Up Shit Creek Without A Boat
A report from Realtor.com. "Basketball Hall of Famer Dikembe Mutombo just sold his condo in New York City. But after waiting much of the year for a buyer, he probably didn't get quite the win he wanted. In February, the…
A Ponzi-Style Inverted Pyramid Of Indebtedness Now Threatened With A Tsunami Of Bankruptcies, Deflation, And Oversupply In Everything
A report from WDSU in Louisiana. "According to the New Orleans Metropolitan Association of Realtors, houses are sitting on the market longer and sales are down 24 percent compared to this time last year. Real estate broker Samantha Bush has…
The One-Way Bet On Property Is Now Waning As The Myth That Prices Will Keep Rising Has Been Broken
A report from the San Antonio Report in Texas. "Almost two years after announcing that Frost Bank would offer home loans again, that new department is 90 people strong and has just begun rolling out three mortgage products in San…
After A Period When Prices Have Defied Gravity, Sellers May Finally Be Getting A Dose Of Reality
A report from the Wall Street Journal. "Sheila Smith was set to get a mortgage for about $750,000 to buy an investment property in Sedona, Ariz., earlier this year. The lender, a regional bank, offered a starting interest rate of…
After A Period Of Buying, Buying, Buying, They’re All Looking For An Increase In Their Money And Not Getting It
A report from Bloomberg. "Owners of San Francisco’s office towers, shopping centers, hotels and homes are flooding the county with appeals to slash their property assessments — and tax payments — as real estate prices sink in the beleaguered city.…
There Are No Funds Left And A Lot Of People With Pitchforks
A report from the Idaho Statesman. "Borrowers struggling with a low credit score, history of bankruptcy or limited savings who may not be eligible for a conventional loan are taking advantage of Federal Housing Administration loans instead, said Jared Olsen,…
No One Wants To Be The First To Blink And Drop Their Price, But Eventually Most Will
A report from the News Tribune in Washington. "Median closed sale price for existing homes in Pierce County in July was $541,000, down from June’s $545,000 and $575,000 in July 2022, according to the latest Northwest Multiple Listing Service report.…
Look, We Need To Sell
A report from KOMO-TV in Washington. "According to Redfin, luxury home prices dropped by double digits in several west coast cities. San Francisco saw the biggest loss of more than 12.7% in a year. Seattle is close behind at a…
A Growing List Of Things Central Bankers Underestimated Over The Past Few Years
A report from the Advocate in Louisiana. "When David LeBoeuf listed his Gentilly house for sale in May, he thought the newly renovated, two-bedroom cottage would move quickly with a price tag of $315,000, or roughly $190 per square foot.…
A Billion-Dollar Industry Chasing Its Own Tail
A weekend topic starting with Bisnow New York. "The pandemic and its associated travel bans crushed hotels across the country, but the sector has come back in force thanks to a slew of positive fundamentals for the asset class. Soaking…