Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Mortgage Tech Virtual Demo Day

Tune in to our live Virtual Demo Day on December 1st at 10am CT to experience demos from the most innovative tech companies in the Servicing, Audit and Post-Close space.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Investments

The amount of money in our paychecks is slowly increasing

Wages cannot keep up with rising employment

Although unemployment is near a historic low, wage growth continues to threaten U.S. economic recovery, according to an article by Lydia DePillis for CNN.

The Bureau of Labor Statistics' Current Employment Survey’s data on the private sector states, when adjusted for inflation average weekly earnings rose 0.3% in May to $928.74, from 2017. However, although earnings increased from 2014-2015, they remained stagnant when workers did not continue at the same pace, according to the article.

From the article:

For workers who don't manage others, earnings growth has slowed. When taking a look at production and non-supervisory workers, who don't manage other people, earnings have been functionally flat for the past two years.

This data set divides their earnings by the hour rather than the week and found that wages for this group have only risen 7 cents since May 2016, to an average of $22.59 per hour. By comparison, earnings for all workers, including managers, have grown by 16 cents, to an average of $26.92 an hour

The national decrease of unemployment means employers have more pockets to fill, but healthcare, insurance, retirement, paid leave and other benefits make employees too expensive, according to the article.

The article states that despite a low unemployment rate, wage growth has not managed to increase in a manner that will meaningfully improve the lives of American workers. As it stands, workers need to earn much higher than minimum wage if they hope to make it onto the property ladder.

 

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3d rendering of a row of luxury townhouses along a street

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