Prices Are Just Falling, Falling And Falling
A report from Mansion Global on Canada. “Vancouver’s luxury markets may further cool in 2018 if the city’s proposed measures to quell its housing affordability crisis take effect. Among the measures in the new strategy are: Increasing the tax rate on luxury homes. Imposing a speculation and flipping tax. Closing capital gains tax loopholes. Restricting foreign buyers and investors. To Anne McMullin, president of Urban Development Institute, blaming foreign buyers for Vancouver’s housing crisis ‘is not productive,’ as they account for less than 5% of total residential real estate purchases in British Columbia. ‘Telling them they are banned from buying a home and can only rent in a city that has had a chronic less-than-1% vacancy rate for some years seems discriminatory,’ she added.”
“In terms of luxury properties, during the first seven months of 2017, sales of C$1 million-plus (US$780,000-plus) homes declined 22.5% in Vancouver year-over-year, according to a RE/MAX report in September. For homes over C$3 million (US$2.33 million), the number of sales from January to July dropped 40% compared to the same period last year, the firm’s latest data show.”
From Reuters on Sweden. “Swedish home prices fell for the third month in a row in November, the Nasdaq OMX Valueguard-KTH Housing Index index showed. Worries about sky-high prices, a barrage of media reports about the risk of a crash and a realization that ultra-low borrowing costs will not last for ever have spooked buyers in recent months. A glut of new-built apartments - particularly in the major cities - has also helped to push down prices and draw a line under a culture where it was not uncommon for buyers to purchase apartments without even having seen them in person.”
“‘In the past, people … took a longer time buying a pair of shoes than a home,’ Hans Flink Head of Sales at Svensk Maklarstatistik, an association of Swedish real estate agents, said.”
“Worried that prices would fall further before his family could sell their apartment in town, Carl Arnesson, a 37 year-old economist, recently backed out from buying a house in the up-market Stockholm suburb of Bromma. Prices are just ‘falling, falling and falling,’ he said. ‘Our main worry was - what will we get for our present home?’”
From Bloomberg on Sweden. “Stockholm’s property market is falling. Home prices in the capital have already slumped about 9 percent over the past three months, but probably have further to drop, according to the state-owned mortgage bank, SBAB. ‘The aggregated price data for Sweden as a whole may not look so dramatic, but there are things happening in central Stockholm and in cities such as Uppsala and Orebro where there is an extra large supply of newly built apartments,’ SBAB Chief Executive Officer Klas Danielsson said. ‘Prices in Stockholm city are now down about 10-15 percent, and may well drop another 10 to 15 percent.’”
From the Independent on the UK. “UK homeowners desperate to sell their property in a slowing market have slashed their offer price by an average of £25,562, according to property website Zoopla. An analysis of house price data across its website for November reveals that 35 per cent of properties on the market had been marked down, with average prices in London being cut by more than £50,000. Kensington and Chelsea was the most discounted borough in value terms, with prices knocked down by £129,559 on average – representing 7.9 per cent of the total property price.”
From News.com.au in Australia. “Sydney tenants can look forward to a discounted lease on life with rents tumbling across the city’s east, west and north and remaining static everywhere else. For the first time since the Global Financial Crisis of a decade ago, increased supply and changing regulation have given tenants the advantage in what was a tight and highly competitive market. Economists expect the falls to continue as the stream of newly built homes that have been sold to investors off the plan hit the market next year, giving tenants a greater choice of homes.”
“Falls in advertised rents were most pronounced in Harbourside suburb Darling Point, where the median rental price fell 22.7 per cent over the past year, the research showed. The median weekly rent in the suburb had been $2200 at this time last year but has since dropped $500 to $1700. Landlords have also been slashing rents by about 21 per cent in Penrith enclave Llandilo, as well as in Box Hill further north.”
“SQM Research director Louis Christopher said landlords were under increased pressure to offer more attractive rents because the risk of their homes becoming vacant had risen following rampant levels of investor buying over the past four years. ‘It’s a good time to be a tenant right now,’ he said. ‘It’s likely there will be further adjustments in prices in certain pockets, especially where there has been a high concentration of new home building like in the Hills (District),’ he added.”
The West Australian. “Civil and mining contractor Brierty counted on sales of Darwin residential lots to keep trading before a property market slump helped trigger its financial collapse, according to administrators. Brierty owed land development subsidiary Bellamack about $14 million when it went under in September, according to a report by its directors. The drying up of lot sales at the Bellamack development was among reasons cited for the contractor no longer being able to meet its financial obligations.”
