Real Estate Rents are DROPPING
Real Estate Rents are DROPPING
Landlords in the US Rental Market are being forced to cut the rent in cities like Las Vegas, Austin, and Phoenix due to declining demand and increasing vacancies.
The rent cuts could be the prelude to a selloff by these landlords later in 2023 and 2024 as some are now losing money on their rental property. Read more
San Diego Anti-Landlord Ordinance
San Diego Anti-Landlord Ordinance
Critics of the tenant protections and regulations view them as overly burdensome for landlords, potentially hindering their ability to manage their properties or make a profit. Some argue that these regulations discourage investment in rental properties, reduce the supply of affordable housing, and ultimately lead to higher rents.
Until you clean up the vagrants oops I mean unhoused tent people, you will only have a bust on those projects. Look at all of the buildings in Downtown San Diego, because of the thousands of “Unhoused” people, the people living in their apartments are being assaulted by the homeless vagrants and finding them “unhoused” people in front of your business leaving dirt and poo there should be the issue to solve before ever building more buildings that aren’t affordable. Read more
Airbnb Bust
Airbnb Bust -Housing Market
Some believe that Airbnb owners are about to cause a massive housing crash in certain cities across America in 2023 and 2024.
The Airbnb Bust is the new trend where revenues for Airbnb owners have plummeted by as much as 50% in areas like Phoenix, Austin, and Tennessee. Read more
Sad State of San Francisco Retail Space
San Francisco Retail Space
Closed stores. Abandoned offices. Empty buildings. There’s concern over San Francisco’s future and what needs to be done to attract businesses and tourism.
“This is a big wake up call…” Sh-t that alarm clock has been buzzing for years and SF politicians keep hitting the snooze button! Read more
Biggest Real Estate Investor Drop in US History!
Biggest Real Estate Investor Drop in US History!
A massive collapse in real estate investor homebuying in 2023 was just reported.
Yes, real estate investor purchases are down 49% YoY across America. Plus in Phenix, real estate investor purchases are down 64%. Read more
New 1% Mortgages
1% Mortgages
Although many believe a zero down or 1% down home mortgage is a great deal, it’s really a very ominous sign of how bad our current real estate market is getting.
Now, both Rocket Mortgage and United Wholesale Mortgage are now offering qualifying homebuyers 1% down mortgages. Read more
Memorial Day Tribute
Memorial Day Tribute
Remembering those who gave it all so that we can live in freedom. Speech from Ronald Reagan, 1985. Arlington National Cemetery.
Home Mortgage Rates Over 7%
Home Mortgage Rates
Today’s national 30-year mortgage interest rate for today Tuesday May 23rd 2023 the current average interest rate for The Benchmark 30-year fixed mortgage is 7.03%, increasing 12 basis points over the last week now, if you’re looking to refinance your current mortgage, the average 30-year refinance interest rate is 7.07%, which is unchanged from a week ago.
Housing Market 2023 Outlook
Housing Market 2023 Outlook
Brutal earnings report just out from Home Depot. This is their worst earnings report since 2009. A signal that the 2023 recession is getting worse.
mm
Watch for the Housing Market to get hit next. Home Depot reported a 9% YoY decline in net earnings as homeowners pinched pennies because of the bad economy. A driving force behind Home Depot’s lower earnings was likely a big decline home sales. Read more
BIG DROP in Consumer Spending
BIG DROP in Consumer Spending
Bank of America has reported a huge slowdown in consumer spending in the USA.
Which is a major 2023 recession warning. This suggests that we could see job losses spike in future months with home prices and stock prices declining. Read more