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

[Havasu blue label]

Bad day for all subs that contract with companies

 

[hallett21]

If you went short on SVB options this week you could have 4-5000:1 your investment lol.

 

[hallett21]

 

[EmpirE231]

If you went short on SVB options this week you could have 4-5000:1 your investment lol.

things are all good man! why would anyone have shorted bank that deals with venture capital and tech sector companies?

 

[hallett21]

things are all good man! why would anyone have shorted bank that deals with venture capital and tech sector companies?

All I had to do was throw 4k at it and I’d be worth 20 million today. Dammit!!!!

 

[Havasu Rehab]

View attachment 1207832

I’m guessing those were Nancy Pelosi’s trades?

 

[PaPaG]

First top 16th bank in the US since 2008 ran out of money......SHUT DOWN! Today's news reminds me of that old song "IT'S ONLY JUST BEGUN"
Lets see if any small banks follow suit...

 

[RiverDave]

First top 16th bank in the US since 2008 ran out of money......SHUT DOWN! Today's news reminds me of that old song "IT'S ONLY JUST BEGUN"
Lets see if any small banks follow suit...

A tech bank in Silicon Valley to be clear..

 

[PaPaG]

A tech bank in Silicon Valley to be clear..

2nd largest bank in History is the point and 16th largest bank in the US. No one would loan them the 16 BILLION they needed, and remember the tech industry basically has a hand in almost every aspect of modern daily living.

 

[Havasu blue label]

Cant make money on a 3 percent mortgage loan when you have to pay 5 percent on a standard cd

 

[RiverDave]

2nd largest bank in History is the point and 16th largest bank in the US. No one would loan them the 16 BILLION they needed, and remember the tech industry basically has a hand in almost every aspect of modern daily living.

I’m asking did you read the actual causes of what happened there?

 

[LargeOrangeFont]

Cant make money on a 3 percent mortgage loan when you have to pay 5 percent on a standard cd

That’s not really what the problem was here, but sure

 

[LargeOrangeFont]

2nd largest bank in History is the point and 16th largest bank in the US. No one would loan them the 16 BILLION they needed, and remember the tech industry basically has a hand in almost every aspect of modern daily living.

Why would they? Just divert one Ukraine payment and the .gov will cover it.

 

[Havasu blue label]

That’s not really what the problem was here, but sure

Please explain

 

[Orange Juice]

Please explain

When interest rate jump, prices of the underlying security fall.

 

[Havasu blue label]

When interest rate jump, prices of the underlying security fall.

yes correct thanks

 

[PaPaG]

I’m asking did you read the actual causes of what happened there?

Yes I actually did, I always do a bit of research if specific potentially devastating news pops out in regards to the financial world before making most comments.
Here is the Gist of it:

Why did SVB's stock price crash?​

There are two reasons – both tied to the Federal Reserve's aggressive interest-rate hikes as it bids to crush soaring inflation in the US.

The Fed's tightening campaign weighed on SVB's bond holdings, and it disclosed a $1.8 billion loss Thursday after completing a $21 billion fire sale of its fixed-income portfolio. The company tried and failed to raise $2.3 billion through stock sales to cover those losses.

In addition, startups find it more difficult to access funding with borrowings turning costlier – and that's fueled a high level of deposit outflows from SVB, analysts say. This sparked fears of a bank run, prompting several of the SVB's clients to limit their exposure to the institution.

SVB's "unique niche in the tech world is a real boon when that business is booming, but a problem when it's not," Interactive Brokers chief strategist Steve Sosnick said.

How is it affecting other bank stocks?​

Crypto-friendly bank Silvergate Capital announced Thursday it would shut down – and the crisis at two financial institutions ignited fears of contagion effects across the entire sector, fueling a sharp selloff across banking stocks.



Wall Street's four biggest banks – JPMorgan, Bank of America, Wells Fargo, and Morgan Stanley - shed $55 billion in combined market value Thursday with investors rattled by the implosion of SVB and Silvergate, according to data from Refinitiv.

