Today’s News Synopsis:
Study finds that 40% of LA homes are owned by corporate entities. The Mortgage Bankers Association reported mortgage applications decreased 2.2% from last week. As we approach 2020, what are 5 real estate opportunities to invest in?
In The News:
Mortgage Bankers Association – “Mortgage Applications Decrease in Latest MBA Weekly Survey” (11-20-2019)
“Mortgage applications decreased 2.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 15, 2019.”
Realtor.com – “Should Retirees Rent or Own? 3 Questions to Help You Decide” (11-20-2019)
“For many of us, the decision to rent or buy is dictated by our income. If the monthly costs of homeownership take up no more than 30% of your income and you can afford a down payment, then buying a home is likely to make more financial sense.”
Wall Street Journal – “New Arizona Development Bans Residents From Bringing Cars” (11-20-2019)
“A $140 million Arizona development is banning residents from bringing their own cars in favor of scooters, bikes and ride-sharing, testing demand for a new type of walkable neighborhood.”
Entrepreneur – “5 Real Estate Opportunities for Entrepreneurs in 2020” (11-20-2019)
“Real estate has always been one of the most attractive investment offerings. Its relative stability makes it a good option for capital appreciation, and when done well, it can generate exponential profits.”
Patch – “Spec Investors Have Stranglehold On LA Real Estate, Study Says” (11-20-2019)
“A report released by advocates for affordable housing in Los Angeles Tuesday claims corporate entities own nearly half of LA’s residential properties.”
Business Insider – “13 places in the US where it’s probably not worth investing in real estate for the next decade” (11-19-2019)
“Many people say buying a home is an investment, but it doesn’t always work out well.”
Curbed – “Seventeen percent of SF millennials say they’ll never buy a home” (11-20-2019)
“The SF-based rental site Apartment List conducted its annual survey of millennial renters this week and found that more young people in both San Francisco and San Jose never plan to buy a home.”
Forbes – “New Report Finds That Many Homebuyers Experience Racial Discrimination” (11-20-2019)
“In 1991, an episode of “Prime Time Live” featuring Diane Sawyer aired, revealing undercover videos that provided more proof that racism in America was still alive and well.”
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with Pasadena FIBI on Thursday, November 21.
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 OCREIA on Thursday, January 9.
Bruce Norris will be presenting Turmoil: The Coming Storm of Negative Interest Rates on Saturday, February 1.
Permits, starts, and completions all down. Builder and developer confidence in the multifamily sector was weak in the third quarter according to NAHB’s Multifamily Market Survey, dropping three points to 48. Out of the whole year, what were the top ten best days to purchase a home?
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