Today’s News Synopsis:
People who lost their homes in the housing crisis are buying homes again. Mortgage rates continue to show signs of increase with 30-year rates now at 4.17% and 15-year rates at 3.62%. Should we be worried that the homeownership rate didn’t change much in the first quarter?
In The News:
Freddie Mac – “Mortgage Rates Continue to Climb” (4-25-2019)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that fixed mortgage rates posted a fourth consecutive week of increases.”
Realtor.com – “How to Buy a Tiny House: A miniguide to Going Small” (4-25-2019)
“Love the idea of living in a tiny house? You and the rest of the world! But before you purge all of your belongings and sell your regular-size place, you’d better get a bit more acquainted with what’s involved with buying an itty-bitty abode.”
USA Today – “Boomerang buyers: More people who lost homes during housing crisis are buying again” (4-25-2019)
“After Teresa and Mark Taunton short sold their $535,000 four-bedroom dream home in Celebration, Florida, at the end of the real estate meltdown in 2011, buying another house was the last thing on their minds.”
Zillow – “Black and Hispanic Communities are Still Reeling from the Foreclosure Crisis” (4-25-2019)
“Millions of homeowners across the country lost their homes in the foreclosure crisis, missing out on the opportunity to regain and grow their net wealth as the housing market recovered.”
MarketWatch – “America’s homeownership rate didn’t budge in the first quarter – should you be concerned?” (4-25-2019)
“The percentage of Americans who are homeowners hasn’t budged much this year. The first-quarter numbers followed eight consecutive quarters of year-over-year increases.”
Curbed – “Housing inequality mirrors income inequality, says study” (4-25-2019)
“Cost increases much higher for low-income renters than high-income homeowners, exacerbating income divide.”
Realtor Magazine – “4 in 5 Landlords Say the Money Is Worth the Stress” (4-25-2019)
“Working with tenants is stressful, landlords agree. Eighty-eight percent of landlords recently surveyed say they have experienced some stress renting out their properties, yet 80 percent say the money from being a landlord is worth the stress, according to a new survey from Porch.com, a home remodeling website.”
Entrepreneur – “General Elections – The Real Estate Connection” (4-25-2019)
“During an impending general election, real estate stakeholders conjecture exhaustively about the likely impact on the real estate market.”
Bruce Norris will be speaking with Harry Barth in their webinar Critical Decisions Property Investors Need To Make Right Now on Tuesday, April 3o.
Aaron Norris will be presenting Innovating Real Estate Marketing with the Moreno Valley Professionals on Wednesday, May 8.
Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn with WEREP on Friday, May 10.
Homes in formerly redlined areas still trailing in value. HUD Secretary Ben Carson proposed changes to be made to current rent policies that would make them predictable and easier to understand. Home prices saw another increase as building materials were becoming more expensive.
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