A weekend topic starting with Cayman Compass. "More than a year ago, during the midst…
This Post Has 11 Comments
From the first 3 minute video:
CAMPBELL RIVER
Is the Real Estate market crashing?
Vancouver Island Real Estate
Sep 29, 2022
The second 10 minute video:
Las Vegas Real Estate Market is Bearish..Inflation, Interest Rate Hike, and more!!
Kristen Riffle
Sep 29, 2022 Las Vegas Housing Market is in a bearish state while inflation continues to soar, interest rates hit 7%, and rental prices go through the roof.
The third 11 minute video:
PARKER
Home Buyers Terminating Contracts 😩 (At Record Rates!)
Southeast Denver Living Cher Revolinski Realtor
Sep 29, 2022 Home Buyers are terminating their purchase contracts at record rates. Let’s discuss why home buyers are canceling contracts on the purchase to buy a home. Our housing market has shifted quickly and we are seeing some behavior that is unprecedented. We are currently seeing Back On Market numbers increasing and this is for a few key reasons. This information will help if you are a home buyer or a home seller wanting to prevent these scenarios from derailing your transaction.
The fourth 9 minute video:
Buyers Are DUMPING Homes & CRASHING The Arizona Real Estate Market
Shawn Shackelton
Sep 29, 2022 After a 2-year buying spree, the iBuyers are now having to dump many of the homes they bought above market value which is having a big impact on the Arizona Real Estate Market. Watch this video to find out how much this is affecting the overall real estate market.
The last 13:34 video:
Pay Close Attention To Listings In Vaughan, Richmond Hill & Markham Real Estate – September 21
Team Sessa Real Estate
Sep 29, 2022
Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices for the week of Sept 15 – Sept 21, 2022.
Take comfort, America: “The economy hasn’t imploded as it did during the Great Depression.” Yes, that’s the best Michelle Singletary can suggest as she hopelessly attempts to put a positive spin on Democrats’ inflation-recession cycle in her truly wacky WaPo advice column. Home buyers, she notes, may see prices drop, though they’ll pay more in mortgage interest — and owners may lose a fortune. You might get more if you sell your used car (huh?). And “student loan forgiveness is coming” (triple-huh?). WaPo is clearly taking cues from the Babylon Bee, which earlier offered “9 Reasons Not To Worry About The Tanking Economy.” Except that was satire.
ROBERT SHILLER: I don’t like the word crash. It took six years to reach bottom after the 2005 peak. I’d like to talk in real terms. Real housing prices corrected for the CPI. And the peak was actually in December 2005, not 2007, 2008, as we think of. That was a delayed effect. It took six years. It wasn’t until 2012 that home prices started going up again. So these things are very slow, and it’s not like the stock market.
Home prices decline at rates seen close to a decade ago
Palm Beach Post|9 days ago
As prices continue to decelerate, a 3% or lower year-over-year increase in median prices by December is possible, one expert thinks.
“The market is definitely stabilizing,” says Liz Moore, board president of Real Estate Information Network Inc., the multiple listing service (MLS) for the Hampton Roads region. “We had such a frenzied market during the pandemic.”
“It was so competitive for the last two years that buyers didn’t have much of a chance in a multiple-offer situation,” Moore says. “Now that there’s not quite such an intense frenzy of competition, buyers don’t have to pay such wild prices.”
“We’re finding that sellers aren’t selling, buyers have pulled back,” First American Deputy Chief Economist Odeta Kushi told Yahoo Finance (video above). “And that’s resulting in a housing market that’s cooling quite a bit.”
Dallas developer loses ownership of Turtle Creek site once anticipated to house Mandarin Oriental hotel, condo tower
The Business Journals|16 hours ago
A real estate developer indicted last week on felony fraud charges has lost control of a high-profile site he’d planned to turn into a high-rise luxury condo tower and hotel in the exclusive Turtle Creek neighborhood in Dallas.
Long before McGough, Lake Highlands began suffering the effects of too many apartments with too little oversight. A 2004 article in a Texas paper called Dallas “one of the nation’s deadliest cities” and focused on the Skillman-Audelia area. It read like “The Wire” and labeled Lake Highlands apartments “killing fields.”
Most people don’t know the difference between so-called market rate apartments and low income apartments, McGough says. They only see a glut of apartments, 17,000 at last count. The Advocate reported last November that five of 10 “eviction hotspots” in all of Dallas County are in 75243.
So it is disingenuous to say Lake Highlands does not do its part to house low-income or workforce residents, McGough says. He and his predecessors have worked with the Apartment Association of Greater Dallas to keep those apartments safe, but it remains an ongoing battle, he says.
