Current home sales outlook could be bleaker than reported, economist says
“The total number of US households, which represents the demand for homes, is constantly growing. So, an annual pace of 4 million existing-home sales today is, relatively speaking, much weaker than the same number 15 years ago, given the increase in demand.” Fleming pointed out that the total number of households in the US has […]
Utah investors sue over failed $10.3m commercial real estate deal
The lawsuit further claims that initial payments to investors were not from rental income, but instead came directly from their original investments, a red flag that the deal may have operated more like a Ponzi scheme than a genuine real estate venture. Inflated prices Plaintiffs said that the property itself was dramatically overvalued. According to […]
Labor market surges before potential tariff impact
Wages also continued to climb, with average hourly earnings rising 0.3% month-over-month and 3.8% year-over-year. A pre-storm snapshot President Trump’s announcement last week of a 10% minimum tariff on most imported goods has already shaken global markets and prompted retaliation from major trade partners, a report from Reuters noted. Economists worry the fallout will hit […]
Foreign buyers and investors split on tariff reaction
“When the US dollar got really strong and rates went up a bunch, we saw a pretty big slowdown in foreign buyers buying,” Germanides said. “But if rates have come in a little bit and the dollar’s weakened a bit, we’ve seen people come back in the market. Your typical foreign buyers are fairly wealthy, […]
Mortgage rates could tumble in trade war
The future for the mortgage market remains unclear. While rates may be set to continue on a downward trajectory in the weeks and months ahead, a weakening economy could also stir fears of job losses and a jump in unemployment. What’s more, Federal Reserve chair Jerome Powell warned Friday that Trump’s tariff war could stoke […]
Fannie Mae’s secret blacklist prevents Florida condo sales, mortgages
Owners learn they’re blacklisted only after loan denials Fannie Mae, a government-sponsored enterprise that backs roughly 70% of residential loans nationwide along with Freddie Mac, does not disclose the list publicly. Condo owners and associations typically find out only when a mortgage lender rejects a buyer’s application, stalling a sale or refinance. While alternative lending […]
Mortgage CEO arrested after alleged assault on cruise ship
The man allegedly responded with “Shut up, you fucking bitch,” and gave her the middle finger, as shown in surveillance footage cited in the complaint. Moments later, DeGiorgio appears in the video, placing both hands around the man’s neck and choking him. The footage shows the victim stumbling and falling. The man later told investigators […]
A Good Reminder That Lenders Are Always Quick to Raise Mortgage Rates
I keep hearing that lower mortgage rates are the silver lining of a global trade war. That despite the stock market fallout and possibly much higher prices due to tariffs, mortgage rates are at least lower. But how much lower are they really? And at what cost? And is anyone actually biting, other than recent […]
The ‘800-pound gorilla’ now threatening housing affordability in the US
“I was dealing with a client in Naples on a $2 million villa, where the insurance quotes ran from a low of $10,000 to a high of $40,000,” Cohn said. “That’s enough of a difference to make a decision as to whether to buy or not to buy.” Garcia concurred that rising insurance costs are […]
Fed could make emergency rate cut next week as market chaos continues
Analysts suggest a US recession could be on the way this year Trump’s move, which saw the US slap a “baseline” 10% tariff on all countries – and steeper levies on many key trading partners – sent markets into a steep decline and sparked a huge selloff on Wall Street, with the president’s intransigence at […]