A weekend topic starting with two reports from Bloomberg. "To cryptocurrency true believers, Bitcoin is…
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From the first 6 minute video:
Arizona Apartments for rent : Availability update for 9-12-22
AZ Apartment Pro
Sep 12, 2022
The second 6 minute video:
Las Vegas Housing market cooling off, is it time to buy?
KSNV News 3 Las Vegas
Sep 13, 2022 Southern Nevada’s red hot housing market continues to cool off, according to the August numbers released by Las Vegas Realtors (LVR) but isn’t showing any signs of a sharp pullback. There are, however, notable changes in the housing market, especially growing inventory, while higher mortgage rates become less affordable for home buyers.
The third 3 minute video:
ORANGE COUNTY
Should You Sell Now or Wait? (Housing Crash Update)
Mark Ochoa
Sep 13, 2022 Should you sell your house now or wait? Buyer demand has tanked, interest rates are spiking, inventory’s growing, and there are price reductions every day. If you need to sell your house and you still haven’t done so did you miss the boat?
The fourth 1 minute video:
The Market Isn’t Crashing—It’s Cooling
Brandi Adkins, Real Estate Life in Austin, Texas
Sep 12, 2022 What’s the truth about these alarming real estate headlines? Is the market truly crashing? The short answer is that the market isn’t likely to crash, but it is shifting. For buyers, this is great news because this change will be in your favor. What caused this movement in the housing market, and what other critical market indicators should you know?
The fifth 12 minute video:
FORT MYERS
Southwest Florida Housing Market Update – 9.12.22
Sep 12, 2022 In this week’s Southwest Florida Housing Market Update we’re seeing a return to normal for the markets, however, I believe this will be short-term return to normal before we see some of the currently unfolding news begin to drastically affect the market. What does normal look like in this housing market? Not what you’d expect…
The last 18 minute video:
Is This The Calm Before The Storm For Toronto Home Prices? – Sept 7
Team Sessa Real Estate
Sep 13, 2022
Toronto Real Estate Market Report for the week of Sept 1 – Sept 7, 2022.
The average home sale price in the Portland metro area took the steepest dive it’s had in months. In August, the median sale price was $548,400, down 3.1% from July when the median price was $566,000.
Even more amazing is that anyone would buy a house in Portlandia.
John Kilroy: Commodity office buildings are ‘Increasingly obsolete’
The Business Journals|11 hours ago
Even as their views about the future of office differed, speakers at Allen Matkins’ annual View from the Top real estate symposium agreed on one thing: Commodity office buildings are in trouble. “Leasing is very much bifurcated between the newer buildings,
Median home prices across Middle Tennessee started declining slightly at the beginning of the summer and saw a steadier decline towards the end of summer.
Between July and August, the median price for a home near Davidson County went from $490,000 to $475,000, according to Greater Nashville Realtor’s website.
Global food-delivery conglomerate Just Eat Takeaway.com NV JTKWY -7.61%decrease
is laying off as many as 350 Canadian employees as it becomes the latest company to slash costs in a skittish market for the sector.
The conglomerate bought Winnipeg-based SkipTheDishes in 2016 when it was one of Canada’s highest-profile startups. A LinkedIn analysis shows SkipTheDishes employs nearly 3,000 people across Canada, the largest group of which are in Winnipeg, where most of the layoffs are believed to have taken place.
Though food delivery has boomed in recent years, especially during the pandemic, the sector faced a wave of consolidation in recent years as it struggled to manage its costs in the face of rapid growth. Like numerous courier-focused companies, it has also clashed with employees and unions over labour rights and costs.
The delivery sector is also grappling with a reopening world after more than two years of staggered pandemic shutdowns. And since mid-November, markets have been punishing cash-hungry tech companies after years of growth-at-all-costs exuberance. Just Eat Takeaway’s Amsterdam-listed shares have fallen more than 70 per cent since then.
Now that the free money is long gone and inflation is raging, suddenly people can’t afford luxuries like having fast food delivered to their homes.
‘We’re recession-proof’: Canva founders defiant amid downturn
The Australian|5 hours ago
Australian start-up darling Canva is continuing to grow and hire despite its valuation being slashed by investors by as much as 40 per cent, as co-founders Melanie Perkins, Cliff Obrecht and Cameron Adams move to add headcount and potentially make new acquisitions amid what has otherwise become a bloodbath for the local technology industry.
There’s never enough social media design graphics.
Astoria, OR Housing Prices Crater 16% YOY As Oregon Demand Tumbles And Prices Crumble
As one Oregon broker explained, “Anything is possible with rampant fraud. Anything.”
