The Tables Turned
A report from 6 Sq Ft in New York. "While some of Donald Trump’s family businesses have managed to profit from his presidency, his condo buildings in New York City continue to see significant price drops. From 2016 to 2020,…
Stubbornly High Unemployment Has Crushed Many Family Finances And Made House Payments A Challenge
It's Friday desk clearing time for this blogger. "The Chicago City Council enacted the COVID-19 Eviction Protection ordinance in June. After selling two single-family homes to financially maintain his remaining portfolio, Derrick Rowe, a landlord on the South Side, now…
There Is A Great Shakeout Coming
A report from Mortgage News Daily. "Mortgage delinquencies spiked in June and the serious delinquency rate, loans 90 or more days past due but not in foreclosure, reached its highest level in more than five years. CoreLogic predicts that, barring…
The Concept Of Lending Into A Problem
A weekend topic starting with Bloomberg. "Fannie Mae and Freddie Mac said a regulator’s plan to boost their capital would increase mortgage borrowing costs for the millions of Americans who rely on the companies to buy homes and asked that…
Some Very Tragic And Difficult Stories Of Property Owners Who Are In Extreme Financial Distress
It's Friday desk clearing time for this blogger. "The contours of the ruin caused in New York City are emerging. City unemployment rate climbed to nearly 20 percent in July with nearly a fifth of jobs wiped out, year-to-year. Many…
There’s A Lot Of Fear Of That 2009 Scenario
A report from CNBC. "Late Tuesday, the Trump administration announced a somewhat creative plan to stop most rental evictions through the end of the year. 'Without mortgage forbearance protections and protections from other property-level financial obligations such as property taxes,…
When They Stopped Paying, I Was Really Shocked
A report from the New York Post. "Moving trucks were out in force on Manhattan’s Upper West Side on Saturday — leaving Guardian Angels founder Curtis Sliwa practically tripping over them. 'The mass evacuation of Upper West Siders from NYC…
A Lot Of Buyers Make Lowball Offers That Get Rejected, But Then They Get A Call Back
It's Friday desk clearing time for this blogger. "The coronavirus pandemic has weaved two opposing narratives in the U.S. housing market. On one hand, it has buoyed home prices amid extremely tight inventory and frenzied demand. On the other, it…
It’s Hard To Miss The For Lease Signs And Plywood On Windows
A report from Boston.com in Massachusetts. "International buyers, a key ingredient in new downtown condo projects, have pulled back in the past few years. The pullback is a departure from real estate anecdotes in recent years across the country of…
Either Unsellable Or Deeply Discounted To The Point That Our Investment Is Virtually Lost
A report from the International Business Times. "The U.S. mortgage industry has been thrown into turmoil as the impact of the COVID-19 pandemic prompted millions of borrowers to fall behind on their payments. Holden Lewis, mortgage expert at NerdWallet, said…