Norris Bruce
Dec 03, 2019

Can You Guess How Many Are in California?

Today’s News Synopsis:

6 cities you need a 6 figure salary to afford.  Home prices increased by 3.5% year-over-year according to CoreLogic.  Is rent control as effective as it seems?

In The News:

Inman “Rent control is getting more popular, but does it actually work?” (12-3-2019)

“New laws in California and Oregon show that rental regulations are gaining traction as a solution to rising housing costs.”

CoreLogic “CoreLogic Reports October Home Prices Increased by 3.5% Year Over Year” (12-3-2019)

“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI) and HPI Forecast for October 2019, which shows home prices rose both year over year and month over month.”

NAHB “Most Home Building in Millennial Areas, But Pace Lags Rest of Nation” (12-3-2019)

“The majority of single-family and multifamily housing production in the nation is occurring in counties with the greatest concentration of millennials.”

CNBC “Airbnb has removed thousands of listings in Boston as new rule takes effect ahead of the company’s presumed IPO next year” (12-3-2019)

“Airbnb is eyeing a major IPO next year, but this year it faces escalating regulation in cities across the country.”

GlobeNews Wire “Freddie Mac Research Shows What It Takes to Offer Affordable Housing in High-Cost, High Opportunity Markets” (12-3-2019)

“Freddie Mac (OTCQB: FMCC) released a Duty to Serve white paper detailing how unique financing structures allowed for affordable rents in the high-cost metro areas of Honolulu, Hawaii; San Jose, California; and Portland, Oregon.”

Redfin “How Home Automation Can Increase Your Property Value” (12-3-2019)

“A fresh coat of paint or nicely staged room might increase curb appeal, but they rarely impact property value. Home automation, however, increases both curb appeal and property value by delivering cost savings on bills and insurance, enabling greater convenience, safety, and security and creating a modern, Internet of Things (IoT)-enabled home.”

Curbed “San Francisco has nearly five empty homes per homeless resident” (12-3-2019)

“Oakland housing activists Moms 4 Housing, who made national news by taking over a vacant West Oakland house in November, frequently cite a statistic alleging that there are four empty homes in Oakland for every homeless person—a figure alluded to in the group’s name.”

Forbes “6 Cities Where You Need A Six-Figure Salary To Afford A Median-Priced Home” (12-3-2019)

“The dream of homeownership is alive and well for many Americans despite considerable obstacles, including rising home prices, saving for a down payment and student debt.”

 

California Real Estate Investor Events

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with SDCIA on Tuesday, December 10.

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:

Do agents have an obligation to understand the senior market?  Realtor.com’s latest list showed the ten cities getting affected the most by the housing slowdown.  For the first time in a while, December was not the slowest month this year for home sales.

 

More on Hard Money Loans

Information on Note Investing

Real Estate Investor Education & Resources

members of