There Is A Bubble To Burst
A report from Fox 13 in Utah. "Matthew Clewett bought his first home in Kaysville back in 2021. Since May, the board says those prices have dropped 22 percent. 'It was an offer that I actually had to pay above…
It’s Robbing Ah Seng To Pay Ah Huat
A report from Mansion Global. "What goes up, must come down. That’s apparently the motto of the current U.S. housing market, which, after a wildly prosperous peak-pandemic run, is now seeing values plummet. Homeowners across the country have collectively lost…
I Don’t Want To Give My Place Away, Is A Common Refrain
A report from ABC 15 in Arizona. "'Home prices are now down 8% in Phoenix compared to the 2022 spring peak, which is twice as large as the decline in prices nationally, but still lower than declines in the Bay…
It Was Quite Irresponsible For The Bank To Lend Us This Much, And They Would Have Lent Us More
A report from Yahoo Finance. "Around 42% of homes sold in the final three months of 2022 included some kind of concession from the seller, Redfin data found. A separate study found that 13.6% of sellers also slashed their listing…
Some Agents Have Reported That Numerous Cheeky Offers Are Now Being Presented To Sellers
It's Friday desk clearing time for this blogger. "RE/MAX reported the median sales price in the Los Angeles metropolitan area, including Orange County, in Dec. 2022 was $810,000, a 4.7% drop from the previous year's $850,000 sales price. The San…
As The Fed Ends The Era Of Free Money, More Levered Speculators And Unscrupulous Behavior Get Exposed For What They Always Were
A report from Click Orlando in Florida. "Orlando resident Jeriah Owens is searching to buy her second home. She told News 6 that as a single mom especially, it’s been a little frustrating with the up and down interest rates…
An Annus Horribilis, A Bargain Hunter’s Paradox, Planting A New Garden
A weekend topic starting with Yahoo Finance. "At an event this week at a swanky restaurant atop the Equinox Hotel in Hudson Yards, New York City — the firm's CIO Tony Roth opened evening discussions by arguing '3% is the…
Investors Swimming Naked And Carrying Big Liabilities
A report from the Pahrump Valley Times in Nevada. "Pahrump home sales and prices slid slightly in the last two months of 2022, according to data released by Las Vegas Realtors. December 2022 was a 'bust' compared to the 'bang'…
The Craziness Will Go Down In History As A Once-In-A-Generation Boom That Was Not Sustainable
It's Friday desk clearing time for this blogger. "In June 2021, when the cryptocurrency markets were soaring, the developers of the Arte condominium in Miami’s Surfside neighborhood announced that a buyer had purchased a penthouse there for $22.5 million in…
Pay Less Attention To, Or Even Ignore, What Sellers Are Asking For
It's Friday desk clearing time for this blogger. "'The phone’s barely ringing,' said real estate agent John Silva of John Silva Realty & Associates in Orlando. 'Those high, skyrocketing prices we saw months ago, they aren’t moving anymore. They’re just…