HOUSING IS 20% OFF IN AUSTIN – Austin Real Estate Market Update April 2023 – Spring Market has Begun
Mason Bleasdell – Austin, Texas Area Realtor
Apr 26, 2023
Today we look at some stats for Austin that have closed in March of 2023, discuss current stats, and my thoughts and what I have seen as a full time real estate agent in Austin, Texas.
The second 2:45 video:
Home Price Decrease in Manatee County
Beth Helvey
Apr 26, 2023 SARASOTA
Closed sales across the two-county region decreased year-over-year by 3.4 percent to 2,271 sales combined for both property types. There were more sales in March than in February (1,515 sales), with a 49.9 percent increase from last month.
The third 40 minute video:
Recent Buyers Face Problems Due to Rapid Price Drops in Some of GTA — ‘The Situation’ Consumer Q&A
Move Smartly
Apr 26, 2023
In our regular Move Smartly feature, “The Situation,” lead contributor John Pasalis responds to the questions that real estate consumers in the GTA are asking him right now.
In some parts of Toronto, home prices are now holding, but that doesn’t mean the recent rapid price drops we’ve seen across the GTA haven’t caught out some new home buyers. This month, John responds to home buyers who fear they’ve bought pre-construction and re-sale homes at the peak, and now worry about the financial hardships they face banks unwilling to appraise at their bought value for mortgage approvals and more.
The fourth 13 minute video:
No Shortage Of Buyers In Vaughan, Richmond Hill Or Markham Real Estate – April 19
Team Sessa Real Estate
Apr 27, 2023
Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices for the week of April 13 – April 19, 2023.
According to Sherwood Lumber president Andy Goodman, the lumber industry is still searching for a balance in supply and demand.
“While there are pockets of hope, the broad industry is still challenged with getting supply in check to meet the new demand curve. The narrow trading range indicates that we are very close to equilibrium,” Goodman told Insider on Thursday.
The trading range of lumber has consistently been between about $300 and $600, aside from the upside volatility boom that sent lumber prices soaring to as high as $1,733 per thousand board feet during the pandemic-induced housing boom. Since then, lumber prices have cratered 78%, in part driven by a surge in mortgage rates to above 6%.
“Lumber is trying to carve out it’s new post-covid trading range after resetting to more historical price structure… Any supply disruption or shift in demand will only bring one constant, volatility,” Goodman said. “The question we all would like to answer is, when?”
Google’s advertising malaise persisted during the first quarter while the internet company also grapples with advancements in artificial intelligence technology that threaten to undercut its dominant search engine.
An unprecedented downturn in Google’s digital ad revenue – the company’s main moneymaker for more than 20 years – came into sharper focus Tuesday with the release of the January-March results for owner Alphabet Inc.
Although Alphabet’s total revenue for the period rose from a year earlier, Google’s first-quarter ad sales of $54.5 billion marked a slight decrease from a year ago. That dip followed a nearly 4% decline during the final three months of last year, making this the first time Google has sustained back-to-back drops in year-over-year ad revenue since becoming a publicly traded company in 2004.
Google’s YouTube video site, a marketing magnet in recent years, saw its ad sales decrease 2.5% from last year, marking its second consecutive quarter of erosion, too.
Boosted by growth in its cloud-computing division, Alphabet’s total revenue for the quarter came in at $69.8 billion, a 3% increase from last year. But the ad woes weighed on Alphabet’s earnings. The Mountain View, California, company earned $15.05 billion, or $1.17 per share, an 8% decrease from last year. More than $2 billion in charges for mass layoffs and other cost cutting contributed to the earnings downturn.
Both Alphabet’s revenue and profit exceeded the tempered expectations among analysts polled by FactSet Research. That — and a $70 billion stock buyback plan — helped lift Alphabet’s stock price by about 2% in extended trading after the numbers came out. The company’s shares have fallen by about 15% during the past year amid investor concerns about Google’s ad slump and worries about the company’s future prospects.
“Google’s core business is facing the most serious challenges it has encountered in quite some time,” Insider Intelligence analyst Max Willens said after assessing the first-quarter results.
