A hub for independent voices and hard truths
Amid rising financial pressures, a recent LendingTree study reveals that over 18 million Americans are living in homes that strain their budgets, highlighting a growing crisis of being house poor in high-cost states like California, Hawaii, and New York. House Poor Americans: A recent study by LendingTree revealed that more …
Check out the article about how California has 6 of the 10 counties nationwide with the highest risks of home-price declines. California’s high-risk counties are less-populated regions to the north. Their prices may have been pushed out of economic balance by remote workers seeking cheaper homes to live in away from the …
The Florida housing market has been experiencing notable shifts. While the overall state-level home prices have been steadily growing, there are specific areas where inventory has surged dramatically. For instance, in ZIP codes like Port Richey, located north of Tampa, listings have nearly tripled compared to last year, with a staggering 248% growth in listings …
This is the most unaffordable US housing market Home prices, adjusted for inflation, are much higher than even the peak of the pre-Financial Crisis period To put this into perspective: Median home prices had reached $350,000 in 2006 Today, it is just shy of $400,000 pic.twitter.com/9EqDrYGSmF — Bravos Research (@bravosresearch) …
Home foreclosures rose again in May as Americans continue to grapple with the ongoing cost-of-living crisis. That is according to a new report published by real estate data provider ATTOM, which found that there were 32,621 properties in May with foreclosure filings, which includes default notices, scheduled auctions and bank …
Top 10 Housing Markets with the highest price cut rate in May 2024. More price cuts mean more seller desperation. And a greater likelihood that prices drop in the future. 1. Tampa – 37% price cut rate 📉2. Austin – 36%3. Colorado Springs – 36%4. Denver – 36%5. Jacksonville… pic.twitter.com/F3mGea53MK …
https://twitter.com/PhilipSoos/status/1799291895174349135 https://twitter.com/PhilipSoos/status/1799611778672050337
The over-7% mortgage rates seem to have become a fixture in the housing market. The average conforming 30-year fixed mortgage rate edged up to 7.07% in the latest week, and has now been above 7% since early April, according to the Mortgage Bankers Association today. During Rate-Cut-Mania, the average mortgage …
8) You can get a sense of this "reversion" by looking at the metros with the biggest inventory growth over the last year. Where are they located…? Texas, Florida, Texas, Texas, Texas, Florida… Lots of supply coming online in these states. pic.twitter.com/kqBeCnkHwi — Nick Gerli (@nickgerli1) June 5, 2024 Housing …
The number of NEW single-family houses for sale has surged to 480,000 in April, the highest since the 2008 Financial Crisis. Excluding the 2008-2009 housing crisis this is by far the largest supply of new homes in US history. Here’s the FRED chart in case anyone questions the veracity of …
US housing has become the most expensive in history: The median sale price of houses sold in the US hit another all-time high of $387,600 in May, measured as a 4-week average. Prices increased 4% year-over-year and exceeded the June 2023 record. Since 2021, the median home… pic.twitter.com/K9ltjcfI85 — The …
HARRISBURG, Pa. (WTAJ) — The Pennsylvania Senate has introduced a bill that would bar illegal migrants from being eligible for public housing in the Commonwealth. Introduced by Senator Wayne Langerholc (R-Cambria, Centre and Clearfield), the legislation focused on a 2021 HUD requirement that made every illegal migrant eligible for a housing voucher. …
Remember when they started cutting interest rates in Aug of 2007 and it saved the housing market? Me neither. pic.twitter.com/3zQUGO6BvM — Darth Powell (@VladTheInflator) May 28, 2024
Foreign investment into China dropped for a 4th consecutive month in April. Inbound investements into China are as low as during the onset of the Covid crisis as the country struggle to attract foreign funds. pic.twitter.com/k8Zvr8NPW5 — Global Markets Investor (@GlobalMktObserv) May 27, 2024 China’s big housing rescue aims to …
by confoundedinterest17 I saw former President Obama criticizing former President Trump for not passing “transformative” changes. That is, Trump didn’t sign any Obama-like transformative changes (like Obamacare). Truimp did try to slow down the damage done by Obama and his transformative agenda (e.g., open borders, wealth redistritution, green energy) that …
