Elmashni & Nasr Group

"We mature with the damage, not with the years."

Think" Different" not " Difficult" And remember " Mindset Matters."!

Be carful who you trust, Salt and sugar look the same.

The world you see outside of you, will always be a reflection of what you have inside of you.

Raise your word, not your voice.
It is rain that grows flowers, Not Thunder.

A wise man once said:
Don't be afraid to start over again.
This time, You're not starting from scratch.
You're starting from EXPERIENCE.....

Where there is a hope, There's always light.

Sametime life break us in to pieces, In such time.
REPAIR YOURSELF WITH GOLDEN QUALITIES LIFE SELF LOVE, COMPASSION AND PATIENCE.

How times have changed

Imagine buying a new house for $3,900

Saturday Morning Coffee Memo

Did you know?

SAN JOSE — Google is planning several “Creekside Socials” at locations within the footprint of the tech titan’s proposed mixed-use transit village near Diridon Station in a push to create vibrant activity in downtown San Jose and the project site.
Google also believes the series of social events on the western edges of San Jose’s urban core will serve as a reminder that the company plans to push ahead with its Downtown West project there despite the search giant reassessing the development timeline and pausing much of the work on the new neighborhood, which is expected to include offices, housing, shops, restaurants and more!...

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CALIFORNIA HOME PRICES RECORD FIRST YEAR-OVER-YEAR UPTICK SINCE OCTOBER!...
by Phil Hall | Aug 17, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive | 0 comments

California’s median home price exceeded $800,000 in July for the fourth straight month and recorded its first year-over-year gain in nine months, according to new data from the California Association of Realtors (CAR).
The statewide median price was $832,340 last month, a slight 0.7% decline from June’s $838,260 and a scant 0.2% uptick from a revised $830,870 one year ago!...

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COMMERCIAL/MULTIFAMILY MORTGAGE ORIGINATIONS DOWN 53% FROM LAST YEAR!...
by Phil Hall | Aug 16, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive | 0 comments

Second quarter commercial and multifamily mortgage loan originations sank by 53% from one year ago, according to new data from the Mortgage Bankers Association (MBA). However, the originations level was up 23% from the previous quarter!...🤔

These are the 5 highest effective property tax rates on a median-value home in 2022!...
The average effective tax rate for median-value homes was 1.32% in 2022.These are the 5 highest effective property tax rates on a median-value home in 2022:
Detroit: 3.21%Newark,
New Jersey: 3.20%Aurora,
Illinois: 3.04%Bridgeport,
Connecticut: 3.04%Portland,
Oregon: 2.59%.....
But let's not forget: 3% on a $300,000 home is a lot less than 1.5% on a $750,000 home..... Some of these areas deliver a lot more home for the money than others, but have to provide similar cost services!..

(CNBC)

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PALO ALTO — A mystery investor has paid about $20 million for big chunks of hilly land in the Palo Alto area that had been owned by the late John Arrillaga, a Silicon Valley real estate legend.
The buyer operated through an affiliate called Fierce Sunrise LLC to purchase the property, according to documents filed on Aug. 23 with the Santa Clara County Recorder’s Office.
Fierce Sunrise paid about $20.7 million for eight parcels, which are along a private road called Tierra Arboles in Palo Alto, the county real estate records show.
For numerous years, the property had been owned by Arrillaga, a long-time real estate executive who during his career became one of the Bay Area’s most successful and savvy developers with a list of tenants, including Google and Apple, that read like a who’s who of Silicon Valley corporate royalty!...

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Safety & Crime

AI Firefighting Tools Expand In The Bay Area!...
New AI sensors being placed around Santa Clara County are designed to help alert firefighters to potential wildfires near watersheds.

By Dan Walters, CalMatters
SAN JOSE, CA — The use of artificial intelligence has spread like wildfire into the world of fire prevention in Santa Clara County.
County officials are implementing AI sensors to analyze air temperature and particles in the air to locate fires and prevent larger ones from igniting.
This comes as experts throughout the county have been looking at ways to prevent and contain wildfires. In 2023 alone, the state has seen more than 4,700 wildfires, according to Cal Fire!...

