New Home Sales PLUNGE by 30%
New Home Sales PLUNGE by 30%
New home sales drop in April by 30%! Home Builders are beginning to abandon projects (and pull fewer permits) as a result.
US Census Bureau Data showed that Homebuyers purchased 30% fewer Newly Built Homes in April 2022 compared to April 2021. That’s one of the largest YoY declines on record and is further evidence that the housing crash has started.
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California Real Estate – It’s Over!
California Real Estate – It’s Over!
Yes, I’ve seen this before in 2005. . .home prices still going up while home sales are falling!
For those of you who may not be regular readers here is the link to the first warning blog post that I put out; my first post where I called the real estate market top was June 15, 2021 (https://www.brokerforyou.com/brokerforyou/real-estate-market-downturn/ ) . On June 17 I had a follow-up post ( https://www.brokerforyou.com/brokerforyou/real-estate-market-bust/ ) where I added additional indicators, that to me showed that the market was in a topping phase right now! I put the links to each one of those prior post above, and would suggest if you’re interested, to reread those posts! 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
Real Estate Crash?
Real Estate Crash
I found this video does an excellent job of explaining what fundamental factors are going to come into play during the new 2021 real estate market crash. For those of you have not been following my blog, my first post where I called the real estate market top was June 15, 2021 (https://www.brokerforyou.com/brokerforyou/real-estate-market-downturn/ ) . On June 17 I had a follow-up post ( https://www.brokerforyou.com/brokerforyou/real-estate-market-bust/ ) where I added additional indicators, that to me showed that the market was in a topping phase right now! I put the links to each one of those prior post above, and would suggest if you’re interested, to reread those posts!
Lot’s of commentators like to bring up sub-prime (ARM loans in particular), as the leading culprit for setting off the last value crash, and how this time it’s different. However sub-prime lending does not fully explain decline disparity between cities. Read more
Real Estate Rents Falling a new trend
Real estate rents falling
New York Real Estate has had it’s fair share of challenges thanks to the eviction moratorium, forbearances, rents decreasing, rent delinquencies and new property regulations.
Real Estate Market Top
Real Estate Market Top
My first post where I called the real estate market top was June 15, 2021 (https://www.brokerforyou.com/brokerforyou/real-estate-market-downturn/ ) just a couple of weeks ago. Then, two days later on June 17 I had a follow-up post ( https://www.brokerforyou.com/brokerforyou/real-estate-market-bust/ )where I added additional indicators, that to me showed that the market was in a topping phase right now! I put the links to each one of those prior post above, and would suggest if you’re interested, to reread those posts!
Today’s post, concerns my original indicator, changed listings that appear in the Prescott Valley Arizona area. If you look at the image above, you’ll see that for the eight listings that are shown (I could show many more just changed listings, but I don’t want to scroll down, these listings are coming up in random order), of these first eight random real estate listings that are shown, today, all eight are showing price reductions! Read more
Real Estate Market Downturn
1st signs of the Real Estate Market Downturn (Note published June 2021)
Real Estate Market Downturn
I’ve been in residential real estate for over three decades and I can tell you that major real estate market turns do not happen on a dime! If you study the residential real estate market, there are subtle signs of major market turns. Precisely because these are at first relatively minor moves, they are usually discounted or overlooked by the press and most real estate professionals. One should keep in mind that the residential real estate market professionals are not so much professional market timers – actually they probably are no better at market timing than your average dog groomer – but are just very good salespeople! Yes, the residential real estate market professionals are professional salespeople and nothing more. Read more
Real Estate Warning
Real Estate Warning
If the stimulus stops and the interest rates adjust for inflation, the stock market and the real estate market will both get hit hard for sure. We are deep into a stimulus driven economy.
it’s sooooo bad for the economy overall, and its not fair to young people starting out that have saved for a down payment. I understand they don’t want another housing bust, because housing feeds many industries – it feeds the trades-plumbers electricians etc, home improvement stores, building supply manufactures, etc. However, it seems that people have sprang right into travelling and spending money like before the Pandemic, so personally I feel they need to raise interest rates at least some, to reel in the consumer, and add some inventory to the housing market to slow down the price accelerations. A modern day epidemic of this magnitude has never been experienced – so economists just don’t know how to handle the fall-out.
2021 Housing Bubble
2021 Housing Bubble
Great to hear Schiff’s perspective on how inflation is the driving force behind the RE bubble. Gives me some reassurance on buying a primary residence in this market, since the inventory crunch isn’t getting solved any time soon. A hard asset is way better than holding fiat currency, especially as inflation worsens.
Love how you’re already up $30K on your lumber stockpile! Raw materials are going through the roof. Copper is another one that is seeing all time highs. 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.