A report from KOLD in Arizona. "The stock market dropped more than a 1,000 points…
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From the first 2:36 video:
Rising Interest Rates and West Murrieta Real Estate
Katherine Materiale
Oct 19, 2022 What do the rising interest rates mean for the West Murrieta real estate market?
The second 2:39 video:
Austin Texas Real Estate | 5 Reasons Why You Should Buy Right Now!
Dena Davis Team
Oct 19, 2022
The last 2:34 video:
Home Sales AND Listing Volume Fall in September, 2022 Portland Real Estate Market Update
Oct 19, 2022 After surging earlier in the year, home prices have fallen over the past few months as have the number of new listings coming onto the market and the number of sales, in comparison with the averages for September during 2015-2021.
00:00 Introduction
00:12 Time to sell has increased but is still relatively quick.
00:55 Prices surged during the first half of the year but have fallen.
01:20 The main story is that there are fewer listings coming onto the market and fewer sales than normal.
Larry the Cat
@Number10cat
“The King has asked me to become Prime Minister because this nonsense has gone on long enough.”
South Florida home sales plummet over 25%
The Business Journals|13 hours ago
Buyers hit the brakes on the housing market in South Florida, with a sharp decline in home and condo sales in September, according to data from the Florida Realtors. Single-family home sales in the tri-county region plummeted 26.
New York City had 88,830 vacant rent-stabilized apartments in 2021, according to figures from the city’s Department of Housing Preservation and Development, nearly 30,000 more than previously disclosed figures from New York state, The City reports.
The city has approximately 1 million rent-stabilized units, according to HPD data, meaning that almost 1 in 10 rent-stabilized apartments was vacant last year.
HPD’s total tally includes almost 43,000 units that the agency’s report considers “unavailable,” Chief Research Officer Lyz Gaumer told The City, in addition to tens of thousands designated as “available for rent” by the Census Bureau. She added the figures are “a very conservative estimate of the entire warehoused apartment universe.”
The total number includes apartments on the market, in addition to livable apartments that landlords are keeping off the market, Gaumer said.
What a difference a year has made in the housing market.
Toward the end of 2021, homebuilder exchange-traded funds and stocks were at all-time highs, as favorable interest rates, low housing inventories and COVID-19-fueled demand charged the market. Ten months later, the situation has reversed.
A doubling of mortgage rates, thanks to the Federal Reserve’s five interest rate hikes so far this year, has sent home loan demand into a tailspin. Demand for mortgages hit a 25-year low this month, according to the Mortgage Bankers Association. The spike in mortgage costs as inflation surges and the stock market wallows in bear territory suggests the housing market is set for a major cooldown.
Indeed, home prices fell at the fastest rate in their history in July from the previous month, according to S&P CoreLogic Case-Shiller Indices. While July prices were still higher year over year, the immediate picture appears to be turning grimmer. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), which measures homebuilder sentiment, is now at 38, its lowest level since 2012, and less than half its level in April.
Canadian home prices tumbled in September from August, posting the largest monthly decline since the index was launched in 1999, while year-over-year price gains continued to slow, Teranet–National Bank National Composite House Price data showed on Thursday.
The index, which tracks repeat sales of single-family homes in major Canadian markets, showed prices dropped a record 3.1 per cent in September from August, led by sharp declines in Toronto and Hamilton, Ontario.
The major market index is now 7.0 per cent below the May peak, with Hamilton down 13.5 per cent and Toronto down 11.1 per cent.
Elon Musk could be set to slash Twitter’s headcount drastically once his $44 billion deal for the social network goes through.
The mega-billionaire has told potential investors in the Twitter deal that he plans to lay off almost 75% the company’s staff, or about 5,500 employees, to reduce the size of its workforce from 7,500 to just over 2,000.
Twitter management had planned to cut its payroll by $800 million by the end of 2023, representing a 25% reduction in headcount. As such, Musk’s $44 billion acquisition is a “golden ticket for the struggling company,” according to the Post article, “potentially helping its leadership avoid painful announcements that would have demoralized the staff and possibly crippled the service’s ability to combat misinformation, hate speech and spam.”
