The Federal Reserve has bought $982 billion of the mortgage bonds since March 5, 2020. As Federal Reserve officials discuss how to eventually scale back their easy-money policies, they are debating whether to start by reducing purchases of mortgage-backed securities...
A few months ago, Zillow agreed to buy ShowingTime, the largest and most widely used platform by realtors to schedule residential tourings and provide feedback to the listing agents. The platforms is integrated with most multiple listing services throughout the...
Inflation alert: It is usually not a good sign when Fed Vice Chairman Richard Clarida said after the consumer price index report “I was surprised”. I am not sure what rock people are living under, but everything has increased in price from gasoline to restaurant...
There is a tidal wave of distressed homeowners who will need help,” Dave Uejio, the CFPB’s acting director, said in a statement; companies “that are unable to adequately manage loss mitigation can expect the bureau to take enforcement or supervisory action.” At the...
For the first time in a year, since Covid-19 began spreading across the United States forcing Americans to stay home, retail alcohol sales have fallen almost 2%. Why the change in alcohol sales? No, people are not consuming less alcohol. What does this mean...
Over 50% of workers are 100% remote with another 20% sometimes working remotely due to the pandemic. Will this trend reverse this year with the rollout of the vaccine? How will this impact real estate in the short term and long term? What will be the primary driver...
The Coronavirus has impacted businesses throughout the economy and real estate is not immune from the radical changes caused by social distancing and lockdowns. How will the real estate industry adapt to the changes? What does this mean for the future of real...
I was amazed that there hasn’t been much fanfare about Costar’s recent purchase. Costar is the largest commercial property data company (Loopnet, Costar, Apartment.com, etc…) with a market cap of 35 billion dollars. The Homesnap purchase is an indicator of things...
What a year 2020 has been! The pandemic struck, unemployment has hit records, there was a nice rebound in the summer, and recently a downward trend due to the spike in Coronavirus cases. What does 2021 hold for the economy, interest rates, and residential and...
We are seeing interesting economic times; throughout the economy there is huge consolidation within industries as the big get even bigger. Real estate is following a similar trajectory to big technology companies. What is causing the huge changes in real estate? ...
There is a new legislative proposal to radically alter the appraisal industry. Should the use of comparables be arbitrary when establishing appraised value? Do appraisers need to better “appreciate” a neighborhood (what does this even mean?) Should an appraiser use...
FHA has placed a moratorium on foreclosures from mortgage loan defaults and offered any borrower that requests it an extension to not make payments for a year (HUD). This effectively kicks the can down the road and pushed out any impending actions until March of...
If you have been tracking interest rates in the mortgage market, your head is likely spinning. Mortgage rates hit a record low of 3% less than a week later rates have risen again. What is causing the drastic swings? Is now the time to lock in or refinance? What did...
The mortgage market is an interesting animal. Long term mortgage rates traditionally track the 10 year treasury and historically trade in a very narrow band, approximately one percent higher than the 10 year treasuries. This would put mortgages today in the low 2%...
When the shutdowns from the pandemic rippled through the economy, I saw statistics that up to a third of all mortgages could end in default. At the same time, home sales of previously owned homes just dropped to a 10 year low. What is going on in the housing...
Do you know where the next mortgage defaults will occur in your city? What cities and zip codes are most at risk during this recession? In every recession, there are two predictors of default/loss, collateral and equity. What does the data tell us today?...
From March 1 through the end of May, Americans deferred debt payments on more than 100 million accounts, according to credit-reporting firm TransUnion, a sign of widespread financial distress. Millions are out of work, yet house prices are increasing in most...
Happy summer to everyone, hopefully you are taking some time to get outside with your friends and family to de stress . Last week, I wrote about the general economy not following a V shaped economic pattern, which I still believe, but housing seems to be marching to...
We are still funding in cash. Before the Pandemic, the United States economy was on track with the longest running bull market, record low inflation wages increasing, record low unemployment, and historically low mortgage rates. Even with all this good news, there...
NY city is changing the real estate game implementing a ban on the NYC rental broker fee and making a host of other changes. At the same time New York leads all U.S. metro areas as the largest net loser with 277 people moving every day. What are the new laws? How...
The picture above is a bit more relaxing to look at as opposed to the media barrage of the coronavirus and stock market (do you know where I took the pic, hint in CO, email me if you know). The Coronavirus has caused stock markets around the world to quickly sell off...
We are at an interesting crossroads in the economy. The Federal Reserve and economic data show that the economy is very strong with consumer spending and confidence at all-time highs. At the same time the bond market is portraying a different picture after a new...
It is ski time in the Rocky Mountains with over 250 inches in many of the resort communities. Do you know where the picture was taken (hint it is a "Costco" resort, email me if you know)? Although there is plenty of snow and cold weather, mountain...
If you missed the article in the Wall Street Journal, you need to read it. The reporter demonstrated how he went dumpster diving and resold the items on Amazon. This is not a new concept and appears to be happening quite frequently to unsuspecting buyers. ...
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