For the Real Estate Drop in sales and price Naysayers HOLD ONTO YOUR HATS

[pronstar]

So you're saying it's time to start buying Meta stock?

Zuck is gonna drive that company into the Metaground, methinks…he holds 90% of all voting shares so there’s little to stop him.
Good riddance.

 

[EmpirE231]

So you're saying it's time to start buying Meta stock?

Buy bitcoin lol

 

[Englewood]

Zuck is gonna drive that company into the Metaground, methinks…he holds 90% of all voting shares so there’s little to stop him.
Good riddance.

I agree. He’s a nerd, not a CEO.

 

[Englewood]

Who was it that said they wouldn't worry about shit until there was mass layoffs ??

In my industry (trucking ) they are laying off/firing everyone. Fucking ugly out there.

Damn. That doesn’t sound good at all.

 

[shintoooo]

C.H. Robinson lays off about 650 employees

Brokerage giant C.H. Robinson will focus its head-count reductions on upper- to mid-level management, sources say.

www.freightwaves.com

 

[hallett21]

We’ve cured inflation…. Down to 7.7%

 

[pronstar]

“We’ve created jobs!*

*part time jobs, we’ve actually lost full time jobs

 

[Done-it-again]

Its the holidays, so it's part time job season... Come Jan, will see..

 

[HTMike]

Its the holidays, so it's part time job season... Come Jan, will see..

No part time jobs this year. All the poors are broke. My wife owns a hair salon and she has people swiping 2-5 cards to pay for a service. Been going on for the last 6 weeks. Canary in the coal mine.

 

[hallett21]

No part time jobs this year. All the poors are broke. My wife owns a hair salon and she has people swiping 2-5 cards to pay for a service. Been going on for the last 6 weeks. Canary in the coal mine.

Assuming a hair due is under $300?

Are we taking g 1-2 people or 10-20+?

 

[LargeOrangeFont]

Assuming a hair due is under $300?

Are we taking g 1-2 people or 10-20+?

All of them. The sky is falling. It’s been falling since 2015.

 

[HTMike]

Assuming a hair due is under $300?

Are we taking g 1-2 people or 10-20+?

She said a few a day. The only reason it came up was because she said its annoying because they make a scene fumbling around for credit cards to break the purchase up onto. Its always been a thing but its becoming more of a thing apparently.

 

[HTMike]

All of them. The sky is falling. It’s been falling since 2015.

Don't group me into that group ! LOL

 

[Cdog]

Big rate drop today. Let’s see if that opens up things a bit.

 

[LargeOrangeFont]

Don't group me into that group ! LOL

Fair enough.

 

[Havasu blue label]

Don't group me into that group ! LOL

Credit cards fake money

 

[OldSchoolBoats]

Big rate drop today. Let’s see if that opens up things a bit.

Biggest MBS and bond rally in over a decade.

 

[Havasu blue label]

Big rate drop today. Let’s see if that opens up things a bit.

What rate

 

[Cdog]

What rate

Interest rates for mortgages

 

[HTMike]

How much did they drop and on what product ?

 

[HNL2LHC]

How much did they drop and on what product ?

Was just talking to a friend and he said the rate he was looking at was dropped 1/2%. Not sure of the type of loan. I am sure someone will chime in as to what it is.

 

[LargeOrangeFont]

Rate drop? Unpossible! Mortgage rates are tied directly to interest rates! I read it right here!

 

[Cdog]

@Wendi

 

[HNL2LHC]

Rate drop? Unpossible! Mortgage rates are tied directly to interest rates! I read it right here!

@LargeOrangeFont I thought that since the Biden’s have been in office the interest rate was tied to a plane on a treadmill and was only going to go up from there. :looking:

 

[Sportin' Wood]

I have been gone for a week for the Fabtech trade show, I need to catch up a few pages, but I thought this data point might be interesting.

