Month: December 2022

California reparations committee will recommend handing out $223,200 to descendant of slaves (and this will be funded how?)

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Gavin Newsom’s reparations committee will recommend handing out $223,200 per person to all descendants of slaves in California for ‘housing discrimination’ at a cost of $559BN – in nation’s biggest restitution effort ever A task force was set up in California to make proposals for slavery reparations Descendants of slaves in California could receive $223,200 each, … Read more

Home builders don’t typically throw incentives at buyers already in backlog, but it’s happening now.

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Ton of homes in backlog waiting to close still due to stretched build cycles. Construction costs have yet to decline and lion's share of homes in backlog reflect still elevated build costs, but now having to adjust lower on implied average sales price, thus margin squeeze. — Rick Palacios Jr. (@RickPalaciosJr) November 30, 2022 US … Read more

Housing Bubble 2.0 is bursting. Cue the next Great Financial Crisis in 3-2-1

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This is the fifth consecutive month of of month-over-month declines, and pending home sales have now fallen in 11 of the last 12 months.https://t.co/895uWSQ2Hd — HousingWire (@HousingWire) November 30, 2022 First-time homebuyers priced out by speculators and corporate “investors” flush with unlimited Yellen Bux to blow on houses – knowing the Fed & middle class … Read more