Friday , 3 July 2015
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Housing Markets

Five Reasons to Love the Apartment Glut

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Drive by any commuter route or transit hub in a major metro today and chances are you’ll see forests of construction cranes building apartments.  America is in the middle of the biggest apartment construction boom in 25 years, a boom so big that it will change the dynamics of real estate markets coast to coast. Every trend has its end. ... Read More »

Renters Double Up to Make it Through the Night

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  With rents rising faster than home values and vacancy rates falling to the lowest levels of the post-Bubble era, something has got to give. In his presentation, “The Rent’s Too Damn High”, at the National Association of Real Estate Editors’ annual meeting, Zillow’s chief economist, Stan Humphries, put the rental crisis in a context everyone who has shared a ... Read More »

Welcome Home, First-timers!

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Not only were more homes sold in May than in any other month over the past five years, the percent share of first-time buyers rose to 32 percent in May, up from 30 percent in April and matching the highest share since September 2012. A year ago, first-time buyers represented only 27 percent of all buyers, the National Association of Realtors ... Read More »

Realtors Grow Older and Poorer

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The average Realtor made $1900 less last year than in 2013 because home sales declined and Realtor membership increased. The 2015 National Association of Realtors Member Profile also found the average Realtor is older than ever. “After gradually climbing for three consecutive years, the decline in existing-home sales in 2014 resulted in a slight reduction in Realtor business activity and ... Read More »

Millennials are Rays of Sunshine amid Clouds of Pessimism

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Remarkably negative findings from the 2015 How Housing Matters survey released this week by the MacArthur Foundation were punctuated by two critically important findings.  Attitudes on the value of housing as an excellent long term investment have flip-flopped and Millennials put a higher priority on the dream of homeownership than their elders. Though the survey found that  most Americans believe ... Read More »

In the Horse Race for Millennials, is Renting Gaining on Buying?

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Apartment rents are rising rapidly, up 3.5 percent in 2015, then they are expected to moderate to 3.0 percent in 2016 and 2.7 percent in 2017, according to the Urban Land Institute.  But home sales prices are rising even faster, tipping the scales of the rent vs buy equation towards rentals in the dollar for dollar comparisons Millennials face, according ... Read More »

How the Rent Trap is Killing Off First-time Buyers

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This is the year when the stars are aligned perfectly for record numbers of tenants to tear up their leases and kiss the renting life good-bye. Historically low mortgage rates won’t last much longer.  Home prices will only rise. New three percent down programs from Fannie and Freddie sweeten the deal for new buyers.  FHA’s mortgage insurance premium cut makes ... Read More »

New GSE Low Down Programs Lower Average Down Payments

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  New 3 percent down programs from Fannie Mae and Freddie Mac helped to lower average down payment to 14.8 percent of the purchase price in the first quarter, down from 15.2 percent in the previous quarter and down from 15.5 percent a year ago to the lowest level since Q1 2012.  However, low down payment loans by conventional lenders ... Read More »

Fed Survey: Renters More Bullish on Prices than Owners

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Renters are slightly more optimistic than owners regarding price increases, both in the coming year and thereafter, according to the new consumer survey conducted by the New York Federal Reserve Bank in February and released last week.  In fact, renters respond to the annual survey were more bullish for the second year in a row. Both renters and owners expect ... Read More »

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