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It's funny though because you would imagine that most in a business such as construction that relies on lumber would have had months of supply locked in at $x price. They are just using the price increase as an excuse to pass on additional costs to you.

It's like asking someone to predict the stock market...Fed has signaled rate hikes due to inflation. Rates also go up with a "booming" economy because investors rather invest in stocks than bonds. So if there's a good jobs report then typically mortgage bonds go down and interest rates go up...

All these interest rate increases have happened so far without any Fed rate hike yet. Fed has signaled today that they will rate hike. I don't know how high we will go but I'm doubtful that we will be much higher than 4% for primary purchase.

More days of red for bond markets. Many bond tracking sites have swapped to tracking the 3% coupon now instead of the 2.5%. It felt like just yesterday when they went from 2% to 2.5%.

I had an Australian buyer telling me about how new construction works there. Basically you go to a sales office with multiple builders and floor plans. You buy the empty plot and you can pick from 20 or so designs to be built on your plot.

Seeing red in mortgage bonds....red rum red rum....

I'm not a very good economist but wouldn't higher interest rates further drive up rental prices? Since homes are less affordable for renters looking to buy then it drives more demand towards renting...

I think there was a good portion of homeowners using 2nd home loans and short term rentals to skirt investment property occupancy. Whether or not this is significant I don't know but I know it was happening. And yes rates were already at 52W highs during the end of 2021 and it's gone even...

This still won't provide any incentive for current homeowners to sell. If anything it would discourage any movement for 2nd and investment homes as they are currently "locked in" cheaply.

Also mortgage bonds have been a blood bath of late. Down about 130 bps since year end.

Second home and High Balance loans are getting hefty LLPA adjustments for loans sold to FHFA after 4/1/2022. Announcement:https://singlefamily.fanniemae.com/media/30326/display Before and after LLPAs (page 3-4):https://singlefamily.fanniemae.com/media/9391/display Second homes are getting...

Sierra 2X would be pretty nice on one of those larger view lots...

The reason why I moved to Irvine was not specifically schools but rather that the schools were passable. I was previously from Cerritos in an area with 10/10/10 rated elementary/middle/high schools and also access to Whitney High School which at one point was rated #1 in the nation. I think the...

Some CV detached homes have 2 HOAs

I am always shocked but not shocked by these prices at the same time. I know this home very well as I toured it originally with buyers. It couldn't sell for $1.88M back in early 2021. On the market for 60 days or so. Now it gets relisted for $1.96M and sells for $2.16M right away.

Hey you're in this with us! One of us! One of us! Actually yea I mostly like to stay factual and steer clear of opinions on here which I think is best for me ...

It was put on "hold" status not cancelled. Some realtors do this as they are reviewing offers so that they don't get any more agents pestering them to see the home. Some also do it for other reasons like the seller is changing their mind and they are trying to salvage the listing haha.

Not really "retail" but the pop up shop that I mentioned which was supposed to open in July/August 2021 is finally opening "soon" in the Great Park. It was where the old playground was between the tennis and volleyball courts. Basically there will be small retail vendors and food and drinks...

Their new primary residence is even more expensive and larger...I just think they have lots of money  :P

From my FivePoint sources, FivePointX, retail plaza on Ridge Valley, is still slated to happen but just no definitive date yet.