1. The housing market may be slowing down, but Nobel Prize winner Robert Shiller of the Case-Shiller Index, and Yale University professor of economics told CNBC he isn’t fearful that a big downturn is ahead. Whew! I hoped he was going to say that. His exact words are “I don’t expect a sharp turn in the housing market at this point” Check out the three minute video in this article; Nobel Prize winner Robert Shiller: I don’t expect a sharp turn in the housing market.
2. SO MUCH FOR THE STARTER HOME
“With inventory tight, home prices high and interest rates rising, many homeowners are giving up on the idea of trading up from the first home they bought.” Ronda Kaysen from the NYT just wrote a story So Much for the Starter House. Research shows people are staying in their houses longer these days and instead of moving into a different home ever five to seven years; “now we’re now staying for 10, according the National Association of Realtors.”
3. IN FALL GRAPHIC
Okay, it’s time to admit it. Winter is coming. Somedays here in the Pacific Northwest it feels like it’s already here. Realtor Magazine just posted a reminder and info graphic of a Fall Yard Care Checklist: What to Do When. “Check out this infographic from the National Association of Landscape Professionals that breaks down all these chores and when they should done by region.” Happy fall!
4. THE BIG WHY
Is flexibility important to you? Forbes just listed 3 Signs You’re Not Ready To Buy A Home. “If having a permanent residence in a great community or a yard that your kids and/or fur babies can play in is top priority, buying a home can be well worth the price tag.” If any of the three scenarios in the article apply to you, then home ownership may your life more stressful. “Since you can find better investments elsewhere, the main reason you should buy a home is to improve the quality of your life.” Find out what the other two signs are by reading the entire article.
5. WEALTH INEQUALITY
“In the United States more than almost anywhere else, wealth and income are concentrated among business owners and landlords. And that club, blessed by capitalism, is becoming increasingly difficult to join.” The WSJ just posted an article, Owning your own home doesn’t make you rich. Owning somebody else’s does. The article is comprehensive and a good read if you’re interested in what’s going on in foreign markets as well.
6. WHOA NELLY
I think it’s a good thing when I hear home prices are going up more slowly. In our most recent past, things were crazy here in the Seattle area and many people were priced out of the market. NBC just released an article, Home prices continue to cool, in a sign the housing market is slowing down. There is no doubt the market has slowed, and we’ll see how it’s impacted with rising interest rates.
7. DOUBLE WHAMMY
Southern California suffers its worst housing slump in over a decade, CNBC reports “The number of new and existing houses and condominiums sold during the month plummeted nearly 18 percent compared with September 2017, according to CoreLogic. That was the slowest September pace since 2007, when the national housing and mortgage crisis was hitting.” And…”that while the median sale price was up 3.6 percent year over year in September, the principal and interest mortgage payment on the median-priced home was up 14.2 percent because mortgage rates increased about 0.8 percentage point over that period.”
8. THE TABLE IS SET
My wife sets a great holiday table. In fact, her everyday table setting is quite remarkable as well. While I’m more likely to grab a plate of food and sit down, she always sets the table for dinner. The NYT just released an article you can use to wow your dinner guests during the holidays; Setting a Fresh Table. “A festive table setting is about more than just providing some décor for your holiday dinner. It can set the mood for a party, spark conversations among guests and give you an excuse to dust off your grandmother’s silver and china.”
9. PIPE DREAM
High Times just wrote an article about a Southern California real estate developer who will list a couple of properties next summer as “Los Angeles’ new cannabis conservatory mansions. First, each residence will feature a dedicated “cannabis conservatory.” The conservatory provides everything needed to grow organic, top-shelf medicinal cannabis, as well as a range of amenities and devices for smoking, vaping and cooking with weed. Taking a look at early 3D renderings, the cannabis conservatories will open up onto an infinity pool and a breathtaking view of the city. Ample space for a session with close friends or a large hang are all provided for, as are bongs that look like ornamental vases.” Is it a marketing ploy or a pipe dream? Read the rest of the article; LA Real Estate Developers are Taking High-End Living to the Next Level.
10. BURIED NOT SO ALIVE
I know, I know, Halloween is over but this article from Realtor.com applies all year long. 10 Scariest Things a Home Inspector Might Find in Your House. “So you think there’s no way a tank is buried on your property? You may be surprised. Buried oil tanks are still quite common in colder climates; burying the tank helps prevent the fuel from freezing and lets it flow more smoothly. Plus, older tanks were often single-wall, so any corrosion or damage to the tank could mean oil seeping into the ground. In the case of an oil leak, the tank and all the surrounding soil must be removed and disposed of as hazardous waste; the soil gets dug out until all traces of oil are gone. If it’s been leaking for a while, that could mean a lot of soil.”
Have a great weekend!