⚠️Real Estate Ruins: Offices and REOs
Profit from Real Estate Carnage
Cook County, Illinois, grabbed the crown for the most foreclosures, with Florida, Ohio, and other parts of Illinois close behind.
If you’re into bargain hunting and don’t mind a side of chaos, these are your prime real estate destinations.
Over in Washington D.C., even the Federal Reserve slashing rates can’t save their empty office buildings
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Meanwhile, the Fed’s been busy cutting rates like it’s trying to win a popularity contest.
Mortgages are cheaper, but the housing market is still a hot mess.
Buyers aren’t biting, and sellers are left wondering if they missed a memo.
With more homes on the market than we’ve seen in years, and everyone too broke or freaked out to buy, it's a real estate game of musical chairs—except no one wants to play.
In this edition of the AltReports:
💰Foreclosure Focus
🔧 Downtown Dilemma
🔨 Housing Headaches
💵 Financial Fix
🏡Housing Hassles
Video of the Week: Landlords on the Verge of Bankruptcy
Chart of the Week: Commercial Real Estate Delinquency Rates
Podcast of the Week: Why YOUR Small Town Is the Best Place to Invest in Real Estate
Top 10 Counties with Greatest Number of REOs in August 2024
In the land of foreclosures, Cook County, Illinois reigns supreme, with Florida, Illinois, and Ohio following closely behind in this grim parade.
If you're hunting for a real estate deal and love a good dumpster fire, these are your dream destinations.
While economic woes and homeowner misery are fueling this foreclosure bonanza, savvy investors might see dollar signs amidst the debris.
Rate Cuts Won’t Save D.C.’s Distressed Offices
Guess what? The Federal Reserve can cut rates all it wants, but D.C.'s office sector is still taking a nosedive faster than your favorite canceled TV show.
With remote work reigning supreme, who needs a desk when your couch is way comfier?
High vacancy rates, low demand, and investors on the brink of panic make this a mess only a true optimist would dive into.
Rate Cuts Make Mortgages Cheaper, But the US Housing Market Is Still a Hot Mess
The Fed just chopped interest rates again, hoping it might spark a home-buying frenzy.
Spoiler alert: even if buyers come crawling out of the woodwork, they’re going to run headfirst into the same old problems—there’s just not enough homes to go around.
So, while rates might be lower, don’t expect to find your dream home anytime soon. It's a housing market whack-a-mole, and right now, the moles are winning.
Fed’s 50 Basis Point Cut: Aggressive Move or Front-Loaded Relief?
The market’s torn—some say this is a much-needed shot in the arm, while others are eyeing the exits, fearing it’s a sign of worse things to come.
The Fed’s all-in, making sure everyone knows they're serious about averting disaster.
But only time will tell if this bold move is genius or just a band-aid on a bullet wound.
Demand for Existing Homes Wilts, Supply Spikes to Highest for any August since 2018
August 2024 saw home buyers vanish faster than ice cream on a hot day, while the number of homes for sale skyrocketed to a level not seen since 2018.
You’d think lower mortgage rates would get people excited, but nope—they’re either too scared or too broke to buy.
With prices dipping, it might seem like a good time to snag a deal.
But between consumer jitters and the economy’s general weirdness, buyers are sitting this one out, leaving sellers to wonder what went wrong.