A report from the Seattle Times in Washington. "Across King County, condo shoppers have nearly…
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From the first 7 minute video:
South Scottsdale Crash | Real estate market crash | Scottsdale Arizona
Michael Smitty Smith
Nov 22, 2022
The second 3 minute video:
Las Vegas Homes Lose 22 Billion Dollars In Value | Home Equity Collpase 1.4 Trillion Wiped Out!
Steve Hawks
Nov 21, 2022
Fastest Drop Of Home Equity In History
1.4 trillion dollars in home owner’s equity wiped out In America since the fed housing reset began in May 2022
Clark County homeowners have lost 22 billion dollars of homeowner equity in 5 months.
Captain Noah and Hawkman warned sellers 5 months ago house prices were going to fall and we told you why.
We told you Jerome was going to reset housing and that’s exactly what he is doing.
Bad news for sellers!
Sellers still making record profits📈 but it’s dwindling Fast!
Great news for buyers.
If you are a seller more pain is coming 2023 is not going to be your friend. The trend is not your friend.
Sellers for a limited time you can still get top dollar by doing this trick
Right now many homes are appraising for more than they are worth.
The appraise value of homes in Las Vegas and Henderson is more than the market value.
Appraisers are still using old comps from May that have no bearing on the current market but you can use this GAP to your advantage.
For example you want 600,000 the buyer wants a $540000 payment. That’s not going to happen
But wait your home will appraise for 640,000. What you can do is sell your home for 640K give give the buyer $40,000 or $30,000 whatever it takes to buy down the rate and pay their closing cost. Just add the amount to 600k.
Now you get your money the buyer gets their payment everybody’s happy.
This loop hole wont-work in 3 to 4 months because the homes selling today are selling for much less than they were 4 to 5 months ago
Therefore they will wreck the appraisals and you won’t be able to appraise it for more than it’s worth.
The closing cost and rate buy down will come out of your profit and not the appraisal gap which it currently is
Jerome Powell is not going to let up in 2023. Inflation is Public Enemy number number one and your home is a huge contributor to inflation.
Buyers know the homes are coming down they’re just waiting grabbing the popcorn.
Last months record low closings prove that. The trend is their friend..
Sellers don’t forget the same people who told you inflation was transitory are the same people trying to get a soft landing.
The only thing transitory is your equity
Sellers dont delay buy down the rate today!
The third 12 minute video:
Is Another $175,000 Price Drop Possible? 2022 Canadian Housing Market
Jon Flynn Broker of Record, Flynn Real Estate Inc.
Nov 22, 2022
The Chart Price Targets show us the bottom is still far away. I analyze the national average home price data from the Canadian Real Estate Association. Watch for my full and honest opinion on the Canadian Real Estate Market.
The fourth 15 minute video:
Who Will Be Right About Toronto Home Prices?
Team Sessa Real Estate
Nov 22, 2022
Toronto Real Estate Market Report for the week of Nov 10 – Nov 16, 2022.
your home is a huge contributor to inflation
Not quite so. What’s in the CPI isn’t “your home”. It’s what you think your home should rent for. What you think your home should rent for could quite well go up even when house prices are tanking.
“Appraisers are still using old comps”
“Comps”? Now how can this be? Comps are a realtor scam tool.
What work are these ‘appraisers’ actually performing?
Violent Protests Erupt at Apple’s Main iPhone Plant in China
Hundreds of workers at Apple Inc.’s main iPhone-making plant in China clashed with security personnel, as tensions boiled over after almost a month under tough restrictions intended to quash a Covid outbreak.
Workers at the Foxconn Technology Group plant streamed out of dormitories in the early hours of Wednesday, jostling and pushing past the white-clad guards they vastly outnumbered, according to videos sent by a witness to portions of the protest. Several white-suited people pummeled a person lying on the ground with sticks in another clip. Onlookers yelled “fight, fight!” as throngs of people forced their way past barricades. At one point, several surrounded an occupied police car and began rocking the vehicle while screaming incoherently.