As of midnight, New York’s emergency declaration for the Covid-19 pandemic is over. Gov. Kathy Hochul said she would not extend the executive order granting her emergency powers, opting to let it lapse instead of renewing it as she has been doing each month.
The emergency powers have become a prime target for Republican foes of the governor, who is running for a full term against Republican Rep. Lee Zeldin. Now, she says she doesn’t need them anymore. “We’re watching the numbers. Right now we’re feeling comfortable that we can suspend them,” she said. The move comes days after Hochul lifted a mask mandate for public transportation.
Hochul declared the state of emergency last November as the Omicron variant loomed, allowing her to suspend normal contracting rules to buy up supplies like tests, launch vaccination sites and so on. Controversy over the emergency order has particularly ramped up since the Times Union reported that a Hochul donor got hundreds of millions of dollars from the state for at-home tests. (The far-reaching emergency powers that former Gov. Andrew Cuomo exercised during the early days of the pandemic to impose everything from mask mandates to a requirement to buy a hot dog with a beer came from a separate emergency order, which was allowed to expire in summer 2021.)
Yet another emergency order, one enacted in response to health care staff shortages, allowing out-of-state doctors and nurses to practice here and paramedics to administer Covid-19 vaccines, does not expire until later this month, but Hochul says she doesn’t intend to renew it either.
If it feels weird not to be in a state of emergency though, don’t worry: We still are. States of emergency have been declared in response to polio and monkeypox.
As of midnight, New York’s emergency declaration for the Covid-19 pandemic is over.
Someone I know who has had adverse reactions every time he was jabbed went out and … you guessed it … got a booster and is once again too sick to work. (insert Picard facepalm meme here)
A mid-60’s M.D. friend and his M.D. wife, both 4x jabbed, were infected in July. Two days ago he got the new bivalent shot AND flu shot at the same time. I inquired why he would get the new “vaccine” so soon after having the illness? Well, cuz the CDC said so and they are the ultimate authority! It’s perfectly safe to receive both shots at the same time despite the fact that it’s never been done before. “That’s why God gave us two arms”, says WH covid czar Dr. Jha. These are troubling times.
A mid-60’s M.D. friend and his M.D. wife, both 4x jabbed, were infected in July. Two days ago he got the new bivalent shot AND flu shot at the same time. I inquired why he would get the new “vaccine” so soon after having the illness? Well, cuz the CDC said so and they are the ultimate authority!
“Two days ago he got the new bivalent shot AND flu shot at the same time.”
The latest flu shot packs a real punch. I’m usually resilient, but I felt like schitt the following couple of days.
California-based Point Mortgage Corporation has decided to shut down its wholesale business GoPointDirect and lay off employees to focus on retail lending, a top executive confirmed to HousingWire.
“We have temporarily taken it down,” Johnny Margarini, president and CEO, said during an interview. “When business picks back up, we’ll revisit wholesale, but for now, to be proactive to the way the market is, it’s best that we stop our wholesale operation.”
The company will honor and close the existing loans locked in the pipeline of GoPointDirect, “as long as the borrowers qualify,” Margarini said.
Around seven employees working directly in the wholesale division were laid off, according to Margarini. He did not provide more details regarding their last paychecks and severance payments when asked.
“Our industry is saturated with Realtors and loan officers. And I believe we went through a reset, the same way we did back in 2006 and 2007. And it happens in this industry every 10 years or so,” Margarini said.
“Las Vegas housing market is cooling off, is it time to buy?”
LOL! “Yeah, let’s catch that falling knife!” LV has turned into an over-priced, Disneyland-esque, crime-ridden mook-fest.
Years ago, Vegas used to be a hell of a lot of fun, RE was affordable, and great Casino deals were to be found. Right now, stories abound of the Casinos trying to recoup pandemic losses with ridiculous “resort fees,” high room prices, $30 drinks, $100 breakfasts and $500 dinners.
When the stock market crashes, money’s tight (monetary crisis) and layoffs ensue, IMO, the Vegas strip will look like one of those hideous “ghost cities” in China. When you’re struggling to pay your bills, gambling and/or leisure spending is off the table.
One can only fathom how high the crime-rate will spike in the aftermath in that hell-hole.
A cursory look around town, numerous fake blondes w/boob jobs and pick-up trucks w/lift kits and “big meats,” both looking for an angle or foisting a scam. No water will eventually wash ’em out!
From the first 6 minute video:
Arizona Apartments for rent : Availability update for 9-12-22
AZ Apartment Pro
Sep 12, 2022
The second 6 minute video:
Las Vegas Housing market cooling off, is it time to buy?