The KBW Bank Index – which tracks the price of the US's leading publicly-traded banks – plunged 7.7% Thursday for its worst day in almost three years.

On Friday, bank stocks offered a mixed picture. JPMorgan's stock price recovered some, while First Republic Bank saw its stock drop 20%.

In closing the professionals that know much more than you or I can more clearly explain the reasons and the why's.

 

[hallett21]

Yes I actually did, I always do a bit of research if specific potentially devastating news pops out in regards to the financial world before making most comments.
Here is the Gist of it:

Why did SVB's stock price crash?​

There are two reasons – both tied to the Federal Reserve's aggressive interest-rate hikes as it bids to crush soaring inflation in the US.

The Fed's tightening campaign weighed on SVB's bond holdings, and it disclosed a $1.8 billion loss Thursday after completing a $21 billion fire sale of its fixed-income portfolio. The company tried and failed to raise $2.3 billion through stock sales to cover those losses.

In addition, startups find it more difficult to access funding with borrowings turning costlier – and that's fueled a high level of deposit outflows from SVB, analysts say. This sparked fears of a bank run, prompting several of the SVB's clients to limit their exposure to the institution.

SVB's "unique niche in the tech world is a real boon when that business is booming, but a problem when it's not," Interactive Brokers chief strategist Steve Sosnick said.

How is it affecting other bank stocks?​

Crypto-friendly bank Silvergate Capital announced Thursday it would shut down – and the crisis at two financial institutions ignited fears of contagion effects across the entire sector, fueling a sharp selloff across banking stocks.



Wall Street's four biggest banks – JPMorgan, Bank of America, Wells Fargo, and Morgan Stanley - shed $55 billion in combined market value Thursday with investors rattled by the implosion of SVB and Silvergate, according to data from Refinitiv.

The KBW Bank Index – which tracks the price of the US's leading publicly-traded banks – plunged 7.7% Thursday for its worst day in almost three years.

On Friday, bank stocks offered a mixed picture. JPMorgan's stock price recovered some, while First Republic Bank saw its stock drop 20%.

In closing the professionals that know much more than you or I can more clearly explain the reasons and the why's.

I think everyone can agree that tech became over inflated during Covid.

So carrying a majority of investments in that sector was a risk that didn’t pay off.

I don’t think their downfall is an indicator of the banks in general failing. Unless they all are in the same investments. Which if they are they are stupid and deserve to fail. And may god have mercy on us.

 

[PaPaG]

I think everyone can agree that tech became over inflated during Covid.

So carrying a majority of investments in that sector was a risk that didn’t pay off.

I don’t think their downfall is an indicator of the banks in general failing. Unless they all are in the same investments. Which if they are they are stupid and deserve to fail. And may god have mercy on us.

I hope you are right, it is going to hurt a lot of hard working folks if more start failing.

 

[hallett21]

I hope you are right, it is going to hurt a lot of hard working folks if more start failing.

I think this is putting a lot of doubt in the banks. Which it should rightfully so.

But I hope greed hasn’t gotten the best of them.

If all the banks fail overnight the Feds will
step in again. You’re almost better off being on the debt side of things. If by some miracle the government allows citizens to buy debt for pennys on the dollar you’ll see true generational wealth over night.

 

[Havasu Rehab]

I think everyone can agree that tech became over inflated during Covid.

So carrying a majority of investments in that sector was a risk that didn’t pay off.

I don’t think their downfall is an indicator of the banks in general failing. Unless they all are in the same investments. Which if they are they are stupid and deserve to fail. And may god have mercy on us.

Google overhired talent to do 'fake work' and stop them working for rivals, claims former PayPal boss Keith Rabois — FORTUNE

The PayPal Mafia veteran claimed new hires were given "fake work", adding that mass layoffs seen in the sector are overdue.

stocks.apple.com

Here’s an article I read earlier today that supports this argument.

 

[Wave Hi]

Im so glad i clicked on this thread, i was having way to good of a day today.. Thanks guys for reminding me to reel it back in...