The German residential property market faces a growing risk of price corrections, the DIW research institute said in a study released on Wednesday.
“We are not facing the bursting of a huge real estate price bubble in Germany,” the report’s co-author Konstantin Kholodilin said. “But price drops of up to 10% for owner-occupied flats and owner-occupied homes are quite possible.”
Whoever painted those airboxes red should have to buy the city aspirin.
Qatar is facing claims of buyer’s remorse over its hosting of the World Cup due to the constant negative publicity it has been receiving.
In a clip widely shared on social media, ex-BBC journalist Jon Sopel said someone who worked closely with the Gulf state told him the country now regrets bidding to host the tournament.
The World Cup has already been mired by Qatar’s stance on LGBT+ rights, the poor treatment of migrant workers used to build its stadiums, corruption claims, and the country’s lack of any significant football history.
Summing up his insider’s take on the country’s response, Sopel said on the News Agents podcast that a source close to the Qataris had told him: “Why on Earth have we bothered? We spent £200 billion on this, we are vilified over LGBTQ rights, we are attacked for being corrupt over the manner in which we got the World Cup.
“We are seen as kind of Victorian in the labour laws that we have, in the way that guest workers have been treated.
“Nothing good has come to us as a result of this. And this has all been a giant waste of money, and I wish it would all just go away, but it can’t.”
Sopel added that the initial impressions were that the tournament has “gone to s**t in so many ways”.
As expected dumb brown money fleeced by ‘altruistic’ white folks.
It is worth remembering that years go, when Qatar was awarded the games, the narrative was that Islam could do no wrong. Pointing out back then that Islam was problematic would earn you the bigot label.
And now, the Narrative has changed, because Islam has been pushing back against globo home (how date they!?). Reminding people that you warned of this will result in an attempt to gaslight you. You might even be accused of having been pro-islam all along.
‘It’s the beginning of a sea change’: How tech layoffs are transforming the job market
FWIW, the dude profiled in the story is in marketing. He is not a technologist.
I am still constantly bombarded by recruiters; but I’m not in marketing, or the DIE department, HR, etc.
The job cuts are just one of the many steps being taken by Meta to address gargantuan challenges that include a huge stock price decline in its move towards the metaverse. Zuckerberg cited being overly optimistic regarding business growth on the metaverse, which eventually led to an overstaffed company.
With Meta’s stock price declining 70% for the year, there had to be compromises to be made in order to address the plunging stock price. Valued at over $1 trillion last year, Meta’s market value has sunk to about $250 billion.
Dumping a bunch of deadwood won’t get their stock back up. Everyone knows what happened to Fakebook’s predecessor: MySpace. Now it’s Fakebook’s turn to become irrelevant.
FB marketplace is still very good with all the hyper-local tag sale groups We put up our Wilton cake decorating kit books and supplies case for $99 on Saturday and it was sold yesterday to someone less than a mile away.
Commercial property values tumble as spooked lenders retreat
The Financial Times|5 hours ago
When British real estate investor Graham Clemett bought McKay Securities in May, he had a clear plan.
Mortgage lender adds to layoffs at Clearwater office
The Business Journals|16 hours ago
Home Point announced 57 layoffs from the Clearwater office in early September. Home Point has slashed over 1,000 jobs this year, or more than a third of its workforce, according to notices filed in Arizona,
HP Cuts More Than 4,000 Jobs—Here Are The Biggest U.S. Layoffs This Year
Forbes |12 hours ago
Forbes is tracking the biggest layoffs in the U.S. this year as companies react to fears of a looming recession.
Investor home purchases tumble 30% as rising mortgage rates cool housing market
Fox Business on MSN.com|18 hours ago
A new Redfin report showed that investor home purchases plunged in the third quarter of the year as higher mortgage rates rapidly slow the housing market.
