More than 10 million people across the United States aged 65 and older are still paying off their home mortgages, even into retirement years, a new report from Lending Tree indicates. Lending Tree, an online loan marketplace for mortgages, small businesses, and other loans, analyzed the latest U.S. Census Bureau data to review the share…
Over 10 Million Seniors Still Saddled With Monthly Mortgage Payments: Report
US Home Sales Fall Again, Posts Second-Lowest Monthly Reading in 20 Years
U.S. pending home sales tumbled 4 percent in November, according to the National Association of Realtors (NAR). This is up from the 4.6 percent drop in October, but the reading was worse than the market estimate of a 0.8 percent dip. On a year-over-year basis, pending home sales plummeted 37.8 percent, down from the 37…
What to Do If Your House Won’t Sell
Commentary Due to the Federal Reserve increasing interest rates at a record pace, the housing market has come to a standstill. While we aren’t seeing dramatic discounts yet, significant price decreases are on the horizon as sellers will be forced to lower their prices to sell their homes. This is great news if you’re a…
Are Home Appraisals Obsolete?
Dear Monty: I am indirectly involved in real estate transactions. I work for a title company. I witness real estate transactions regularly failing for a variety of reasons. Appraisals are one of the leading causes. There should be a better method. Will there be a better process in the future? Monty’s Answer: Your question requires…
Buying Land to Build On? You Need a Checklist
Are you one of many who are thinking of fleeing bigger cities to get away from crime, pollution, higher taxes, never-ending traffic jams and a laundry list of other pesky problems? You’re not alone. You might be one of the millions like my son-in-law and my own son who now can work from anywhere there’s…
3 Midwestern States Now Rivaling Florida, New York in Rent Hikes
It’s not surprising that rents in high-priced locations like New York and Florida are always on the rise, but escalating rents in midwestern markets can be a real head-scratcher. Rent.com’s December national Rent Report indicates rents in three midwestern locations are now climbing at almost the same percentage rate as two of the higher-priced markets…
Lumber Prices Hit 2022 Low as Homebuilder Sentiment Collapses
December 23, 2022
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Business & Marketseconomic policieseconomyhome builder sentimentinflationlumber pricesmortgage ratereal estaterecessionUSUS Real Estate
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Lumber prices hit an all-time low after homebuilder sentiment tumbled for the twelfth straight month in December. The building commodity peaked at $1,336 per thousand board feet in late February, but has settled to around $379, as of Dec. 22, to its lowest level since the pandemic in June 2020. The price of lumber is down…
US Single-Family Housing Starts Drop in November Due to High Mortgage Rates
December 21, 2022
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Business & Marketseconomic policieseconomyHome ConstructioninflationMarketsmortgage ratespersonal financePolicies & Impactsreal estaterecessionUSUS Real Estate
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Monthly construction of new single-family homes and building permits fell to a two and a half year low in November. This was caused by higher mortgage rates combined with inflation, which further weakened housing market activity, according to a report from the U.S. Census Bureau, on Dec. 20. The single-family housing market once boomed during…
Homebuilder Sentiment Drops for 12 Months in a Row to Lowest in Decade
December 21, 2022
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Business & MarketseconomyFederal Reservehomebuilder sentimentinflationmortgagereal estaterecessionUSUS NewsUS Real Estate
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Homebuilder sentiment has dropped every month in 2022, amid a volatile economy, reaching the lowest level since 2012 in December, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) published on Dec. 19. The decline comes as inflation remains elevated and mortgage rates, driven by the Federal Reserve’s aggressive monetary tightening…
Netherlands Imposes Rent Control on 300,000 Homes to Deal With Affordability Crisis
December 16, 2022
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Business & Marketseconomic policiesEuropeGlobal Real EstateInternationalNetherlandsreal estaterent freezeWorld
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The Dutch government will control how much landlords can charge renters in a plan supposed to alleviate ongoing housing affordability problems. Over 300,000 homes will be affected by the plan with rental prices to be cut by an average of 190 euros (US$202) per month. The maximum rent allowed will be 1,100 euros (US$1,171) and…
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