So when’s the housing bubble bursting?

[DC_Dude]

Mortgage rates hit 7.5% as house sales tumble to multi-decade low

US mortgage rates surpassed 7.5 percent for the first time since November 2000.

www.dailymail.co.uk

Millennials are BETTER prepared for retirement

Millennials are on track for a better retirement than their elders thanks to a surge in workplace auto-enrolment schemes, a new study shows.

www.dailymail.co.uk

Why you SHOULD purchase a home this fall: buyers facing 'sweet spot'

Homebuyers are facing a market 'sweet spot' this fall as the number of sellers cutting prices has reached their highest level this year.

www.dailymail.co.uk

Probably higher for a Jumbo Loan...

 

[Helico-pterFunk]

Massive Port Moody redevelopment project gets green light after marathon meeting — and some drama

PORT MOODY — Redevelopment of the city's Coronation Park neighbourhood is expected to begin by October 2025, with the first residents able to move in by late 2028 or early 2029.

www.tricitynews.com

 

[DC_Dude]

 

[DC_Dude]

 

[praetor]

 

[Helico-pterFunk]

Renter was entitled to move out after being told she would have to share a shower, B.C. tribunal rules

A woman who was surprised by the news that she would be sharing the shower in a suite she rented was justified in moving out immediately, B.C.'s Civil Resolution Tribunal has ruled.

bc.ctvnews.ca

A parking spot in Whistler, B.C., just sold for $195K

Less than three months after a $32-million mansion shattered the record for the most expensive property ever sold in Whistler, B.C., another record has fallen.

bc.ctvnews.ca

 

[DC_Dude]

 

[Helico-pterFunk]

Paul Allen’s Historic Villa in the South of France Has Been Sold to a Hedge Fund Billionaire

Known as Villa Maryland, the 18-bedroom estate is located in Saint-Jean-Cap Ferrat.

robbreport.com

Bill Gates Denies Reports He Bought a $60 Million Castle in Northern Italy

According to a spokesperson for Cascade Assemet Management Company, reports that the tech billionaire purchased Villa San Giorgio in Portofino are not true.

robbreport.com

Heather Graham Snaps up a Snazzy Midcentury L.A. Pad for $3.7 Million

The actress bought an updated 1950s residence in Brentwood’s Crestwood Hills neighborhood.

robbreport.com

‘Clerks’ Filmmaker Kevin Smith Lists Ben Affleck’s Former Hollywood Hills Home

Located in L.A.’s celeb-packed Outpost Estates neighborhood, the hillside mansion is going for $6 million.

robbreport.com

Kiefer Sutherland Is Selling His Cozy L.A. Bungalow for $1.8 Million

The “24” star originally picked up this English Tudor-style home in the Atwater Village neighborhood for around $1.2 million.

robbreport.com

 

[DC_Dude]

 

[Dr. Truth]

What kind of dumb ass is this guy? House prices are still astronomically high. Salaries haven’t increased with inflation. Those rates with housing costs are not relative to anything. This guys an idiot

 

[4 Dimensional]

crazy rates

 

[Helico-pterFunk]

 

[Helico-pterFunk]

 

[Helico-pterFunk]

For Home Buyers and Apartment Renters

RELATED POSTS For Getting Out of Debt For Retirement (In Style) For Entrepreneurs Whether you own or rent your casa, these episodes are for you:

moneynewsnetwork.com

"I am in love with an apartment outside of my budget. What should I do?"

