Today’s News Synopsis:
Could we be seeing the next recession by 2020? Mortgage rates are at their lowest in three years with 30-year rates at 3.75% and 15-year rates at 3.18%. Which city has the number one stable housing market in the country?
In The News:
Freddie Mac – “Mortgage Rates Near Three-Year Lows” (7-25-2019)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that mortgage rates dropped across the board after rising slightly last week.”
MarketWatch – “This city has the No. 1 most stable housing market in the country” (7-25-2019)
“Buying a home in Boulder, Colo., is still the safest bet. For the fifth year in a row, Boulder ranked as the best housing market nationwide based on home price growth and stability, according to a new report from SmartAsset.”
Zillow – “Next Recession Will Begin in 2020, Experts Say” (7-25-2019)
“The United States set a record for the longest economic expansion this month, and it is expected to go on even longer. The next recession will likely begin in 2020, according to a panel of housing experts and economists.”
Business Insider – “After years of resisting buying property, millennials are planning on real estate to build long-term wealth” (7-25-2019)
“While millennials have long been called out for not buying real estate as quickly as their parents’ generation did, it turns out that it’s not because they don’t want to.”
“Amid the shuttering of many brick-and-mortar stores and slow growth in retail spending overall, there is one bright star: home improvement stores.”
DS News – “New Bill Encourages Homeownership Counseling” (7-25-2019)
“A new measure passed by the House Financial Services Committee recently could help more low-income households achieve their dream of homeownership.”
Bloomberg – “Homeownership Rate in the U.S. Falls to the Lowest Since 2017” (7-25-2019)
“The U.S. homeownership rate fell to the lowest level in more than a year as rising prices and a tight supply of starter homes put buying out of reach for many renters.”
Inman – “OpenDoor and Zillow merge business models” (7-25-2019)
“The business models of the two iBuyers are converging, an interview at Inman Connect Las Vegas revealed.”
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with OC FIBI on Tuesday, August 6.
Bruce and Aaron Norris will be hosting a Florida Boot Camp in Fort Myers Florida August 15-16.
Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with InvestClub on Wednesday, August 21.
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with WEREP on Friday, August 23.
What was America’s favorite home décor item by state? HUD and the U.S. Census Bureau reported a 5.3% decrease in new home sales the previous month. Apparently, a lot of people in Silicon Valley were experiencing “buyer fatigue” as sales were dropping more here.
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