Saturday Coffee Memo

DID YOU KNOW?

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News
5 US cities where more than half the homes for sale cost over $1 million—4 Are in California!...
By Kamaron McNair, CNBC • Published July 11, 2023 • Updated on July 11, 2023 at 5:11 pm

5 U.S. Cities Where More Than Half the Homes for Sale Cost Over $1 Million—4 Are in California
Home prices have been on the rise throughout the first half of 2023, often leaving would-be buyers desperate to see more inventory in their price range.
To prospective buyers, it might seem like every other house listed on Zillow has a seven-figure price tag. Depending on where you're searching, that may actually be the case.
In Los Angeles, San Francisco, San Jose, San Diego and Boston, over half of the homes for sale are listed at over $1 million according to recent analysis by real estate website Point2.
Point2's report looked at home listings in 30 of the largest U.S. markets among the 100 most populous cities in the U.S., with at least 500,000 people to see which cities have the highest proportions of homes with million-dollar price tags.
Perhaps unsurprisingly, California cities take the top four spots!...
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DEVELOPMENT REAL ESTATE
How a developer plans to bypass San Jose building requirements!...
by Joseph Geha JULY 13, 2023

The San Jose Swim and Racquet Club on Pedro Street may be demolished to make way for housing. Photo by Joseph Geha.
A Denver-based developer is using a controversial tool to force through plans to demolish a nearly seven-decade-old swim and tennis club in San Jose to make way for housing.
After facing pushback from city staff last year over its initial plans to raze the San Jose Swim and Racquet Club near Willow Glen to build 75 townhomes, The True Life Companies is taking a different tack.
The developer has submitted a permit application under the state’s “builder’s remedy,” a label referring to a provision in state housing law which lets developers bypass local planning processes under certain conditions.
Worried residents and patrons started an online petition in hopes of saving the beloved, aging facility located at 1170 Pedro St!...
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hoodline . San Jose News Categories
While SF Sees Falling Home Prices, Santa Clara County's Real Estate Booms With Record Assessment Roll!...

By Nina Singh-Hudson - Published on July 05, 2023.

San Jose
While homeowners in the San Francisco Bay Area are enjoying an unsolicited property tax cut due to falling home prices, Santa Clara County is singing a different tune as its real estate reaches new heights with a record $661.2 billion assessment roll for 2023-23, according to the Silicon Valley Business Journal.
This impressive 6.65% increase from the previous year is attributed to changes in property ownership adding a staggering $21.5 billion in assessment value, and new construction adding another $6.8 billion, as reported by County Assessor Larry Stone's office.
Meanwhile, the rest of the San Francisco Bay Area has experienced a decline, prompting automatic property tax cuts for homeowners in Alameda, Contra Costa, and San Mateo!...🤔
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Is this a good time to sale??
RESIDENTIAL SAN FRANCISCO
South Bay reports biggest home inventory drop in the nation!...
Active listings, new listings both down by over a third in San Jose market

New data showing that San Jose had the biggest listings drop in the nation matches what Bay Area agents are saying anecdotally about the lack of inventory. And that the drop in supply will keep prices from dipping too much lower, with a possible turnaround on the horizon. Active listings and new listings were both down by over a third in the San Jose metro market year-over-year, according to data from Realtor. com’s May report. Inventory in the San Francisco metro, which includes the East Bay, fell by closer to a quarter, according to the report!...
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Over 20% of all cars on the roads in Norway are now EV!...

In Norway, the sale of new electric cars has gone from 3% in 2012, to almost 80% in 2022.
Over 20% of all cars on the roads in Norway are now EV.
Gasoline use has fallen 37% since 2013. However, diesel consumption - that fuels the trucking industry - is just 10% below its 2015 peak.
Oil will likely remain a notable power source for many decades. Oil has gone from having no competition — other than gas at the margins — and being king in transport, to suddenly facing competition from nuclear, coal, water, wind, solar, etc. Norway is the biggest supplier of natural gas to Europe!...

