Tag Archive for: home prices

Home Prices UP per Case-Shiller AND FHFA; PLEASE IGNORE MEDIAN HOME PRICE NONSENSE!

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“Low inventory and high demand from homebuyers pushed up U.S. home prices in February.” “The index posting a gain after seven months of decline is ‘suggesting that home prices nationally have bottomed out,’ Selma Hepp, chief economist at CoreLogic, said in a note.”  Both of the above quotes are from this MarketWatch article from yesterday, […]Read More

Debunking Negative Housing News Again. Sigh…

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“I just had a listing sell for $200,000 over asking. All of my homes are selling within a week, and at list price. This is not my reality. Am I missing something?” That was a text I received last night from an extremely successful and experienced agent who has listed and sold more homes than […]Read More

House Prices Up 13x; College Coaching Salaries Up 370x – A Bit of Fascinating Perspective

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AMERICA’S TOP COLLEGE COACH MADE $27,000 IN 1974 VS. $10 MILLION TODAY Woody Hayes was a renowned and somewhat nutty head coach of Ohio State – where he resided for decades, winning a whopping FIVE national championships. He very famously ended his career though when he punched an opposing team’s player after an interception – […]Read More

Putting the “Median Home Price” Nonsense to Bed – Once and For All

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MEDIAN PIZZA PRICE PLUMMETED AT JVM! We are in a literal state of panic here at JVM because the median price of pizza has dropped like a rock over the last year – and we are pretty sure it is a sign of a total meltdown in the pizza market! In 2021, we only ordered […]Read More

Rates Fell 1/2% … Almost.

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The Most Important News Report Of The Year Dropped Today! The most important news report was today’s inflation data, as depicted in the Consumer Price Index (CPI) report. It is extremely important for those of us in the mortgage and real estate industries because almost nothing drives interest rates more than inflation news. And, as […]Read More

How Interest Rates Impact Home Values (Not What You Think)

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“Jay, How Naïve Are You?” That was the response I got from a past client last spring when I was noting how higher interest rates had not yet impacted home values. I made the further mistake of saying I was not sure how much higher rates would impact values too, in light of all the […]Read More

It’s The Inventory, Stupid! (Why Values Are Not Crashing)

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Before I explain who I am calling “stupid,” I want to touch on numerous comments I received in regard to Monday’s Blog: Why Everyone Needs A House As An Inflation Hedge Now More Than Ever. All of the comments reminded me that it is NOT just the house that is the inflation hedge, but it […]Read More

Why The Fed Desperately Wants to TANK the Housing Market!

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One of my favorite macro pundits, Alfonso Peccatiello (former $20 billion fund manager who goes by “Alf”) recently tweeted this: “The biggest group of consumers in the US owns houses, not stocks. And this is why taming the animal spirits in the housing market is paramount important for the Fed. And they will succeed…” He […]Read More

Is The Fed Trying to Tank The Housing Market – Or Just Slow It Down?

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Agents in many of the markets we work in are telling us that they are now finally seeing a slowdown in the market. One agent who lists high-end homes in the Bay Area told me that he “used to tell sellers to remodel their kitchens, update flooring, repaint walls, and spruce up landscaping before listing […]Read More

Still No Housing Bubble – Because Rates Are 3% Lower Than In 2006!

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MBS HIGHWAY HITS HOUSING BUBBLE AGAIN Barry Habib, Founder of the MBS Highway, hates it when the media spreads irrational fear about a housing bubble. He also shares marketing materials that subscribers to his content are allowed to share without attribution to him, but that is anathema to me. Below is a script he recently […]Read More

Why CA Is So “Hot;” Median Home Prices

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MEDIAN HOME PRICES If the CA housing market was not appreciating at all, but every buyer suddenly decided they would only buy 4,000 square foot, $1 million homes in 2021 after only buying 2,000 square foot, $500,000 homes in 2020, the median home price would double. And this would lead many people to mistakenly believe […]Read More

Why Now Is The Best Time to Buy – Again; Home Prices 8.45% LOWER In January

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We beat this dead horse all too often but am beating it again because it is excellent information to share with potential buyers who may be on the homebuying sidelines for a variety of reasons. Mansion Global recently published a column titled With Recession Fears Diminished, January Is a Smart Time to Buy. Here are […]Read More

Why Higher Rates Don’t Hurt Home Prices

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“When rates go up, home prices will crash!” We have all heard similar statements numerous times, but they are not true. While higher rates increase mortgage payments and decrease qualifying amounts, they do not depress home prices according to the podcast. TWO REASONS WHY HIGHER RATES DON’T HURT HOME PRICES: 1. More Demand: Higher rates […]Read More