They Thought They Could Never Go Wrong
A report from Houston Agent Magazine in Texas. "Y’all, I hate to lick all the red off your candy, but the days of a super-hot real estate market are behind us (at least for now). While on the surface, that…
Everyone Wants To Pay Tomorrow’s Price
A report from the Orange County Register. "California's latest homebuying debacle is a pumped-up storyline we've seen before — even if each housing bubble has its own shape and size. The median price of an existing, single-family home in California…
You’re Bleeding Money, Before It Was Free Money
A report from the Los Angeles Times in California. "Industry experts generally agree that L.A.’s luxury market has slowed down this year, and the data agree. 'I’ll do anything to sell,' said the owner of one home in Brentwood who…
Those People Who Saw The Extraordinary Capital Gains Were Thinking That They Might Miss Out On Growth, But Are Now Realising We’ve Come Back To A Normal Market
A report from the Mercury News in California. "'Silicon Valley Bank’s collapse is good for real estate,' said Chris Thornberg, an economist and founder of Beacon Economics. 'I mean it. If it forces the Federal Reserve to truly sit on…
Central Banks Have Swung From Frenetic Money Creation To The Monetary Death March
A weekend topic starting with 48 Hills. "If you were looking for an event that epitomizes the neoliberalization of the University of California, you’d be hard pressed to top the UCLA Institute of Transportation Studies’ 2022 Lake Arrowhead Symposium. Despite being…
The Gargantuan Phalanx Of Flimflammers And Rug-Pullers
A weekend topic starting with Time. "The idea that banking mistakes could plunge the U.S. economy into a recession is familiar—the Great Recession that began in 2007 was caused when banks made risky home loans and then sold to lenders…
A Lot Of It Is Just Evidence Of Failed Speculative Activity
It's Friday desk clearing time for this blogger. "After reaching a peak of $670,000 in May 2022, median home prices in Northwest Austin have been consistently declining since August, according to the Austin Board of Realtors. February marks the seventh…
We’re In The Middle Of A Housing Market Bust, So We’re Gonna Watch Prices Tumble
A report from Reuters. "A 'bull case' scenario for the shares of beleaguered First Republic Bank as it considers its options became more difficult on Wednesday after Treasury Secretary Janet Yellen said there is no discussion on insurance for all…
For 30 Years The Fed Has Merrily Fed Us Easy Money Policies, Then Expressed Shock – Shock! – That Those Policies Led To Disaster-After-Disaster
A report from the Seattle Times in Washington. "The failures of Silicon Valley Bank and Signature Bank have reverberated across Seattle’s housing market. Even as regulators rush to stabilize banks, some buyers may wonder if 'these are just sort of…
The Most Reckless Monetary And Fiscal Experiment In History
A report from NBC News. "Silicon Valley Bank is shutting down. The California Department of Financial Protection and Innovation said Friday that it was taking over and closing the distressed bank to protect deposits, naming the Federal Deposit Insurance Corporation…