It's Friday desk clearing time for this blogger. "Mortgage rates again rose to nearly 7%,…
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From the first 2:34 video:
When is the Housing Market Going to Crash? Colorado Springs Edition
Kevin James Bond
Nov 11, 2022
When is the housing market going to crash? Let’s look. Here’s what home prices have done in the 6 recessions we’ve had since 1980. In this graph I put together the Home Price Index of all homes sold in Colorado Springs versus Nationally, during each recession since 1980.
The second 4:27 video:
Real Estate Market Stats for Oct 2022 Northwest Florida ~ Escambia & Santa Rosa Counties
Brandon Vinyard
Nov 11, 2022
I go over the latest Infosparks stats for the last 3 years through this October of 2022. For the last several months the market has been on a sharp decline. These stats are eye-opening for current sellers.
But if you look at the current economy and the rising interest rates, then it’s not hard to understand why market conditions are slowing down. Are we having a market crash? Absolutely not. But we are experiencing a solid market correction. Want to learn more about buying foreclosures and investment properties?
The third 6:12 video:
Is the Seattle real estate market going to crash? Are we in a housing bubble? November 2022 edition
Nov 11, 2022
Seattle just had its slowest October in terms of buyers putting homes under contract in the last 11 years, so it is only fair to ask, is the Seattle market going to crash? Are we in a bubble? How big of a bubble? If it is going to crash/pop, how bad could things get?
The fourth 10:35 video:
WHAT IS HAPPENING IN North Dallas Housing Market? OCTOBER 2022 – Frisco, Prosper, and Celina Texas
Living Luxury in North Dallas with Chrissy Ball
Nov 11, 2022
North Dallas Housing Market Update OCTOBER 2022 – Frisco, Prosper, and Celina Texas
The numbers are out for the North Dallas Real Estate Market for OCTOBER 2022. Let’s find out what the numbers mean for home buyers and home sellers around the Frisco, Prosper, and Celina Texas area.
*Note: Frisco, Prosper and Celina are located in both Collin and Denton County.
For today’s video, I’ll share with you a quick update on the North Dallas Market for the month of OCTOBER 2022. Find out what’s new in the North Dallas Texas Housing market! Tune in this video to find out how many homes are on the Frisco, Prosper, and Celina Texas market, what homes are selling for, and how the inventory is standing for the North Dallas housing market.
North Dallas Housing Market Update OCTOBER 2022 – Frisco, Prosper, and Celina Texas
0:00 – North Dallas Housing Market Update OCTOBER 2022
0:21 – What is Happening in the North Dallas Housing Market
1:15 – North Dallas Medium Sale Price
2:34 – North Dallas Price/Sqft
3:35 – Average Days on Market
4:38 – North Dallas Inventory OCTOBER 2022
5:28 – North Dallas New Listings OCTOBER 2022
6:18 – Average Showings Per Listing OCTOBER 2022
7:34 – Mortgage Rates OCTOBER 2022
8:49 – Conclusion
The fifth 12:17 video:
Can You Now Buy a Home in Portland Oregon at Last Year’s Prices? Did That Just Happen?!!
Ron Milligan
Nov 11, 2022
The sixth 7:11 video:
MELTDOWN in Milton! Home Sales Down 63% in October.
Vic Singh Honest real estate talk
Nov 12, 2022
Milton real estate update for October 2022. House prices in Milton down around 25% but homes sales down 63% since the peak of the market in March. That’s the lowest anywhere in the GTA right now. If you’re thinking of buying or selling a house in Milton do a lot of research before signing anything. See prices for detached homes, freehold townhouses and condos in Milton in this market update
Sam Bankman-Fried’s bankrupt digital-asset exchange FTX was hit by a mysterious outflow of about $662 million in tokens in the last 24 hours, the latest twist in one of the darkest periods for the crypto industry.
Customers still coming to terms with the platform’s Friday plunge into Chapter 11 proceedings were subsequently confronted with what the general counsel of its U.S. arm, Ryne Miller, described as “abnormalities with wallet movements.”