The good thing about WFH is that you don’t have to endure the indignity of walking through the office and out the front door with a box holding your desk goodies. After the Berlin Wall fell, I can still remember my girlfriend’s car pulling into the driveway at about 1030 in the morning and her alligator tears.
Daniel Ahn, a former chief economist at the U.S. State Department, says the countries sanctioning Russia overestimated their control of the global oil trade and that changes and clarifications to their policy aimed at reducing self-harm.
“All it’s going to do is reroute oil … and make life difficult for everyone else, which is what is happening right now anyway,” said Ahn, a global fellow at the Woodrow Wilson International Center for Scholars. “It’s going to be less damaging than a complete seaborne import ban. They shot themselves in the foot, but they’re now kind of trying to bandage it a bit.”
Home rental startup Zeus Living to make job cuts at Dogpatch headquarters
The Business Journals|13 hours ago
San Francisco home rental startup Zeus Living plans to cut its global workforce nearly in half this winter, the company confirmed on Thursday, becoming the latest startup to adjust to a tightened capital market and increased pressure to become profitable.
“San Francisco home rental startup Zeus Living…”
Does the CEO also have a swan costume?
becoming the latest startup to adjust to a tightened capital market and increased pressure to become profitable.
How is it possible for becoming profitable to not be the main goal.
I mean it is not like they have 1st mover advantage in the growth portion.
In Los Angeles, Politics Prove More Complex Than a Racist Conversation
Voter participation in the 9th District is low, and some residents said that they pay little attention to city politics, despite their daily concerns with crime and homelessness. Hustling her 8-year-old son home from school in South Los Angeles, Maria Robles, 30, wondered what local politicians would do to solve problems.
“I don’t vote — I just don’t,” she said. “I don’t believe any politicians are really representing Latinos. They’re not standing up for us.”
if voting could really change things, they wouldn’t let you do it.
That’s what Hillary thought until DJT skooled her.
Los Angeles City Councilmember Kevin De León said Wednesday that he will not resign following leaked audio of an incendiary closed-door conversation that he took part in — a position that drew an immediate outcry from some City Hall colleagues who have called for his removal.
After remaining silent for more than a week, De León gave two television interviews during which he repeatedly apologized for his role in a discussion last year where racist and demeaning language was used.
De León said he intended to stay in office to help his downtown and Eastside district and that his constituents “deserve representation.”
“No, I will not resign, because there is a lot of work ahead,” De León said in an interview with Noticiero Univision, describing the problems of COVID, homelessness, and rental evictions in the district.
In a separate interview on KCAL-TV Channel 9. the politician said the city needs to “heal” from the hurt caused by the racist remarks and that he wants to be a part of that process.
The back-to-back media appearances signaled that De León, an activist turned state lawmaker who was elected to the City Council in 2020, will fight to save his $229,000-a-year job and salvage his reputation.
The last straw for Tim Ratcliff came when he was sitting down to eat lunch with his girlfriend outside his own restaurant a block away from the Hollywood Walk of Fame.
“Right as I sat down, I looked over, and a homeless man had come over, and he sucker-punched a 64-year-old man in the head. Knocked him over,” Ratcliff told a local television station. “You crossed the line. This was too far,” he remembers thinking before he got up from his table, chased down the attacker, and pinned him for almost 15 minutes before police finally arrived.
Ratcliff says he has noticed a significant increase in crime since the Los Angeles Police Department started losing officers, and he desperately wishes there were more law enforcement around Hollywood. “We’re having to deal with it,” Ratcliff said.
Think about this situation: this bum probably committed this senseless violence against a white or asian person. So we got a couple of groups of highly paid politicians that are knuckle dragging racists, you got out of control racist bums by the tens of thousands, and throw in a horde of drugged out zombies staggering around with needles in their arms taking a sh$t where ever they like.
