The Housing Market Appears To Be In Free Fall October 27, 2022 Ben Jones Uncategorized BoiseFort CollinsHousing bubblenew constructionNorth CountyTorontoShare ThisTweetSharePlus oneShareEmail Related Posts Is This The Calm Before The Storm For Prices? https://www.youtube.com/watch?v=Lv7hUgeWBr4 https://www.youtube.com/watch?v=laxzMsVTXK8 https://www.youtube.com/watch?v=ss26EL7gOPA https://www.youtube.com/watch?v=vwwFNFYTlRQ https://www.youtube.com/watch?v=lygTKv5o3d4 https://www.youtube.com/watch?v=b1ZOfgwOMBw A Lot Of Folks Put Their Life Savings Into Their Property, Is It A Gamble? Sure A report from the American Statesman in Texas. "Last month, Central Texas housing market expert… The Net They Thought Policymakers Were Holding Out For The Market Wasn’t There At All A report from the Palm Beach Post in Florida. "As the coronavirus spreads, travel and… This Post Has 34 Comments From the first 13:21 video: BOISE Home builders in DANGER ( housing market collapse) #economiccrisis #newconstruction #housingmarket Good News Real Estate-Idaho Oct 26, 2022 Home builders in DANGER ( housing market collapse) #economiccrisis #newconstruction #housingmarket Builders are preparing for a Real Estate Market CRASH. Should you hold off on buying or selling a home? Lennar is calling a category 3 market for Boise, Philly, Reno, Austin, Utah, Minnesota, and Pensacola. They are expecting a significant housing market softening and correction. Buyers are taking more time to make a purchase decision. What will the fed rate hike cause in the mortgage interest rates? could we see 8%? There is a fear of elevated cancellations in the housing market and new construction builds. New homes are sitting for months with massive price reductions. There is a new fear of more debt, higher fees, and borrowers facing mounting burdens trying to buy a home. Follow us along as we talk about the current state of the Housing Market. Will there be a market crash? Will home prices ever come down? Why is rent so expensive. So many questions about the current housing market. Here we try and answer a few! The second 14:50 video: Toronto Real Estate Feeling Drastically Different Right Now – Oct 19 Team Sessa Real Estate Oct 25, 2022 Toronto Real Estate Market Report for the week of Oct 13 – Oct 19, 2022. The third 10:14 video: What’s Changed in the North County San Diego Housing Market Oct 25, 2022 In this video we let you know what has changed in the North County San Diego housing market and what that means for home sellers! The fourth 11:15 video: Fort Collins Colorado Housing Market UPDATE | OCT 2022 Oct 26, 2022 Are you looking to purchase a home in Fort Collins Colorado? Have you been following the real estate market trends around Colorado and wanting to know the newest numbers? Pete and Chelsea, Your Colorado Real Estate Family, take you through inventory, days on market, real estate median sales prices, and more specifically for Fort Collins. Colorado’s housing market was INSANE this last two quarters but is it finally turning the corner into a buyers market? The last 13 minute video: Toronto’s Housing Market Goes from Bad to Worse Real Estate Raccoons Oct 25, 2022 Toronto’s housing market appears to be in free fall, with prices dropping month-over-month and few buyers willing to take the plunge. Does this mean it’s a good time to invest in real estate in Toronto? Or are there still risks involved? Let’s take a closer look. Remember that while average sale prices have decreased, some neighbourhoods have seen more significant drops. So if you’re thinking of investing in Toronto real estate, it’s important to do your research first. That’s why you’re reading this blog, right? And if you already own property here, make sure you stay up to date on market trends by following this blog so you don’t end up taking a bath on your investment. The creator of Meta’s Oculus virtual reality headsets shredded Mark Zuckerberg’s version of the metaverse — arguing the platform is currently “terrible” and in need of an overhaul. Palmer Luckey, who sold Oculus VR to Facebook for $3 billion and was later ousted by the company, compared Zuckerberg’s foray into the metaverse to a “project car” — a pet initiative requiring a massive investment with no guarantee that others will find it worthwhile. “I don’t think it’s a good product. It’s not. It’s not fun, it’s not good,” Luckey said during an appearance at the Wall