Miller said on Twitter that FTX had begun moving digital assets into cold storage — wallets that are unconnected to the internet — following its bankruptcy filing on Friday. The process was later expedited “to mitigate damage upon observing unauthorized transactions.”
Blockchain analytics firm Nansen, which gave the overall estimate of $662 million in withdrawals, said the coins flowed out of both FTX’s international and U.S. exchanges. A separate analysis by Elliptic stated that initial indications showed almost $475 million had been stolen from the exchange in illicit transactions, with the stablecoins and other tokens that were taken being rapidly converted to Ether on decentralized exchanges — “a common technique used by hackers in order to prevent their haul being seized.”
Paolo Ardoino, chief technology officer at stablecoin issuer Tether, referenced a tweet suggesting it had blacklisted more than $30 million of the “FTX attacker’s” holdings in its USDT token.
“It’s unclear exactly who’s making the transactions, but you wouldn’t expect to see these on-chain trades at this time,” said Alex Svanevik, chief executive officer at Nansen.
The latest developments are another blow for the crypto sector, which is reeling from a yearlong rout as well as the implosion of Bankman-Fried’s exchange and sister trading house Alameda Research. If the outflows are a security exploit, they would add to what’s shaping up to be a record year for attacks on the digital-token industry.
The main wallet belonging to FTX was drained of its entire balance in FTT during the incident, according to Nansen. The FTT coins are native to the exchange. Nansen said the overall outflows from FTX eventually ceased.
FTX’s descent into bankruptcy capped the downfall of one of crypto’s wealthiest moguls. The U.S. Securities and Exchange Commission is investigating how closely intertwined his businesses were and whether FTX mishandled customer funds.
Twitter was rife with protests apparently from aggrieved clients. They cited a community Telegram chat warning that FTX had been compromised and that some client accounts were drained. The claims couldn’t be immediately verified and several calls to FTX officials outside regular U.S. business hours went unanswered.
The exact causes of the FTX cryptocurrency exchange’s US$32-billion implosion are still trickling out, but big-picture-wise, this is not new. We’ve seen this movie before.
It happened with terraUSD, a stablecoin that was supposed to be tied to the U.S. dollar. It happened with Celsius Network Ltd., the crypto lender. The gist is that it’s a bank run. For whatever reason, people lost confidence in the operation, and they decided to withdraw their funds en masse.
And lo and behold, the company did not have enough money on hand to cover that. Cue the collapse.
But there is one crucial difference. And that difference means all the scandal and turmoil we have seen so far is only the beginning.
TerraUSD and Celsius, for all their hype, were relatively insider-crypto operations run by folks not particularly notable to the outside, from whom nobody ever expected too much.
Bahamas-based FTX was different. Last year, at age 29, founder Sam Bankman-Fried famously spun his company out of the behemoth Binance exchange, which had a stake in it, because he didn’t feel Binance was regulatorily compliant enough.
The young billionaire pranced on stage with supermodels and former world leaders Bill Clinton and Tony Blair. Mr. Bankman-Fried’s quirky antics – his sleeping on a beanbag in the office and his passion for effective altruism – endeared him to the world.
Just months ago, amid the crypto crash, Mr. Bankman-Fried’s FTX was bailing out bankrupt crypto firms.
It would be an understatement that crypto enthusiasts might have said, “He was the best of us.” Mr. Bankman-Fried was their lord and saviour, not just in the literal sense, through his bailouts, but also the figurative sense: a new, charismatic, regulator-and-public-pleasing face of the industry.
Now, we’re presented with the fact that Mr. Bankman-Fried, too, could fall. Few people saw this coming. The markets were badly shaken in the aftermath, with bitcoin dipping below US$16,000 at one point from a recent high of about US$21,000 – nearly a one-quarter loss.
The market has pared back some losses since then, with bitcoin rising above US$17,000. But there will certainly be more turmoil in the days ahead.
Part of the reason why is the irony of what happened cannot be overstated.
