Real Estate

Expert economists: Latest drop in homeownership no big deal

Don’t worry, buying homes just at lowest since 1965
Although homeownership rates hit their lowest level since 1965, some experts say that the change reflects more trends in the rental market than in housing. Others, while concurring that the data shows a lot about rental trends in the market, disagree about the gravity of the decreasing homeownership rate.
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U.S. expands investigation into money laundering by foreign cash buyers

Government finds evidence of suspicious activities in high-end real estate
The federal government revealed Wednesday that its investigation into foreign buyers using high-end U.S. real estate as a means to launder money found that potentially illicit activity is behind a "significant" portion of the cash transactions in Manhattan and Miami, and plans to expand the investigation into Los Angeles, San Francisco, and several other areas.
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Affordability constraints hold back pending home sales

Investor activity at lowest point since 2009
Pending home sales barely moved in June as current market conditions such as low inventory and high home prices prevented more growth. Until inventory conditions markedly improve, prospective buyers are likely to run into situations of being priced out of the market or outbid on the very few properties for sale.
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Bay Area's high housing costs leave local commuter trains without engineers

New rail line cites housing costs in struggle to find employees
The famously high cost of housing in San Francisco and the surrounding Bay Area has a new commuter train line in desperate need of new engineers as candidates for the position repeatedly tell the Sonoma-Marin Area Rail Transit agency that it's simply too expensive for them to live where they’d be working.
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