Home Mortgage Rates
Home Mortgage Rates Increase
On Monday, home mortgage rates climbed to near a 22-year high. Yes, the average of nationwide rates for a 30-year fixed rate, new purchase loan with an 80% going to value and a 770 to 760 FICO score, and no discount points was at 7.82%. Now, keep in mind, home mortgage rates very widely between various lenders. This is why if you are seeking a home mortgage loan it pays to shop at least three reputable lenders in your area. Read more 
Real Estate Market worse than 2008
Real Estate Market worse than 2008?
Homebuyers are buying houses they can’t afford in 2023, a situation that will likely cause foreclosures to surge in the coming years.
With Fannie Mae reporting that the debt-to-income ratio in the Housing Market has hit an all-time high. Read more
Real Estate Investors Suffer Losses
Real Estate Investors Suffer Losses
Just over 30% of homes sold by investors lost money in Phoenix, Arizona. Phoenix was followed by Las Vegas, Nevada, (28%), Jacksonville, Florida, (20.9%), Sacramento, California, (20.2%) and Charlotte, N.C. (17.4%).
In a recent report by Redfin, showed that in March, real estate investors on average, lost money on roughly 13.5% of the homes they sold, while only 4.8% of overall U.S. homes sold at a loss. Read more
Housing Market Homebuyer Demand
Housing Market Homebuyer Demand
Homebuyer demand in today’s housing market has plummeted!
Higher interest rates have caused both Home Prices and Stock Prices to begin declining again over the last month. Read more
Home Prices and Federal Reserve
Home Prices and Federal Reserve
Sure seems like the Federal Reserve wants to engineer a situation where people are forced to sell their homes because of job loss. And sell those home at lower prices because of the higher interest rates!
Jerome H. Powell said it months ago that the “real estate market needs a reset” and “job market will see some pain”. Those words came straight from the guy who decides the direction of monetary policy…I’m not betting against it!
Home Mortgage Rates
Home mortgage rates Jump to almost 22 Year High!
Average 30-year mortgage rate jumps to the second-highest rate since 2001! Read more
San Diego’s Housing Agenda
San Diego’s Housing Agenda
When landlords withdraw their efforts to provide rental housing a shortage will result. That creates an upward pressure on rents thereby making rents even less affordable. This form of rent control has been tried before so many times but has never worked. If it ever did it would be utilized in every rental property across the country.
Honestly, it seems painfully clear it is time to no longer be a landlord in California. This is just the beginning of the path California is walking. It is not going to get better for landlords. The small guy is going to be crushed. Read more
2023 Housing Market Outlook
2023 Housing Market Outlook
Housing market crash or not?
Some homebuyers and real estate investors are interpreting this slow pace of price declines as a sign that the Housing Market won’t crash. Read more
Commercial Real Estate Recession
Commercial Real Estate Recession 2023
The Federal Reserve is eying commercial real estate as a looming risk to the U.S. economy. According to a survey conducted by the central bank, real estate is one of the top five potential risks to U.S. financial stability in the next 12 to 18 months. Banks in the U.S. today, hold nearly $3 trillion in Commercial Real Estate Debt. That’s twice as much as what Subprime Debt was in the 2008 real estate crisis.
Now some owners of commercial properties are going into default. Read more
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