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THE BASIS POINT

Homebuyers faced bidding wars on 70% of deals in January. Now it’s only 50% of deals.

  Lily Katz (redfin.com)
August 6, 2022
 
 
 

How Brad Pitt’s Fight Club stuntman David Leitch did John Wick then became king of Hollywood action flicks

  Derek Lawrence (theringer.com)
August 6, 2022
 
 
 

MAP: Salary Needed To Buy A Home In 50 U.S. Cities

  Avery Koop (visualcapitalist.com)
August 6, 2022
 
 
 

INGENIUS OR INVASION? Amazon buys Roomba to map your home from within

  Alex Webb (bloomberg.com)
August 5, 2022
 
 
 

NOT A RECESSION: 528k July jobs created matches pre-pandemic Feb 2020 levels, and 3.5% unemployment at 50-year low

  Lydia DePillis (nytimes.com)
August 5, 2022
 
 
 

Home buyers finally seeing deals: “We got a nicer house in a better subdivision for less money”

  Eve Epstein (marketplace.org)
July 28, 2022
 
 
 

U.S. economy (GDP) just contracted second straight quarter, which is the definition of a recession but here’s why recession not “official” yet

  Jeff Cox (cnbc.com)
July 28, 2022
 
 
 

U.S. fintech startup funding down 43%, from $15.2b in 2Q21 to $8.6b in 2Q22 (and lots of other fintech data from CB Insights)

  CB Insights (cbinsights.com)
July 20, 2022
 
 
 

Number of existing U.S. homes that sold in June declined 5th straight month, but homes sold in record-fast 14 days, and median prices rose 124th straight month to record-high of $416k

  Lawrence Yun (nar.realtor)
July 20, 2022
 
 
 

Economic Conditions Must Get Tighter To Break The Back Of Inflation

  Brian Sozzi (finance.yahoo.com)
July 20, 2022
 
 
 
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  • Linkage – Handpicked News

    • The rate of homebuyers facing bidding wars dipped below 50% in June. This is a nice shift toward a more buyer-friendly market. Click the Redfin link to get bidding war rates for your city. (redfin.com)
    • This is a great two-decade overnight success story from The Ringer. Since co-directing 2014’s ‘John Wick,’ stuntman turned director Leitch has revamped what action movies look like with megastars like Pitt, Theron, Reynolds, Statham, and The Rock. (theringer.com)
    • Check out this Visual Capitalist map of median salaries needed to buy median priced homes in 50 U.S. metro areas. It's a good quick reference but NEVER a substitute for talking to a lender about your actual profile vs. actual home prices in your area. (visualcapitalist.com)
    • Amazon buying Roomba isn’t about selling more vacuums, it’s about mapping your home to sell you more of everything. Genius or diabolical? (bloomberg.com)
    • Fed rate hikes to cool economy are working for GDP but hot job market shows we’re not in recession. (nytimes.com)
    • In some markets, sellers can no longer bet on multiple offers and quick deals, and buyers can afford to be pickier. (marketplace.org)
    • First of 3 GDP readings for 2Q22 declines 0.9% following a 1.6% decline in 1Q22. Two straight quarterly declines is usually a recession but super low 3.6% unemployment offsets this for now, so NBER (the org who calls recessions officially) won’t call it for a couple more months. (cnbc.com)
    • Here's CB Insights 2Q22 State Of Fintech Report. Teaser: Global fintech funding was $20.4b in 2Q22, the lowest since 4Q20. And while the 5 quarters before 2Q22 saw 30+ new fintech unicorns (private firms worth $1b+), there were only 20 unicorn births in 2Q. As for U.S. funding, it's at a 6-quarter low of $8.6b. (cbinsights.com)
    • Existing home sales down 5.4% in June and down 14.2% vs. a year ago. On pace for 5.12m homes sold in 2022. Unsold inventory now 1.26m units, a 3 month supply. First time buyers were 30% of sales, cash buyers 25%, investors and second home buyers 16%. (nar.realtor)
    • Goldman Sachs CEO indicates "flattening out" of inflation into 2023 but tighter economy until then (finance.yahoo.com)
    More Linkage

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