Street Journal’s Tech Live conference Monday. “I think actually most of the people probably on the team would agree that it’s not currently a good product. It’s like a project car.” Under Zuckerberg’s direction, Meta has spent at least $15 billion to build its version of the metaverse — with little to show for its effort. Earlier this month, the Wall Street Journal reported Meta has already cut user growth goals for its main metaverse platform, Horizon Worlds, due to sagging early results. https://nypost.com/2022/10/25/mark-zuckerbergs-terrible-metaverse-shredded-by-oculus-founder-its-not-fun/?dicbo=v2-a0037b758f6c8698feac0ca99b974280 Under Zuckerberg’s direction, Meta has spent at least $15 billion to build its version of the metaverse That’s a lot of money to spend on something that doesn’t exist. Oh well, it was other people’s money. Conversions to multifamily are beginning to put a dent in office inventory in Dallas’ central business district, with more than 2M SF of vacant space coming off the market in the coming months. Projects underway include the planned conversions of Bryan Tower, Renaissance Tower, Energy Plaza, Santander Tower and 501 Elm Place. Taken together, the projects will knock 6.5% off the CBD’s office vacancy rate, which sits at 31.6%, according to JLL. https://www.bisnow.com/dallas-ft-worth/news/multifamily/office-conversions-kill-two-birds-with-one-stone-in-dallas-cbd-116050 1/3 of the office space in booming Dallas is empty???????? is that a lot? Zillow has laid off about 300 employees as it is shifting focus toward technology-related positions in the company, TechCrunch has learned from sources and confirmed with the company over e-mail. The Seattle-headquartered online real estate marketplace informed its impacted employees about the decision on Tuesday. Shortly after receiving the communication, the impacted employees had to leave the company. The layoffs impacted Zillow Offer advisors, PA sales and back-end staff at Zillow Home Loans and Zillow Closing Services, as well as other teams. In November last year, Zillow announced that it would lay off a quarter of its staff — around 2,000 people — due to shutting down its home-buying service Offers that aimed to provide sellers with instant home offers. The company, at the time, had 8,000 employees. Zillow has become one of the latest tech companies to lay off employees during this economic slowdown. Earlier this week, telehealth unicorn Cerebral reduced its workforce by 20% due to an ongoing push for efficiency. Companies including Netflix, Momentive Global, Spotify and Tencent have also made similar decisions recently. Similarly, Indian startups including Byju’s and Ola have let hundreds of employees go amid the downfall of funding and investments. https://techcrunch.com/2022/10/26/zillow-layoff-300-employees/ Elon Musk Entering Twitter HQ – let that sink in! https://twitter.com/elonmusk/status/1585341984679469056 LOL https://www.theglobeandmail.com/business/article-canada-interest-rate-hikes-housing-market/ Canada’s housing market is expected to slow further with the Bank of Canada’s latest interest rate hike set to increase mortgage costs again. The typical selling price of a home across the country has dropped 9 per cent to $766,000 in September from $840,000 in February, according to CREA data. That marks the steepest decline since the global financial crisis when the typical home price fell 9.1 per cent from March of 2008 to March, 2009. Scott Ingram, a realtor in the Toronto region, said Wednesday’s rate hike will contribute to the negative sentiment in the market. “There are more buyers who are out of the game now,” he said. Mr. Ingram said would-be buyers are regularly making offers under the seller’s asking price. That’s the spirit! Canadian salaries must be really high to support those prices. And the weather is sunny and warm 10-months of the year! 