Finfold Times’ Post

Some experts have positive thoughts going forward: '“Mostly, we think the housing market is going to improve over the next half of the year,” Glenn Kelman, chief executive of Redfin' What do you think? Agree or disagree? #mortgageupdates #housingmarket #realestate #2024market #interestrate #housinganalysis #realestatenews #realestateinvesting

Everyone's talking about it – the pervasive housing crisis. The current situation, intensified by a simple supply and demand equation, is frightening. A staggering 25 applicants per rental property 🤯 However, the intricate web driving this involves much more. Why are landlords pulling out? High mortgage costs, heavy tax burdens, uncertain future legislation, expensive green upgrades These pressures are pushing landlords to sell up, further shrinking rental availability for low-income families. Find out more into the challenges underlying our housing crisis and the potential solutions: https://lnkd.in/eVF24__h https://bit.ly/4aepqls #landlordlaw #landlord #uklandlord #propertymanagement #lettings #landlordlife #housingprobems #housingcrisis

American Planning Association (APA) and National League of Cities (NLC) have released the "Housing Supply Accelerator Playbook" for local elected officials and planners. "From removing regulatory barriers to housing to demystifying housing finance, the guide aims to inspire local innovation and supercharge efforts to meet communities where they are and close the nation's housing supply gap." The solutions embraced in the guide are supported by the Mortgage Bankers Association, National Association of Home Builders and National Association of Realtors. Link to document: https://lnkd.in/eMFgUSu4

Exciting news for the housing industry! Have you heard? The Office of Multifamily Housing Programs in Washington D.C. published two significant Mortgagee Letters yesterday that have updated the Federal Housing Administration's (FHA’s) Multifamily Housing Programs' underwriting standards and guidelines. These updates are going to have a positive impact on developers and lenders alike. The changes will increase the amount of loan proceeds available to developers and decrease the cash needed to close FHA transactions. This will not only make FHA transactions more competitive in the market, but it will also encourage and enable lenders and developers to provide affordable rental homes for those with modest incomes. Overall, these changes will make it easier for developers to finance and complete projects, ultimately resulting in more affordable and market-rate multifamily housing options. It's a significant step forward in addressing the growing affordable housing crisis and creating more income-restricted developments. If you're interested in understanding how these new updates may affect your capital stack and make HUD a strong candidate for multifamily financing, we would be happy to discuss it with you. Please feel free to reach out! #mortgagee #mortgageeletter #HUD #FHA #Multifamilyhousing #HousingNews #FHAUpdates #AffordableHousing #MarketRate #MultifamilyFinancing

Thinking about buying a home but not sure if the timing is right? This article from Redfin breaks down the pros and cons of the current housing market to help you make a smart decision. 🏡 Check it out and see if now is the perfect time to make your move! ⬇️ #ChampionTitleandSettlements #CloseLikeAChamp #DCRealEstate #NOVARealEstate #TitleIndustry #TitlePartners #TitleProfessionals #VARealEstate

With 2024 being called one of the slowest housing markets in thirty years, The New York Times reports that increasing supply may be one of the only ways to exit the housing crisis in the new year. The US is short around 4 million homes, and not just because existing homeowners are reluctant to sell due to high mortgage rates and home prices. Housing inventory remains low due to undersupply, as the national population has outpaced the rate of new home construction. What’s the silver lining here? Favorable local building policies and a post-pandemic construction boom in single-family homes and rental properties are expected to increase housing inventory in 2025. #INVH #InvitationHomes https://lnkd.in/dfuA9cGx

When we crafted the One North Central Plan back in 2021, we envisioned it as a roadmap for prosperity in our region. It brought business and community leaders together to design a blueprint for our region’s future. Our objective has been to inspire the region’s public and private sectors to work together in building an economically sound and prosperous region capable of benefiting from future growth and development. Never has the need been greater than now. Emerging out of the pandemic, the One North Central plan has been put to the test. Our region has experienced great challenges, particularly in the real estate market. Historically low interest rates during the pandemic years prompted record refinancing, juxtaposed against a backdrop of one of the highest foreclosure rates in the nation. https://ow.ly/Vb9v50Uptnb

👷🏗️🚧 Have you been woken up by the loud, not-so-melodic sounds of construction? We bet you think the construction in your neighborhood will never stop. Well - perception isn’t necessarily the reality in the case of new builds. For a decade, builders actually haven’t built enough homes. For the past few years, they've been trying to catch up for time lost. According to the US Census, housing completion in 2023 reached its highest rate since 2007, but those numbers seemed to have peaked. Construction is slowing down as an appropriate response to the market as to not make the same mistakes as builders saw after 2008. If you’re looking for a new build, it’s smart to buy sooner rather than later - as completion slows, demand grows. You and everyone else may be competing for the new builds on the block - talk to one of our trusted Home Loan Specialists about getting into a new build today! #churchillmortgage #newbuild #construction #housinggap

In the past 3 years, interest rates were raised 11 times and mortgage rates grew to 8%. The average number of existing home sales has declined by 1.5M homes in each year from 2022 to 2024. Existing home sales in 2024 may be the lowest in 35 years at below 4 million homes. Keep in mind that 35 years ago our population was 250 million people and today’s population is 346 million or 38% larger. We have added nearly 100 million additional people in 35 years and we are selling the same amount of existing homes. Anyone can see there is a problem. If we used the base of existing home sales of 5.5 million prior to rate increases and adjusted it for population increase over the past 35 years we should have existing home sales of 7.6 Million. My calc shows we are short providing home ownership to 3.6 Million households “per year”adjusted for both lower interest rates and population growth. Zillow puts the total housing shortage at just 4.5 million homes, & Freddie Mac at 3.7 million. The housing shortage is much higher than these estimates. The average age of a 1st time home Buyer just leaped during the past 3 years, from age 32 to 38-years-old. This large jump has never happened before. In the previous 40 years, from 1980 to 2020, the average age of a 1st-time home-Buyer grew by only 1 year, per decade. Now the increase in a Buyer’s age is growing at 2 years, per year or 20X the rate of age increase that occured over the previous 40 years. Translation, our youth is not participating very much in the present home purchase market. Solution, we need to build more houses and provide lower mortgage rates. Building more homes must also be combined with lower rates. The Fed could use a housing mandate! Follow me on LinkedIn for real estate stories and news that matter. #housing #economy #buyer #rate #homebuilder #federalreserve #realestate #realtor #nytimes #mortgage #RondaKaysen #marin #sanfrancisco #california #zillow

Agree with Grant on this one! Owning rental property in the US (especially California with its economy ranking 5th in the World) is a wise decision with consistent cash flow and tax benefits.