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From the first 10:38 video:
Housing Market In Las Vegas – No Competition!
Oct 29, 2022 Housing Market In Las Vegas – No Competition! After nearly two years of home price appreciation, the housing market in Las Vegas is now slowing down. The median home price now stands at just under $450,000. This is down from the peak of $485,000 just a few months ago. The good thing now is that there is no competition from buyers like there was earlier in the year. You can now buy a home in Las Vegas without the pressure of overbidding and getting into a bidding war. I will show you how the housing market in Las Vegas has changed and the great deals you can now find. I will show you detailed examples of reduced home prices all over the Las Vegas valley and how sellers are getting desperate to sell their homes. You’ll also see how several new construction home builders in Las Vegas are offering massive reductions in brand new home communities. The housing market in Las Vegas has now changed into a buyers market. This is the time to consider buying a home in Las Vegas.
The second 7:13 video:
Demand is Falling | October 2022 San Clemente Housing Market Update
Ryan Schramm
Oct 29, 2022 With November around the corner, it’s time for another housing market update.
If you have thought about buying or selling a property in our current real estate market, you need to be aware of these seven key market statistics:
1. Demand (00:21)
Demand is down 11% since September – the largest drop of the year.
2. Active Inventory (00:48)
As of October 26th, there are 132 active listings in San Clemente.
3. Price Reductions (01:24)
Out of the 132 active listings, there have been 15 price reductions.
4. Mortgage Rates (01:41)
We have only seen about 1/8 of a percent change in mortgage rates since last month’s housing market update. Rates are hovering around 6.625% for a conforming loan and 6.375% for a non-conforming loan.
5. Closed Sales (02:28)
August – 46
September – 53
October (as of 10/26) – 40
6. Expected Market Time (02:47)
$1m to $2m – 79 days, a Slight Seller’s Market
$2m to $4m – 123 days, a Slight Buyer’s Market
7. Market Seasons (03:47)
We are quickly approaching the holiday season. Right after Halloween, people start to get into Thanksgiving mode which significantly slows down the market.
Looking at the data, here are my key takeaways:
If you are a seller, the list price of your property is critical. You also have to pack your patience as selling a house is no longer instantaneous.
If you are a buyer, although interest rates are high, there is less competition in the market. You always have the option to refinance once rates are more favorable.
Climbing interest rates could trigger a modest decline, but not a breathtaking dip, in the region’s home prices in the coming year.
That prediction comes from Steven Peterson, a clinical associate professor of economics at the University of Idaho in Moscow. He was a Realtor for 10 years before 1995, when he became an economist who follows trends in the Northwest.
Absent availability, prices for housing of all kinds rose, something that didn’t occur in the years just prior to the Great Recession, Peterson said.
“It was in almost every rural community in the state,” he said. “I was just (shocked) when I first realized how widespread the price increases were across Idaho, both in urban and rural areas.”
Mauricio Restrepo is frustrated that Democrats have failed to put up more of a fight against Republican gains in his home county of Miami-Dade, a liberal stronghold that could be captured by a GOP gubernatorial candidate for the first time in 20 years.
“There’s no way around it. It used to be a toss-up state, but I would say it’s not even close anymore,” said the 39-year old Colombian American teacher, who is a registered Democrat. Restrepo predicts that Gov. Ron DeSantis (R), who is running for reelection this year, is going to win in Miami-Dade County: “All the Republicans are going to win for sure.”
DeSantis is leading Crist by 51 percent to 44 percent with Florida’s Hispanic voters, according to a new Telemundo/LX News poll. In southeastern Florida, which includes Miami-Dade, 50 percent of Hispanic voters are backing DeSantis, compared with 46 percent supporting Crist, the poll found.
The poll also showed DeSantis leading with Hispanic independent voters, 56 percent to 34 percent. And DeSantis is getting 6 percent support from registered Democrats, compared with 1 percent of Republicans backing Crist, the poll found.
DeSantis’s more controversial decisions have been supported by Hispanic voters in the state, the poll found. Half of Florida’s Hispanic voters were in favor of the governor’s move last month to fly Venezuelan migrants to Martha’s Vineyard, while 43 percent disapproved.
