– SFR sales are down, inventory down, median price steady.
– Multifamily sales are non existent, and offers have not closed.
– Commercial sales are non existent, and offers have been withdrawn.
- 15 July – 2019 taxes due, as well as Q1 as Q2 quarterlies. How many people deferred tax payment to make mortgage/ rent and will now be “owned” by the Government?
- 1 August – Hiatus on collections expires. What is the NOD level going to be? I haven’t seen any specific data on late payments, but I do have confirmation on a significant increase in BPOs (Broker Price Opinions) from the lenders which suggest oh-uh.
Everyone is trying to feel normal right now, but it’s just not. We are in inning 3.
Dan Rider said:
Could be the top of the second
Scott McGuire said:
It will be interesting how this all plays out. I read an article Friday that cited; “As the economic fallout from the coronavirus pandemic continues, almost one-third of U.S. households, 32%, have not made their full housing payments for July yet, according to a survey by Apartment List, an online rental platform.
About 19% of Americans made no housing payment at all during the first week of the month, and 13% paid only a portion of their rent or mortgage.”
Uncharted territory we’re moving into come August 1.
Uncle Sam’s extra $600 week runs out this month. If there is no extension, we’ll truly see the impact of all of this unemployment.