KSNV News 3 Las Vegas
Sep 13, 2022 Southern Nevada’s red hot housing market continues to cool off, according to the August numbers released by Las Vegas Realtors (LVR) but isn’t showing any signs of a sharp pullback. There are, however, notable changes in the housing market, especially growing inventory, while higher mortgage rates become less affordable for home buyers.
The third 3 minute video:
ORANGE COUNTY
Should You Sell Now or Wait? (Housing Crash Update)
Mark Ochoa
Sep 13, 2022 Should you sell your house now or wait? Buyer demand has tanked, interest rates are spiking, inventory’s growing, and there are price reductions every day. If you need to sell your house and you still haven’t done so did you miss the boat?
The fourth 1 minute video:
The Market Isn’t Crashing—It’s Cooling
Brandi Adkins, Real Estate Life in Austin, Texas
Sep 12, 2022 What’s the truth about these alarming real estate headlines? Is the market truly crashing? The short answer is that the market isn’t likely to crash, but it is shifting. For buyers, this is great news because this change will be in your favor. What caused this movement in the housing market, and what other critical market indicators should you know?
The fifth 12 minute video:
FORT MYERS
Southwest Florida Housing Market Update – 9.12.22
Sep 12, 2022 In this week’s Southwest Florida Housing Market Update we’re seeing a return to normal for the markets, however, I believe this will be short-term return to normal before we see some of the currently unfolding news begin to drastically affect the market. What does normal look like in this housing market? Not what you’d expect…
The last 18 minute video:
Is This The Calm Before The Storm For Toronto Home Prices? – Sept 7
Team Sessa Real Estate
Sep 13, 2022
Toronto Real Estate Market Report for the week of Sept 1 – Sept 7, 2022.
The average home sale price in the Portland metro area took the steepest dive it’s had in months. In August, the median sale price was $548,400, down 3.1% from July when the median price was $566,000.
https://www.msn.com/en-us/money/realestate/portland-area-median-home-sale-price-dropped-in-august/ar-AA11Ncoh
Even more amazing is that anyone would buy a house in Portlandia.
John Kilroy: Commodity office buildings are ‘Increasingly obsolete’
The Business Journals|11 hours ago
Even as their views about the future of office differed, speakers at Allen Matkins’ annual View from the Top real estate symposium agreed on one thing: Commodity office buildings are in trouble. “Leasing is very much bifurcated between the newer buildings,
Median home prices across Middle Tennessee started declining slightly at the beginning of the summer and saw a steadier decline towards the end of summer.
Between July and August, the median price for a home near Davidson County went from $490,000 to $475,000, according to Greater Nashville Realtor’s website.
https://www.msn.com/en-us/money/realestate/home-prices-are-starting-to-decrease-but-what-does-this-mean/ar-AA11MrJ6
Global food-delivery conglomerate Just Eat Takeaway.com NV JTKWY -7.61%decrease
is laying off as many as 350 Canadian employees as it becomes the latest company to slash costs in a skittish market for the sector.
The conglomerate bought Winnipeg-based SkipTheDishes in 2016 when it was one of Canada’s highest-profile startups. A LinkedIn analysis shows SkipTheDishes employs nearly 3,000 people across Canada, the largest group of which are in Winnipeg, where most of the layoffs are believed to have taken place.
Though food delivery has boomed in recent years, especially during the pandemic, the sector faced a wave of consolidation in recent years as it struggled to manage its costs in the face of rapid growth. Like numerous courier-focused companies, it has also clashed with employees and unions over labour rights and costs.
The delivery sector is also grappling with a reopening world after more than two years of staggered pandemic shutdowns. And since mid-November, markets have been punishing cash-hungry tech companies after years of growth-at-all-costs exuberance. Just Eat Takeaway’s Amsterdam-listed shares have fallen more than 70 per cent since then.
https://www.theglobeandmail.com/business/article-skipthedishes-lays-off-as-many-as-350-winnipeg-employees-latest-in/
Though food delivery has boomed in recent years
Now that the free money is long gone and inflation is raging, suddenly people can’t afford luxuries like having fast food delivered to their homes.
‘We’re recession-proof’: Canva founders defiant amid downturn
The Australian|5 hours ago
Australian start-up darling Canva is continuing to grow and hire despite its valuation being slashed by investors by as much as 40 per cent, as co-founders Melanie Perkins, Cliff Obrecht and Cameron Adams move to add headcount and potentially make new acquisitions amid what has otherwise become a bloodbath for the local technology industry.
There’s never enough social media design graphics.
Astoria, OR Housing Prices Crater 16% YOY As Oregon Demand Tumbles And Prices Crumble
https://www.movoto.com/astoria-or/market-trends/
As one Oregon broker explained, “Anything is possible with rampant fraud. Anything.”
