A Lot Of People Are Now Underwater
A report from Barron's on Idaho. "It wasn’t so long ago that homes in Boise were a hot commodity. But now? 'Nobody wants to buy a house in Boise right now, and nobody wants to sell a house either,' Redfin…
The Burden Of CRE Credit Became Unbearable For Borrowers And Lenders Alike
A weekend topic starting with the Telegraph. "The underlying crisis in the banking system continues to deepen as $5 trillion of commercial real estate debt taken out during the zero-rate era comes due in tranches. 'It’s not a liquidity problem;…
We Have People Who Are Overextending Themselves And They Can No Longer Use Their House As An ATM
A report from KTVQ in Montana. "The once-unsure market appears to be stabilizing. Prices are trending downward, which will be a positive for potential buyers. 'We’re very close to what we were in 2022,' said Nicole Morrow, who is a…
For Public Services And Public Spaces To Be Degraded – That Can Be A Doom Loop
A weekend topic starting with the Los Angeles Times. "The recent mayoral election in this sleepy, conservative town nestled in the foothills outside Boise didn’t hinge on which Republican candidate was a fiercer supporter of former President Trump, or who…
The Cascading Effect Of Less Credit And More Expensive Credit
A report from the Seattle Times in Washington. "The Seattle-area housing market remained lethargic in November, as high interest rates converged with the typically slow season. A luxury Alki condo building announced in late November it would cut prices by…
The Price Has Dropped So Much, I’m Speechless
A report from the Mercury News in California. "It might be hard to fathom in this real estate market, but one in eight home sellers in San Francisco and on the Peninsula is now taking a loss. How can that…
The Myth Of Rising Prices Has Been Completely Destroyed
A report from the Green Bay Press Gazette. "Market conditions have shown signs of improvement for Wisconsin homebuyers as the state’s busy season ends. The problem for many buyers has long been a lack of homes for sale. But there's…
The Property Slump Sweeping The Globe
It's Friday desk clearing time for this blogger. "The tough housing market has been especially hard for condo owners. Rufina Cappelli has lived in her St. Petersburg condo for 28 yards, but this month, she’s grappling with a new reality…
This Was An Era Of Extraordinary Speculation
A report from US News and World Report. "'Even though new home sales have been solid, builders are increasingly having to react to weaker demand amidst growing unaffordability,' said Bright MLS Chief Economist Lisa Sturtevant. 'While the median price of…
Liquidity Is Still Limited, Leading To An Unreasonable Decrease In Selling Prices
A report from the Marin Independent Journal. "The median price of a detached home in Marin has declined nearly 7% over the past year. The median figure for last month was $1.65 million, down from $1.77 million in September 2022,…