U.S. housing faces longer descent to basement
Reuters|20 hours ago
The median new U.S. home sold for about $471,000 in September. For a buyer to keep mortgage payments at $1,500 a month after paying 20% upfront and borrowing the rest for 30 years at 6.4%, the price would have to drop 36%. It’s a crude calculation, but it nevertheless points the market in a clear direction.
Credit Suisse flags $1.6 billion 4Q loss as wealth management comes under strain
MarketWatch|3 hours ago
Lower deposits and assets under management are set to lead to reduced net interest income and recurring commissions and fees, which will drag
Homebuying startup Ribbon lays off 85% of staff
The Real Deal|18 hours ago
Homebuying startup Ribbon laid off all but roughly 30 employees last week as the proptech company cited economic uncertainty.
S&P Global Settles Mortgage-backed Security Case with SEC
20 hours ago
S&P Global Ratings has agreed to pay $2.5 million to settle Securities and Exchange Commission charges that it violated conflict-of-interest rules by allowing its sales and marketing team to influencing its credit ratings.
HP Cuts More Than 4,000 Jobs
Laptop, PC and printer sales are in the toilet. HP has become irrelevant as those markets have shrunk, the competitors are many and the margins are razor thin.
“Laptop, PC and printer sales are in the toilet.”
With smartphones becoming so powerful and PDF cloud storage virtually free the need for notebooks and printers has greatly diminished. I used to keep a folding Bluetooth keyboard handy, but now speech to text is working so well.
Lynnwood, WA Housing Prices Crater 24% As Housing Rots On The Vine Across Seattle Area
From the first 7 minute video:
South Scottsdale Crash | Real estate market crash | Scottsdale Arizona
Michael Smitty Smith
Nov 22, 2022
The second 3 minute video:
Las Vegas Homes Lose 22 Billion Dollars In Value | Home Equity Collpase 1.4 Trillion Wiped Out!
Steve Hawks
Nov 21, 2022
Fastest Drop Of Home Equity In History
1.4 trillion dollars in home owner’s equity wiped out In America since the fed housing reset began in May 2022
Clark County homeowners have lost 22 billion dollars of homeowner equity in 5 months.
Captain Noah and Hawkman warned sellers 5 months ago house prices were going to fall and we told you why.
We told you Jerome was going to reset housing and that’s exactly what he is doing.
Bad news for sellers!
Sellers still making record profits📈 but it’s dwindling Fast!
Great news for buyers.
If you are a seller more pain is coming 2023 is not going to be your friend. The trend is not your friend.
Sellers for a limited time you can still get top dollar by doing this trick
Right now many homes are appraising for more than they are worth.
The appraise value of homes in Las Vegas and Henderson is more than the market value.
Appraisers are still using old comps from May that have no bearing on the current market but you can use this GAP to your advantage.
For example you want 600,000 the buyer wants a $540000 payment. That’s not going to happen
But wait your home will appraise for 640,000. What you can do is sell your home for 640K give give the buyer $40,000 or $30,000 whatever it takes to buy down the rate and pay their closing cost. Just add the amount to 600k.
Now you get your money the buyer gets their payment everybody’s happy.
This loop hole wont-work in 3 to 4 months because the homes selling today are selling for much less than they were 4 to 5 months ago
Therefore they will wreck the appraisals and you won’t be able to appraise it for more than it’s worth.
The closing cost and rate buy down will come out of your profit and not the appraisal gap which it currently is
Jerome Powell is not going to let up in 2023. Inflation is Public Enemy number number one and your home is a huge contributor to inflation.
Buyers know the homes are coming down they’re just waiting grabbing the popcorn.
Last months record low closings prove that. The trend is their friend..
Sellers don’t forget the same people who told you inflation was transitory are the same people trying to get a soft landing.
The only thing transitory is your equity
Sellers dont delay buy down the rate today!
The third 12 minute video:
Is Another $175,000 Price Drop Possible? 2022 Canadian Housing Market
Jon Flynn Broker of Record, Flynn Real Estate Inc.
