Is a 40% Correction Coming?
Owen Bigland
Jan 31, 2023
For every 100 basis point hike (1%) in borrowing rates, home prices would need to come down a corresponding 10% to match affordability. Do I think Vancouver home prices are headed for that type of correction? So far condo prices have barely been touched and affordability is at an all time low. The main reasons is inventory which remains ultra low as sellers are holding firm for now.
The second 17:41 video:
Santa Clara’s Highest and LOWEST SOLDS Good story about F*@K Around and Find Out!
Silicon Valley Living
Streamed live 16 hours ago
Week in and week out.
Hi’s and Lo’s Let’s take a look!
F*@K Around and Find Out!
The third 11:43 video:
High Interest Rates May Force Toronto Homeowners Into Power of Sale
Prime Properties TO
Jan 31, 2023
The fourth 19 minute video:
Don’t Fall For This Realtor Trick in Toronto Real Estate – Jan 25
Team Sessa Real Estate
Jan 31, 2023
Toronto Real Estate Market Report for the week of Jan 18 – Jan 25, 2023.
The fifth 10 minute video:
Bank of Canada Predicts LOWER Home Prices, 2023 Canadian Real Estate Market
Jon Flynn Broker of Record, Flynn Real Estate Inc.
Jan 31, 2023
I try out the new AI App, ChatGPT to see how it can help me in my daily business, then I make an unusual comparison to land prices in my region and lastly discuss the Bank of Canada’s latest interest rate announcement and how it will affect real estate.
PayPal will dump 7% of its workforce, or about 2,000 people, in the coming weeks, the online payments company announced Tuesday.
Phoenix sees largest drop in home price growth nationwide
The Business Journals|15 hours ago
Despite talk of a recession, some homebuyers are re-entering the market as mortgage rates drop to the low 6% range.
Hong Kong Housing Slump Pushes Negative Equity to 18-Year High
Bloomberg L.P.|11 hours ago
The number of people in Hong Kong whose homes are worth less than their mortgages surged to an 18-year high as the financial hub struggles with the worst housing slump in more than a decade.
A once-trendy Manhattan hotel has become a wild “free-for-all” of sex, drugs and violence after the city began housing migrants there, an employee claimed Tuesday.
Row NYC worker Felipe Rodriguez — who told The Post earlier this month that migrants were throwing away “tons” of prepared food at the hotel — said the facility has now descended into “total chaos.
“Chaos, total chaos,” Rodriguez told “Fox & Friends” when asked to describe conditions at the hotel. “There’s no accountability.
“There is no daily supervision to show these people that … ‘You don’t destroy your hotel. You are only there temporarily. This is not your home.
“[The employees] endure a lot of disrespect from the migrants, and there [are] some nice migrants, but there’s too much alcohol, too much drugs and too much violence, and you have teenagers … going into the staircases and making out like it’s Lover’s Lane,” Rodriguez said. “This is a free-for-all.”
“A once-trendy Manhattan hotel has become a wild “free-for-all” of sex, drugs and violence after the city began housing migrants there, an employee claimed Tuesday.”
Change the name to “Hotel California.”
A weekend shooting in which three women were killed at a short-term rental home in an upscale Los Angeles neighborhood was a targeted attack, the city’s police chief said Tuesday as investigators continued to search for suspects.
Four other people were wounded, two critically, when gunfire erupted around 2:30 a.m. Saturday at the property in the Beverly Crest area, the Los Angeles Police Department said.
The chief said the shooting “shattered a sense of calm and peace in that neighborhood,” where large and expensive houses are nestled in the Santa Monica Mountains. The home, estimated at $3 million, is on a cul-de-sac and described in online real estate platforms as modern and private with a pool and outdoor shower.
Funny how certain demographics settle their disagreements with bullets.
Bank that’s shutting down part of mortgage lending operations to lay off St. Louis-area workers
The Business Journals|16 hours ago
A bank that earlier this month said it would shut down part of its mortgage lending operations amid dwindling origination activity is planning to lay off some St. Louis-area workers.
NYCB to shutter Flagstar mortgage offices in 26 states
Newsday|3 hours ago
The move comes two months after NYCB closed on its $2.6 billion acquisition of Troy, Michigan-based Flagstar Bancorp and will cover all standalone Flagstar loan offices in 26 states, which includes a Long Island unit in Garden City.
Flagstar Bank confirms layoffs, big restructuring in wake of merger
Detroit Free Press on MSN.com|19 hours ago
The Flagstar Bank layoff notices were handed down Thursday and represented about 10% of all employees at the newly combined bank.
