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…
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…
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;…
It's Friday desk clearing time for this blogger. "'The sharpest price decline in Utah’s real estate history occurred from May 2022 to January 2023,' wrote the report’s authors, housing researchers Jim Wood and Dejan Eskic. In those eight months, the…
A report from Reuters. "New home sales dropped 2.5% to a seasonally adjusted annual rate of 697,000 units last month, the Commerce Department said on Wednesday. May's sales pace was revised lower to 715,000 units from the previously reported 763,000…
A report from Business Insider. "After wealthy New Yorkers fled to the seaside haven on Long Island during the pandemic, the boom has ended. One Hamptons broker told CNBC that the area was 'chocked with supply,' while another told the…
It's Friday desk clearing time for this blogger. "The National Association of Realtors’ index of pending home sales fell 5.2% to a reading of 78.9 in March, according to data released on Thursday. On a yearly basis, pending transactions plunged…
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…
A report from Business Insider. "Home rehabbers are quickly finding that the once-reliable method known as 'BRRRR' — short for buy, rehab, rent, refinance, and repeat — has become much riskier as home prices in hot pandemic markets fizzle out…
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,…
It's Friday desk clearing time for this blogger. "Whenever the housing market slows significantly, layoffs in the mortgage industry follow. And that’s what happened Tuesday at Radian Group Inc., a Wayne firm that sells mortgage insurance and provides other services…