Many Developers And Investors Struggling To Stay Afloat
https://www.youtube.com/watch?v=F9wNLp04FkM https://www.youtube.com/watch?v=ZupDZFF4G60 https://www.youtube.com/watch?v=uZNNemfjdG8
The Housing Market Is Unraveling As Prices Come Down From Their Peak
A report from the San Francisco Chronicle in California. "Ben Jiang retrieved a key from a lockbox and worked to untangle a mass of chains securing the front gate of his house. Inside, raunchy graffiti covered several walls and doors,…
Sellers Worry They Missed The Top And It Is Going Down, They Want To Get Out
A report from the Seattle Times in Washington. "The result of the slower market for buyers who are still trying to make a deal? They are no longer 'making a faster decision on buying a house than you would [when…
The Latest Sign That The Climate Of FOMO Has Swiftly Turned To Regret
A report from Reuters. "U.S. single-family homebuilding tumbled to a 2-1/2-year low in November and permits for future construction plunged. It put residential investment on track to contract for the seventh consecutive quarter, which would be the longest such stretch…
If You Sign On That Dotted Line And Prices Have Declined, You’re On The Hook
A report from the Pueblo Chieftain in Colorado. "'There’s layoffs coming, I am sure,' said Randy Nobiensky, self-employed contractor with RH Builders. 'We are all connected, all in the same boat, and with the interest rates where they are. People…
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…
One Home Builder After Another Defaulted On Their Debts Or Pleaded With Creditors
A report from the Sun Sentinel in Florida. "In the wee hours of Thursday morning, the folks who want a private 30-story condo built on a prized piece of taxpayer-owned beach in Hollywood went home without a deal. The project…
The Difficulty In Selling Stems From Its Price Point
A report from the Orange County Register in California. "The talk of 'risk' isn’t a subject frequently heard among housing analysts and industry insiders. It’s also a good time to be in the transactions business with the quick pace of…
If Sellers Keep Dropping Their Prices, It Can Start A Downward Spiral
A report from the Bay Area Newsgroup in California. "A federal court has authorized a receiver to seize control of the properties and operations of bankrupt Bay Area developer Sanjeev Acharya and his real estate firm, which are the focus…
It Was A Bad, Perfect Storm
A report from Bolly Inside. "Flexible workspace provider Knotel has filed for bankruptcy and has announced plans to sell its business to listed real estate services company Newmark, the company said on Sunday. The pandemic has punished several workspace companies.…