As recently as a few months ago, a police spokesperson, referring to the same cluster of apartments at a safety committee session said, “apartment complexes are driving our murders.”
So it is easy to understand why nearby residents are not clamoring for more.
Singapore has unveiled a package of measures for the property market, including tightening lending limits for housing loans in response to a rise in interest rates, as well as new steps to moderate demand.
The new measures are mainly targeted at the resale public housing market, which had “overheated” this year given high prices across the island, said Christine Sun, senior vice president of research & analytics at OrangeTee & Tie.
Many central banks across the world have increased interest rates recently to fight inflation. In Singapore, bank mortgage interest rates are determined by commercial banks. Three local banks have in recent weeks temporarily removed fixed-rate home loans.
SoftBank’s Vision Fund Reportedly Cutting 30% Of Staff—Here Are The Major U.S. Layoffs This Year
Forbes|14 hours ago
Forbes is tracking the biggest layoffs in the U.S. this year as companies react to fears of a looming recession.
Potential buyers who find themselves as sole bidders at auctions have recently been bidding against themselves to secure a sale, but is this the best tactic?
Buyer’s agent Claire Corby of Capital Buyers Agency said there were many things to consider if you were the sole bidder at an auction, starting with identifying yourself as one.
From there, Corby said the secret was to keep a cool head, as auctions could be “pressure-cooker environments”.
“You’re going to be very nervous and emotional because. after all, it’s a home that you are considering to live in, which can hijack your brain and your ability to think clearly on the day,” she said.
“If there is only one person registered at an auction, the auctioneer will still be trying to impress the vendors who employed them, as well as any potential buyers that may want to sell in the future in the neighbourhood.
From the first 3 minute video:
CAMPBELL RIVER
Is the Real Estate market crashing?
Vancouver Island Real Estate
Sep 29, 2022
The second 10 minute video:
Las Vegas Real Estate Market is Bearish..Inflation, Interest Rate Hike, and more!!
Kristen Riffle
Sep 29, 2022 Las Vegas Housing Market is in a bearish state while inflation continues to soar, interest rates hit 7%, and rental prices go through the roof.
The third 11 minute video:
PARKER
Home Buyers Terminating Contracts 😩 (At Record Rates!)
Southeast Denver Living Cher Revolinski Realtor
Sep 29, 2022 Home Buyers are terminating their purchase contracts at record rates. Let’s discuss why home buyers are canceling contracts on the purchase to buy a home. Our housing market has shifted quickly and we are seeing some behavior that is unprecedented. We are currently seeing Back On Market numbers increasing and this is for a few key reasons. This information will help if you are a home buyer or a home seller wanting to prevent these scenarios from derailing your transaction.
The fourth 9 minute video:
Buyers Are DUMPING Homes & CRASHING The Arizona Real Estate Market
Shawn Shackelton
Sep 29, 2022 After a 2-year buying spree, the iBuyers are now having to dump many of the homes they bought above market value which is having a big impact on the Arizona Real Estate Market. Watch this video to find out how much this is affecting the overall real estate market.
The last 13:34 video:
Pay Close Attention To Listings In Vaughan, Richmond Hill & Markham Real Estate – September 21
Team Sessa Real Estate
Sep 29, 2022
Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices for the week of Sept 15 – Sept 21, 2022.
Take comfort, America: “The economy hasn’t imploded as it did during the Great Depression.” Yes, that’s the best Michelle Singletary can suggest as she hopelessly attempts to put a positive spin on Democrats’ inflation-recession cycle in her truly wacky WaPo advice column. Home buyers, she notes, may see prices drop, though they’ll pay more in mortgage interest — and owners may lose a fortune. You might get more if you sell your used car (huh?). And “student loan forgiveness is coming” (triple-huh?). WaPo is clearly taking cues from the Babylon Bee, which earlier offered “9 Reasons Not To Worry About The Tanking Economy.” Except that was satire.
https://nypost.com/2022/09/29/the-week-in-whoppers-wapos-self-parody-bidens-latest-oops/
ROBERT SHILLER: I don’t like the word crash. It took six years to reach bottom after the 2005 peak. I’d like to talk in real terms. Real housing prices corrected for the CPI. And the peak was actually in December 2005, not 2007, 2008, as we think of. That was a delayed effect. It took six years. It wasn’t until 2012 that home prices started going up again. So these things are very slow, and it’s not like the stock market.
https://www.foxbusiness.com/real-estate/growing-homebuyer-reluctance-bring-down-real-estate-prices-robert-shiller
Home prices decline at rates seen close to a decade ago
Palm Beach Post|9 days ago
As prices continue to decelerate, a 3% or lower year-over-year increase in median prices by December is possible, one expert thinks.