LendingTree eliminated about 200 jobs amid rising interest rates
The Business Journals|1 day ago
Elevated interest rates and inflation at 40-year highs in the U.S. further pressured consumer demand for mortgage loans and carrier appetite for new insurance policies,” LendingTree said.
After mortgage lenders shut down, what’s next for loan originators?
HousingWire|14 hours ago
When looking for new lenders, the mortgage product mix, compensation, speed and cultural fit are all factors to consider, LOs say.
NYCB confirms cuts to retail mortgage channel after acquiring Flagstar
HousingWire|15 hours ago
New York Community Bancorp, Inc. (NYCB) confirmed it’s closing 69% of its retail home lending offices after acquiring Flagstar Bank.
First Internet Bank ending consumer-direct mortgage operations
National Mortgage News|22 hours ago
The company spent the last two months cutting sales, marketing and payroll expenses but couldn’t achieve a breakeven point, its CEO said.
From the first 12:31 video:
Is a 40% Correction Coming?
Owen Bigland
Jan 31, 2023
For every 100 basis point hike (1%) in borrowing rates, home prices would need to come down a corresponding 10% to match affordability. Do I think Vancouver home prices are headed for that type of correction? So far condo prices have barely been touched and affordability is at an all time low. The main reasons is inventory which remains ultra low as sellers are holding firm for now.
The second 17:41 video:
Santa Clara’s Highest and LOWEST SOLDS Good story about F*@K Around and Find Out!
Silicon Valley Living
Streamed live 16 hours ago
Week in and week out.
Hi’s and Lo’s Let’s take a look!
F*@K Around and Find Out!
The third 11:43 video:
High Interest Rates May Force Toronto Homeowners Into Power of Sale
Prime Properties TO
Jan 31, 2023
The fourth 19 minute video:
Don’t Fall For This Realtor Trick in Toronto Real Estate – Jan 25
Team Sessa Real Estate
Jan 31, 2023
Toronto Real Estate Market Report for the week of Jan 18 – Jan 25, 2023.
The fifth 10 minute video:
Bank of Canada Predicts LOWER Home Prices, 2023 Canadian Real Estate Market
Jon Flynn Broker of Record, Flynn Real Estate Inc.
Jan 31, 2023
I try out the new AI App, ChatGPT to see how it can help me in my daily business, then I make an unusual comparison to land prices in my region and lastly discuss the Bank of Canada’s latest interest rate announcement and how it will affect real estate.
PayPal will dump 7% of its workforce, or about 2,000 people, in the coming weeks, the online payments company announced Tuesday.
https://news.yahoo.com/paypal-lay-off-2-000-210800123.html
Phoenix sees largest drop in home price growth nationwide
The Business Journals|15 hours ago
Despite talk of a recession, some homebuyers are re-entering the market as mortgage rates drop to the low 6% range.
Hong Kong Housing Slump Pushes Negative Equity to 18-Year High
Bloomberg L.P.|11 hours ago
The number of people in Hong Kong whose homes are worth less than their mortgages surged to an 18-year high as the financial hub struggles with the worst housing slump in more than a decade.
A once-trendy Manhattan hotel has become a wild “free-for-all” of sex, drugs and violence after the city began housing migrants there, an employee claimed Tuesday.
Row NYC worker Felipe Rodriguez — who told The Post earlier this month that migrants were throwing away “tons” of prepared food at the hotel — said the facility has now descended into “total chaos.
“Chaos, total chaos,” Rodriguez told “Fox & Friends” when asked to describe conditions at the hotel. “There’s no accountability.
“There is no daily supervision to show these people that … ‘You don’t destroy your hotel. You are only there temporarily. This is not your home.
“[The employees] endure a lot of disrespect from the migrants, and there [are] some nice migrants, but there’s too much alcohol, too much drugs and too much violence, and you have teenagers … going into the staircases and making out like it’s Lover’s Lane,” Rodriguez said. “This is a free-for-all.”
https://nypost.com/2023/01/31/migrants-turn-nyc-hotel-into-violent-drug-infested-free-for-all-employee-says/
Future doctors and astronauts
“A once-trendy Manhattan hotel has become a wild “free-for-all” of sex, drugs and violence after the city began housing migrants there, an employee claimed Tuesday.”
Change the name to “Hotel California.”
