Today’s News Synopsis:
Which is better to buy, the old house or new one? Housing starts were at their highest since the end of the recession in May, having increased 5% to 1.35 million units. According to a recent Harvard study, the housing market continues to show progress despite inequality in the market.
In The News:
NAHB – “Housing Starts Reach Post-Recession High in May as Permits Soften” (6-19-2018)
“Total housing starts rose 5 percent in May to a seasonally adjusted annual rate of 1.35 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department”
“Harvard’s annual report shows that housing shortages are pushing housing costs up, and pricing out low-income Americans.”
Builder Online – “Single-Family Rental Companies Are Cozying Up to Home Builders” (6-19-2018)
“The burgeoning single-family rental business, shut out of much of the housing market by a lack of inventory, is now eyeing new-home stock for the product it needs.”
CoreLogic – “CoreLogic Reports Continued Stabilization of the Low-End Rental Market” (6-19-2018)
“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and among 20 metropolitan areas”
National Mortgage News – “Small lenders urge FHFA to let Fannie and Freddie rebuild capital” (6-19-2018)
“Days after the Federal Housing Finance Agency proposed a risk-based capital regime for Fannie Mae and Freddie Mac, industry groups representing smaller lenders called on the agency to take more immediate steps to release the two government-sponsored enterprises from conservatorship.”
Realtor.com – “Old House vs. New House: Which Is Better to Buy?” (6-19-2018)
“Old house vs. new house: If you’re shopping for a place to live, this may be one of your primary decisions.”
MarketWatch – “Housing in America: where’s the progress?” (6-19-2018)
“Housing in America may be a microcosm of the nation itself: a bit less dynamic, far more costly and uncomfortably more unequal than we’d like.”
FEE – “Housing: The Case for YIMBY (Yes, In My Back Yard!)” (6-19-2018)
“You hear that a private developer plans to build a new apartment building across the street. What does that mean to you?”
Bruce Norris will be speaking at the NSDREI 14th Anniversary Dinner Party TONIGHT.
Bruce Norris will be speaking at the Stay Put or Cash Out with LA South REIA on Monday, July 9.
Bruce Norris will be speaking at the ThinkRealty Irvine Conference & Expo on Saturday, July 14.
A recent report from GoBankingRates showed which cities were seeing the cost of living increase the most. In addition, Realtor.com released its own list of the top cities where homes listed at $1 million and more were increasing. Fannie Mae just released their economic and housing outlook report for the month of June, and they expected growth to continue 2% this year.
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