https://www.youtube.com/watch?v=Jj4nJ1YEAp4 Several years ago, I was playing craps in Las Vegas when the shooter went on a long, long run. After about 40 minutes without rolling a seven, I had about $750 I took off the table in front of me, and I had about $500 still sitting on the table from the numerous times I pressed my bets or let it all ride. In the middle of the pandemonium at the table, I had a funny feeling. Despite the euphoria around me, I felt it was time to leave. Before I could think more about it, I found the words coming out of my mouth, "Please, take down all my bets." Some of the people at the table ridiculed…[READ MORE]

California's wall is a barrier of high home prices caused by a lack of supply created by nimby resistance in areas dominated by California Progressives. President Donald Trump's policies, like Donald Trump himself, enjoys very little support among California voters. When Trump campaigned in California during the primaries, it caused riots. During the general election, Trump lost California by nearly 4 million votes. California Progressives resist and detest everything Donald Trump proposes and stands for, particularly his immigration policies, which include proposals to deport undocumented workers illegal immigrants¬†and build a wall to keep out future undocumented workers illegal immigrants. Surprisingly, California Progressives and Donald Trump both embrace exclusionary policies that prevent people from taking up residence in California. Whereas Trump's…[READ MORE]

Since the mid 1990s, mortgage interest rates and home sales moved in opposite directions. Dodd-Frank made this inverse correlation even stronger. Back in February of 2013 when mortgage rates were near record lows, I wrote that future housing markets would be very interest-rate sensitive, despite assurances to the contrary from most macroeconomists. Last year I noted that fewer home sales or lower prices was sure to follow higher mortgage interest rates. Generally, volume precedes price, and as one would expect, the recent spike in mortgage rates is already hurting sales. The prevailing economic view is that the housing market would respond positively regardless of what happens with mortgage rates because house prices in the past have correlated poorly with mortgage…[READ MORE]

Never Miss A Post


Past Housing News

Search