A report from CNBC. "Low rates, combined with more moderate home prices and more desperate…
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From the first 8 minute video:
Brampton Home Sales CRASH 70% in November. Slowest Month So Far.
Vic Singh – Honest real estate talk
Dec 6, 2022
Brampton real estate market suffered from another slow month. The slowest month of the year so far with less than 300 homes sold in all of Brampton. See prices for Brampton detached homes to Brampton condos and see how they’ve compared to the last 4 years.
The second 19 minute video:
Market Update December 2022
Audra Lambert
Dec 6, 2022
Housing Market Shifts in December! There is good news!
This video discusses the changing real estate market in Orange county, California. Inventories, Buyer Demand, Closed Sales, Open Houses, and Seller feedback is covered in this video. The start to the 2023 Housing Market is also discussed.
The third 13 minute video:
REITs & Private Lenders in Trouble, Winter Price Drops Begin in ON and BC, 2022 Canadian Housing
Jon Flynn Broker of Record, Flynn Real Estate Inc.
Dec 6, 2022
Multiple Real Estate Income Trusts (REITs) and Private Mortgage Investment Companies halt investor withdrawals and redemptions due to rising interest rates and liquidity issues. November Statistics for Vancouver, Ontario, Toronto, Calgary, Quebec, Montreal and Halifax.
The fourth 10:17 video:
Where Do Brampton, Mississauga & Durham Home Prices Go From Here? – Nov 30
Team Sessa Real Estate
Dec 7, 2022
Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Nov 24 – Nov 30, 2022. This video will focus specifically on Brampton, Mississauga, Ajax, Whitby, Pickering.
The fifth 8 minute video:
Toronto Real Estate Market November Update: “Roaring Back” Soon?
Mark Mitchell – Mortgage Broker London Ontario
Dec 6, 2022
The Toronto real estate market continued its slide in November, with the Benchmark, Average and Median prices all falling. However, some analysts are predicting the market will come ‘roaring back’ after Toronto’s prices bottom out.
Data:
Benchmark:
October Benchmark Home Price – $1,098,200
November Benchmark Home Price – $1,089,800
Average:
October Average Home Price – $1,089,428
November Average Home Price – $1,079,135
Median:
October Median Home Price – $940,500
November Median Home Price – $920,000
Sales to List Price Ratio (SLPR):
October SP/LP – 98%
November SP/LP – 98%
Months of Inventory:
October Months of Inventory – 1.6
November Months of Inventory – 1.7
Fitch Ratings has downgraded WeWork Cos. to CCC from CCC+, citing recent negative metrics pulling the company down, and the prospect of a weaker economy next year. Default for the coworking company is a real possibility, according to Fitch.
Fitch predicts WeWork would be a going concern should it go bankrupt, and it would be reorganized rather than liquidated. Under a recovery scenario, Fitch expects “significant defaults” on lease payments.
The company also downgraded the company’s senior unsecured bonds a single notch from CCC- to CC.
In the Fitch scheme of ratings, CCC is a substantial credit risk, with default “a real possibility,” while CC means that “default of some kind appears probable.” One more notch below CC and the process of default has begun.
“Fitch is encouraged by meaningful improvements in operating losses during 2022, but the current estimates for 2022 EBITDA in the range of negative $435M to $455M indicates the company still faces significant challenges,” the ratings agency said in a statement.
The downgrades also come after WeWork’s Q3 2022 earnings fell short of Wall Street’s expectations, Bloomberg reports. The company lost $629M in Q3, much more than the consensus estimate of a $367M loss.
From the first 8 minute video:
Brampton Home Sales CRASH 70% in November. Slowest Month So Far.
Vic Singh – Honest real estate talk
Dec 6, 2022
Brampton real estate market suffered from another slow month. The slowest month of the year so far with less than 300 homes sold in all of Brampton. See prices for Brampton detached homes to Brampton condos and see how they’ve compared to the last 4 years.
The second 19 minute video:
Market Update December 2022
Audra Lambert
Dec 6, 2022
Housing Market Shifts in December! There is good news!
This video discusses the changing real estate market in Orange county, California. Inventories, Buyer Demand, Closed Sales, Open Houses, and Seller feedback is covered in this video. The start to the 2023 Housing Market is also discussed.
The third 13 minute video:
REITs & Private Lenders in Trouble, Winter Price Drops Begin in ON and BC, 2022 Canadian Housing
Jon Flynn Broker of Record, Flynn Real Estate Inc.
