Real Estate

Housing affordability at the worst level in seven years

[Infographic] Here are some possible antidotes
Home affordability is at the worst level in seven years, with one in four housing markets not affordable by historic standards. Despite the negative news, Daren Blomquist, senior vice president at ATTOM Data Solutions, did point out one positive area, which involves California's typically hot market.
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California home sales flat in August

"Flat is the new black"
California home sales wrapped up the summer on a low note, but the news doesn’t come as much of a surprise, Madeline Schnapp, director of Economic Research for PropertyRadar, said in the latest report. Schnapp explained this report similarly to how she unraveled the July report. They key to understanding is in the details.
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New York announces new requirements for maintenance of zombie homes

New regulation will hold lenders and mortgage servicers "accountable"
The state of New York is taking its fight against zombies homes to the next level, as the state announced a series of new regulations for mortgage lenders and servicers that aim to hold the companies “accountable” for the maintenance of abandoned foreclosures.
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CoreLogic: Cash sales hit record low in June

Hits below 30% for first time since 2007
Cash sales hit a new mark-they decreased to below 30% of total market sales for the first time since 2007. They still have some work to get to the pre-crisis average, which it will reach by mid-2018 if the decrease continues at its current rate.
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Here's how the new overtime labor law will change the housing industry

Salaried employees making less than $47K must be compensated for anything over 40 hours
Starting Dec. 1, 2016, overtime will have a whole new meaning since the White Collar Exemption salary threshold is about to jump by more than 100%. There’s just over two months until this law goes into effect, and with the housing industry projected to boom up to $2 trillion this year, the need for overtime isn’t going away anytime soon. Something will have to give.
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Case-Shiller results barely miss housing-boom high

Home prices increasing annually, but flat from June
Home prices rose yet again in July, and while not quite as fast as June’s pace, it did come less than a percentage point away from July 2006’s all-time high. Home prices in three cities continue to increase faster than any other city.
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Here’s proof Airbnb is destroying the New Orleans housing market

An inside look into HousingWire’s coverage
Airbnb is on the rise, but is it destroying any local housing markets in the U.S.? A story in the September edition of HousingWire’s magazine gives compelling evidence that it is — at least in the first metro we selected to review. This evidence is so compelling, in fact, that HousingWire is now making an unprecedented decision to bring the story to you.
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