“In discussing the outcome for the insolvency process, Administrator Matthew Woods of KPMG said, under a liquidation scenario, it was unlikely there would be a payment for unsecured creditors, with the potential exception of any litigation proceedings. Directors have reported the Dalton Gooding-chaired Brierty owed unsecured creditors about $27 million. Former employees were owed about $7 million in unpaid entitlements.”
‘To Anne McMullin, president of Urban Development Institute, blaming foreign buyers for Vancouver’s housing crisis ‘is not productive,’ as they account for less than 5% of total residential real estate purchases in British Columbia. ‘Telling them they are banned from buying a home and can only rent in a city that has had a chronic less-than-1% vacancy rate for some years seems discriminatory’
Why would a foreigner rent a shack? They can stay at a hotel. Of course, why would they buy one is even more absurd.
‘In terms of luxury properties, during the first seven months of 2017, sales of C$1 million-plus (US$780,000-plus) homes declined 22.5% in Vancouver year-over-year, according to a RE/MAX report in September. For homes over C$3 million (US$2.33 million), the number of sales from January to July dropped 40% compared to the same period last year’
Seems more than 5% Anne. A few years back, it was “we don’t have the data and collecting it is racist!” Then the REIC came up with a 1 or 2% number. Then a tiny restriction was put on in Vancouver and crater.
They are banned Anne, they just need to pay more tax.
Good insight as usual ben
Why would a foreigner rent a shack? They can stay at a hotel. Of course, why would they buy one is even more absurd.
Well, we know the answer to that: speculation. In a world where Mr. Banker pays you 1% interest, where .gov doesn’t pay much more on bonds,it become obvious why they bought shacks in bubble towns around the world.
You forgot money laundering. Without that housing prices would be 2/3 or less of current costs in places like Miami and Vancouver.
That’s better characterized as mortgage fraud. I’m not sure how that relates to money laundering.
Parker, CO Housing Prices Crater 8% YOY
https://www.movoto.com/parker-co/market-trends/
Sacramento, CA Foothills prices are solid
https://www.movoto.com/rocklin-ca/market-trends/
DebtDonkey
Washington, DC 20017 Housing Prices Crater 13% YOY
https://www.zillow.com/washington-dc-20017/home-values/
‘In the past, people … took a longer time buying a pair of shoes than a home,’ Hans Flink Head of Sales at Svensk Maklarstatistik, an association of Swedish real estate agents, said’
Gosh Hans, I hope they didn’t pay too much in such an environment.
‘A glut of new-built apartments - particularly in the major cities - has also helped to push down prices…in central Stockholm and in cities such as Uppsala and Orebro where there is an extra large supply of newly built apartments…increased supply and changing regulation have given tenants the advantage in what was a tight and highly competitive market…the stream of newly built homes that have been sold to investors off the plan hit the market next year…landlords were under increased pressure to offer more attractive rents because the risk of their homes becoming vacant had risen following rampant levels of investor buying over the past four years’
But, shortage? We need to build more so prices fall? Now these speculators are all fooked. What was wrong with the “build more to bring down prices” strategy?
It has been my understanding that in socialist utopias like Sweden that most rental property is owned by the government. I recall reading that would be renters would have to go on a waiting list to get one, and that the waits could be long. Anyway, it appears that this has changed.
I wonder how you say granite countertops in Swedish?
Say what you will about Sweden, but they do a great job of fostering a climate for business start-ups:
STOCKHOLM—This is a high-tax, high-spend country, where employees receive generous social benefits and ample amounts of vacation time. Economic orthodoxy would suggest the dynamics of a welfare state like Sweden would be detrimental to entrepreneurship: Studies have found that the more a country’s government spends per capita, the smaller the number of start-ups it tends to have per worker—the idea being that high income taxes reduce entrepreneurs’ expected gains and thus their incentive to launch new companies.
And yet Sweden excels in promoting the formation of ambitious new businesses, on a level that’s unexpected for a country whose population of roughly 10 million puts it at 89th in the world in population size. Global companies like Spotify, the music-streaming service; Klarna, the online-payment firm; and King, the gaming company, were all founded here. Stockholm produces the second-highest number of billion-dollar tech companies per capita, after Silicon Valley, and in Sweden overall, there are 20 start-ups—here defined as companies of any size that have been around for at most three years—per 1,000 employees, compared to just five in the United States, according to data from the Organization for Economic Cooperation and Development (OECD).
https://www.theatlantic.com/business/archive/2017/09/sweden-startups/541413/
Fascinating!
