Housing s bubble bursts — again What did we learn HEAD TOPICS
Housing s bubble bursts — again What did we learn
10/22/2022 10:20:00 PM Housing s bubble bursts — again What did we learn
Source L A Daily News
Housing s bubble bursts — again What did we learn Let’s look at what the housing market taught us recently, noting some early clues of trouble that you might have missed. The warning was dismissed, shrugged off as overstating the market’s modest risks. Even the report said the “fear-of-missing-out wave of exuberance” wouldn’t be a repeat of the bubble-bursting crash of the 2000s.Be careful what you wish for.Lockdowns forced home touring to go virtual. That change greatly enhanced a house hunter’s ability to screen ownership possibilities with a few clicks. So we now have a more efficient marketplace. The pandemic limited how many homes listed for sale were found in traditional listing databases..The very first Bubble Watch in May 2018 dismissed worries that weak new-home sales data was a bad omen. Why?And there’s another giant hole in knowledge — mom-and-pop landlords. We know almost nothing about that half of the rental market. Read more:
L.A. Daily News » WhatsApp Lets You Ghost Your Group Chats Silently HackerNoon On her new album, Taylor Swift lets the cracks show Opinion Journalism's Bad Bargain This App-Assisted Telescope Is Perfect for Amateur Astronomers Biden says it s his intention to run again in 2024 CNN Politics
President Joe Biden said Friday that while he has not made a formal decision about running for reelection in 2024, it is his 'intention' to do so. Read more >> WhatsApp Lets You Ghost Your Group Chats Silently HackerNoonMeta has announced new privacy features for WhatsApp users. Zuckerberg claims these features will help keep WhatsApp messaging private and secure. - by sloggingapp whatsapp slogging On her new album, Taylor Swift lets the cracks show'Midnights' finds the megastar in vulnerable moments of sorrow, anxiety and romance. Opinion Journalism's Bad Bargain'As with other public goods like parks and libraries, high-quality local journalism requires public funding, and these funds need to be specifically targeted to invest in local reporting.' 😛😜🙁🤬🤑🖕🏾🖕🖕🏼NEWSPAPERS ARE OFFICIALLY DEADTHE USA IS A CORPORATE MILITARY POLICE STATE🤬🤬🤬🤬WE ALL LIVE IN BONDAGE TO 🖕PRIVATE CORPORATE POWER🖕🏾😃the largest newspaper company in the USA is owned by Japan😛😜🤬INSANE This App-Assisted Telescope Is Perfect for Amateur AstronomersWIRED Great optics. Excellent companion app simplifies celestial navigation. Solid mount with handle for easy carrying. Solid line of accessories allows you to expand the capabilities. TIRED It's big. Make sure you have room. ‘Black Adam’ review: The Rock goes bad — mostly for goodBlack Adam lets Dwayne “The Rock“ Johnson make his long-awaited superhero debut in an action flick that reflects the scrappy spirit of the DCEU. Instagram expands its blocking and adds other safety updates Digital TrendsInstagram has announced three new safety feature updates and one of them lets you block people and more of their backup accounts. When somebody important says “bubble,” take it seriously.@SLOGGING 'S EXPERTISE AND PLACE ON THE INTERNET..record-breaking season for midterm political-ad spending. In March 2022, researchers at the Federal Reserve Bank’s Dallas branch released a report saying ”house prices appear increasingly out of step with fundamentals.” The warning was dismissed, shrugged off as overstating the market’s modest risks. From now on, users can leave group chats silently, control who can see their online status and block screenshots on View Once messages. Even the report said the “fear-of-missing-out wave of exuberance” wouldn’t be a repeat of the bubble-bursting crash of the 2000s. But report author Enrique Martínez-García : “This might be a housing bubble. In this Sloggin thread, our community discusses these and other new feature releases and how they will impact human and app interaction. The evidence suggests it looks like a housing bubble. The interest this second camp has in the JCPA is less about journalism than it is about reining in Big Tech. A little bit like a duck. Aug 15, 2022, 4:19 PM WhatsApp: Mark Zuckerberg reveals new privacy features https://www. It walks like a duck, it looks like a duck, it certainly might be a duck.” Click power: Be careful what you wish for.com/news/technology-62464243 "Meta has announced new privacy features for WhatsApp users. Nobody enjoyed running around town shopping for homes. Online home searches dramatically improved the house hunt . Meta chief executive Mark Zuckerberg said this would help keep WhatsApp messaging "as private and secure as face-to-face conversations". Lost in this mix are newsroom workers and the communities that have been hit hardest by the failed economics of news production. Lockdowns forced home touring to go virtual. That change greatly enhanced a house hunter’s ability to screen ownership possibilities with a few clicks." Leave silently: "With the recent changes, users will be able to leave without notifying the other group chat users, only alerting group administrators. So we now have a more efficient marketplace. But efficiency cuts many ways, including pricing. "We believe WhatsApp is the most secure place to have a private conversation," she said. So expect faster ups and downs. In a strategic sleight of hand, the large news-media companies want us to conflate the public importance of local journalism with their own bottom lines. And that change is permanent change." The update will also see users given the option to allow only certain contacts - or no-one - to see when they are active on the platform, bringing online status options into alignment with "last seen" settings. Slippery supply Are speedy sales just buyer enthusiasm or business performing better? The pandemic limited how many homes listed for sale were found in traditional listing databases. Thanks to better technology, owners no longer need to put a home on the market to get pricing research. You already have the option to block your status to everyone, which is already pretty cool. Computer-aided valuation