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DID YOU KNOW?

Recently I did an interview with Dustin Sundy on THE LUXURY MARKETS that may be of value to you, your colleagues or clients. Here is a LINK
 
Sales of previously owned homes fell nearly 6% in July compared with June, according to the NAR. Sales fell about 20% from the same month a year ago. We are in a housing recession because builders are not building enough, having cut production notably.....the exact opposite of what needs to happen to resolve housing price inflation, especially at the entry level..... There were 1.31 million homes for sale at the end of July, unchanged from July 2021. At the current sales pace, that represents a 3.3-month supply. Supply remains low.  Notable how this data is coming out almost weeks after the fact.... (CNBC)
 
The board of commissioners for Orange County, Florida which includes Orlando, moved to put a measure on the November ballot to let voters decide whether to limit how much landlords can boost apartment rents. While Orange County officials estimate that more than 100,000 households could be eligible for rent control, its passage faces significant challenges. Florida law mostly prohibits price controls on rent, unless Orange County can prove it is experiencing a housing emergency.  Rents in Orlando are up 35% since March 2020, 35.9% in Miami and 43.2% in Tampa.....nationally they are up around 23.3% (remember in MArch 2020 there were COVID rent discounts!) WSJ
OPINION:  We saw this coming. When people simply cannot afford to pay rent, they turn to the government for solutions.
 
Our COMPASS Cares Community in Lake Tahoe needs your help! Local teen, Kiely Rodni, disappeared over a week ago in Truckee, CA and unfortunately the search efforts continue. Help us spread the word, and if you're able, donate here to help Kiely's family continue their search. Together, let's bring Kiely home.
 
Germany used to apply a 19% sales tax on natural gas....it's now discussing lowering that to 7%. In most parts of the US consumers do not pay sales tax on natural gas.

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