(Bloomberg)

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Staffing this massive manufacturing revolution will be a huge challenge?!...
US States that will be the biggest beneficiaries of the EV trend are Texas, Nevada and ....Kentucky:
Each will be manufacturing over 100 GWh in commissioned, under-construction and announced plants for Battery Cell Manufacturing Activity.
These areas - as well as Tennessee, Michigan, California, Kansas, Georgia and Ohio will likely experience jobs growth and new housing demand. Manufacturing skills education is bound to soar too.
C manufacturing revolution will be a huge challenge!...

Saturday Coffee Memo

DID YOU KNOW?
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$1.50 bridge toll hike? Bay Area drivers could be on the hook to help bail out BART and other transit!...
NEWS >TRANSPORTATION >News
Proposal would raise Bay Area bridge tolls to aid BART
Vehicles move through the toll plaza of the San Francisco-Oakland Bay Bridge on Monday, June 26, 2023, in Oakland, Calif. Lawmakers are proposing a temporary toll increase that would hike tolls over most bridges $1.50 to help bail out BART and other regional transit agencies struggling to recover from the pandemic. If approved, it would raise tolls on the affected bridges from $7 to $8.50. (Aric Crabb/Bay Area News Group)

By JOHN WOOLFOLK | [email protected] | Bay Area News Group
PUBLISHED: June 26, 2023 at 11:28 a.m. | UPDATED: June 26, 2023 at 6:05 p.m.
Bay Area drivers could soon be on the hook to help bail out BART and other regional transit agencies struggling to recover from the pandemic under a bill state lawmakers announced Monday that would hike tolls over most bridges by $1.50.
The proposal comes amid optimism among lawmakers that Gov. Gavin Newsom will accept basic terms of a short-term statewide transit bailout in the upcoming budget expected to be finalized this week.
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Maximize Your Opportunities on your real estate investment!...
what are the benefits of the real estate investment?
Real estate investment provides long-term appreciation potential, generating consistent cash flow through rental income. It offers tax advantages, diversifies investment portfolios, and provides a tangible asset.
Ultimately, real estate investment offers a combination of potential financial growth, passive income, and tangible assets, making it an attractive option for investors seeking both stability and potential returns.
It's important to note that real estate investment involves risks, and thorough research, due diligence, and careful financial planning are necessary to maximize the potential benefits. Consulting with professionals in the field, such as real estate agents or financial advisors, can provide valuable insights specific to your investment goals.

Let's Talk!...

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REAL ESTATE
Home Price Index!...
The S&P CoreLogic Case-Shiller National Home Price Index, which measures home prices across the nation, fell 0.2% in April, compared with a 0.7% annual growth rate the prior month. Prices are now just 2.4% below their June 2022 peak.....which would imply DEFLATION. The Case-Shiller index, which measures repeat-sales data, reports on a two-month delay and reflects a three-month moving average. Homes usually go under contract a month or two before they close, so the April data is based on purchase decisions made early this year or late last year. Important to note how we are almost in July and the FED is looking at data from APRIL! Meanwhile, sales of newly built single family-homes were at a seasonally adjusted rate of 763,000 during May 2023 — 20% higher than the levels seen in May 2022, according to data from the US Census Bureau!...
(CNBC)
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Gen Zers had no desire to work in finance before the economy started tanking. But they’ve since changed their minds for stability and higher pay!...

5Prarthana Prakash, Chloe Berger
Thu, June 29, 2023 at 12:19 PM PDT
Gen Z is just getting started with work. Now between ages 18 and 26, its members have grown up tech-savvy and scarred by events like the Great Recession in 2008 and the COVID-19 pandemic that have shaped how they think about work. Many of them have rejected taking jobs in traditional industries in which their parents worked in favor of more flexible, less linear career paths.
But that may now be shifting. While many Gen Zers are willing to job hop to earn more and explore new paths, some still crave stability from work, especially as they step into a post-pandemic world. That has propelled finance to the most desired industry to work in, according to a recent survey by the CFA Institute, the professional organization that offers certifies financial analysts!...

