It's Friday desk clearing time for this blogger. "About one million homeowners have fallen through…
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From the first 9:20 video:
Housing Bubble in Las Vegas
Ken Blumberg
Oct 10, 2022 In this video, we go over all of the important Las Vegas housing numbers from September, which gives us a strong indication of where the market is headed and it’s not good.
The second 9:17 video:
My Admission of Guilt…Vegas Real Estate Car Confessions.
Kristen Riffle
Oct 10, 2022 Apologies From a previous video!
The third 8:34 video:
Mind blowing ways buyers are winning in today’s housing market – unbelievable tips!
Dallas Texas
Oct 10, 2022 You’re about to see some mind blowing ways buyers are winning in today’s housing market. Despite higher interest rates, these tips will help you get the home you want at a price you can afford. In this video, we’ll share some of the most surprising tips that can help you get a great deal on a new home.
The fourth 9:17 video:
HOUSING MARKET UPDATE | DALLAS | SEPTEMBER 2022
Erick Diaz
Oct 10, 2022 Welcome to the Denton County Market update, In this series I will be updating you on the current state of the Market in Denton County. Also towards the end I will talk about current news regarding the Denton County area.
We cover 5 key topics regarding the market.
1. Average Sales price
2. Days on Market
3 Months supply
4. New listings
5. Closed listings
Keep in mind these are my opinions regarding the market and the links below are where I got the information from.
The fifth 8:23 video:
Ajax Home Prices Collapse in September. Oshawa, Whitby & Pickering All Down.
Vic Singh
Oct 11, 2022 Ajax, Oshawa, Pickering and Whitby market update for September 2022.
How much have house prices dropped by? See prices for detached homes, condos, and townhouses in Durham and compare them to the peak of the real estate market in Durham.
The last 19:34 video:
Toronto Real Estate Doesn’t Make Sense And Here’s Why – Oct 5
Team Sessa Real Estate
Oct 11, 2022
Toronto Real Estate Market Report for the week of Sept 29 – Oct 5, 2022.
“My Admission of Guilt…Vegas Real Estate Car Confessions”
Kristen is really trying to focus, but her synapse just aren’t firing. Will that $6.67 Salted Toffee Latte w/ Coconut milk will help? Stay tuned!
“I know it [double-digit home price declines] sounds really really bad, but the reality is you have to take a longer-term lens on this and have some perspective because those markets saw run-ups of 30%, 40%, 50% plus over the last year or two. So we really compressed into a year or two a decade of home price appreciation. So even if our forecasts are right and prices do decline double-digits in some of these markets over the next few years, we’re only going to be resetting down to what home prices were in 2020 or early 2021,” Palacios tells Fortune.
Home sales in Grey Bruce slumped last month to their lowest levels for September in 22 years.
The Realtors Association of Grey Bruce Owen Sound says 190 homes sold, a sharp decline of 41.4 per cent from the same month last year. Home sales were more than 34 per cent below the five-year and 10-year averages for September.
The realtors association’ says the total dollar value of all home sales in September was $124.5-million, sinking 44.9 per cent from the same month in 2021.
Average home prices in Grey Bruce were just over $655,031, a year-over-year decline of six per cent. It is, however, a slight increase of about 3.5 per cent from August when the average price of homes sold in the region was $632,500.
Home prices are down around 12 per cent since spring. RAGBOS reported in April the average was just over $744,000.
Nearly 6,000 Erie County homeowners get pre-foreclosure notices
Buffalo News|15 hours ago
In the last three months since the last Stay in your Home campaign report, 1,350 homeowners in the county have been issued such notices, for a grand total of 5,880 since Aug. 31, 2021.
With inflation at a high and increased home prices fueled by the pandemic, the latest study from LendingTree revealed it may be difficult for some households to afford necessary expenses, resulting in some falling behind on their mortgage payments and facing foreclosure.
Most American adults are neither living in households behind on their mortgage payments, nor are they facing the threat of foreclosure in the near future. However, nearly 1 million Americans nationwide fear losing their home to foreclosure in the next two months. LendingTree measured relevant data from the Census Bureau to determine just how many Americans 18 and older are at immediate risk of losing their homes to foreclosure.
These trends, which impact municipalities across the state to different degrees, have led to several creative approaches to housing development on the local level. In Chamberlain, the city is giving out free lots in the newly developed Smokey Groves neighborhood , on the condition that a house of at least 1,500 square feet is built on that land within one year.
