A hub for independent voices and hard truths
In contrast to the national trend, metropolitan areas with a population exceeding one million that witnessed a decline in foreclosure starts in Q3 2023 included Salt Lake City, Utah (down 74 percent) and Chicago, Illinois (down 35 percent). Read more: https://t.co/vE4UkH0d3l — unusual_whales (@unusual_whales) October 17, 2023 https://twitter.com/MGuthner/status/1714822349998997567 h/t Simian_Stacker
by Jeeperg84 Parents are helping adult kids buy first homes This is becoming more and more the norm…guessing this is the only way alot of people have any shot at a home. https://www.nbcnews.com/nightly-news/video/parents-buying-homes-for-their-children-as-affordability-plummets-189032517692
Rates Are Ruining the Housing Market ⚠️Persistent inflation in shelter is evident at 7.2%, with rental inflation at 7.4% ⚠️The median mortgage payment, excluding fees and taxes, has surpassed $2,800 monthly ⚠️Since 1985, median household income has risen just under 40%, while… pic.twitter.com/rni6R4VyVK — Hedgeye (@Hedgeye) October 18, 2023 30-Year …
🇩🇪 German #Housing Crisis Deepens on Record Building Cancellations – Bloomberg*21.4% of residential builders said they were affected by construction projects being called offhttps://t.co/Iz8SejeV8B pic.twitter.com/nad0NhlXjB — Christophe Barraud🛢🐳 (@C_Barraud) October 16, 2023 Bloomberg: Germany’s housing sector slumps deeper into crisis as project cancellations hit a record Germany’s housing sector slumped …
by TonyLiberty The housing market is in a difficult state, with low inventory, high mortgage rates, and high prices making it difficult for buyers to afford homes. Despite aggressive interest rate hikes by the Federal Reserve, home prices have remained high. First-time homebuyers are having difficulty competing with investors, who are …
If these problems in major economies collide, it could spell global financial disaster soon, and it feels like we need some urgent solutions, but we’re not getting them. On top of that, the recent Treasury bond auction didn’t go so well, which adds to worries about the U.S. debt piling …
by TonyLiberty Florida is now the 2nd most valuable Real Estate market. Florida cities also make up 4 of the 6 fastest-growing housing markets in the US, with Tampa, Miami, Jacksonville, and Orlando all seeing significant home price appreciation (with property values up 72% to 89% in those cities) The …
DFW rents are now negative y/y, when I get my lease renewal and see the increase, I'ma tell them to f'uck off and move to one of the many apartments offering much lower rates. — goldenkazeburny (@goldenkazeburny) October 7, 2023
Canada’s housing market is causing alarm bells, and with more homes listed, many folks just aren’t buying. The Bank of Canada’s financial review highlights debt worries and younger homeowners taking a step back from the market. https://t.co/IqveoD5lGS Harsh new reality for homeowners as listings rise and buyer-pool shrinksIn its 2023 …
While you are distracted with petty daily infightings, this has been silently underway. You will own nothing and be happy… via businessinsider: The housing market is so unaffordable that only three extreme scenarios would return it to pre-pandemic affordability. US incomes would have to spike 55% to consider the current …
via Mike Shedlock: The Fed erroneously does not consider rising home prices as inflation. Here’s the result in pictures. Case-Shiller national and 10-city home prices vs CPI, Rent, and Owners’ Equivalent Rent Chart Note Case-Shiller measures repeat sales of the same home over time. This ensures an accurate comparison of …
Well, if you want a used car, you don’t go to the Lamborghini lot. Black woman sues NYC ritzy realtor Douglas Elliman and 35 of its agents ‘for failing to help her find low incoming housing,’ including one broker who sniffed ‘I only specialize in luxury real estate transactions’ A …
With the median mortgage payment exceeding the cost of rent by $1,000 per month and average new car payments and used car loan interest rates reaching new highs, households are feeling the strain of increasing expenses. The milestone of $1 trillion in credit card debt, coupled with record-high interest rates …
This century meaning since 2000. The early 80s were, according to most housing affordability metrics, worse than this. — Lance Lambert (@NewsLambert) September 27, 2023 Homes ‘unaffordable’ in 99% of nation for average American… The typical American cannot afford to buy a home in a growing number of communities across …
