Happy Monday! There is a lot going on this week – ANOTHER BANK DIED – and another Biz Doc 411 comes to life… 4 Stats, 1 Hero/Zero and 1 Interesting Article:
4 Stats
1. $8,800 Per Year
Earned by real estate agents last year who had less than 2 years of experience. Tens of thousands of new agents were created during the housing spike that started in late 2021. Since then interest rates have jumped and supply is at new lows. New agents have found it’s not easy to simply jump into a hot market and make a killing – it’s not 2005-2007 when this career strategy actually worked as new agents quickly made traction in a new careers.
2. -5% Decline
In home prices happening now through Q3 and even into Q4 is what big banks are thinking. The banks see the market’s bad indicators “bottoming,” meaning interest rates going up and home prices going up are both cooling. They see a decline in home prices this summer/fall followed by a decline in interest rates after what many believe will be a moderate recession in the second half of the year.
3. -60% Fewer Acquisitions
Decline in startups buying smaller startups quarter over quarter – this went from 137 deals in Q4 to 82 in Q1 and this is continuing to drop. Startups are having trouble raising cash in next rounds which is crushing the market for smaller acquisitions. The Biz Doc is NOT A BEAR – I AM A BULL but I am seeing too many bear signs and only speak of what I see.
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