Mortgage Market Drop
Mortgage Market Drop
Year over year mortgage applications dropped approximately 41%.
Yes, mortgage applications to buy a home, are down to a 28 year low! Read more 
Home Sales Down – Home Listings Up
Home Sales Down – Home Listings Up
San Diego – Phoenix Home Sales
The biggest Home Sale Crash in 10 Years!
The National Association of Realtors just reported a 14% YoY Decline in Home Sales!
Read more
2022 Real Estate Market Drop
2022 Real Estate Market Drop
Home mortgage rates jump to a 13-year High!
Home mortgage rates are now at their highest level since August 2009!
Yes, currently a 30-year fixed mortgage will cost you in the range of 5.27% which is up from 5.10% just last week! Home mortgage rates have jumped up about two percentage points just from the start of the new year! Read more
2022 MORTGAGE CRASH
2022 MORTGAGE CRASH
Many have been speculating what’s going to be the key factor to bust the residential real estate housing bubble. Well, it looks like we now have an answer to that, and that is . . . quickly rising home mortgage rates combined with the fact that in many local housing markets, local residents have been priced out of the housing market because of the surging home appreciation.
Here in Phoenix Arizona, a recent report out shows that just about 25% of the residents can afford the average residential home! Usually when there’s such an imbalance in affordability, it marks the top of the housing market. Read more
Mandates effect on real estate values
Mandates effect on real estate values
We are witnessing in real time the collapse of small business, small enterprise, real estate and peoples lives.
We are witnessing segregation being reborn in America. We are witnessing crime hit levels that we have never seen in our lifetimes and my fear is that this is just the beginning. Read more
Housing Market – Lumber Price Crash
Housing Market – Lumber Price Crash
This is a great informative video just published today. For my new readers, I’d like to note, that I pointed this out as one of my major red flags for calling a top in the U.S. housing market back on June 17, 2001 ( https://www.brokerforyou.com/brokerforyou/real-estate-market-bust/ ). As this current video points out, it’s the same factors that caused the huge spike in lumber prices and now the crash of lumber prices, that have affected our housing prices. Also, as I pointed out, housing prices move very slowly, they not like the lumber futures market or the stock market, where you can have major moves in a couple of hours or a day or two, housing price trends always takes a couple of months to reflect the real trend or change in direction.
Ever since I called the top of the real estate market last month I see absolutely no factors that would cause me to change my opinion. Actually, I put off my search for a retirement home up in Prescott Arizona, because I am convinced that a year from now prices will be substantially lower than where they are today!
Real estate market bust!
Real estate market bust! (Note -published June 2021)
Real estate market bust!
For well over 18 months now the number one question when talking about the real estate market has been when is the market going to turn down? Naturally, there’s been lots of speculation, but until now there have not been any conclusive signs of out in our way overheated real estate market.
Two days ago I wrote a post, ( https://www.brokerforyou.com/brokerforyou/real-estate-market-downturn/ ) where I speculated that because of the large number of price reductions occurring in just one very hot residential real estate market in Arizona, it was my opinion that the entire U.S. market had topped out and is now ready for a downward move of the substantial magnitude.
Well, for the last couple days I’ve been looking for other indicators to confirm my theory. I’ve now found those indicators, and must say, without hesitation are now in the topping out phase of one of the craziest residential real estate markets that I’ve ever seen! Read more
MASSIVE Housing Bailout
MASSIVE Housing Bailout about to happen
It used to be that the object was to pay off your mortgage, hence “the mortgage burning party”, now increasing your servitude to the government/bank by 40 years is a reason to rejoice? In essence, this will make many into permanent renters of their your own homes!
Yes, yet another great government idea, kind of like ‘interest only’ payments were. Great job government and banks . . . on keeping people in debt even longer. Democrats don’t believe in personal accountability. The government is just kicking the can down the road… This is not going to end well, apparently no one is held accountable for their actions anymore. Read more
Housing Bust – Who is Really to Blame?
Housing Bust
Being in the front lines of the residential real estate market for many years it’s always been quite clear to me that it was government policies that precipitated the housing bust. Talking with many Californians about the disaster in the real estate market, it would seem that many have a short-term memory deficiency.
Timeline of Our Financial and Housing Crisis
It's ironic that excess spending (buying homes well beyond any realistic debt to income ratios, home equity loans exceeding 100% of value, etc.) got the economy into this mess and now many believe unbelievable excess spending will get us out of this depression.
But, far more ironic is the fact that the same politicians that were warned about just this situation, and chose to ignore the warnings, are the very people now still in power who are saying they have the right ideas on how to fix the problem.
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