🙂 After betting big on self-driving cars — including $1 billion on soon-to-be shuttered startup Argo AI — Ford Motor Co. is softening its expectations on vehicles that don’t require drivers. Ford executives on Wednesday said they were winding down their investment in Argo, which confirmed an earlier report of its plans to shut down, saying there were too many challenges to running a profitable network of fully self-driving vehicles anytime soon. That resulted in a $2.7 billion impairment on the startup, disclosed when Ford reported third-quarter results earlier in the day. “We still believe in Level 4 autonomy, that it will have a big impact on our business of moving people,” Ford CEO Jim Farley said on the company’s earnings call, referring to cars that are autonomous enough not to need handling from a driver. “We’ve learned, though, in our partnership with Argo, and after our own internal investments, that we will have a very long road.” “It’s estimated that more than $100 billion has been invested in the promise of Level 4 autonomy,” he continued. “And yet no one has defined a profitable business model at scale.” https://www.msn.com/en-us/money/companies/ford-takes-big-charge-as-autonomous-startup-argo-ai-shuts-down-earnings-head-for-low-end-of-guidance/ar-AA13pniQ Ahem… “We still believe in Level 4 autonomy, that it will have a big impact on our business of moving people,” Ford CEO Jim Farley said on the company’s earnings call, referring to cars that are autonomous enough not to need handling from a driver. “We’ve learned, though, in our partnership with Argo, and after our own internal investments, that we will have a very long road.” I thought level 4 was “imminent”. It’s been imminent for years. Now there’s a “very long road” Famous for its low-priced homes, the rust-belt town near the Russian border has become a much-discussed topic online after a 25-year-old woman, surnamed Zhao, revealed online last week her happiness after purchasing a local apartment for just 15,000 yuan. Zhao had been renting an apartment in Nanjing, the capital of Jiangsu province in eastern China, before she decided to take the plunge and move to downtown Hegang last year and bought the small second-hand apartment, she told the Star Video. In comparison, the average house price in Nanjing was most recently valued at more than 32,000 yuan (US$4.460) for a single square metre, according to the real estate firm 5i5j. That means a flat of similar size as Zhao’s Hegang apartment would cost almost 100 times more to buy in Nanjing. “It’s so cheap I can buy it without much effort, and I can decorate it according to my taste. I can live a life without the pressure of home loans,” she said. https://www.msn.com/en-sg/lifestyle/other/us-2000-for-a-home-woman-in-china-buys-low-priced-flat-after-relocating-to-small-town-trends-online-as-exodus-from-costly-cities-grows/ar-AA13obph the average house price in Nanjing was most recently valued at more than 32,000 yuan (US$4.460) for a single square metre Over $400 a square foot, in a gray Chinese sh!thole whose claim to fame was having been decimated by the Japanese in WW2 Hitting a wall: San Antonio housing market slowing as inflation, rates and prices keep climbing San Antonio Express-News|43 minutes ago A year ago, buying a home in San Antonio required an “act now” approach. Now, it’s “wait and see.” After a record-setting run through the pandemic, San Antonio’s housing market is hitting a wall. With soaring mortgage interest rates and high prices pushing home ownership out of reach for more would-be buyers, As the World Backpedals on Ditching Fossil Fuels, One Oil Major Plows Ahead https://finance.yahoo.com/news/world-backpedals-ditching-oil-one-120016614.html But the New York bartender told me I had to ride a peacock to the store? The US is pleading with drillers to pump more. In what universe is the Biden regime doing this? Correction: The US is pleading with Saudi Arabia to pump more. Usually when I read “drillers”, I think of domestic producers. But yeah, Brandon went hand in hat to OPEC and was sent packing. And Karine Jean-Pierre said the trip wasn’t about oil. And Karine Jean-Pierre said the trip wasn’t about oil. Does anything come out of her mouth that isn’t a lie? The company has drawn criticism from some investors lately over its large investment in its metaverse project, which has yet to deliver significant returns. Brad Gerstner, whose fund Altimeter Capital holds hundreds of millions of dollars worth of Meta stock, sharply criticized the company’s strategy in an open letter this week. “Meta has drifted into the land of excess – too many people, too many ideas, too little urgency,” Gerstner wrote. “This lack of focus and fitness is obscured when growth is easy but deadly when growth slows and technology changes.” Gerstner called on the company to cut staffing costs by 20% and limit spending on its metaverse project to $5 billion per year. “Meta