As asset bubbles (stocks, Bitcoin, art, etc) sit on the cusp of “out of control,” CBs are being nudged to raise rates, as the Fed is currently doing. But as the BIS points out (pg 52, graph of zombie firms), 10% of firms are in a situation where “interest expenses exceed earnings before interest and taxes [...] despite unusually low levels of interest rates” (p. 51).
So here we are, needing to raise rates to manage the ever more unwieldy bubbles, while doing so threatens the mass of zombie firms who already can’t service their debt.
Oh boy…
I wonder how many more firms are approaching zombie status, and what the average profile is for such firms: public, private, large, medium, small, mom-n-pop?
Of course the real elephant in the room is all sovereign debt out there.
interest expenses exceed earnings before interest and taxes
I bet these are the same yahoos who tell people that they need to keep 6 months of cash on hand. They should clean their own house first.
Not to mention the millions of home-debtors borrowing just to make next months payment.
Another data point:
+++++
Zombie Corporations: 10% of Companies Depend on Cheap Fed Money
Mike Mish Shedlock - 12/16/2017
Ten percent of corporations survive only because central banks have kept real interest rates negative.
The BIS defines Zombie firms as those with a ratio of earnings before interest and taxes to interest expenses below one, with the firm aged 10 years or more.
In simple terms, Zombies are those firms that could not survive without a flow of cheap financing.
According to the BIS Quarterly Report one out of ten corporations in emerging and advanced countries is a “Zombie”.
If 10% of corporations went under, that just might cause a recession.
I’m guessing most of those 10% are retail companies?
If I had to guess:
Amazon
Google
Telsa
Uber
Sanpchat
General Motors
GE
Most banks
Not sure I’d put Google on that list…they have ~$90B of cash/short term investments, and $4B of long-term debt.
Their cash pile grows every quarter…they reinvest some of the cash they generate into their business…$9B of capital expenditures last quarter…they don’t rely on debt markets for their business.
Add Facebook and Apple to that list of corpse like companies.
This is an EXCELLENT economic video.
You may not agree 100% with the conclusion - but well worth your time.
A very big picture of the world, economies and, indirectly, the housing bubble
++++
Grant Williams
A World of Pure Imagination
https://stansberrystreaming.com/presentations/grant-williams.html
You may not agree 100% with the conclusion
2b, you know that many times i agree with you. but i have to warn you that this is just another burn the rich video.
porter stansberry is a charlatan. please research a little of his history. i would trust anyone that he promotes.
grant williams sounds like piers morgan. and thinks like him too. he thinks there’s a conspiracy against the ‘poor’. the first thing i’d ask is why the poor need to be conspired against? what do they have that the rich want?
i didn’t watch the whole video as i saw enough of it to know it’s malarkey. anything stansberry touches can’t be trusted.
i wouldn’t trust anyone he promotes.
Lucky aussies. I wish my housing costs would drop 20%.
Oxnard, CA Housing Prices Crater 6% YOY
https://www.movoto.com/oxnard-ca/market-trends/
With all the fires in that area maybe Oxnard will get gentrified - kicking all the illegals out. Not putting money on it, but you never know.
I predict many who lost their homes in the Ventura/SB fire will take a check from the insurance company and move to another state. Taxes and quality of life issues will compel more than a few to hit eject on that insane asylum of a state.
“Taxes and quality of life issues will compel more than a few to hit eject on that insane asylum of a state.”
No comment on what you wrote, but I did want to say that I very much like how you write.
You know how to put interesting sentences together. Imaginative, animated, even acerbic at times. Thanks for that.
Mahalo nui loa
Feeling is mutual - appreciate the thoughtful and righteous indignation of you and many others on this board. We are certainly enjoying the curse of living in interesting times, n’est pas?
ZIRP, HARP, QE1, QE2, QE3, Operation Twist, negative interest rates, massive obama deficits, bank bailouts, not one banker in jail, too big to fail…
Pay no attention to those folks behind the RVs.
Yes we can.
++++++
Bay Area cities face growing crisis as RVs become homes of last resort Louis Hansen | December 17, 2017 | Bay Area News Group
Robert Ramirez lives in an old RV, parked curbside in an industrial section of San Jose.
