Today’s News Synopsis:
Natural disasters cause trouble in housing markets. Black homeownership is at it’s lowest on record. Despite renting being the way to go for many in the market, it may be time to start looking at buying.
In The News:
Zillow – “Zillow Now Buying and Selling Homes in Portland” (7-15-2019)
“Starting today, home sellers in the Portland, Oregon metro — including Vancouver, Wash. — can use Zillow Offers to request a cash offer from Zillow to buy their home.”
MarketWatch – “Here’s what the recent earthquakes could do to California’s shaky housing market” (7-15-2019)
“Historically, natural disasters cause trouble in housing markets. Will California prove more resilient?”
DS News – “Preserving Affordable Housing Through Foreclosure” (7-15-2019)
“New Jersey is looking to preserve affordable housing through new foreclosure law, NJ Spotlight reports.”
HousingWire – “Trade groups cast doubt over FHA’s attempt to remove lending roadblocks” (7-15-2019)
“In recent years, lenders have shied away from the Federal Housing Administration’s mortgage program out of fear that minor infractions could lead to major consequences labeled a violation of the False Claims Act.”
Wall Street Journal – “Black Homeownership Drops to All-Time Low” (7-15-2019)
“While Hispanic homeownership rate is on the rise, the black homeownership rate has fallen 8.6 percentage points since its peak in 2004, hitting its lowest level on record in the first quarter of this year, according to census data.”
Forbes – “Why Renters Should Get Serious About Owning Their Homes” (7-15-2019)
“Buying a home is a major financial step and long-term commitment. Owning a home is the quintessential American Dream, but aside from the feeling of pride it brings, there are plenty of practical reasons to purchase a home.”
National Mortgage Professional – “New Report Raises Concern on Housing Market Risk” (7-15-2019)
“Homeownership might be the American Dream, but a new report is raising a warning that new homebuyers might be putting themselves at exposure to financial risk by expecting too much return on equity from their residences.”
CNBC – “Bidding wars are heating up. Here’s how to win your dream home” (7-15-2019)
“The dull days of summer may be over sooner than expected in the nation’s housing market. The supply of homes for sale, which had been increasing earlier this year, could turn lower again soon, and that will likely mean the return of bidding wars.”
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with OC FIBI on Tuesday, August 6.
Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with InvestClub on Wednesday, August 21.
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with WEREP on Friday, August 23.
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