“The market is definitely stabilizing,” says Liz Moore, board president of Real Estate Information Network Inc., the multiple listing service (MLS) for the Hampton Roads region. “We had such a frenzied market during the pandemic.”
“It was so competitive for the last two years that buyers didn’t have much of a chance in a multiple-offer situation,” Moore says. “Now that there’s not quite such an intense frenzy of competition, buyers don’t have to pay such wild prices.”
https://www.virginiabusiness.com/article/a-welcome-respite/
“We’re finding that sellers aren’t selling, buyers have pulled back,” First American Deputy Chief Economist Odeta Kushi told Yahoo Finance (video above). “And that’s resulting in a housing market that’s cooling quite a bit.”
https://www.msn.com/en-us/money/realestate/housing-expert-sellers-aren-e2-80-99t-selling-e2-80-99-as-mortgage-rates-climb/ar-AA12p5MT
Dallas developer loses ownership of Turtle Creek site once anticipated to house Mandarin Oriental hotel, condo tower
The Business Journals|16 hours ago
A real estate developer indicted last week on felony fraud charges has lost control of a high-profile site he’d planned to turn into a high-rise luxury condo tower and hotel in the exclusive Turtle Creek neighborhood in Dallas.
Long before McGough, Lake Highlands began suffering the effects of too many apartments with too little oversight. A 2004 article in a Texas paper called Dallas “one of the nation’s deadliest cities” and focused on the Skillman-Audelia area. It read like “The Wire” and labeled Lake Highlands apartments “killing fields.”
Most people don’t know the difference between so-called market rate apartments and low income apartments, McGough says. They only see a glut of apartments, 17,000 at last count. The Advocate reported last November that five of 10 “eviction hotspots” in all of Dallas County are in 75243.
So it is disingenuous to say Lake Highlands does not do its part to house low-income or workforce residents, McGough says. He and his predecessors have worked with the Apartment Association of Greater Dallas to keep those apartments safe, but it remains an ongoing battle, he says.
As recently as a few months ago, a police spokesperson, referring to the same cluster of apartments at a safety committee session said, “apartment complexes are driving our murders.”
So it is easy to understand why nearby residents are not clamoring for more.
https://lakehighlands.advocatemag.com/2022/09/29/affordable-housing-story/
Singapore has unveiled a package of measures for the property market, including tightening lending limits for housing loans in response to a rise in interest rates, as well as new steps to moderate demand.
The new measures are mainly targeted at the resale public housing market, which had “overheated” this year given high prices across the island, said Christine Sun, senior vice president of research & analytics at OrangeTee & Tie.
Many central banks across the world have increased interest rates recently to fight inflation. In Singapore, bank mortgage interest rates are determined by commercial banks. Three local banks have in recent weeks temporarily removed fixed-rate home loans.
https://www.msn.com/en-us/money/realestate/singapore-tightens-housing-loan-limits-as-rates-rise/ar-AA12qkG6
SoftBank’s Vision Fund Reportedly Cutting 30% Of Staff—Here Are The Major U.S. Layoffs This Year
Forbes|14 hours ago
Forbes is tracking the biggest layoffs in the U.S. this year as companies react to fears of a looming recession.
Potential buyers who find themselves as sole bidders at auctions have recently been bidding against themselves to secure a sale, but is this the best tactic?
Buyer’s agent Claire Corby of Capital Buyers Agency said there were many things to consider if you were the sole bidder at an auction, starting with identifying yourself as one.
From there, Corby said the secret was to keep a cool head, as auctions could be “pressure-cooker environments”.
“You’re going to be very nervous and emotional because. after all, it’s a home that you are considering to live in, which can hijack your brain and your ability to think clearly on the day,” she said.
“If there is only one person registered at an auction, the auctioneer will still be trying to impress the vendors who employed them, as well as any potential buyers that may want to sell in the future in the neighbourhood.
https://www.domain.com.au/news/cbr-canberra-auctions-what-to-know-if-you-are-the-sole-bidder-at-an-auction-1171451/
If yer the only bidder, stop bidding!
Winchester, NH Housing Prices Crater 22% YOY As Soaring Housing Inventory Rots On The Vine Across New England States
https://www.movoto.com/winchester-nh/market-trends/
As a noted economist stated, “You’d have to have rocks in your head to buy a house in the last 15 years.”