According to this article by CNBC, about 7% of all active mortgages are in some sort of forbearance program. The number of seriously delinquent mortgages, at least 90 days past due, more than doubled from May to June, according to Read more…
Category: Predictions
https://www.recenter.tamu.edu/news/newstalk-texas/?Item=24811&utm_source=RECON&utm_campaign=05fe67467d-EMAIL_CAMPAIGN_2020_08_27_04_24&utm_medium=email&utm_term=0_b815716265-05fe67467d-66993429 According to the above report by the Real Estate Center at Texas A&M University, national housing inventory declined 32.6 percent year over year, and the inventory of newly listed properties declined 13.4 percent Baby boomers are not moving. Perhaps potential Read more…
Marcus and Millichap published a new research brief titled “Changing Lifestyle Preferences Shift Housing Demand to Suburbs.” They say that the pandemic has altered housing choices. The report confirms the anecdotal evidence. Although some companies have confirmed permanent work from Read more…
Seven of the ten most expensive rental markets had year over year price decreases. The most expensive markets were San Francisco (one bedroom rent dropped last month to $3,200), New York (one bedroom rent declined to $2,840), Boston (one bedroom Read more…
Is the current hot seller’s market about to turn into a buyer’s market? We are in uncharted territory, it is difficult to predict. But the author of the following article may well be correct. https://www.biggerpockets.com/blog/covid-evictions-market-fallout Unemployment numbers are still over Read more…
In addition to the exodus from New York, see article below, there is also an exodus from San Francisco, as described in the following article: https://www.sfgate.com/living-in-sf/article/2020-San-Francisco-exodus-is-real-and-historic-15484785.php Investors in cities like San Francisco and New York often believe that values can Read more…
https://nypost.com/2020/08/11/new-yorkers-flee-nyc-in-droves/ An article below predicts that an exodus from big cities will last for a couple of years. This article, linked above, describes how New Yorkers keep moving out of the city to the suburbs. With a high population density, Read more…
https://nypost.com/2020/07/22/why-falling-rents-mean-big-trouble-for-nycs-future/ The New York Post reports that rents are falling in New York City. This is more evidence that people are fleeing cities for the suburbs. With more people able to work from home, they are escaping congestion, traffic, protestors, Read more…
https://www.zerohedge.com/markets/real-estate-expert-warns-exodus-cities-will-last-two-years People are leaving big cities for suburbs and small towns to get away from density, in view of the Coronavirus, and to get away from protests and riots and politicians who are sympathetic to them. It is hard to Read more…
This article provides some real estate predictions for 2020 and beyond. The article explains that, despite the recession, high unemployment, and increased bankruptcies, that real estate values are rising nationwide. This is because of low supply and because of unprecedented Read more…
https://www.recenter.tamu.edu/news/newstalk-texas/… This article lists the best cities for millennials during the pandemic. It provides some real estate predictions for 2020 and 2021, in that millennials are a large part of new buyers in the housing market. In the largest 100 Read more…
Freddie Mac has released its quarterly real estate predictions for 2020 and 2021. They are predicting real estate will appreciate (nationwide) about 0.4% in 2020 and 0.7% in 2021. In other words, basically flat. The predictions are found in the Read more…
Las Vegas is now open for business again. But how quickly will tourists returned to smoke filled gambling halls? Fewer tourists mean less demand for restaurants and casinos. Demand for housing in Las Vegas is currently strong, but how long Read more…
The following article makes some real estate predictions for 2020 for Spokane. https://www.spokesman.com/stories/2020/may/31/will-the-spokane-housing-market-weather-the-storm-/ Nationwide, COVID-19 has affected housing markets due to economic uncertainty. In Spokane, more contracts are failing to close. Some buyers have lost their jobs, and lenders are Read more…
An ‘Avalanche of Evictions’ Could Be Bearing Down on America’s Renters according to the article below. The economic downturn is shaping up to be particularly devastating for renters, according to the New York Times. Nearly a quarter of respondents to Read more…