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Here's What's Happening In The Market, Here’s What This Means For You
Buckle up, America: The Fed plans to sharply boost unemployment
https://www.cbsnews.com/news/fed-interest-rates-unemployment-inflation-layoffs/
Painful signs emerge that Fed is moving too far, too fast with aggressive rate increases. https://finance.yahoo.com/news/column-painful-signs-emerge-fed-203318804.html
Case-Shiller Index Shows U.S. Home Price Gains Continuing to Slow https://www.connectcre.com/stories/case-shiller-index-shows-u-s-home-price-gains-continuing-to-slow/?utm_medium=email&_hsmi=227514260&utm_content=227514260&utm_source=hs_email
Economist: US ‘Housing Recession’ Could Send Prices 20% Lower By Mid-2023
The U.S. housing market stares down an even bigger economic shock—mortgage rates jumps to 7.08%. The highest rate since 2002.
The bad news for mortgage brokers and builders? This housing correction is far from over.
47% jump in Orange County house payments cuts prices 6.6% from their peak. August sales were 31% below a year ago.
https://www.ocregister.com/2022/09/27/47-jump-in-orange-county-house-payments-cuts-prices-5-1-from-their-peak/
San Bernardino County home sales plunge 31%, payments jump 45%. 5th slowest-selling August since 1988.
Jobless claims hit five-month low despite Fed’s efforts to slow labor market.
Home prices are selling for more than 9 times the median income. This is the highest ratio EVER! Yes, more than even what it was in 2006 before the housing bubble burst.
Orange County
List of Closed Sales
Southern California
List of Closed Sales