Where Are The Millennial Top Ten?

Today’s News Synopsis:

Where are the top ten places for millennials to buy a home?  New lending rules could affect 50,000 mortgages according to the FHA.  The National Association of Realtors reported existing-home sales increased greatly by 11.8% in February.

In The News:

HousingWire – “FHA says as many as 50,000 mortgages will be affected by new lending rules” (3-25-2019)

“Two weeks ago, the Federal Housing Administration took steps to mitigate risks to its single-family portfolio, announcing updates to its TOTAL Mortgage Scorecard that will flag some loans for manual underwriting.”

National Association of Realtors “Existing-Home Sales Surge 11.8 Percent in February” (3-25-2019)

“Existing-home sales rebounded strongly in February, experiencing the largest month-over-month gain since December 2015, according to the National Association of Realtors.”

Forbes “Ignore The “3-T’s” – Try NetLease Real Estate ETF Instead” (3-25-2019)

“With all due respect to anyone renting right now, dealing with tenants can be a giant pain in the neck.  Unless we’re talking about a slumlord or some other kind of unethical real estate baron – and yes, I fully acknowledge those do exist – most landlords tend to work very hard for their income.”

Redfin – “With Market Share Near 7% in Phoenix, iBuyers Contribute to the Area’s Relatively Strong Home Price Growth” (3-25-2019)

“Institutional buyers, known as iBuyers, are taking up a growing share of Phoenix home sales.  iBuyers are companies—like RedfinNow, Zillow and Opendoor—that make instant cash offers to home sellers and close within days without any listings or showings, with the intent to re-sell for a profit.”

Realtor.com “Where 20-Somethings Actually Buy Homes: The 10 Hottest Cities for Young Millennials” (3-25-2019)

“As much as pigeonholing millennials has become widely accepted sport (Selfie sticks! Avocado toast! Gross entitlement!), you can’t really squeeze the ginormous mass of Americans born between 1981 and 1996 into one eco-friendly, sustainably produced basket.”

Curbed “8 ways cities are transforming urban rooftops” (3-25-2019)

“Over the past few years, a sweeping construction boom has rendered U.S. cities ever denser, but there’s one type of urban space that’s still an untapped resource: rooftops.”

Barron’s “A Recession May Be Coming, but Not for Commercial Real Estate Investors” (3-25-2019)

“Financial headlines have been full of worries about a possible recession and a downturn in commercial real estate markets.  Recessions often precipitate a decline in real estate markets, but long periods of increasing construction and rising property prices may pose risks of their own.”

Bloomberg “Homebuilders On Pace for 6-Month Closing High” (3-25-2019)

“Homebuilders extended a three-day rally Monday, sending the S&P Supercomposite Homebuilding Index up as much as 5.8 percent during the advance — the most in three days since late January.”

 

California Real Estate Investor Events

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn at the AOA Million Dollar Trade Show on Wednesday, April 17.

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn with Pasadena FIBI on Thursday, April 18.

 

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