Forced To Sell Out Once-Grand Visions
A report from the Dallas Business Journal. "As of year’s end, the home price index for the Fort Worth and Arlington areas was about 215, up from about 177 in Q4 2020. Prior to last year, the index had never…
People Get Hurt Believing In Stuff That Defies Rational Thought
A report from the Daily Mail. "Anyone who has tried to sell their home recently knows the property market can be brutal. And it seems that’s true whether you’re selling an apartment in Hampshire or a mega-mansion in Hollywood. There…
The Proverbial Tide Went Out
A report from Bloomberg. "Homebuilders are headed for their sharpest monthly nosedive since March 2020 as the stocks get pummeled by fears of rising rates. 'It’s a headwind to everybody across the sector, nobody is completely immune,' analyst Rafe Jadrosich,…
Prices Are Likely To Peak And Then Go Into Reverse, As Potential Buyers Will Be Able To Borrow Less
It's Friday desk clearing time for this blogger. "After five months on the market, Leonardo DiCaprio has found a buyer for his Los Feliz home. The actor listed the property for $5.75 million in August, but after a series of…
Prices Are Falling And The Property Market Craters
A report from Spectrum 1 on Massachusetts. "'Landlords have gotten hosed the whole time here,' said Mike DeLuca, who owns 35 rental units in Worcester. 'It’s all about of the tenants. I’ll tell you right now, these landlords are never…
Investors Tend To Be Leveraged Up To The Eyeballs
A report from Market Watch. "Airbnb had been on track for its biggest drop ever, falling more than 13% in intradrading and becoming the worst performer in the Nasdaq 100, according to Dow Jones and FactSet. Its shares have never…
Events Of Default Will Occur Or Have Occurred
A report from CNBC. "There's a 'big risk' of real estate companies filing for insolvency when interest rates rise, said Nils Kuhlwein of consulting firm Kearney. The real estate sector had the highest absolute number of 'zombie' companies and the…
Consumers That Were Previously Approved Are No Longer
A report from the Philadelphia Inquirer in Pennsylvania. "For most families, owning property is the primary way they build wealth. As prices start to cool off over the next few years from sky-high growth, some people may find that their…
Unprecedented Levels Of Stress Threaten To Drag Good Credits Down With Bad
A report from the Northside Sun in Mississippi. "'People are paying so much more for houses than they did a year and half to two years ago,' said William Fincher, a Realtor in Madison County. 'They are paying $40,000 to…
The Debacle Adds To A String Of Defaults And Distress
A report from Newsday. "After offering protection for homeowners for nearly two years, New York state’s moratorium on foreclosures is set to expire Saturday, and data show 14,500 Long Island borrowers are seriously behind on their mortgages. Nick Sakalis, a…