L&L, Mitsubishi Default on $93M Loan for Metropolitan Offices
GlobeSt.com|20 hours ago
As a wave of more than $16B in CMBS loans backed by New York City office buildings comes due in 2023, office assets with plunging valuations that can’t be refinanced because the lending window has shut are beginning to topple into default like dominoes.
Stress Builds as Office Building Owners and Lenders Haggle Over Debt
The New York Times|12 hours ago
The health of banks and cities and the nation’s economy could hinge on high-stakes negotiations over commercial real estate loans.
Institutional SFR players are stuck in the doldrums
HousingWire|15 hours ago
A major lawsuit, a sluggish securitization market and a shortage of housing for-sale are among the woes plaguing SFR, a sector that only last year was seen as a Wall Street darling.
Ride-hailing firm Lyft Inc
said it will lay off about 1,072 employees, or 26% of its work force, in one of the first steps by the new Chief Executive David Risher, sending its shares up by about 1% on Thursday.
Risher, who took over earlier this month, had recently said the company will “significantly” cut jobs, without providing the number of jobs that would be affected.
Lyft will also eliminate more than 250 open positions and incur about $41 million to $47 million in costs related to severance and employee benefits in the second quarter, it said in an exchange filing.
Separately, Lyft also said it will eliminate three layers of management from 8 to 5 and divide its rideshare business into three core teams.
It will also take additional costs related to stock-based compensations, which it said cannot be estimated at the time.
The money saved from job cuts will be used to support “service-level improvements” for riders and drivers, Lyft said, promising to offer more details in its first-quarter earnings call on May 4.
This is the second round of job cuts by Lyft, which faces competition from bigger rival Uber Technologies Inc in a slowing economy. It had laid off about 683 employees, or 13% of its then work force, in November.
Coming off pandemic lows, Uber and Lyft are locked in a battle for market share, and investors worry that Lyft’s price cuts to avoid being a distant second in the North American ride-sharing market would squeeze its profit.
From the first 6:25 video:
HOUSING IS 20% OFF IN AUSTIN – Austin Real Estate Market Update April 2023 – Spring Market has Begun
Mason Bleasdell – Austin, Texas Area Realtor
Apr 26, 2023
Today we look at some stats for Austin that have closed in March of 2023, discuss current stats, and my thoughts and what I have seen as a full time real estate agent in Austin, Texas.
The second 2:45 video:
Home Price Decrease in Manatee County
Beth Helvey
Apr 26, 2023 SARASOTA
Closed sales across the two-county region decreased year-over-year by 3.4 percent to 2,271 sales combined for both property types. There were more sales in March than in February (1,515 sales), with a 49.9 percent increase from last month.
The third 40 minute video:
Recent Buyers Face Problems Due to Rapid Price Drops in Some of GTA — ‘The Situation’ Consumer Q&A
Move Smartly
Apr 26, 2023
In our regular Move Smartly feature, “The Situation,” lead contributor John Pasalis responds to the questions that real estate consumers in the GTA are asking him right now.
In some parts of Toronto, home prices are now holding, but that doesn’t mean the recent rapid price drops we’ve seen across the GTA haven’t caught out some new home buyers. This month, John responds to home buyers who fear they’ve bought pre-construction and re-sale homes at the peak, and now worry about the financial hardships they face banks unwilling to appraise at their bought value for mortgage approvals and more.
The fourth 13 minute video:
No Shortage Of Buyers In Vaughan, Richmond Hill Or Markham Real Estate – April 19
Team Sessa Real Estate
Apr 27, 2023
Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices for the week of April 13 – April 19, 2023.
According to Sherwood Lumber president Andy Goodman, the lumber industry is still searching for a balance in supply and demand.
“While there are pockets of hope, the broad industry is still challenged with getting supply in check to meet the new demand curve. The narrow trading range indicates that we are very close to equilibrium,” Goodman told Insider on Thursday.
The trading range of lumber has consistently been between about $300 and $600, aside from the upside volatility boom that sent lumber prices soaring to as high as $1,733 per thousand board feet during the pandemic-induced housing boom. Since then, lumber prices have cratered 78%, in part driven by a surge in mortgage rates to above 6%.