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Why the Fed decided to pause interest rate hike in June!...
Federal Reserve Chair Jerome Powell expressed that the central bank isn’t done with fighting inflation and could even implement further rate hikes at its upcoming monetary policy meetings starting in July.
Despite the ten interest rate hikes in just over a year, the Federal Reserve Chair said that the economy is still showing stronger than expected growth, a tighter than expected labor market and higher than expected inflation. For more on this topic and why the Fed decided to pause their interest rate hike in June and what to expect for the rest of 2023, please Contact Narbik Karamian.
It may be a good time for homeowners who currently have HELOC’s with balances that carry a high adjustable interest rate to either strategize to pay them off or consider converting into a fixed rate HELOAN before rates on HELOC’s go any higher!...🤔

Narbik Karamian
DRE Lic: 01372576NMLS # 324793
BeneGroup, Inc.
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1950s: Terminology changed from “open to inspection” to “Open House”
Visitors on the patio of Howdy Howard’s Holiday Home in Dallas, TX, during an open house in late 1952. Originally published in the National Real Estate and Building Journal, March 1953. (NAR Archive)

Sunday became the standard open-house day. It’s difficult to pinpoint why, but Heller thinks it might have had to do with “blue laws” that made it illegal to complete a business transaction on Sundays. Therefore, Sunday became the ideal day to show a home and line up a potential buyer but then complete the sale during the rest of the week.

1952: This is the first record of incentives being used to attract buyers to homes.
A Dallas Realtor® selling a model home in a new subdivision offered free soft drinks to visitors and a Cadillac to the lucky buyer. A whopping 30,000 people visited the open house!...

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Air Conditioners cool homes!...

Air Conditioners cool homes, while heating everything outside....Growing middle classes in countries such as India are expected to lift the number of ACs in use to roughly 5.5 billion by 2050 from about 2 billion today, the International Energy Agency estimates.

New technologies are being worked on now to make AC's much more efficient. Separating the cooling and dehumidification functions may be a solution!...

(WSJ)

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DID YOU KNOW?
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Maximize Your Opportunities on your real estate investment!...
How Long Do Homeowners Stay in Their Homes in California?
Homeowners in California typically stay in their homes for an average of 10 years or more.

The state's high housing costs, limited inventory, and competitive markets contribute to longer homeownership tenure. Additionally, factors such as economic stability, job opportunities, and the desirable lifestyle in California influence homeowners' decision to stay in their homes for an extended period.

However, individual circumstances, personal preferences, and life events can also impact homeownership tenure.

To obtain the most accurate and current information, consulting local real estate market reports or speaking with a real estate professional familiar with the area is recommended.

Let's Talk!...

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REAL ESTATE
Looking to buy median-priced home in Bay Area? You'll need yearly income above $400K!...
Less than a quarter of U.S. homes are affordable for the typical buyer, study shows
by Silicon Valley Association of Realtors / Palo Alto Weekly

Homebuyers need to earn more than $400,000 annually to afford the purchase of a median-priced home in Santa Clara and San Mateo counties. Embarcadero Media file photo.
June is National Homeownership Month, when Realtors promote the benefits of homeownership.

"When more people own homes, everyone benefits," said Jim Hamilton, president of the Silicon Valley Association of Realtors.

"Homeowners get involved in community activities such as volunteering and participating in community events. This gives them a sense of belonging more than someone who is renting," Hamilton said!...

America Is Reimagining Its Parking. But Don’t Count Out Lots Just Yet!...
Abolishing Required Amount of Spaces Could Open Property to Development, Analysts Say

A parking garage in downtown Los Angeles charges $15 to park on a recent weekday. Parking lots around the country are being converted into other, higher-value uses. (Jack Witthaus/CoStar)

By Jack Witthaus CoStar News
June 4, 2023 | 8:31 P.M.
For years, Marc Clear and his architectural team have envisioned sports fields south of downtown Atlanta taking over a patch of asphalt that has long been used for parking.

