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Real estate market in Austin dominated by international buyers, says new report
Source: Fox 7 News --- AUSTIN, Texas - The Austin real estate market has been very hot over the last couple of years, and that's especially true when it comes to international home buyers. A new report showing more and more people from around the world are buying...
Economic recession or not, the housing market recession is here
Source: firsttuesday Journal --- Earlier in 2022, an economic recession seemed inevitable by year’s end. Two consecutive quarters of negative gross domestic product (GDP) — typically the main indicator of a U.S. recession — along with the bear market experienced in...
Mortgage lenders expect the housing market to worsen in 2023
Source: firsttuesday Journal --- Following record lender profits in 2021, 2022 has mortgage lenders packing their bags and heading for the exits. The Mortgage Bankers Association (MBA) believes the U.S. will enter a recession in the first half of 2023. The MBA expects...
US home prices falling 15% looks “conservative”: KPMG
Source: The Real Deal --- An economist is predicting home prices could decline much more than anticipated as the housing bubble begins to pop. A 15 percent drop in home prices for next year is “very conservative,” KPMG chief economist Diane Swonk told Fortune. Swonk’s...
‘No One Wants To Catch a Falling Knife’: What To Expect in the Housing Market for the Rest of 2022
Source: Realtor.com --- What a difference just a few months can make. As the year comes to a close, the red-hot housing market has been brought to its knees by soaring mortgage interest rates. It now appears to be in a standoff as just about everyone suddenly feels...
Here’s why it may take a while for housing inflation to cool off
Source: CNBC --- There are signs inflation may fall further in coming months, but housing threatens to mute any improvement. The consumer price index, a key barometer of inflation, rose 7.7% in October from a year ago. While still quite high by historical standards,...