The Fabtech show was busier than I expected. Atlanta is traditionally an underperformer when compared to Chicago. Many decision-makers and influencers (purchasing agents and engineers, not social media) I talked to reported a continued demand for automation to replace a lack of qualified labor. Welders are a hot topic of discussion. FWIW the AWS estimates a deficit of 400,000 skilled welders by 2024.

CoBots were in fashion at the show with many displays that de-skill the welding and assembly process. with Collaborative robotics.
We also have this product, and I spent most of my time at one of our CoBot displays talking with customers. Labor is a massive problem. Zoomers (GenZ) do not want to work, expect everything to be provided, and seem to lack any motivation whatsoever.

Job creators have money. Any coming recessionary pressure seems opportunistic, Replace or assist an aging workforce with automation products that have been greatly simplified. The building industry will need to find a pivot to drive down production costs and follow industrial manufacturing.

I had dinner one night with our finance partners, and we talked about how far robotics and automation might quickly replace workers. The technology seems available to de-skill and replace many service industry jobs related to cheap food. (fast food) As inflationary pressure disrupts the target audience for that service, labor savings in the form of fixed costs of automation will be attractive.


The wealth gap will grow, the middle class will dissolve, and the barrier to entry to starting a business will get steep.

This cycle may be the last opportunity to build wealth with real estate. Change is in the air.


I want to add I had the most fantastic lunch in Englewood, Tennessee. If you long for the old ways of excellent service and a meal prepared with love, move to the rural areas of our country, buy a piece of land and grow some peaches. Not all is lost just yet.

 

[DrunkenSailor]

Monday is gonna be interesting margin calls are coming. A 30 basis point Treasury drop is crazy. Especially off of one number.

 

[Cdog]

Monday is gonna be interesting margin calls are coming. A 30 basis point Treasury drop is crazy. Especially off of one number.

Thing is, even at 5% inflation prices double every 9 years. So celebrating a cooked 7 is overboard.

I bet it gets painful to shed below 6 from here forward.

 

[OldSchoolBoats]

Was just talking to a friend and he said the rate he was looking at was dropped 1/2%. Not sure of the type of loan. I am sure someone will chime in as to what it is.

Yes we saw approximately 1/2% in RATE improvement across all products.

 

[Havasu blue label]

Yes we saw approximately 1/2% in RATE improvement across all products.

Ok what the rate At today

 

[OldSchoolBoats]

Ok what the rate At today

Well as I am sure you know, there are many variables that can affect interest rates for consumers, but today if you have a 740 + score, 25% down, primary residence, single family home......you are looking at 6.375% PAR with no lender fees and 5.99% with 1 point and no lender fees. This is a conventional 30 year fixed.

 

[HNL2LHC]

Well as I am sure you know, there are many variables that can affect interest rates for consumers, but today if you have a 740 + score, 25% down, primary residence, single family home......you are looking at 6.375% PAR with no lender fees and 5.99% with 1 point and no lender fees. This is a conventional 30 year fixed.

Sad to say that their plan has worked. All the talk of 8-10% rates make the 5.99% look like a bargain even though my 4 loan rates are around under 4%.

 

[Cdog]

Got this yesterday from my Wells lender. No too bad.

 

[Cole Trickle]

Well as I am sure you know, there are many variables that can affect interest rates for consumers, but today if you have a 740 + score, 25% down, primary residence, single family home......you are looking at 6.375% PAR with no lender fees and 5.99% with 1 point and no lender fees. This is a conventional 30 year fixed.

People are thinking another .50 drop and a chance for the 5's today with great credit?

 

[Hypnautic]

So you're saying it's time to start buying Meta stock?

The short was over a week ago. As much as I despise Zuck--I was a buyer at $95 and again at $90

If you hear the advise to buy or sell on TV then you know you are days behind the curve.
I think TSLA ($190) and AMZN ($99) are good buys at this price--long hold only.

 

[OldSchoolBoats]

People are thinking another .50 drop and a chance for the 5's today with great credit?

Markets are closed today so that is yesterday's pricing. If rally continues into next week we would need to see some more gains in price amongst lower coupons, to get there.

