A report from CBC News in Canada. "Chris Drinkwalter's newly-renovated condo in southeast Edmonton has…
This Post Has 8 Comments
From the first 15 minute video:
Are Home Prices Still Dropping In Brampton, Mississauga & Durham Real Estate? – Oct 5
Team Sessa Real Estate
Oct 12, 2022
Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Sept 29 – Oct 5, 2022.
The second 10:40 video:
Are We Headed To A REAL Market Crash?
KC McKeown – Dallas & Fort Worth
Premiered Oct 12, 2022 Interest rates continue to climb and most markets are experiencing a significant growth in inventory compared to just 3-4 months ago. With the Fed continuing to raise rates to combat inflation and buyers no longer looking to purchase – will we see another 2008 all over again?
The third 8 minute video:
New Homes STOP in San Antonio
San Antonio Suburbs – Tre Serrano
Oct 12, 2022 Building permits are down, production of new homes in areas has stopped, there are double the amount of homes for sale. Here is the issues the people of San Antonio are facing.
The fourth 11:41 video:
Where to next? What’s ahead for real estate investors and the market…
Ken McElroy
Oct 12, 2022 Join Ken as he talks with Elisa Zhang about the current market conditions for real estate investors, and the outlook for the next 6 months. Elisa is the principal for a multifamily real estate portfolio of $650M+ in holdings across 3,000+ apartment units within TX, AZ, and WA. Be sure to watch the video for great insight from these two active investors!
.
The fifth 6 minute video:
October 2022 San Diego’s Housing Market Update
Willem De Ridder
Oct 12, 2022 Q3 San Diego’s Market Update
The sixth 12 minute video:
Shifting Real Estate Market in the Tampa Bay Area, What Does it Mean for Buyers and Sellers?
Oct 12, 2022 The real estate market is evolving as we move through the final quarter of 2022. Interest rates continue to eat into housing affordability for buyers. Sellers find their homes sitting on the market for weeks and even months. The rental market is loosening up. It is obvious that new market realities are taking shape.
However, I do NOT foresee a real estate armageddon on the horizon. This is the time to be watchful and strategic, careful and calculated. It is not the time for panic.
Let’s take a deep dive on a property case study to talk about the changes taking place in Tampa Bay real estate. This is my professional analysis on a home I previewed for a client, and a discussion about the property’s value and position in the new market we have today.
The seventh 7 minute video:
Houston Home Prices TANK! Should Buyers RUN?!?!?
Oct 12, 2022 The media has hyped up the fact that buyers are fleeing the market. Does the data support it? I’ll break down the numbers and give you the facts…not hyped up fiction.
The last 6 minute video:
Fall Real Estate market update 2022-Concord, MA
Tom Matthews
Oct 13, 2022
Hot off the press! Joanne Taranto and I are providing a real estate market update and recapping the current position as we enter the fourth quarter of 2022. Buyers and sellers must be mindful that just 6-10 months ago the mortgage interest rates were at 3% and the real estate market was on fire. If you have owned your home for 20 years, this time span is a drop in the bucket, but because of the Federal Reserve’s intervention the time shift is monumental. Never in 18 years have we seen the cost of capital double in less than 12 months! The real estate market turns like an Aircraft Carrier which takes 19 miles to turn around. We are turning but we are not crashing and there remains tremendous opportunity for both sellers and buyers, but who you entrust with your real estate needs has never been so important as it is now! We are actively interviewing new sellers and buyers!
After two years of an aggressive seller’s market, the residential real estate market in Lake Travis-Westlake, as well as the Greater Austin area, may finally be stabilizing, according to several real estate experts in the market.
Inventory alone, a key signal of market stability, has increased sharply in the last six months, and year-over-year data from the Austin Board of Realtors shows inventory in Lake Travis-Westlake has increased from 1.1 months in May to 3.3 months in August. For the Greater Austin and Round Rock metropolitan area, monthly inventory increased year-over-year from 2 months to 2.9 months.
“This is the most inventory we’ve had since 2018,” said Michelle Jones, an associate broker for Grossman & Jones Group. “Starting around June or July, things started to settle down. It’s a much better time for buyers to be in the market.”
“These numbers are a breath of fresh air for a housing market that has been holding its breath,” ABoR President Cord Shiflet said in the June Central Texas Market Housing report. “The trajectory of our market over the last two years was unsustainable, and it was in no way going to last.”
There were approximately 92,634 U.S. properties with foreclosure filings from July through September, including default notices, scheduled auctions or bank repossessions, according to ATTOM’s Foreclosure Market Report. That’s up 3% from the previous three months and up more than 100% from a year ago, according to the data.
Lenders started the foreclosure process on more than 67,200 U.S. properties throughout the three months, up 1% from the previous quarter and up 167% from a year ago, which is nearly reaching pre-pandemic levels, according to ATTOM.
In metro Denver, home prices would need to fall 29% to return affordability to levels seen before the pandemic, according to Zillow. While such a large decline is unlikely, homeowners should prepare mentally for lower valuations.
“We are in for price corrections in a lot of markets,” said Chris Birk, vice president of mortgage insight at Veterans United Home Loans.
