A new report argues that America is currently in the midst of a “housing crisis,” as the number of homes available fails to keep pace with surging demand for real estate, freezing many prospective homeowners out of the market under current conditions. Last week, the non-profit organization Up for Growth released its report “Housing Underproduction…
Real Estate ‘Time Bomb’ and Mortgage Boycott by Homeowners in China; Enes Freedom on Human Rights
July 18, 2022
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China is facing a growing mortgage strike. Unfinished homes and growing resentment toward banks and developers may be a ticking time bomb. For the Chinese regime, a third of the economy is on the line, with upward of $2 trillion in home loans. Meanwhile, the protest over what Chinese residents call “rotten tail buildings” reaches…
Increasing Housing Demand Won’t Solve Affordability
July 14, 2022
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Commentary Over the past decade in Australia, we have had a series of governments delivering disappointing policies. Unfortunately, I expect this disappointment will continue with the new Labor government. One case in point: their housing policy was announced during the most recent election campaign. The Labor Party’s shared equity scheme is yet another poor federal…
Real Estate Brokerage Royal LePage Cuts Home Price Forecast for 2022
Royal LePage is cutting its expectations for the growth in home prices this year after it says prices in the second quarter fell compared with the first three months of the year. The real estate brokerage says it now expects the aggregate price of a home in Canada in the fourth quarter of this year…
Roommates, Multi-Generational Homes Rising Amid Increasing Costs, Immigration: Census
When Gina Athanasiou’s father died in 2016, she realized her mother, who bounced between Canada and Greece for most of her life, didn’t have a pension large enough to cover the soaring costs of a Toronto home. The solution? Athanasiou, a real estate agent, invited her mother to move into the East York home she…
LoanDepot to Lay Off 2,000 Workers Following Mortgage Market Slowdown
July 13, 2022
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Business & MarketsCompanieseconomyhousing affordabilitymortgage lendersreal estatestaff layoffsUSUS NewsUS Real Estate
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California-based mortgage lender LoanDepot has announced that it intends to lay off thousands of workers as the company deals with “rapidly changing market conditions.” LoanDepot is aiming to generate about $375 million to $400 million in “annualized savings” by the end of 2022 by adopting measures like headcount reduction, the company said in a July…
A Beginner’s Guide to Real Estate Investing
Real estate investing can produce lucrative results if you invest carefully. You can use real estate investments to balance a portfolio, because these investments often outperform when the stock market underperforms, which it certainly has been doing lately. This short guide will help you understand some options available to new investors. The Allure of Real…
Home Sales Are Being Canceled at the Highest Rate Since the Start of the Pandemic: Redfin
Prospective homebuyers are canceling sales and backing out of deals at the highest rate since the start of the pandemic, Redfin announced on July 11. About 60,000 home-purchase agreements throughout the country fell through in June 2022, roughly equivalent to 14.9 percent of the homes that were under contract that month, compared with 12.7 percent in…
Housing Heat Index: Which State Real Estate Markets Are Doing the Best, Worst During the Pandemic Boom?
By Jeff Ostrowski From Bankrate.com Before the coronavirus recession, Utah’s housing market was on fire. Then came the COVID-19 pandemic, which sent residents of Northern California and Seattle in search of affordable homes and more space, and an already-hot market grew hotter. Dave Robison, past president of the Utah Association of Realtors, sums up the…
US Housing Affordability Index Drops to Worst Measurement in 16 Years
July 11, 2022
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Housing affordability in the United States declined in May 2022 according to the National Association of Realtors (NAR), falling to its lowest level in 16 years. NAR’s Housing Affordability Index (HAI) was recorded at 102.5 in May, down from 108.1 in April and 148.2 in May 2021, data from the organization shows (pdf). This is…
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