“We did the math on it and figured out we could sell these lots or we could give them away,” Chamberlain’s City Administrator Mike Lauritsen said. “If you sell the lots, it slows down the process of building, and the lots look a lot more appealing if they’re free.”
Bank of England Governor Andrew Bailey sent shock waves through fragile markets on Tuesday when he issued a rare public ultimatum: the central bank will end its emergency gilt purchases as planned at the end of this week.
The BOE fears its emergency gilt purchases grounds could look like it is bankrolling the government. Anne Sibert, professor of economics at the University of London, described the bank’s position as “outrageous” and said a proper intervention in gilt markets for financial stability reasons “should long ago have been formalized.”
Bailey signaled that the BOE is worried that an extended bail-out with no regulatory strings attached will create “moral hazard,” under which institutions are encouraged to take risky bets because they know they will always be rescued. At the IIF, he pointed out that the non-bank sector, the collection of asset managers and pension funds at the heart of the market chaos, is not sufficiently regulated.
Mortgage Lenders Lay Off More Workers as Loan Activity Dries Up
YAHOO!Finance|15 hours ago
Mortgage firms including Angel Oak and Lower.com have laid off employees after a jump in lending rates to 15-year highs dramatically slowed borrowing.Most Read from BloombergHere’s How Weird Things Are Getting in the Housing MarketIntel Plans Thousands of Job Cuts in Face of PC SlowdownHome Flippers Get Burned by US Housing Market’s Sudden Slump
Finance Company Brex Cuts 136 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.
Collins Community Credit Union lays off 38 employees
The Gazette|15 hours ago
A spokesperson for the Cedar Rapids-based credit union said most of the layoffs came from the company’s mortgage division and that they were prompted by “changing industry market trends.”
From the first 9:20 video:
Housing Bubble in Las Vegas
Ken Blumberg
Oct 10, 2022 In this video, we go over all of the important Las Vegas housing numbers from September, which gives us a strong indication of where the market is headed and it’s not good.
The second 9:17 video:
My Admission of Guilt…Vegas Real Estate Car Confessions.
Kristen Riffle
Oct 10, 2022 Apologies From a previous video!
The third 8:34 video:
Mind blowing ways buyers are winning in today’s housing market – unbelievable tips!
Dallas Texas
Oct 10, 2022 You’re about to see some mind blowing ways buyers are winning in today’s housing market. Despite higher interest rates, these tips will help you get the home you want at a price you can afford. In this video, we’ll share some of the most surprising tips that can help you get a great deal on a new home.
The fourth 9:17 video:
HOUSING MARKET UPDATE | DALLAS | SEPTEMBER 2022
Erick Diaz
Oct 10, 2022 Welcome to the Denton County Market update, In this series I will be updating you on the current state of the Market in Denton County. Also towards the end I will talk about current news regarding the Denton County area.
We cover 5 key topics regarding the market.
1. Average Sales price
2. Days on Market
3 Months supply
4. New listings
5. Closed listings
Keep in mind these are my opinions regarding the market and the links below are where I got the information from.
The fifth 8:23 video:
Ajax Home Prices Collapse in September. Oshawa, Whitby & Pickering All Down.
Vic Singh
Oct 11, 2022 Ajax, Oshawa, Pickering and Whitby market update for September 2022.
How much have house prices dropped by? See prices for detached homes, condos, and townhouses in Durham and compare them to the peak of the real estate market in Durham.
The last 19:34 video:
Toronto Real Estate Doesn’t Make Sense And Here’s Why – Oct 5
Team Sessa Real Estate
Oct 11, 2022
Toronto Real Estate Market Report for the week of Sept 29 – Oct 5, 2022.
“My Admission of Guilt…Vegas Real Estate Car Confessions”
Kristen is really trying to focus, but her synapse just aren’t firing. Will that $6.67 Salted Toffee Latte w/ Coconut milk will help? Stay tuned!
“I know it [double-digit home price declines] sounds really really bad, but the reality is you have to take a longer-term lens on this and have some perspective because those markets saw run-ups of 30%, 40%, 50% plus over the last year or two. So we really compressed into a year or two a decade of home price appreciation. So even if our forecasts are right and prices do decline double-digits in some of these markets over the next few years, we’re only going to be resetting down to what home prices were in 2020 or early 2021,” Palacios tells Fortune.
https://www.msn.com/en-us/money/realestate/home-prices-are-falling-in-these-98-major-housing-markets%E2%80%94only-50-markets-remain-at-the-peak/ar-AA11HxHR
what home prices were in 2020 or early 2021
Already bubblicious.
