A report from the Mercury News in California. "In an opportunity most would-be Bay Area homeowners can only dream about, a handful of buyers snagged nine condominiums in a downtown San Jose housing tower at auction — paying an eye-popping…
A weekend topic starting with Strong Towns. "In 2008, the list of investors swimming naked was long. Among them were America’s banks, big and small. Their reserves were investments believed to be the most secure, including AA- and AAA-rated mortgage-backed…
A weekend topic starting with the Capital Gazette in Maryland. "The Annapolis City Council is once again plunging into the morass of short-term rental legislation … and is once again stubbornly refusing to recognize the difference between owner-occupied and non-owner-occupied…
It's Friday desk clearing time for this blogger. "Silicon Valley Bank lost $1.8 billion in the sale of U.S. treasuries and mortgage-backed securities that it had invested in, owing to rising interest rates. The bank is also contending with shrinking…
It's Friday desk clearing time for this blogger. "In March 2020, Mark Joseph bought his first home: a spacious three-bedroom, 2.5-bedroom house in Saint Louis. He and his wife had recently had their second child. Joseph was convinced 'someone else…
A report from Silicon Valley. "Last year 'just got really bumpy real quick,' said Janine Hunt, an agent with Red Oak Realty in Oakland. 'We knew it was coming. What goes up must come down.' The median price of existing…
A report from KMOV in Missouri. "While winter is a slow time of year, St Louis realtor Cathy Shaw Connely said inventory remains fairly low, despite rising interest rates. 'Yes, it’s going to affect the amount of house they can…
A report from 5280 in Colorado. "This past summer Point2 showed metro Denver homes, on average, increased in price $94 each day between 2011 and 2021. As interest rates increased and the economy started to slow in mid-2022, real estate…
A report from the Associated Press on Florida. "'Prices never go up forever,' said Ana Bozovic, analyst at Analytics Miami. 'The steady ramp up we have had through mid-2022 was neither normal nor sustainable.' Housing prices fell again last month…
A report from the New York Post. "Fed officials seemed to oppose taking more aggressive action as recently as last month. Fed Chair Jerome Powell told reporters that half-percentage-point hikes were 'on the table' at meetings in June and July…