“Gov. DeSantis is winning in Miami because his agenda is popular and his opponents are a walking arroz con mango,” said Giancarlo Sopo, a Republican media strategist who led Trump’s 2020 national Hispanic advertising, using Cuban slang that means “a messy situation.” “The Democrats could earnestly address their issues with Hispanics, but they prefer to attribute their losses to ‘disinformation.’ This helps them save face with donors, but there’s an electoral price to being so out of touch with reality.”
Somehow, three-decade Democratic leader Patty Murray has ended up in a race against a MAGA-friendly political upstart for her seat in the Senate. Somehow, that seat could be part of a precarious tip toward Republican control. And, somehow, the Murray campaign is including trips to our Capitol Hill in a last push to shore up her base and help inspire stronger turnout in one of the surprise battles in this midterm election.
“Why is this race closer than it ever should have been?” Murray said Thursday as she expressed her frustration and surprise at the circumstances in a campaign stop with LGBTQ community members at Capitol HIll’s Elliott Bay Book Company. “If we get people to vote, I will not lose this election,” Murray said.
As for the tiff with Smiley over Starbucks, coffee, and crime on Capitol Hill, Murray said the reason the GOP challenger chose to make the neighborhood a campaign issue in a national race is obvious. “I think you know the answer to that,” Murray said sharply after an afternoon talking about LGBTQ and equity issues on Capitol Hill.
With the fatigue of the campaign showing, Murray promised the gathered group she would keep fighting even as she was losing her voice with more town halls and campaign stops over the remaining days as an advertising surge from both sides also plays out into the election. “I will try to stay calm,” she said.
For the supporters and voters in the bookstore’s reading room, she also had one more important piece of advice for making it to November 8th’s Election Night: “Please don’t watch television.”
“If we get people to vote, I will not lose this election,” Murray said.
Maybe Patty needs Zuckerberg et alii to offer free pizza coupons?
Los Angeles Apartment Investors Step to the Sidelines
GlobeSt.com|11 minutes ago
The year 2022 has proven sobering for apartment investors. After more than a decade of cheap debt, the party has finally come to an end. This year, the Federal Open Market Committee has increased interest rates five times.
How about the ongoing covid renter moratoriums?
Swiss National Bank Posts Loss of $142.6 Billion in First Nine Months of 2022
U.S. News & World Report|3 hours ago
The Swiss National Bank lost 142.2 billion Swiss francs ($142.60 billion) in the first nine months of 2022, it said on Monday, as rising interest rates and the stronger Swiss franc slashed the value of the central bank’s foreign investments.
The Swiss National Bank’s (SNB) balance sheet shrank by nearly 8% in September, data showed on Monday, as plunging valuations on its stock and bond investments and the high value of the Swiss franc reduced the value of its foreign investments.
The 55.4 billion Swiss franc ($55.4 billion) decline in the value of the central bank’s foreign currency investments was the main reason for its balance sheet declining to 889.5 billion francs from 964.6 billion francs a month earlier.
The value of SNB’s portfolio, which includes stocks in companies such as Starbucks and Apple as well as bonds, is adjusted every quarter to reflect their market value and every month to take into account exchange rate moves.
Earlier on Monday, the SNB reported how a plunge in value of its investments pushed the central bank into a nine month loss of 142.2 billion francs, the worst in its 115-year history and slightly more than the entire economic output of Morocco.
The balance sheet data on Monday also showed how the SNB has been mopping up excess liquidity in Switzerland as it aims to steer the market interest rate towards the policy rate of 0.5% it introduced at the end of September.
Credit Suisse on Monday unveiled details of its plan to raise 4 billion Swiss francs ($4.01 billion) from investors to support the embattled bank’s bid to tackle the biggest crisis in its 166-year history.
Switzerland’s second-biggest lender is raising new capital to fund an overhaul, which will see it cut thousands of jobs and shift its focus away from investment banking and towards the less turbulent area of wealth management.
Its reputation has been battered by a string of scandals and losses, including a $5.5 billion loss from the unravelling of U.S. investment firm Archegos, and it had to freeze $10 billion worth of supply chain finance funds linked to insolvent British financier Greensill.
Credit Suisse had its financial proboscis in Bernanke’s artery, IIRC.
MONTEROSSO AL MARE, Italy — For years, Antonio Scognamillo paid $1,200 a month to power La Smorfia, his cozy pizzeria offering dozens of styles of pies in this hilly, medieval tourist enclave by the Ligurian Sea.