Nov 22, 2022
The Chart Price Targets show us the bottom is still far away. I analyze the national average home price data from the Canadian Real Estate Association. Watch for my full and honest opinion on the Canadian Real Estate Market.
The fourth 15 minute video:
Who Will Be Right About Toronto Home Prices?
Team Sessa Real Estate
Nov 22, 2022
Toronto Real Estate Market Report for the week of Nov 10 – Nov 16, 2022.
your home is a huge contributor to inflation
Not quite so. What’s in the CPI isn’t “your home”. It’s what you think your home should rent for. What you think your home should rent for could quite well go up even when house prices are tanking.
“Appraisers are still using old comps”
“Comps”? Now how can this be? Comps are a realtor scam tool.
What work are these ‘appraisers’ actually performing?
Violent Protests Erupt at Apple’s Main iPhone Plant in China
Hundreds of workers at Apple Inc.’s main iPhone-making plant in China clashed with security personnel, as tensions boiled over after almost a month under tough restrictions intended to quash a Covid outbreak.
Workers at the Foxconn Technology Group plant streamed out of dormitories in the early hours of Wednesday, jostling and pushing past the white-clad guards they vastly outnumbered, according to videos sent by a witness to portions of the protest. Several white-suited people pummeled a person lying on the ground with sticks in another clip. Onlookers yelled “fight, fight!” as throngs of people forced their way past barricades. At one point, several surrounded an occupied police car and began rocking the vehicle while screaming incoherently.
https://uk.news.yahoo.com/violent-protests-erupt-apple-biggest-034805561.html
The German residential property market faces a growing risk of price corrections, the DIW research institute said in a study released on Wednesday.
“We are not facing the bursting of a huge real estate price bubble in Germany,” the report’s co-author Konstantin Kholodilin said. “But price drops of up to 10% for owner-occupied flats and owner-occupied homes are quite possible.”
https://www.msn.com/en-gb/money/homeandproperty/german-residential-property-market-faces-risk-of-price-drop-diw-study/ar-AA14rtQ6
Whoever painted those airboxes red should have to buy the city aspirin.
Qatar is facing claims of buyer’s remorse over its hosting of the World Cup due to the constant negative publicity it has been receiving.
In a clip widely shared on social media, ex-BBC journalist Jon Sopel said someone who worked closely with the Gulf state told him the country now regrets bidding to host the tournament.
The World Cup has already been mired by Qatar’s stance on LGBT+ rights, the poor treatment of migrant workers used to build its stadiums, corruption claims, and the country’s lack of any significant football history.
Summing up his insider’s take on the country’s response, Sopel said on the News Agents podcast that a source close to the Qataris had told him: “Why on Earth have we bothered? We spent £200 billion on this, we are vilified over LGBTQ rights, we are attacked for being corrupt over the manner in which we got the World Cup.
“We are seen as kind of Victorian in the labour laws that we have, in the way that guest workers have been treated.
“Nothing good has come to us as a result of this. And this has all been a giant waste of money, and I wish it would all just go away, but it can’t.”
Sopel added that the initial impressions were that the tournament has “gone to s**t in so many ways”.
https://sg.news.yahoo.com/its-all-gone-to-st-qataris-now-regret-hosting-world-cup-ex-bbc-journalist-claims-144044657.html
As expected dumb brown money fleeced by ‘altruistic’ white folks.
It is worth remembering that years go, when Qatar was awarded the games, the narrative was that Islam could do no wrong. Pointing out back then that Islam was problematic would earn you the bigot label.
And now, the Narrative has changed, because Islam has been pushing back against globo home (how date they!?). Reminding people that you warned of this will result in an attempt to gaslight you. You might even be accused of having been pro-islam all along.