Dec 6, 2022
Multiple Real Estate Income Trusts (REITs) and Private Mortgage Investment Companies halt investor withdrawals and redemptions due to rising interest rates and liquidity issues. November Statistics for Vancouver, Ontario, Toronto, Calgary, Quebec, Montreal and Halifax.
The fourth 10:17 video:
Where Do Brampton, Mississauga & Durham Home Prices Go From Here? – Nov 30
Team Sessa Real Estate
Dec 7, 2022
Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Nov 24 – Nov 30, 2022. This video will focus specifically on Brampton, Mississauga, Ajax, Whitby, Pickering.
The fifth 8 minute video:
Toronto Real Estate Market November Update: “Roaring Back” Soon?
Mark Mitchell – Mortgage Broker London Ontario
Dec 6, 2022
The Toronto real estate market continued its slide in November, with the Benchmark, Average and Median prices all falling. However, some analysts are predicting the market will come ‘roaring back’ after Toronto’s prices bottom out.
Data:
Benchmark:
October Benchmark Home Price – $1,098,200
November Benchmark Home Price – $1,089,800
Average:
October Average Home Price – $1,089,428
November Average Home Price – $1,079,135
Median:
October Median Home Price – $940,500
November Median Home Price – $920,000
Sales to List Price Ratio (SLPR):
October SP/LP – 98%
November SP/LP – 98%
Months of Inventory:
October Months of Inventory – 1.6
November Months of Inventory – 1.7
Links:
Market Watch November 2022:
https://trreb.ca/files/market-stats/m…
Market Watch October 2022:
https://trreb.ca/files/market-stats/m…
Toronto Regional Real Estate Board – Historic Statistics:
https://trreb.ca/files/market-stats/m…
GTA Home Prices Slide 7% in November, New Listings Hit Historical Low:
https://storeys.com/gta-home-prices-d…
Toronto home prices have fallen ‘substantially,’ RBC says. This is when they could bottom out:
https://toronto.ctvnews.ca/toronto-ho…
Posthaste: Could the worst be over for Canada’s biggest housing market?:
https://financialpost.com/executive/e…
House prices are dropping and real estate investing is looking more attractive — here’s how to do it right and make money long term:
https://www.thestar.com/business/pers…
Toronto home buyers waiting for bargains:
https://www.theglobeandmail.com/real-…
‘Promising’ outlook ahead for housing market: executive:
https://www.mpamag.com/ca/mortgage-in…
Interest Rate Hikes Drive Down Home Sales and New Listings in November:
https://financialpost.com/globe-newsw…
Posthaste: What the Bank of Canada hike will mean for mortgage borrowers:
https://financialpost.com/executive/e…
Interest Rates: Immediate Rates ( 24 Hrs): Prime Rates: Total for Canada:
https://fred.stlouisfed.org/series/IR…
Inflation, consumer prices for Canada:
https://fred.stlouisfed.org/series/FP…
Consumer price index portal:
https://www.statcan.gc.ca/en/subjects…
Food prices set to soar again in 2023, new study finds:
https://ca.finance.yahoo.com/news/foo…
Fitch Ratings has downgraded WeWork Cos. to CCC from CCC+, citing recent negative metrics pulling the company down, and the prospect of a weaker economy next year. Default for the coworking company is a real possibility, according to Fitch.
Fitch predicts WeWork would be a going concern should it go bankrupt, and it would be reorganized rather than liquidated. Under a recovery scenario, Fitch expects “significant defaults” on lease payments.
The company also downgraded the company’s senior unsecured bonds a single notch from CCC- to CC.
In the Fitch scheme of ratings, CCC is a substantial credit risk, with default “a real possibility,” while CC means that “default of some kind appears probable.” One more notch below CC and the process of default has begun.
“Fitch is encouraged by meaningful improvements in operating losses during 2022, but the current estimates for 2022 EBITDA in the range of negative $435M to $455M indicates the company still faces significant challenges,” the ratings agency said in a statement.
The downgrades also come after WeWork’s Q3 2022 earnings fell short of Wall Street’s expectations, Bloomberg reports. The company lost $629M in Q3, much more than the consensus estimate of a $367M loss.
https://www.bisnow.com/national/news/coworking/fitch-downgrades-wework-default-a-real-possibility-116654
Fitch Ratings has downgraded WeWork Cos
Why rent desks when employees will provide their own?
Park City, UT Housing Prices Crater 29% YOY As Mortgage And Appraisal Fraud Cripples US Housing Market
https://www.movoto.com/park-city-ut/market-trends/
As one broker conceded, “Of course fraud is rampant. It’s how we profit.”