The principal in the Atlanta office of architecture firm SLAM Collaborative is working with Georgia State University on a new future for the lot next to Center Parc Stadium, the former Atlanta Braves' Turner Field now used for school football games at 755 SE Hank Aaron Drive. Clear led the design of baseball and softball fields that could be built as part of a 68-acre redevelopment including apartments and retail space.

In replacing parking lots, "you're improving the use of the entire site," he said.

Across the country, a glut of spaces has property owners and developers considering redevelopment opportunities for parking lots!...

HOME > HOUSING
US home more than tripled from $126,000 in 1992 to $479,500 by the end of 2022!...
The median sale price for a US home more than tripled from $126,000 in 1992 to $479,500 by the end of 2022.

Were those who bought a home in 1992 with a 30-year fixed rate mortgage told renting is wiser and cheaper?

The average mortgage rate in 1990 was 10.13%, but slowly fell, dipping below 7% to 6.94% in 1998. This equates to HOUSE-flation averaging around 4.5% annually.

PS: Rents have more than doubled in the same period. Even if you HALF home-flation predictions for the next 30 years!... 🤔

(Barron's)
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Lennar Corp. Posts More Multifamily Losses, Sparking Concerns of US Apartment Overbuilding!...
Builder Expects Weaker Results in That Business Next Quarter As Industry Completes More Construction.

By Parimal M. Rohit
CoStar News
June 15, 2023 | 3:23 P.M.

Lennar Corp., one of the nation's largest homebuilders, expects its losses to continue in the coming months in the multifamily business it shelved plans to spin off last year as a surge of new apartments raises concerns about overbuilding across the country.
Miami-based Lennar reported an operating loss of about $8 million for its multifamily business in the second quarter compared to a profit of nearly $1 million in the same quarter last year. For the first half of the year, Lennar's multifamily business had a $30 million operating loss, compared to a profit of $6 million the same time last year!...


The U.S. dollar conquered the world. Is it at risk of losing its top spot!...
June 12, 20235:00 AM ET
Heard on Morning Edition

Stacey Vanek Smith

The dollar is not just the currency used in the U.S., it is very much the world's currency. It's been that way for 80 years – but that could change.

Luis Robayo/AFP via Getty Images

You might just think of the dollar as the money in your wallet, the cash you use to buy your morning coffee.

But the dollar is much, much bigger than that.

The dollar is the world's currency: It dominates global business.

Economists call it the "global reserve currency," a fancy title the dollar got about 80 years ago that has brought some pretty serious perks to the U.S. economy.

But could the dollar get knocked off the top spot? There are challengers emerging, and history shows that countries whose currency dominated the globe can fall from that top spot pretty fast ... even over the course of a few days!...

6/15/2023- Mortgage Market Update- Mortgage Rates Move a Bit Lower!...
The Federal Reserve paused its interest rate hike during its FOMC meeting yesterday.
This did not come is a surprise as the Fed has hinted of a pause in its interest rate policy for Wednesday June 14th. Also, both this week and last, jobless claims came in at the highest levels since late 2021. Despite the numbers going down, it is fair to say that claims are at the highest since 2017.
While the outright numbers aren't too troubling, investors are reacting because the data could be an early indication that other labor metrics will soon shift in a more noticeable way. In general, downbeat economic data prompts investors to buy bonds which, in turn, puts downward pressure on rates causing them to go down.
That's exactly what has happened on the past 2 Thursday mornings. In today's case, it was enough to take bonds from slightly weaker territory (i.e. slightly higher rates) to stronger territory (i.e. moderately lower rates). After mortgage rates pushing the high 6% boundary yesterday, the average top tier 30yr fixed rate is back into the mid 6% range.

