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What's Ahead for the Housing Market in 2023?

 

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January 15, 2023

Good morning,

The U.S. economy kicked off the new year with some good news that offers hope to the housing market. The latest report on solid job gains, coupled with slower wage growth, calmed down inflation worries and pushed mortgage rates down to nearly 4-month lows. Despite sluggish mortgage activities in December, it's time to put 2022 in the rear-view mirror.

 

If you have any questions regarding our local housing market, please reach out. Have a great weekend!

Information + Updates

Did you know? One of the largest co-living companies in the U.S. - Common - with 4,000 apartments, is merging with a Berlin-based peer - Habyt - with about 7,000 apartments in Europe and Asia to create one of the world’s largest providers of shared apartments for young professionals, Habyt Group. (WSJ)

 

Did you know? Money managers for the ultra-wealthy are eschewing traditional private equity funds and betting directly on upstart companies. That’s according to a new report by Dentons, which found that 63% of family offices use direct investments and an additional 22% are interested in doing so. The law firm surveyed 188 family office respondents from 32 countries for the report.

 

Did you know? Manhattan now has more residents than it did pre-pandemic, with a nearly 4% population hike from January 2018 to October 2022.....(NY POST)

 

Did you know? In the last two weeks, parts of California have received more than 25" of rain, with some areas receiving 35 inches or more, more than the average ANNUAL rainfall total of San Francisco. Miami, Florida gets around 60" of rainfall....in a year! Chicago gets about 39", Austin TX, 35", Boston, MA ,43" and Seattle, 37".....Las Vegas gets 4.2”. While we have had a lot of drizzling rain, I have loved the few crisp and sunny days in-between and those sunset….

Did you know? In today’s economic environment, high net worth individuals are just fine! And spending....lots! Rolls-Royce sold a record number of cars in 2022. Demand for its $500,000 vehicles remained strong, despite recession fears. Rolls-Royce delivered 6,021 cars last year, up 8% over 2021 and the first time the company crossed the 6,000 mark. At around $11,750/flying hour, private jet charters were up 10% compared to 2021. (CNBC)

 

Did you know? The Earth’s protective ozone layer is on track to recover within 4 decades, closing an ozone hole that was first noticed in the 1980s, a United Nations-backed panel of experts announced last week. The findings of the scientific assessment, which is published every 4 years, follow the landmark Montreal Protocol in 1987, which banned the production and consumption of chemicals that eat away at the planet’s ozone layer. The ozone layer in the upper atmosphere protects the Earth from the sun’s ultraviolet radiation, which is linked to skin cancer, eye cataracts, compromised immune systems and agricultural land damage. Greenhouse gas emission rose 1.3% in 2022. The US’s output of crude will reach a record high this year. Natural gas production and exports broke records in 2022. (CNBC/FT)

 

Did you know? APPLE CEO has taken a pay cut of 40% for 2023.........he will still earn just under $50 million and get by..... 😪😂

 

Did you know? Food prices keep rising.....so do many food maker profits: In mid-October, PepsiCo, whose prices for its drinks and chips were up 17% in the 3rd quarter from year-earlier levels, had profits up more than 20%. Coca-Cola's reported profits were up 14% from a year earlier, thanks in large part to price increases. Chipotle Mexican Grill, who raised prices by year-end 2022 nearly 15% higher than a year earlier, reported profits up nearly 26% from a year earlier. Higher costs are mostly passed on to the consumer....until the consumer pushes back. (NY TIMES)

Seal of Approval

Looking for Good Homeowners Insurance??? Look no More...

 

Are you looking for a new company to insure your home because your existing insurance company canceled your coverage or raised your rates with crazy high numbers? Steve and I just left the company we have been using (USAA) for year because we discovered Stuart Jones (a Laguna local and fellow waterpolo parent) who gave us GREAT rates for our home…… Feel free to reach out to Stuart Jones at State Farm, 949-285-7257 or Stu@lagunaagent.net.

 

Here is a little bit about Stu: Stu has been with State Farm for 23 years. He has lived in Laguna Beach with his wife Jennifer and their 4 amazing daughters for the last 12 years. He has been involved with Laguna Beach Little League for over 10 years as a volunteer Manager, Coach and representative on the Little League Board of Directors. He is also a United States Navy Veteran. Stu considers it a privilege to live in one of the most beautiful places on earth and an honor to assist our community with all of their insurance needs.

 

*Please note that I am including this in my email only because we are so happy with Stuart and I am not receiving anything in return, except good service!

Izzy Needs A Home

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Darling Izzy is looking for a new family to call her own. Please spread the word. Izzy is a 5-7 year old terrier mix who loves to chase squeaky balls. She has all of her vaccinations and is a very good dog.

 

If interested, please call Candace at (949) 577-2720

Real Estate News

Mortgage Rates Expected to go Down

 

 

Good news for homebuyers, signs of fading inflation could drive mortgage rates lower as soon as this month.

Read More

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ranging in price from $6,995,000 to $8,995,000.

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Maura Short is known for her strong work ethic, broad industry know-how, and passion for architecture, in addition to her extensive network, confidentiality, and moral code. Combined with her wide-ranging local expertise, all of these assets result in favorable outcomes for both buyers and sellers under her care.
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