Norris Bruce
Jan 29, 2020

Push ‘Em Down, Push ‘Em Down, Way Down!

Today’s News Synopsis:

Even lower interest rates are what most first-time homebuyers want the most from the government.  The National Association of Realtors reported pending home sales decreased 4.9% last month.  Mortgage applications, on the other hand, increased 7.2% from last week.

In The News:

Redfin “Survey: What Do First-Time Homebuyers Want From the Government?  Lower Interest Rates” (1-29-2020)

“Interest rates are currently at historic lows, but 66% of first-time homebuyers would like them to be even lower according to a new survey conducted by Redfin.”

HousingWire “Is the U.S. in a housing bubble?” (1-29-2020)

“It goes without saying: The news that home prices are going up is good or bad depending on who you are.”

National Association of Realtors “Pending Home Sales Skid 4.9% in December” (1-29-2020)

“Pending home sales fell in December, taking a step back after increasing slightly in November, according to the National Association of Realtors.”

Curbed “Could a 35-story, all-wood skyscraper cut housing costs?” (1-29-2020)

“A “pure timber” proposal from Sidewalk Labs might make building homes cheaper and more climate-friendly”

CoreLogic “CoreLogic Natural Hazard Report Reveals Serious Delinquency Rates Tripled in Recent Disaster-Affected Regions” (1-29-2020)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its annual Natural Hazard Report including a look back at communities affected by wildfires, hurricanes, tornadoes and earthquakes in 2019.”

Realtor.com “Rent vs. Buy: The Best Places to Become Homeowners – or Remain Renters” (1-29-2020)

“The most important question for many potential home buyers isn’t about the quality of the local school districts, whether mortgage interest rates will fall, or commute times.”

Forbes “HUD Issues New Guidance On Reasonable Accommodations For Assistance Animals” (1-29-2020)

“The U.S. Department of Housing and Urban Development released guidance today that clarifies how housing providers can comply with the Fair Housing Act when assessing a request from a person with a disability to have an assistance animal.”

Mortgage Bankers Association “Mortgage Applications Increase in Latest MBA Weekly Survey” (1-29-2020)

“Mortgage applications increased 7.2 percent from one week earlieraccording to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 24, 2020.”

 

California Real Estate Investor Events

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.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with OC FIBI on Tuesday, March 3.

 

Looking Back:

At this time last year, they were trying to make hotels available in the most unusual space…..literally.  Even real estate advice can become obsolete according to Realtor.com, and they gave the best, well, former best advice to now ignore.  In 20 cities across the U.S., home prices saw the least increase in four years

 

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