‘It’s the beginning of a sea change’: How tech layoffs are transforming the job market
https://www.msn.com/en-us/money/careersandeducation/e2-80-98it-e2-80-99s-the-beginning-of-a-sea-change-e2-80-99-how-tech-layoffs-are-transforming-the-job-market/ar-AA14qizL
FWIW, the dude profiled in the story is in marketing. He is not a technologist.
I am still constantly bombarded by recruiters; but I’m not in marketing, or the DIE department, HR, etc.
The job cuts are just one of the many steps being taken by Meta to address gargantuan challenges that include a huge stock price decline in its move towards the metaverse. Zuckerberg cited being overly optimistic regarding business growth on the metaverse, which eventually led to an overstaffed company.
With Meta’s stock price declining 70% for the year, there had to be compromises to be made in order to address the plunging stock price. Valued at over $1 trillion last year, Meta’s market value has sunk to about $250 billion.
https://techbullion.com/overstaffed-meta-begins-mass-layoffs-after-huge-stock-price-decline/
Dumping a bunch of deadwood won’t get their stock back up. Everyone knows what happened to Fakebook’s predecessor: MySpace. Now it’s Fakebook’s turn to become irrelevant.
FB marketplace is still very good with all the hyper-local tag sale groups We put up our Wilton cake decorating kit books and supplies case for $99 on Saturday and it was sold yesterday to someone less than a mile away.
Commercial property values tumble as spooked lenders retreat
The Financial Times|5 hours ago
When British real estate investor Graham Clemett bought McKay Securities in May, he had a clear plan.
Mortgage lender adds to layoffs at Clearwater office
The Business Journals|16 hours ago
Home Point announced 57 layoffs from the Clearwater office in early September. Home Point has slashed over 1,000 jobs this year, or more than a third of its workforce, according to notices filed in Arizona,
HP Cuts More Than 4,000 Jobs—Here Are The Biggest U.S. Layoffs This Year
Forbes |12 hours ago
Forbes is tracking the biggest layoffs in the U.S. this year as companies react to fears of a looming recession.
Investor home purchases tumble 30% as rising mortgage rates cool housing market
Fox Business on MSN.com|18 hours ago
A new Redfin report showed that investor home purchases plunged in the third quarter of the year as higher mortgage rates rapidly slow the housing market.
U.S. housing faces longer descent to basement
Reuters|20 hours ago
The median new U.S. home sold for about $471,000 in September. For a buyer to keep mortgage payments at $1,500 a month after paying 20% upfront and borrowing the rest for 30 years at 6.4%, the price would have to drop 36%. It’s a crude calculation, but it nevertheless points the market in a clear direction.
Credit Suisse flags $1.6 billion 4Q loss as wealth management comes under strain
MarketWatch|3 hours ago
Lower deposits and assets under management are set to lead to reduced net interest income and recurring commissions and fees, which will drag
Homebuying startup Ribbon lays off 85% of staff
The Real Deal|18 hours ago
Homebuying startup Ribbon laid off all but roughly 30 employees last week as the proptech company cited economic uncertainty.
S&P Global Settles Mortgage-backed Security Case with SEC
20 hours ago
S&P Global Ratings has agreed to pay $2.5 million to settle Securities and Exchange Commission charges that it violated conflict-of-interest rules by allowing its sales and marketing team to influencing its credit ratings.
HP Cuts More Than 4,000 Jobs
Laptop, PC and printer sales are in the toilet. HP has become irrelevant as those markets have shrunk, the competitors are many and the margins are razor thin.
“Laptop, PC and printer sales are in the toilet.”
With smartphones becoming so powerful and PDF cloud storage virtually free the need for notebooks and printers has greatly diminished. I used to keep a folding Bluetooth keyboard handy, but now speech to text is working so well.
Lynnwood, WA Housing Prices Crater 24% As Housing Rots On The Vine Across Seattle Area
https://www.movoto.com/wa/98037/market-trends/
As one Seattle area broker explained, “We have thousands of houses for sale…. and not a buyer in sight at any price.”