From NY to LA cities have been clamoring as expenditures have continued to outpace revenue. The easy fix is now the “mansion tax” to force the wealthy to pay more without impacting “ordinary” taxpayers. Sounds like a great solution until the real data comes in. ...
The consensus among major economists is that there will be a slight reset in house prices primarily due to higher interest rates. We are already seeing this with the median home price (chart above). Even with rates staying high, are the economists wrong and will we...
IRS data show that taxpayers keep fleeing high tax states; should you follow the wealthy residents with your real estate investing? Is the sudden shift in residents to lower cost states a blip or a new trend? Take a look at the two charts below, what is the...
At the beginning of the year, the consensus was that rates would fall below 6%, fast forward and rates are now at or close to 7% with the 10 year treasury surging to a 19 year high. At the same time the real estate market is like two stuck bulls with neither buyers...
What a week it has been in the economy. The federal reserve is still struggling to contain inflation and as a result increased the federal funds rate. After the announcement stocks roared back in a huge “relief” rally and mortgage rates fell. What do all these...
Look at this chart above, over the last 5 years long term rates have continued a steady climb higher; now compare the chart above to the one below, see a correlation. When rates surged, the treasury tried to step in and a profound event happened that radically...
We have all used Kelly blue book values to see car values, now KBB is getting into the house business creating a “blue book” value for your house. How accurate is the new KBB value? How is this different than the Zestimate; realtor.com estimate, or any other...
I think most real estate pros would agree that the recent run up in prices in many areas throughout the country is concerning. Are there leading indicators of what could be to come? Take a look at charts of two high end ski towns Aspen and Telluride, CO from...
The real estate market has rapidly changed. The number of owners who are underwater is small but growing, and they have recently been concentrated in pandemic boomtowns such as Austin, Texas, Cape Coral, Fla and Denver, CO. A rapid rise in prices in these...
In a controversial ruling the Supreme court made a groundbreaking ruling on property rights that has implications for property owners throughout the country. The ruling regarded tax liens and answers the question of whether a city can “seize” a property for unpaid...
As I was hiking with my family almost at treeline in Colorado, one of my dogs suddenly went on point. To our surprise there was a brown bear sauntering through the field (sorry looks like a brown sheep as we are a good distance away on a ridge). In 30 years we...
With rising insurance costs and litigation HOAs across the country are coming under pressure financially. This is leading to more HOAs declaring bankruptcy. Why is a recent lawsuit against an HOA so important? What does this mean for property owners? What are the...
Look at the picture above, in 2018 these buildings sold for 40 million, in 2026 they just sold for 8 million a stunning 78% loss in value. This will lead to an enormous loss in tax revenue for Aurora, CO. The same is happening throughout almost every major metro area...
I recently looked at two loan files, one had a 650 and one had a 750, which one was actually a riskier borrower (not the one with the higher score)? How can you now easily inflate your credit score? Is the score now useless? Why the huge changes in credit...
Many don’t know but the overwhelming majority of all loans originated are ultimately sold to governments sponsored entities like Fannie or Freddie that package the loans and sell as mortgage backed securities. This means that whatever Fannie and Freddie...
It seems like all the economists are surprised that inflation continues at elevated levels and suddenly the market is in a panic about higher inflation. Am I the only one in the world that buys groceries, fills up my gas tank, goes out to eat, etc… Anyone...
During the Covid real estate boom everything with 4 walls took off in price. Are these price gains sustainable? Will real estate fall back to Covid values, wiping out huge gains in real estate prices? Have prices already adjusted to pre covid levels in some...
The May inflation report is in, rising to the highest level in 3 years. Look at the chart above, out of nowhere yields have surged to almost 20-year highs and predictions exceeding 6%. The market is suddenly catching on that we have an inflation...
When I saw the headlines about NY reducing property insurance rates I was definitely intrigued. How can NY reduce property insurance rates 30% overnight while the rest of the country is facing double digit increases year over year? What is New York's secret?...
Rents have made a quick U turn. After rising substantially over the last decade, they are quickly reversing course. Why are rents now falling? Is this just a trend or a blip. Look at the chart below, how does this alter the predictions on rents? ...
Look at this chart above, out of nowhere yields have made a U-turn with long term treasury yields surge to almost 20-year highs and predictions exceeding 6%. This is exactly the opposite of what economists had predicted at the beginning of the...
Recently Realtor.com and Zillow have been promoting “risk scores” for properties to reflect environmental risk from fires and floods. These new scores are radically altering real estate prices. What is included in the new scores? Are you impacted? How accurate...
The housing market has a multi-billion dollar problem that nobody is talking about. Since the last recession economists harp on the fact that underwriting is so much better now than it was leading up to 2008. This is correct except for one lender, the federal...
Over the last 30+ years it has historically been more expensive to live inside a city versus the suburbs. The demand for urban living was huge over the last 20 years. This narrative is now changing with the suburbs in many major cities poised to overtake urban...
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