Massive Bubble?

1. From the first 2:23 video:

   California Exodus Halted! Home Transactions Crash! Home Inventory Skyrockets! Home Prices Fall!
   Steve Hawks
   Nov 26, 2022
   The California Exodus Halted!

   First Time In 20 Years Home Buyers From California Have Declined

   More Equity Drops For Sellers!
   Good News For Local Buyers!

   Finally For Local Buyers
   California Buyers And Hedge Funds Have Slowed 🐌 Buying
   Why?

   The looming California Crash?

   California home inventory up 61%
   Oh so transactions are up
   Nope Transactions
   are down 50%

   Oh so prices are up
   Nope the medium price is down 11% the last 5 months.

   Recent data released from the California association of realtors.

   The California buyers are getting less for their homes and they are not going to offer $700,000 on your home that was $500,000 in 2019.

   That bag of 💸 cash California sellers have been bringing is going to be much smaller with less cash.

   Californians are taken less and they’re going to offer less it’s already happening.

   Plus Las Vegas sellers have more competition from other California exodus favorite destinations that are all dropping like a brick

   Many locations are less than Vegas. Another 1st.

   Phoenix is a disaster with price drops and inventory galore almost like 2008, Utah is down.

   Boise Idaho, a top builder just laid off 50% of their workforce.

   Home sellers are still up quite a bit from 2019 if you’re thinking about selling don’t let your value reset to 2020 prices before you pull the trigger!

   If you’re a local buyer this is one of the best times in a long time you have very little competition compared to how it was the last decade.

   Locals Go big ask for 3 points and 10 to 20% discount. locals this window of opportunity won’t last long.

   The second 12 minute video:

   The DECLINE Begins For Rental Prices… | Arizona Real Estate
   Rick McHone
   Nov 27, 2022
   For those who are renting in the Arizona real estate market we are starting to see a decline in rental prices.

   The third 18:43 video:

   Massive Bubble? | Phoenix, AZ
   Caitlin McKeaguePremiered 9 hours ago
   In this Phoenix Real Estate Market Update we are talking about a bubble…or are we? The Phoenix market has seen price softening, but is this a bubble? Will things stabilize or continue to trend down?

   The fourth 10 minute video:

   MEMPHIS
   2022-Has the Foreclosure Wave started in the US? The Banks are Starting Here!
   Ashley Pickens
   Premiered Nov 27, 2022
   Hey guys! Im sharing with you the latest foreclosure stats from HUD and I’m giving you my opinion of what I think is going on with the real estate foreclosures across the country. I feel like banks aren’t really foreclosing because of how many people are behind on their mortgages. I think if banks actually started the process on everyone behind, the housing market would crash again. As always, thanks for watching. I’ll put the links below for you to read, as well!

   1. Locals Go big ask for 3 points and 10 to 20% discount. locals this window of opportunity won’t last long.

      This is the first inning, not only will it last long, but prices will drop even more.

2. Where Are Home Prices Plummeting Most?

   https://www.aol.com/finance/where-home-prices-plummeting-most-153035821.html

3. “We’re seeing an increase in foreclosure,” Kim Freeman, the assistant director of the home ownership program with Oregon Housing and Community Services (OHCS), said. “But it’s not to what it was pre-pandemic or even the recession of 2008 and the mortgage crisis; it’s a small but steady increase.”

   According to the data company ATTOM, the number of foreclosures this October was 57% higher than last October.

   To try and prevent foreclosure, a senior economist from ECONorthwest says you should cut back your spending. He notes eliminating eating out (everything from bars to coffee shops) can save a household $1,500 a month.

   You can also reach out to your utility company if you are struggling with payments to see if they can pause your bills or cover some costs.

   https://www.msn.com/en-us/money/realestate/help-for-homeowners-as-foreclosure-rate-seeing-small-but-steady-increase/ar-AA14FqRQ

   1. He notes eliminating eating out (everything from bars to coffee shops) can save a household $1,500 a month.

      I live in a much different world than his audience.

4. Inspectify is latest Seattle real estate tech company to face layoffs
   The Business Journals|6 hours ago
   The home inspection startup joins the likes of Zillow, Redfin and Flyhomes, all of which have laid off employees this year amid a cooling housing market.

   Chinese Solar Wafer Giants Drop Prices as Silicon Shortage Eases
   Yicai Global|3 hours ago
   This shows that there is a lot of new capacity for silicon coming onto the market and the supply shortage is ending, a new energy industry analyst told Yicai Global. “If silicon prices keep sliding, wafer makers will have to find a way to quickly offload stock made from high-priced silicon

   Housing market slump presenting opportunities for San Antonio investors
   The Business Journals|14 hours ago
   A slump in San Antonio’s housing market has given way to a spike … “Some folks bought properties at higher prices than they should have. Over the next 12-24 months, there will be lots of opportunities for investors to come in and get them at a discount.”

   Farmers ask for help as live pig prices plunge
   The Phnom Penh Post|17 hours ago
   Farmers have asked the government to intervene in the pig sector, where the prices of live hogs have plummeted and an alarming number of breeders are quitting the trade as money dries up, many of them smallholders who may have gambled a bit too much trying to recoup their losses.

   Cruzan sells Laguna Hills office complex for a loss
   The Real Deal|12 hours ago
   Cruzan sold a 223,000-square-foot office complex in Laguna Hills for a loss, disposing of it for about $2 million less than what it paid in 2015.

   Report: Austin home prices cooling faster than anywhere else in US
   The Business Journals|14 hours ago
   A new report shows housing prices in Austin are cooling off the fastest this year compared to other cities that boomed during the pandemic. The latest data shared Nov. 28 from real estate company Redfin showed Austin’s median price per square foot went up 1.

5. Robert Dietz, a senior vice president and chief economist at the National Association of Homebuilders, is cited in the report as having a forecast for price declines through the end of 2023 with prices dropping by 10% or more from peak pricing earlier this year.

   But Garrett Derderian, the director of market intelligence at Serhant, told the report’s authors that the mountain west region and west coast region are the “most likely” to depreciate with expectations of 10-20% drop from peak pricing. Still, Derderian noted that “most East Coast markets are likely to see minimal depreciation of no more than 5%.”

   https://wraltechwire.com/2022/11/28/will-home-prices-fall-in-2023-heres-what-experts-predict/

   These people are knuckle dragging doom and gloom stopped clock perma bears. Am I really the last real estate bull left standing? It appears so.

6. Abbott, TX Housing Prices Crater 41% YOY On Rampant Mortgage And Appraisal Fraud As Pricing Schemes Collapse

   https://www.movoto.com/abbott-tx/market-trends/

   As a noted economist said so eloquently, “A house is a rapidly depreciating asset that empties your wallet every day you own it. Rent a house for half the monthly cost of buying it.”

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