A million pesos gets you some beaten up old shack in a neighborhood you’ll wish you never visited. You got a guvnah who drinks 16K worth of booze (paid for by a corrupt donor) without a mask, telling everyone else they have to spend thanksgiving alone, inject an experimental gene altering drug in yer kids blood system or they can’t go to school (that you paid for BTW)- and forget church, that right out.
Where do I sign up?
+1 great post.
Awesome truth.
“It is unfortunate that crime had to get so bad before people realized how essential police are to maintaining law and order. Law enforcement is never perfect — they are humans, after all — but hopefully, the next time an officer messes up, the Left won’t overreact again and send our nation’s cities into chaos.”
George Floyd’s respiratory system slowed to a stop due to a Fentanyl laced suppository that he inserted into his rectum prior to passing counterfeit currency to local merchants, and then deciding to engage in a physical altercation with arresting officers.
The ensuing riots around the country were the Democrats using Antifa to agitate and foment civil unrest until after the Biden’s inaugural address.
Denver Public Schools is set to shut down a number of middle and elementary schools because low enrollment numbers are slashing millions in district funding.
“We’re anticipating over the next four years to see another 3,000 student drop just because of the way that the community is growing and changing right now,” DPS Director of External Communications Scott Pribble said. “Three thousand students does not seem like a lot of students but when you look at a per pupil amount of money that we receive, that’s about $36 million that our budget will be short over the next three years.”
The district said equity guardrails are part of the equation with providing access and promoting equity being two of them.
BTW they are renaming the 14,000 foot mountain Mt Evans, because muh racisms.
Yep, cancel culture.
“to see another 3,000 student drop just because of the way that the community is growing ”
talk about new speak. Losing 3000 students cuz the community is “growing”. oh, ok
KeyBank reducing mortgage center jobs amid rising interest rates
Buffalo News|15 hours ago
KeyBank is cutting an undisclosed number of positions at its mortgage operations hub in Amherst, as rising interest rates take a toll on mortgage applications. KeyBank officials declined to say how many employees at the Ridge Lea Road center were affected by cuts put in place after the bank’s consumer mortgage business shrunk by 40% during the third quarter.
Ally Financial takes a big hit on Better.com investment
HousingWire|13 hours ago
Online bank Ally Financial recorded a $136 million impairment related to its investment in struggling digital mortgage lender Better.com.
Culling with kindness – the right way to about making redundancies in the tech sector
Diginomica|2 hours ago
Although mass layoffs in the tech sector, particularly over the summer months, may appear to be easing somewhat – although Microsoft’s latest round of cuts bumps up the tally – the looming prospect of a global recession could well mean that more pain is on its way.
Fitch downgrades two nonbank lenders, sets negative outlook for four
HousingWire|18 hours ago
Fitch ratings revised its credit ratings for Finance of America, Freedom Mortgage, Provident Funding, Home Point Capital and UWM. Here’s the outlook for the nonbanks.
Warning signs: Hiring in WA may be at a tipping point
Seattle Times|10 hours ago
But there are growing signs — with lower hiring in tech, education and construction — that Washington’s job market could be, as one economist puts it, “at the top of the roller coaster, about to plummet.
Inside the Scottish rehab centre treating cryptocurrency addicts: ‘I lost £5,000 in a day’
i|5 hours ago
The currency’s volatile nature can make it very appealing to those with addictive dispositions. Castle Craig Rehab received its first crypto patient in 2016 and has now seen over 200
From the first 2:36 video:
Rising Interest Rates and West Murrieta Real Estate
Katherine Materiale
Oct 19, 2022 What do the rising interest rates mean for the West Murrieta real estate market?
The second 2:39 video:
Austin Texas Real Estate | 5 Reasons Why You Should Buy Right Now!
Dena Davis Team
Oct 19, 2022
The last 2:34 video:
Home Sales AND Listing Volume Fall in September, 2022 Portland Real Estate Market Update
Oct 19, 2022 After surging earlier in the year, home prices have fallen over the past few months as have the number of new listings coming onto the market and the number of sales, in comparison with the averages for September during 2015-2021.
