The Washington state Supreme Court has upheld the constitutionality of Washington State’s new capital gains tax even though taxes on income violate the state’s constitution. The instead based their opinion on semantics. Supporters called the tax an excise tax, not Read more…
House Bill 1110 would increase density by changing zoning to allow for more duplexes, fourplexes, and other multi-unit housing in Washington cities with more than 25,000 people. This bill has passed the House and is awaiting action in the Senate. Read more…
On Monday night, Council considered updates to the City’s residential rental housing regulations. The original ordinance has been divided into two separate ordinances to garner broader Council support. Ordinance C-36330, which passed unanimously: Ordinance C-36366, which passed 5-2: Councilmember Jonathan Read more…
The U.S. Census Bureau released the net domestic migration data for 2022, indicating the number of people moving in and out of each state. Fewer and fewer people each year are migrating between states. There was much more migration earlier, Read more…
A recent report from Redfin states that bidding wars have returned in several crucial housing markets, which is a positive sign for home sellers. Despite the deep decline in homebuyer numbers in November, mortgage rates have come down to just Read more…
I have been thinking about retiring early. I have decent cash flow from my rental properties, and a decent net worth. I am several years away from social security and Medicare eligibility though. A big fear of many people who Read more…
Goldman Sachs is predicting that home values will worsen through 2023 due to continued high interest rates. They predict that San Jose, California; San Diego, California; Austin, Texas; and Phoenix, Arizona will suffer the most drastic decreases, more than 25%, Read more…
This is going to end badly. JP Morgan and Haven Realty Capital are planning to spend one billion dollars on rental properties across the U.S., starting with 250 homes in the Atlanta area. They are on their way to becoming Read more…
While real estate prices decline in the U.S., they are also beginning to decline in the U.K. Many countries around the world are suffering from high inflation. The Federal Reserve has increased interest rates quicker than other countries, so the Read more…
In a previous post, I warned against relying on income from short term rentals. I was correct to make this warning. Now, Time Magazine is reporting that too many rich people bought Airbnbs. Now many are sitting empty. Short-term rental Read more…
Home builder confidence declined for a tenth month in a row in October. Climbing interest rates continue to weaken demand for real estate. Economists are warning that prices may be on the brink of collapse, according to the National Association Read more…
As interest rates go up, the fortunes of tech companies fall. Money chases higher yields. When interest rates are near zero, investors can gamble in tech companies that aren’t yet turning a profit and can hope they found a unicorn. Read more…
The pandemic lead to more people being allowed to work from home. While many companies are trying to pull people back into the office, many are allowing some flexibility. Something like 35% of people are now able to work from Read more…
Ingo Winzer of Local Market Monitor has performed real estate analysis for more than 20 years and his predictions are, in my experience, better than those of financial media. In 2005, he warned that many housing markets were dangerously over-priced. Read more…
When interest rates go down, real estate values go up even if incomes are flat. This is because buyers look at cost in terms of monthly payments. At the beginning of this year, mortgage interest rates for a 30 year Read more…