A report from PB Monthly in California. "The median home price in San Diego County…
This Post Has 12 Comments
From the first 9 minute video:
The housing market is about to collapse and you’re about to be hit the hardest!
North Carolina Real Estate
Premiered Nov 29, 2022
The housing market is about to collapse and you’re about to be hit the hardest!
The Black Friday sale Ro spoke about in his last video is coming true. Stores are still full to capacity no merchandise moved due to deflation as we’ve been told by the media outlets. In 2023 we are going to see massive layoffs due to store deflation which will lead to more homes coming on the market and home prices will collapse greatly. Raleigh real estate market will hold up for now but the events leading up to 2023 will decide if Raleigh NC housing will fall.
The second 4:42 video:
FORT WORTH
Dallas Fort Worth Housing Market Continues Downward Spiral
Living in Fort Worth with Keela & Torrey
Nov 29, 2022
The Dallas Fort Worth Housing Market Continues to Soften here in Dallas-Fort Worth Texas as Interest Rates continue to rise. Interest rates finally hit 7% and some say they could go as high as 10% before they finally begin to go down again.
The third 13:42 video:
Buyer Beware In Brampton, Mississauga & Durham Real Estate
Team Sessa Real Estate
Nov 30, 2022
Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Nov 17 – Nov 23, 2022.
“Low inventory. Why has the extraordinary surge in borrowing costs not led to falling prices? Because inventory is low, housing experts told me. “Listings are down 20 percent from last year,” Fairweather said. “If you already own a home and you locked in a low interest rate, you don’t really have a reason to sell right now. And if you wanted to sell, you probably would have sold last year or the year before, when the market was really hot.”
The tea leaves say otherwise.
But housing experts I spoke with concurred that many families might want to consider waiting, if they can. Here are five reasons:
-Staggering prices.
-Sharply rising mortgage costs.
-Low inventory. <- – – – – – – – – huh?
-The stock-market decline.
-Uncertainty everywhere.
In a surprising turn of events, applications for San Diego’s first-ever vacation rental licenses have fallen short of a new city-imposed cap, meaning that a planned lottery will no longer be necessary.
“I’m shocked and a little concerned as well because I wanted to make sure that people who do run these businesses didn’t miss out on this opportunity,” said Venus Molina, chief of staff for Councilwoman Jennifer Campbell, whose office originally helped broker a compromise plan for regulating short-term stays after multiple stumbles in the past. “I’m thinking that maybe a lot of people haven’t applied or maybe people just don’t want to deal with this and may want to just rent (their homes) full time.”
Revenue from required license fees, which is $1,000 for a two-year license, will be crucial for funding the administration and enforcement of the new regulations. City officials had previously estimated that applications for the first round of all types of short-term rentals could generate more than $7 million. That funding may now fall short. “We will have to take a look at that — the code enforcement funding,” Molina said. “We may have to go back to the drawing board but at the end of the day this is happening, we’re going to get it done, and enforcement starts May 1. From now until then, we’ll figure all this other stuff out.”
The magic 8 ball says the license fees will likely increase.
the all seeing eye says all the law breakers running STR’s are not interesting in applying for a license/new tax. They are already breaking lord knows how many laws to run a hotel in a residential area with no insurance or safety regulations, what do they care about one more law?
Spring inventory?
Banc of California sues Sprout Mortgage, Planet Home Lending
HousingWire|17 hours ago
Banc of California is claiming that the mortgage lenders and servicers owe $1.5 million related to the proceeds of two notes it owned and funded.
LaSalle Street tower owner hit with massive foreclosure lawsuit
Crain’s Chicago Business|11 hours ago
The owner of a LaSalle Street office tower that lost its biggest tenant early in the COVID-19 pandemic is facing one of the largest foreclosure lawsuits involving a downtown office building since the public health crisis began.
Lumber Dives. The Housing Slowdown Killed Demand.