He knows one day soon he’ll get that knock on his door. Police will politely ask him to relocate. Neither party will be happy, Ramirez said, but he’ll agree to move along.
It’s happened before, and he expects it will happen again — no matter how hard he tries to be a good neighbor and keep his vehicle and sidewalk clean. The 54-year-old lives on public assistance and collecting recyclables. “I have to do whatever I have to do,” he said.
Bay Area cities are coming to realize what Ramirez already knows — parking tickets won’t solve the problem of finding a place to live. From Oakland to San Jose, officials are struggling to cope with a growing influx of RV dwellers seeking a safe, permanent place for the only homes they can afford.
In Mountain View, officials say the increase in residents living in RVs and vehicles has led to a corresponding jump in complaints to the city. Neighbors report RVs parked near homes, and litter and garbage around trailers. In the last fiscal year, Mountain View police received 1,250 complaints about RVs and inhabited vehicles, a city spokeswoman said.
The RV communities have popped up everywhere, she said, from abandoned department store parking lots in Oakland to the streets around high-tech campuses in Silicon Valley.
Most RV residents work, including some with high-paying tech jobs who have chosen to downsize, she said. Others are working poor, priced out of Bay Area apartments. Many can’t afford the rent at RV or mobile home parks, which often have long waiting lists for a space.
“People who live in RVs don’t consider themselves homeless,” Garcia said. “Rent is too expensive. They look at living in an RV as a viable option.”
“The 54-year-old lives on public assistance…”
How much money are talking about here? …San Jose, CA.
One the one hand, this is extremely resourceful. On the other hand, it is so disheartening that this “alternative housing” is what so many are being forced to turn to because of the rising house and rent prices.
But I do see “alternative housing” nomads/gypsies as catalysts in hastening the popping of the bubble. RV housing is one way to side-step the escalating prices. It’s not glamorous, but it reduces housing demand.
How can demand be any lower given organic housing demand is at 1997 levels and falling.
RV housing is one way to side-step the escalating prices. It’s not glamorous, but it reduces housing demand.
if the standard of living continues to fall, rv ‘housing’ will also become unviable.
Yes, one could look at the classes amongst the homeless - those that own a RV could be considered part of the upper class, LOL!
i didn’t say ‘unavailable’, i said ‘unviable’.
I’ve tried to warn the Tiny House fanatics — starry eyed hipsters young and old — that this is what’s going to happen to any tiny home communities that they build. (There have been some feel-good ribbon -cuttings in Destroit). You are not going to have a community of well-paid artists and Millenial tree-huggers living below their means. Nope, the tiny house will be traded down and down and eventually be trashed by the poor.
OK - math time.
Purchased a house for $18.0 million in August, 2017
Put on the market for an asking price for $18.9 million FOUR months later. It sold - but the selling price is not yet public info.
Since the house was “ripped down to studs” at the time of sal - I will guess it sold for $17 million (maximum).
Add in about $1.5 million for fees, insurance and taxes.
Cost of renovations so far? A guess of $0.5 million
So a total lost (at least) of $2 million over 4 MONTHS.
Depp and Cage would be proud of that!
++++++++
Maroon 5’s Adam Levine Selling Two Los Angeles Mansions
‘The Voice’ host is now selling $35 million in Los Angeles real estate, including one property he bought in August
Beckie Strum - November 28, 2017 - Mansion Global
Maroon 5 leading man Adam Levine is making moves, putting two multimillion dollar Los Angeles homes up for sale within 24 hours.
On Monday, Mr. Levine, 38, and his wife, Namibian model Behati Prinsloo, 28, put a Holmby Hills home he bought just four months ago back on the market for $18.9 million. And Tuesday, the singer listed a Beverly Hills mansion he has owned since 2012 for $15.9 million.
The couple purchased the gated estate in Holmby Hills in August for $18 million through a private trust, according to property records. They ripped the Caspar Ehmcke-designed home down to the studs in preparation for major renovations, but changed their minds about the project since Ms. Prinsloo is pregnant with the couple’s second baby, said listing agent Kurt Rappaport of Westside Estate Agency.
With a second little girl on the way, the pop star decided he “doesn’t have the time for a renovation,” Mr. Rappaport said.