Declines will depend on how much home prices have risen the past two years, as well as the severity of any economic downturn. Birk predicts that corrections of 10% to 15% from the peak prices aren’t out of the question, and closer to 20% if there is a full-blown recession.
The Vineyard migrants’ numbers — fewer than 50 — represented a mere drop in the bucket when compared to a surge of thousands of migrants who have reached the Boston area in recent months. Their arrival is overwhelming the resources of local aid groups and prompting calls for more resources to handle the influx.
“The system is strained,” said Jeff Thielman, CEO of the International Institute of New England, which serves newly arrived migrants in Greater Boston.
The new migrants, by and large, have come to the state after crossing the border in Texas and then bouncing between detention centers, shelters run by nonprofits, or friends’ living rooms throughout the country. They have left their homes in Haiti, Central America, and, increasingly, Colombia, Venezuela, and Peru, driven out by violence, political instability, and a lack of work.
They turn up at Logan Airport, South Station, emergency rooms, the front stoops of churches, and the packed waiting rooms of nonprofits looking for a meal, a place to sleep, and help with immigration paperwork.
Gladys Vega, executive director of La Colaborativa, which helps Latin American migrants settle in Chelsea, said that in the past three months a “wave” of South American migrants has forced her organization to make difficult choices about how to allocate limited resources.
“How do I give priority to this new group when I already have 800 people waiting for affordable housing?” Vega said.
While state and local officials do not have definitive numbers, reports from some aid groups are startling. One Mattapan nonprofit, the Immigrant Family Services Institute, which serves mostly Haitians, performed approximately 5,200 intakes from April through September. That figure represents a more than sixfold increase compared to the first half of last year.
Pacaso lays off 100 workers over worries of a pending recession
The Real Deal|20 hours ago
Laid-off workers will be given a severance, health care coverage and career help, Allison told employees during an all-hands conference call. “Like any business in this environment, Pacaso must make proactive changes to ensure that our expenses align with revenue,
Hard Landing: Startup’s former employees allege cost-cutting play
The Real Deal|16 hours ago
Furnished-apartment rental company Landing laid off 110 employees, which some alleged would be replaced with employees in Mexico.
From the first 15 minute video:
Are Home Prices Still Dropping In Brampton, Mississauga & Durham Real Estate? – Oct 5
Team Sessa Real Estate
Oct 12, 2022
Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Sept 29 – Oct 5, 2022.
The second 10:40 video:
Are We Headed To A REAL Market Crash?
KC McKeown – Dallas & Fort Worth
Premiered Oct 12, 2022 Interest rates continue to climb and most markets are experiencing a significant growth in inventory compared to just 3-4 months ago. With the Fed continuing to raise rates to combat inflation and buyers no longer looking to purchase – will we see another 2008 all over again?
The third 8 minute video:
New Homes STOP in San Antonio
San Antonio Suburbs – Tre Serrano
Oct 12, 2022 Building permits are down, production of new homes in areas has stopped, there are double the amount of homes for sale. Here is the issues the people of San Antonio are facing.
The fourth 11:41 video:
Where to next? What’s ahead for real estate investors and the market…
Ken McElroy
Oct 12, 2022 Join Ken as he talks with Elisa Zhang about the current market conditions for real estate investors, and the outlook for the next 6 months. Elisa is the principal for a multifamily real estate portfolio of $650M+ in holdings across 3,000+ apartment units within TX, AZ, and WA. Be sure to watch the video for great insight from these two active investors!
.
The fifth 6 minute video:
October 2022 San Diego’s Housing Market Update
Willem De Ridder
Oct 12, 2022 Q3 San Diego’s Market Update
The sixth 12 minute video:
Shifting Real Estate Market in the Tampa Bay Area, What Does it Mean for Buyers and Sellers?
Oct 12, 2022 The real estate market is evolving as we move through the final quarter of 2022. Interest rates continue to eat into housing affordability for buyers. Sellers find their homes sitting on the market for weeks and even months. The rental market is loosening up. It is obvious that new market realities are taking shape.
However, I do NOT foresee a real estate armageddon on the horizon. This is the time to be watchful and strategic, careful and calculated. It is not the time for panic.
Let’s take a deep dive on a property case study to talk about the changes taking place in Tampa Bay real estate. This is my professional analysis on a home I previewed for a client, and a discussion about the property’s value and position in the new market we have today.
The seventh 7 minute video:
Houston Home Prices TANK! Should Buyers RUN?!?!?
Oct 12, 2022 The media has hyped up the fact that buyers are fleeing the market. Does the data support it? I’ll break down the numbers and give you the facts…not hyped up fiction.
The last 6 minute video:
Fall Real Estate market update 2022-Concord, MA
Tom Matthews
Oct 13, 2022
Hot off the press! Joanne Taranto and I are providing a real estate market update and recapping the current position as we enter the fourth quarter of 2022. Buyers and sellers must be mindful that just 6-10 months ago the mortgage interest rates were at 3% and the real estate market was on fire. If you have owned your home for 20 years, this time span is a drop in the bucket, but because of the Federal Reserve’s intervention the time shift is monumental. Never in 18 years have we seen the cost of capital double in less than 12 months! The real estate market turns like an Aircraft Carrier which takes 19 miles to turn around. We are turning but we are not crashing and there remains tremendous opportunity for both sellers and buyers, but who you entrust with your real estate needs has never been so important as it is now! We are actively interviewing new sellers and buyers!