Saturday Coffee Memo

DID YOU KNOW?
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REAL ESTATE
The shortage of houses is hitting some people and areas harder than others!...
PUBLISHED THU, JUN 8 2023 1:39 PM
EDTUPDATED THU, JUN 8 2023 2:38 PM EDT

Diana Olick


/DIANAOLICK

KEY POINTS:
The supply of homes for sale in the U.S. is about half of what it was in 2019.
The shortage is hitting some buyers more than others, based on income and area.
Far fewer homes are available to people who make $100,000 a year than just a few years ago.

Even in a housing market that has slowed significantly due to rising mortgage rates, the supply of homes for sale is about half of what it was in 2019.The shortage is hitting some buyers more than others.

The popular 30-year fixed mortgage rate hovered in the high-6% range in May. At that level, buyers with an annual income of $100,000, slightly above the national median, could afford a house with a maximum price of about $341,000.

But just 39% of the homes for sale were listed at or below that price point in May, according to a new report Thursday from Realtor.com with the National Association of Realtors!...

(CNBC)

Maximize Your Opportunities on your real estate investment!...

If you’re considering a 1031 exchange, it’s important to speak with a qualified tax advisor to discuss your options and to make sure that you meet all of the requirements.

Whether you should do a 1031 exchange or pay the tax and invest the money in real estate depends on your individual circumstances.

1031 exchanges allow you to defer capital gains taxes when you sell one investment property and reinvest the proceeds into another investment property of equal or greater value.

However, they can be complex and time-consuming, and there are certain restrictions on what types of properties qualify for a 1031 exchange.

Paying the tax and investing the money can be simpler, but you’ll owe taxes on the capital gains. Ultimately, the best option for you will depend on your individual goals and financial situation.

Let's Talk!...

Mortgage rates decreased after a three-week climb!...
This week, interest rates for 30-year fixed conforming loans have come back down to the low to mid 6% range while the 15-year fixed loan is now below 6%.

Demand for HELOAN’s (Fixed rate Home Equity Loans) has gone up now that rates on HELOC’s has increased noticeably!...
Narbik Karamian
DRE Lic: 01372576NMLS # 324793
A Premier Mortgage Brokerage and Real Estate Consulting Firm
Cell: (408) 315-2834 eFax: (408) 351-0888
www.narbik.com
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HOME > HOUSING
House Down Payments Are Cheaper Than Ever, But You Pay the Price in Other Ways
Two major lenders are offering mortgages with a 1% down payments.
VERONIKA BONDARENKO JUN 6, 2023 12:22 PM EDT
People have been arguing about the correct amount to put in as a down payment on a house for decades.

While 20% has long been the conventional number financial advisers recommend for healthy interest payments, rising home prices push many to put in significantly less to lock in that home and start gaining equity as soon as possible.

In 2022, the average down payment put down by Americans was just 6%!...

By WAYNE PARRY
June 6, 2023
New Jersey utilities float solar panels on reservoir, powering water treatment plant!...
2GR5NycESSGOMW3rc5Ec

MILLBURN, N.J. (AP) — New Jersey’s Canoe Brook Water Treatment plant produces 14 millions gallons of drinking water a day.

Each one of those gallons weighs around 8 pounds , so it’s quickly apparent that a large amount of energy is needed to move water from a reservoir to the treatment plant and into the 84,000 homes and businesses that the New Jersey American Water Company serves in the area.

So the water utility partnered with NJR Clean Energy Ventures, the renewable energy subsidiary of the natural gas firm New Jersey Resources, for a solution.

NJR Clean Energy Ventures built a vast array of solar panels, linked them together, and placed them on the surface of the water at Canoe Brook Reservoir.


Most fires are started by human!...

Adversity fuels Appreciation? Yesterday we were reminded again how sometimes it's only when something is taken away from you, that you REALLY appreciate it 10X more when you get it back:

After Wednesday's apocalyptic pollution in New York, things eased up. Clean air is divine!

NOW.....we need to thoroughly explore how so many fires started almost simultaneously in Canada and how this can be prevented in the future.

