Yes, But At A Slower Pace

Today’s News Synopsis:

Has the mortgage forbearance curve flattened?  Despite yesterday’s story that builder confidence has improved, housing starts decreased to their lowest level in five years last month.  Even in the midst of the pandemic, most real estate investment trusts are still receiving their rent….minus retail.

In The News:


MarketWatch “Housing starts slide to lowest level since 2015 in April as the pandemic gave builders pause” (5-19-2020)

“Builders could see an opportunity in the months ahead if Americans choose to embrace the work-from-home life.”

Redfin “Homebuyer Demand Outpaced Supply Mid-Pandemic, Leading to Lower Sales and Preventing Price Declines” (5-19-2020)

“Supply of homes for sale was down 24% from a year ago in April and new listings fell by 42%, but home prices were still up 5%.”

Inman “How to identify and avoid internet scams during COVID-19” (5-19-2020)

“COVID-19 brought about a set of new obstacles to industry professionals, including an increased risk of cybercrime.”

Mortgage Bankers Association “Share of Mortgage Loans in Forbearance Increases to 8.16%” (5-19-2020)

“The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance increased from 7.91% of servicers’ portfolio volume in the prior week to 8.16% as of May 10, 2020. According to MBA’s estimate, 4.1 million homeowners are now in forbearance plans.”

CNBC “Most real estate investment trusts are still getting their rent, except in the retail sector” (5-19-2020)

“The economic effects of the coronavirus outbreak continue to roil real estate markets, but properties owned by real estate investment trusts (REITs) are still getting most of their rent.”

HousingWire “Has the mortgage forbearance curve flattened?” (5-19-2020)

“It’s been nearly two months since the number of borrowers who need forbearance on their mortgage began spiking due to coronavirus shutdowns, but it looks like the forbearance curve may be flattening.”

Business Insider “A pizza lover discovered that the local pizzeria she thought she’d ordered from was actually Chuck E. Cheese, highlighting a popular tactic that many restaurants use”

“Support local businesses — that’s just what one Philadelphia Grubhub user wanted to do when she ordered from Pasqually’s Pizza.  But when the pizza arrived, it looked just a little too familiar.”

Forbes “New Study Explores How Coronavirus Has Impacted Buyers In The Real Estate Market” (5-19-2020)

“No one is denying that the spread of coronavirus has had a profound impact on buyer confidence in the real estate industry.”


California Real Estate Investor Events

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.

Bruce and Aaron Norris will be presenting Keep-Sell-Create in Sacramento on Saturday, June 20.

The Norris Group presents its award-winning black-tie event I Survived Real Estate 2020 on Friday, September 18.


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