![]() I see big reductions in credit, and big reductions in asset prices, coming and continuing for some years (or a Jubilee). This is becoming the late 1970s - ugly consumer price increases - but with a much more massive debt overhang, and an unprecedented asset bubble, behind it. From here on out (after the settlement delay, which will run to late October), MBSs coming to market will have to find real buyers - individuals and institutional investors - who consider quality and price.Īnd, with inflation hitting services big time, the impetus and ability for The Fed to pivot and lower rates is rapidly evaporating. Yesterday was the last purchase of MBSs by The Fed. They charge a bunch of fees and for that one those fees were around $200k so price was actually more like 2.3m. $1m+ profit after 4 years is pretty wild.įwiw Open door records their sales at gross prices. The owner who sold to Open Door was smart and being in the right place, at the right time, and having the guts to sell. Perhaps it’s semantics but it’s how i view it I’m not seeing that in current price action. In my view a free fall has no bottom and accelerating losses. Prices that were the result of no inventory and more rates simply aren’t there anymore. Maybe it’s my perspective but i view what happened as a gap down back to where things should’ve been sans the ridiculous Spring we had. But I’ve said over and over we are down 10-15%. House was bought by Open Door who over paid for a dated property with substandard yard and neighborhood feeder street. Assuming he gets his price that’s at least a 16% decrease in 3 months.Īround the corner, i drive by that daily. Several reductions and still not pending at 2,099,000. Pbranding wrote:Here’s an example of freefall. Fingers crossed unemployment numbers stay strong. I asked the question here in the winter months what this might look like. ![]() My eyes are now squarely on the jobs market to see how much pain us wage earners might feel as a consequence. ![]() And to clarify, I'm definitely not cheering for this. Only then will you see the real magnitude of the declines thus far and beleive themĪlso possible we're at terminal velocity as far as how fast the market can react to negative selling conditions. In a few months when we get our C-S for SEptember those will be sales that went into contract May with most in June-August. Some of those homes went into contract in february. The most recently released Case Shiller data is a 3 month average. It just takes time for the data to catch up. The irony is what you are cheering for has already come. At least that is what my crystal ball says at the moment. Spring should be steady and Id expect prices to hold until next Summer/Fall where we slip a little more. I see continued orderly declines ending this year back where we started 2022. More rate hikes to come… I don’t think the price decreases are done yet. ![]() ![]() It just doesnt feel like free falling to me right now as that implies accelerating drops. There are buyers for good ones priced there. To be eligible, students must enroll and complete a FAFSA, California Dream Act or California College Promise Grant application.Sdrealtor wrote:I feel likes it is kinda leveling off now after taking a quick dip back to pre_Spring prices. Out-of-state students, including international students, are not eligible. Students must live in California and enroll in at least three units – typically one or two classes – by the start of classes Aug. “This is an opportunity for students to enroll in as many classes as they can at no cost.” “We recognize students in our community are making important decisions to provide for themselves and their families amid a pandemic, rising housing costs, and inflation,” said BCC President Dr. This move comes as part of BCC’s new program, “ Fall is Free.” The program is open to many, including new and returning students, high school students who want to take community college classes, recreational learners, and students who do not qualify for financial aid. Berkeley City College will be giving in-state students free tuition and other perks for the fall 2022 semester with the goal of eliminating financial barriers to higher education, Berkeleyside reported. ![]()
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