Independent Real Estate Market Analyst. Former: Real Estate Agent, Forbes .com Contributor, Int'l Ag Trade Economist at USDA, Ag Attaché U.S. Embassy in Paris
Arizona, USA
Joined September 2009
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John Wake retweeted
8/ We need to move beyond crude interest rates rises and use fiscal policy more actively. In 2022 Spain capped energy prices and taxed windfall profits, and its central bank found that did far more than rate rises. medium.com/@monetarypolicyin…
"Families are hit twice: at the pump and on their mortgage."
3/ No interest rate set in Threadneedle Street can lower the price of oil. What it can do is make mortgages, rents and business loans dearer. Two-year fixes are already near 6%. Families are hit twice: at the pump and on their mortgage.
thenegotiator.co.uk/news/uk-…
John Wake retweeted
Lowering development charges wont make housing cheaper sadly. But it will make land speculators richer:
biv.com/news/real-estate/hou…
John Wake retweeted
“Ignoring the role of land speculation on housing prices just makes my head explode “. CBC interview with Stephen Quinn
cbc.ca/listen/live-radio/1-9…
John Wake retweeted
Will the new B.C. Conservative gov. also allow foreigners to buy new builds without a surtax?
It was the BC Liberals, consisting of many similar people, who first brought it in.
Offshore capital seeking “safe haven” in a country with the rule of law.
#vanre #bcpoli
Is Arizona more liberal than California?
Since 1988...
• 2 of Arizona governors have been men, and 5 have been women.
• 5 of California governors have been men, and 0 have been women.
John Wake retweeted
Toronto real-estate prices have dropped $360k since the peak.
"Even the sharpest correction in the region’s history has yet to wipe out pandemic gains, though. Prices are back to December 2020... Buyers clearly don’t see this level as a 'deal,'" says @StephenPunwasi.
#vanre #vanpoli
betterdwelling.com/toronto-r…
John Wake retweeted
the Democrats won big but their troubles are only just beginning. The leaders expected to take the top positions - Jeffries and Schumer - are both from NYC. Many in the caucus will be hoping for a fresh start, not the old guard.
John Wake retweeted
Active bank charters: about 8,500 in 2008, about 4,500 now, per FDIC Chairman Travis Hill. New banks formed from 2010 through 2024: 86 in all, fewer than six a year. A country short on banks shouldn't make it harder to become one. From my August paper, Application Pending.
John Wake retweeted
There is a lot of talk about the rise in government spending in Australia.
Tighter spending then requires less taxing (or borrowing, or money creation).
So, what would you cut and why?
I'll start.
NDIS (save $60b)
Tighten age pension (via tighter asset test, looser income test to save $8b)
Childcare subsidies (should be halved to save $8b)
What else?
John Wake retweeted
FET Thursday Throwback:
So, about that "housing shortage"...
Has this phrase become completely empty and meaningless? Or did people always use it as a substitute for "I don't like the current price of homes"
fresheconomicthinking.com/p/…
John Wake retweeted
The biggest ideological divide is not between women and men, or between those who went to college and those who didn't. It's, in fact, between renters and owners. Renters are far more likely to identify as Democrats. Following the blue wave, it would not be surprising to see more of a focus on the plight of renters than homeowners.
John Wake retweeted
Brookfield Walks Away From $600M Downtown LA Tower Over Refinancing Costs
“Brookfield is exiting the property rather than refinance the building’s roughly $360 million loan, which would have required tens of millions in additional costs because of today’s high rates, according to people familiar with the matter
The lender, Apollo-owned Bridge Investment Group, is now working to sell the loan….
Landlords have about $1.8 trillion in debt over the next decade, almost half of which is due between this year and 2028..”
John Wake retweeted
Sekisui House U.S.—America's 8th largest U.S. homebuilder—just did a round of layoffs
That's according to @ResiClub_HQ reporting
Sekisui House is one of the largest foreign owners of U.S. homebuilding operations. The Japanese homebuilding giant significantly expanded its American footprint through its $4.9B acquisition of M.D.C. Holdings, the parent company of Richmond American Homes, in 2024.
John Wake retweeted
2022 was a pretty crazy moment in the US housing market. Prices were soaring across the Sunbelt. In Tampa, a home priced at $1mn in late 2019 was by 2022 priced at over $1.6mn—4x the usual pace of home price growth for that city. And the split between metros was absurd. SF only rose by 21%. This is a snapshot from my visual essay “Housing since 2020”: homeeconomics.us/housing2020
