BeRealty Newsletter
Beltline houses we love:
FINANCIAL UPDATE
Foreclosures and Bankruptcies Won't Crash the Housing Market
Foreclosure activity is rising, but less than headlines suggest.
In recent years, the number of foreclosures has been very low.
That's because, in 2020 and 2021, the forbearance program and other relief options were put in place to help many homeowners stay in their homes during that tough time.
When the moratorium ended, there was an expected rise in foreclosures.
But just because they're up, that doesn't mean the housing market is in trouble.
To help you see how much things have changed since the housing crash in 2008, check out the graph below:
The numbers for 2021 and 2022 were lower than more typical years. That's in part because the government provided trillions of dollars in aid to individuals and businesses during the pandemic.
Bottom Line
Right now, it's crucial to understand the data.
Foreclosures and bankruptcies are rising, but these leading indicators aren't signaling trouble that would cause another crash.
MODERN HOMES UPDATES
Modern houses we love:
The retro housing market is stuck in an early '80s time warp
After Many challenges today are throwbacks to what consumers and the industry faced four decades ago.
Elevated interest rates, high home prices, low inventory, and sluggish sales were all present in the late 1970s and early 1980s.
Mark Fleming, chief economist for First American Financial, noted the similarities between then and now.
Demographic changes also influenced the market as baby boomers aged into the prime homebuying years.
Bottom Line
High interest rates, unaffordability, low inventory, and sluggish sales defined the early 1980s market.
Demographic changes were also similar, with a large number of people moving into the prime homebuying age.
Declining inflation and stabilizing mortgage rates helped the '80s market get back on track.
INVESTMENT UPDATE
Lake investment houses:
FOOD EVENTS UPDATE
The First Atlanta Michelin Guide Just Dropped, and These Restaurants Earned Stars
A total of 45 restaurants were awarded stars, bib status, or other distinctions during the October 24 ceremony held at the Rialto Center in downtown Atlanta.
Michelin kept its restaurant selections for the first-ever Atlanta guide within the perimeter (ITP), but could expand beyond the perimeter (OTP) in the future.
The night began with a gala that included food from Atlanta restaurants like the General Muir and Whoopsie's and pop-ups such as Salty Smiles, So So Fed, and Lupe's Mexican Eatery, with officials from both Michelin and Atlanta rubbing elbows with local and Michelin chefs and other members of the Atlanta restaurant industry.
The reveal ceremony followed, emceed by Atlanta radio personality Mara Davis, and the Rialto theater was packed with nervous excitement from the local chefs, bartenders, sommeliers, and restaurant owners in the audience...read more
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