After two years of an aggressive seller’s market, the residential real estate market in Lake Travis-Westlake, as well as the Greater Austin area, may finally be stabilizing, according to several real estate experts in the market.
Inventory alone, a key signal of market stability, has increased sharply in the last six months, and year-over-year data from the Austin Board of Realtors shows inventory in Lake Travis-Westlake has increased from 1.1 months in May to 3.3 months in August. For the Greater Austin and Round Rock metropolitan area, monthly inventory increased year-over-year from 2 months to 2.9 months.
“This is the most inventory we’ve had since 2018,” said Michelle Jones, an associate broker for Grossman & Jones Group. “Starting around June or July, things started to settle down. It’s a much better time for buyers to be in the market.”
“These numbers are a breath of fresh air for a housing market that has been holding its breath,” ABoR President Cord Shiflet said in the June Central Texas Market Housing report. “The trajectory of our market over the last two years was unsustainable, and it was in no way going to last.”
https://communityimpact.com/austin/lake-travis-westlake/housing-real-estate/2022/10/13/lake-travis-westlake-area-trending-toward-a-balanced-housing-market/
There were approximately 92,634 U.S. properties with foreclosure filings from July through September, including default notices, scheduled auctions or bank repossessions, according to ATTOM’s Foreclosure Market Report. That’s up 3% from the previous three months and up more than 100% from a year ago, according to the data.
Lenders started the foreclosure process on more than 67,200 U.S. properties throughout the three months, up 1% from the previous quarter and up 167% from a year ago, which is nearly reaching pre-pandemic levels, according to ATTOM.
https://www.foxbusiness.com/lifestyle/foreclosure-activity-increases-united-states
In metro Denver, home prices would need to fall 29% to return affordability to levels seen before the pandemic, according to Zillow. While such a large decline is unlikely, homeowners should prepare mentally for lower valuations.
“We are in for price corrections in a lot of markets,” said Chris Birk, vice president of mortgage insight at Veterans United Home Loans.
Declines will depend on how much home prices have risen the past two years, as well as the severity of any economic downturn. Birk predicts that corrections of 10% to 15% from the peak prices aren’t out of the question, and closer to 20% if there is a full-blown recession.
https://www.msn.com/en-us/money/realestate/housing-markets-tumbling-a-signal-that-a-wider-recession-is-coming/ar-AA12UJAu
The Vineyard migrants’ numbers — fewer than 50 — represented a mere drop in the bucket when compared to a surge of thousands of migrants who have reached the Boston area in recent months. Their arrival is overwhelming the resources of local aid groups and prompting calls for more resources to handle the influx.
“The system is strained,” said Jeff Thielman, CEO of the International Institute of New England, which serves newly arrived migrants in Greater Boston.
The new migrants, by and large, have come to the state after crossing the border in Texas and then bouncing between detention centers, shelters run by nonprofits, or friends’ living rooms throughout the country. They have left their homes in Haiti, Central America, and, increasingly, Colombia, Venezuela, and Peru, driven out by violence, political instability, and a lack of work.
They turn up at Logan Airport, South Station, emergency rooms, the front stoops of churches, and the packed waiting rooms of nonprofits looking for a meal, a place to sleep, and help with immigration paperwork.
Gladys Vega, executive director of La Colaborativa, which helps Latin American migrants settle in Chelsea, said that in the past three months a “wave” of South American migrants has forced her organization to make difficult choices about how to allocate limited resources.
“How do I give priority to this new group when I already have 800 people waiting for affordable housing?” Vega said.
While state and local officials do not have definitive numbers, reports from some aid groups are startling. One Mattapan nonprofit, the Immigrant Family Services Institute, which serves mostly Haitians, performed approximately 5,200 intakes from April through September. That figure represents a more than sixfold increase compared to the first half of last year.
https://www.msn.com/en-us/news/world/e2-80-98the-system-is-strained-e2-80-99-thousands-of-migrants-surge-into-greater-boston-stressing-local-support-networks/ar-AA12VUAU
Pacaso lays off 100 workers over worries of a pending recession
The Real Deal|20 hours ago
Laid-off workers will be given a severance, health care coverage and career help, Allison told employees during an all-hands conference call. “Like any business in this environment, Pacaso must make proactive changes to ensure that our expenses align with revenue,
Hard Landing: Startup’s former employees allege cost-cutting play
The Real Deal|16 hours ago
Furnished-apartment rental company Landing laid off 110 employees, which some alleged would be replaced with employees in Mexico.
Carmax to Lose $75,000,000
https://www.youtube.com/watch?v=xoMmq5_ZuPU
*w/Lucky Lopez, 12-min, 23-sec
watched this yesterday. well worth a watch. Veddy interdasting.