Losing Your Money Is Awful
A report from the Santa Cruz Sentinel in California. "On some blocks in Old Palo Alto, $9 million doesn’t even buy a roof. Take the nice vacant lot with the for sale sign on Bryant Street near Coleridge Avenue. But…
This Reckless Myopia
Two reports from the Globe and Mail in Canada. "In a letter to the House of Commons finance committee, Evan Siddall, chief executive of Canada Mortgage and Housing Corp., offered an aggressive defence of the controversial mortgage qualification standard, saying…
All Your Good Ideas Become Bad Ideas
A weekend topic starting with Geekwire. "Q&A: Redfin CEO Glenn Kelman on competing with Zillow, and the potential of real estate tech. GeekWire: It feels like we are in the wild west for real estate technology in the middle of…
Other Economic Factors May Be The Driving Market Forces Right Now
A report from the Associated Press. "Andy and Stacie Proctor made a bid on a house in the Salt Lake City suburbs, only to rescind it upon learning there were 13 rival offers. At one point, they almost decided not…
The Good Times Weren’t Going To Last Forever
It's Friday desk clearing time for this blogger. "The global financial outlook 'kinda sucks,' said UC Santa Barbara professor Peter Rupert. This year, because of an 11 percent drop in the median house price, from $718,000 to $655,000, Santa Barbara…
Real Estate Agents Say Last Year’s Market Fever Has Broken
A report from the Tampa Bay Times in Florida. "Tampa Bay home sellers take note — the steady price gains of the past few years might be coming to an end. Charles Richardson, senior regional vice president for Coldwell Banker,…
The Breadth Of The Alleged Fraud Has Grown Greater And Larger
A report from the Buffalo News. "Over the course of 13 years, Robert Morgan built a real estate empire that stretches across 14 states and includes 36,000 apartments. But federal prosecutors said he did so with the help of nearly…
People Construct Fantasies Around Whatever The Asset Bubble Is
A report from ABC News on Australia. "One of the policies the Coalition took to the election was a scheme to lower the amount first home buyers need to save to buy a property. Prime Minister Scott Morrison said it…
Rather Than Rolling In Profits, They’re Going To Sell At A Sacrifice
Two reports from CNBC. "Your home may be many things. But one thing it is not is a great investment, according to Jonathan Clements, editor of HumbleDollar.com and author of 'How to Think About Money.' That’s because the price appreciation…
Sitting Mostly Empty And In Trouble With Its Lenders
A report from the Buffalo News in New York. "Eighteen months ago, the network of companies run by Robert C. Morgan was one of the fastest-growing apartment owners in Western New York. Now, with two executives pleading guilty to federal…