Always solid points, Steven! I've been watching Santa Ana closely since the ban on STR, and I haven't really seen more than one or two listings that look like former AirBnB's come to market. Personally just flipped mine to a mid term rental (30-180 days) and it's still paying the mortgage for us. I have noticed the desert seems to be offloading a ton of former STRs, but it also got very saturated.. very quickly..
It is fascinating how it does not move the needle. Yes, there are some areas where there at SRTs that have been sold, but they are a major exception to the rule.
Only 12,000 jobs added and 10 yr yield soared lol. So much for a below expectations jobs report=rates coming down. The nuance of the hurricanes and Boeing strike did little to calm fears or uncertainty. It seems like markets tend to over react in one direction or the other depending on sentiment and then correct over time.
Rates have to wait for the result to the election. That is a big part of the volatility. Next month's job's report should be much more accurate without the nuances of the hurricanes and Boeing ( which could be settled today). The FED is still going to go a quarter on Wednesday as planned. There should be a lot better economic reports now that October is done, cyclically not good for rates for the third year in a row.
Always solid points, Steven! I've been watching Santa Ana closely since the ban on STR, and I haven't really seen more than one or two listings that look like former AirBnB's come to market. Personally just flipped mine to a mid term rental (30-180 days) and it's still paying the mortgage for us. I have noticed the desert seems to be offloading a ton of former STRs, but it also got very saturated.. very quickly..
It is fascinating how it does not move the needle. Yes, there are some areas where there at SRTs that have been sold, but they are a major exception to the rule.
Thanks for the update Steven!
You bet!
Only 12,000 jobs added and 10 yr yield soared lol. So much for a below expectations jobs report=rates coming down. The nuance of the hurricanes and Boeing strike did little to calm fears or uncertainty.
It seems like markets tend to over react in one direction or the other depending on sentiment and then correct over time.
Rates have to wait for the result to the election. That is a big part of the volatility. Next month's job's report should be much more accurate without the nuances of the hurricanes and Boeing ( which could be settled today). The FED is still going to go a quarter on Wednesday as planned. There should be a lot better economic reports now that October is done, cyclically not good for rates for the third year in a row.
@ thanks for the response Steven. Appreciate all the work you do
You bet!
Thanks for the update . Steven , sorry for the loss of your mother.
Thank you.
Fact check yo’ self!
LOL
He is a Huckster rich DAD too BAD
A clock is correct twice a day as well.