by elProtagonist As you can see from the graph, there is a direct link between the growth of AirBNB listings and housing prices. The economists have been looking at the housing market the wrong way. The problem is that RESIDENTIAL properties are being used for COMMERCIAL purposes. People are buying …
by IWEARYOURCLOTHES I just wanna start with the typical, I’m highly regarded so don’t take anything I say seriously and I have no diarrhea about what I’m talking about. So tonight at dinner my dad told me that someone he was talking to said that, the Bank of Montreal and …
It’s the trend all over the world. But things clearly got out of control in Canada. — Erich Winkler (@DecodedSecurity) September 25, 2023
Prior to 2020, just ~4% of all outstanding mortgages had an interest rate below 3%. Now, a massive ~23% of all outstanding mortgages have an interest rate below 3%. The share of borrowers that have an interest rate of 4% to 5% fell from 40% to 20%. Meanwhile, just 9% …
Even China’s 1.4 billion population can’t fill all its vacant homes, former official says Unsold, completed: ~7.2 million homes, according to Reuters calculations, based on the average home size of 90 square metres. That does not count: the numerous residential projects that have already been sold but not yet completed …
via JOHN RUBINO: Spiking interest rates are normally a death knell for homebuilders, for obvious reasons. Higher mortgage rates raise monthly payments, which crash house prices, which make existing houses cheaper than newly built ones, which causes demand for new houses to shrink, which causes homebuilders to lay off their …
https://www.youtube.com/watch?v=B3h68qhdg6k Tennessee Housing Market on the Precipice Nashville and Knoxville Real Estate Warning The housing crash is continuing to unfold across the country, but certain states are falling faster than others, and the state of Tennessee has now taken the mantle as the largest housing bubble in the US housing …
by confoundedinterest17 This isn’t Barbara Tuchman’s class novel about the horrors of World War I, but the ongoing horrors of Bidenomics with its guns pointed at the American middle class. Privately‐owned housing starts in August were at a seasonally adjusted annual rate of 1,283,000. This is 11.3 percent below the revised …
The current economic landscape raises concerns about the potential for significant wealth destruction when Housing Bubble 2.0, fueled by the Federal Reserve’s policies, eventually implodes. Housing Bubble 2.0: Recent data indicates that the implosion of Housing Bubble 2.0 is gaining momentum, with U.S. housing starts falling by a substantial 11.3%. …
1) Airbnb blowup will lead to huge amounts hitting the market at once. Disregarding the decline in profits from these, NYC just banned short term rentals below 30 days, that’s 40k units hitting the market 2) What needs to happen for the fed to sell MBS? Better hope inflation has …
Currently, existing mortgage holders in Sweden are making monthly capital repayments that are on par with the demand for new mortgage debt. This is quite an unusual scenario, and it carries bearish implications for house prices. In simpler terms, it suggests that the housing market is facing some headwinds. Adding …
The contrast between the United States in 1960 and 2023 is quite striking when you look at these key economic figures. Back in 1960, the median family income stood at $5,600, while the median cost of a house was $11,900. These numbers illustrate a very different economic landscape, where incomes …
Investor housing purchases in Phoenix are falling FASTER than during the GFC pic.twitter.com/gNzd5VFrFQ — Darth Powell (@VladTheInflator) September 14, 2023 Down from $2 million to only $1 million, in a few months, here in Tampa lol pic.twitter.com/AJGhyzokom — Andrew Lokenauth | TheFinanceNewsletter.com (@FluentInFinance) September 14, 2023 California existing home sales …
China’s property crisis is seen as one of the biggest stumbling blocks to a sustainable economic recovery, with rising risks of default among private developers threatening to imperil the country’s financial and economic stability. Moody’s on Thursday cut China’s property sector outlook to negative from stable, citing economic growth challenges, …
2/8 The amount of income you need to qualify for a mortgage has more than doubled. Logically, most of these people are left with one choice: stay in their current apartment or house, whether they like it or not. pic.twitter.com/UWrz0IxvWJ — Jeff Weniger (@JeffWeniger) September 12, 2023 4/8 When people …
