US Home Prices Jumped By Most In A Year In May, Case-Shiller Data Shows
• Zero Hedge - Tyler Durden"Investors are unlikely to feel safe enough to get into the equities water before such an eventful week"
Contents Pages by Subject
Housing
The Sequel Is Here: Housing Crash 2 Accelerates As Home Sales Drop To The Lowest Level Since 2009
• http://theeconomiccollapseblog.com by Michael SnydIf you are trying to sell your home right now, I feel so sorry for you.
One Bubble Is About to Pop...and No One Is Talking About It
• https://townhall.com, Matt VespaThe Biden administration, the media, Democrats, and Republicans are all either willfully ignorant or blithely unaware of the looming economic crisis that's about to hit.
Walmart Billionaire Is Building "America's First Woke City" - For $400bn
• MSNIntroducing the sustainable cities of tomorrow
Spotlight on Mortgage Rates: Where Are They? Where Are They Headed?
• https://mishtalk.com, By MishLet's check in with Mortgage News Daily and Bankrate to see what they say about national mortgage Rates.
Buckeye, Queen Creek officials try to calm public after Arizona limits new home construction
• by Taylor Seely and Alexandra HardleCity officials in fast-growing Queen Creek and Buckeye downplayed concerns about water needed for future growth after news broke that the state's water agency would stop approving new home developments that rely solely on groundwater.
I thought this rotating house was impossible.
• Tom Scott - YouTube.comNear San Diego, California, there's a rotating house: and somehow, all the utilities, the electricity, gas and water, work even on the rotating part. How's that possible?
Why Home Prices Haven't Crashed… Yet. Housing Market 2023
• https://www.youtube.com, Jerry PinkasWhat is really going on with real estate and home prices? The TRUTH! You need to look at the broader economic trends, the stuff no one else is looking at, to figure out what is really happening here.
Do You Remember The Chaos That "Underwater" Properties Caused In 2008 And 2009?
• http://theeconomiccollapseblog.com, by MichaelDo You Remember The Chaos That "Underwater" Properties Caused In 2008 And 2009? Well, It Is Starting To Happen Again…
Major city announces ban on new homes due to concerning conditions
• The Cool DownDue to a lack of water, the state of Arizona has announced that it will not approve any more building permits for single-family homes that rely on wells in Maricopa County, CleanTechnica reported.
California's exodus picks up steam as data shows 111,000 residents - more than 300 per DAY...
• Daily News from the Art of Liberty Foundation...ditched the West Coast for Texas where homes cost $282,000 less
Why AirBnB Owners Are About To Be Forced Property Sellers
• https://www.zerohedge.com, by Nick GerliThese Airbnb owners are getting ready to sell because of "Airbnb bust", a downturn in the short-term rental market that started in the second half of 2022, with Airbnb operators in some cities facing a 50% decline in revenue.
US Home Prices Surged In April; All 20 Cities See Gains As Rates Dipped
• https://www.zerohedge.com, by Tyler DurdenHaving bounced (unexpectedly) in March (the most recent data), Case-Shiller's 20-City Composite home price index was expected to continue bouncing in April (+0.4% MoM exp) and it did bigly - rising 0.91% MoM - the biggest MoM jump since May 2022...
US New Home Sales Unexpectedly Explode Higher In May
• https://www.zerohedge.com, by Tyler DurdenNew home sales have been dramatically outperforming existing- and pending-home sales as unprecedentedly low inventories send buyers into the arms of incentivizing homebuilders.
American Housing Crisis? 40% Think They Need to Win The Lottery to Buy a Home
• https://www.activistpost.com by Chris MeloreHome affordability is so out of reach right now that two out of five Americans think they'd need to win the lottery to become homeowners.
Here's Where Penny-Pinching Gen Zers Are Buying Homes
• https://www.zerohedge.com by Tyler DurdenDespite the worst affordability crisis in decades and a national housing shortage, individuals from Generation Z, born between 1997 and 2012, are purchasing homes. A new report reveals which cities these youngsters are attracted to the most.
Existing Home Sales Unexpectedly Rose In May As Prices Tumble Most Since 2011
• https://www.zerohedge.com, by Tyler DurdenExisting home sales unexpectedly rose in May (+0.2% MoM vs -0.7% MoM) with a small upward revision for April's tumble (from -3.4% MoM to -3.2%). That is only the second positive month for existing home sales since Jan '22...
These Are The Most Affordable US Cities For Home-Buyers
• https://www.zerohedge.com by Tyler DurdenJust before the pandemic, the average home price in the U.S. was $313,000 - a figure that has since jumped by 40% to $436,800 today. As home prices and mortgage rates increase, home ownership is becoming an unrealistic dream for some.
The Secret behind China's Ghost Cities
• Serpentza - YouTubeWhat is truly the purpose of these hollow concrete labyrinths, what secret lies within?
Home foreclosures surged 7% in April with more than 35,000 Americans unable to make their payments:
• https://www.dailymail.co.uk by ALICE WRIGHTHomeowners in Florida, California and Texas were hit worst
They Bought a House With Plans to Airbnb. Then They Were Banned for Knowing the Wrong People
• https://www.vice.com, By Maxwell StrachanFor Kristin Turner and her family, the short-term rental company's ban was as devastating as the appeal process was maddening.
FHA Floats New Program To Use Taxpayer Cash To Pay Mortgages Of Delinquent Homeowners
• https://www.zerohedge.com, by Tyler DurdenFurther proving we haven't learned our lessons from the "free stuff" era of Covid "relief" that taxpayers funded and continue to pay for via out of control inflation, the government announced last week it is working on a way to reward people who don'
Investor Home Purchases Collapse Most On Record
• https://www.zerohedge.com by Tyler DurdenResidential real estate brokerage firm Redfin released new data that revealed a record-breaking drop in homes purchased by investors in the first quarter.
Elon Musk said home prices will crater - and it prompted a sharp rebuttal...
• https://www.msn.com, by proseninsider.comElon Musk said home prices will crater - and it prompted a sharp rebuttal from the CEO of housing giant Redfin
Elon Musk Warns Homeowners About the Value of Their Homes
• The StreetThe billionaire says residential real estate is the next victim of the ongoing economic downturn.
Case-Shiller Top City Home Prices Decline From Year Ago for the First Time Since May 2012
• https://mishtalk.com by MishThe Case-Shiller 10-city and 20-city indexes are now down year-over-year although the national index is still positive.
CONSUMER RESOURCE GUIDE FOR OVERSEAS PROPERTY OWNERSHIP
• ECI DevelopmentECI's CEO and Real Estate expert Michael Cobb has created the Consumer Resource Guide, which is an essential one-stop reference guide for home buyers, packed with essential information to assist consumers throughout their home buying process.
Top 10 Cheapest Beach Homes In America
• https://www.zerohedge.com by Tyler DurdenThe 30yr fixed mortgage rate is back above 7% for the first time since early March. Housing affordability is the worst in decades.
State Farm Halts Home Insurance Sales In California
• https://www.zerohedge.com, by Tyler DurdenFaltering California took another economic hit on Friday, as America's largest personal lines insurer said it would immediately stop selling new home insurance policies in the state. California is the largest property and casualty insurance market in
Pending Home Sales Disappoints In April As Mortgage Rates Top 7.00%
• https://www.zerohedge.com by Tyler DurdenExisting home sales slumped in April while new home sales soared (thanks to heavy incentives and price cuts) and this morning's pending home sales data was expected to rebound modestly after a sizable decline in March. However, pending home sales in
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