Norris Bruce
Dec 12, 2019

Almost 50% More Than Last Decade

Today’s News Synopsis:

Renters spent 4.5 Trillion on housing this decade.  Mortgage rates increased this week with 30-year rates now at 3.73% and 15-year rates at 3.19%.  Home-flipping activity decreased with 56,566 single-family homes and condos flipped in the third quarter, down 12.9% from the previous quarter and 6.8% year-over-year.

In The News:

Freddie Mac “Mortgage Rates Tick Up” (12-12-2019)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.73 percent, ticking up from last week.”

Mortgage Bankers Association “November New Home Purchase Mortgage Applications Increased 27.1 Percent” (12-12-2019)

“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for November 2019 shows mortgage applications for new home purchases increased 27.1 percent compared from a year ago.”

Zillow “U.S. Renters Spent $4.5 Trillion on Housing This Decade” (12-12-2019)

“U.S. renters spent a cumulative $4.5 trillion on rent during the 2010s, according to a new Zillow® analysis. That’s more than the GDP of Germany or the combined market values of Apple, Microsoft, Amazon and Alphabet.”

Realtor.com “Here Are 2020’s Top Real Estate Markets: Affordable Alternatives to Megapricey Cities” (12-12-2019)

“A brand-new decade is less than a month away, and we’re already seeing a sea change in how—and more importantly, where—Americans want to live.”

ATTOM Data Solutions “U.S. Home-Flipping Activity Drops As Returns Remain At Near Seven-Year Low” (12-12-2019)

“ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its third-quarter 2019 U.S. Home Flipping Report, which shows that 56,566 U.S. single-family homes and condos were flipped in the third quarter of 2019, down 12.9 percent from the previous quarter and down 6.8 percent from a year ago.”

Yahoo Finance “CoreLogic Reports 78,000 Single-Family Properties Regained Equity in the Third Quarter of 2019” (12-12-2019)

“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released the Home Equity Report for the third quarter of 2019.”

Axios “The great American housing engine slows” (12-12-2019)

“Rising prices, changing demographics and low geographic mobility are shaking up the housing market and driving down the number of homes for sale in the U.S.”

Tech Crunch “The last decade in real estate, and a peek into the next one” (12-12-2019)

“As we barrel towards the start of a new decade, it’s amazing to think about the ongoing transformation within real estate.”

Berekeleyside “Home Truths: Co-housing in the East Bay offers an alternative to traditional living” (12-12-2019)

“Most of us in the East Bay live exclusively with our nuclear families, but not all.  Some East Bay residents choose to live in intentional communities that transcend the traditional nuclear family makeup of home exclusively with partners, parents or children.”

 

California Real Estate Investor Events

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Prosperity Through Real Estate on Tuesday, January 7.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Robert Hall & Associates on Wednesday, January 8.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with OCREIA on Thursday, January 9.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with CVREIA on Thursday, January 14.

Bruce Norris will be presenting Turmoil: The Coming Storm of Negative Interest Rates on Saturday, February 1.

 

Looking Back:

Market correction or midterm speed bump?  What were 4 effective ways that were proven to make tenants want to keep renting every year?  What were some of the biggest housing stories from the previous year?

 

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