Armin Tamzarian

[Nick Gerli @nickgerli1]

America's largest home builder is taking on a lot more mortgage risk to keep selling homes.

DR Horton now finances 82% of its home sales through its own mortgage company.

At the same time, the share of FHA and VA loans has surged from 44% to 63% over the last four years.

This matters because DR Horton just admitted that housing demand is weaker than they expected.

They lowered guidance, said orders came in below their internal forecast, and acknowledged demand softened during the quarter. So if demand is weak...

...how are they still selling homes at a decent clip?

They're not cutting prices as aggressively as Lennar.

Instead, they're widening the buyer pool with builder financing, mortgage-rate buydowns, and a much bigger share of FHA and VA loans.

The problem is that FHA loans currently have much higher serious delinquency rates than conventional mortgages.

I'm already finding examples of recent DR Horton buyers trying to sell at steep losses after buying near the peak.

To me, that's one of the biggest housing stories in America right now.

The country's largest home builder is increasingly relying on aggressive financing to keep sales moving in a weakening market, and no one is paying attention.

[Kris Pursiainen @krispursiainen]

Plaxico Burress said playing for the Jets was similar to prison because he walked into both facilities every day feeling like a loser

Incredible

[trappy 🎀🍓 @c1nnamonbunny]

Seriously what is going on

[Nick Gerli @nickgerli1]

Florida's housing downturn is getting ugly.

$143,000 loss on a house tpurchased as a new build just three years ago.

Listed today for $425,000. Purchased for $568,000 in 2023.

It gets worse.

With an estimated $470,000 mortgage, the owner is now underwater and the home is being sold as a short sale.

We were told that these type of declines wouldn't happen, yet I find a new house like this every day in Florida.

The good news is that real discounts and post-crash pricing are finally emerging in the hardest hit areas.

But be careful not to catch a falling knife.

Our forecast suggests this ZIP code will drop another 5%.

So make sure you factor that into your offer on our listing analyzer: https://t.co/nXb7WRppuD

[Andrew Curran @AndrewCurran_]

New details about the Hugging Face incident from Reuters. The report says OpenAI noticed odd behavior before the event, including an agent leaving notes for future versions of itself with escape instructions.

[Marсo | Not-Ideal Investor @b_co_co]

Adjusted for inflation, US home prices were flat from 1890 to 1997.

That's 107 years.

Everything you believe about housing as an investment was formed in the 28 years since.

I don't think people understand how new that belief is.

[Darth Powell @VladTheInflator]

American have been in a depression since 2008 because we bailed out the rich

[Darth Powell @VladTheInflator]

We are currently in the largest housing bubble in US history.

[Peter Mallouk @PeterMallouk]

2% inflation is not what is really happening...

[Jon Brooks @jonbrooks]

Florida's housing market isn't collapsing.

It's splitting in two.

• Migration: 310K → 22.5K in just 3 years (-93%)
• Condo supply: 13+ months
• Mortgage rates: 6.55%
• Builder incentives: ~$55,000 per home
• FHA delinquencies: 11.9%

The next 24 months won't be one market.
They'll be five different markets.

[Eric Spracklen 🇺🇸 @EricSpracklen]

The crash that’s coming is going to make 2008 look like nothing and it is going to be devastating for so many recent buyers.

If you know someone who bought recently(since 2020-2021), just pray for them. They are gonna need it.

[Barchart @Barchart]

U.S. Housing Market has reached its most unaffordable level in history 🚨🚨

[Jon Brooks @jonbrooks]

Florida housing is flashing contradictions everywhere:

Prices falling with LESS inventory.
Population growing while rents FALL.
Pending sales rising while mortgage apps DROP.
Builder orders up while margins CRATER.
Delinquencies “low” but rising across the board.
Miami is “desirable” but lost 73,000 residents.

The headlines say Florida is fine.
The underlying data says demand is cracking.

[Jon Brooks @jonbrooks]

Builders are getting crushed right now.

Forward commitments are drying up. Buyers can't afford to buy without the buy-downs.

And builders are still sitting on overpriced, poorly built inventory hoping some sucker walks in and pays full price.

I see it every single day.

The pain is just getting started.

[Nick Gerli @nickgerli1]

Florida's housing downturn is entering a new stage: severe mortgage distress.

It now ranks #1 in the U.S. for foreclosures.

And we're starting to see listings like this, where the homeowner is trying to sell for $130,000 less than they paid in 2022.

That's a 40% loss in just four years.

Many people who bought near Florida's housing peak in 2022-23 are now running into financial trouble.

But what's remarkable is that mortgage distress is still nowhere near 2008-09 levels. Yet we're already seeing individual homes lose 40% of their value.

If this trend continues, today's discounts may only be the beginning.

Check the value estimate of any listing with Reventure's analyzer: https://t.co/nXb7WRppuD

[Nick Gerli @nickgerli1]

Sellers in Florida are beginning to do massive liquidations.

In some cases, taking $100K losses from peak prices.

This townhouse in Southwest Florida sold for $304k in 2023 as a brand-new build, right near the top of the market.

Just 3 years later, it's listed for $195k.

That's a $109,000 loss. (and 35% discount from the original purchase price)

And this isn't an isolated case.

Florida is now the #1 state for foreclosures and distressed sales in the U.S.

For buyers, that means that the biggest discounts are only just starting to emerge.

Use our Listing Analyzer to see how much we'd offer on homes in your ZIP Code: https://t.co/nXb7WRpXkb

[George Gammon @GeorgeGammon]

Haha…facts

[greg @greg16676935420]

How do I know if I have regular Taco Bell diarrhea or parasite Taco Bell diarrhea