Norris Bruce
Jun 03, 2019

Too Much Student Debt=Millennials Can’t Afford Homeownership

Today’s News Synopsis:

What is the biggest thing holding millennials back from becoming homeowners?  Student loan debt.  Fannie Mae and Freddie Mac announced today the completion of their new UMBS program.  Although affordable housing is possible for both builders and buyers, there is still one problem.

In The News:

Armstrong Economics “Millennials Saddled with Student Loans that Prevents them from Becoming Homeowners” (6-3-2019)

“New findings are out from the New York Federal Reserve that reveal a troubling outlook for millennials who have now reached over US$1 trillion of debt, but the worst of it is student loans.”

Forbes “Affordable Housing Is Doable For Builders And Buyers, But Here’s The Problem” (6-3-2019)

“As home prices rise across the country, middle-class Americans and first-time home buyers often struggle to find housing within their budgets.”

NAHB – “Builders Call on Congress to Address Housing Affordability Challenges” (6-3-2019)

“As the National Association of Home Builders (NAHB) celebrates National Homeownership Month in June, builders are urging Congress to address America’s housing affordability challenges.”

Bloomberg “Fannie-Freddie Revamp Risk for Trump: Higher Mortgage Costs” (6-3-2019)

“Fannie Mae and Freddie Mac’s watchdog has a vision for ending U.S. control of the mortgage giants that hinges on the companies holding more capital.”

HousingWire – “Non-QM lending is on the rise, but here’s why it’s not the subprime of the past” (6-3-2019)

“There were many causes of the housing crisis, but near the top of the list (if not at the top) was the rise of subprime lending and its subsequent impact on the secondary mortgage market.”

Realtor.com “Buying a House?  Here’s How to Ensure Your Confidential Financial Details Remain Secure” (6-3-2019)

“Buying a home is a complicated process that involves sharing sensitive information with multiple people. And the latest major data leak highlights the risk consumers take on when they share that information.”

DS News “Fannie Mae and Freddie Mac Launch UMBS” (6-3-2019)

“On Monday, Fannie Mae and Freddie Mac marked the completion of their Single Security Initiative with the launch of the Fannie Mae and Freddie Mac marked the completion of their Single Security Initiative with the launch of the Uniform Mortgage-Backed Security (UMBS).”

Curbed “Prefab kit home comes together like Lego bricks” (6-3-2019)

“In 2017, Australian company Ecokit raised thousands of dollars on Indiegogo for a modular housing kit that enabled people to build sleek, modern homes in just three weeks. Two years later, that conceptual kit of parts has evolved into real, habitable homes.”

 

California Real Estate Investor Events

Aaron Norris will be moderating the ADU Panel for SDCIA on Tuesday, June 11.

Bruce Norris will be speaking at the Southern California Appraisal Institute’s 22nd Annual Inland Empire Market Trends on Thursday, June 13.

Bruce and Aaron Norris will be speaking at the NSDREI 15th Anniversary Dinner Party on Tuesday, June 18.

 

 

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