It's Friday desk clearing time for this blogger. "For the fifth time this year, home…
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From the first 46 minute video:
New, April 2023 Foreclosures, REOs & Property Auctions
Florida Living
Premiered Apr 2, 2023
Welcome! Let’s look at new foreclosures and REO auctions.
The good, the bad and the “OMG!”
The second 5 minute video:
Canada’s Mortgage Crisis: Banks Being Asked To Bail Out People
Honest real estate talk 🇨🇦
Apr 3, 2023
Canada is in a mortgage crisis. A lot of people facing trigger rates, negative amortization and can’t keep up with their payments. A proposal is asking the banks to help out people who are struggling to keep up with the mortgage payments by increasing the amortization period. This is just a proposal for now but if it goes through it will help out a lot of people who were stressed that they might have to sell their house because they won’t be able to renew.
Australian Central Bank leaves interest rate unchanged. (with a hawkish empty gesture). As you all know Downunder is only houses & holes (mining). They re have re started importing vibrants from india etc to stop the housing ponzi coollapsing. lot of mortages are 2 year fixed coming for renewal this year (at atlest 3% higher than previously fixed). Protecting the ponzi is more than important than inflation. Aus Cental bank:Let them eat cake!
Lennar cuts San Antonio home prices by $30k, offers rate incentives
The Business Journals|16 hours ago
Lennar (NYSE: LEN), alongside Arlington-based D.R. Horton (NYSE: DHI) and Los Angeles-based KB Home (NYSE: KBH), sold almost 50% of the new housing product in San Antonio last year.
China’s Smaller Cities Struggle to Unload Empty Apartments
Wall Street Journal|21 hours ago
Around a third of all newly completed apartments in the country went unsold in 2022.
Manhattan offices hurting after a tough winter
Crain’s New York|16 hours ago
Offices in Manhattan are still about as empty as they were during the worst of the pandemic, according to a new report from the brokerage Colliers. In the first quarter, which ended Friday, the availability rate for Manhattan was 17.
Flatiron runners-up decline option to buy famed building for $189.5M
Crain’s New York|13 hours ago
“They go from a look of excitement and pride to one of fear and regret. When Jacob Garlick fell to his knees after the auction, I’m not sure if it was from joy or from buyer’s remorse in a ‘what have I done’ moment.” A new auction would likely not happen …
San Francisco Office Vacancies Approach 30%
GlobeSt.com|21 hours ago
The “ghost town” stories about downtown San Francisco are going to persist as the year unfolds: nearly a third of the offices in the Golden Gate city are empty, a vacancy rate approaching 30% in Q1 2023.
USAA braces for economic downturn with sweeping layoffs
The Business Journals|18 hours ago
The layoffs represent just over 1% of USAA’s total workforce and are part of the company’s reprioritization strategy as it braces for an economic downturn, according to USAA spokesperson Christian Bove.
2 minute video:
Customers caught up in the collapse of Victorian home builder Porter Davis have been told liquidators are hopeful of finding a buyer, but others in early stage construction have likely lost deposits.
From the first 46 minute video:
New, April 2023 Foreclosures, REOs & Property Auctions
Florida Living
Premiered Apr 2, 2023
Welcome! Let’s look at new foreclosures and REO auctions.
The good, the bad and the “OMG!”
The second 5 minute video:
Canada’s Mortgage Crisis: Banks Being Asked To Bail Out People
Honest real estate talk 🇨🇦
Apr 3, 2023
Canada is in a mortgage crisis. A lot of people facing trigger rates, negative amortization and can’t keep up with their payments. A proposal is asking the banks to help out people who are struggling to keep up with the mortgage payments by increasing the amortization period. This is just a proposal for now but if it goes through it will help out a lot of people who were stressed that they might have to sell their house because they won’t be able to renew.
Australian Central Bank leaves interest rate unchanged. (with a hawkish empty gesture). As you all know Downunder is only houses & holes (mining). They re have re started importing vibrants from india etc to stop the housing ponzi coollapsing. lot of mortages are 2 year fixed coming for renewal this year (at atlest 3% higher than previously fixed). Protecting the ponzi is more than important than inflation. Aus Cental bank:Let them eat cake!
Lennar cuts San Antonio home prices by $30k, offers rate incentives
The Business Journals|16 hours ago
Lennar (NYSE: LEN), alongside Arlington-based D.R. Horton (NYSE: DHI) and Los Angeles-based KB Home (NYSE: KBH), sold almost 50% of the new housing product in San Antonio last year.
China’s Smaller Cities Struggle to Unload Empty Apartments
Wall Street Journal|21 hours ago
Around a third of all newly completed apartments in the country went unsold in 2022.
Manhattan offices hurting after a tough winter
Crain’s New York|16 hours ago
Offices in Manhattan are still about as empty as they were during the worst of the pandemic, according to a new report from the brokerage Colliers. In the first quarter, which ended Friday, the availability rate for Manhattan was 17.
Flatiron runners-up decline option to buy famed building for $189.5M
Crain’s New York|13 hours ago
“They go from a look of excitement and pride to one of fear and regret. When Jacob Garlick fell to his knees after the auction, I’m not sure if it was from joy or from buyer’s remorse in a ‘what have I done’ moment.” A new auction would likely not happen …
San Francisco Office Vacancies Approach 30%
GlobeSt.com|21 hours ago
The “ghost town” stories about downtown San Francisco are going to persist as the year unfolds: nearly a third of the offices in the Golden Gate city are empty, a vacancy rate approaching 30% in Q1 2023.
USAA braces for economic downturn with sweeping layoffs
The Business Journals|18 hours ago
The layoffs represent just over 1% of USAA’s total workforce and are part of the company’s reprioritization strategy as it braces for an economic downturn, according to USAA spokesperson Christian Bove.
2 minute video:
Customers caught up in the collapse of Victorian home builder Porter Davis have been told liquidators are hopeful of finding a buyer, but others in early stage construction have likely lost deposits.
https://www.abc.net.au/news/2023-04-04/buyer-sought-for-porter-davis-as-homes-hang-in-the-balance/102187428