Today’s News Synopsis:
More multifamily home construction took place in the blue states where more people voted for Hillary, while more single-family homes were built in the red states after Trump’s win. Mortgage delinquencies for commercial and multifamily properties remained low in the fourth quarter last year. Home prices increased 4% year-over-year according to CoreLogic.
In The News:
Realtor.com – “Just Under a Million: 9 Gorgeous Homes All Priced at $999,999” (3-3-2020)
“Not so long ago, the idea of a million-dollar home would evoke visions of champagne wishes and caviar dreams. Expectations have changed while the market soars, but a million bucks still buys plenty in today’s housing market. Honest!”
Mortgage Bankers Association – “Commercial and Multifamily Mortgage Delinquencies Stay Low in the Fourth Quarter of 2019” (3-3-2020)
“Commercial and multifamily mortgage delinquencies remained low in the fourth quarter of 2019, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Delinquency Report.”
Curbed – “In a disaster that calls for isolation, your community will help you survive” (3-3-2020)
“Preparing for coronavirus isn’t about shutting yourself in—it’s about reaching out.”
CNBC – “Homebuilder stocks jump on Fed rate cut amid coronavirus outbreak” (3-3-2020)
“Stocks of the nation’s biggest homebuilders jumped after the surprise 50 basis point rate cut by the Federal Reserve.”
NAHB – “A Red-Blue Divide on Home Construction” (3-3-2020)
“Nearly two-thirds of multifamily construction in the fourth quarter of 2019 occurred in “blue counties” where Hillary Clinton garnered the most votes in the 2016 election while nearly the same percentage of single-family home building took place in “red counties” where President Trump won.”
CoreLogic – “CoreLogic Reports January Home Prices Increased by 4% Year Over Year” (3-3-2020)
“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 January 2020, which shows home prices rose both year over year and month over month.”
“Have you thought about relocating or retiring in Europe? Better be careful when considering which country to chose now that nine have made it to the list of the 20 most expensive in the world to live in.”
MarketWatch – “Here’s what the Fed’s surprise interest rate cut means for mortgage rates” (3-3-2020)
“In recent weeks, mortgage rates have dropped to three-year lows in response to global concerns regarding the coronavirus outbreak.”
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with OC FIBI TONIGHT.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with NorcalREIA on Wednesday, March 11.
Bruce and Aaron Norris will be presenting their latest Florida Buying Bootcamp 2020 Thursday-Friday, March 19-20.
A big reason millennials were not able to purchase a home was they were not getting the extra money from their parents. The National Associaton of Realtors reported a 4.6% increase in pending home sales the previous month. The Mortgage Bankers Association reported mortgage applications increased 5.3% from the previous week
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