this Week in Real Estate

In this action-packed episode of tWiRE, we dive deep into the real estate headlines making waves and the underlying forces shaping today's housing landscape. Strap in as we break down the hard-hitting news and dissect the data!

🏛️ Courtroom Chronicles: Gary Keller and Bob Goldberg step into the spotlight in the Sitzer | Burnett NAR Real Estate Commission Lawsuit. What twists and turns await? 📜

💰 Mortgage Mayhem: Mortgage demand takes a nosedive to 1995 levels as interest rates loom large near 8%! How are buyers and the market responding? 📉 September's Inflation Report: A game changer for mortgage rates, or just another data point? We unpack the implications! 🔍

🏠 The Homebuyer's Hurdle: The financial bar rises: A $115k salary now needed to clinch the typical U.S. home. With this figure towering over the average American income, we explore the widening gap! 🚀

📊 Market Metrics: Listings surge, but cautious buyers dominate the narrative. We cut through the noise to uncover the trends! 🧐 Dwindling confidence? Homebuilder sentiment nosedives to a 10-month low amid soaring mortgage rates. What's on the horizon? 🏗️ A beacon of resilience: Housing starts rally in September, defying mortgage rate pressures. We delve into the driving factors! 🚀

📊 Market Metrics: Listings surge, but cautious buyers dominate the narrative. We cut through the noise to uncover the trends! 🧐 Dwindling confidence? Homebuilder sentiment nosedives to a 10-month low amid soaring mortgage rates. What's on the horizon? 🏗️ A beacon of resilience: Housing starts rally in September, defying mortgage rate pressures. We delve into the driving factors! 🚀

📆 Tune In: Subscribe, hit the notification bell, and get ready for a deep dive into the heart of real estate!

Redfin leaves NAR, Anywhere no longer requires their agents to be part of NAR, RE/Max piles on and does the same... what does the future hold for the professional trade organization? Many agents are questioning the value proposition that the real estate organization provides. Plus, rent rates flatten which is good news for renters but bad news for investors. The jobs report is pushing rates up and the adjustable rate mortgage demand spiked. Is this a sign of the future downfall and housing crash?

Mortgage demand drops to the lowest level sine 1996!! YIKES! Applications are being rejectred due to Insufficient Income & Sellers are dropping their prices. Insurance Premiums are going up and even Tump's estate hits hard times. We will also dive into the industry tea with Redfin leaving NAR, updates on the DOJ Lawsuit and Exp finds a strange bedfellow in Opendoor. Will Homes.com finally take over Zillow??

Hold onto your hats, folks! This week on tWiRE, we're pulling back the curtain to reveal what agents aren't spilling about the real estate roller coaster! From skyrocketing home prices and plummeting sales, to mortgage rates that won't back down, we're dissecting the headlines and diving deep into the tumultuous tides of the market! 🌊

📈 Market Madness:

Home prices continue to rise despite a sales slowdown! What's driving this paradox? 🏠 Mortgage rates remain stubbornly over 7%! How is this shaping buyer behavior? 💰 The Fed projects prolonged high rates! What repercussions does this hold for the market? 🏦

🚚 Relocation Revolution:

A record share of homebuyers are relocating! But to where? And why? 🌏 1 in 10 home sellers are moving due to a return to the office! We're uncovering the stories behind the stats! 💼

🛠️ Squatter Solutions & Legal Labyrinths:

A handyman's ingenious method to remove squatters! How did he reclaim his mother's house? 🏡 RE/MAX settles for $55M and MV Realty files for bankruptcy amid a storm of lawsuits! We're navigating the legal jungle! ⚖️

💬 Join the Conversation:

We're not just here to talk – we're here to listen! Agents from across the country, share your insights, experiences, and perspectives! Join us live on Clubhouse and drop your comments below! Your voice matters in the tWiRE community! 🗣️

📆 Tune In:

Don't miss out! Join us for unfiltered real estate talk, TODAY at 10 PST / 1 EST! Subscribe, hit the bell, and get ready for a deep dive into the truths that agents aren't telling you about the crash... 🚨

OK Boomer... so it's all your fault? Millennials say that they don't they will EVER afford a home... why? A recent study suggest that the buying habits of the Boomer generation may be in part to blame! Mortgage demand stalls at a level not seen since 1996!! Is this the start of a housing recession?? Will that help the affordability crisis??

Rents keep going up but recent news suggest that they may have peaked as some landlords are offering concessions.

And home prices are still going up but sellers are still skittish. Also we will talk about the MLS cyberattack and the average monthly mortgage payment rising above $2,000!! All of that and MORE on today's show!

Some markets BOOM while other markets BUST, we talk about WHY today! Mortgage rates decrease some, what does that mean for buyers? Are they jumping back in yet? What are buyers waiting on and what is the interest rate that encourages SELLERS to enter the market? New York limits short term rentals and we will talk about details and what that means for Airbnb and VRBO hosts!

Grant Cardone is getting sued by investors who claim they were misled, NAR is getting sued but one of the litigants, Anywhere settled (What does this mean for the case against National Association of Realtors?!) and NAR is standing behind Bob Goldberg while agents rally to see more action.

Are we in a dire situation with high mortgage rates, high interest rates and sky high home prices? Are prices going down anytime soon? Who will make the first move? Sellers or Buyers? Affordability is still a HUGE issue and pending home sales are near recent lows! Today we dive into the data and see exactly what is happening in the market. Join us LIVE!! We also talk about he 10 hottest zip codes for home buyers, Zillow's 1% down payment program and NAR President Kenny Parcell is out with Tracy Kasper IN. What is happening with the National Association of Realtors.

1 in 10 homes are worth $1,000,000 and home prices continue to rise while mortgage demand drops. When will the price increases end?? Is supply actually increasing? Are we still heading for a massive recessions? Experts weigh in and it's something that Gary Keller says he has never seen in his lifetime. PLUS, the final bank pays up from the 2008 housing crash, Scottsdale Arizona bans grass, and we have the rest of the earnings reports with Zillow, Anywhere, eXp, & Real Brokerage. And if you want to know how much NAR is paying their executives or how much NAR spends on advertising, we have that too!

Join us with special guest Olivier Maurice who is with us to talk all about the Canadian housing market!!

Home prices and rates are both at an all time high! Rates are over 7% and the highest they have been in over 21 years! But buyers don't seem to be slowing much. Affordability is at an all time low and mortgage demand is dropping while agents report multiple offers around the county. Will building TALL be the answer or is multifamily a better solution? What's the answer??

Redfin says that the "Clear Cooperation" is failing to stop pocket listings and lawsuits against MV Realty continue to pile up. ALSO, it's earnings seasons. We talk about the earnings reports that we have so far for Q2 of 2023

Zillow and Redfin are teaming up to take builders direct to the consumer while home prices increase and buyers need to earn MORE to buy a home!

What are the metros with the highest single-family rents? What are the lowest?? Lets look at the list.

AND new home sales decline for the first time since February! Uh oh! Mortgage demand drops as interest rates rise and foreign buyers are backing out of the US market. We talk about an entire neighborhood for sale.

And in our "Industry Tea" segment, the Chamber of Commerce is stepping up to the plate for NAR vs the DOJ and Arizona gets a new audio tool!