Consumer confidence in the U.S. has rebounded to its highest level in 18 years, following an end to the longest-ever government shutdown. Yet the Conference Board index — which represents Americans’ views on present market conditions — also showed that buying plans for appliances, cars and homes declined, with home prices in 20 cities appreciating at the slowest pace in four years in December.
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Wilkes again called on the federal government to use its spring budget to make it easier for first-time home buyers to get into the market. He urged Ottawa to eliminate or tweak its mortgage stress test now that interest rates have risen. That test requires buyers to qualify for loans at rates 2 per cent higher than those offered by banks. BILD is also among the real estate voices pressing for longer amortization periods, from 25 to at least 30 years, for Canada Mortgage and Housing Corporation insured loans
While home prices in the U.S. continued to rise in 2018, the increases have slowed for most of last year. The housing market is cooling down. Will prices finally fall in 2019? #housing #realestate #market https://lnkd.in/dxVD6Ny
Affordability remains a challenge for consumers who have also been whipsawed by stock markets, the trade war and a government shutdown. https://lnkd.in/g3kEpqR
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The administration is running out of tricks IMHO as most new jobs are low paying jobs that substitute the imports from China and the Far East which are down due to the various import tariffs leveled on those imports. Even with high consumer confidence, the clear sign is that most people are employed but cannot afford a new home. The US debt to GDP is above the 104% mark which according to many economists is a point of no return and the US Government debt is projected to reach 110% by 2020. All in all no long term good news. How the US administration will resolve the pile of debt is questionable. The only resource is substantially cutting the budget deficit which in turn will generate a stock market swoon and a recession. Today Janet Yellen was so right in expressing her opinion on the US leadership as expressed in this article "JANET YELLEN: TRUMP IS AN EVEN BIGGER IDIOT THAN HE LOOKS - The former Federal Reserve chair cannot adequately express how dumb our president is." - Asked if she thinks the president “has a grasp of economic policy,” Yellen flatly responded, “No, I do not.” - “Well, I doubt that he would even be able to say that the Fed’s goals are maximum employment and price stability, which is the goals that Congress have assigned to the Fed,”
Home prices are gaining value more slowly each month...prices usually follow sales, which have been slower for the past 8 months. Will prices go negative? Not nationally. That would take a crisis like we saw a decade ago. Some local markets, especially in California, are seeing prices go negative annually, but only from some very overheated levels. Are you losing money? Depends on when you bought, but unlikely. David Blitzer Danielle Hale #realestate #realestateinvesting Matthew Graham #mortgages
Lower mortgage rates, combined with slower home price appreciation, are bringing the housing market out of its recent overheating and into a more moderate environment with respect to the rest of the economy.
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Existing home sales fall 1.2% in January to 3-year low - https://lnkd.in/e3W9ZDd Very possible that we're going into a more balanced seller to buyer relationship this upcoming year in regards to list pricing & negotiation..., Seasonal Real Estate Professionals understand this and adjust by knowing their marketplace and using partners with the tools to help their business grow and care for their clients toward a successful closing and after sales result. #housing #financeandeconomy #realestate #homewarranty
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The Case-Shiller Home Price Index was released, which gives us an important, yet slightly dated, read on appreciation. Case Shiller has a few indexes, two of which we pay most attention to – the National Index and the 20-city Index. The National Index, which covers all nine U.S. Census divisions, reported a 0.4% monthly gain and 5.2% annual gain in November. The year over year reading was slightly lower than the 5.3% seen in October. The 20-city Index showed that home prices rose 0.3% month over month and moderated from 5% to 4.7% on a year over year basis. The chart below shows 20 of the US Metros and their performance month over month and year over year. The metro areas with the biggest year over year gains were Las Vegas, Phoenix, and Seattle. Some of the biggest monthly losers were cities where prices had surged, including Denver, San Francisco, and Seattle.