Home sales in Grey Bruce slumped last month to their lowest levels for September in 22 years.
The Realtors Association of Grey Bruce Owen Sound says 190 homes sold, a sharp decline of 41.4 per cent from the same month last year. Home sales were more than 34 per cent below the five-year and 10-year averages for September.
The realtors association’ says the total dollar value of all home sales in September was $124.5-million, sinking 44.9 per cent from the same month in 2021.
Average home prices in Grey Bruce were just over $655,031, a year-over-year decline of six per cent. It is, however, a slight increase of about 3.5 per cent from August when the average price of homes sold in the region was $632,500.
Home prices are down around 12 per cent since spring. RAGBOS reported in April the average was just over $744,000.
https://www.bayshorebroadcasting.ca/2022/10/11/real-estate-slump-continues-in-grey-bruce-in-september/
Nearly 6,000 Erie County homeowners get pre-foreclosure notices
Buffalo News|15 hours ago
In the last three months since the last Stay in your Home campaign report, 1,350 homeowners in the county have been issued such notices, for a grand total of 5,880 since Aug. 31, 2021.
With inflation at a high and increased home prices fueled by the pandemic, the latest study from LendingTree revealed it may be difficult for some households to afford necessary expenses, resulting in some falling behind on their mortgage payments and facing foreclosure.
Most American adults are neither living in households behind on their mortgage payments, nor are they facing the threat of foreclosure in the near future. However, nearly 1 million Americans nationwide fear losing their home to foreclosure in the next two months. LendingTree measured relevant data from the Census Bureau to determine just how many Americans 18 and older are at immediate risk of losing their homes to foreclosure.
https://dsnews.com/news/10-11-2022/nearly-a-million-americans
These trends, which impact municipalities across the state to different degrees, have led to several creative approaches to housing development on the local level. In Chamberlain, the city is giving out free lots in the newly developed Smokey Groves neighborhood , on the condition that a house of at least 1,500 square feet is built on that land within one year.
“We did the math on it and figured out we could sell these lots or we could give them away,” Chamberlain’s City Administrator Mike Lauritsen said. “If you sell the lots, it slows down the process of building, and the lots look a lot more appealing if they’re free.”
https://www.inforum.com/news/south-dakota/rising-mortgage-rates-exacerbate-housing-challenges-across-south-dakota
We did the math on it
When you start with a zero, maths don’t have to be done.
Intel cutting thousands of jobs amid chip slump
The company’s shares have fallen more than 50% in 2022, with a 20% plunge occurring in the last month alone.
https://mybroadband.co.za/news/business/464113-intel-cutting-thousands-of-jobs-amid-chip-slump.html
Bank of England Governor Andrew Bailey sent shock waves through fragile markets on Tuesday when he issued a rare public ultimatum: the central bank will end its emergency gilt purchases as planned at the end of this week.
The BOE fears its emergency gilt purchases grounds could look like it is bankrolling the government. Anne Sibert, professor of economics at the University of London, described the bank’s position as “outrageous” and said a proper intervention in gilt markets for financial stability reasons “should long ago have been formalized.”
Bailey signaled that the BOE is worried that an extended bail-out with no regulatory strings attached will create “moral hazard,” under which institutions are encouraged to take risky bets because they know they will always be rescued. At the IIF, he pointed out that the non-bank sector, the collection of asset managers and pension funds at the heart of the market chaos, is not sufficiently regulated.
https://finance.yahoo.com/news/bailey-credibility-line-amid-pension-085614885.html
is not sufficiently regulated
That’s all you’ve got?
Mortgage Lenders Lay Off More Workers as Loan Activity Dries Up
YAHOO!Finance|15 hours ago
Mortgage firms including Angel Oak and Lower.com have laid off employees after a jump in lending rates to 15-year highs dramatically slowed borrowing.Most Read from BloombergHere’s How Weird Things Are Getting in the Housing MarketIntel Plans Thousands of Job Cuts in Face of PC SlowdownHome Flippers Get Burned by US Housing Market’s Sudden Slump
Finance Company Brex Cuts 136 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.
Collins Community Credit Union lays off 38 employees
The Gazette|15 hours ago
A spokesperson for the Cedar Rapids-based credit union said most of the layoffs came from the company’s mortgage division and that they were prompted by “changing industry market trends.”