Today’s News Synopsis:
Buy or rent? How much does having a roommate change the equation? The main institutions that are moving in to fill in empty retail space are churches. Amazon’s adding a new product to their already growing online retail: tiny homes.
In The News:
Realtor.com – “Does Rent Control Impact Crime Rates? These Economists Have the Answer…” (10-11-2017)
“Rent-control policies are a cause célèbre advocated by progressive politicians such as New York City Mayor Bill de Blasio and U.K. Labour Party leader Jeremy Corbyn.”
The Real Deal – “Hallelujah! Churches are stepping up to fill vacant retail space” (10-11-2017)
“Have you heard the one about the priest who walks into a vacant shopping center? As retail’s struggles continue across the country, landlords have started to expand the types of tenants they look at to fill vacancies, and churches are now getting more consideration, according to the Wall Street Journal.”
Freddie Mac – “Freddie Mac Prices Last Planned High LTV Deal of the Year” (10-11-2017)
“Freddie Mac (OTCQB: FMCC) today priced a $600 million Structured Agency Credit Risk (STACR®) debt notes offering, the third and last planned high LTV deal of the year. Through STACR, its flagship credit risk transfer (CRT) offering, Freddie Mac transfers a portion of its mortgage credit risk on certain groups of loans to private investors.”
Mortgage Bankers Association – “Mortgage Applications Decrease in Latest MBA Weekly Survey” (10-11-2017)
“Mortgage applications decreased 2.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 6, 2017.”
Trulia – “Rent vs. Buy: Roommate Edition” (10-11-2017)
“It’s still better to buy than rent, but in some markets, having a roommate changes the equation.”
HousingWire – “Rental market finally starts cooling down” (10-11-2017)
“The national average rent held steady for the fourth consecutive month in September, indicating the market may be starting to cool off, according to the latest report from RENTCafé.”
Apartment Therapy – “Amazon Will Now Deliver a Tiny House Directly to Your Door” (10-11-2017)
“No longer content to just deliver everything under the sun to your house, Amazon will now deliver you an actual house. A shipping container house to be specific. MODS International has now made their shipping container home shockingly easy to order, all it takes is a few clicks and small space sustainable living can be yours.”
Bloomberg – “Fed Minutes Show Support for Next Hike Was a Close Call for Some” (10-11-2017)
“Federal Reserve officials held a detailed debate last month over whether forces holding inflation down were persistent or temporary, with several policy makers looking for stronger evidence of price gains before supporting a third interest-rate hike this year.”
Aaron Norris will be presenting Technology Trends and Real Estate with the California Escrow Association up in San Jose on Friday, October 13.
Bruce Norris presents his California Market Update with Chino Valley Real Estate Professionals on Friday, October 13.
Bruce Norris will be presenting 10 Life-Changing Days of a Real Estate Investor with Robert Hall & Associates on Wednesday, October 18.
In a big news story, the U.S. Court of Appeals for the District of Columbia declared the CFPB’s structure “unconstitutional” and overturned a $109 million fine by the organization against PHH Corp. 370,000 foreclosures were completed the previous month according to CoreLogic. Fannie Mae’s mortgage portfolio continued to dwindle down with their first sale of reperforming loans.
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.