A weekend shooting in which three women were killed at a short-term rental home in an upscale Los Angeles neighborhood was a targeted attack, the city’s police chief said Tuesday as investigators continued to search for suspects.
Four other people were wounded, two critically, when gunfire erupted around 2:30 a.m. Saturday at the property in the Beverly Crest area, the Los Angeles Police Department said.
The chief said the shooting “shattered a sense of calm and peace in that neighborhood,” where large and expensive houses are nestled in the Santa Monica Mountains. The home, estimated at $3 million, is on a cul-de-sac and described in online real estate platforms as modern and private with a pool and outdoor shower.
https://abcnews.go.com/US/wireStory/chief-fatal-shooting-la-home-targeted-assault-96800164
Funny how certain demographics settle their disagreements with bullets.
Bank that’s shutting down part of mortgage lending operations to lay off St. Louis-area workers
The Business Journals|16 hours ago
A bank that earlier this month said it would shut down part of its mortgage lending operations amid dwindling origination activity is planning to lay off some St. Louis-area workers.
NYCB to shutter Flagstar mortgage offices in 26 states
Newsday|3 hours ago
The move comes two months after NYCB closed on its $2.6 billion acquisition of Troy, Michigan-based Flagstar Bancorp and will cover all standalone Flagstar loan offices in 26 states, which includes a Long Island unit in Garden City.
Flagstar Bank confirms layoffs, big restructuring in wake of merger
Detroit Free Press on MSN.com|19 hours ago
The Flagstar Bank layoff notices were handed down Thursday and represented about 10% of all employees at the newly combined bank.
LendingTree eliminated about 200 jobs amid rising interest rates
The Business Journals|1 day ago
Elevated interest rates and inflation at 40-year highs in the U.S. further pressured consumer demand for mortgage loans and carrier appetite for new insurance policies,” LendingTree said.
After mortgage lenders shut down, what’s next for loan originators?
HousingWire|14 hours ago
When looking for new lenders, the mortgage product mix, compensation, speed and cultural fit are all factors to consider, LOs say.
NYCB confirms cuts to retail mortgage channel after acquiring Flagstar
HousingWire|15 hours ago
New York Community Bancorp, Inc. (NYCB) confirmed it’s closing 69% of its retail home lending offices after acquiring Flagstar Bank.
First Internet Bank ending consumer-direct mortgage operations
National Mortgage News|22 hours ago
The company spent the last two months cutting sales, marketing and payroll expenses but couldn’t achieve a breakeven point, its CEO said.
𝗦𝗽𝗼𝗸𝗮𝗻𝗲, 𝗪𝗔 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲𝗿 𝟮𝟴% 𝗬𝗢𝗬 𝗔𝘀 𝗔𝗽𝗽𝗿𝗮𝗶𝘀𝗮𝗹 𝗙𝗿𝗮𝘂𝗱 𝗕𝗹𝗮𝗻𝗸𝗲𝘁𝘀 𝗪𝗮𝘀𝗵𝗶𝗻𝗴𝘁𝗼𝗻, 𝗢𝗿𝗲𝗴𝗼𝗻 𝗮𝗻𝗱 𝗜𝗱𝗮𝗵𝗼
https://www.movoto.com/spokane-wa/market-trends/
𝘈𝘴 𝘰𝘯𝘦 𝘚𝘱𝘰𝘬𝘢𝘯𝘦 𝘢𝘳𝘦𝘢 𝘣𝘳𝘰𝘬𝘦𝘳 𝘴𝘢𝘪𝘥, “𝘚𝘦𝘭𝘭𝘦𝘳𝘴 𝘢𝘳𝘦 𝘴𝘰 𝘣𝘳𝘰𝘬𝘦 𝘵𝘩𝘦𝘺 𝘥𝘰𝘯’𝘵 𝘩𝘢𝘷𝘦 𝘵𝘸𝘰 𝘥𝘪𝘮𝘦𝘴 𝘵𝘰 𝘳𝘶𝘣 𝘵𝘰𝘨𝘦𝘵𝘩𝘦𝘳. 𝘛𝘩𝘦𝘺 𝘫𝘶𝘴𝘵 𝘸𝘢𝘯𝘵 𝘰𝘶𝘵 𝘧𝘳𝘰𝘮 𝘶𝘯𝘥𝘦𝘳 𝘵𝘩𝘦𝘪𝘳 𝘩𝘰𝘶𝘴𝘦 𝘢𝘵 𝘢𝘯𝘺 𝘤𝘰𝘴𝘵.”