Your Home Is Not Selling

1. From the first 8:41 video:

   Ottawa, Is Now a Good Time to Buy a New Build?
   Roch St-Georges
   Premiered Jan 31, 2023
   Housing starts in Canada is trending down, they are up however in Ontario. It is important to note that although housing starts are up, they are down for the construction of single-family detached homes. Builders are concentrating on townhomes, urban towns and condo apartment properties.

   We are seeing an increase in newly built listing hitting the Ottawa MLS market. 10% of all listed properties were built in 2022 and of these 88.7% are sitting vacant. Will buyers show up to buy these newly built homes?

   The second 1:24 video:

   Your Home In Barrie Is Not Selling
   Mark Turcotte
   Jan 31, 2023
   Barrie Realtor Mark Turcotte, discussing why some homes are not selling in the Barrie housing market. The number one is reason is price, if you own a home over 1 million to 1.6 it will take you on average to sell that property in Barrie. With several price changes if it is not priced correctly for the market. Higher rates have put a damper on higher priced homes, as less people qualify.

   The third 19:14 video:

   What Are Home Buyers Thinking In Brampton, Mississauga & Durham? – Jan 25
   Team Sessa Real Estate
   Feb 1, 2023

   Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Jan 19 – Jan 25, 2023.

   1. Team Sessa

      Price is off 25 – 30% YoY. Sales are way down. “Inventory” 5 x last year. He’s in touch with buyer’s and seller’s Feelings. However, it is not a buyer’s market and he has no idea where this is headed.

2. ‘We’re about to go bust’: Recession predicted during annual Lakeland Chamber event
   Tennessean|16 hours ago
   Wesbury pointed to recent reports of downturns in the housing and automobile industries as evidence there will be a recession in 2023. Further, manufacturing indices are below 50 across the country and small business optimism has fallen. Government …

   Santander braces for 10% plunge in house prices and rising borrower defaults
   Evening Standard on MSN.com|1 hour ago
   Santander braces for 10% plunge in house prices and rising borrower defaults – The UK bank put by £321 million for bad debts in 2022, including a further £65 million in the fourth quarter ahead of a

   NAB survey predicts WA property prices to plummet in 2023
   Sydney Morning Herald|19 hours ago
   A new survey of property professionals has revealed property prices are expected to plummet over the next year, but rent prices are still on the rise.

   More Layoff In Offing: FedEx Cuts Top Management Jobs As Part Of Larger Staff Reduction
   India.com on MSN.com|6 hours ago
   The latest cuts bring FedEx’s total employee reductions to 12,000 since June, a spokeswoman said. As of May, the company had 345,000 full-time workers, according to a regulatory filing.

   Exclusive: EV maker Rivian to cut 6% of jobs amid price war -internal memo
   Reuters on MSN.com|18 hours ago
   Rivian Automotive is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry-wide price war.

   Chinese cities are struggling to pay their bills as ‘hidden debts’ soar
   News Channel Nebraska|23 hours ago
   Three years of strict pandemic controls in China and a real estate crash have drained local government coffers, leaving authorities across the country struggling with mountains of debt. The problem has gotten so extreme that some cities are now unable to provide basic services

3. Blackstone Inc.’s $69 billion real estate trust hit a monthly redemption limit in January, as the firm’s crown jewel continues to wrestle with a line of investors seeking to get money out.

   Blackstone Real Estate Income Trust told investors Wednesday that it fulfilled repurchase requests for 2% of its net asset value. That accounted for about 25% of what investors wanted to pull out, according to a letter. January repurchase requests were north of $5 billion, according to Bloomberg calculations.

   Blackstone President Jon Gray had previously cautioned that a chunk of redemptions in January involved unfulfilled requests from November and December.

   January requests were “in line with the aggregate unfulfilled amount for November and December,” Blackstone said in a statement Wednesday. “We expect it will take some time to work through this backlog and that flows will normalize over time as BREIT continues to deliver for investors.”

   Blackstone built BREIT into a massive real estate trust owning properties from Las Vegas’s lavish Bellagio hotel and casino to student housing and storage centers. Its success helped expand the private equity firm’s reach with rich individuals.

   But the trust faced challenges last year as more investors sought to pull money out, given volatile markets. BREIT hit redemption limits toward the end of last year, causing it to restrict how much investors could take out in December.

   https://ca.finance.yahoo.com/news/blackstone-69-billion-real-estate-134542719.html

4. Connecticut Latino lawmakers propose banning ‘Latinx,’ calling it ‘offensive’
   NBC News|13 hours ago
   The bill’s sponsor, state Rep. Geraldo Reyes Jr., says Spanish language “defaults to Latino” for everybody, while supporters of Latinx say the gendered term is exclusionary.

