Norris Bruce
Jan 14, 2020

More Than Half Are In Los Angeles, San Francisco and New York

Today’s News Synopsis:

How many million-dollar cities are there in the U.S.?  What bargains are playing hide-and-seek in the biggest cities?  Mortgage delinquencies were at their lowest in 20 years in October.

In The News:

Realtor.com “Living High on Low Rent: Where the Bargains Are Hiding in America’s Biggest Cities” (1-14-2020)

“How would you like your 2020 housing affordability crisis served up? Chilled, with a stark chaser of home buyer’s anxiety, or red-hot, with an extra helping of simmering renter’s anguish?”

Zillow “There are 218 Million-Dollar Cities in the U.S., But the Stream of New Entrants is Running Dry” (1-14-2020)

“There are currently 218 million-dollar cities in the U.S. — cities with a typical home value of $1 million or more — three more than at the end of 2018 and 74 more than there were five years ago.”

Inman “What investors are looking for in 2020” (1-14-2020)

“As inventory tightens, many are hoping that homebuilders will offset steep competition for properties.”

Yahoo Finance “Top trends impacting commercial real estate in 2020” (1-14-2020)

“Avison Young today released its global 2020 Forecast, including ten trends to know for 2020, and national and local property market outlooks for markets around the world”

Corelogic “CoreLogic Reports U.S. Overall Delinquency Rate Lowest for an October in at Least 20 Years” (1-9-2020)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report.”

Domino “Real-Estate Agents Think These Are the 3 Most Enticing Home Features” (1-14-2020)

“When you’re looking for a new home, you probably have at least a few specific must-haves in mind.”

SF Gate “6 Life-Changing Products That’ll Modernize Your Garage” (1-14-2020)

“If you’re thinking about revamping your garage to be more efficient, here are the expert-approved items to consider—most under $120.”

Salon “Do Craft Breweries Gentrify Neighborhoods?  It’s Complicated” (1-14-2020)

“No up-and-coming neighborhood is complete without its own hip craft brewery to match. Indeed, there are now more than 8,000 craft breweries in the U.S., and they have become a ubiquitous feature of the urban landscape.”

Mercury News “East Bay City To Look At Ways To Jumpstart Housing” (1-14-2020)

“With the Bay Area’s housing crisis leaving people priced out of purchasing a home and forcing others to live in tents, the City Council wants to look at ways to get more homes built in Hayward.”

 

California Real Estate Investor Events

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with CVREIA TONIGHT.

Bruce Norris will be presenting Turmoil: The Coming Storm of Negative Interest Rates on Saturday, February 1.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with LA South REIA on Monday, February 10.

 

Looking Back:

American Dream.  Sadly, the group getting pushed out of the market was the millennials, although this wasn’t the first time.  The idea that it was cheaper to rent than buy may only have applied in certain areas.

 

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