Ag with kids said:

---

45-70Ag said:

---

Worst word in the English language………vacay.

---

What about a...

staycay

---

Not as bad as vajayjay

woodyhayes said:

---

Try living in an unincorporated beach town. Went from a neat little beach town to beach house str's. and trailers. No joy in living here anymore after working all our lives to afford our "retirement" home at the beach. And it's people from Calif., Austin, Colorado, etc. that are buying everything up for rent houses.

---

Yep, Bolivar is no longer a pleasant place.

Lord have mercy!

3/4s of a million relators flooding the jobmarket?

Millennials and genZers bouta have a worser time.

Everybody became a realtor during Covid. I saw a tweet (can't find it) that said that one million realtors did not do a single deal in 2022. We need less realtors.

Red Pear Realty said:

---

Everybody became a realtor during Covid. I saw a tweet (can't find it) that said that one million realtors did not do a single deal in 2022. We need less realtors.

---

A friend of mine got his real estate license back in 2005 in Los Angeles.

Fun fact he told me then was that the average real estate agent in California sells 0.8 houses a year.

Not a new problem but I'm sure it's worse now.

***Not wishing harm to come to anyone's livelihood***

But where I live, it seems everybody's wife is a dang realtor on the side and they're constantly hustling their 'friend' networks for business. I'll welcome less of that.

Times like these thin the herd and leaves just the best.

I believe that. I just ran numbers for Red Pear for 2023. Our agents averaged 21 deals for the year. So if we are doing 21 per person, and the average for a state is 0.8, that tells you there are a lot of folks sitting around doing nothing, and when they do get a deal, they have no idea what to do with it.

And it's horrible for their clients, but awesome for mine when they have no idea what they're doing, which is way too often.

Red Pear Realty said:

---

Everybody became a realtor during Covid. I saw a tweet (can't find it) that said that one million realtors did not do a single deal in 2022. We need less realtors.

---

fewer

Red Pear Realty said:

---

I believe that. I just ran numbers for Red Pear for 2023. Our agents averaged 21 deals for the year. So if we are doing 21 per person, and t he average for a state is 0.8, that tells you there are a lot of folks sitting around doing nothing, and when they do get a deal, they have no idea what to do with it.

---

I know quite a few people who have their licenses as a side hustle or solely for the intent of thinking they can save a few nickels when they buy/sell their personal residences or rent houses. I wonder how many of those people there are and aren't doing it as a full time vocation.

20% of agents make 80% of the sales. That's who this will really hurt.

I was looking at a house near a lake in central Texas 3 years ago. It was listed at 165K. I called to make an offer on it, but it was already under contract. It has been back on the market 3 times in the last 3 years. It is currently listed for 435K.

Nobody has lived there. Just a trading piece for investors.

I was looking for a place to live for our retirement years.

The investors have made that impossible.

But I'm sure they would be glad to airBNB it to us for a few nights.

UAS Ag said:

---

Red Pear Realty said:

---

Everybody became a realtor during Covid. I saw a tweet (can't find it) that said that one million realtors did not do a single deal in 2022. We need less realtors.

---

fewer

---

Let the market work. Its great at determining supply, demand. compensation, etc

UAS Ag said:

---

Red Pear Realty said:

---

Everybody became a realtor during Covid. I saw a tweet (can't find it) that said that one million realtors did not do a single deal in 2022. We need less realtors.

---

fewer

---

https://imgur.com/a/Lcbjfwe

Red Pear Realty said:

---

I believe that. I just ran numbers for Red Pear for 2023. Our agents averaged 21 deals for the year. So if we are doing 21 per person, and the average for a state is 0.8, that tells you there are a lot of folks sitting around doing nothing, and when they do get a deal, they have no idea what to do with it.

---

That's why when I sold my house in California back in August, I used a friend of mine who has been in the business since 2009 who sold the home of Kirsten Dunst and more recently, Jason Priestley (BH 90210).

My friend knew every trick in the book to maximise the value, minimise my risk and get a quick close that did close and didn't fall out of escrow. I was very happy to throw him $35k because his fee literally paid for itself.

I don't have the patience to read through a bunch of fake menstrual cramps about boomers. Can somebody just wrap this up and let me know if any of this means I can get a good deal on a second home yet?

Party members get first dibs after the Great Reset.

Selling RE is the default contingency plan for many people when they have no other options. I personally know four people who left the company and went into RE. All males by the way. Three of them post on LinkedIn quite a bit and seem to be doing ok, but who really knows. It's LinkedIn. I do know they are the type to hustle and work hard.

That is not to discount realtors who work hard. I know we all bag on it to some degree as something we could do ourselves. But when it comes down to it....f* that. I have better things to do.

Blaming folk with gameday houses now

Stat Monitor Repairman said:

---

Blaming folk with gameday houses now

---

This is worthless without someone getting Ray Childress on the red phone...

Washington-area office building default risk surpasses that in San Francisco
Published Tue, Dec 19, 2023 8:17 am Updated Tue, Dec 19, 2023 6:50 pm

Landlords including Brookfield have defaulted on office loans in the Washington area.

THE Washington area has passed San Francisco for the highest share of office buildings with bank loans at risk of default, as US government employees continue to work remotely.

Loans of concern on offices in the US capital region climbed to 72 per cent in the third quarter, topping San Francisco's 71 per cent, real estate data firm Trepp reported.

The rate for Washington was 38 per cent at the end of 2022.

Seattle is the only other US metro area with more than 50 per cent of "criticised" bank loans, which Trepp defines as backed by properties with high vacancies, expiring leases, maturing debt or other red flags for refinancing or repayment.

San Francisco's office troubles have been blamed on a combination of the high number of tech employees working remotely and concerns about the city's safety and quality of life.

Washington's woes are more protracted because the federal government is slow to respond to changing work patterns, and office demand could soften dramatically if government austerity measures kick in, according to Stephen Buschbom, a research director at Trepp.

"Washington, DC, could be the new ground zero for office distress," Buschbom pointed out.

Response to a return-to-office mandate for the federal government and General Services Administration "has been bleak, and time will tell if they will start to decentralise out of the DC area", Trepp said.

The real estate data firm added: "If remote work is more of a permanent strategy for these government entities, there is a lot of excess inventory that could flood the market."

The office vacancy rate in Washington was 21.1 per cent in Q3, compared with 34 per cent for San Francisco, according to CBRE Group.

https://www.businesstimes.com.sg/property/washington-area-office-default-risk-surpasses-san-francisco

Oh no, the artificial scarcity of housing is crashing. whatever shall we do?

That article is from April and is talking about office, not residential.