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Housing market turns upside-down today as home-sellers win their case against real estate plaintiffs.
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A Missouri jury on Tuesday found that the real estate industry trade group, the National Association of Realtors, and some residential brokerages are liable for nearly $1.8 billion in damages after determining they conspired to maintain commissions for home sales artificially high.
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Economists are divided on whether home prices will go up or down for the rest of 2023.
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After two weeks of testimony the Kansas City jury found NAR, HomeServices and Keller Williams guilty of collusion.
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Jurors on Tuesday shocked the real estate industry, awarding full damages totaling $1.78B to homesellers after deliberating for 2 hours and 28 minutes.
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Disclosure and contract separation could result from litigation, industry rep says
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From
youtu
From Logan to Ricky:
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Mortgage rates are starting to make a difference and we could be on the verge of active inventory being flat or even higher than last year.
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Hitting all his hot buttons today with the month-to-month PCE price index. By Wolf Richter for WOLF STREET. The spike in inflation in “core services” (all services except energy services) was the big nasty surprise – inflation is infamous for dishing up nasty surprises – in today’s release of the...
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Arizona is ranked second among states where home prices are rising faster than wages, according to an analysis by MyEListing.
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In this article Finding off-market real estate deals can be a great way to kick off your investing career, as it requires very little money to get started. The catch? You must be willing to get your hands dirty.
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Mortgage rates have been steadily climbing to highs not seen in over 20 years, and now a trend from the 1980s as reemerged. More buyers are seeking assumable loans.
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From
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Greg and I react to the giant $1.8 billion verdict in Sitzer v. NAR.
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A Kansas City jury unanimously found that the National Association of Realtors and other organizations conspired to artificially inflate home sale commissions.
AZ Mountain Lake Realty's insight:
“We believe it is possible that the DOJ would proactively weigh in during the injunction determination in order to make the changes that it believes is necessary to promote a fair and competitive market,” the analysts’ note said.
In a worst-case scenario for the industry, the federal government could seek to ban sharing commissions, which would upend how real estate agents have done business for decades. That would be especially bad news at a moment when the US real estate is largely frozen, with mortgage rates approaching 8% and existing home sales nearing lows not seen since the foreclosure crisis.
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After a $1.8 billion award against two brokerages and NAR, the plaintiffs’ attorney filed a similar lawsuit against other firms.
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Homebuyers nationwide are experiencing rising interest rates while sellers and lenders work through declining mortgage applications as both categories hit levels not seen in decades.
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The Burnett case delivered a massive blow to organized real estate today, with a jury finding real estate power players violated federal law.
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FOX News contributor Katrina Campins discusses rising mortgage rates as it poses a challenge to first-time homebuyers and the rental market.
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U.S. Housing market bailouts end in November. Job loss, massive foreclosures, auto repossessions, credit card defaults, and bankruptcies may rewrite our monetary policies in 2024. FED Insider, Analysist and CEO,@DanielleDiMartinoBoothQI tells all.
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Ken McElroy continues to examine the striking similarities between the economic challenges of the 1970s and today. From government spending and oil embargoes to inflation and global tensions, discover how an economic history lesson can shed light on our current financial landscape.
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The mortgage industry is notoriously feast or famine, but there’s no obvious way out of this bust, and many mortgage companies are growing desperate.
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A "slight uptick" in inflation is unlikely to see the Reserve Bank lift rates at its October meeting, but households facing a fixed-rate mortgage cliff are warned to brace for higher repayments.
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The Freedonia Group is a leading international business research company, founded in 1985. We provide critical market research solutions, publish more than 400 research studies annually, and deliver customized industry research.
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