So… when does everyone predict the housing bubble will burst? 2018? 2019?
https://www.youtube.com/watch?v=7lWzTvdtEx0
If you’re talking about Manhattan or Miami Beach, 2015.
And all of western Australia.
So in 2012, 4 years after the Great Recession, US home prices ALL across the country were super cheap.
Now, 2018, you’re saying it burst 3 years ago in 2015 in Manhattan.. Why hasn’t the rest of the country followed?
As far as these “cratering” prices, is it really significant if the surrounding areas are all rising YOY?
I’d really like to understand this more.
Thank you.
I don’t know why so many expect a mirror image replay. That would be pretty unlikely. What we do know is we’ve seen what some call an echo bubble. (IMO it’s the same bubble because the underlying psychology never went away). It happened with US stocks in 1929 to 1932. Most of these markets like Sweden will mention a downturn in the same time frame as what we’re told was a bubble pop in the US, caused by the US “liquidity crisis” or whatever, but not that Sweden, Canada, Australia or New Zealand etc. had a bubble as well.
Things are all over the place. The most expensive residential real estate a few years ago was Lagos, Nigeria. The commodity bust cratered it. Some places had Chinese crawling all over them and the capital controls started January 1st 2017 (announced December 31st 2016, BTW) hit. But what is most obvious: several governments have gotten serious about clamping down. They’ll say it’s to prevent a bubble, but however they see it, it is shutting things down. Read the Swede articles. Regulators are hacking at the loans/raising interest rates, just like Canada, Australia, New Zealand and even the UK. It was mentioned quietly a few months ago that interest rate increases appeared to have been coordinated by the central banks. I think that’s likely.
So you’ve got a messy, complicated picture. A lot of moving parts. I don’t know how it’s going to play out. I will say this in explaining how I see this somewhat differently from most: I know there was a bubble in Austin Texas in 1998. It was my first inkling, when my new landlords mortgage bill came to me (he had lied and said it was his primary shack), I inadvertently opened it and his payment was twice my rent. This even though it was during the dotcom thing and I had never come close to paying as much rent in my life. So the question I asked long ago: if there’s a bubble, when did it start? I suspect this is a multi-decade phenomenon maybe going back to the mid-1980’s, when the GSE’s doubled their market share. Maybe before that, records aren’t available like today. But if this “echo bubble” pops universally, a sign that we’re putting it behind us would be prices below the 2009 (or whatever) bottom. Like 1932-33 for US stocks.
“So in 2012, 4 years after the Great Recession, US home prices ALL across the country were super cheap.”
After selling a place in northeast Palm Beach County in 2005 and renting in the same area for 6+ years, in 2012 I bought the house I now live in.
I didn’t then and don’t now think it was cheap, I just at that point figured TPTB were not going to allow house prices to get cheap.
Having said that my shack sold for double what I paid in 2012 to the previous foreclosed owner in 2007. Present day prices are approaching the 2007 numbers in this hood.
What I believe the house I bought is worth would be 25% less than what I paid, cheap would be 50% less.
I do know neighborhoods in Palm Beach County where the house prices got cheap in 2011 - 2012 but it’s in the hood.
I wish I knew! It does seem like it won’t be too much longer, maybe a year or so?
Realtors are liars.
… and every closing a crime scene.
Keller, TX Housing Prices Crater 11% YOY
https://www.movoto.com/keller-tx/market-trends/
Is this above board or is there a tax wise catch??
BRANSON, MO (WTXF) - Former Philadelphia Phillies pitcher Cole Hamels and his wife, Heidi, donated their Missouri home to a non-profit organization late last week.
Cole and Heidi gifted their 32,000 square foot home, just outside Branson Missouri, to Camp Barnabas, a non-profit that works with individuals with special needs and chronic illnesses, the Hamels Foundation announced last week.
The home sits on more than 50 acres on Table Rock Lake in the Ozarks.
The home had previously been on the market for $9.75 million and was completed in 2016, according to Realtor.com.
“Seeing the faces, hearing the laughter, reading the stories of the kids they serve; there is truly nothing like it,” Cole said in a statement. “Barnabas makes dreams come true, and we felt called to help them in a big way.”
The Hamels foundation says over the past 24 years, Barnabas has provided life-changing experiences to more than 75,000 campers and missionaries.
http://www.fox29.com/sports/cole-hamels-donates-brand-new-9-million-mansion-to-non-profit
write off?
