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Defaults On The Rise, Buyers Can’t Close

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  1. From the first 11 minute video:

    Real Estate Investments Gone Wrong In Brampton, Mississauga & Durham – Dec 14
    Team Sessa Real Estate
    Dec 21, 2022 CANADA
    Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Dec 8 – Dec 14, 2022.

    The second 11:38 video:

    Real Estate Market Shift in Scripps Ranch (92131)
    Eric and Deva Edelman – San Diego Homes
    Dec 20, 2022
    Today we’re taking a look at the housing market in Scripps Ranch (92131) to see how prices have changed since the peak of the market.

    The third 14 minute video:

    Mortgage Defaults on the Rise, Buyers Can’t Close, 2022 Canadian Housing Market
    Jon Flynn Broker of Record, Flynn Real Estate Inc.
    Dec 20, 2022
    There is early reports of Mortgage Defaults due to rising interest rates and a slowing Canadian Economy. Pre-construction buyers buyers are unable to close on new homes due to increased qualification demands, low appraisal values and overall slow real estate market and of course I go over the November Canadian Real Estate Association Statistics.

  2. Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty to charges tied to FTX’s collapse, U.S. Attorney Damian Williams announced Wednesday night.

    The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) also announced charges against the two, saying Ellison manipulated the price of FTT, an exchange token issued by FTX, at exchange founder Sam Bankman-Fried’s direction.

    The duo are cooperating with investigators, Williams announced. The U.S. Attorney for the Southern District of New York (SDNY) did not specify what they were being charged with. Court records were not immediately available.

    FTX founder Sam Bankman-Fried was charged with eight crimes by the SDNY earlier this month after he was arrested in Nassau. The charges include money laundering, wire fraud, securities fraud, and campaign finance violations. He is being extradited to the U.S., Williams confirmed in his statement, saying that the FTX founder was in FBI custody and would appear in court “as soon as possible.”

    https://finance.yahoo.com/news/alamedas-caroline-ellison-ftxs-gary-021723555.html

  3. Germany is set to boost its reliance on coal as it battles an unprecedented energy crisis — even at the expense of its ambitious climate goals. Europe’s largest economy is burning the fossil fuel for electricity at the fastest pace in at least six years, data compiled by Bloomberg show. It’s also poised to be one of the few nations to increase coal imports next year.

    https://finance.yahoo.com/news/germany-returns-coal-energy-security-000100762.html

    1. Germany is set to boost its reliance on coal as it battles an unprecedented energy crisis — even at the expense of its ambitious climate goals.
      I hope the US sees this and realizes we need to scrap the “ambitious (BS) climate goals” because they are not achievable if we want to maintain our standard of living.

      1. If by “the US” you mean the federal government, don’t hold your breath.

        Meanwhile, during this freeze Xcel announced that due to wholesale price increases nat gas rates are going up. This has generated a firestorm on NextDoor. Of course, almost no one there sees this as an issue of supply and demand. They don’t believe that more drilling will lower prices. Telling them “you voted for this” has zero effect. Many of them are even blaming the high prices on Russia.

        All I can do is be glad I can still afford to heat my home. If the idiots can’t, well, they voted for it.

        Meanwhile, our good friend Chad McWhinney wants to drill a fracking well just eat of town. The same people complaining about high prices are screaming bloody murder over this.

        You just can’t fix stupid.

        1. They will literally have to freeze in the dark before they will understand.

          Just like here in LA. Nextdoor is full of people screaming about crime and homelessness and yet they doubled-down this last election.

          Let. it. burn.

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