The story here is it seems like there is far less panic selling among sellers and less discounting.
I work in Biotech. There are a large amount of layoffs in bigger companies, and I’ve lost count of the number of start-ups that have folded. My company just instigated a defacto hiring freeze. The tech industry is also undergoing the same issue unless you work in AI.
No investor wants to put money into a start-up with 6% bond interest rates. I can’t stress enough how much things have changed in the past year for tech start-ups.
These layoffs will affect other parts of the economy and cause a recession.
It will be interesting to see what happens in the new year. Lots of folks looking for jobs that do not exist. I guess at some point those 7-10K/month mortgages are going to become unsustainable.