Yep. And under DJT new tax laws…this may be the last year for these mega donations.
And Bill Clinton’s used $5 underwear donations…
stawks hit all time high as economy goes in the sh@Tter. Lmfao
We had more contruction jobs and manufacturing in 1980.
Now we have a gig economy outside of govt jobs that are propped up by the debt machine.
Debt machine = Debt slave machine.
And by low-wage H1-Bs, not to mention the even lower-wage undocumented community members (the latest redefinition of the word ‘criminal’ as used by the Seattle Police).
Forward!!!
Irvington, NY Housing Prices Crater 20% YOY
https://www.movoto.com/irvington-ny/market-trends/
Dubai Sets Its Sights On Becoming The World’s First Blockchain-Powered Governmen
“According to Smart Dubai, which is conducting government and private organization workshops to identify services that can be best enhanced by blockchain adoption, the strategy could save 25.1 million man hours, or $1.5 billion in savings per year for the emirate. Much of this enhanced productivity will stem from moving to paperless government.
Given the untamperable data record provided by the technology, real estate hasn’t escaped blockchain disruption either. Aiming to radically transform how people, buy, sell and lease real estate, Dubai Land Department (DLD), the government agency tasked with overseeing land purchases and approving real estate trades, in October, launched a blockchain-powered system to help secure financial transactions, electronically record all real estate contracts, and connect homeowners and tenants to property-related billers, such as electrical, water and telecommunications utilities.
“Our aim is to unite all real estate and department services on a single platform,” said Sultan Butti bin Mejren, director general of DLD, in a press statement. “This initiative is still in a stage of infancy. In the near future, we will see many partners joining blockchain to improve their client services, including banking, mortgages, and utilities and maintenance operations.”
One of the things about BlockChain is that it needs to be distributed among independent parties or it’s useless (at least in my opinion). What’s the incentive for me, or anybody else, to maintain and do “work” for Dubai’s BlockChain?
I’m not exactly sure that’s right. It may be true if you want something like a cryptocurrency, but not if you simply want it for record keeping.
Vanguard has implemented the usage of Blockchain for part of it’s back-office, and they noted that the people who used to manage the data will go elsewhere in the organization (the blockchain record keeping eliminated the need for some humans doing the work).
2banana’s Rule:
Long term democrat rule + public unions + free sh*t army = misery, ruin and bankruptcy.
And - insane public union pensions WILL be paid.
+++++
Baltimore Residents Losing Homes Amid Crippling Increases In Water Bills To Pay For Crumbling Infrastructure
ZeroHedge - Dec 18, 2017
With its surging violence and failing public schools, being a Baltimore resident these days doesn’t seem to be that enticing a proposition. Unfortunately, crumbling water infrastructure is only adding to the agony of residents that occupy what increasingly looks like a failed city. As The Baltimore Sun notes today, a new study conducted by economist Roger Colton found that a series of water bill hikes, an effort designed to raise money to repair the city’s crumbling water infrastructure, has left the poorest residents facing bills equal to 20% of their monthly income.
In 8 percent of the city’s census tracts, the poorest fifth of households face water bills costing more than 20 percent of their income, Colton estimated. In a quarter of the tracts, the poorest fifth face bills amounting to between 10 and 20 percent of their income.
By 2019, Colton concluded, water won’t be affordable for households making 150 percent of the federal poverty rate, which is $36,450 for a family of four. A third of city households make that much or less.
“Even though Baltimore is raising its water and sewer rates, it’s also seeing this incredibly high increase in the amount of money that it’s not collecting from its billing,” Colton said.
My water bill is about $25/month for one person. WTF are they charging in Baltimore??!?
Public union pensions WILL BE PAID.
That is all you really need to know.
Yup. See Detroit. They were jacking their water rates by 25% per year to pay for other stuff at the city.
capitulate and buy overpriced stawks and homes!
Senior Home Equity to $6.3 Trillion
Mr. Banker why aren’t you dipping your biscuit in that reverse mortgage gravy?
What makes you think that I am not?
“Prices Are Just Falling, Falling And Falling”
Remember…… Nothing accelerates the economy, creates jobs and raises the standard of living like falling prices to dramatically lower and more affordable levels. Nothing.
Sarasota, FL Housing Prices Crater 18% YOY
https://www.movoto.com/sarasota-fl/market-trends/
sold reits today- even prologis scks and warehousing is the only thing happening
Overpriced in your view?