Vacant New Condo Tower in San Francisco: Tentacles of China’s Collapsing Property Developers Reach Deep into US Cities by Wolf Richter • Jul 25, 2022 • 174 Comments As the condo market is going south on you, you can always try to sell the tower to an investor to convert to rental apartments. But that’s tough too.
Housing Bubble Woes: Sales of Homes Below $500K Plunge, Total Sales Drop to Lowest since Lockdown, Supply Jumps by Wolf Richter • Jul 20, 2022 • 204 Comments The magic of ridiculously inflated home prices meeting holy-moly mortgage rates.
San Francisco Bay Area, Southern California Home Sales Crater, Prices Begin to Drop. California Pending Sales Collapse 40% by Wolf Richter • Jul 19, 2022 • 198 Comments The first year-over-year price declines crop up as the crazy California housing market “normalizes” amid holy-moly mortgage rates.
Housing Bubble Getting Ready to Pop: Traffic of Prospective Buyers of New Houses Plunges, Homebuilders Cut Prices, Sentiment Dives by Wolf Richter • Jul 18, 2022 • 266 Comments Homebuilder stocks have been wobbling lower all year, now down between 24% and 40%.
Cash-Out Refis with Holy-Moly Mortgage Rates for Remodeling Projects? Professional Home Remodelers Face New Challenges by Wolf Richter • Jul 11, 2022 • 119 Comments Amid shortages, exploding prices, and long lead times, there are now the new realities of a turning housing market.
Housing Bubble Getting Ready to Pop: Pending Sales Plunge in June, Inventory Jumps, Price Reductions Spike amid Holy-Moly Mortgage Rates by Wolf Richter • Jul 1, 2022 • 438 Comments Pent-up supply suddenly shows up – those vacant homes that no one was counting as vacant.
The Most Splendid Housing Bubbles in America, June Update: “Deceleration” and “Tipping Point” of the Raging Mania by Wolf Richter • Jun 28, 2022 • 237 Comments But it still predates the 5% & 6% holy-moly mortgage rates, whose impact on prices we’ll only see in a few months.
Housing Bubble Woes: Supply Jumps, Sales Drop, Median Price Skewed Higher by Shift in Mix as Bottom Falls Out below $500k, amid Holy-Moly Mortgage Rates by Wolf Richter • Jun 21, 2022 • 253 Comments California special: Pending sales collapse by 30%, prices begin to “moderate,” San Francisco condo prices decline year-over-year.
Stock Market Swoon Pulls Rug Out from under Luxury Home Sales by Wolf Richter • Jun 20, 2022 • 106 Comments The June sell-off did a job on them.
“Real Estate Tech” in Existential Crisis as Housing Sours, Stocks Plunge, New Money Out of Reach: Redfin & Compass Try to Survive by Cutting Staff. Opendoor, Zillow Sag by Wolf Richter • Jun 14, 2022 • 195 Comments In short, the party ran out of bamboozle.