RELATED POSTS Silicone Valley: The Money Trail of Barbie Botox with Christine Chiu Should You Quit Your Job? Here’s The Formula from Nicole Walters Government Funding Is Gone For 3+ Million Americans — And No, This Isn’t About Student Debt Originally aired 3.2.2022 Let’s set the scene. You just...

moneynewsnetwork.com

 

[Helico-pterFunk]

 

[Helico-pterFunk]

 

[Helico-pterFunk]

 

[Helico-pterFunk]

‘We’re barely making it’: Eight Canadian stories reveal the pain of soaring mortgage costs

Those who opted for a variable-rate mortgage, which moves in step with Bank of Canada policy rates and Canadian bank prime rates, have borne the full brunt of rate hikes

www.theglobeandmail.com

 

[Helico-pterFunk]

This family bought a cheap house in Italy because the U.S. is too expensive

One U.S. family has become so frustrated by the rising cost of living that they've decided to pack up their lives and move to a town in the deep south of Italy.

www.ctvnews.ca

https://www.cnn.com/travel/us-couple-moving-to-italy-arizona-too-expensive/index.html

Surging bond yields add to Canadian homeowners' mortgage pain as renewals loom

The roughly 75,000 Canadian homeowners awaiting mortgage renewal notices next month are bracing for a shock interest rate jump due to a surprise rise in global bond yields, which will further squeeze already tight household budgets.

www.ctvnews.ca

 

[Helico-pterFunk]

When it comes to Black homeownership, these people are keeping it in the family

Owning property can be a path to generational wealth, but the road to getting there can be hard

andscape.com

Worries about debt are part of my inheritance

Life & Debt is a series looking at the disproportionate impact of financial debt on the Black community. For my entire adult life, a bar from rapper Kanye W…

andscape.com

.PDF document = https://www.nar.realtor/sites/defau...race-and-home-buying-in-the-us-03-02-2023.pdf

 

[Dr. Truth]

I swear some of those people giving advice need to stop. Talking about buying property every few years is wasting money more than renting. They act like rents dont go up every year and property doesn’t go up in value. Buying always is safer than renting and always increases over time in value. Shits absurd .

 

[Helico-pterFunk]

I quit work and moved to a tent- I've saved thousands and I'm happier

In June 2021, Christine Blue, 41, and her son Britton, 14, from New York, packed up their bags and gathered their dogs to embark on an adventure of nomadic living.

www.dailymail.co.uk

We sold our home and took our children out of school to travel Europe

Carl and Ruth Jackson, both 43, from Swindon, struggled through the Covid lockdowns and vowed to make the most of their freedom when it came.

www.dailymail.co.uk

 

[Helico-pterFunk]

Is Mar-a-Lago worth US$1 billion? Trump's winter home valuations are at the core of his fraud trial

How much is Donald Trump's Mar-a-Lago worth? That's been a point of contention after a New York judge ruled that the former president exaggerated the Florida property's value when he said it's worth at least US$420 million and perhaps US$1.5 billion.

www.ctvnews.ca

 

[praetor]

crazy rates

 

[Dr. Truth]

Fixed rate for 10 years probably. Also the house price is probably way jacked up. These builders not about to lose money. They will make up for it some way. This is probably a scam

 

[Helico-pterFunk]

Cribs

www.tmz.com

Lionel Messi's Florida Mansion

Lionel Messi's Florida Mansion

www.tmz.com

Kimora Lee Simmons Sells Beverly Hills Mansion

Kimora Lee Simmons Sells Beverly Hills Mansion

www.tmz.com

Adin Ross Sells L.A. Home

Adin Ross Sells L.A. Home

www.tmz.com

Alex Trebek's Los Angeles Home -- Before Being Demolished

Alex Trebek's Los Angeles Home -- Before Being Demolished

www.tmz.com

Madonna Sells Hidden Hills Mansion For $23M

Madonna Sells Hidden Hills Mansion For $23M

www.tmz.com

 

[Helico-pterFunk]

That plastic surgery $ is good.


Doctors Dubrow and Nassif are the ones featured on the series, Botched.

