Fri 27 Mar 2020

3/27/20: Fireside chat re #Covid_ImpactRE

Bill Wendel Public Seen by 39

#Covid_ImpactRE: What are leading real estate consultants telling agents? This expert publishes the most read, respected annual trends report so encourage local real estate reporters & fellow #buyeragents to tune into complimentary fireside chat, starting 5pm EST




Tom Wemett Fri 27 Mar 2020

Seriously? Stefan says the pandemic is under control. What crap. It hasn't even started seriously. We are in for a long battle. I'm advising clients that they should stay out of the real estate market for 6, 8 to 10 months. Stefan and Jack are unrealistic. Tom W.

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Bill Wendel Fri 27 Mar 2020

@Tom Wemett, Agree, this firechat was definitely not up to T3Sixty's standards. Long on spin, barely a quantified bit of evidence to support his optimistic assessment. Here's what I tweeted in response:

#Covid_ImpactRE: Respect @Swanepoel but can't agree w/ his assessment: "Definition of recession is large impact that occurs rapidly (already 53% drop in showings) & is sustained over time, #Covid19 not going to push RE into recession?" 3X Rebuttal http://bit.ly/GreaterFoolRE_Thread3X



Bill Wendel Fri 27 Mar 2020

Anyone here want to cast a vote on this revealing stat?

#Covid_ImpactRE: Traffic, leads on real estate portals are down 30-40% https://bit.ly/Delprete_PortalDOWN… Which market segments does that reflect, fewer buyers looking, fewer owners thinking of selling, fewer investors, looking for deals? What impact will slowdown have on prices?



Bill Wendel Sat 28 Mar 2020

@John Puma Are you willing to share what’s happening with site traffic on your rental site, http://PlacesForLess.com? @Joe Beckmann, recognize yourself in this Tweet?

“They fly under radar & not a formal group, but long-time affordable housing advocate in Somerville calls them #BenevolentLandlords” - owners who’s age or financial position allow them to reduce or delay rent, already part of naturally-occurring affordable housing”



What do you both think about the state’s new RAFT program?



Bill Wendel Fri 3 Apr 2020

Sent this message to Stefan today via Twitter., did anyone catch his fireside chat this afternoon?

Missed your program today. Is there a recorded version online? Do you listen to MarketPlace?

They've got two segments in today's program that might interest you, listening to one right now on mortgages and earlier the live interview with featured guest asked, is it too early to begin talking about a DEPRESSION? Can you believe that the Fed in St. Louis says, "Unemployment in the second quarter of 2020 in the US, ...may top 32?"


Mark Zandi says banks have cash reserves to absorb losses, but non-bank players like Quicken Loans will be more vulnerable as MILLIONS of homeowners become unable to pay their loans:


Didn't send this to him, but it's worth noting there's a 3rd segment talked about how Covid-19 is changing how boomers think about retirement. Use link below to listen to the last 5 minutes of today's program talks about "Aging in Place" and how no one is talking about that: