Today’s News Synopsis:
The latest S&P/Case-Shiller Index showed home prices increased 5.8% to their highest in 2 1/2 years. Interest rates also continue to show an upward trend according to the latest report from the Federal Housing Finance Agency. Freddie Mac released their latest outlook for this month today.
In The News:
New York Times – “A Rush to Meet Rising Demand, and Expectations, for Student Housing” (2-28-2017)
“The fall semester may be months away, but developers of student housing are already cramming for the next academic year. They’ve been busy pre-leasing apartments while working feverishly on new projects, especially those that must be completed by summer.”
CNBC – “Spring housing already overheating – think 60 offers on one house” (2-28-2017)
“The spring housing market started early this year, not because of higher-than-average temperatures but because of hotter-than-average demand and overheating home prices.”
Pensions & Investments – “Chinese investors dominate Asian overseas real estate investments in 2016 – CBRE” (2-28-2017)
“Chinese investors accounted for almost half of the $60 billion in investments in overseas real estate last year by Asian investors, up sharply from 28% of the $62.4 billion in 2015, according to an announcement Tuesday by real estate services and investment firm CBRE Group.”
Bloomberg – “More Americans Live in Fear of Retiring Poor” (2-28-2017)
“A few weeks after the Republican-controlled U.S. House of Representatives moved to kill rules allowing states to create portable retirement savings accounts, a new survey found that 75 percent of Americans support just such an option.”
Freddie Mac – “Freddie Mac February 2017 Outlook” (2-28-2017)
“Freddie Mac (OTCQB: FMCC) released today its monthly Outlook for February looking at the potential impact rising inflation could have on the housing and mortgage markets under various scenarios as markets prepare for the start of the spring homebuying season”
CNBC – “Monthly US home-price gains reach a 2 1/2-year high” (2-28-2017)
“Low inventory and mortgage rates pushed home-price gains to a 30-month high in December, according to the S&P/Case-Shiller U.S. National Home Price Index.”
DS News – “Interest Rates Continue Trend” (2-28-2017)
“On Tuesday, the Federal Housing Finance Agency reported that mortgage rates increased from December to January and, according to several indices of new mortgage contracts, interest rates on conventional purchase-money mortgages also increased.”
Bloomberg – “The Top Hedge Funds of 2016 Share Their Best Bets for This Year” (2-28-2017)
“A global depression caused by a trade war. An overhaul of health care. Rising inflation and deregulation. To find out what hedge fund managers are looking out for in 2017, we asked several who topped Bloomberg’s 2016 global ranking of the 50 best-performing hedge funds with more than $1 billion in assets.”
Bruce Norris will be speaking at 2017 Real Estate Market Forecast with Coldwell Banker on Tuesday, March 7.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor at NORCALREIA on Wednesday, March 8.
Aaron Norris will be presenting 2 Major Trends For Marketing Dominance in 2017 with OCREIA on Thursday, March 9.
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For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.