That was before energy and food costs soared in the wake of the Russian invasion of Ukraine, threatening the future of his long-profitable business. Today, Scognamillo stares down at a $5,200 monthly power bill — on top of 40% increase in costs for mozzarella, grain and flour in a country where inflation is now at a 40-year high.
“It’s 50,000 [euros] I didn’t make this year,” Scognamillo, 45, recently said with exasperation in his Cinque Terre region shop where the toppings offered include prawns, prosciutto and Genoese pesto. “Everything is more expensive. But my salary is the same.”
For small businesses and families, savings have failed to trickle down — and may never as an energy-hungry Europe barrels toward a dark, long winter and governments warn of shortages for years to come.
“We’ve never seen anything like this,” said Graham Weale, a professor of energy economics at Ruhr University Bochum in Germany who formerly worked as the chief economist for RWE, one of Europe’s largest energy companies. “We’re in new territory. Energy, which was a basic good, is now becoming a luxury good.”
In Prague, 70,000 demonstrators recently marched under the banner “Czech Republic First.” A coalition of far-right groups, they demanded that their government stop arming Ukraine and sign a new deal with Russia over gas, and that the center-right prime minister, Petr Fiala, resign.
“The best for Ukrainians and two jumpers for us,” read one of the placards, a reference to Czechs expecting to wear extra layers of clothing to stay warm.
Incoming this morning dancing cow girl, wakey wakey!
The best for Ukrainians and two jumpers for us,” read one of the placards, a reference to Czechs expecting to wear extra layers of clothing to stay warm.
I already noticed this on zoom meetings, my WFH colleagues in Prague are already layering. They will probably be wearing coats in January.
Keep an eye peeled for exhale vapor. 🙂
Falling prices in Colorado are wildly popular on YT so I thought I’d share them here….. here, there and everywhere.
Colorado Springs, CO Housing Prices Crater 22% YOY As A Decade Of Appraisal Fraud Surfaces Rattling Brokers
From the first 10:38 video:
Housing Market In Las Vegas – No Competition!
Oct 29, 2022 Housing Market In Las Vegas – No Competition! After nearly two years of home price appreciation, the housing market in Las Vegas is now slowing down. The median home price now stands at just under $450,000. This is down from the peak of $485,000 just a few months ago. The good thing now is that there is no competition from buyers like there was earlier in the year. You can now buy a home in Las Vegas without the pressure of overbidding and getting into a bidding war. I will show you how the housing market in Las Vegas has changed and the great deals you can now find. I will show you detailed examples of reduced home prices all over the Las Vegas valley and how sellers are getting desperate to sell their homes. You’ll also see how several new construction home builders in Las Vegas are offering massive reductions in brand new home communities. The housing market in Las Vegas has now changed into a buyers market. This is the time to consider buying a home in Las Vegas.
The second 7:13 video:
Demand is Falling | October 2022 San Clemente Housing Market Update
Ryan Schramm
Oct 29, 2022 With November around the corner, it’s time for another housing market update.
If you have thought about buying or selling a property in our current real estate market, you need to be aware of these seven key market statistics:
1. Demand (00:21)
Demand is down 11% since September – the largest drop of the year.
2. Active Inventory (00:48)
As of October 26th, there are 132 active listings in San Clemente.
3. Price Reductions (01:24)
Out of the 132 active listings, there have been 15 price reductions.
4. Mortgage Rates (01:41)
We have only seen about 1/8 of a percent change in mortgage rates since last month’s housing market update. Rates are hovering around 6.625% for a conforming loan and 6.375% for a non-conforming loan.
5. Closed Sales (02:28)
August – 46
September – 53
October (as of 10/26) – 40
6. Expected Market Time (02:47)
$1m to $2m – 79 days, a Slight Seller’s Market
$2m to $4m – 123 days, a Slight Buyer’s Market
7. Market Seasons (03:47)
We are quickly approaching the holiday season. Right after Halloween, people start to get into Thanksgiving mode which significantly slows down the market.
Looking at the data, here are my key takeaways:
If you are a seller, the list price of your property is critical. You also have to pack your patience as selling a house is no longer instantaneous.
If you are a buyer, although interest rates are high, there is less competition in the market. You always have the option to refinance once rates are more favorable.
Climbing interest rates could trigger a modest decline, but not a breathtaking dip, in the region’s home prices in the coming year.
That prediction comes from Steven Peterson, a clinical associate professor of economics at the University of Idaho in Moscow. He was a Realtor for 10 years before 1995, when he became an economist who follows trends in the Northwest.
