So when’s the housing bubble bursting?

[Helico-pterFunk]

Small Town Week, Episode 1: Can we build new housing ourselves?

Welcome to Small Town Week, a five-part series in which we examine big problems facing small communities. Access to affordable housing is not just an issue in large cities across Canada anymore—small communities are also struggling to provide affordable places for the people who need them. And...

thebigstorypodcast.ca

 

[havelcok]

 

[havelcok]

 

[DC_Dude]

That's crazy

 

[A to Dah K]

Foreclosures Continue To Surge With More Homeowners Now in Danger of Losing Their Properties

More Americans may lose their homes as the number of property owners receiving foreclosure filings continues to rise.

www.realtor.com

 

[praetor]

They tried to sell it last year for less than that and no one bought it. I'll bet they either drop the price or take it back off of the market.

 

[havelcok]

 

[A to Dah K]

Rent-mania: Want to live in Manhattan? You better think twice.

The median and average rents in New York City are reaching record highs, triggering bidding wars.

finance.yahoo.com

 

[Helico-pterFunk]

How Tech Companies Can Hold Our Homes (and Cars) Hostage

“Nobody is innocent until proven guilty in the court of Amazon.”

www.thedailybeast.com

 

[Helico-pterFunk]

https://www.cbc.ca/news/canada/british-columbia/couchsurf-affordable-housing-1.6910383

 

[Helico-pterFunk]

Canadian population growth to drive home prices higher and faster: Report - BNN Bloomberg

The expected rise in Canada’s population is likely to make the country’s limited housing supply worse – and ultimately lead to even higher home prices, a report by Zoocasa forecasted.

www.bnnbloomberg.ca

 

[Helico-pterFunk]

 

[Helico-pterFunk]

I work in a B.C. food bank. We’re serving triple the number of people we used to. - Macleans.ca

For the first time, many of our clients are people with jobs who can’t keep up with the cost of living. How did we get here?

macleans.ca

 

[havelcok]

 

[darth frosty]

 

[Helico-pterFunk]

New Glut City

The city’s mega-office landlords are panicking, pivoting, and shedding what’s worthless. One opens his books.

www.curbed.com

 

[Helico-pterFunk]

Multiple people arrested for scams targeting Waterloo Region homeowners

Waterloo regional police have made arrests in two separate fraud investigations with losses totalling a combined $1.7 million.

kitchener.ctvnews.ca

 

[DC_Dude]

 

[praetor]

 

[praetor]

"middle class" isn't accurate. The example given in the article was a couple in DC making $270k. Even with a household of 4, that's still not middle class.

"For a household of 4 in the D.C. metro area, your income is too high to be middle class by any of those definitions."

https://www.washingtonpost.com/business/interactive/2023/middle-class-income/

Also, the article itself said:

"I believe the reason we are seeing struggles in the mid-range home is that the traditional move-up buyer is stuck. In my market, that would be the person who sells the $700,000 home to purchase at $1 million. They currently have a PITI housing payment of $2,750; the new payment would be $6,000 rolling their equity as a down payment. That jump is too much for most, especially those with a median income."


Link to the fortune article with no paywall

Middle class homebuyers are taking on $7,000 mortgages with plans to later refinance down

The U.S. housing market firmed up this year. One reason being that buyers jumped in assuming they'll be able to refinance to a lower rate in the near future.

web.archive.org

 

[havelcok]

 

[Helico-pterFunk]

B.C. family must pay $1.4 million to contractor who built their mansion, judge rules

A Richmond couple and their daughter must pay a contractor a combined total of nearly $1.4 million after a B.C. Supreme Court judge ruled against them in a dispute over construction of two Metro Vancouver homes.

bc.ctvnews.ca

 

[Politic Negro]

 

[praetor]

Where were these folks two years ago? Everyone was buying up property in 2021 when rates were low.

The news report also used 2021 numbers which are different from 2023.

 

[Helico-pterFunk]

Vegas housing market booms as celebs like Mark Wahlberg lead exodus

Actors Mark Wahlberg and Dean Cain are among the celebrities who have bought homes in Vegas neighborhoods. And swathes of ordinary Californians are also moving.

www.dailymail.co.uk

 

[Helico-pterFunk]

 

[Helico-pterFunk]

Billionaire’s Lakeside Palace Divides Ultra-Wealthy Town

Phoenix Suns billionaire owner Justin Ishbia is building a mega-mansion in Winnetka, Illinois. Some locals are very unhappy about it.

www.thedailybeast.com

 

[Helico-pterFunk]

Is there a market solution to L.A. homeless housing?

A handful of companies are building homeless and affordable housing using private-sector financing on a scale that rivals developers who rely on tax credits, state bond money and other government subsidies.

www.latimes.com

 

[praetor]

 

[praetor]

 

[praetor]

 

[A to Dah K]

Feds raise interest rates again

 

[Politic Negro]

Really?!?

1222 28th St NW, Washington, DC 20007 | Zillow

1222 28th St NW, Washington DC, is a Townhouse home that contains 1015 sq ft and was built in 1780.It contains 1 bedroom and 2 bathrooms.This home last sold for $1,050,000 in August 2023. The Zestimate for this Townhouse is $1,070,700, which has decreased by $4,274 in the last 30 days.The Rent...

www.zillow.com

 

[fourthstbully]

Really?!?

1222 28th St NW, Washington, DC 20007 | Zillow

1222 28th St NW, Washington DC, is a Townhouse home that contains 1015 sq ft and was built in 1780.It contains 1 bedroom and 2 bathrooms.This home last sold for $1,050,000 in August 2023. The Zestimate for this Townhouse is $1,070,700, which has decreased by $4,274 in the last 30 days.The Rent...

www.zillow.com

nice neighborhood. no hoa.

 

[praetor]

Really?!?

1222 28th St NW, Washington, DC 20007 | Zillow

1222 28th St NW, Washington DC, is a Townhouse home that contains 1015 sq ft and was built in 1780.It contains 1 bedroom and 2 bathrooms.This home last sold for $1,050,000 in August 2023. The Zestimate for this Townhouse is $1,070,700, which has decreased by $4,274 in the last 30 days.The Rent...

www.zillow.com

Looking at the walk score, bike score, and schools on top of being in DC, I'm not surprised about the price/sqft.

It's one of, if not the cheapest houses on the block, so the comps will always be good. Plus if they spend some money on adding a bed/bath, they might double or triple the value of the home.

The only surprising thing is how little (relatively) it appreciated since 2016.