Info Bytes 12.31.22

BLOG: The Myth of “Full Funding”

• This is our last blog article for 2022.  At ~1,400 words, this is certainly not our shortest article, but we hope you’ll enjoy it with a cup or glass of something tasty.

  1. Due diligence is required to create a materially correct reserve study
  2. Future reserve contributions can be calculated with precision IF your reserve study is materially correct.  Cash flow is king!

The Myth of “Full Funding”

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Karens for Hire

• Have you run out of ammunition trying What to Do when Things Go Askew ?  TRY THIS:

  Cutting through customer service doom-loops by calling in a ‘Karen’ — Steve Hendrix | WaPo

When Fixing the Housing Market, Don’t Forget the Neediest

• Housing affordability in the United States has gotten worse.  Are we in crisis mode?

  When Fixing the Housing Market, Don’t Forget the Neediest — Bloomberg Editors | Courtesy of Washington Post 12/30/22

Ready to Pounce

• Are you following the ongoing housing story?  We’ve covered an amazing slew of articles over the past few months!

  Corporate Landlords Ready $110 Billion to Pounce on Homes

  — James Rodriguez & Daniel Geiger | Business Insider

Still In Decline

• Existing home sales declined from 503,000 to 326,000 (35%) Nov ‘21 to Nov ‘22.

  U.S. Home Sales Post Record 10th Straight Month of Declines — Nicole Friedman | WSJ

Early Innings …

• It’s still early innings for the housing market downturn… — Lance Lambert | MSN

• Wells Fargo economists say housing downturn is still in ‘early innings’

  — Mark Calvey | San Francisco Business Times [Business Journals Paywall]

Uphill Battle

• Condo owners in Florida, already getting squeezed by increasing insurance costs, also might get hit soon by higher monthly fees from new state regulations on structural inspections and reserve funds….

  Florida Condo Owners Brace for Inspection, Reserve Requirements — Deborah Acosta | WSJ

What a Year

• “This was really like a mugging the way it happened,” said John Stoltzfus, chief investment strategist at Oppenheimer. “You had China, you had Russia, and then you had the process of the Fed doing what it finally had to do.” This is the story of how Wall Street got 2022 wrong. 

  — David E. Rovella for Bloomberg Evening Briefing 12/29/22

Through the Roof

• Mortgage rates are ON FIRE🔥

  Mortgage Rates Record Biggest Calendar-Year Increase in 2022 — Gina Heeb | WSJ

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