New plan for government to offer 25k to homebuyers
A new plan unveiled by candidate Harris aims to provide up to 25k to every first time homebuyer for a downpayment. Like many of you when I heard the news, I did a double take. What is in the plan? …
Fed cuts rates half percentage, Why did mortgage rates rise?
The market was anticipating a much smaller cut by the federal reserve as inflation is still high and employment and spending is holding up. The odds were about 75% for a smaller cut, but the federal reserve definitely surprised with…
Property Insurance rates set to jump by 50%; why and who pays?
The mortgage industry should be prepared for large increases in insurance premiums up to 50% according to the Situs Whitepaper. Jennifer Rasmussen, one of the reports authors stated that the average homeowner “was not cognizant of the sheer magnitude…
What city is now banning Airbnb? Do nightly rentals drive up rents?
Over the years there have been a lot of theories that nightly rentals are increasing long term rents of full-time residents. Recently NY analyzed nightly rentals in various boroughs to calculate the increase in lease rates. This is the first…
Shortage of homes will keep prices high… think again; Is there really even a shortage?
I just saw an article on CNBC with the headline: America is short 5 million houses. The media is proclaiming a housing crisis throughout the country due to the shortage. Ironically at the same time the US has hit a…
Biden/Harris propose national rent control, what does this mean for prices and supply
It is no secret that housing prices and in turn rents have skyrocketed throughout the country. President Biden, announced a major new action to: “ lower housing costs by limiting rent increases”. Essentially the proposal is nationwide rent control. What…
Who is better for real estate Harris or Trump ?
Wow, it is amazing how quickly tides have changed. Look at the chart above of the betting market on the next presidential election right after the assassination attempt. Fast forward and another twist happened over the weekend with President…
House prices hit another record, what is now driving house prices?
It is astonishing that house prices continue higher in the face of high interest rates and a slowing economy. The media keeps pinning the continued appreciation on lack of supply even while listings in places like Denver have jumped 33%…
Inflation cools in June, what about interest rates and house prices?
When I was writing this article mortgage rates were hovering right around 7%. At the same time June showed the first real slowdown in inflation in the last year. The stock market soared on the slowdown in inflation while the…
Banks new motto: Survive until 25, what does this mean for real estate
There is a new mantra being used in small/regional banks that is “survive until 2025”. In essence the theory is that rates will drop precipitously and basically “bail out” many banks’ portfolios. This includes treasury holdings that are underwater,…