models will give you a solid guess. So supply is now dominated by serious sellers. Sara Pinto Aug 17, 2022, 10:57 AM But I really don't see the need to leave group chats silently. While they once dominated the distribution of news and information in local markets, news chains were reluctant or slow to adapt to a digital world that opened up audiences to numerous other ways to engage with information, newsworthy or otherwise. Historical high levels of listings seen years ago won’t be easily replicated . The resulting short time between a listing and a sale seems more about improved logistics than increased buyer desires. Mónica Freitas Aug 19, 2022, 12:38 PM Sara Pinto, though I'm not a big Whatsapp user, I agree that it's a great platform for conversations privacy-wise. Poor data: Let’s be honest. We’re all guessing. I love this new feature. The very first Bubble Watch in May 2018 dismissed worries that weak new-home sales data was a bad omen. Why? . Before, we'd have to deal with people coming up asking for a justification. Housing data is far from perfect. Most benchmarks track only slices of supply, demand, sales or pricing. And it makes a much cleaner message layout without all the left chat notifications clogging. Who’s buying? Who’s selling? Are they homeowners, investors or second homes? We only have rough guesses. And there’s another giant hole in knowledge — mom-and-pop landlords. Sara Pinto Aug 23, 2022, 11:03 AM Mónica Freitas, I think it brings more trouble. We know almost nothing about that half of the rental market. So digest any analysis — even from yours truly — by noting the statistical shortcomings. Sara Pinto Aug 23, 2022, 11:04 AM For me, it would be more awkward to think I'm talking to someone and that person is no longer there. The 5% barrier The tipping point was in the rear-view mirror. In 2018-19, mortgage rates neared 5%. At least, that's what has always been like for me. In 2018, the Fed worried about a hot economy and went into rate-hike mode. The next year, the Fed admitted to overreacting and reversed its rate policy. Mónica Freitas Aug 23, 2022, 1:02 PM Another recent update, this time on Snapchat, has been an improvement in child safety measures by letting parents have more control over what kids are doing. This period foreshadowed the housing market’s struggles with rates at 5% or higher. And that Fed flip-flop may have led some folks to believe the central bank wouldn’t aggressively fight 2022’s inflation woes. This is something that I find more troublesome. Building blocks: Builders may be a small niche of sales, but they’re definitely worth watching. In January 2022, a widely watched monthly survey of builder sentiment turned negative. And though I understand we may want to preserve a bit of privacy, how much room should we leave for it when it comes to children?! Sara Pinto Aug 26, 2022, 10:58 AM Mónica Freitas so, what can parents control in this new update? I don't have kids, so I'm unsure where I stand. It has since fallen every month in 2022 . CEOs see sales cancellations, declining foot traffic at projects and a need to discount. On the other hand, kids also have to right to enjoy these apps and have privacy. The builders’ trade group says we’re in a “housing recession.” Fed follies Don’t trust the central bank … but you can’t ignore it. Where should the line be drawn? Sara Pinto Aug 26, 2022, 10:58 AM I guess it all depends on what type of control they give parents, and also how they act with it. In 2005, then-Fed chairman Alan Greenspan told Congress it was only “froth” in bubbly housing markets . The ensuing housing debacle made “froth” a massive understatement. Aug 26, 2022, 2:03 PM Sara Pinto, latest scoop: Whatsapp is also exploring the feature to create subgroups. In the pandemic era, the Fed clearly misread “transitory” price hikes that were actually serious inflation. Meanwhile, the central bank’s hope that historically cheap money would let housing be an economic foundation did work — for a while.. With that track record, who do you want stewarding the economy? Congress? The White House? Or simply the “free” market? 2008: “It’s different this time” is always true. Industry gurus correctly say that 2022’s market is nothing like the mass stupidity of the mid-2000s , when the previous bubble burst.. Yes, mortgage approvals were of laughably poor quality in the early 2000s. When the market lost that boost, it cratered. groups within groups. Yes, the pandemic era’s mortgages were high-quality loans. But they were made at “bargain basement” pricing, thanks to the Fed’s temporary generosity. What's that for?! Mónica Freitas Sep 7, 2022, 2:46 PM Sara Pinto, imagine you have a group chat with all your friend. Housing’s new challenge is recalibrating to “full-priced” financing that’s deeply pruned a house hunter’s buying power. What’s next? The surprising housing swings of the pandemic era should teach humility to any prognosticator. Instead of having different groups, you can add a subgroup to discuss the party. Let my trusty spreadsheet provide a few clues about the future using the California Realtors’ median home price, which. peaked at $900,000 in May. Sara Pinto Sep 8, 2022, 2:30 PM Mónica Freitas, but when creating a subgroup is everyone automatically included, and then the admin has to exclude them, or can members create subgroups without no one outside the subgroup knowing? This is very curious Mónica Freitas Sep 9, 2022, 9:59 AM Sara Pinto, I haven't checked it yet but I assume you'll be able to pick who to add. When the burst bubble in the 2000s, the statewide median tumbled 59% from 2007’s $594,500 high. It took 11 years for a new record price to be set. Not sure if I would be a big fan of this. But the lesser-discussed bubble bursting of the 1990s cut prices by 20% from 1991’s $211,000 peak. A new high wasn’t seen for eight years. I'm not sure how I feel about this either. With history stated, I’ll remind you that “it’s different this time” is always true. To see all Bubble Watch columns, ! Jonathan Lansner is the business columnist for the Southern California News Group. The admin is the admin for a reason. He can be reached at .