Today’s News Synopsis:
What is the latest reason millennials are not buying homes? The Mortgage Bankers Association reported mortgage applications decreased 1.5% from the last two weeks. The shortage of homes is getting worse for all types of houses, even luxury.
In The News:
Mortgage Bankers Association – “Mortgage Applications Decreased Over Two Week Period in Latest MBA Weekly Survey” (1-8-2020)
“Mortgage applications decreased 1.5 percent from two weeks earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 3, 2020. The results include adjustments to account for the holidays.”
Redfin – “Bidding War Rate Fell to Another 10-Year Low in December” (1-8-2020)
“Nationwide, just 9% of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war in December, down from 12% a year earlier and setting another new 10-year low.”
HousingWire – “U.S. economy adds 202K jobs in December” (1-8-2020)
“U.S. employers welcomed more than 200,000 employees to the jobs market in December, according to ADP Research Institute and Moody’s Analytics.”
Apartment Therapy – “The “Outbox” Method is a Proven Way to Make Decluttering Less Stressful” (1-8-2020)
“The hardest part of decluttering is making choices about what should stay and what should go. That’s why your best weapon in The War Against Stuff is a simple little thing we like to call ‘the outbox.'”
Realtor.com – “6 Energy-Saving Myths You Need to Stop Believing Right Now” (1-8-2020)
“The new year is a time for making resolutions, and for many of us, saving energy inside the home is at the top of the list.”
Forbes – “Will 2020 Be A Good Year To Invest In Real Estate By Buying A Home?” (1-8-2020)
“Being the CEO of a real estate listings platform based in New York comes with a lot of responsibilities and a couple of perks — one of which is having a front-row seat to the decisions that consumers in New York City make daily regarding their next home.”
Inman – “The latest reason millennials aren’t buying homes? Houseplants” (1-8-2020)
“Millennials account for billions of spending annually on lawn and garden products.”
CNBC – “The shortage of homes for sales is getting much worse, even in luxury” (1-8-2020)
“December is not the most popular time to list a home for sale historically, but this past December it was particularly unpopular.”
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with OCREIA on Thursday, January 9.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with CVREIA on Thursday, January 14.
Bruce Norris will be presenting Turmoil: The Coming Storm of Negative Interest Rates on Saturday, February 1.
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