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Avoid Being A Home Moaner

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  1. From the first 14:46 video:

    Buyer’s Remorse
    Jimmy Talks Real Estate!
    Mar 22, 2023
    In this video, we’re going to talk about buyer’s remorse, specifically for homeowners. Whether you’re a first-time home buyer or you’ve been buying homes for a while, you’re likely to experience buyer’s remorse at some point.

    We’ll discuss the best ways to deal with it, how to get over it as quickly as possible, and how to avoid it in the future. Hopefully, this video will help you avoid the blues and enjoy your new home purchase!

    The second 2:38 video:

    Recent Real Estate Buyer’s Remorse
    Brian Ingle – Real Estate
    Mar 21, 2023
    This video discusses the recent trend of unhappy Real Estate Buyers and why 70% of buyers have at least one regret about their current home purchase. We also break down the various reasons why they regret their purchase and what may have created the regret.

    The third 16 minute video:

    Are Mass Power Of Sales Coming To Brampton, Mississauga & Durham Real Estate? – Mar 15
    Team Sessa Real Estate
    Mar 22, 2023 CANADA

    00:00 – Mass Power Of Sales
    04:09 – Introduction
    05:47 – Mississauga Detached
    09:05 – Brampton Detached
    11:27 – Pickering, Ajax, Whitby Detached
    13:38 – Peel Condo’s

    Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Mar 9 – Mar 15, 2023.

  2. Pacific Western Bank said on Wednesday its deposits have stabilized and it had more than $11.4-billion in cash as of March 20, although it had explored a capital raise with potential investors.

    The bank said deposits insured by the Federal Deposit Insurance Corporation, including accounts eligible for pass-through insurance, exceeded 65 per cent of its total deposits, as of March 20.

    The bank said it had secured $1.4-billion in fully funded cash proceeds from ATLAS SP Partners through a new senior asset-backed financing facility.

    Regional banks, whose stocks have been battered since the collapse of two mid-sized U.S. lenders this month, have scrambled to assure customers their deposits are secure after the two bank runs whipsawed the global financial ecosystem.

    Shares in the bank, which lost roughly 47 per cent of their value so far this year, were down nearly 13 per cent in trading before the bell.

  3. Virgin Orbit attempted to become the first European-based company to launch satellites however it has had its second stage fail as its share price crashed down 70 per cent since the start of the year.

    The company’s market value was $3 billion two years ago when it went public, but has fallen to a record low of $150 million.

    Texas-based venture capital investor Matthew Brown is talking with Virgin Orbit about a $200 million investment, with the company saying they will resume operations.

    1. There was an attempted launch yesterday by Relativity Space, their first. Their Terran rocket’s second stage failed. Their launcher is supposed to have 3D printed parts.

  4. The Austin-based job search company Indeed has announced that 2,200 jobs are being cut. Indeed is yet another company joining the big names in the tech industry for mass layoffs. In a letter from CEO Chris Hyams, around 15% of the entire company has been cut. According to the letter, the cuts affect nearly every team, function and level from any Indeed location.

    Hyams cited the cooling down of the job market following the post-COVID-19 boom as the reason behind the layoffs. Hyams went on to detail that total job openings in the U.S. were down 3.5% year-over-year, and that the HR Tech revenue will likely decline in the fiscal years 2023 and 2024.

    “We have held out longer than many other companies, but the revenue trends are undeniable,” the letter detailed. “I will be taking a 25% cut in base pay. Additionally, more than 75% of my total compensation is directly tied to Indeed revenue growth, and is at risk given current trends.”

    1. The Austin-based job search company Indeed has announced that 2,200 jobs are being cut.

      So now they can eat their own dog food and see if it’s any good.

  5. The ongoing wave of tech layoffs is buffeting NBN Co, which announced this month it will lay off 500 people as the company adjusts its operational and funding strategies to accommodate a climate of increasing competition and intensifying borrowing pressure.

    The company, which has built and operated the National Broadband Network (NBN) since 2009, will change the “size and shape of the company” by cutting around 10 per cent of its workforce, reports said.

    Although CEO Stephen Rue was upbeat in the company’s recent half-year results announcement – flagging an expanding customer base and continued take-up of high-speed services that boosted half-year revenues to $2.63 billion – he warned in a recent email to staff that Australia’s telecommunications “environment is changing” and that the competition NBN faces to win and retain customers is intensifying.”

    “All business units” will be affected, with most of the affected roles to be middle and senior management – prompting speculation that the company was entering a “death spiral” and driving RMIT University academic and industry analyst Dr Mark Gregory to flag the network as “a national disappointment” that is “over-priced and under-performing for what Australia needs.”–intensifying–competition.html

  6. Property owners who need to refinance this year are confronting much higher borrowing costs and falling property values. This month’s collapse of Silicon Valley Bank and Signature Bank threatens to make negotiations even tougher as local lenders scramble to reduce risk.

    “The turmoil we’ve seen in the last week has hit dead center in the lender group that supported more commercial mortgages in 2022 than any other,” said Jim Costello, an economist at MSCI Real Assets. “It was already happening. This is kicking a man when he’s down.”

  7. Proptech company Roofstock has laid off about 27% of its staff today, according to an email sent to employees viewed by TechCrunch. The cuts come just five months after the startup laid off 20% of its workforce.

    The company’s website states that it has 400+ employees, or “Roofsters” as they’re dubbed, but it is not known if that figure is current.

    Roofstock, an online marketplace for investing in leased single-family rental homes, one year ago raised $240 million at a $1.9 billion valuation. SoftBank Vision Fund 2 led that financing, which included participation from existing and new backers including Khosla Ventures, Lightspeed Venture Partners, Bain Capital Ventures and others. Roofstock has raised a total of over $365 million in funding since its 2015 inception, per Crunchbase.

    According to the email seen by TechCrunch, co-founder and CEO Gary Beasley said today’s reduction in force (RIF) was “in response to the challenging macro environment” and the “negative impact” it is having on Roofstock’s business.

    He added that the company was not expecting to have to cut more staff so soon but that it needed to “right size” in an effort “to reduce cash burn rate” and ensure it has “adequate capital runway until the market eventually turns.”

    Beasley sent the email because apparently, the Zoom meeting where it was addressed “maxed out on attendees.”

    Oakland, Calif.-based Roofstock lets people buy and sell rental homes in dozens of U.S. markets. The premise behind the company is that both institutional and retail investors can buy and sell homes without forcing renters to leave their homes. Meanwhile, buyers can also presumably generate income from day one.

    At the time of its raise in March 2022, the company said that it had facilitated more than $5 billion in transaction volume, more than half of which had come from the last year alone.

    Just days before its last round of layoffs last year, Roofstock made headlines for selling its first single-family home using NFTs, or non-fungible tokens.

    Rising mortgage rates and a slowdown in the housing market led to challenges for many real estate technology companies in 2022 that continue this year. Opendoor, Redfin, Compass, and Homeward were among the other startups that also laid off workers. IBuyer Reali also announced it was shutting down after raising $100 million the year prior.

    TechCrunch has reached out to Roofstock but had not heard back at the time of writing but multiple sources confirmed that layoffs had taken place today.

    1. All companies that never turned a profit, and are now desperate to do so. Most of them, along with the plethora of zombie firms, will either shrink drastically or even close their doors if they simply cannot turn a profit.

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