Barron’s|16 minutes ago
Weaker demand for lumber has weighed on prices, making it one of the biggest commodity price decliners this year. The outlook isn’t good, either.
Home prices are falling at the fastest rate in 15 years. 7 real estate analysts and economists break down how bad they think it’s going to get.
Business Insider|17 hours ago
All 7 experts said home prices, which have already started to dip, will drop even further in 2023 for two reasons — fading affordability and demand.
Report: San Jose housing sales to plummet in 2023
The Business Journals|19 hours ago
The San Jose area is predicted to see the second largest drop in housing activity of all 102 metro areas included in a recent forecast.
The mortgage market right-sizing is well underway. When will normalcy return?
HousingWire|12 hours ago
The mortgage market’s restructuring will inflict pain, but it may be the only path to a new normal, industry experts tell HousingWire.
Inlanta Mortgage plans layoffs, closure
The Business Journals|12 hours ago
In a letter to the state, the company’s president cited a “dramatic and unanticipated drop in mortgage product demand.”
RMF files for Chapter 11 bankruptcy, lays off 500 workers
Reverse|17 hours ago
The move comes after halting all origination activities earlier this month and reportedly laying off a majority of its staff this week.
Down to Business: Bust not expected following drop in housing prices
The Daily Gazette|13 hours ago
Uh-oh. Zillow says my home has lost $7,600 in value, or 2%, over the past 30 days.My neighbors are in the same boat, down 1.5% to 2% in a month’s time.I’m not looking to sell, and homes still seem to turn over quickly in my suburban development,
One can hardly keep up with the bad news these days.
strongest economy evah
Beverly, MA Housing Prices Crater 14% YOY On Surging Housing Inventory As Rental Rates And Demand Plummet Across Boston Area
From the first 9 minute video:
The housing market is about to collapse and you’re about to be hit the hardest!
North Carolina Real Estate
Premiered Nov 29, 2022
The housing market is about to collapse and you’re about to be hit the hardest!
The Black Friday sale Ro spoke about in his last video is coming true. Stores are still full to capacity no merchandise moved due to deflation as we’ve been told by the media outlets. In 2023 we are going to see massive layoffs due to store deflation which will lead to more homes coming on the market and home prices will collapse greatly. Raleigh real estate market will hold up for now but the events leading up to 2023 will decide if Raleigh NC housing will fall.
The second 4:42 video:
FORT WORTH
Dallas Fort Worth Housing Market Continues Downward Spiral
Living in Fort Worth with Keela & Torrey
Nov 29, 2022
The Dallas Fort Worth Housing Market Continues to Soften here in Dallas-Fort Worth Texas as Interest Rates continue to rise. Interest rates finally hit 7% and some say they could go as high as 10% before they finally begin to go down again.
The third 13:42 video:
Buyer Beware In Brampton, Mississauga & Durham Real Estate
Team Sessa Real Estate
Nov 30, 2022
Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Nov 17 – Nov 23, 2022.
You Should Probably Wait to Buy a Home
https://www.msn.com/en-us/money/realestate/you-should-probably-wait-to-buy-a-home/ar-AA14JtiG
“Low inventory. Why has the extraordinary surge in borrowing costs not led to falling prices? Because inventory is low, housing experts told me. “Listings are down 20 percent from last year,” Fairweather said. “If you already own a home and you locked in a low interest rate, you don’t really have a reason to sell right now. And if you wanted to sell, you probably would have sold last year or the year before, when the market was really hot.”
The tea leaves say otherwise.
But housing experts I spoke with concurred that many families might want to consider waiting, if they can. Here are five reasons:
-Staggering prices.
-Sharply rising mortgage costs.
-Low inventory. <- – – – – – – – – huh?
-The stock-market decline.
-Uncertainty everywhere.
In a surprising turn of events, applications for San Diego’s first-ever vacation rental licenses have fallen short of a new city-imposed cap, meaning that a planned lottery will no longer be necessary.