In the wake of FTX’s troubles, Mr. Bankman-Fried had to crawl back to kiss the ring of Binance after spurning it earlier, taking on an offer of acquisition that reportedly valued FTX at nothing – Binance would cover the withdrawal requests from FTX’s customers, and that was it.
Then Binance rejected FTX after looking at its finances, presumably deciding the hole on the balance sheet was too big to fill. We’ve seen this movie before, too.
Once upon a time, FTX looked at bankrupt Celsius to try to rescue the lender, but then backed out. It saw that Celsius owed too much money for FTX to cover. This wasn’t even that long ago. It was just June.
Now, the saviour has become the damned.
Where do we go from here?
The lone positive aspect of this is that it’s not a problem with the main underlying commodity. It’s not an issue with bitcoin, the original cryptocurrency and the progenitor of the industry. It was the folly of FTX and its own FTT coin, and the questionable way the coin had been used, that caused the massive volume of withdrawals FTX could not handle.
But if FTX can fall this way, if it turns out that Mr. Bankman-Fried the golden boy is just as cavalier, sloppy and reckless as the rest of them crypto cowboys, then perhaps nobody is infallible in this business.
There will certainly be another shoe to drop. It’s just a matter of when.
A Twitter manager threw up in a trash can after new CEO Elon Musk directed him to fire hundreds of employees as part of the company’s decision to slash its workforce in half, according to a new report.
One widely-shared message on Slack indicated as many as 3,738 workers could be laid off. Employees immediately began saying their goodbyes and exchanging information, The Times reported.
“One engineering manager was approached by Mr. Musk’s advisers — or ‘goons,’ as Twitter employees called them — with a list of hundreds of people he had to let go. He vomited into a trash can near his feet,” The Times wrote.
From the first 2:34 video:
When is the Housing Market Going to Crash? Colorado Springs Edition
Kevin James Bond
Nov 11, 2022
When is the housing market going to crash? Let’s look. Here’s what home prices have done in the 6 recessions we’ve had since 1980. In this graph I put together the Home Price Index of all homes sold in Colorado Springs versus Nationally, during each recession since 1980.
The second 4:27 video:
Real Estate Market Stats for Oct 2022 Northwest Florida ~ Escambia & Santa Rosa Counties
Brandon Vinyard
Nov 11, 2022
I go over the latest Infosparks stats for the last 3 years through this October of 2022. For the last several months the market has been on a sharp decline. These stats are eye-opening for current sellers.
But if you look at the current economy and the rising interest rates, then it’s not hard to understand why market conditions are slowing down. Are we having a market crash? Absolutely not. But we are experiencing a solid market correction. Want to learn more about buying foreclosures and investment properties?
The third 6:12 video:
Is the Seattle real estate market going to crash? Are we in a housing bubble? November 2022 edition
Nov 11, 2022
Seattle just had its slowest October in terms of buyers putting homes under contract in the last 11 years, so it is only fair to ask, is the Seattle market going to crash? Are we in a bubble? How big of a bubble? If it is going to crash/pop, how bad could things get?
The fourth 10:35 video:
WHAT IS HAPPENING IN North Dallas Housing Market? OCTOBER 2022 – Frisco, Prosper, and Celina Texas
Living Luxury in North Dallas with Chrissy Ball
Nov 11, 2022
North Dallas Housing Market Update OCTOBER 2022 – Frisco, Prosper, and Celina Texas
The numbers are out for the North Dallas Real Estate Market for OCTOBER 2022. Let’s find out what the numbers mean for home buyers and home sellers around the Frisco, Prosper, and Celina Texas area.
*Note: Frisco, Prosper and Celina are located in both Collin and Denton County.
For today’s video, I’ll share with you a quick update on the North Dallas Market for the month of OCTOBER 2022. Find out what’s new in the North Dallas Texas Housing market! Tune in this video to find out how many homes are on the Frisco, Prosper, and Celina Texas market, what homes are selling for, and how the inventory is standing for the North Dallas housing market.