00:00 Introduction
00:12 Time to sell has increased but is still relatively quick.
00:55 Prices surged during the first half of the year but have fallen.
01:20 The main story is that there are fewer listings coming onto the market and fewer sales than normal.
Larry the Cat
@Number10cat
“The King has asked me to become Prime Minister because this nonsense has gone on long enough.”
https://twitter.com/Number10cat/status/1583072541677002752
South Florida home sales plummet over 25%
The Business Journals|13 hours ago
Buyers hit the brakes on the housing market in South Florida, with a sharp decline in home and condo sales in September, according to data from the Florida Realtors. Single-family home sales in the tri-county region plummeted 26.
New York City had 88,830 vacant rent-stabilized apartments in 2021, according to figures from the city’s Department of Housing Preservation and Development, nearly 30,000 more than previously disclosed figures from New York state, The City reports.
The city has approximately 1 million rent-stabilized units, according to HPD data, meaning that almost 1 in 10 rent-stabilized apartments was vacant last year.
HPD’s total tally includes almost 43,000 units that the agency’s report considers “unavailable,” Chief Research Officer Lyz Gaumer told The City, in addition to tens of thousands designated as “available for rent” by the Census Bureau. She added the figures are “a very conservative estimate of the entire warehoused apartment universe.”
The total number includes apartments on the market, in addition to livable apartments that landlords are keeping off the market, Gaumer said.
https://www.bisnow.com/new-york/news/multifamily/almost-1-in-10-nyc-rent-stabilized-apartments-were-vacant-in-2021-115952
What a difference a year has made in the housing market.
Toward the end of 2021, homebuilder exchange-traded funds and stocks were at all-time highs, as favorable interest rates, low housing inventories and COVID-19-fueled demand charged the market. Ten months later, the situation has reversed.
A doubling of mortgage rates, thanks to the Federal Reserve’s five interest rate hikes so far this year, has sent home loan demand into a tailspin. Demand for mortgages hit a 25-year low this month, according to the Mortgage Bankers Association. The spike in mortgage costs as inflation surges and the stock market wallows in bear territory suggests the housing market is set for a major cooldown.
Indeed, home prices fell at the fastest rate in their history in July from the previous month, according to S&P CoreLogic Case-Shiller Indices. While July prices were still higher year over year, the immediate picture appears to be turning grimmer. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), which measures homebuilder sentiment, is now at 38, its lowest level since 2012, and less than half its level in April.
https://finance.yahoo.com/news/housing-downturn-making-itself-felt-161500880.html
Canadian home prices tumbled in September from August, posting the largest monthly decline since the index was launched in 1999, while year-over-year price gains continued to slow, Teranet–National Bank National Composite House Price data showed on Thursday.
The index, which tracks repeat sales of single-family homes in major Canadian markets, showed prices dropped a record 3.1 per cent in September from August, led by sharp declines in Toronto and Hamilton, Ontario.
The major market index is now 7.0 per cent below the May peak, with Hamilton down 13.5 per cent and Toronto down 11.1 per cent.
https://www.theglobeandmail.com/business/economy/article-canadian-home-prices-tumble-in-september-posting-largest-monthly-drop/
Elon Musk could be set to slash Twitter’s headcount drastically once his $44 billion deal for the social network goes through.
The mega-billionaire has told potential investors in the Twitter deal that he plans to lay off almost 75% the company’s staff, or about 5,500 employees, to reduce the size of its workforce from 7,500 to just over 2,000.
Twitter management had planned to cut its payroll by $800 million by the end of 2023, representing a 25% reduction in headcount. As such, Musk’s $44 billion acquisition is a “golden ticket for the struggling company,” according to the Post article, “potentially helping its leadership avoid painful announcements that would have demoralized the staff and possibly crippled the service’s ability to combat misinformation, hate speech and spam.”
https://www.msn.com/en-us/autos/news/elon-musk-plans-to-lay-off-nearly-75-25-of-twitter-employees-or-5500-staffers-report/ar-AA13cupr
The good thing about WFH is that you don’t have to endure the indignity of walking through the office and out the front door with a box holding your desk goodies. After the Berlin Wall fell, I can still remember my girlfriend’s car pulling into the driveway at about 1030 in the morning and her alligator tears.
