Consumer Confidence in Housing Hits All-Time High
Borrowers rush to beat rising rates, pushing mortgage volume 3.3% higher
U.S. Home Flipping Increases 3 Percent in 2016 to a 10-Year High
Mortgage Rates Hit 2017 High
Millennials drive housing confidence higher, despite red-hot prices
Guess Which Generation Is Making the Biggest Comeback in Real Estate
Airbnb just closed a $1 billion round and became profitable in 2016
Danny Gokey’s real estate side job
Today’s News Synopsis:
Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup. Trump’s first month in office saw an increase in jobs, including a gain of 235,000 in payrolls. Now people are wondering what his plans are for Fannie Mae and Freddie Mac. A report from the Harvard Joint Center for Housing Studies showed rents are high in areas outside of America as well, including Canada and Spain.
In The News:
Mansion Global – “Real Estate Consultants Are Among the Key Experts in New Developments” (3-10-2017)
“Behind every new residential project, there are a number of key players: the developer; the architect; the interior designer; the sales team; and, depending on how high-profile the project, others, like an A-list restaurateur and luxury concierge.”
Bloomberg – “U.S. Jobs, Pay Show Solid Gains in Trump’s First Full Month” (3-10-2017)
“U.S. employers added jobs at an above-average pace for a second month on outsized gains in construction and manufacturing while wage growth picked up, as the labor market continued its steady improvement in the new year.”
Deutsche Welle – “Berlin real estate boom prompts tenants’ protests” (3-10-2017)
“In Berlin big real estate investment companies are facing ever more backlash from locals who fear higher rents or being pushed out of the city center.”
The New York Times – “Trump’s Plan on Fannie and Freddie? Clues May Emerge Soon” (3-10-2017)
“Fixing Fannie Mae and Freddie Mac, the mortgage finance giants that still operate under government supervision, is nowhere near the top of the Trump administration’s to-do list.”
Bloomberg – “It’s Not Just America – the Rent Is High Everywhere” (3-10-2017)
“The make-up of a country’s housing market is decided by a wide variety of factors, including history, culture, and financial regulation. In the Netherlands, for instance, roughly 30 percent of housing stock is owned by nonprofit cooperatives, while the hallmark of a U.S. home and the erstwhile American Dream is the 30-year mortgage.”
The Real Deal – “WATCH: Real Estate is having a Napster moment” (3-10-2017)
“On March 9, The Real Deal celebrated the official launch of our new real estate and research division, TRData, with a Big Data + Real Estate Forum in Midtown Manhattan.”
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with LA South REIA on Monday, April 10.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with Pasadena FIBI on Thursday, April 20.
Bruce Norris will be speaking at the AOA “Million Dollar” Trade Show & Landlording Conference in Long Beach on Wednesday, May 24.
Mortgage rates were down low enough for the spring, below their peak at this time the previous year with 30-year rates at 3.68% and 15-year rates at 2.96%. The Mortgage Bankers Association reported a 24% increase in new home purchase applications the previous month. The latest STACR transaction by Freddie Mac totalled $475 million.
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