Today’s News Synopsis:
Time to worry about the housing market again??? Mortgage payments are rising at twice the rate as home values with the increase in mortgage rates. NAHB and Wells Fargo reported a one-point increase in builder confidence this month, putting it now at 68.
In The News:
CoreLogic – “CoreLogic Reports Rising Single-Family Rent Prices in US Vacation Destinations” (10-16-2018)
“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and among 20 metropolitan areas. Data collected for August 2018 shows a national rent increase of 3.1 percent, compared to 2.7 percent in August 2017.”
Wall Street Journal – “Tiny Rooms, Shared Kitchens: Co-Living on the Rise in Big Cities” (10-16-2018)
“Co-living, a budding real-estate trend often derided as an extension of college dorm life, may be growing up.”
ATTOM Data Solutions – “Digital Mortgage Applications Optimized with Property Ownership Data” (10-16-2018)
“Online mortgage marketplace LendingTree optimizes its digital mortgage application process with the help of bulk property data from ATTOM Data Solutions, which is used to pre-fill and validate property and ownership information along with mortgage and transaction history.”
Zillow – “Rising Interest Rates Send Mortgage Payments Climbing Twice as Fast as Home Values” (10-16-2018)
“Buyers’ monthly housing costs are growing rapidly as mortgage rates have risen significantly since the beginning of the year. A new Zillow® analysis finds that higher rates are responsible for about two-thirds of the increase in buyers’ monthly mortgage payments compared with what those costs would have been a year ago had home values remained constant at their current level.”
Freddie Mac – “Mortgage Rates Drive Declines in Apartment Investment Market Index” (10-16-2018)
“Significant increases in mortgage rates once again have driven declines in the Freddie Mac (OTCQB: FMCC) Multifamily Apartment Investment Market Index (AIMI®) across most markets for the second quarter of 2018 and over the past 12 months.”
Bloomberg – “Housing Market Is Raising Serious Red Flags” (10-16-2018)
“Real home price growth looks to have already entered a cyclical downturn that is likely to intensify as affordability worsens.”
NAHB – “Builder Confidence Rises One Point in October, Remains at Summer Levels” (10-16-2018)
“Builder confidence in the market for newly-built single-family homes rose one point to 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).”
Apartment Therapy – “The Pros and Cons of Laminate Wood Flooring” (10-16-2018)
“If you’re building or remodeling a home, or even just thinking about it, you’ve probably come across this particular conundrum: Do you pick laminate flooring, or go for real wood?”
Bruce Norris will be speaking at the Fresno Real Estate Investor Rally on Wednesday, October 17.
Bruce Norris will be speaking at the AOA Million Dollar Trade Show and Landlording Conference on Thursday, October 25.
Bruce Norris will be presenting Stay Put or Cash Out with the OC REI Club on Thursday, October 25.
How soon before you house runs on batteries? In a unique story, tile company Casa Ceramic was using optical illusions on their floor to get people to slow down and really take a look when viewing the home. After making its way into the retail and restaurant business, Bitcoin was starting to make its way into real estate.
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