Real Estate News
Lender Meltdown brings you real estate news from the US and the world! We focus on real estate news and insight from the US and from around the world. Information you need to know before making a housing purchase or a real estate investment. We bring you news and information from industry insiders and sources that the mainstream financial media doesn't. Lender Meltdown also has boots on the ground. These "boots on the ground" give us daily and weekly updates of what is going in the field. Our contributors have decades of experience in lending and real estate. That experience gives us the advantage of being able to give information in plain English without all the industry technobabble and industry jargon.
Queens Leads New York In Foreclosures
Queens Leads New York In Mortgage Foreclosures As New York Feels The Pinch Of High Interest Rates And Plummeting Values A PropertyShark report has revealed Queens leads New York in foreclosures again. Foreclosures in the borough have increased 55% compared to the same time as the third 2019 figures. PropertyShark found that foreclosures are up…
Pending Home Sales Are Down 31% From Last Year
Pending Home Sales Are Down 31% From Last Year. Economists Go Into Panic Mode As Sales Are Worse Than They Predicted The National Association of Realtors says pending home sales continued to plummet in September. Market indicators show a 10.2% month-over-month decline that resulted in an index reading of 79.5. This is the fourth consecutive…
Clear Capital Is Cutting 27 Percent Of Its Workforce
Clear Capital Is Terminating 378 Employees Including 108 In California By Christmas. This Equals 27% Of Its Workforce Techcrunch.com is reporting Nevada based Clear Capital is cutting 27% of its workforce. Clear Capital is one of the biggest real estate valuation and technology firm in the US. The company is also including 108 employees in…
Home Flippers See Fortunes Plummet As Mortgage Rates Jump
Home Flippers See Homes Turn Into Money Pits As Interest Rates Skyrocket And Housing Market Plummets Home flippers have gone into panic mode. Why? They are the latest victims of rising mortgage rates. As result, they have seen their anticipated profits vanish. Home flippers were raking in the dough just months ago. However, they have…
Average Home Prices Are Plummeting Like It’s 2009
Average Home Prices Are Now Plummeting. Prices Are Posting The Biggest Monthly Declines Since The 2008 Financial Crisis Black Knight is reporting that home prices are now posting the biggest monthly declines since the 2008 financial crisis. Median home prices in August fell 0.98%, only slightly better than July’s 1.05% monthly decline. The average home…
Realtor.com Starts Employee Layoffs Ahead Of Market Downturn
News Corp. Begins Employee Layoffs At Realtor.com In Preparation For A Downturn In The Market News Corp’s Realtor.com has become the latest real estate company to downsize. A Realtor.com spokesperson declined to share specifics of the layoffs. They also refused to say how many employees and contractors were impacted. However, the company said they are…
Secret Compass Layoffs Are Coming By October
Former Compass Insider Says That More Secret Compass Layoffs Are Coming Before The End Of The 3rd Quarter A few days ago, Zoe Rosenberg of Business Insider sat down with a former insider at Compass. The former employee told her that more secret Compass layoffs are coming before the end of the third quarter. Compass…
Fannie Mae Predicts Dark Days Ahead For The Housing Market
Fannie Mae Predicts Dark Days Ahead As They Predict Home Sales To Drop 16.2% By The End Of The Year Fannie Mae predicts things will get worse for the housing market and mortgage industry before it gets better. A group of economists at Fannie Mae slashed their forecast for 2022 home sales this week. Fannie Mae’s…
Homebuyers Are Canceling Purchase Deals At Record Pace
Homebuyers Are Canceling Deals At A Record Pace Due To Housing Affordability Issues Home buyers are canceling sales at record pace. Prospective homebuyers are grappling with affordability issues. However, a Redfin report states the shifting market conditions are allowing buyers to increase their bargaining power. Roughly 63,000 deal under contract fell through in July nationwide….
Mortgage Applications Plummet To 22-Year Low
Mortgage Applications Plummet To 22-Year Low As Home Sales Drop 14% From A Year Ago. Mortgage applications have hit a 22-year low demand for homes is drying up. This is due to raising interest rates soar and plunging home sales. The lending industry is pointing the finger at the Federal Reserve‘s interest rate hikes. The…