Co-living appears to be doing quite well, despite the pandemic. A new report from Cushman & Wakefield shows a rent collection dip toward the beginning of the pandemic, and a rebound from there. Even though we’re still dealing with the pandemic, co-living companies are moving forward with plans for major expansions across the U.S.
California voters approved a real estate measure that will help older homeowners, but it could have a big downside for their children. Proposition 19 allows seniors, the disabled, and disaster victims to take their low property tax base with them to a new home. But it also reduces that protection for their heirs.
In this episode, reports on the GDP, unemployment, consumer spending, home sales, home prices, and consumer confidence. Also - mortgage rates, conforming loan limits, mortgage activity, the importance of friendly neighbors, and real estate gratefulness.
The Department of Housing and Urban Development is proposing a change to flood insurance rules that could bring costs down. The proposal would allow borrowers with government-backed loans to buy flood insurance from private companies instead of the National Flood Insurance Program.
As the coronavirus pandemic gets worse, some states are beginning to implement new restrictions and lockdowns on non-essential services. That’s reigniting a battle on whether real estate should be considered “essential.” Here are a few talking points in defense of the industry.
The Federal Reserve and the Treasury are at odds over the need for economic relief, while unemployment claims rise. Good news on the housing market and mortgage rates, although NAR warns about high home prices. The latest rent collection numbers, and a few words of wisdom from Jamie Dimon about the traits of a successful leader.
With Joe Biden set to become the 46th President in January, there’s plenty of talk about how his policies will impact housing. This is especially important as the red hot housing market becomes less affordable for both owners and renters, and builders are unable to fill the inventory gap.
Biden’s plan includes a $15,000 tax credit for first-time homebuyers, expansion of the Section 8 voucher program, and billions of dollars for new construction, renovations, and energy retrofits.
In this Real Estate News Brief for the week ending November 14th, 2020… homebuyers on pause, big earnings for a cloud-based national realty, and a fraud warning for landlords and property managers. We begin with economic news that was impacted by a tense political standoff over the presidential election and a surging number of coronavirus cases. Home buyers hit the pause button, and consumer confidence fell to a three-month low, but the housing market is still booming.
Hubzu’s new mobile app, Homesnap’s new home pricing tool, SafeShowings expansion in California, and a mysterious money-raise for a tech venture by ex-Zillow execs.
Hubzu is making it easier to have on-the-go access with a new mobile app. The online marketing platform gives users a way to find and bid on residential real estate auctions that include foreclosures, short sales, and retail sales. The app will give users mobile access with iOS and Android phones.
It’s the first time since the Great Depression that a majority of adults are living with Mom and Dad. Blame it on the pandemic, college closures, and job losses. A study by Pew Research shows that 52% of young people are living with one or both parents.
The latest economic news on economic policy, the job market, construction spending, mortgage rates, California rent control, zombie foreclosures, and a builder’s effort to reduce his carbon footprint.
We begin with economic news from this past week and another vote by the Federal Reserve to leave overnight interest rates right where they are, near zero.
Board members met for their monthly meeting in the midst of a contentious presidential election. It now appears that former vice president Joe Biden will be our next president, although President Trump's team is calling for recounts and litigation.
Several housing organizations filed a lawsuit accusing Redfin of a modern-day form of redlining. At issue is the level of service that Redfin offers to different communities and whether minority communities are being shortchanged. Redfin denies any discriminatory practice, saying decisions are based on legitimate business reasons.
In this Real Estate News Brief for the week ending October 31st, 2020... a report on the strength of the economic rebound, a forecast on 2030 home prices, and the primary reason that people are looking for new homes.
It’s been a volatile week for the stock market as investors worry about the pandemic and the presidential election, but there are some strong economic reports to share, including one on the third quarter GDP.
New California law gives owners, tenants, non-profits, and local governments a chance to outbid investors who buy foreclosures. It also bans the “auction bundling” of foreclosed homes, and prevents foreclosure blight with big fines.
The Mortgage Bankers Association is forecasting another busy year for lenders. It’s predicting that American home buyers will be taking out a record number of home loans in 2021 while refinancing activity slows down.
In this Real Estate News Brief for the week ending October 24th, 2020... the home buying frenzy continues, the government extends its forbearance program, and the Federal Reserve talks about the possible issuing of digital currency.
A company that helps people live “off-the-grid” in floating sea pod homes is now offering a different kind of live-work-play experience. Ocean Builders is converting a former cruise ship into a floating condominium complex off the coast of Panama for digital nomads, expats, researchers, start-ups, and crypto businesses. And you can own one for as little as $25,000.
California voters will tackle three thorny real estate issues on November 3rd. One will raise taxes on a significant group of taxpayers, while another will provide a property tax reprieve, and a third will allow new rent control measures for virtually all rental properties, including single-family homes. In this episode, you’ll hear more about Propositions 15, 19, and 21 in the 2020 California election.
In this Real Estate News Brief for the week ending October 17th, 2020, mortgage rates hit a new low, the pandemic migration hits 16 million, and condos are headed for a comeback.
We begin with economic news from this past week that shows mixed results. On the employment front, jobless claims surged to a 7-week high.
If you’re thinking about hosting a Halloween party at the end of the month, you won’t be able to do it at an Airbnb. Airbnb announced a ban on one-night whole house reservations for Halloween weekend. It’s not only a way to keep peace with the hosts and with neighbors, but a way to prevent the spread of the coronavirus.
In this Real Estate News Brief for the week ending October 10th, 2020... Fed Chief calls for more stimulus, the job market recovery cools off, and a haunted house appears on Zillow.
We begin with economic news from this past week, and comments from Fed Chief Jerome Powell about the need for more stimulus. In a speech to the National Association for Business Economics, he said it’s better for Congress to offer too much support than too little.
The Small Business Administration says it has begun PPP loan forgiveness after some frustrating delays. The Paycheck Protection Program was introduced in April, and tens of thousands of small business owners have been waiting to have those loans forgiven. Banks say the process for converting loans into grants has been complicated, but the SBA says it now expects to move quickly on the approval and payoff of those loans.
There’s a new twist on the old timeshare. It’s a start-up called Pacaso that takes the timeshare model and expands it to something closer to owning your own single-family vacation home. Instead of owning a second home and all the costs that go along with it, Pacaso finds co-owners to share the expense. Scheduling for use of the home is flexible, and allows for much greater access than a timeshare. And, Pacaso takes care of all the management.
Home buyers searching for affordable markets may be changing the political landscape. A new Realtor.com analysis shows that blue state home buyers are searching for new homes in red states. It’s unclear if these search results represent actual migrations, but they could indicate a shift in voter preferences for several important swing states. And that could have an impact on the upcoming presidential election.