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At The Beginning Of Another Downturn?

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  1. From the first 4:47 video:

    Get Up-to-Date on San Francisco’s Housing Market Trends in under 5 Minutes
    RISE Homes – San Francisco Bay Area Real Estate
    Mar 20, 2023

    By examining the most recent market statistics, we can gain a deeper understanding of the current state of the market.

    The San Francisco housing market saw a decrease in new listings, pending sales, median and average sales prices, and an increase in days on market in February 2023 compared to the same period in 2022. Condo and co-op properties saw similar trends with a decrease in new listings, pending sales, sold listings, median and average sales prices, and an increase in days on market.

    The second 3:33 video:

    February Market Update South Bay Beach Cities | Los Angeles Housing Market February 2023
    Carissa Wright – Living in the South Bay
    Mar 20, 2023 MANHATTAN BEACH
    With March coming to an end soon, it is time for our February Market Update for the South Bay beach cities, including El Segundo, Manhattan Beach, Hermosa Beach and Redondo Beach!

    If you are (or are considering) buying or selling, these 4 market statistics will help you keep your pulse on the market!

    The third 15 minute video:

    BIG Drop in Austin Home Prices (More Than Expected)
    Ian Grossman & Lindsey Fenton – Moving to Austin
    Mar 21, 2023

    Austin Home Prices have fallen drastically since May 2022, but have they fallen more than expected? Some thought prices would only continue to go up, but the growth was unsustainable. The new market report released by the Austin Board of Realtors shows prices continuing to drop throughout the Austin metro.

    The fourth 12:30 video:

    Victor Ashley Real Estate
    Mar 20, 2023 SEATTLE
    Victor Ashley reviews the Crownhill #neighborhood #98117 of #Seattle WA and compares #homeaffordability to the average household in the #seattlerealestate market as well as provides #homebuyingtips & #homebuyingguide to #firsttimehomebuyers & anyone curious to the market.

    The fifth 3:11 video:

    Home INVENTORY Increases, More PRICE Drops In Boise, Idaho.
    Idaho Living
    Mar 20, 2023 BOISE
    Home Prices fall in ADA and CANYON counties. Boise, Meridan, Kuna, Eagle, Nampa, and Star all see a 10.5% housing market drop. Housing market update. Home builders offer huge incentives.

    The sixth 18 minute video;

    Is Toronto Real Estate At The Beginning Of Another Downturn?- Mar 15
    Team Sessa Real Estate
    Mar 21, 2023

    Toronto Real Estate Market Report for the week of Mar 9 – Mar 15, 2023.

  2. “The supply of for-sale homes is slowly building, which is easing inventory constraints in many markets across the state,” said 2023 Florida Realtors® President G. Mike McGraw, a broker-associate with RE/MAX Central Realty in Apopka. “As more inventory becomes available, it will begin to ease some of the pressure on home prices – and that helps buyers dealing with higher interest rates and affordability challenges.

    “Working with a local Realtor means consumers have an expert guide who can help them understand the complex and emotional process of buying or selling a home.”

    Statewide inventory in February was higher than a year ago for both existing single-family homes, increasing by 131.4%, and for condo-townhouse units, up 106%. The supply of single-family existing homes was at a 2.7-months’ supply while existing condo-townhouse properties were at a 3.2-months’ supply last month.

  3. With a continued lack of inventory and Interest rates starting to rise once again, closed sales dropped to their lowest point in nearly a decade, according to the housing report released today by the New York State Association of REALTORS®.

    Closed sales plummeted 34.3 percent, from 9,351 sales in February 2022 to only 6,147 units last month. This marks the lowest number of closed sales in month-over-month comparisons since February 2014 when there were just 5,700 units sold. New listings were down as well, from 11,760 listings in February 2022 to 9,905 in February 2023 representing a 15.8 percent decline. Pending sales also fell 8.1 percent from 9,350 homes last year to 8,593 sales pending in February 2023.

    According to Freddie Mac, interest rates escalated every week during the month of February. The monthly rate on a 30-year fixed-rate mortgage started the month at 6.09 percent but ended February at 6.50 percent.

    Inventory of homes also fell in year-over-year comparisons. The 30,308 homes available in February 2023 marked an 8.2 percent decline in the 33,031 units available in February 2022. This is the 40th consecutive month that the housing inventory has fallen in year-over-year comparisons.

    Median sales prices of homes dipped moderately from $400,000 in February 2022 to $375,000 just last month. This represents a decline of 6.3 percent.

  4. In a deal with the Federal Deposit Insurance Corp., New York Community Bancorp Inc. is buying more than $34 billion in Signature’s deposits, as well as $13 billion in loans and 40 bank branches. Left behind is the commercial real estate debt portfolio, weighted heavily toward multifamily buildings bound by a law that restricts landlords’ ability to raise rents.

