Today’s News Synopsis:
Builders pivot meets the needs of Millennials. June saw an increase in single-family housing starts last month. However, another realtor survey showed foreign investment in U.S. residential real estate is declining significantly.
In The News:
NAHB – “Single-Family Starts Increase in June” (7-17-2019)
“Single-family gains helped offset a drop in multifamily production as total housing starts edged 0.9 percent lower in June to a seasonally adjusted annual rate of 1.25 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department”
National Association of Realtors – “Realtor Survey Shows Decline in Foreign Investment in U.S. Residential Real Estate” (7-17-2019)
“A decline in global growth and low housing inventory contributed to a drop in foreign investment in U.S. residential real estate over the past year.”
HousingWire – “Trying to help buyers with student loan debt get their dream home?” (7-17-2019)
“Young adults coming of age in America since the financial crisis have had to battle increasingly higher college tuition and fees at the same time that many of their parents were trying to recover financially.”
“When mortgage rates went up from the 3%’s to nearly 5% in the second half of 2018, builders felt a pinch from lower sales.”
Mortgage Bankers Association – “Mortgage Applications Decrease in Latest MBA Weekly Survey” (7-17-2019)
“Mortgage applications decreased 1.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 12, 2019.”
California Association of Realtors – “June home sales and price report” (7-17-2019)
“After rebounding in May, California home sales fell below the benchmark 400,000 level in June as sales declined from both the previous month and year, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.”
CNBC – “Build-to-rent housing market explodes as investors rush in” (7-17-2019)
“During the foreclosure crisis nearly a decade ago, investors plowed into the housing market, buying millions of distressed homes and turning some of them into lucrative rentals.”
The Real Deal – “Real estate tech investor Fifth Wall launches $500M fund” (7-17-2019)
“Venture capital firm Fifth Wall closed on a $503 million fund focused on investments in real estate technology.”
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.
Could Baby Boomers spur a housing bust? NAHB reported building confidence continued to remain strong at 68. The first real estate marketplace run entirely off Blockchain was being launched in New York.
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