Daniel Ahn, a former chief economist at the U.S. State Department, says the countries sanctioning Russia overestimated their control of the global oil trade and that changes and clarifications to their policy aimed at reducing self-harm.
“All it’s going to do is reroute oil … and make life difficult for everyone else, which is what is happening right now anyway,” said Ahn, a global fellow at the Woodrow Wilson International Center for Scholars. “It’s going to be less damaging than a complete seaborne import ban. They shot themselves in the foot, but they’re now kind of trying to bandage it a bit.”
https://www.msn.com/en-ca/money/topstories/russia-poised-to-largely-skirt-new-g7-oil-price-cap/ar-AA13dg3y
Home rental startup Zeus Living to make job cuts at Dogpatch headquarters
The Business Journals|13 hours ago
San Francisco home rental startup Zeus Living plans to cut its global workforce nearly in half this winter, the company confirmed on Thursday, becoming the latest startup to adjust to a tightened capital market and increased pressure to become profitable.
“San Francisco home rental startup Zeus Living…”
Does the CEO also have a swan costume?
becoming the latest startup to adjust to a tightened capital market and increased pressure to become profitable.
How is it possible for becoming profitable to not be the main goal.
I mean it is not like they have 1st mover advantage in the growth portion.
In Los Angeles, Politics Prove More Complex Than a Racist Conversation
Voter participation in the 9th District is low, and some residents said that they pay little attention to city politics, despite their daily concerns with crime and homelessness. Hustling her 8-year-old son home from school in South Los Angeles, Maria Robles, 30, wondered what local politicians would do to solve problems.
“I don’t vote — I just don’t,” she said. “I don’t believe any politicians are really representing Latinos. They’re not standing up for us.”
https://ca.news.yahoo.com/los-angeles-politics-prove-more-182621909.html
if voting could really change things, they wouldn’t let you do it.
That’s what Hillary thought until DJT skooled her.
Los Angeles City Councilmember Kevin De León said Wednesday that he will not resign following leaked audio of an incendiary closed-door conversation that he took part in — a position that drew an immediate outcry from some City Hall colleagues who have called for his removal.
After remaining silent for more than a week, De León gave two television interviews during which he repeatedly apologized for his role in a discussion last year where racist and demeaning language was used.
De León said he intended to stay in office to help his downtown and Eastside district and that his constituents “deserve representation.”
“No, I will not resign, because there is a lot of work ahead,” De León said in an interview with Noticiero Univision, describing the problems of COVID, homelessness, and rental evictions in the district.
In a separate interview on KCAL-TV Channel 9. the politician said the city needs to “heal” from the hurt caused by the racist remarks and that he wants to be a part of that process.
The back-to-back media appearances signaled that De León, an activist turned state lawmaker who was elected to the City Council in 2020, will fight to save his $229,000-a-year job and salvage his reputation.
https://www.latimes.com/california/story/2022-10-19/kevin-de-leon-no-im-not-resigning
The last straw for Tim Ratcliff came when he was sitting down to eat lunch with his girlfriend outside his own restaurant a block away from the Hollywood Walk of Fame.
“Right as I sat down, I looked over, and a homeless man had come over, and he sucker-punched a 64-year-old man in the head. Knocked him over,” Ratcliff told a local television station. “You crossed the line. This was too far,” he remembers thinking before he got up from his table, chased down the attacker, and pinned him for almost 15 minutes before police finally arrived.
Ratcliff says he has noticed a significant increase in crime since the Los Angeles Police Department started losing officers, and he desperately wishes there were more law enforcement around Hollywood. “We’re having to deal with it,” Ratcliff said.
https://www.msn.com/en-us/news/crime/big-cities-waving-big-bucks-to-get-best-police/ar-AA13cWfe
15 minutes.