1) Austin's housing market is a cautionary tale about what can happen in "boomtowns". Everyone moves in. The prices surge. Builders start pulling too many permits. And then, sooner than you know, the market flips. And inventory gets dumped onto the market as demand and prices… — Nick Gerli (@nickgerli1) …
Homebuilders Have the Most Inventory Since May 2008, Big Discounts Coming Speculative building, measured by started but unsold housing inventory, is at the highest level since May of 2008. https://t.co/VgkiA2sWJq — Mike "Mish" Shedlock (@MishGEA) May 25, 2024 The echoes of 2008 are deafening as the housing market teeters on …
Suffering badly are consumer sentiment and real estate, two areas entwined because housing prices have tumbled since 2021—including 10% since the start of the year—yet property is where most Chinese put their investments and savings, so the slump is causing a freeze on spending. New home prices in April fell …
What he describes is also being seen in other nations too. Canada’s housing bubble is actually far worse right now than America’s was in 2008. All the signs seem to be pointing to the early stages of a worldwide Great Depression beginning to form. I lost my job in the …
by Michael This is a very bad time for those that work in the real estate industry. Thanks to the Federal Reserve, mortgage rates are much higher than they were a couple of years ago, and this has deeply frozen America’s housing market. Millions upon millions of U.S. homeowners are currently …
There’s a common belief that Americans would be in a significantly better financial position if only they could afford to buy a home. But has buying (particularly with a mortgage) and maintaining a home historically been that much cheaper than renting? If so, how much have homeowners saved on average? …
Canada is facing a worsening housing affordability crisis as the country experiences an unprecedented surge in population growth. According to Statistics Canada labor force data, the working-age population has increased by a staggering 411,400 people in the first four months of 2024, a 47% increase compared to the same period …
1) But not only is inventory in Dallas exploding. So are price cuts. With the share of sellers reducing the price surging up to 30% in Apr 2024. That's the 2nd highest price cut share of April going to 2017. Yet another sign that Dallas' market is in a downturn. …
Fresh out of school after studying chemistry, she joined one of China’s biggest property companies in 2016, as the country’s real estate market was taking off. She worked until 11 p.m. every day and was transferred to a bigger city after being designated a “sales champion.” She pampered herself in …
By their estimates if the Fed does this the 10 year yield could go to 6-8%. RIP housing if this were to play out. Borrowing costs would go through the roof. Linkhttps://t.co/Sagaj8UGhD pic.twitter.com/F8Y5a498TO — QE Infinity (@StealthQE4) May 19, 2024 Fed’s $7.3 trillion balance sheet is worrying the world’s largest …
A child-care crisis, spurred by a bigger affordability crisis in general, is unfolding on many Americans. The average cost of child care for two children, which the majority of American families have, is greater than the average price of rent in all 50 states in the country, according to a …
by ComputerTrashbag Inventory in almost all major areas is extremely high now. Bubble hotspots like Austin, Boise, Phoenix, Asheville, Jacksonville, Las Vegas etc etc haven’t seen much price reduction even though inventory has returned to pre pandemic levels. Inventory is sitting for months. Why? Because there is no active suffering. …
US rents have surged 1.5 times faster than household incomes in the past four years, with nationwide rents soaring by around 30% while average salaries only rose by 20%. This trend of rental cost increases outpacing wage growth is evident in all but six of the top 50 metropolitan areas, …
The impressive run that created the biggest housing bubble in all America’s history is officially over, and now something really disturbing is happening in the U.S real estate market. After an impressive boom during the pandemic, which led average home prices to jump by more than 40% over a span …
