Items Tagged with 'affordability'

ARTICLES

  • NAR: Rising home prices push prospective buyers out of market

    Low inventory persists in suppressing housing market
    Home prices increased in the third quarter due to the continued low levels of housing inventory, keeping many potential homebuyers out of the housing market. While national family median income increased to $76,608 in the third quarter, due to rising home prices and mortgage rates, affordability is down.
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  • Housing options disappear for low-income renters

    Even high-income renters struggle to find units
    Low income renters are struggling with housing needs as they fight against competition for the shrinking number of affordable units. And they aren’t the only ones struggling to find inventory. The study also found that inventory is limited for high-income renters.
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  • Redfin: Home prices post smallest increase in 6 years

    Buyers turning to the Midwest and South for affordable homes, lower cost of living
    In September, home prices posted the smallest increase in six years, according to the latest data collected from Redfin. Redfin Chief Economist Daryl Fairweather said rising mortgage rates, paired with already high home prices, are giving pause to homebuyers in expensive West Coast markets.
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  • Joel Kan: 3% to 4% growth predicted for the purchase market

    Refinance market still slated to struggle
    The purchase market is due for a rebound, according to Joel Kan, MBA associate VP of industry surveys and forecasts. Kan told members of the audience in a Q&A session at MBA Annual that current macroeconomic trends should create a swell for the purchase market – good news for the flagging mortgage market.
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  • Apartment List: Housing legislation can't make it through Congress

    Out of 10,222 bills introduced so far this term, only 115 had to do with housing
    Out of the 10,222 bills introduced so far in the 115th Congress, only 115 of those had to do with housing and of those 115, not a one made it to the Oval Office. According to a report from Apartment List, despite growing national concern regarding the housing affordability crisis, what few potential solutions are being put forth, can’t make through Congress because they are not a priority.
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  • The jury is in: This cycle ends in 2020

    Wall Street Journal survey reveals 59% of economists predict a slowdown in 2020
    We have been hearing about this for a while now, but the jury is finally in: Most economists predict this up cycle will end in 2020. America may have less than two fat years to make hay while the sun is still shining on the economy.
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  • CBS: 3 reasons to worry about the housing market

    Article warns looming issues could cause strain
    Trouble is brewing in the U.S. housing market, some claim, asserting fear that another housing bubble could be on the horizon. A CBS article said “storm clouds are gathering,” pointing to three factors it called worrisome for the future of the housing market.
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  • Realtor.com: Home prices are rising 3 times faster than rents

    This could mean further reinforcement for multifamily demand for the foreseeable future
    According to Realtor.com, home prices are rising at three times the rate of rent growth. A new analysis by the real estate company’s research division shows that the monthly costs of buying a home have risen by 14% over the past year while rents have only increased by 4%. That's likely to keep people renting.
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  • NAA: Multifamily parking ratios lowest since 1960s

    Impending autonomous cars, ride-sharing, affordability, legislation are pushing parking ratios down
    Parking ratios for multifamily properties are falling in most metros thanks to urbanization and changing attitudes toward car ownership. According to a study from the National Apartment Association, over the last decade, the average parking ratio per unit dropped to 1.46, the lowest it has been since the 1960s.
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