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LTC241220C50000
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15min DelayClose Nov 22 09:30 ET
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0.00Open0.00Pre Close0 Volume0 Open Interest50.00Strike Price0.00Turnover0.00%IV28.63%PremiumDec 20, 2024Expiry Date0.00Intrinsic Value100Multiplier27DDays to Expiry0.00Extrinsic Value100Contract SizeAmericanOptions Type--Delta--Gamma38.87Leverage Ratio--Theta--Rho--Eff Leverage--Vega
LTC Properties Inc Stock Discussion
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Demand for mortgages in the US fell by 9.4% last week, even as mortgage rates fell to 6.8%.
How can mortgage demand be down even as rates are down 130+ basis points from their recent highs?
The answer to this question is that the effective outstanding mortgage rate is 3.7%.
90% of borrowers currently have interest rates below 5%.
Even if mortgage rates fell to 5%, the vast majority of borrowers would still have a financial disincentive to sell.
Particularly as investors accounted for many of the...
How can mortgage demand be down even as rates are down 130+ basis points from their recent highs?
The answer to this question is that the effective outstanding mortgage rate is 3.7%.
90% of borrowers currently have interest rates below 5%.
Even if mortgage rates fell to 5%, the vast majority of borrowers would still have a financial disincentive to sell.
Particularly as investors accounted for many of the...
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- Home prices rose 4.8% nationally in October compared with October 2022, according to the S&P CoreLogic Case-Shiller home price index.
- That’s a jump from the 4% annual increase in September and marks the strongest annual gain seen in 2023.
- Among the top 20 cities, Detroit reported the largest year-over-year gain in home prices at 8.1% in October.
Home prices rose 4.8% nationally in October com...
- That’s a jump from the 4% annual increase in September and marks the strongest annual gain seen in 2023.
- Among the top 20 cities, Detroit reported the largest year-over-year gain in home prices at 8.1% in October.
Home prices rose 4.8% nationally in October com...
The new normal for Commercial Real Estate (CRE):
Properties are selling for less than half of what they were worth just 5 years ago.
A downtown Los Angeles office building that sold for $92.5 million in 2018 just sold for $44.7 million.
2 days ago, the Aon Center, Los Angeles' third largest building, sold for 45% less than its last purchase price in 2014.
All as real estate giants like WeWork file bankruptcy and flood the market with supply.
The strength of housing continues to mask the weakness...
Properties are selling for less than half of what they were worth just 5 years ago.
A downtown Los Angeles office building that sold for $92.5 million in 2018 just sold for $44.7 million.
2 days ago, the Aon Center, Los Angeles' third largest building, sold for 45% less than its last purchase price in 2014.
All as real estate giants like WeWork file bankruptcy and flood the market with supply.
The strength of housing continues to mask the weakness...
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Median rent price falls to $1,967/month in November marking its largest decline in 3 years, according to Redfin.
The median asking rent price fell 2.1% year-over-year just after breaking above $2,000/month.
Meanwhile, housing starts skyrocketed by 14.8% in November to their highest level since May 2022.
These numbers have yet to account for the 100+ basis point drop in interest rates from their peak.
The "Fed pivot" is spreading into housing.
$Dow Jones Industrial Average (.DJI.US)$ $Zillow-C (Z.US)$ $LTC Properties Inc (LTC.US)$ $Macerich Co (MAC.US)$
The median asking rent price fell 2.1% year-over-year just after breaking above $2,000/month.
Meanwhile, housing starts skyrocketed by 14.8% in November to their highest level since May 2022.
These numbers have yet to account for the 100+ basis point drop in interest rates from their peak.
The "Fed pivot" is spreading into housing.
$Dow Jones Industrial Average (.DJI.US)$ $Zillow-C (Z.US)$ $LTC Properties Inc (LTC.US)$ $Macerich Co (MAC.US)$
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The median American household would need to spend over 41% of their income to afford the median-priced home in 2023, the highest share on record. $Zillow-C (Z.US)$ $Mid-America Apartment Communities Inc (MAA.US)$ $LTC Properties Inc (LTC.US)$
Pending home sales just hit their lowest level in history.
In October, US pending home sales fell 1.5% putting sales down 6.6% over the last year.
This also marks the 23rd STRAIGHT decline in US pending home sales.
To put this in perspective, pending home sales are more than 10% BELOW what they were in 2010.
They are also ~3% below the pandemic low when the global economy was in a lockdown.
All as mortgage demand is at its lowest levels since 1994.
The housing market is coming to a complete halt...
In October, US pending home sales fell 1.5% putting sales down 6.6% over the last year.
This also marks the 23rd STRAIGHT decline in US pending home sales.
To put this in perspective, pending home sales are more than 10% BELOW what they were in 2010.
They are also ~3% below the pandemic low when the global economy was in a lockdown.
All as mortgage demand is at its lowest levels since 1994.
The housing market is coming to a complete halt...
In fact, real home prices are now 80% ABOVE the 130-year historical average, according to Reventure.
This means that even on an inflation adjusted basis, home prices have never been more expensive.
Meanwhile, housing supply is 40% below the historical average.
All while mortgage demand is at its lowest since 1994 and the median homebuyer now has a $3000/mo payment.
Truly historic times.
$S&P 500 Index (.SPX.US)$ $ARMOUR Residential REIT Inc (ARR.US)$ $LTC Properties Inc (LTC.US)$
This means that even on an inflation adjusted basis, home prices have never been more expensive.
Meanwhile, housing supply is 40% below the historical average.
All while mortgage demand is at its lowest since 1994 and the median homebuyer now has a $3000/mo payment.
Truly historic times.
$S&P 500 Index (.SPX.US)$ $ARMOUR Residential REIT Inc (ARR.US)$ $LTC Properties Inc (LTC.US)$
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The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 3.9% annual change in September, up from a 2.5% change in the previous month. The 10-City Composite showed an increase of 4.8%, up from a 3.0% increase in the previous month. The 20-City Composite posted a year-over-year increase of 3.9%, up from a 2.1% increase in the previous month. ...
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