   State Farm, Wells Fargo plan to lay off hundreds in Illinois
   Chicago Tribune|12 hours ago
   Chris Pilcic, a spokesperson for State Farm, said the company’s filing stemmed from its decision in January to outsource its IT help desk and infrastructure services work to an
   After mortgage lenders shut down, what’s next for loan originators?
   HousingWire|18 hours ago
   When looking for new lenders, the mortgage product mix, compensation, speed and cultural fit are all factors to consider, LOs say.

   NYCB to close 69% of Flagstar’s mortgage offices
   bankingdive|14 hours ago
   The move lends credence to reports of hundreds of layoffs last week and presumably means the bank will no longer offer new mortgage lending outside its nine-state branch footprint.

   1. Connecticut Latino lawmakers propose banning ‘Latinx,’ calling it ‘offensive’
      NBC News|13 hours ago
      The bill’s sponsor, state Rep. Geraldo Reyes Jr., says Spanish language “defaults to Latino” for everybody, while supporters of Latinx say the gendered term is exclusionary.

      Watch as the white libs shoot that down.

5. A former producer for ABC News was arrested Tuesday on federal charges of transporting child pornography.

   James Gordon Meek, who lives in Arlington, Va., had several devices seized from his home by the FBI last April, the Department of Justice said in a statement. According to court documents, they contained images of children engaged in sexually explicit conduct.

   Authorities also found multiple chat conversations with users who expressed enthusiasm for sexually abusing children.

   Meek specialized in covering national security since the late 1990s. He joined ABC News in 2013 after serving two years as a senior counterterrorism advisor and investigator for the House Committee on Homeland Security.

   https://www.latimes.com/entertainment-arts/business/story/2023-02-01/ex-abc-news-producer-is-arrested-on-child-porn-charges

   1. “…after serving two years as a senior counterterrorism advisor and investigator for the House Committee on Homeland Security.”

      “The people have always some champion whom they set over them and nurse into greatness. This and no other is the root from which a tyrant springs. When he first appears he is a protector.” —Plato

6. 𝗚𝗮𝘀𝘁𝗼𝗻, 𝗦𝗖 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲𝗿 𝟭𝟳% 𝗬𝗢𝗬 𝗔𝘀 𝗥𝘂𝗿𝗮𝗹 𝗟𝗮𝗻𝗱 𝗔𝗻𝗱 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗚𝗲𝘁 𝗖𝗹𝗼𝗯𝗯𝗲𝗿𝗲𝗱

   https://www.movoto.com/gaston-sc/market-trends/

   𝘈𝘴 𝘢 𝘯𝘰𝘵𝘦𝘥 𝘦𝘤𝘰𝘯𝘰𝘮𝘪𝘴𝘵 𝘴𝘵𝘢𝘵𝘦𝘥, “𝘕𝘰𝘵𝘩𝘪𝘯𝘨 𝘢𝘤𝘤𝘦𝘭𝘦𝘳𝘢𝘵𝘦𝘴 𝘵𝘩𝘦 𝘦𝘤𝘰𝘯𝘰𝘮𝘺 𝘢𝘯𝘥 𝘤𝘳𝘦𝘢𝘵𝘦𝘴 𝘫𝘰𝘣𝘴 𝘭𝘪𝘬𝘦 𝘧𝘢𝘭𝘭𝘪𝘯𝘨 𝘱𝘳𝘪𝘤𝘦𝘴 𝘵𝘰 𝘥𝘳𝘢𝘮𝘢𝘵𝘪𝘤𝘢𝘭𝘭𝘺 𝘭𝘰𝘸𝘦𝘳 𝘢𝘯𝘥 𝘮𝘰𝘳𝘦 𝘢𝘧𝘧𝘰𝘳𝘥𝘢𝘣𝘭𝘦 𝘭𝘦𝘷𝘦𝘭𝘴. 𝘕𝘰𝘵𝘩𝘪𝘯𝘨.”

7. ‘Frequently people will call just to gauge the motivation or how desperate we are.’ In one case, a unit at 55 Stewart St. was listed with an asking price of $2.595-million. The buyer chiseled that figure down to a sale price of $2,478,600.”

   “We”? “Chiseled”? Lets examine the historical appraisals on this one.

   Call your lawyer.

   Gooding, ID Housing Prices Crater 31% YOY As Boise Sellers Take A Hammering

   https://www.movoto.com/gooding-id/market-trends/

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