A report from CNBC. "'I am seeing homebuyers cancel a contract if their payment is…
This Post Has 14 Comments
From the first 1:40 video:
High interest rates behind change in housing market
CBS Philadelphia
Dec 5, 2022
The second 2:30 video:
What is happening in today’s real estate market? | Colorado Springs Real Estate 12/5/2022
Laura Gallant
Dec 5, 2022
What is happening in today’s real estate market? The nationwide depreciation in October 2002 was 1%. In Colorado Springs we see decreases in prices still as the market is correcting. Increased interest rates and their fluctuation certainly has buyers and sellers sitting on the sidelines.
The third 1:30 video:
Arizona homeowners see increase in mortgage rates
12 News
Dec 5, 2022
Many Arizona homeowners owe more on their mortgage than their house is worth.
The fourth 1:46 video:
Housing prices drop across the Bay Area
KRON 4
Dec 5, 2022
The fifth 5:24 video:
Toronto Home Sales NOSE DIVE in November: Slowest Month Of The Year
Honest real estate talk
Dec 6, 2022
Toronto real estate market continues to struggle ever since Bank Of Canada started increasing the rates. November was the slowest month of the year so far.
Get a 4 year comparison in average prices for the Toronto area real estate market.
Halton, Peel, Toronto, York and Durham regions are covered in this video.
The sixth 12:44 video:
What Does The New Rate Hike Mean For Toronto Home Prices?
Team Sessa Real Estate
Dec 6, 2022
Toronto Real Estate Market Report for the week of Nov 24 – Nov 30, 2022.
The areas that are likely to see prices fall the most are where they rose the most in recent years, according to the report.
Migration hotspots like Austin, Boise and Phoenix are expected to see the biggest drops, “largely because the huge increases over the last two years leave a lot of room for prices to decline,” Mr. Marr continued. “Expensive West Coast cities are also likely to see outsized price declines because of stumbling tech stocks and the shift to remote work pushing so many people out of those markets.”
“Following the recent mortgage rate surge above 7%, real estate activity and consumer sentiment regarding the housing market took a nosedive,” said Selma Hepp, Interim Lead of the Office of the Chief Economist at CoreLogic. “Home price growth continued to approach single digits in October, and it will move in that direction for the rest of the year and into 2023.”
“However,” Hepp continued, “while some housing markets have seen significant recalibration since the spring price peak and are likely to post losses in 2023, further deteriorating for-sale inventory, some relief in mortgage rate increases and relatively positive economic news may help eventually stabilize home prices.”
The wild days of rapid-fire Okanagan real estate sales have faded into history — for the time being, anyway. “Although the numbers seem far below what we have become accustomed to, comparing sales from this year to last year would be like comparing apples to oranges,” Association of Interior Realtors president Lyndi Cruickshank said in a press release.
“Comparing to a typical seasonal pre-pandemic November would represent a more accurate comparison over the frenzied market over the last few years, (showing) that we are currently not that far off from an average November.”
In Central Okanagan, there were 120 single-family home sales, which was a drop year over year of 52.4 per cent. It took an average of 57 days to sell a home, which is 60.5 per cent more than what happened a year earlier and there were 862 homes listed, a rise of 143.5 per cent from the year earlier.
‘comparing sales from this year to last year would be like comparing apples to oranges’
Can we all just pretend 2020 to early 2022 didn’t happen?
The continued slowdown in the US housing market has taken its toll on lumber prices, which fell to its lowest level since June 2020 on Monday.
The essential building commodity tumbled 9% in three days to a low of $382.80 per thousand board feet, below the $400 level that has served as key resistance since 2013. Lumber rebounded slightly on Tuesday, up about 5% to $411. Prices are down 64% year-to-date.
the $400 level that has served as key resistance since 2013.
Try $200.
What we are witnessing at the moment is a right-wing government trying to cause havoc and assert rights it doesn’t have all in the name of bullying a Liberal government in Ottawa that it finds ideologically abhorrent.
The Alberta Premier does not believe Ottawa has the right or authority to impose measures related to climate change on her province. There is no other way to read her actions. She thinks her province is best able to do this. She doesn’t think Ottawa has the right to enforce gun control laws either. She doesn’t think there should be any strings attached to any money Ottawa hands out for things such as child or health care.
In the Premier’s eyes, Ottawa is merely a tax collector that should be dividing those funds up equally among the provinces. And beyond that, they shouldn’t play much of a role except around foreign policy and national defence. The provinces are the ones that run Canada, not the other way around.
Her so-called sovereignty act doesn’t even respect the powers and rights of the Supreme Court of Canada. One must ask, if you don’t agree with the constitutional structure of this country, why stay in it at all?
No one in charge in Alberta at the moment has any interest in forming a reasonable relationship with Ottawa because that would upset the “freedom convoy” and Make America Great Again folks, largely based in Alberta, who believe the federal government is encroaching on too many aspects of their lives.