As of midnight, New York’s emergency declaration for the Covid-19 pandemic is over. Gov. Kathy Hochul said she would not extend the executive order granting her emergency powers, opting to let it lapse instead of renewing it as she has been doing each month.
The emergency powers have become a prime target for Republican foes of the governor, who is running for a full term against Republican Rep. Lee Zeldin. Now, she says she doesn’t need them anymore. “We’re watching the numbers. Right now we’re feeling comfortable that we can suspend them,” she said. The move comes days after Hochul lifted a mask mandate for public transportation.
Hochul declared the state of emergency last November as the Omicron variant loomed, allowing her to suspend normal contracting rules to buy up supplies like tests, launch vaccination sites and so on. Controversy over the emergency order has particularly ramped up since the Times Union reported that a Hochul donor got hundreds of millions of dollars from the state for at-home tests. (The far-reaching emergency powers that former Gov. Andrew Cuomo exercised during the early days of the pandemic to impose everything from mask mandates to a requirement to buy a hot dog with a beer came from a separate emergency order, which was allowed to expire in summer 2021.)
Yet another emergency order, one enacted in response to health care staff shortages, allowing out-of-state doctors and nurses to practice here and paramedics to administer Covid-19 vaccines, does not expire until later this month, but Hochul says she doesn’t intend to renew it either.
If it feels weird not to be in a state of emergency though, don’t worry: We still are. States of emergency have been declared in response to polio and monkeypox.
https://www.politico.com/newsletters/new-york-playbook/2022/09/13/hochul-gives-up-emergency-powers-00056301
As of midnight, New York’s emergency declaration for the Covid-19 pandemic is over.
Someone I know who has had adverse reactions every time he was jabbed went out and … you guessed it … got a booster and is once again too sick to work. (insert Picard facepalm meme here)
A mid-60’s M.D. friend and his M.D. wife, both 4x jabbed, were infected in July. Two days ago he got the new bivalent shot AND flu shot at the same time. I inquired why he would get the new “vaccine” so soon after having the illness? Well, cuz the CDC said so and they are the ultimate authority! It’s perfectly safe to receive both shots at the same time despite the fact that it’s never been done before. “That’s why God gave us two arms”, says WH covid czar Dr. Jha. These are troubling times.
A mid-60’s M.D. friend and his M.D. wife, both 4x jabbed, were infected in July. Two days ago he got the new bivalent shot AND flu shot at the same time. I inquired why he would get the new “vaccine” so soon after having the illness? Well, cuz the CDC said so and they are the ultimate authority!
https://i.imgflip.com/1d7bh7.jpg
“Two days ago he got the new bivalent shot AND flu shot at the same time.”
The latest flu shot packs a real punch. I’m usually resilient, but I felt like schitt the following couple of days.
California-based Point Mortgage Corporation has decided to shut down its wholesale business GoPointDirect and lay off employees to focus on retail lending, a top executive confirmed to HousingWire.
“We have temporarily taken it down,” Johnny Margarini, president and CEO, said during an interview. “When business picks back up, we’ll revisit wholesale, but for now, to be proactive to the way the market is, it’s best that we stop our wholesale operation.”
The company will honor and close the existing loans locked in the pipeline of GoPointDirect, “as long as the borrowers qualify,” Margarini said.
Around seven employees working directly in the wholesale division were laid off, according to Margarini. He did not provide more details regarding their last paychecks and severance payments when asked.
“Our industry is saturated with Realtors and loan officers. And I believe we went through a reset, the same way we did back in 2006 and 2007. And it happens in this industry every 10 years or so,” Margarini said.
https://www.housingwire.com/articles/point-mortgage-corp-exits-wholesale-channel-for-now/
This is a savagely unhealthy development!
“Las Vegas housing market is cooling off, is it time to buy?”
LOL! “Yeah, let’s catch that falling knife!” LV has turned into an over-priced, Disneyland-esque, crime-ridden mook-fest.
Years ago, Vegas used to be a hell of a lot of fun, RE was affordable, and great Casino deals were to be found. Right now, stories abound of the Casinos trying to recoup pandemic losses with ridiculous “resort fees,” high room prices, $30 drinks, $100 breakfasts and $500 dinners.
When the stock market crashes, money’s tight (monetary crisis) and layoffs ensue, IMO, the Vegas strip will look like one of those hideous “ghost cities” in China. When you’re struggling to pay your bills, gambling and/or leisure spending is off the table.
One can only fathom how high the crime-rate will spike in the aftermath in that hell-hole.
A cursory look around town, numerous fake blondes w/boob jobs and pick-up trucks w/lift kits and “big meats,” both looking for an angle or foisting a scam. No water will eventually wash ’em out!