 

[Done-it-again]

Well as I am sure you know, there are many variables that can affect interest rates for consumers, but today if you have a 740 + score, 25% down, primary residence, single family home......you are looking at 6.375% PAR with no lender fees and 5.99% with 1 point and no lender fees. This is a conventional 30 year fixed.

25% down now?

 

[OldSchoolBoats]

25% down now?

Just using that as an example. First time buyers still 3% down min. Everyone else, 5% down min.

 

[HNL2LHC]

Got this yesterday from my Wells lender. No too bad.

View attachment 1171193

We are looking making a few changes in our property ownership. What is the loan amounts of a Jumbo loan in Havasu these days?

 

[bk2drvr]

Just using that as an example. First time buyers still 3% down min. Everyone else, 5% down min.

What actually is a first time buyer? Does the lender really go back and look if an applicant has ever purchased real estate in their entire life?

 

[Done-it-again]

Just using that as an example. First time buyers still 3% down min. Everyone else, 5% down min.

wasn't sure that was a new requirement now vs 20%. Thx

 

[OldSchoolBoats]

What actually is a first time buyer? Does the lender really go back and look if an applicant has ever purchased real estate in their entire life?

Can't be on title for a property in 3 years.

 

[DrunkenSailor]

If you are looking for a loan Monday is the day to lock.

 

[Havasu blue label]

Well as I am sure you know, there are many variables that can affect interest rates for consumers, but today if you have a 740 + score, 25% down, primary residence, single family home......you are looking at 6.375% PAR with no lender fees and 5.99% with 1 point and no lender fees. This is a conventional 30 year fixed.

That’s a great rate thanks

 

[Havasu blue label]

Can't be on title for a property in 3 years.

On title what about being on the loan

 

[regor]

FedEx Freight To Begin Driver Furloughs Next Month​

FedEx Freight, the less-than-truckload arm of FedEx Corp. and the nation’s largest LTL carrier, said Saturday it will furlough an undetermined number of drivers starting in early December.

MON NOV 14, AT 2:15 PM

10,000 lay-offs


2023 is shapping up to be very interesting.

 

[COCA COLA COWBOY]

This market is brutal!!! Just had a 6 unit property in San Diego fall out of escrow....$3.45 Mil. Had another property fall out last week. Christmas isn't going to be so big this year, that is for sure.

 

[hallett21]

This market is brutal!!! Just had a 6 unit property in San Diego fall out of escrow....$3.45 Mil. Had another property fall out last week. Christmas isn't going to be so big this year, that is for sure.

Lack of funding?

 

[HNL2LHC]

2023 is shapping up to be very interesting.

Supply chain has put us into longer production PLUS increased order volume to the point that we have 6 months of 2023 inked in orders when it is normally 6 weeks. I am waiting to see if anyone tries to cancel orders. But I can’t see that happening since they have broken ground and started the builds. But then again we are in uncharted territory. At least I did not buy into ATX like Tom Brady…..right?!?!?!

 

[Gonefishin5555]

This market is brutal!!! Just had a 6 unit property in San Diego fall out of escrow....$3.45 Mil. Had another property fall out last week. Christmas isn't going to be so big this year, that is for sure.

My client fell out last week on a $13M commercial property they were selling. Buyer was going to owner occupy property and had some kind of pre approval and the bank pulled the plug on the deal and they tried a different lender and it was still a no go. Another client selling a similar size had the deal fall out last month after one the investors back out of the deal, I have to believe the cost of borrowing is blowing up these deals.

 

[RiverDave]

FedEx Freight To Begin Driver Furloughs Next Month​

FedEx Freight, the less-than-truckload arm of FedEx Corp. and the nation’s largest LTL carrier, said Saturday it will furlough an undetermined number of drivers starting in early December.

MON NOV 14, AT 2:15 PM





View attachment 1172307

10,000 lay-offs


2023 is shapping up to be very interesting.

Right before Christmas? That seems insane?