“I’m shocked and a little concerned as well because I wanted to make sure that people who do run these businesses didn’t miss out on this opportunity,” said Venus Molina, chief of staff for Councilwoman Jennifer Campbell, whose office originally helped broker a compromise plan for regulating short-term stays after multiple stumbles in the past. “I’m thinking that maybe a lot of people haven’t applied or maybe people just don’t want to deal with this and may want to just rent (their homes) full time.”
https://www.msn.com/en-us/travel/news/san-diego-lottery-for-vacation-rental-licenses-a-no-go-as-applications-fall-short-of-city-imposed-cap/ar-AA14LmIf
Revenue from required license fees, which is $1,000 for a two-year license, will be crucial for funding the administration and enforcement of the new regulations. City officials had previously estimated that applications for the first round of all types of short-term rentals could generate more than $7 million. That funding may now fall short. “We will have to take a look at that — the code enforcement funding,” Molina said. “We may have to go back to the drawing board but at the end of the day this is happening, we’re going to get it done, and enforcement starts May 1. From now until then, we’ll figure all this other stuff out.”
The magic 8 ball says the license fees will likely increase.
the all seeing eye says all the law breakers running STR’s are not interesting in applying for a license/new tax. They are already breaking lord knows how many laws to run a hotel in a residential area with no insurance or safety regulations, what do they care about one more law?
Spring inventory?
Banc of California sues Sprout Mortgage, Planet Home Lending
HousingWire|17 hours ago
Banc of California is claiming that the mortgage lenders and servicers owe $1.5 million related to the proceeds of two notes it owned and funded.
LaSalle Street tower owner hit with massive foreclosure lawsuit
Crain’s Chicago Business|11 hours ago
The owner of a LaSalle Street office tower that lost its biggest tenant early in the COVID-19 pandemic is facing one of the largest foreclosure lawsuits involving a downtown office building since the public health crisis began.
Lumber Dives. The Housing Slowdown Killed Demand.
Barron’s|16 minutes ago
Weaker demand for lumber has weighed on prices, making it one of the biggest commodity price decliners this year. The outlook isn’t good, either.
Home prices are falling at the fastest rate in 15 years. 7 real estate analysts and economists break down how bad they think it’s going to get.
Business Insider|17 hours ago
All 7 experts said home prices, which have already started to dip, will drop even further in 2023 for two reasons — fading affordability and demand.
Report: San Jose housing sales to plummet in 2023
The Business Journals|19 hours ago
The San Jose area is predicted to see the second largest drop in housing activity of all 102 metro areas included in a recent forecast.
The mortgage market right-sizing is well underway. When will normalcy return?
HousingWire|12 hours ago
The mortgage market’s restructuring will inflict pain, but it may be the only path to a new normal, industry experts tell HousingWire.
Inlanta Mortgage plans layoffs, closure
The Business Journals|12 hours ago
In a letter to the state, the company’s president cited a “dramatic and unanticipated drop in mortgage product demand.”
RMF files for Chapter 11 bankruptcy, lays off 500 workers
Reverse|17 hours ago
The move comes after halting all origination activities earlier this month and reportedly laying off a majority of its staff this week.
Down to Business: Bust not expected following drop in housing prices
The Daily Gazette|13 hours ago
Uh-oh. Zillow says my home has lost $7,600 in value, or 2%, over the past 30 days.My neighbors are in the same boat, down 1.5% to 2% in a month’s time.I’m not looking to sell, and homes still seem to turn over quickly in my suburban development,
One can hardly keep up with the bad news these days.
strongest economy evah
Beverly, MA Housing Prices Crater 14% YOY On Surging Housing Inventory As Rental Rates And Demand Plummet Across Boston Area
https://www.movoto.com/beverly-ma/market-trends/
As one Boston broker explained, “Housing inventory has tripled in just 5 months and continues to soar.”