The Housing Blizzard Of 2023

December 30, 2022

I’m thankful that 2022 is nearly over, and it clearly went out with a bang.

After viewing the blizzard, try to make sense of this:

But I digress…

Thanks To All My Readers Of Housing Notes

It’s been a busy year to chronicle and work through. This final Housing Note of 2022 was written from a hotel in suburban Detroit, surrounded by empty parking spaces and adjacent to a nearly bankrupt mall full of elderly people walking briskly, determined to beat last week’s lap time. I’ve been visiting my wife’s family this week, all wonderful people, and I’ve been gearing up for next week’s market report releases.

On a personal/business note…

– We sold our house, moving out of a town I’ve lived in for 32 years just as the fed unleashed a series of rate hikes.
– We lost a 6-way bidding war for a renovated barn with a 2-story peace sign but won a 30-way bidding war for the house of our dreams built before the American Revolution.
– My one-hour commute was extended by 30 minutes but offset by commuting only two days a week.
– We took a 3-week vacation for the first time in our adult lives.
– We extended the lease on our office, the home to Miller Samuel for the last 19 years, for another decade, coming with a total gut rehab.

On a housing market note…

– We’ll be analyzing more U.S. housing markets in 2023
– I will continue bringing transparency to the table, along with many new charts.
– We are rolling out some new content offerings on our website that are long overdue.

I very much appreciate our loyal and expanding audience that waits for that 2pm every Friday email for the past seven and a half years!

Happy New Year!

Getting Graphic

My favorite housing market & economy relate charts of the week made by others

My favorite random charts of the week made by others

Appraiserville

(For earlier appraisal industry commentary, visit my old clunky REIC site.)

Thank You!

I very much appreciate all my loyal readers of Appraiserville, especially those who have helped influence positive changes in the appraisal industry. It’s quite a list, and you know who you are.

I hope all of those lost FOJs will embrace leaving the cult and returning AI to its rightful place of true industry leadership or leave the organization. Please. There is much work to do.

The year 2023 is expected to see the parallel demise of the FODs and converting TAF to an organization that begins to focus on its responsibility of protecting the public trust and being in sync with reality rather than based on a handful of sycophants to carry water for Bunton. Remember that TAF is the organization that wrote the bat-shit crazy letter, the chickenshit letter and is the subject of an active investigation by HUD on whether USPAP promotes a lack of diversity in the appraisal profession (BLS: 97.7% of appraisers are white)

I’m optimistic there will be notable changes to TAF for the good in 2023. C’mon HUD!

I’ve long said that the residential appraisal industry is a pack of lone wolves who work hard and are the very definition of entrepreneurs. Thank you for your efforts to get this industry back on track and remove all the infighting largely caused by two individuals.

One down, one to go.

Happy New Year!

– Jonathan

OFT (One Final Thought)

Brilliant Idea #1

If you need something rock solid in your life (particularly on Friday afternoons) and someone forwarded this to you, or you think you already subscribed, sign up here for these weekly Housing Notes. And be sure to share with a friend or colleague if you enjoy them because:

– They’ll be in a blizzard;
– You’ll make a snowman;
– And I’ll scream at the top of my lungs.

Brilliant Idea #2

You’re obviously full of insights and ideas as a reader of Housing Notes. I appreciate every email I receive, and it helps me craft the following week’s Housing Note.

See you next week.

Jonathan J. Miller, CRE, Member of RAC
President/CEO
Miller Samuel Inc.
Real Estate Appraisers & Consultants
Matrix Blog
@jonathanmiller

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