Absent availability, prices for housing of all kinds rose, something that didn’t occur in the years just prior to the Great Recession, Peterson said.
“It was in almost every rural community in the state,” he said. “I was just (shocked) when I first realized how widespread the price increases were across Idaho, both in urban and rural areas.”
https://sports.yahoo.com/housing-market-forecast-123100306.html?src=rss
Mauricio Restrepo is frustrated that Democrats have failed to put up more of a fight against Republican gains in his home county of Miami-Dade, a liberal stronghold that could be captured by a GOP gubernatorial candidate for the first time in 20 years.
“There’s no way around it. It used to be a toss-up state, but I would say it’s not even close anymore,” said the 39-year old Colombian American teacher, who is a registered Democrat. Restrepo predicts that Gov. Ron DeSantis (R), who is running for reelection this year, is going to win in Miami-Dade County: “All the Republicans are going to win for sure.”
DeSantis is leading Crist by 51 percent to 44 percent with Florida’s Hispanic voters, according to a new Telemundo/LX News poll. In southeastern Florida, which includes Miami-Dade, 50 percent of Hispanic voters are backing DeSantis, compared with 46 percent supporting Crist, the poll found.
The poll also showed DeSantis leading with Hispanic independent voters, 56 percent to 34 percent. And DeSantis is getting 6 percent support from registered Democrats, compared with 1 percent of Republicans backing Crist, the poll found.
DeSantis’s more controversial decisions have been supported by Hispanic voters in the state, the poll found. Half of Florida’s Hispanic voters were in favor of the governor’s move last month to fly Venezuelan migrants to Martha’s Vineyard, while 43 percent disapproved.
“Gov. DeSantis is winning in Miami because his agenda is popular and his opponents are a walking arroz con mango,” said Giancarlo Sopo, a Republican media strategist who led Trump’s 2020 national Hispanic advertising, using Cuban slang that means “a messy situation.” “The Democrats could earnestly address their issues with Hispanics, but they prefer to attribute their losses to ‘disinformation.’ This helps them save face with donors, but there’s an electoral price to being so out of touch with reality.”
https://www.msn.com/en-us/news/politics/democrats-worry-the-gop-could-win-traditionally-liberal-miami-dade/ar-AA13xvdW
Somehow, three-decade Democratic leader Patty Murray has ended up in a race against a MAGA-friendly political upstart for her seat in the Senate. Somehow, that seat could be part of a precarious tip toward Republican control. And, somehow, the Murray campaign is including trips to our Capitol Hill in a last push to shore up her base and help inspire stronger turnout in one of the surprise battles in this midterm election.
“Why is this race closer than it ever should have been?” Murray said Thursday as she expressed her frustration and surprise at the circumstances in a campaign stop with LGBTQ community members at Capitol HIll’s Elliott Bay Book Company. “If we get people to vote, I will not lose this election,” Murray said.
As for the tiff with Smiley over Starbucks, coffee, and crime on Capitol Hill, Murray said the reason the GOP challenger chose to make the neighborhood a campaign issue in a national race is obvious. “I think you know the answer to that,” Murray said sharply after an afternoon talking about LGBTQ and equity issues on Capitol Hill.
With the fatigue of the campaign showing, Murray promised the gathered group she would keep fighting even as she was losing her voice with more town halls and campaign stops over the remaining days as an advertising surge from both sides also plays out into the election. “I will try to stay calm,” she said.
For the supporters and voters in the bookstore’s reading room, she also had one more important piece of advice for making it to November 8th’s Election Night: “Please don’t watch television.”
https://www.capitolhillseattle.com/2022/10/please-dont-watch-tv-sen-murray-makes-lgbtq-gotv-campaign-stop-at-elliott-bay-books/#more-2067273600
“If we get people to vote, I will not lose this election,” Murray said.
Maybe Patty needs Zuckerberg et alii to offer free pizza coupons?
Los Angeles Apartment Investors Step to the Sidelines
GlobeSt.com|11 minutes ago
The year 2022 has proven sobering for apartment investors. After more than a decade of cheap debt, the party has finally come to an end. This year, the Federal Open Market Committee has increased interest rates five times.
How about the ongoing covid renter moratoriums?