Ms. Smith is with them. Alberta hasn’t had leadership like this in several decades, if ever. These are nervous times for the province, for the country as well.
In the recession scenario, California’s economy declines, but by less than the nation’s GDP. The state’s jobless rate is expected to average 4.3% this year, 4.4% in 2023 and 4.5% in 2024.
Employment growth rates would be 5.1% this year, 0.5% in 2023 and 0.5% for 2024. That would lift California’s nonfarm workforce from 17.5 million in 2022 to 17.7 million in 2024.
Under this weaker economic projection, residential building permits in California would total 120,500 in this year, 115,700 in 2023 and 134,500 in 2024.
There are additional factors to consider: “In the last California report we documented the slowdown in goods movements through the seaports and airports of the state,” the report said. “The new data does not change the picture. The growth in goods movement has slowed to a crawl.”
Apple has scaled back ambitious self-driving plans for its future electric vehicle and postponed the car’s target launch date by about a year to 2026, according to people with knowledge of the matter.
The car project, dubbed Titan inside the company, has been in limbo for the last several months as Apple executives grappled with the reality that its vision for a fully autonomous vehicle — without a steering wheel or pedals — isn’t feasible with current technology.
In a significant shift for the project, the company is now planning a less-ambitious design that will include a steering wheel and pedals and support full autonomous capabilities only on highways, said the people, who asked not to be identified because the information is private.
Apple’s previous vision for the car was to offer “Level 5” autonomy — the pinnacle of self-driving technology, which no automaker has attained. The current plan is considered below that because of its more limited scope.
This steaming pile of a company isn’t a car maker. It does well in the slave labor markets in China.
We’ve had all this shack crater going on and the LA Times has hardly mentioned it. Typical. The Orange Country Register runs circles around them with just a couple-three writers.
Redmond, WA Housing Prices Crater 27% YOY As Ballooning Housing Inventory Rots On The Vine As Tech Layoffs Accelerate
From the first 1:40 video:
High interest rates behind change in housing market
CBS Philadelphia
Dec 5, 2022
The second 2:30 video:
What is happening in today’s real estate market? | Colorado Springs Real Estate 12/5/2022
Laura Gallant
Dec 5, 2022
What is happening in today’s real estate market? The nationwide depreciation in October 2002 was 1%. In Colorado Springs we see decreases in prices still as the market is correcting. Increased interest rates and their fluctuation certainly has buyers and sellers sitting on the sidelines.
The third 1:30 video:
Arizona homeowners see increase in mortgage rates
12 News
Dec 5, 2022
Many Arizona homeowners owe more on their mortgage than their house is worth.
The fourth 1:46 video:
Housing prices drop across the Bay Area
KRON 4
Dec 5, 2022
The fifth 5:24 video:
Toronto Home Sales NOSE DIVE in November: Slowest Month Of The Year
Honest real estate talk
Dec 6, 2022
Toronto real estate market continues to struggle ever since Bank Of Canada started increasing the rates. November was the slowest month of the year so far.
Get a 4 year comparison in average prices for the Toronto area real estate market.
Halton, Peel, Toronto, York and Durham regions are covered in this video.
The sixth 12:44 video:
What Does The New Rate Hike Mean For Toronto Home Prices?
Team Sessa Real Estate
Dec 6, 2022
Toronto Real Estate Market Report for the week of Nov 24 – Nov 30, 2022.
The areas that are likely to see prices fall the most are where they rose the most in recent years, according to the report.
Migration hotspots like Austin, Boise and Phoenix are expected to see the biggest drops, “largely because the huge increases over the last two years leave a lot of room for prices to decline,” Mr. Marr continued. “Expensive West Coast cities are also likely to see outsized price declines because of stumbling tech stocks and the shift to remote work pushing so many people out of those markets.”
https://www.mansionglobal.com/articles/u-s-home-sales-in-2023-set-to-slow-to-lowest-level-in-a-decade-01670350066
“Following the recent mortgage rate surge above 7%, real estate activity and consumer sentiment regarding the housing market took a nosedive,” said Selma Hepp, Interim Lead of the Office of the Chief Economist at CoreLogic. “Home price growth continued to approach single digits in October, and it will move in that direction for the rest of the year and into 2023.”
“However,” Hepp continued, “while some housing markets have seen significant recalibration since the spring price peak and are likely to post losses in 2023, further deteriorating for-sale inventory, some relief in mortgage rate increases and relatively positive economic news may help eventually stabilize home prices.”
https://dsnews.com/news/12-06-2022/yoy-home-prices-up
The wild days of rapid-fire Okanagan real estate sales have faded into history — for the time being, anyway. “Although the numbers seem far below what we have become accustomed to, comparing sales from this year to last year would be like comparing apples to oranges,” Association of Interior Realtors president Lyndi Cruickshank said in a press release.
“Comparing to a typical seasonal pre-pandemic November would represent a more accurate comparison over the frenzied market over the last few years, (showing) that we are currently not that far off from an average November.”