Heather, Terry’s 14-bedroom ‘Chateau Dubrow’ sale was third-highest in OC history

“$55 million isn’t ‘f–k you money,’ it’s ‘f–k everybody you’ve ever known money,'” the renowned plastic surgeon said on the latest episod…

pagesix.com

Terry and Heather Dubrow Buy English-Style Beverly Hills Estate for $16.1 Million

The Real Housewives star and the Botched surgeon’s new six-acre property was originally built in 1946

www.architecturaldigest.com

Heather Dubrow, Realtor Josh Altman Reveal They Tried to Keep $55 Million Sale of Her Home 'Our Little Secret'

'Million Dollar Listing: Los Angeles' star Josh Altman said Heather and Terry Dubrow's $55 million mansion was the third-highest sale in the history of Orange County

people.com

Dr. Paul Nassif's Bel-Air Home

Dr. Paul Nassif's Bel-Air Home

www.tmz.com

'Botched' Star Dr. Paul Nassif's Slashes Price of $28M Mansion, Hires 4th Realtor After 2 Years On Market

The television personality’s ultra-modern home was first listed for sale in 2021 while it was still under construction

people.com

'Botched' Star Dr. Paul Nassif Sells Bel-Air Home for $20.4M

Dr. Paul Nassif just unloaded his elaborate Bel-Air mansion for a pretty penny after years of construction and incredible design work on the pad.

www.tmz.com

 

[Helico-pterFunk]

Australian couple furious after winning $4.2million home: 'Nightmare'

An Australian family achieved the unimaginable: winning their dream home valued at a staggering $4.2 million. At first, it seemed like a stroke of incredible luck - but not for long...

www.dailymail.co.uk

Final twist after Australian couple angry after winning $4m home

The Griffin family have accused Adrian 'Lambo Guy' Portelli of taking back more than $100,000 worth of goods from the Gisborne, Victoria home before handing it over.

www.dailymail.co.uk

Adrian Portelli's $60m lottery business probed life of luxury revealed

A lottery business run by flashy investor Adrian Portelli, who appeared on reality show The Block, is being investigated in two states over allegations that it breaks gambling laws.

www.dailymail.co.uk

 

[Hey Julian!]

It won’t, even if they stop. No subprime mortgages to fall apart. Prices will stabilize, but not collapse.

I’m doing a u-turn on my initial opinion here. I think a collapse of the housing market will happen, but not based on bad loans. Right now everyone with a low rate is holding, but everyone’s cost is still going up. I’m using my own situation as an example. I bought my house in 2020 and while I have an excellent rate at 2.75% my monthly payment has jumped over $200 a month and I expect that to be $300 more by next year. Reason being property taxes and insurance has jumped up big time. The increased value of people homes while good from an equity standpoint is not without consequences. My house was worth about $100k more than what I bought it for at its peak, but now it’s worth about $75K more. Still good from an equity standpoint, but property taxes aren’t going down. I‘m an insurance agent so I know rates are up across the board. Car insurance is double what it was a year ago.

The cost of living increases are not sustainable for most people and they are starting to dip into their 401k‘s at record numbers. Crefit card rates and usage is much higher and wages obviously aren’t keeping up. Now that the moratorium on rent, student loans and forebearance is lifted the squeeze is going to be massive on the middle class. I can tell because this month last year, I was averaging around $12K in gross sales on my shoe reselling business. I’m at about $4k in gross sales last month and we’re in 4th quarter the busiest sales quarter of the year. People don’t have disposable income. Once the credit cards are maxed and you can’t take from your 401k anymore the foreclosures will start in flood in. I totaled my Q7 last month and was about to cop another one. At the last minute I said fuck that lemme buy a cheap car cash and save that $700 a month payment which is exactly what I did. When the shit gets worse and people start getting their cars repoed(which has already started) I’ll look around next year for the deals on something nice again.

Bottomline, is if you don’t need the expense get rid of it and cut back on your spending. The people that have some cash on hand in next few years will reap the benefits just like 2008. Get a side hustle. Get a side hustle. I repeat get a side hustle! This economy is about to be fucked up, but you can get in front of this shit.

Just my humble opinion.