But, weather?
Think about this situation: this bum probably committed this senseless violence against a white or asian person. So we got a couple of groups of highly paid politicians that are knuckle dragging racists, you got out of control racist bums by the tens of thousands, and throw in a horde of drugged out zombies staggering around with needles in their arms taking a sh$t where ever they like.
A million pesos gets you some beaten up old shack in a neighborhood you’ll wish you never visited. You got a guvnah who drinks 16K worth of booze (paid for by a corrupt donor) without a mask, telling everyone else they have to spend thanksgiving alone, inject an experimental gene altering drug in yer kids blood system or they can’t go to school (that you paid for BTW)- and forget church, that right out.
Where do I sign up?
+1 great post.
Awesome truth.
“It is unfortunate that crime had to get so bad before people realized how essential police are to maintaining law and order. Law enforcement is never perfect — they are humans, after all — but hopefully, the next time an officer messes up, the Left won’t overreact again and send our nation’s cities into chaos.”
George Floyd’s respiratory system slowed to a stop due to a Fentanyl laced suppository that he inserted into his rectum prior to passing counterfeit currency to local merchants, and then deciding to engage in a physical altercation with arresting officers.
The ensuing riots around the country were the Democrats using Antifa to agitate and foment civil unrest until after the Biden’s inaugural address.
Denver Public Schools is set to shut down a number of middle and elementary schools because low enrollment numbers are slashing millions in district funding.
“We’re anticipating over the next four years to see another 3,000 student drop just because of the way that the community is growing and changing right now,” DPS Director of External Communications Scott Pribble said. “Three thousand students does not seem like a lot of students but when you look at a per pupil amount of money that we receive, that’s about $36 million that our budget will be short over the next three years.”
The district said equity guardrails are part of the equation with providing access and promoting equity being two of them.
https://www.msn.com/en-us/news/us/denver-to-close-middle-and-elementary-schools-with-low-enrollment/ar-AA13czze
“Equity” = make whitey pay.
BTW they are renaming the 14,000 foot mountain Mt Evans, because muh racisms.
Yep, cancel culture.
“to see another 3,000 student drop just because of the way that the community is growing ”
talk about new speak. Losing 3000 students cuz the community is “growing”. oh, ok
KeyBank reducing mortgage center jobs amid rising interest rates
Buffalo News|15 hours ago
KeyBank is cutting an undisclosed number of positions at its mortgage operations hub in Amherst, as rising interest rates take a toll on mortgage applications. KeyBank officials declined to say how many employees at the Ridge Lea Road center were affected by cuts put in place after the bank’s consumer mortgage business shrunk by 40% during the third quarter.
Ally Financial takes a big hit on Better.com investment
HousingWire|13 hours ago
Online bank Ally Financial recorded a $136 million impairment related to its investment in struggling digital mortgage lender Better.com.
Culling with kindness – the right way to about making redundancies in the tech sector
Diginomica|2 hours ago
Although mass layoffs in the tech sector, particularly over the summer months, may appear to be easing somewhat – although Microsoft’s latest round of cuts bumps up the tally – the looming prospect of a global recession could well mean that more pain is on its way.
Fitch downgrades two nonbank lenders, sets negative outlook for four
HousingWire|18 hours ago
Fitch ratings revised its credit ratings for Finance of America, Freedom Mortgage, Provident Funding, Home Point Capital and UWM. Here’s the outlook for the nonbanks.
Warning signs: Hiring in WA may be at a tipping point
Seattle Times|10 hours ago
But there are growing signs — with lower hiring in tech, education and construction — that Washington’s job market could be, as one economist puts it, “at the top of the roller coaster, about to plummet.
Inside the Scottish rehab centre treating cryptocurrency addicts: ‘I lost £5,000 in a day’
i|5 hours ago
The currency’s volatile nature can make it very appealing to those with addictive dispositions. Castle Craig Rehab received its first crypto patient in 2016 and has now seen over 200