Where Did The Buyers Go?
https://www.youtube.com/watch?v=OFWp8bJP3-s https://www.youtube.com/watch?v=4FVsg9XlRns https://www.youtube.com/watch?v=rBiiO4EmRzE https://www.youtube.com/watch?v=6u0v5d2s1To
A Frank Message For Sellers Who Wonder If They Missed The Peak: Yes You Did
A report from Market Watch. "Frederick Warburg Peters, the president of Coldwell Banker Warburg, sounded a grimmer outlook for the Manhattan real-estate market in his own second-quarter market report. 'Throughout the second quarter, that slowdown has accelerated: fewer signed contracts,…
A Global Phenomenon Due To Monetary Policy Errors Repeated Across Multiple Advanced Economies
A report from the News Sun in Indiana. "Larry Doyle, president of Campbell & Fetter Bank, ran some sample numbers to illustrate. 'That’s a $318 increase. Same dollar amount. Same dollar amount borrowed,' Doyle said. 'We had nine price reductions…
No Protection From The Bloodbath
It's Friday desk clearing time for this blogger. "The Federal Reserve looks on course to lose money next year as it raises short-term interest rates to try to rein in inflation, according to former New York Fed President William Dudley.…
A More Striking Reversal Than We Experienced In 2005
A report from the Coeur d’Alene Press in Idaho. "Rocket Homes reported that the median home price in May in Kootenai County was $521,000, down 30.8% from a month ago. The asking price for one Dalton Gardens, five-bedroom, 2,500-square-foot home…
The Once Ubiquitous Sold Over Asking Is Giving Way To Bought Under Asking
A report from Yahoo Finance. "The buying frenzy of vacation homes witnessed during the pandemic is largely over, as intensifying home prices rapidly cool demand. Demand for vacation homes tumbled for the second month in a row in March. 'The…
A Familiar Script For Long-Time Observers Of The Boom-And-Bust Cycle
A report from The Hill. "'Higher prices and higher mortgage rates have boosted the required monthly payment to buy a home; it’s up by more than 40 percent from a year ago. This affordability challenge will shrink the buyer pool.'…
A Front-Row Seat To The Cracks Starting To Show In The World’s Hottest Markets
A report from the World Property Journal. "Based on a new report from Redfin, a fast-growing share of U.S. home-sellers are dropping their prices. 'The slowdown over the last two weeks has felt significant,' said Seattle-area Redfin real estate agent…
Higher Rates, Tighter Credit And Rising Supply Are Now All In Play
A report from the Wall Street Journal. "During the fourth quarter, Zillow lost an average of about $25,000 on every home it sold, before interest expense. On Feb. 10, Zillow Group said it lost $881 million on its algorithmic-driven home-flipping…
The Price Drop Might Be Coming From Appraisers Putting The Kibosh On Overzealous Sellers
A report from the Indianapolis Star. "IndyStar sat down with Jim Litten, who has 50 years of real estate experience. 'We’re seeing tremendous price escalation. Prices last year went up about 16% in our market. I don’t see that moderating…