Melody Wright
@m3melody30strategist, writer, technology,GFC 1 survivor. tweets about housing,mortgage finance, commercial real estate,macro and technology. Not investment advise.
Now why would that be? Are they..............motivated? Sure seems like a lot of folks are getting motivated.
I get "For Sale" emails all the time but recently I've been getting flooded. All of these hit in about 5 minutes.
“More than one-third, 33.2%, of landlords offered at least one rent concession in July… The median asking rent prices for apartments in one- to three-bedroom units fell in July, the first time that’s occurred since 2020” H/t: @douglasritz cnbc.com/2024/08/14/her…
Was honored to chat with Sir @cvpayne this afternoon! And, no, gubn’t intervention is not the solution. Build, build they say, but the inventory is there - it’s just mis-priced Prices this round got even more overcooked as gov’t involvement increased foxbusiness.com/video/63604759…
Closed-door meetings with Bank CEOs on Basel Endgame I wonder…..will relief from onerous risk weighting for mortgage assets be on the table? 🤔 bloomberg.com/news/articles/…
M3 July Update using Redfin data Florida YOY sales ⬇️-4.11% MOM sales ⬇️-1.96% YOY price ⬆️2.89% MOM price ⬇️ -2.92% Median Days on Market - 66 (same as last month) Inventory slowing following seasonal peak, but still up 70% YOY per FRED/Realtor FL season starts in Oct
CA M3 July Update using Redfin data YOY Sales ⬆️ 16.90% MOM Sales ⬆️ 10.99% YOY Price ⬆️ 3.83% MOM Price ⬇️ -3.39% Inventory slowing, but up 43.43% YOY - typical peak in Sep/Oct 👀Since 1987 prices on average rise .47% between June and July Motivated selling...(Chinese?)
The bezzle is pervasive Houses are shelter, not casino chips H/T: @JuliusMiami
Victims of Real Estate Scheme Involving HGTV's Christina Hall and Tarek El Moussa Awarded More Than $12M "The lawsuit alleged that false earnings claims were used to lure participants into "spending thousands or tens of thousands of dollars in a relatively short amount of time."…
Happy Sunday xTwitter fam! Join us today for some critical insights into recent data Be there or be 🔳
Going Live at 11am EST! Recession cancelled? 😉😉 Be sure to join the Doom Trio to catch up on this week's important stories as well as a deep dive on China and housing youtube.com/live/udVi3G57Y…
Apologies for this scheduling inconvenience - we will go live at 12pm EST (not 11 EST) Travis ran out of energy drinks 🧨
Happy Sunday xTwitter fam! Join us today for some critical insights into recent data Be there or be 🔳
Going to be a good one...
Mark you calendars for Sat Oct 19th! That's when Thoughtful Money's Fall online conference will take place REGISTER NOW to lock in our lowest Early Bird price discount thoughtfulmoney.com/conference Faculty include Lacy Hunt @spomboy @LynAldenContact @DariusDale42 @michaelpento…
"A California-based real estate professional last month pleaded guilty to mortgage fraud related to FHA loans." They falsified documents to originate "102 home loans for more than $55 million" per Inside Mortgage Finance @VladTheInflator
Black Knight July Dlq Improvement in 30+, but still ⬆️ YOY & 8% from May 🔥will not be found in Seriously Dlq (loss mit) 30+ should be scooped up in simple repay plans 60-120+ should be caught w/ mods & HAF funds Default has a seasonal arc; the cracks will tell the story
Can someone check on Richmond for me as I'm not believing my 👀? Per July Redfin data: Median sale price ⬇️-11.70% MOM Median sale price ⬇️ -5.70% YOY Sales ⬇️ -5.30% MOM Sales ⬆️ 12.60% YOY Very tight days on market: 12 Avg price increase from Jun to Jul since '12: 6.3% 🤔
Heard from a little 🐦 that private notes are being securitized via CLOs and sold off, but not in agency-rated securitization markets. Anyone have intel on this? BTW - here's my latest discussion with the good guys of private notes for background youtube.com/watch?v=ewGxfs…
Glad someone else from the industry is finally saying it... H/T: @JuliusMiami
It should be clear that most, if not all, of the supposed improvement in borrower credit quality between now and 2008 is the result not of actual quality improvements, but of regulatory changes to credit reporting, says @MarkCalabria, former FHFA director. nationalmortgagenews.com/opinion/the-co…
Number go UP inevitably means pain for our most vulnerable And the Forgotten Americans who faithfully worked, dutifully paid their taxes for their working lives (and now beyond).
This is another high-profile example of a private note sale where the seller offered financing We know there was at least $23B that were tracked in MLS But folks in the know say there was quite a bit more How much? Nobody knows. realtor.com/news/celebrity…
Wonder what Case Shiller will look like when this thing sells? 🩹 To be clear, this is CA, not FL Sold April 3, 2018 for $10,000,000 Listed May 13, 2024 for $19,950,000 Re-listed yesterday for $4,500,000 Motivated? or Distressed?
Someone pointed out the price reduction is due to the relisted property not including the beachfront In looking at Zillow they have it creatively listed 3 ways - the whole property & then the two properties separately ⬇️$1M so far - one to watch Motivation inspires creativity
Wonder what Case Shiller will look like when this thing sells? 🩹 To be clear, this is CA, not FL Sold April 3, 2018 for $10,000,000 Listed May 13, 2024 for $19,950,000 Re-listed yesterday for $4,500,000 Motivated? or Distressed?
So perhaps all that dancing got just a wee bit carried away as I recently wrote on my Stack? We will see a refi bump, but for all the wrong reasons And those who need it the most cannot qualify @cvpayne
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