North Dallas Housing Market Update OCTOBER 2022 – Frisco, Prosper, and Celina Texas
0:00 – North Dallas Housing Market Update OCTOBER 2022
0:21 – What is Happening in the North Dallas Housing Market
1:15 – North Dallas Medium Sale Price
2:34 – North Dallas Price/Sqft
3:35 – Average Days on Market
4:38 – North Dallas Inventory OCTOBER 2022
5:28 – North Dallas New Listings OCTOBER 2022
6:18 – Average Showings Per Listing OCTOBER 2022
7:34 – Mortgage Rates OCTOBER 2022
8:49 – Conclusion
The fifth 12:17 video:
Can You Now Buy a Home in Portland Oregon at Last Year’s Prices? Did That Just Happen?!!
Ron Milligan
Nov 11, 2022
The sixth 7:11 video:
MELTDOWN in Milton! Home Sales Down 63% in October.
Vic Singh Honest real estate talk
Nov 12, 2022
Milton real estate update for October 2022. House prices in Milton down around 25% but homes sales down 63% since the peak of the market in March. That’s the lowest anywhere in the GTA right now. If you’re thinking of buying or selling a house in Milton do a lot of research before signing anything. See prices for detached homes, freehold townhouses and condos in Milton in this market update
Sam Bankman-Fried’s bankrupt digital-asset exchange FTX was hit by a mysterious outflow of about $662 million in tokens in the last 24 hours, the latest twist in one of the darkest periods for the crypto industry.
Customers still coming to terms with the platform’s Friday plunge into Chapter 11 proceedings were subsequently confronted with what the general counsel of its U.S. arm, Ryne Miller, described as “abnormalities with wallet movements.”
Miller said on Twitter that FTX had begun moving digital assets into cold storage — wallets that are unconnected to the internet — following its bankruptcy filing on Friday. The process was later expedited “to mitigate damage upon observing unauthorized transactions.”
Blockchain analytics firm Nansen, which gave the overall estimate of $662 million in withdrawals, said the coins flowed out of both FTX’s international and U.S. exchanges. A separate analysis by Elliptic stated that initial indications showed almost $475 million had been stolen from the exchange in illicit transactions, with the stablecoins and other tokens that were taken being rapidly converted to Ether on decentralized exchanges — “a common technique used by hackers in order to prevent their haul being seized.”
Paolo Ardoino, chief technology officer at stablecoin issuer Tether, referenced a tweet suggesting it had blacklisted more than $30 million of the “FTX attacker’s” holdings in its USDT token.
“It’s unclear exactly who’s making the transactions, but you wouldn’t expect to see these on-chain trades at this time,” said Alex Svanevik, chief executive officer at Nansen.
The latest developments are another blow for the crypto sector, which is reeling from a yearlong rout as well as the implosion of Bankman-Fried’s exchange and sister trading house Alameda Research. If the outflows are a security exploit, they would add to what’s shaping up to be a record year for attacks on the digital-token industry.
The main wallet belonging to FTX was drained of its entire balance in FTT during the incident, according to Nansen. The FTT coins are native to the exchange. Nansen said the overall outflows from FTX eventually ceased.
FTX’s descent into bankruptcy capped the downfall of one of crypto’s wealthiest moguls. The U.S. Securities and Exchange Commission is investigating how closely intertwined his businesses were and whether FTX mishandled customer funds.
Twitter was rife with protests apparently from aggrieved clients. They cited a community Telegram chat warning that FTX had been compromised and that some client accounts were drained. The claims couldn’t be immediately verified and several calls to FTX officials outside regular U.S. business hours went unanswered.
https://www.latimes.com/business/technology/story/2022-11-12/bankrupt-ftx-outflow-crypto-industry-reels
“abnormalities with wallet movements.”
I hate it when that happens!
The exact causes of the FTX cryptocurrency exchange’s US$32-billion implosion are still trickling out, but big-picture-wise, this is not new. We’ve seen this movie before.
It happened with terraUSD, a stablecoin that was supposed to be tied to the U.S. dollar. It happened with Celsius Network Ltd., the crypto lender. The gist is that it’s a bank run. For whatever reason, people lost confidence in the operation, and they decided to withdraw their funds en masse.