 

[Helico-pterFunk]

Jennifer Lopez and Ben Affleck took out $20M mortgage for LA mansion

Lopez, 54, and Affleck, 51, who closed on the $60.85 million mansion this past May, opted for a mortgage from JPMorgan Chase Bank months later on August 31.

www.dailymail.co.uk

JLo and Ben Affleck take out huge $20m mortgage on $61m Beverly Hills mansion

JENNIFER Lopez and Ben Affleck have taken out a $20million mortgage on the $61million Beverly Hills mansion they allegedly paid for in cash, The U.S. Sun can exclusively reveal. After months of sea…

www.the-sun.com

https://www.redfin.com/CA/Beverly-Hills/2571-Wallingford-Dr-90210/home/6832550

Jennifer Lopez and Ben Affleck snap up $60M love nest in Beverly Hills

The deal took just one week and the pair paid nearly $15 million under the $75 million asking price.

www.dailymail.co.uk

 

[Helico-pterFunk]

Inside New Jersey's GOLDEN house

Dan and Sheree Funsch are selling their New Jersey mansion made of real gold for $9.995 million - which is $6 million less than it cost them to build it.

www.dailymail.co.uk

 

[Helico-pterFunk]

Housing crisis affecting Montreal North shelter for asylum seekers - Montreal | Globalnews.ca

Kicha Estimé, who operates La Traverse, says now she has to turn away between five and 10 asylum seekers every day, and hers is the only shelter of its kind in Montreal North.

globalnews.ca

Majority of unhoused campers evicted from Montreal overpass still without shelter - Montreal | Globalnews.ca

Nearly four months after a homeless encampment under the Ville-Marie Expressway was dismantled, about two-thirds of the people who were evicted are still unhoused.

globalnews.ca

Temporary closure of Chez Doris day shelter could put a strain on resources for unhoused Montrealers - Montreal | Globalnews.ca

Chez Doris is temporarily pausing some day services until December at the earliest because of staffing shortages.

globalnews.ca

 

[Helico-pterFunk]

Mindy Kaling Drops Millions on a Beverly Hills Fixer-Upper Estate

The actress paid $15 million for a dated traditional home in a prime locale north of Sunset Boulevard.

robbreport.com

Sylvester Stallone Sells $17 Million California Estate to John Fogerty

That chalks up as a $1 million loss for Rocky, who bought the 2.2-acre, Martyn Lawrence Bullard-designed Hidden Hills compound less than two years ago.

robbreport.com

The One That Got Away: Inside Katy Perry’s Fight Over a $15 Million Montecito Estate

For over three years, the elderly founder of 1-800-Flowers has sought to void a contract he signed to sell his Montecito home to the singer, but she’s not backing down.

robbreport.com

Madeleine Albright’s Longtime Georgetown Home Packs in More Than 50 Years of Political History

Before her death in 2022, the former U.S. Secretary of State regularly entertained dignitaries at the Federal-style residence, which is listed at $4 Million.

robbreport.com

 

[praetor]

Spoke to a large multifamily firm active in Florida.

Their insurance is expiring on a 300-unit, 90s built deal near Tampa.

They told me they can't get a single company to offer them a renewal.

Florida is the #1 state in the national for in-migration and has been one of the hottest investment markets.

But now you can't get insurance?

Can this be real?

 

[Helico-pterFunk]

Reese Witherspoon Just Spent $17 Million on a Sumptuous L.A. Estate

Located on the Pacific Palisades Riviera and once owned by TV super-producer Steven Bochco, the tree-shaded property includes an updated 1930s house.

robbreport.com

Inside Reese Witherspoon's ever growing property portfolio

Just like her character in Legally Blonde, the petite mother-of-three has an eye for luxury, recently buying up four new properties - three in Tennessee and one in California.

www.dailymail.co.uk

Inside Reese Witherspoon’s amazing property portfolio | loveproperty.com

You might know Reese Witherspoon as the talented actor behind such hits as Legally Blonde and Wild, but the successful silver screen star is also a pretty savvy property magnate. One of the highest-paid actresses in Hollywood, she’s invested her money wisely in properties around the US, from...

www.loveproperty.com