In Central Okanagan, there were 120 single-family home sales, which was a drop year over year of 52.4 per cent. It took an average of 57 days to sell a home, which is 60.5 per cent more than what happened a year earlier and there were 862 homes listed, a rise of 143.5 per cent from the year earlier.
https://www.msn.com/en-ca/money/finance-real-estate/okanagan-real-estate-market-heads-into-dramatic-winter-cool-down/ar-AA14Z9J6
‘comparing sales from this year to last year would be like comparing apples to oranges’
Can we all just pretend 2020 to early 2022 didn’t happen?
The continued slowdown in the US housing market has taken its toll on lumber prices, which fell to its lowest level since June 2020 on Monday.
The essential building commodity tumbled 9% in three days to a low of $382.80 per thousand board feet, below the $400 level that has served as key resistance since 2013. Lumber rebounded slightly on Tuesday, up about 5% to $411. Prices are down 64% year-to-date.
https://sports.yahoo.com/lumber-falls-lowest-level-since-174347198.html
the $400 level that has served as key resistance since 2013.
Try $200.
What we are witnessing at the moment is a right-wing government trying to cause havoc and assert rights it doesn’t have all in the name of bullying a Liberal government in Ottawa that it finds ideologically abhorrent.
The Alberta Premier does not believe Ottawa has the right or authority to impose measures related to climate change on her province. There is no other way to read her actions. She thinks her province is best able to do this. She doesn’t think Ottawa has the right to enforce gun control laws either. She doesn’t think there should be any strings attached to any money Ottawa hands out for things such as child or health care.
In the Premier’s eyes, Ottawa is merely a tax collector that should be dividing those funds up equally among the provinces. And beyond that, they shouldn’t play much of a role except around foreign policy and national defence. The provinces are the ones that run Canada, not the other way around.
Her so-called sovereignty act doesn’t even respect the powers and rights of the Supreme Court of Canada. One must ask, if you don’t agree with the constitutional structure of this country, why stay in it at all?
No one in charge in Alberta at the moment has any interest in forming a reasonable relationship with Ottawa because that would upset the “freedom convoy” and Make America Great Again folks, largely based in Alberta, who believe the federal government is encroaching on too many aspects of their lives.
Ms. Smith is with them. Alberta hasn’t had leadership like this in several decades, if ever. These are nervous times for the province, for the country as well.
https://www.theglobeandmail.com/opinion/article-make-no-mistake-the-alberta-government-has-been-hijacked-by-the/
Darn those little people who want their rights.
In the recession scenario, California’s economy declines, but by less than the nation’s GDP. The state’s jobless rate is expected to average 4.3% this year, 4.4% in 2023 and 4.5% in 2024.
Employment growth rates would be 5.1% this year, 0.5% in 2023 and 0.5% for 2024. That would lift California’s nonfarm workforce from 17.5 million in 2022 to 17.7 million in 2024.
Under this weaker economic projection, residential building permits in California would total 120,500 in this year, 115,700 in 2023 and 134,500 in 2024.
There are additional factors to consider: “In the last California report we documented the slowdown in goods movements through the seaports and airports of the state,” the report said. “The new data does not change the picture. The growth in goods movement has slowed to a crawl.”
https://www.msn.com/en-us/money/markets/california-economy-a-soft-landing-or-a-mild-recession/ar-AA150eyZ
Talk about whistling past the graveyard.
Pair who ran Ponzi scheme with Kings Mountain investment company sentenced
https://news.yahoo.com/2-men-ran-ponzi-scheme-163057561.html
Apple has scaled back ambitious self-driving plans for its future electric vehicle and postponed the car’s target launch date by about a year to 2026, according to people with knowledge of the matter.
The car project, dubbed Titan inside the company, has been in limbo for the last several months as Apple executives grappled with the reality that its vision for a fully autonomous vehicle — without a steering wheel or pedals — isn’t feasible with current technology.
In a significant shift for the project, the company is now planning a less-ambitious design that will include a steering wheel and pedals and support full autonomous capabilities only on highways, said the people, who asked not to be identified because the information is private.
Apple’s previous vision for the car was to offer “Level 5” autonomy — the pinnacle of self-driving technology, which no automaker has attained. The current plan is considered below that because of its more limited scope.
https://www.latimes.com/business/story/2022-12-06/apple-scales-back-self-driving-car-debut-2026
This steaming pile of a company isn’t a car maker. It does well in the slave labor markets in China.
We’ve had all this shack crater going on and the LA Times has hardly mentioned it. Typical. The Orange Country Register runs circles around them with just a couple-three writers.
Redmond, WA Housing Prices Crater 27% YOY As Ballooning Housing Inventory Rots On The Vine As Tech Layoffs Accelerate
https://www.movoto.com/wa/98053/market-trends/
As one Redmond broker declared, “We’re inundated with housing inventory…. and there isn’t a buyer in sight at any price.”