    “It’s toxic waste,” said Christopher Whalen, chairman of Whalen Global Advisors. “From an investor point of view, these are dead assets.”

    Wa happened to my sound lending?

  5. The Intergovernmental Panel on Climate Change (IPCC) has just released a new report and its alarming conclusions are a must-read for anyone who cares about what kind of planet we’re going to leave to our kids.

    Problem is, outside of academic circles and environmental groups, these important reports are now mostly falling flat. It seems that the general public has gone through a kind of systematic desensitization to the issue.

    It’s been talked about for so many years that a new report on the devastating effects of global warming and climate change gets a shoulder shrug, meh!

    It’s as if the IPCC were some poor soul wearing a sandwich board sign blaring out: “Repent the End is Nigh”. Easy to ignore. If the world does come to an end, we won’t have to worry (and what does that guy know anyway?)…

      1. “Environmental lies and grift”

        I believed them all back in 1977-78.
        Now my BS Detector goes berserk every time I see one of these Climate horror stories.
        Sad but a guy I went to Grad school is one of the academics presenting to Congress and leading the environmental charge.

    1. It’s as if the IPCC were some poor soul wearing a sandwich board sign blaring out: “Repent the End is Nigh”.

      That’s exactly what it is.

      And the Global South doesn’t give a fiddlestick about climate change. The US is threatening Mexico with sanctions unless it changes its energy policy to something green. And Mexico is supposed to be an American ally.

        1. Funny how the Brandon admin doesn’t rattle sabers with the narcos, just with the impotent Mexican government.

          Four years ago, when MORENA swept into power, taking the Presidency and both houses of congress, there was hope in Mexico that things would get better; but the opposite has happened.

          ALMO was hoping to make nice with the cartels, the unspoken deal was “we’ll leave you alone to send all you want to the US, as long as you dial back the violence in Mexico.” The opposite happened. Now AMLO is trying to crack down on the cartels, but it’s too little, too late.

          At the beginning of AMLO’s administration they made a big fuss over fighting government corruption. At first it appeared to be working, but now that it’s plain to see the ship is sinking, government officials are stealing everything they can.

          Things are getting so bad that the opposition parties, the PRI, PAN and PRD, who have never been allies, are starting to work together to oppose MORENA.

  6. 𝗢𝗮𝗸𝗹𝗮𝗻𝗱, 𝗙𝗟 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲𝗿 𝟮𝟴% 𝗬𝗢𝗬 𝗔𝘀 𝗗𝗼𝘂𝗯𝗹𝗲 𝗗𝗶𝗴𝗶𝘁 𝗣𝗿𝗶𝗰𝗲 𝗗𝗲𝗰𝗹𝗶𝗻𝗲𝘀 𝗕𝗹𝗮𝗻𝗸𝗲𝘁 𝗢𝗿𝗹𝗮𝗻𝗱𝗼 𝗔𝗿𝗲𝗮

    𝘈𝘴 𝘰𝘯𝘦 𝘳𝘦𝘢𝘭 𝘦𝘴𝘵𝘢𝘵𝘦 𝘦𝘤𝘰𝘯𝘰𝘮𝘪𝘴𝘵 𝘰𝘣𝘴𝘦𝘳𝘷𝘦𝘥, “𝘎𝘪𝘷𝘦𝘯 𝘵𝘩𝘦 𝘮𝘢𝘴𝘴𝘪𝘷𝘦𝘭𝘺 𝘪𝘯𝘧𝘭𝘢𝘵𝘦𝘥 𝘱𝘳𝘪𝘤𝘦𝘴 𝘱𝘦𝘰𝘱𝘭𝘦 𝘩𝘢𝘷𝘦 𝘣𝘦𝘦𝘯 𝘱𝘢𝘺𝘪𝘯𝘨, 𝘣𝘰𝘳𝘳𝘰𝘸𝘦𝘳𝘴 𝘦𝘷𝘦𝘳𝘺𝘸𝘩𝘦𝘳𝘦
    𝘢𝘳𝘦 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘲𝘶𝘢𝘥𝘳𝘪𝘱𝘭𝘦𝘨𝘪𝘤𝘴. 𝘕𝘰𝘸 𝘩𝘰𝘶𝘴𝘪𝘯𝘨 𝘱𝘳𝘪𝘤𝘦𝘴 𝘢𝘳𝘦 𝘤𝘳𝘢𝘵𝘦𝘳𝘪𝘯𝘨 𝘦𝘷𝘦𝘳𝘺𝘸𝘩𝘦𝘳𝘦.”

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