The Power Of Bubbles To Deceive
A report from CBS 8 in California. "Trisha Cortez, 35, said she started her search for her first home with her partner back in 2021. They needed to move from the North Park property they had been renting for 10…
With The Increase In Supply, Purchasers Are Wary Of Paying Too Much
It's Friday desk clearing time for this blogger. "Freddie Mac's weekly mortgage rate survey rate is standby for multiple news organizations to print their once-a-week mortgage rate color. The bigger problem is that Freddie's survey headline often gives the wrong…
Sentiment Is Changing Rapidly, With Sellers Unable To Achieve The Prices Of 2021
A report from Mortgage Professional America. "Santander Bank LLC, a Spain-based global banking group with more than 145 million customers in the US, will have laid off more than 50 employees by the first week of April, according to a…
Some Desperate Owners Have Sold At A Loss
A report from Market Watch. "Researchers pointed to Miami as an example for their argument. During the market’s peak in late 2006, buyers there paid nearly $340,000 on average to purchase a home. Only now are many of those buyers…
One Home Builder After Another Defaulted On Their Debts Or Pleaded With Creditors
A report from the Sun Sentinel in Florida. "In the wee hours of Thursday morning, the folks who want a private 30-story condo built on a prized piece of taxpayer-owned beach in Hollywood went home without a deal. The project…
To Kill The Golden Goose
A weekend topic starting with the Post Register on Idaho. "As more people visit Island Park each year and more homeowners are turning their properties into short-term rentals. (Island Park’s year-round population was 262 in the 2020 Census.) Tourism in…
In The Twilight Of An Incredible Boom
A weekend topic starting with a press release. "ATTOM released its third-quarter 2021 U.S. Residential Property Mortgage Origination Report, which shows that 3.59 million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of…
As Usual, An Exhilarating High Is Almost Always Followed By A Steep Fall
A weekend topic starting with Quartz. "The press has noted that more than 6 million homes may be sold this year, more than any time since 2006. For those familiar with real estate busts, this may be an ominous sign.…
Developers Are Making The Situation Worse By Rapidly Selling To Raise Cash
A report from the Denver Business Journal. "Mark Vitner, senior economist at Wells Fargo & Co., said companies in the iBuying space are essentially IT companies. 'In this market, it's been very hard to collect accurate information,' Vitner said. 'We…
As Winter Has Come, Everyone Feels Cold
A report from 12 News in Arizona. "'The market started to cool and Zillow missed the off-ramp,' said Mike DelPrete, a real estate analyst. iBuyers are responsible for around 10 percent of all listings in the Phoneix market. One of…