A report from the Naples Daily News in Florida. "While buyers struggle to find inventory…
This Post Has 14 Comments
The first 7:32 video:
Dangers of Over Pricing in a Declining Sacramento Market | Don’t Fight The Market
Adopt a Dog Realtor – Tim Pantle – Sacramento
Aug 30, 2022 Sellers, Don’t Fight The Market, You Won’t Win. What are the dangers of overpricing a home in a declining market?
The second 12 minute video:
Phoenix Real Estate Market Update 8.29.22
Kristen Armstrong
Aug 29, 2022 The listing success rate is at an all-time low with 30% of listings falling out and/or not closing. The Phoenix housing market is seeing a steady decline in home values with an increase in inventory…. homes are on the market longer and with new listings coming to market daily, we have over 3 months’ supply of inventory.
Is this the new normal?
The third 12 minute video:
Home Buyers GET READY the Las Vegas Market TIPPING POINT is Here
Eric Nuke Hudson Living in Las Vegas
Aug 29, 2022 Home Buyers GET READY the Las Vegas Market TIPPING POINT is Here. The Las Vegas market is on the tipping point and home buyers need to get ready! In this video, we discuss the current market conditions and what home buyers can expect in the coming months.
The fourth 6 minute video:
Housing Market Forecast End of August 2022 – Bay Area Home Prices Are Falling?
Living in San Mateo County – Wilson Leung
Aug 29, 2022 Here is your End of August #bayarearealestate #homeprices & #homevalues market update.
How much have prices gone down?
0:00 San Mateo County
2:16 San Francisco County
3:49 Santa Clara County
4:37 Contra Costa & Alameda Counties
The fifth 14 minute video:
More Terrible News For The Housing Market
Aug 29, 2022 Boy when it rains, it pours. This week past week pretty much everything happening in the real estate market was bad. Just more terrible news for the housing market. We will look at what is going on in the market. The latest news and update plus, what do you do if you are a home buyer? A home seller?
0:00 Introduction
0:49 Existing Home Sales Report
2:30 Housing Inventory
3:10 Home Prices
4:43 Breakdown by Property types
7:15 Home Buyer Tips
11:30 Home Seller Tips
The sixth 5:23 VIDEO:
Economists report overvalued home prices in Houston, Austin
FOX 26 Houston
Aug 29, 2022 Were you caught in a bidding war to buy your home recently? We talk about what happens if those inflated home prices drop.
The seventh 11 minute video:
Rare Market Condition in Georgetown, TX
Aug 29, 2022 The shifting Austin real estate market and the Georgetown housing market are in a rare condition.
The eighth 5 minute video:
China’s Tofu Buildings are Falling Down!
China Fact Chasers
Aug 30, 2022 We built this city on tofu dregs!
The last 14 minute video:
Not All Toronto Real Estate Advice Is Good For You – Aug 24
Team Sessa Real Estate
Aug 30, 2022
The china one (8th) video is pretty interesting. The ponzi scheme beginning to pop? hmmmmmmmmmm
A deal signed by the U.S. and China last week allowing U.S. inspectors to review the audit records of U.S.-listed Chinese companies could prevent scores of firms from being booted off U.S. stock exchanges while ensuring the companies follow U.S. law.
Why it matters: There are more than 260 Chinese companies listed on U.S. exchanges, with a total worth of around $1.3 trillion. U.S. investors want access to those firms, but until now, Beijing has prioritized maintaining a tight domestic grip over company data.
Details: U.S. inspectors will be permitted to travel to Hong Kong and will have complete access to audit papers and the company personnel who conducted the audits, according to an announcement by the Public Company Accounting Oversight Board (PCAOB), the U.S. organization that oversees audits of companies listed on U.S. exchanges.
The language of the agreement has not been made public.
What they’re saying: “On paper, the agreement signed … grants the PCAOB complete access to the audit work papers, audit personnel, and other information we need to inspect and investigate any firm we choose, with no loopholes and no exceptions,” PCAOB chair Erica Williams said in the statement. “But the real test will be whether the words agreed to on paper translate into complete access in practice.”
Eighty-one of the 100 largest metropolitan areas favored sellers in July. Three markets in California – San Diego, San Francisco and San Jose – moved from sellers’ to buyers’ markets as home prices dropped by more than 60% and days on market also rose significantly over the same period last year. In a buyers’ market, sellers are more likely to accept a lower price than the list price. The opposite is true in a sellers’ market where homes often sell for more than the list price.
Sixteen metros – Salt Lake City; Phoenix; Los Angeles; Boise, Idaho; Atlanta; Nashville, Tenn.; Bakersfield, Calif.; Fresno, Calif.; Riverside, Calif.; Colorado Springs, Colo.; New Orleans; Orlando, Fla.; Portland, Ore.; Tampa, Fla.; Denver and Oxnard, Calif. – moved from favoring sellers to neutral, favoring neither buyers or sellers.
We are still in the pre-game show.
I doubt the “as home prices dropped by more than 60%” in San Diego thus far. Ultimately, yes.
Next month should be fun when QT picks up.
