Author: josh

Tech stocks led declines globally overnight. The Nasdaq 100 closed down 1.54% yesterday. By contrast, the equal weight S&P 500 actually hit a record high yesterday—indicating that tech companies are the ones dragging down the broader index. “The main culprit has been another slide in chip stocks, with the Philly semiconductor index down -6.27%,” Henry Allen and his colleagues at Deutsche Bank told clients this morning. ONE BIG THINGSam Altman seeks new world order for AI OpenAI founder Sam Altman has proposed a global framework to control AI and make it safe for humanity. In an op-ed for The Financial…

Matt Fischer spent over two decades building products outside real estate before taking the CEO seat at Lone Wolf Technologies this past February. Fischer succeeds Jimmy Kelly, who has remained with the company in an advisory capacity. Fischer joined Lone Wolf from Bullhorn, a Boston-based software company that builds cloud-based tools for the staffing and recruiting industries. Fischer spent 22 years at Bullhorn helping scale the business from a single-product startup into a multi-product market leader serving more than 10,000 customers worldwide. Fischer was also recently named to Inman’s new advisory council of senior executives from brokerage, technology, lending and…

In This Article “My goal is not to buy one property. My goal is to build a machine that continuously funds future acquisitions.” The investor: Osama, Detroit. BRRRR. Zero to nearly 30 units in just over a year. The agent: Julia, FIRE Realty Team, Detroit  Osama came to real estate from the side of the screen most of us know too well: watching other investors do the thing and quietly wondering why he was only watching. Why can’t I do this too?  That question, he says, is the whole origin story: “There was no amount of podcasts, books, YouTube videos,…

Home prices rose just 0.8 percent in April, but Case-Shiller data shows values fell in real terms for the 11th straight month as inflation outpaces growth. U.S. home prices rose just 0.8 percent year-over-year in April, according to the S&P Cotality Case-Shiller National Home Price Index. It’s a number that sounds like growth but functions like stagnation once inflation is factored in. That’s because April marked the 11th consecutive month that home values fell in real terms, with 3.8 percent inflation running roughly three percentage points ahead of nominal price gains. The national index ticked up only slightly from March’s…

The inflow of money into U.S. equities is running well above the average this year, according to Christian Mueller-Glissmann and his team at Goldman Sachs. One aspect of that is that “Investors are increasingly deploying leverage to participate in the equity rally,” they said in a recent note. “Net margin borrowing”—where traders magnify the effect of their bets by borrowing a multiple of their own money—is now at about $1.4 trillion. That’s the equivalent of 1.8% of all U.S. stocks. While leveraged investors can make more money on their trades by borrowing against their own stakes, they also stand to…

MRED MLS previously asked the court to compel arbitration. Zillow disagrees and wants to head to a hearing on Wednesday. As Zillow and Chicago’s multiple listing service head toward the first major legal showdown in a case that could determine the future of real estate marketing, the two groups are arguing over whether they should first try to find a settlement outside court. MRED MLS, the Chicago-based MLS that has become a central player in the struggle over private listings, asked a federal judge this week to send the parties to arbitration. Zillow sued MRED and Compass in May. At…

In This Article Name Matt Picaro Location Long Island, New York Occupation Real estate investor Assets Three owner-occupied units Investment strategy House hacking, flipping Financing FHA 203K (3.5% down) Matt Picaro grew up in a blue-collar household watching his parents’ construction business swing between good months and bad ones, and money stress shaped him early. He landed a good job in New York City, but it came with a three-hour daily commute and the slow realization that a steady paycheck wasn’t the answer he was looking for.  Matt picked up a used copy of Rich Dad Poor Dad from a…

Former Indonesian Education Minister and Gojek co-founder Nadiem Makarim was found guilty of corruption over a pandemic-era procurement of Chromebooks for schools, a ruling likely to intensify investor concerns about how Southeast Asia’s largest economy distinguishes graft from disputed policy and business decisions.  The Central Jakarta District Court on Tuesday sentenced Makarim to 10 years in prison, lower than the 18 years sought by prosecutors.  Judges, reading from parts of a more than 1,100-page decision, also ordered him to pay financial penalties of more than 800 billion rupiah ($44.7 million) or face an additional five years in prison. Prosecutors had sought more…

Google’s home listing ads program is beginning to take shape for agents and brokers, with Bright MLS preparing to make active brokerage listings eligible to appear in mobile Google Search results this week. Bright — the country’s largest MLS by subscriber count, with 101,000 members — announced this month that it has partnered with HouseCanary to display active listings in Google Search through HouseCanary’s ComeHome platform. The integration is expected to become available on June 30, with listings expected to display shortly after, according to Bright. The announcement offers one of the clearest looks yet at how Google’s HouseCanary-powered home-listing…

In This Article A conversation with Zach Lemaster, founder and CEO of Rent to Retirement Most investors decided turnkey rentals were dead the morning mortgage rates crossed 7%. Cash flow evaporated, the math stopped penciling, and the smart money went to the sidelines to wait for a cut that keeps not coming.  That’s the consensus, but it’s looking at the wrong number. Zach Lemaster runs Rent to Retirement, a turnkey company that sells and finances new-construction rentals for investors across the country, which means he sees what’s actually closing right now rather than what the internet says is closing. I…