Posted on 01/06/2025 2:41:25 PM PST by delta7
Home sales in the US rose to a four-year high after rising 12.1% YoY, according to a new Redfin report. As I stated, we are entered a buyer’s market in May of 2024 in line with the ECM. Gone are the days of bidding wars and skipped inspections. Home inventory has picked up significantly but we are seeing those homes sitting on the market far longer as people simply cannot afford to buy.
Nearly 55% of listed homes have been on the market for over 60 days, a 49.9% increase from last year. The average home takes 43 days to go under contract now, marking the slowest pace since the pre-pandemic era of 2019.
Home prices across the nation as of November 2024 stood at $429,971, which represented a 5.4% YoY increase. The average 30-year mortgage stands at 6.95%, down 4 bps YoY but not enough to attract would-be buyers. The 15-year stands at 6.28%, down 7 bps YoY.
Texas and Florida have the highest rates of homes sitting on the market. The primary reason we are seeing this is a drastic increase in as-is homes in the wake of two hurricanes. Around 57% of homes in Tampa have been sitting on the market for over 60 days. All you need to do is take a look at Zillow or Trulia to see why. People are offloading hurricane-damaged properties that need significant work. It is extremely common to see homes listed with removed drywall or flooring from flood damage. Miami has seen the highest percentage of inventory increases across all metro areas at 63.8%, and although unaffected from the storms, the city has seen a drastic surge in HOA and insurance prices.
“A lot of listings on the market are either stale or uninhabitable. There’s a lot of inventory, but it doesn’t feel like enough,” said Meme Loggins, a Redfin Premier real estate agent. “I explain to sellers that their house will sit on the market if it’s not fairly priced. Homes that are priced well and in good condition are flying off the market in three to five days, but homes that are overpriced can sit for over three months.”
We look to Treasuries to see if there will be a decrease in rates. Again, American real estate cannot be forecast at a national level since there are too many factors at play.
Our computer models indicate that we will see a reversal in trend back to a seller’s market by August 2028. The 2007 high on the Shiller Index was the precise day of the Economic Confidence Model. So far, all the indicators have confirmed that we should have a recessionary trend into 2028 with this turn in the model on this wave.
“the new 15 foot guideline”
Link, please.
Buyer beware! Don’t send your money to this scammer.
Convicted felon having spent 11 years in prison for defrauding investors.
Declared bankruptcy twice after losing his own money trading.
Lost $700 million trading with investors’ money.
Well known over the internet:
Armstrong’s last and strongest bastion seems to be The Free Republic where his user ID is delta7. Preferably, you challenge him when he posts verbatim copies of his blog pages and pats himself on the back. His articles can be found here: delta7 Articles posted in the Free Republic Forum. Please note that he posts other articles as well to not be too obvious.”
https://armstrongecmscam.blogspot.com/p/where-and-how-to-complain.html?m=1
“Please note that Armstrong actually believed in this program back then. He used it for trading and lost USD 700 million with it.”
One would think he would have learned it didn’t work after going bankrupt twice.
One would think he would have learned it didn’t work after going bankrupt twice.I think he had this program written for him after going bankrupt. When you research Armstrong, then eventually everything makes sense - assuming he is a devious actor whose objective is to screw others.
“So far, all the indicators have confirmed that we should have a recessionary trend into 2028 with this turn in the model on this wave.”
Given that Armstrong and you are predicting that a US civil war will start later this month why are worried about recession indicators?
.
Armstrongs Socrates system predicts years ahead.
Plenty of investors, family offices, hedge funds, central banks, governments, etc pay for his service gladly.
What are your investment credentials?
Much he puts out for free.
Sounds like it isn’t for you. That’s OK.
“Armstrongs Socrates system predicts years ahead.”
He predicted gold would hit $5,000 in 2015.
He predicted a global financial collapse would occur in 2015.
He has predicted that a US civil war will start later this month.
He has predicted that the US will split into four new countries in 2026.
Go ahead and post links.
And differentiate between a prediction and his-own opinion of what that might mean.
Thanks.
“Plenty of investors, family offices, hedge funds, central banks, governments, etc pay for his service gladly.”
LOL! A recent blog by him posted by delta7 has him saying he does not take money from governments.
Which of you is telling the truth?
“to the new 15 foot guideline ”
Pleas explain what this means.
Thx
Just ask delta7
Armstrongs Socrates system predicts years ahead."Armstrongs Socrates" has never verifiably predicted anything.
Plenty of investors, family offices, hedge funds, central banks, governments, etc pay for his service gladly.No institutions, family offices, hedge funds, central banks, governments have ever asked for his services, let alone paid for them.
“What are your investment credentials?”
Armstrong’s creditials:
Two bankruptcies when trading with own money
Lost $700 million in bad trades with investors’ money
Eleven years in jail for securities fraud
Securities license revoked
Banned from providing financial advice or associating with financial advisors.
The post by aMorePerfectUnion is eerily similar to a post I saw by delta7!
“If Armstrong actually made such claims, he would be back in jail because he is barred by court order from association with a financial adviser.”
And also barred from providing financial advice. That is why he publicly stated he doesn’t take their money.
He leaves it to his shills to lie.
Stale? LOL. After exploding from 2020-2023. This is a minor correction, thus far.
… and your credentials?
My gosh but your reading comprehension is weak
—> No institutions, family offices, hedge funds, central banks, governments have ever asked for his services,
You error in conflated investment advice with publishing information and educational events.
Armstrong does only the latter.
Now, your credentials?
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