Lumber prices fell to a new 2022 low on Tuesday as higher mortgage rates continue to weigh on a slowing housing market. The essential building commodity fell as much as 4% on Tuesday to $465 per thousand board feet, decisively below the low seen in early August of $470.
Rising interest rates are thwarting the U.S. housing market’s momentum, hammering many stocks tied to the fortunes in the sector.
Shares of Toll Brothers and KB Home are down 15% and 22% in the last six months alone — with the former pressured by a weak second quarter and outlook for growth earlier in August — while the SPDR S&P Homebuilders ETEF has shed 12% in the last six months.
Goldman Sachs Chief Economist Jan Hatzius asserted that further housing pressure is likely, writing in a new note ominously titled: “Housing Downturn: Further to Fall.”
As a noted economist stated so eloquently, “If you have to borrow for 15 or 30 years, you can’t afford it nor is it affordable.”
Nearly 50% of houses in Seattle were sold below their initial asking price, nearly double the amount from July 2021, across an overall cooling housing market nationwide, according to Redfin data.
A high share of home sellers dropped their asking price in July, particularly in pandemic boomtowns like Seattle and Portland, as they struggled to match their expectations with the market.
Western Washington had approximately 9,000 active listings in June, up close to 60% year-over-year. Pending and closed sales are down year-over-year (a decrease of 11.7%), but up from the previous month (an increase of 8.2%).
Canadian e-commerce financing start-up Clearco is shutting down its business in Ireland, leading to the loss of around 50 jobs.
This comes just months after the Toronto-based fintech announced plans to create 125 new jobs in Ireland in an expansion of its sales and development hub in Dublin. This would have added to its 75 employees in the country at the time.
However, citing unfavourable market conditions, Clearco co-founders Michele Romanow and Andrew D’Souza told staff in a note that it is shuttering operations outside North America, affecting about 60 employees across Ireland, the UK and Australia, The Logic reports.
“This was not a decision we made lightly, but one that became abundantly necessary when evaluating the current market,” the note read.
Clearco, which raised $215m last year in a round led by SoftBank, said it is handing off its clients in Ireland, the UK and Australia to UK-based e-commerce financing platform, Outfund, for which it will receive commissions.
This news does not come out of nowhere for Clearco’s Irish employees. Earlier this month, the Sunday Independent reported that the company told its Irish staff that the future of its operations in the country could be at risk – putting around 50 jobs at stake.
The first 7:32 video:
Dangers of Over Pricing in a Declining Sacramento Market | Don’t Fight The Market
Adopt a Dog Realtor – Tim Pantle – Sacramento
Aug 30, 2022 Sellers, Don’t Fight The Market, You Won’t Win. What are the dangers of overpricing a home in a declining market?
The second 12 minute video:
Phoenix Real Estate Market Update 8.29.22
Kristen Armstrong
Aug 29, 2022 The listing success rate is at an all-time low with 30% of listings falling out and/or not closing. The Phoenix housing market is seeing a steady decline in home values with an increase in inventory…. homes are on the market longer and with new listings coming to market daily, we have over 3 months’ supply of inventory.
Is this the new normal?
The third 12 minute video:
Home Buyers GET READY the Las Vegas Market TIPPING POINT is Here
Eric Nuke Hudson Living in Las Vegas
Aug 29, 2022 Home Buyers GET READY the Las Vegas Market TIPPING POINT is Here. The Las Vegas market is on the tipping point and home buyers need to get ready! In this video, we discuss the current market conditions and what home buyers can expect in the coming months.
The fourth 6 minute video:
Housing Market Forecast End of August 2022 – Bay Area Home Prices Are Falling?
Living in San Mateo County – Wilson Leung
Aug 29, 2022 Here is your End of August #bayarearealestate #homeprices & #homevalues market update.
How much have prices gone down?
0:00 San Mateo County
2:16 San Francisco County
3:49 Santa Clara County
4:37 Contra Costa & Alameda Counties
The fifth 14 minute video:
More Terrible News For The Housing Market
Aug 29, 2022 Boy when it rains, it pours. This week past week pretty much everything happening in the real estate market was bad. Just more terrible news for the housing market. We will look at what is going on in the market. The latest news and update plus, what do you do if you are a home buyer? A home seller?
0:00 Introduction
0:49 Existing Home Sales Report
2:30 Housing Inventory
3:10 Home Prices
4:43 Breakdown by Property types
7:15 Home Buyer Tips
11:30 Home Seller Tips
The sixth 5:23 VIDEO:
Economists report overvalued home prices in Houston, Austin
FOX 26 Houston
Aug 29, 2022 Were you caught in a bidding war to buy your home recently? We talk about what happens if those inflated home prices drop.
The seventh 11 minute video:
Rare Market Condition in Georgetown, TX
Aug 29, 2022 The shifting Austin real estate market and the Georgetown housing market are in a rare condition.
The eighth 5 minute video:
China’s Tofu Buildings are Falling Down!
China Fact Chasers
Aug 30, 2022 We built this city on tofu dregs!
