Tag: Real Estate Markets

Institutional investors have bought hundreds of thousands of single-family homes, many in Black communities. Critics say it’s creating a ‘generation of renters’

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Democratic lawmakers are scrutinizing whether the American dream of a suburban home and white picket fence is being seized upon by large institutional investors, costing working people a shot at property ownership. The House Financial Services Subcommittee on Oversight and Investigations held the virtual panel Tuesday, titled “Where Have All the Houses Gone? Private Equity,…

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5 charts reveal the craziness of the red-hot housing market during the pandemic – and it’s not over yet

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The housing market is finally catching a breath after a two-year sprint. These five charts break down how the frenzy unfolded. The charts, published in a report called the ‘State of the Nation’s Housing 2022’ by Harvard Joint Center for Housing Studies, reveal the steep rise in costs associated with owning, or renting a home,…

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Fed’s biggest rate hike since 1994 means millions more homebuyers may be priced out of housing market, as 30-year mortgage rate spikes

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Pity those first-time house buyers. On Wednesday, the US Federal Reserve raised the benchmark interest rate by 75 basis points to a 1.5% to 1.75% range, the biggest increase since 1994 as it tries to tame rising inflation, which has reached a 40-year high. Eric Finnigan, a director at John Burns Real Estate Consulting, wrote…

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The ‘best’ and ‘worst’ places in America for first-time home buyers

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Angelenos, congratulations – you officially live in one of the worst metro areas for first-time home buyers, according to a new study by Bankrate.com. Out of the 50 largest metro areas studied, Los Angeles ranked 49th in affordability, 48th in employment factors, 30th in safety, and 39th in housing-market tightness, as the supply of homes…

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As Fed raises rates, economists are now warning of ‘overvalued’ property markets. Some homes in Provo, Utah, drew 50 offers at the peak of housing boom. Not anymore.

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Moving to Utah was a no-brainer for Leola Broussard. Broussard, who previously rented a home from a friend in the pricey Stanford – Palo Alto area south of San Francisco, where housing costs, she told MarketWatch, are “just totally outrageous.” Over the two years of the pandemic, many Americans, like Broussard, have flocked to Utah,…

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The ‘cost to build a home in the US has risen at an unprecedented rate,’ says BofA

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House prices have been ballistic over the last two years, in part due to a big shortage in housing materials. A new report lays out what elements actually go into building a home, highlighting how complicated – and expensive – the process can get. “In the last three years, the cost to build a home…

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