U.S. Housing Market Updates
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Mortgage Application Activity Slows Down
The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 5.1% on a seasonally adjusted basis from one week earlier. Continue Reading Mortgage Application Activity Slows Down
Zillow Announces Timeline for New Listing Standards
The Seattle-headquartered company announced the standards will go into effect on May 28. Continue Reading Zillow Announces Timeline for New Listing Standards
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
Report: The Best State for Raising a Family Is…
“Raising a family has become significantly more expensive in recent years as the cost of living has risen quickly,” said Chip Lupo, analyst at WalletHub. Continue Reading Report: The Best State for Raising a Family Is…
Texas Luxury Housing Market Sales Up 10% Year-Over-Year
While only 4% of all homes sold in Texas were million-dollar homes, those properties accounted for 15.7% of all residential sales dollar volume in the state. Continue Reading Texas Luxury Housing Market Sales Up 10% Year-Over-Year
Report: The Worst Housing Market for Growth Is…
Among the states, Florida was home to the most housing markets with the worst growth activity. Continue Reading Report: The Worst Housing Market for Growth Is…
Tough market: Rising mortgage rates making home buying harder
Source: Housing Wire --- The Rio Grande Valley was already struggling with housing affordability, and now higher mortgage interest rates are making it worse. That’s according to a new study from the Texas Real Estate Research Center of Texas A&M University, which...
Warren Buffett Says Real Estate Is a Lousy Investment: Why He’s Wrong
Source: The Motley Fool --- Buffett is a shrewd investor, but he's off the mark on real estate. Given that he's a billionaire many times over, it's fair to say that Warren Buffett knows a lot about being a successful investor. After all, he's made a name for himself...
US real estate market may be cooling, depending on who you ask
Source: ABC News --- Just a few months ago, the real estate market was favorable to people selling homes. The amount of buyers was increasing, the number of listings were down and interest rates were dropping, it seemed, across the country. Now, brokers are saying the...
Guess How Many of Us Hope for a Housing Crash
Source: The Street --- With home prices and mortgage rates soaring, it would seem that something has to give. So it may not surprise you to learn that 78% of Americans expect a housing-market crash, according to a study by Consumer Affairs, a consumer information...
Fair Housing: Problem Ran Deeper than Redlining
Source: Florida Realtors --- Discrimination tends to find loopholes. In the 1960s, Blacks bought homes using a land contract – but sellers held the deed and could evict for one missed payment. CHICAGO – If Robert York was ever bone tired, he didn’t show it. After...
Average mortgage debt rose 14% over the past 5 years
Source: Rome News Tribune --- The average mortgage debt held by American homeowners has risen 14%, according to Experian data. At the end of 2021, the average mortgage balance was $223,952 in the U.S., up from an average of $196,403 for the same time period in 2017. ...
The Great Real Estate Tumble Of 2022
Source: Forbes --- “A 1970s Type of Housing Market is Possible in Future” We now have a “Triple Whammy” in 2022. In addition to the stock & bond market’s volatile woes, housing just delivered it’s worst two month hit since 2008 and wiped out over a year’s worth of...
Is Real Estate a Good Investment?
Source: Nasdaq --- Investing in real estate has plenty of benefits. A steady flow of extra income, relatively low volatility and the appreciation in the value of properties are factors that make real estate a good investment. But, there are also some downsides. Real...
Hidden costs of buying a home
Source: Bankrate --- If you’re planning to buy a new home soon, you’ve likely given some thought to the maximum price you can pay and the down payment you can offer. And if you plan to finance the purchase, the monthly mortgage payment could also be on the list of...
City’s budget forecast includes $42.7 million increase in property taxes
Source: Chicago Sun Times --- Chicago property taxes will rise by $42.7 million — half of what an automatic escalator allowed — thanks to a $127.9 million budget shortfall for 2023 that’s the lowest in recent memory, Mayor Lori Lightfoot said Wednesday. By exercising...