The last 14 minute video:
Not All Toronto Real Estate Advice Is Good For You – Aug 24
Team Sessa Real Estate
Aug 30, 2022
The china one (8th) video is pretty interesting. The ponzi scheme beginning to pop? hmmmmmmmmmm
A deal signed by the U.S. and China last week allowing U.S. inspectors to review the audit records of U.S.-listed Chinese companies could prevent scores of firms from being booted off U.S. stock exchanges while ensuring the companies follow U.S. law.
Why it matters: There are more than 260 Chinese companies listed on U.S. exchanges, with a total worth of around $1.3 trillion. U.S. investors want access to those firms, but until now, Beijing has prioritized maintaining a tight domestic grip over company data.
Details: U.S. inspectors will be permitted to travel to Hong Kong and will have complete access to audit papers and the company personnel who conducted the audits, according to an announcement by the Public Company Accounting Oversight Board (PCAOB), the U.S. organization that oversees audits of companies listed on U.S. exchanges.
The language of the agreement has not been made public.
What they’re saying: “On paper, the agreement signed … grants the PCAOB complete access to the audit work papers, audit personnel, and other information we need to inspect and investigate any firm we choose, with no loopholes and no exceptions,” PCAOB chair Erica Williams said in the statement. “But the real test will be whether the words agreed to on paper translate into complete access in practice.”
https://www.axios.com/2022/08/30/us-china-audit-deal-stock-exchanges-companies
Knock’s New Buyer-Seller Index Shows Three Housing Markets Now Buyers’ Markets With a Dozen More Flipping By June 2023
https://finance.yahoo.com/news/knocks-buyer-seller-index-shows-095700370.html
We are still in the pre-game show.
I doubt the “as home prices dropped by more than 60%” in San Diego thus far. Ultimately, yes.
Next month should be fun when QT picks up.
Lumber prices fell to a new 2022 low on Tuesday as higher mortgage rates continue to weigh on a slowing housing market. The essential building commodity fell as much as 4% on Tuesday to $465 per thousand board feet, decisively below the low seen in early August of $470.
https://www.msn.com/en-us/money/realestate/lumber-prices-decline-to-a-new-2022-low-as-goldman-warns-housing-market-has-further-room-to-fall/ar-AA11gUuc
Rising interest rates are thwarting the U.S. housing market’s momentum, hammering many stocks tied to the fortunes in the sector.
Shares of Toll Brothers and KB Home are down 15% and 22% in the last six months alone — with the former pressured by a weak second quarter and outlook for growth earlier in August — while the SPDR S&P Homebuilders ETEF has shed 12% in the last six months.
Goldman Sachs Chief Economist Jan Hatzius asserted that further housing pressure is likely, writing in a new note ominously titled: “Housing Downturn: Further to Fall.”
Here are Hatzius’ two calls on housing.
https://www.msn.com/en-us/money/realestate/goldman-on-the-hampered-housing-market-further-to-fall/ar-AA11gz8d
Tampa, FL Housing Prices Crater 27% YOY As Mushroom Cloud Of Fear, Doubt And Falling Prices Balloons Over US Housing Market
https://www.movoto.com/fl/33615/market-trends/
As a noted economist stated so eloquently, “If you have to borrow for 15 or 30 years, you can’t afford it nor is it affordable.”
Nearly 50% of houses in Seattle were sold below their initial asking price, nearly double the amount from July 2021, across an overall cooling housing market nationwide, according to Redfin data.
A high share of home sellers dropped their asking price in July, particularly in pandemic boomtowns like Seattle and Portland, as they struggled to match their expectations with the market.
Western Washington had approximately 9,000 active listings in June, up close to 60% year-over-year. Pending and closed sales are down year-over-year (a decrease of 11.7%), but up from the previous month (an increase of 8.2%).
https://mynorthwest.com/3612510/50-percent-seattle-home-require-price-drop-order-sell/
Canadian e-commerce financing start-up Clearco is shutting down its business in Ireland, leading to the loss of around 50 jobs.
This comes just months after the Toronto-based fintech announced plans to create 125 new jobs in Ireland in an expansion of its sales and development hub in Dublin. This would have added to its 75 employees in the country at the time.
However, citing unfavourable market conditions, Clearco co-founders Michele Romanow and Andrew D’Souza told staff in a note that it is shuttering operations outside North America, affecting about 60 employees across Ireland, the UK and Australia, The Logic reports.
“This was not a decision we made lightly, but one that became abundantly necessary when evaluating the current market,” the note read.
Clearco, which raised $215m last year in a round led by SoftBank, said it is handing off its clients in Ireland, the UK and Australia to UK-based e-commerce financing platform, Outfund, for which it will receive commissions.
This news does not come out of nowhere for Clearco’s Irish employees. Earlier this month, the Sunday Independent reported that the company told its Irish staff that the future of its operations in the country could be at risk – putting around 50 jobs at stake.
https://www.siliconrepublic.com/start-ups/clearco-ireland-dublin-jobs-cut-uk-australia-outfund
As a renown economist explained, “An environment of falling prices is crucial to keep our economy humming along.”
He’s right.
Culver, OR Housing Prices Crater 24% YOY As Subprime Mortgage Implosion Accelerates
https://www.movoto.com/culver-or/market-trends/