Today’s News Synopsis:
What is the craziest thing you’ve ever found in a new home? You might be surprised what some people find. HUD and the Commerce Department reported a 0.8% decrease in housing starts across the nation. Out of all the voters in L.A., over half of them want to leave due to increasing rents.
In The News:
Realtor.com – “San Francisco Edges Out Washington to Become the Highest Income Big U.S. Metro Area” (9-19-2017)
“The technology hub of San Francisco surpassed the nation’s capital last year as the highest-earning large U.S. metropolitan area.”
NAHB – “Housing Production Holds Steady in August” (9-19-2017)
“Nationwide housing starts fell 0.8 percent in August to a seasonally adjusted annual rate of 1.18 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.”
The Real Deal – “59% of LA voters have considered moving because of high rents: report” (9-19-2017)
“Forget earthquakes — housing costs are driving residents out. More than half of California voters have considered moving, and 60 percent of the electorate supports rent control, the Sacramento Bee reported.”
Realtor.com – “#NewHomeProblems So Horrifyingly Hilarious, They Have Their Own Hashtag” (9-19-2017)
“Moving into a new home is exciting for sure, but it also has its share of hassles—all of which can be found in a corner of the internet with the hashtag #newhomeproblems.”
“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its latest Mortgage Fraud Report.”
HousingWire – “Massachusetts becomes first state to sue Equifax over massive data breach” (9-19-2017)
“Following through on a threat made last week, the state of Massachusetts is suing Equifax over the credit reporting agency’s massive data breach, which exposed the personal information of 143 million U.S. consumers to hackers.”
OC Register – “Majority of voters support state’s $4 billion affordable housing bond” (9-19-2017)
“A recent survey of California voters found a 51-percent majority support a $4 billion housing bond the state legislature voted to put on the November 2018 ballot, UC Berkeley reported Tuesday, Sept. 19.”
The Norris Group presents its tenth annual award-winning black tie-event I Survived Real Estate 2017 on Friday, September 22.
Bruce Norris presents his latest talk 10 Life-Changing Days of a Real Estate Investor with SF Bay Summit on Saturday, October 7.
Aaron Norris will be presenting Technology Trends and Real Estate with the California Escrow Association up in San Jose on Friday, October 13.
The NAHB reported builder confidence increased this month from 59 to 65. The National Association of Realtors released a list of markets that were down in their construction of new homes, which came out to 80% of metropolitan areas measured by the industry. The ESR group connected with Fannie Mae also released their latest housing outlook report showing an increase in the strength of the economy, although a few areas like investment in inventory and exports were still weak.
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.