 

[c_land]

RDP be like

 

[530RL]

Data today

Lennar Reports First Quarter 2023 Results

Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, today reported results for its first quarter ended February 28, 2023. First quarter net earnings attributable to Lennar in 2023 were $597 million, or $2.06 per diluted share, compared to first quarter net...

finance.yahoo.com

 

[530RL]

Today's data:

US pending home sales rise for third straight month; loan demand increases

Contracts to buy U.S. previously owned homes increased for a third straight month in February, raising cautious optimism that the housing market slump could be bottoming out.

www.reuters.com

 

[hallett21]

Everything in our area is selling at asking or over.

 

[Havasu blue label]

Everything in our area is selling at asking or over.

In my neighborhood as well but it is California

 

[Boatymcboatface]

In my neighborhood as well but it is California

That’s because half the people that left got a taste of real winter and decided to come back!

 

[LargeOrangeFont]

Whose gonna be the first to kick this can down the road another 18 months?

My parents house is under contract for just under asking. They were asking all the money plus a bit for their house.

They lowered their price 2%. The realtor double ended the deal, so that is 1% back to them.

 

[shintoooo]

We listed a property on Thursday March 16th and had over 90 showings on that Friday, Saturday and Sunday and went into escrow on the 23rd. Had 14 offers.

Listed for $788K and accepted offer at $820K. Went with the best and most qualified buyer. The best ones were all putting 20-30% down.

They waived inspection and close in 21 days so we should be closed on April 12th.

 

[LargeOrangeFont]

We listed a property on Thursday March 16th and had over 90 showings on that Friday, Saturday and Sunday and went into escrow on the 23rd. Had 14 offers.

Listed for $788K and accepted offer at $820K. Went with the best and most qualified buyer. The best ones were all putting 20-30% down.

They waived inspection and close in 21 days so we should be closed on April 12th.

Congrats. You’ll finally have enough to buy a hat.

 

[jet496]

Everything that goes on the market in our zip code sells immediately if it's a decent place & maybe a month if it's a total POS. Either way there's buyers out there somewhere willing to pay. Lately though, we haven't seen anything come on the market so people are kind of staying put for the moment I guess.

 

[Dalton]

Sold 1 year ago for 540 now asking 530


https://www.zillow.com/homedetails/...ssage&utm_medium=referral&utm_source=txtshare

 

[Todd Mohr]

2 homes for sale in my subdivision in Queen Creek for over 4 weeks, both have lowered their price 10-15k. Asking prices seem realistic, Az is kinda soft right now I'm thinking, still tons of homes under construction in QC.

 

[Gonefishin5555]

what I heard from a realtor was that a lot of homeowners are buying a second house and keeping their first one as a rental because the mortgage payment is so low.

 

[RVR SWPR]

We listed a property on Thursday March 16th and had over 90 showings on that Friday, Saturday and Sunday and went into escrow on the 23rd. Had 14 offers.

Listed for $788K and accepted offer at $820K. Went with the best and most qualified buyer. The best ones were all putting 20-30% down.

They waived inspection and close in 21 days so we should be closed on April 12th.

Your house sold when the buyers walked thru the kitchen.

 

[regor]

This should help prices.

China, Brazil strike deal to ditch dollar for trade

It's Beijing’s latest salvo against the greenback. Read more at straitstimes.com.

www.straitstimes.com

BRASILIA - China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said on Wednesday, Beijing’s latest salvo against the almighty greenback.

The deal will enable China, the top rival to US economic hegemony, and Brazil, the biggest economy in Latin America, to conduct their massive trade and financial transactions directly, exchanging yuan for reais and vice versa instead of going through the dollar.

“The expectation is that this will reduce costs... promote even greater bilateral trade and facilitate investment,” the Brazilian Trade and Investment Promotion Agency (ApexBrasil) said in a statement.

China is Brazil’s biggest trading partner, with a record US$150.5 billion (S$200 billion) in bilateral trade last year.

