Ten Years After The Crash, Gen-X Homeowners Still Lagging Behind

Today’s News Synopsis:

Homeowners of Generation X are the ones that are still hurting the most from the Housing Crash and having trouble gaining equity in their homes.  The NAHB reported builder confidence decreased this month, although it continues to stay strong.  A record number of homes was sold this month to international buyers.

In The News:

Zillow – “Gen X Homeowners Lag Behind in Building Equity, Showing Scars from Housing Crash” (7-18-2017)

“Gen X homeowners bore the brunt of the housing crash, and it still shows a decade later as they lag behind in gaining equity in their homes, according to the new Zillow Home Equity Report.”

Bloomberg “Wealthy Investors Are Leaving Hedge Funds for Real Estate” (7-18-2017)

“Wealthy investors boosted bets on real estate and left hedge funds and equities as concern over high valuations and geopolitical risk push them back to basics.”

CNBC – “Foreigners snap up record number of US homes” (7-18-2017)

“Foreign purchases of U.S. residential real estate surged to the highest level ever in terms of number of homes sold and dollar volume.”

NAHB – “Builder Confidence Slips Two Points in July, Remains Solid” (7-18-2017)

“Builder confidence in the market for newly-built single-family homes slipped two points in July to a level of 64 from a downwardly revised June reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI)”

CoreLogic – “CoreLogic Trestle Achieves RESO Platinum Certification” (7-18-2017)

“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, announced today that clients of Trestle™ can now obtain Platinum-level data dictionary certification from the Real Estate Standards Organization (RESO)”

New York Times – “The Cost of a Hot Economy in California: A Severe Housing Crisis” (7-18-2017)

“A full-fledged housing crisis has gripped California, marked by a severe lack of affordable homes and apartments for middle-class families. The median cost of a home here is now a staggering $500,000, twice the national cost. Homelessness is surging across the state.”

Forbes “7 Powerful Benefits to Mobile Home Park Investing” (7-18-2017)

“Today- ­ the real estate market is tough.  Single family homes are being scooped up by homeowners attempting to get their next home before interest rates rise.”

Bruce Norris will be presenting his latest talk 10 Life-Changing Days of a Real Estate Investor with InvestClub for Women on Wednesday, August 16.

Bruce Norris will be presenting his latest talk 10 Life-Changing Days of a Real Estate Investor with SJREI on Thursday, September 14.

Bruce Norris will be presenting Cashing In On A Boom up in San Jose on Saturday, September 16.

Looking Back:

Julian Castro was under scrutiny by the U.S. Office of Special Counsel for his violation of the Hatch Act.  The NAHB reported builder confidence continued to hold firm this month, having only decreased by one point to 59.  A recent survey by the Center for Responsible Lending showed that voters prefer to have more financial regulation.

 

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.

 

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