We could be on the verge of a major reversal in our tight housing supply. Two new studies show that aging Baby Boomers could flood the market with homes in the coming years as they downsize or pass away. The studies warn that a sudden glut of homes could trigger a dramatic pull-back in home prices. But not all experts agree with this analysis.
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In this week's Real Estate News in Brief... the government delays a long-awaited credit scoring upgrade, foreign investors are taking a break, and condos selling for $5,000 a square foot.
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Gen Xers were hit the hardest during the housing collapse, but they are now the only generation to fully recover what they lost. A new study shows that Generation X households had more to lose because they had most of their wealth wrapped up in their homes. But since then, they’ve come roaring back with a current net worth that’s about $20,000 more than it was in 2007.
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More and more parents are getting input from their children when they buy homes. A new survey also shows what features kids typically want in a new home. But experts are warning parents to be careful about how they engage their children in real estate decisions, or the benefits could backfire.
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What would California’s three new housing markets look like if voters choose to split the state into three new states? The Proposition 9 voter initiative was headed to the November ballot, but while this podcast was being written, it was pulled from the ballot by the state Supreme Court. The court did not “kill” the measure however. It only postponed a debate on the issue for a future election. In the meantime, real estate data company ATTOM Solutions is providing us with an analysis on what the three new housing markets would look like.
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We haven’t seen the kind of inflation you might expect from this bull-run economy. As the Federal Reserve hikes short-term interest rates to keep inflation under control, consumer prices have remained on the low side. They have finally risen above the Fed’s 2% sweet spot, but there’s a new debate brewing on the accuracy of our inflation readings because of the so-called “Amazon Effect.”
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In this week's Real Estate News in Brief... we have mortgage rates that predict elections, a tax reform lawsuit against the Federal government, and a subterranean treasure trove of diamonds.
As the largest generation in American history, Millennials are a huge part of our future economy. But unlike their predecessors, Millennials are either opting out of homeownership or running into major roadblocks. According to an Urban Institute report, this phenomenon is a big risk to the American Dream and is something that needs to be addressed.
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We may soon have more control over our credit reports, if legislation passes in the Senate to “fix” our credit reporting system. Republican Senator John Kennedy of Louisiana and Democratic Senator Brian Schatz of Hawaii are co-authoring the bill to make it easier for consumers to access their credit records, for free, and to easily correct any errors.
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The Bay Area economy is so big, it ranks 19th in a list of the world’s top 25 national economies. A new report from the Bay Area Economic Institute says it is growing at twice the rate of the U.S. economy, and is bigger than banking powerhouse Switzerland and oil-rich Saudi Arabia.
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In this week's Real Estate News in Brief… a big-time bet for SFR demand, an all-time high for U.S. rents, and a major milestone for the sizzling Florida economy.
Consumers can wield a mighty stick when it comes to online reviews, and the California Supreme Court just decided an important case in support of that stick along with free speech rights on the web. The justices ruled that Yelp cannot be forced to remove negative posts. It’s a heads-up to anyone providing a service, including those in the real estate business, to be mindful of what people can say about you on the internet -- because once those reviews are up there, they are difficult to take down.
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Foreign investors have not lost their love for U.S. real estate. A new report from the National Association of Realtors shows that almost 20% of all U.S. realtors closed a deal with an international client last year. A third of them say they’ve noticed a big increase in clients from other countries over the past five years.
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If you have an Android phone or a Yahoo email address, there’s new research that shows you are more likely to default on a loan. It’s a study out of Germany on how a person’s digital footprint can predict the likelihood of default, and includes a lot of information you may not think is publicly available or relevant to your financial situation. But, researchers claim their study could have wide-ranging implications for lenders who may want more than just a credit score.
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In this week's Real Estate News in Brief... we have a hot housing market transition, a missed opportunity for millennials, and a new short-term rental boom.
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U.S. consumers appear to be doing better financially than they were five years ago. A 2017 survey by the Federal Reserve found that 74% of adults feel they are living comfortably or “doing okay.” The report says: “Self-reported financial preparedness has improved substantially over the past five years.” But, there are still a large number of people who are “not” prepared for a even minor emergency.
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Times are changing. It used to be that high end gold course communities were in demand. But in recent years, the number of regular golfers has declined, and some golf experts go so far as to say the sport is “dying.” That may be a stretch at this point, but if the decline continues, we could see vast amounts of golf course acreage open up for other purposes. In fact, it’s already happening in some areas.
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Every year for the past 30 years, researchers at Harvard University have put together a comprehensive report on the housing market. On this 30th anniversary of the report, researchers say that housing challenges persist, and in some ways are worse than they were in the 1980s.
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In this week's Real Estate News in Brief... housing inventory hits a new low, six-figure pay checks that qualify for affordable housing, and the end of a popular marketing tool for realtors.