The Housing Bubble Blog

A weekend topic starting with WTOP. "'We’ve seen a huge slowdown in demand. In fact, I’m talking to real estate agents who are canceling open houses because they say nobody is showing up right now,' said Diana Olick, who has covered real estate for CNBC for two decades. 'The sky is no longer the...

https://www.youtube.com/watch?v=FscRlX06FY4 https://www.youtube.com/watch?v=j4GaoUinRuk

It's Friday desk clearing time for this blogger. "The Federal Reserve looks on course to lose money next year as it raises short-term interest rates to try to rein in inflation, according to former New York Fed President William Dudley. 'If they’re losing money they’re not going to be selling...

https://www.youtube.com/watch?v=WC-TbxZlNKM https://www.youtube.com/watch?v=K6oPgxGS310

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 — though he said at the time the guidance was contingent...

https://www.youtube.com/watch?v=IOiftlHdJio

A report from Deseret News. "Real estate firms Redfin and Compass both announced significant layoffs Tuesday. 'To all the departing people who put your faith in Redfin, I’m sorry we can’t keep our commitment to you,' wrote Glenn Kelman, Redfin’s CEO." From Business Insider. "One economist said US...

https://www.youtube.com/watch?v=ivU_34wgDmc https://www.youtube.com/watch?v=9Vj14F8LkoI

A report from Bloomberg. "Cryptocurrencies plummeted so violently that a popular lending platform froze withdrawals to prevent a very modern kind of bank run. It was enough, for some, to resurface scary memories of the global financial crisis more than a decade ago. Christian Hoffmann, a portfolio...

https://www.youtube.com/watch?v=SlNLidR_OKY

A report from the Marin Independent Journal. "Gloria Othon, 61, poured $115,000 into a year-long project to remodel the bathrooms and kitchen of her San Jose home. Othon and her husband bought the house in the Berryessa neighborhood in 1998 for $350,000. Othon listed the house last week for $1.788...

https://www.youtube.com/watch?v=veNftzQk1Kc

A report from the Patriot Ledger in Massachusetts. "'Since the prices have gone up so quickly, there's a lot of people that don't qualify,' said Iva Sandra Andrade, a Brockton-based Realtor who joined the real estate industry in 2015. 'And now, with interest rates going up as well, it knocked out a...

https://www.youtube.com/watch?v=38NKniuRDMA

A weekend topic starting with Fortune. "Last year, months before the Federal Reserve began raising interest rates to combat inflation, former Treasury Secretary Larry Summers warned that inflation was already a problem, and would get a lot worse in 2022. His predictions were accurate. If Summers is...

https://www.youtube.com/watch?v=v7hK3xxZkHU

It's Friday desk clearing time for this blogger. "On Thursday, Freddie Mac deputy chief economist Len Kiefer tweeted about what this downward shift means: 'The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006.'" "The MBA's index which...

https://www.youtube.com/watch?v=QE99y_KJkfE

A report from BoiseDev in Idaho. "April Florczyk, the founder of 208 Market Real Estate, told BoiseDev that dynamics are shifting – especially in Ada County. 'The average active price is almost $150,000 higher than the sold price,' she said. 'Inventory levels between the month of April to the month...

https://www.youtube.com/watch?v=ygTh-EaFjGI