Homeownership Rising in the U.S.

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After increasing in the third quarter for the first time in two years (from a 48-year low), American homeownership rose for a second consecutive quarter from 63.7 percent to 63.8, the Census Bureau announced Thursday. Fueled by job growth and flexible lending, these successive increases, albeit minuscule, are welcome news after a span of incessant downturns that began in 2013. Continue reading

The Struggle with Housing Affordability

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The theme for the 2016 housing market is “the challenge of housing affordability coupled with expected modest economic growth,” according to a recent report from Fannie Mae’s Economic and Strategic Research (ESR) Group. The research group asserts that continued labor market demand will result in higher wages and job security in the coming year, and that banks will release more flexible lending programs making the process of obtaining mortgage loans easier for millions of Americans. These characteristics indicate a housing market on the upswing with happy, capable buyers; but it’s not that simple. Continue reading

Will the Luxury Real Estate Buyer Please Stand Up?

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The Department of Treasury announced on Wednesday that it would work to increase transparency in luxury real estate transactions. The Financial Crimes Enforcement Network (FinCEN) yesterday issued Geographic Targeting Orders (GTO) that will, for the time being, require selected American title insurance companies to identify the buyer behind companies purchasing luxury real estate properties in all cash in Manhattan and Miami-Dade County—two of the most popular locations for international luxury real estate investment. Continue reading

How Much Of Your Paycheck Will Rent Take?

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Americans spent $535 billion on rent in 2015, according to a recent report from Zillow. “That’s a lot,” you might be thinking, or, “So, what? A lot of people rent in this country.” Here’s some context for you; this is 19 more billions used on rent in 2015 than the year before, a near four percent increase from the $516 billion spent in 2014. The study analogizes that this $535 billion is nearly equal to the budget of the Department of Defense and is five times the amount that Americans put towards caring for their teeth in 2014. Continue reading

The American Rental Market

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Did you know that there are 43 million people in the U.S. who live in rental properties? According to America’s Rental Housing: Expanding Options for Diverse and Growing Demand, a study by the Joint Center for Housing Studies of Harvard University, the number of renters has increased by 9 million since 2005; we have not seen such a surge since the mid ’60s. Continue reading

Cities with the Most Competitive Homebuyers

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This week, Redfin released their ranking of the most competitive neighborhoods for buying homes in 2015 and the cities on the list come as no surprise. Four cities—Boston, Seattle, Denver and Portland—boast of such healthy housing markets, bolstered in no small manner by their thriving tech scenes, that they are home to the top 30 most competitive housing neighborhoods of this year. Continue reading

TRID: Helping or Hurting?

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Today, the National Association of Realtors (NAR) announced that existing-home sales decreased significantly in November, to the lowest figures since April 2014. Existing-home transactions are comprised by sales of single-family homes, townhomes, condominiums and co-ops; according to NAR, they fell 10.5 percent to a seasonally-adjusted annual rate of 4.76 million in November, compared to a similarly disappointing number of 5.32 million in October. Together, these declines represent home sales that are down 3.8 percent from only a year ago. Continue reading

Home Construction Sees Climb

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The housing market is witnessing a recovery as construction of single-family homes and apartments steadily increases. According to the Department of Commerce, builders began construction on 1.173 million units in November, a 10.5 percent increase from October, when calculated at an annual rate. This is welcome news as in October the National Association of Homebuilders (NAHB) released their housing market index (HMI) figure of 62, representing a three-point drop in homebuilder confidence from a month before. Continue reading

2016 Housing Market Outlook

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There is yet another list predicting the busiest housing markets of the coming year, this time from Trulia in the form of their 2016 Housing Market Outlook. As most predictive reports, Trulia’s identifies a mixture of positive and negative trends in the coming year. In regards to their top 10 growing markets, the Trulia report doesn’t coincide with realtor.com’s 2016 Housing Forecast on any cities, and shares only Austin, Texas with PricewaterhouseCoopers (PwC) and the Urban Land Institute’s (ULI) Emerging Trends in Real Estate 2016. Continue reading

Emerging 2016 Housing Markets

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In October, we wrote about a study by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI), which predicted the hottest real estate markets of 2016—the study’s focal assertion was that the New Year would be the time of secondary and tertiary markets. Yesterday, realtor.com released their 2016 Housing Forecast providing an overview of the coming housing market and a list of the top 10 cities for home buying activity. Continue reading