needs to get its mojo back,” he wrote. MORE: Microsoft lays off nearly 1,000 employees The report from Meta arrives a day after Microsoft and Google-parent Alphabet announced lackluster quarterly earnings. Microsoft’s revenue grew at its slowest pace in five years, sending shares in the company tumbling 6%. Alphabet, meanwhile, said its advertising sales rose at its lowest rate in nearly a decade. https://www.msn.com/en-us/news/technology/sales-slump-at-facebook-parent-meta-stock-tumbles/ar-AA13ptAu Alphabet, meanwhile, said its advertising sales rose at its lowest rate in nearly a decade. Google’s main source of revenue. Many of it’s other projects are vanity projects, which could easily have their plugs pulled should funding dry up. The economic slowdown has come for tech companies’ big cash cows: the cloud businesses that provide their clients with inexpensive computing power and applications. On Tuesday, Microsoft reported that its all-important Azure cloud division will see slower growth than it expected this quarter. The same day, Google parent Alphabet reported that its Google Cloud Platform growth slowed from 44% in the third quarter 2021 to 37% in the third quarter. Amazon is expected to report 33% growth in its AWS segment when it announces its earnings Oct. 27. That would mark a drop from the 39% growth it saw in the same quarter last year. “We’re seeing some budgetary pressure on the enterprise side,” Piper Sandler equity research analyst Brent Bracelin told Yahoo Finance. “We certainly wouldn’t say enterprise software, cloud is immune from the macro and we’re starting to see cracks.” https://finance.yahoo.com/news/the-slowdown-has-come-for-the-cloud-business-193410736.html We certainly wouldn’t say enterprise software, cloud is immune from the macro and we’re starting to see cracks Tower of Babel type stuff. China’s financial model ‘crumbling before our very eyes’ as Xi’s Covid policy backfires https://www.express.co.uk/news/world/1687931/china-xi-jinping-economy-zero-covid-policy-coronavirus-deflation-vn Xi’s Covid policy backfires I think the purpose of the Zero Covid policy is to lock down people, to let them know that the party still controls every aspect of their lives. If GDP has to suffer, so be it. RENO, Nev. (KOLO) – Inflation is impacting everything from groceries to gas to building supplies, and the housing market is not immune to the changes. However, local realtor, Kayla Dalton, says the market is slowly stabilizing even though interest rates are still high. Just a few months ago, it was nearly impossible to even look at a home because it’d be sold within hours of hitting the market. Now buyers can often get the home under list price and even ask the seller to pay down their interest rates. https://www.msn.com/en-us/money/realestate/local-realtor-shares-creative-ways-buyers-can-work-the-housing-market-in-their-favor/ar-AA13psWc Jim Rooney, chief executive of the Greater Boston Chamber of Commerce, expressed skepticism about relying too heavily on reviving downtown via residential conversions. “I don’t hold out much hope for that, though I’m sure there are some [properties that could work],” Rooney said. “If it was financially feasible, we would already be seeing it happening.” As with the Wu administration, the BID hopes to hold more event series that can draw crowds downtown and gradually change the area into a full-fledged neighborhood as opposed to a forest of office towers that goes dark on nights and weekends. https://www.msn.com/en-us/money/smallbusiness/as-downtown-blues-linger-wu-outlines-plans-to-bring-it-back-to-life/ar-AA13qEWx PulteGroup, one of Twin Cities’ largest homebuilders, walks from land deals as demand wanes The Business Journals|15 hours ago Atlanta-based homebuilder PulteGroup saw a sharp decline in new orders and a corresponding rise in order cancelations over the past three months. The company is responding by walking away from land deals for new projects. Pennymac imposes a new round of layoffs ahead of Q3 earnings HousingWire|16 hours ago Nonbank mortgage lender and servicer Pennymac Financial Services imposed a new round of layoffs to its employees this week, ahead of its third-quarter earnings report on Thursday. “Peace can be achieved by supporting Ukies…” ‘Right wing’ Italian PM Meloni That didn’t take long. So, how long until the globalists replace her with a non ethnic Italian? Comments are closed.