“Lumber is trying to carve out it’s new post-covid trading range after resetting to more historical price structure… Any supply disruption or shift in demand will only bring one constant, volatility,” Goodman said. “The question we all would like to answer is, when?”
https://www.msn.com/en-us/money/markets/lumber-prices-fall-toward-multi-year-lows-as-pending-home-sales-slump-and-industry-searches-for-supply-balance/ar-AA1aratL
Google’s advertising malaise persisted during the first quarter while the internet company also grapples with advancements in artificial intelligence technology that threaten to undercut its dominant search engine.
An unprecedented downturn in Google’s digital ad revenue – the company’s main moneymaker for more than 20 years – came into sharper focus Tuesday with the release of the January-March results for owner Alphabet Inc.
Although Alphabet’s total revenue for the period rose from a year earlier, Google’s first-quarter ad sales of $54.5 billion marked a slight decrease from a year ago. That dip followed a nearly 4% decline during the final three months of last year, making this the first time Google has sustained back-to-back drops in year-over-year ad revenue since becoming a publicly traded company in 2004.
Google’s YouTube video site, a marketing magnet in recent years, saw its ad sales decrease 2.5% from last year, marking its second consecutive quarter of erosion, too.
Boosted by growth in its cloud-computing division, Alphabet’s total revenue for the quarter came in at $69.8 billion, a 3% increase from last year. But the ad woes weighed on Alphabet’s earnings. The Mountain View, California, company earned $15.05 billion, or $1.17 per share, an 8% decrease from last year. More than $2 billion in charges for mass layoffs and other cost cutting contributed to the earnings downturn.
Both Alphabet’s revenue and profit exceeded the tempered expectations among analysts polled by FactSet Research. That — and a $70 billion stock buyback plan — helped lift Alphabet’s stock price by about 2% in extended trading after the numbers came out. The company’s shares have fallen by about 15% during the past year amid investor concerns about Google’s ad slump and worries about the company’s future prospects.
“Google’s core business is facing the most serious challenges it has encountered in quite some time,” Insider Intelligence analyst Max Willens said after assessing the first-quarter results.
https://www.riverbender.com/topnews/details.cfm?id=412300
L&L, Mitsubishi Default on $93M Loan for Metropolitan Offices
GlobeSt.com|20 hours ago
As a wave of more than $16B in CMBS loans backed by New York City office buildings comes due in 2023, office assets with plunging valuations that can’t be refinanced because the lending window has shut are beginning to topple into default like dominoes.
Stress Builds as Office Building Owners and Lenders Haggle Over Debt
The New York Times|12 hours ago
The health of banks and cities and the nation’s economy could hinge on high-stakes negotiations over commercial real estate loans.
Institutional SFR players are stuck in the doldrums
HousingWire|15 hours ago
A major lawsuit, a sluggish securitization market and a shortage of housing for-sale are among the woes plaguing SFR, a sector that only last year was seen as a Wall Street darling.
Ride-hailing firm Lyft Inc
said it will lay off about 1,072 employees, or 26% of its work force, in one of the first steps by the new Chief Executive David Risher, sending its shares up by about 1% on Thursday.
Risher, who took over earlier this month, had recently said the company will “significantly” cut jobs, without providing the number of jobs that would be affected.
Lyft will also eliminate more than 250 open positions and incur about $41 million to $47 million in costs related to severance and employee benefits in the second quarter, it said in an exchange filing.
Separately, Lyft also said it will eliminate three layers of management from 8 to 5 and divide its rideshare business into three core teams.
It will also take additional costs related to stock-based compensations, which it said cannot be estimated at the time.
The money saved from job cuts will be used to support “service-level improvements” for riders and drivers, Lyft said, promising to offer more details in its first-quarter earnings call on May 4.
This is the second round of job cuts by Lyft, which faces competition from bigger rival Uber Technologies Inc in a slowing economy. It had laid off about 683 employees, or 13% of its then work force, in November.
Coming off pandemic lows, Uber and Lyft are locked in a battle for market share, and investors worry that Lyft’s price cuts to avoid being a distant second in the North American ride-sharing market would squeeze its profit.
https://www.theglobeandmail.com/business/international-business/article-lyft-to-lay-off-more-than-1000-employees-about-26-per-cent-of-work/