 12% from 22%.’
‘Bloomberg reported earlier this year that the top institutional investors are reducing their positions in China’s high-yield dollar bonds after investor confidence got stung by a prolonged property crisis.’
But bloomberg, you said they made the payments – at the last minute? Were you a lion??
‘Investors globally are staring at losses worth $130 billion in dollar-dominated bonds, given China’s faltering real estate market. According to an analysis by the Financial Times, nearly two-thirds of the five-hundred dollar bonds issued by real estate developers in China are priced below 70 cents on the dollar. To put things in perspective, bonds are trading as low as $0.09, in this case of the Kaisa Group.’
From the first 7:22 video:
Temecula and Murrieta Housing Crash??
ug 22, 2022 Are we seeing a housing crash here locally in Murrieta and Temecula CA? Here is my August 2022 market update for the Temecula and Murrieta areas. Starting to see a shift in the Temecula housing market as I had predicted back in January of this year.
How far will prices dip?
The second 6:22 video:
August 2022 How Much Have Home Prices Declined? Will They Go Down Further? SM, SF, SC, AL, CC County
Aug 22, 2022 Here is your Mid August market update.
How much have prices gone down?
0:00 San Mateo County
2:31 San Francisco County
4:10 Santa Clara County
5:04 Contra Costa & Alameda Counties
The third 4:39 video:
Orange County Weekly Housing Report
Aug 23, 2022
The fourth 6:22 video:
The Untold Truth About The Toronto Real Estate Market. August: Slowest Month Of The Year.
Vic Singh
Aug 23, 2022 Toronto Real Estate Market declining every single month. Making it look like August will be the slowest month this year. See Toronto real estate market analysis without any sales bias. I cover average prices for Toronto detached homes in 2022 and Toronto condo prices this year month by month.
Will the Toronto real estate market crash? That remains to be seen but it is certainly not looking very promising.
The last 18:23 video:
Conditions Costing Sellers Thousands In Toronto Real Estate – Aug 17
Team Sessa Real Estate
Aug 23, 2022
Toronto Real Estate Market Report for the week of Aug 11 – Aug 17, 2022.
‘The Census Bureau said that only 511,000 were sold in the month, down from 585,000 in June (a number that was also trimmed by 5,000 from its initial estimate). That was barely half the number seen at the peak of the pandemic, when the need for more space to allow remote working drove a frenzy for bigger suburban houses.’
“Price cuts are going to come fast and hard in the new home space,” said EPB Macro Research’s Eric Basmajian via Twitter, pointing to the sharp increase in the ratio of unsold houses to monthly sales. Having fallen to an all-time low of 3.3 in the first year of the pandemic, that ratio has now risen to nearly 11 times, and hasn’t been higher since the subprime housing bubble imploded.’
https://finance.yahoo.com/news/u-home-sales-fell-july-101344652.html
The chorus of Debt Donkeys braying their tales of woe is growing louder.
The poor donks…the poor poor donks.
Phoenix, AZ Housing Prices Crater 13% YOY As Arizona Sellers Capitulate And Demand Collapses
https://www.movoto.com/az/85006/market-trends/
‘Home foreclosures are on the rise across the country, nearly double where we were last year at this time. Joe Mahon of the Federal Reserve Bank of Minneapolis says high energy prices are playing a role. He says while gas prices have been trending downward, they’re still higher than they were a year ago. And homeowners might also be reeling from other energy price hikes, including natural gas and the cost of heating their homes. As for foreclosure filings, Minnesota has seen a rise in the number of foreclosures, and we are in the middle of the pack among states for the first half of 2022. More than 2,100 properties around the state were in foreclosure during that period.’
https://www.voiceofalexandria.com/news/local/home-foreclosures-on-the-rise-in-minnesota/article_e5034fd4-22d7-11ed-a25a-cb9ee23f6931.html
‘Santa Cruz city voters will decide on Measure N in the Nov. 8 election. Measure N is a tax on homes that are vacant for most of the year in the City of Santa Cruz. The tax would raise money for affordable housing projects. Because of the city’s housing shortage, the tax is intended to incentivize homeowners to occupy or rent their properties. Proponents gathered signatures to put the measure on the Nov. 8 ballot.’
‘The city’s finance department estimated that 1,000 houses and apartments would be eligible for the tax, based on city records.’
https://santacruzlocal.org/2022/08/24/explainer-santa-cruzs-empty-home-tax-measure/
I’m sure Boo Randy and oxide will be all over this with more imprecations against locusts, speculator scum, etc. But it seems to me this will just prompt more people to look for loopholes such as making minor repairs so they can say the property is under construction, or bringing in short-term tenants so the property qualifies as occupied for 120 days out of the year.
Gosh, remember the days when we were “the freest country in the world” or a man’s home is his castle and he can do whatever he wants???????
It’s MY property and if I want to leave it empty I will. I pay the taxes, I keep up with the appearances/HOA stuff.
This is a taking, plain and simple.
“It’s MY property”
It isn’t when you’re renting it from the bank at twice the monthly cost of renting it on the open market.
Rio Linda, CA Housing Prices Crater 18% As Sacramento County’s Fraud Crippled Housing Market Goes Down For The Ten Count
https://www.movoto.com/rio-linda-ca/market-trends/
As a ten year Northern California broker conceded, “Fraud is built into every transaction. It’s always been that way.”
Some US home prices are dropping, but it’s still a rich person’s market
https://finance.yahoo.com/news/us-home-prices-dropping-still-174000206.html
From the comments:
Housing market in the Los Angeles area will never drop again. Too much equity in majority of LA market. It will slow but not drop. If anyone recently over stretched to buy and/or becomes unemployed then they’re gonna be hurting but the percentage of recent buyers is small compared to those who bought at least three or more years ago. (20% rise per year) Way too many people, over crowded and not enough houses. Can’t wait to retire and get the heck outta dodge.
Housing in affluent Danville Ca are down 22% in the last 3 months. And are poised to drop at least another 10% this year…
‘Asia’s largest high-yield bond funds are steering clear of China’s real estate sector as a worsening liquidity crisis weighs on the debt, according to research firm Morningstar Inc.’
‘The average weighting of China property bonds in the Asian junk funds dropped to 16% in June from almost 28% at the end of last year, as a crackdown on borrowing and a plunge in housing sales continue to batter the industry.’
‘The funds, from global asset managers BlackRock Inc., Fidelity International Ltd., HSBC Holdings Plc, Pacific Investment Management Co. and UBS Group AG, registered double-digit losses through the end of July, the report says. BlackRock’s high-yield fund cut its property exposure by almost half in June from December to about 15% of the portfolio. PIMCO reduced it to 12% from 22%.’
‘Bloomberg reported earlier this year that the top institutional investors are reducing their positions in China’s high-yield dollar bonds after investor confidence got stung by a prolonged property crisis.’
https://finance.yahoo.com/news/blackrock-ubs-among-funds-slashing-040556893.html
But bloomberg, you said they made the payments – at the last minute? Were you a lion??
‘Investors globally are staring at losses worth $130 billion in dollar-dominated bonds, given China’s faltering real estate market. According to an analysis by the Financial Times, nearly two-thirds of the five-hundred dollar bonds issued by real estate developers in China are priced below 70 cents on the dollar. To put things in perspective, bonds are trading as low as $0.09, in this case of the Kaisa Group.’
https://swarajyamag.com/world/china-real-estate-crisis-global-investor-losses-continue-to-pile-up