Most fires are started by human negligence/arsonists and lightning strikes.

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😡😡😡

Over 100 years ago!...
In 1922, Carrier Engineering Corporation installed the first well-designed cooling system for theaters at the Metropolitan Theater in Los Angeles, which pumped cool air through higher vents for better humidity control and comfort throughout the building!...

🤔🤔🤔🤔🤔

Saturday Coffee Memo

Did you know?

Home Buyers Are Eager but Sellers Are Scarce, Creating ‘Real Gridlock’!...
Homeowners with low-rate mortgages are delaying the decision to sell until market conditions change.

Kyle Ellingson

By Gregory Schmidt

Published April 29, 2023 Updated May 4, 2023
The housing market typically comes to life in spring, when buyers emerge in the warmer weather. This year, the market appears stuck in a deep freeze, and the biggest culprit is a lack of sellers, housing experts say.

There is interest among buyers — mortgage applications were up 10 percent in March from the month before — but the number of homes for sale is low.

The mismatch is caused in part by homeowners who are inclined to sell but are sitting on the sidelines, scared off by the steep prices and mortgage rates that they would face as buyers.
Click to learn more
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5 Cities Where Homebuyers Are Paying Under Asking—and 5 Where Sellers Are Still Raking in a Profit!...

If a home’s list price is the seller’s starting gate and the final purchase price the buyer’s finish line, there’s a multitude to be learned in the distance between them—especially in today’s fraught and ever-elusive real estate market.

You hear an increasingly common mantra from real estate agents across the U.S.: Homes priced right still sell fast—and often for above the listing price.

The emphasis being on the priced right part.

But what that means varies widely in different parts of the nation—as does just how close or far from the original list price homes are selling for right now!...

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A problem for the housing market: People won’t quit their cheap mortgages!...
Fewer homes are available because homeowners are hanging onto coveted rates of 3 or 4 percent

By Rachel Siegel
Homes in Rocklin, Calif., in December. People with cheap mortgages from before the Federal Reserve started raising interest rates are reluctant to sell and give up their low rates, even if they’re ready to move. (David Paul Morris/Bloomberg News)

When Colleen Randall bought her house in 2016 for $174,000, she figured it was the perfect starter home. Then the past few years made the deal even sweeter: She doubled the square footage after redoing her unfinished basement. Now the three-bed, three-bath house in Hagerstown, Md., is worth at least $260,000.

Refinancing in 2020 also lowered her mortgage rate from 3.25 to 2.75 percent and knocked off her private mortgage insurance.

And that’s the problem!...

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A good time to buy a house, according to a Gallup poll!...

Just 21% of U.S. adults say now is a good time to buy a house, according to a Gallup poll, the lowest homebuyer sentiment has ever been in data going back to 1978, when Gallup first asked Americans the question.

It's also the 2nd year in a row that sentiment has hit a new low—in 2022, just 30% of homebuyers thought the housing market was good for buyers. And while that may be true, it's probably still WISEST to buy and own a home!...

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California is building an electric train!...
California is building an electric train that will connect Los Angeles with the Central Valley and then San Francisco in 2 hours and 40 minutes.

15 years later, there is not a single mile of the 382-mile of track laid, and executives involved say there isn’t enough money to finish the project. Estimates suggest it will cost between $88 billion and $128 billion to complete the entire system from LA to San Francisco.

Meanwhile, construction of the 506-mile, $13.5 billion Zhengzhou East-Wangzhou line in China was completed in less than 5 years!...
(CNN/CNBC)
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Which Country Produces the Most of Your Favorite Foods?!...

Not all countries are agriculturally equal, and a handful of places — China, the U.S., India, and Brazil — dominate global food production and exports.

Yet smaller players also contribute to stocking the shelves with our favorite foods, thanks to native plant species, environmental factors, and infrastructure investments.

Take, for instance, Canada’s abundance of lentils or Peru’s booming quinoa industry. Here are 13 foods and their top-producing countries. Do you know where your favorite snack comes from?!...