Housing Affairs Letter

Housing Market

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Housing Reigns Big In Elections

Housing is the big winner in this year’s elections, putting the affordable housing crisis and the parallel homelessness crisis at the top of the agendas for many newly elected lawmakers whose constituents are impacted by the issues.

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Mortgage Rates Surge, Inventory Lags

Mortgage interest rates continue their upswing after emerging from the doldrums last week. But prospective homebuyers have little choice as the nation’s inventory of new and existing homes remains tight.

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Is America Headed For Housing Bubble?

If Seattle is a bellwether of the nation’s housing dilemma, post recession housing price increases are likely to continue to escalate rapidly with no solution in sight.

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Massive Home Building Disruption

Costs of building new homes and renovating old homes are likely to soar as building materials and labor are diverted to southeast Texas to rebuild and restore thousands of homes and business structures in the wake of Hurricane Harvey.

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Fed Rate Hike And Housing Market

Housing economists say there is little worry the latest hike in the nation’s benchmark interest rate will have a significant fallout on average mortgage rates for the time being.

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Borderline Mortgages Plague Market

Nearly 5.5-million homeowners hold mortgages on the equity borderline that curbs their ability to sell. The dilemma is contributing to the continuing dearth of sales inventory available for first-time and move-up buyers according to a study by ATTOM Data Solutions.

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Housing Affordability Worst In 7 Years

Homebuyer ability to afford the purchase of a house is at the worst level in seven years, according to a study by ATTOM Data Solutions’ (parent firm of RealtyTrac) Home Affordability Index for the third quarter 2016.

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Increasing Housing Costs Decried

Housing affordability is increasingly cited among local government leaders as a barrier to economic development according to key findings on housing affordability unveiled by ICMA, the International City/County Management Association.

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Rental Housing Nation’s New Crisis

The study shows there are now 9 million more renters than existed only 10 years ago. It is the biggest increase on record, the study says, adding they are also paying more for rent than ever before.

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Foreclosures Leap, HAMP Rates Up

Foreclosure starts increase 12% in October, the largest month-over-month jump since August 2011 with 48,605 properties entering the foreclosure process for the first time according to RealtyTrac’s Foreclosure Market Report for October.

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