And lo and behold, the company did not have enough money on hand to cover that. Cue the collapse.
But there is one crucial difference. And that difference means all the scandal and turmoil we have seen so far is only the beginning.
TerraUSD and Celsius, for all their hype, were relatively insider-crypto operations run by folks not particularly notable to the outside, from whom nobody ever expected too much.
Bahamas-based FTX was different. Last year, at age 29, founder Sam Bankman-Fried famously spun his company out of the behemoth Binance exchange, which had a stake in it, because he didn’t feel Binance was regulatorily compliant enough.
The young billionaire pranced on stage with supermodels and former world leaders Bill Clinton and Tony Blair. Mr. Bankman-Fried’s quirky antics – his sleeping on a beanbag in the office and his passion for effective altruism – endeared him to the world.
Just months ago, amid the crypto crash, Mr. Bankman-Fried’s FTX was bailing out bankrupt crypto firms.
It would be an understatement that crypto enthusiasts might have said, “He was the best of us.” Mr. Bankman-Fried was their lord and saviour, not just in the literal sense, through his bailouts, but also the figurative sense: a new, charismatic, regulator-and-public-pleasing face of the industry.
Now, we’re presented with the fact that Mr. Bankman-Fried, too, could fall. Few people saw this coming. The markets were badly shaken in the aftermath, with bitcoin dipping below US$16,000 at one point from a recent high of about US$21,000 – nearly a one-quarter loss.
The market has pared back some losses since then, with bitcoin rising above US$17,000. But there will certainly be more turmoil in the days ahead.
Part of the reason why is the irony of what happened cannot be overstated.
In the wake of FTX’s troubles, Mr. Bankman-Fried had to crawl back to kiss the ring of Binance after spurning it earlier, taking on an offer of acquisition that reportedly valued FTX at nothing – Binance would cover the withdrawal requests from FTX’s customers, and that was it.
Then Binance rejected FTX after looking at its finances, presumably deciding the hole on the balance sheet was too big to fill. We’ve seen this movie before, too.
Once upon a time, FTX looked at bankrupt Celsius to try to rescue the lender, but then backed out. It saw that Celsius owed too much money for FTX to cover. This wasn’t even that long ago. It was just June.
Now, the saviour has become the damned.
Where do we go from here?
The lone positive aspect of this is that it’s not a problem with the main underlying commodity. It’s not an issue with bitcoin, the original cryptocurrency and the progenitor of the industry. It was the folly of FTX and its own FTT coin, and the questionable way the coin had been used, that caused the massive volume of withdrawals FTX could not handle.
But if FTX can fall this way, if it turns out that Mr. Bankman-Fried the golden boy is just as cavalier, sloppy and reckless as the rest of them crypto cowboys, then perhaps nobody is infallible in this business.
There will certainly be another shoe to drop. It’s just a matter of when.
https://www.theglobeandmail.com/investing/markets/inside-the-market/article-ftx-crypto-sam-bankman-fried/
A Twitter manager threw up in a trash can after new CEO Elon Musk directed him to fire hundreds of employees as part of the company’s decision to slash its workforce in half, according to a new report.
One widely-shared message on Slack indicated as many as 3,738 workers could be laid off. Employees immediately began saying their goodbyes and exchanging information, The Times reported.
“One engineering manager was approached by Mr. Musk’s advisers — or ‘goons,’ as Twitter employees called them — with a list of hundreds of people he had to let go. He vomited into a trash can near his feet,” The Times wrote.
https://nypost.com/2022/11/11/twitter-manager-vomits-after-elon-musk-orders-him-to-fire-staff/?dicbo=v2-47802f79e43a63550987851e3c9d6b87
Bay Harbor Islands, FL Housing Prices Crater 22% YOY As Retirement And Vacation Property Market Implodes
https://www.movoto.com/bay-harbor-islands-fl/market-trends/
As a noted economist advised, “Housing prices are cratering everywhere.”