Swiss National Bank Posts Loss of $142.6 Billion in First Nine Months of 2022
U.S. News & World Report|3 hours ago
The Swiss National Bank lost 142.2 billion Swiss francs ($142.60 billion) in the first nine months of 2022, it said on Monday, as rising interest rates and the stronger Swiss franc slashed the value of the central bank’s foreign investments.
The Swiss National Bank’s (SNB) balance sheet shrank by nearly 8% in September, data showed on Monday, as plunging valuations on its stock and bond investments and the high value of the Swiss franc reduced the value of its foreign investments.
The 55.4 billion Swiss franc ($55.4 billion) decline in the value of the central bank’s foreign currency investments was the main reason for its balance sheet declining to 889.5 billion francs from 964.6 billion francs a month earlier.
The value of SNB’s portfolio, which includes stocks in companies such as Starbucks and Apple as well as bonds, is adjusted every quarter to reflect their market value and every month to take into account exchange rate moves.
Earlier on Monday, the SNB reported how a plunge in value of its investments pushed the central bank into a nine month loss of 142.2 billion francs, the worst in its 115-year history and slightly more than the entire economic output of Morocco.
The balance sheet data on Monday also showed how the SNB has been mopping up excess liquidity in Switzerland as it aims to steer the market interest rate towards the policy rate of 0.5% it introduced at the end of September.
https://finance.yahoo.com/news/1-swiss-national-banks-balance-085554047.html
Credit Suisse on Monday unveiled details of its plan to raise 4 billion Swiss francs ($4.01 billion) from investors to support the embattled bank’s bid to tackle the biggest crisis in its 166-year history.
Switzerland’s second-biggest lender is raising new capital to fund an overhaul, which will see it cut thousands of jobs and shift its focus away from investment banking and towards the less turbulent area of wealth management.
Its reputation has been battered by a string of scandals and losses, including a $5.5 billion loss from the unravelling of U.S. investment firm Archegos, and it had to freeze $10 billion worth of supply chain finance funds linked to insolvent British financier Greensill.
https://finance.yahoo.com/news/credit-suisse-prices-shares-capital-055947771.html
Credit Suisse had its financial proboscis in Bernanke’s artery, IIRC.
MONTEROSSO AL MARE, Italy — For years, Antonio Scognamillo paid $1,200 a month to power La Smorfia, his cozy pizzeria offering dozens of styles of pies in this hilly, medieval tourist enclave by the Ligurian Sea.
That was before energy and food costs soared in the wake of the Russian invasion of Ukraine, threatening the future of his long-profitable business. Today, Scognamillo stares down at a $5,200 monthly power bill — on top of 40% increase in costs for mozzarella, grain and flour in a country where inflation is now at a 40-year high.
“It’s 50,000 [euros] I didn’t make this year,” Scognamillo, 45, recently said with exasperation in his Cinque Terre region shop where the toppings offered include prawns, prosciutto and Genoese pesto. “Everything is more expensive. But my salary is the same.”
For small businesses and families, savings have failed to trickle down — and may never as an energy-hungry Europe barrels toward a dark, long winter and governments warn of shortages for years to come.
“We’ve never seen anything like this,” said Graham Weale, a professor of energy economics at Ruhr University Bochum in Germany who formerly worked as the chief economist for RWE, one of Europe’s largest energy companies. “We’re in new territory. Energy, which was a basic good, is now becoming a luxury good.”
In Prague, 70,000 demonstrators recently marched under the banner “Czech Republic First.” A coalition of far-right groups, they demanded that their government stop arming Ukraine and sign a new deal with Russia over gas, and that the center-right prime minister, Petr Fiala, resign.
“The best for Ukrainians and two jumpers for us,” read one of the placards, a reference to Czechs expecting to wear extra layers of clothing to stay warm.
https://www.latimes.com/world-nation/story/2022-10-31/europe-energy-crisis
Incoming this morning dancing cow girl, wakey wakey!
The best for Ukrainians and two jumpers for us,” read one of the placards, a reference to Czechs expecting to wear extra layers of clothing to stay warm.
I already noticed this on zoom meetings, my WFH colleagues in Prague are already layering. They will probably be wearing coats in January.
Keep an eye peeled for exhale vapor. 🙂
Falling prices in Colorado are wildly popular on YT so I thought I’d share them here….. here, there and everywhere.
Colorado Springs, CO Housing Prices Crater 22% YOY As A Decade Of Appraisal Fraud Surfaces Rattling Brokers
https://www.movoto.com/co/80911/market-trends/