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…
Some Facts That Are Inconvenient For The REIC Narrative
A weekend topic starting with Yahoo Finance. "Fannie Mae Chief Economist Doug Duncan joins Yahoo Finance Live. 'We saw something on the order of 18% increase in house prices in 2021 following about a 15% increase in 2020. Our estimate…
The Late Stages Of A Speculative Fever
It's Friday desk clearing time for this blogger. "Redfin economists expect the 30-year fixed mortgage rate to continue to rise steadily to 3.9% over the course of the year. For the four-week period ending January 30, the monthly mortgage payment…
They Probably Had Bigger Eyes Than Brains
A report from Mortgage News Daily. "Locks are certainly not repeating 2021 levels for January, with initial anecdotal pipeline numbers down 30-40 percent. Are you reducing costs accordingly? When the residential lending market is good, owners think they’re the smartest…
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,…
The Great Global Experiment On Free Money Is Drawing To A Close
A report from NBC News. "'As we move through the year, we will see slower sales activity,' said Lawrence Yun, chief economist at the National Association of Realtors. 'Intense multiple-offer days are over… people can take their time. I think…
We Thought It Was Here To Stay, But Maybe It’s A Golden Age That’s Come To An End
A report from the Florida Times Union. "Alex Sifakis, president of JWB Real Estate Capital in Jacksonville, said his company now manages 4,300 single-family rental properties in the city and owns another 400 of them. From the investment side, he…
Sellers Will Not Be Able To Simply Wait It Out Till They Get The Price They Want
A weekend topic starting with the Messenger Inquirer in Kentucky. "In recent months, CNN, the Washington Post and several other national media outlets have asked if America is heading into another housing bubble. The general conclusion has been that economists…
Does Anyone Benefit?
A weekend topic starting with Reuters. "The great unwinding of bloated central bank balance sheets could start as soon as next week. While investors have been in thrall to the U.S. Federal Reserve's hawkish anti-inflation twist in 2022, the Bank…