The deal, which follows a preliminary agreement in January, was announced after a high-level China-Brazil business forum in Beijing.

Brazilian President Luiz Inacio Lula da Silva was originally scheduled to attend the forum as part of a high-profile China visit, but had to postpone his trip indefinitely on Sunday after he came down with pneumonia.



The Industrial and Commercial Bank of China and Bank of Communications BBM will execute the transactions, officials said.


China has similar currency deals with Russia, Pakistan and several other countries.

 

[Buddy]

Like my dad said back in 2007 while I was flipping my 3rd house that yr, "nothing makes sense son"
I said , what do you mean dad?
He said, last house you sold to a school teacher, she can't afford that.
I said, what should I do Dad.
He replied fuck if I know but things aren't right.
So I sold that flip unfinished and months later the condo crisis happened, then the rest is history. I believe we are around the time when my dad said nothing makes sense again .

 

[shintoooo]

Your house sold when the buyers walked thru the kitchen.

Thanks. That's our main house. We're still living there. This one was an investment house and it's a tear down in my opinion but you can also live there and not change a thing.

 

[bonesfab]

what I heard from a realtor was that a lot of homeowners are buying a second house and keeping their first one as a rental because the mortgage payment is so low.

That's what I did. My rental is 500.00 cash positive even giving a fair deal on it.

 

[Boatymcboatface]

Sold 1 year ago for 540 now asking 530


https://www.zillow.com/homedetails/...ssage&utm_medium=referral&utm_source=txtshare

It’s not just havasu.

20 Camino Silla, San Clemente, CA 92673 | Zillow

20 Camino Silla, San Clemente CA, is a Single Family home that contains 2294 sq ft and was built in 2000.It contains 4 bedrooms and 3 bathrooms.This home last sold for $1,250,000 in May 2023. The Zestimate for this Single Family is $1,559,800, which has decreased by $26,403 in the last 30...

www.zillow.com

 

[pronstar]

My buddy put this on the market two weeks ago…multiple bidders almost immediately.

He accepted $1 million, cash, 3 week close and no inspection adjustments (he’s a contractor and rehabbed the place himself).

29832 2Nd Pl Sw, Federal Way, WA 98023

Sold Listing. You will be in awe of the stunning panoramic sound and mountain views from nearly every room in this lovingly cared for ...

www.homes.com

Doesn’t really prove or disprove anything…

 

[riverroyal]

Can I let go of my hat now? Tired of holding on to it.
My neighborhood went up.
The question is sell now or mid summer

 

[DrunkenSailor]

Securitization spreads have moved from 150 to 280 in the past few weeks. The big banks are modeling spreads at 300. Rates are headed back up here shortly everyone.

 

[schweeng]

Walked the swap meet last Sunday.. can’t recall seeing so many real estate companies displaying at swap meet before - don’t know what it means but they were obviously needing to pick up the hustle game a bit and do some extra work. They all had it pretty easy for 2plus years

 

[bonesfab]

Walked the swap meet last Sunday.. can’t recall seeing so many real estate companies displaying at swap meet before - don’t know what it means but they were obviously needing to pick up the hustle game a bit and do some extra work. They all had it pretty easy for 2plus years

Getting a whole lot more cold calls from sales and financing companies lately. Must be having to work for it now.

 

[pronstar]

My phone rings nonstop with “I can help fund your business”calls.

That’s what I get for using my personal number when I formed my business.

 

[NicPaus]

Went to one earlier for my Realtor. Just sold for 4 million. Bought 6 years ago for 2.8. Young family in there 30s buying it. Put 1.2 down. From Texas. Most likely a vacation house. Sold in a week. Few small fixes and escrow should close in 2-3 weeks.

 

[shintoooo]

People would rather put their money in Real estate right now instead of banks.

https://twitter.com/i/web/status/1641228028234670085

 

[HNL2LHC]

People would rather put their money in Real estate right now instead of banks.

https://twitter.com/i/web/status/1641228028234670085

Right there myself. Just about to pull cash out to pay off the next property rather than have cash in the banks.….