3 Possible Solutions To Housing Booms And Busts

Jul 20, 2022

Changes in demand caused by the pandemic were, of course, a big part of the house price boom but two years of falling mortgage rates was the main reason house prices skyrocketed in 2020 and 2021. Rates fell from 4.9% in November 2018 to 2.7% in January 2021, the lowest rate ever on 30-year fixed-rate mortgages. Is there a sector of the economy that is more sensitive to changes in interest rates than buying houses? When you borrow 95% of the price of the largest purchase of your life for 30 year ...read more

Falling House Prices And The Elections In 2022 And 2024

Jul 20, 2022

Falling house prices tend to be bad for incumbent politicians during reelections. Take, for example, George H. W. Bush. Vice President George H. W. Bush was elected president in a landslide in 1988. The U.S. housing market had been booming for years before that election. The Northeast boomed from 1986 to 1988, and California was also booming in 1988. Nationally, nominal house prices increased 14% in the 20 months from January 1987 until the election in November 1988, according to the SP CoreLog ...read more

Wellness Continues To Trend In New Residential Design Survey

Jul 20, 2022

Barns are the inspiration, and sometimes repurposed structures, for Barndo style. Brian Corrigan Photography © Houzz Leading design and remodeling platform Houzz published its 2022 Summer Survey today and it’s chock full of wellness-related design trends. The survey measures searches on its massive site in the first quarter of 2022, with comparisons to the same period last year. Searches don’t necessarily translate to 2022 sales, but indicate strong consumer interest that can show u ...read more

$6.5 Million Mountain Retreat Is Rare Inventory For Booming South Lake Tahoe Town

Jul 20, 2022

In Tahoe-Truckee's luxury market, the competition is fierce thanks to an influx of new homebuyers. Tahoe Mountain Realty With proximity to Lake Tahoe, world-class ski resorts and scenic parks, Truckee residents have long predicted that their sleepy, little town would continue to grow—what they didn't foresee was just how fast that change would come about. Endless year-round activities that the Tahoe area has to offer are a short drive away. Tahoe Mountain Realty While ...read more

Walkability As The Ultimate Amenity For Luxury Homebuyers

Jun 26, 2022

Four Seasons Private Residences Nashville puts residents right in step with a highly walkable ... [+] environment convenient to all the distinctive charms offered by Music City. Four Seasons Private Residences Nashville In American suburbs spawned in the post-war era, sidewalks largely existed for show. Everyone drove everywhere; few would have been caught dead walking. In such a municipality, it was implausible you’d make a new acquaintance on the street, unless you exchanged names, ...read more

Biden Administration Announces $365 Million In Funding To Address Unsheltered Homelessness

Jul 20, 2022

The Biden administration says it has a responsibility to ensure that homeless people have access to ... [+] decent, stable housing and services. AFP via Getty Images The Biden administration through the U.S. Department of Housing and Urban Development today released a first-of-its-kind package of resources to address unsheltered homelessness and homeless encampments, including funds set aside specifically to address homelessness in rural communities. The $365 million package includes gr ...read more

Celebrate Juneteenth From Sea To Shining Sea

Jul 20, 2022

Juneteenth celebrations are being held all across the country. Jason Cordes Photography Juneteenth, known as Freedom Day, Emancipation Day, Jubilee Day and Liberation Day, commemorates the day in 1865 when the federal army reached Texas to ensure that enslaved people in the state were freed. Union General Gordon Granger brought news of the end of the war and the Emancipation Proclamation, which had been signed more than two years earlier. He read a statement that said all enslaved people ...read more

Demand For Vacation Homes Is Now Below Pre-Pandemic Levels

Jun 25, 2022

The pandemic-fueled vacation home buying frenzy is beginning to fizzle. getty The sad thing about vacations is that no matter how much fun you’re having, they have to end. Just consider that demand for vacation homes has fallen below the pre-pandemic baseline for the first time in two years. Sky-high home prices and surging mortgage rates, along with economic uncertainty and an increase in second-home loan fees, have put the kibosh on the pandemic-driven vacation home boom. Mortgage ra ...read more

Areas Most At Risk Of Hurricane-Force Wind And Storm Surge Damage

Jun 24, 2022

Hurricane Ida caused catastrophic damage when it made landfall in southeastern Louisiana in August ... [+] 2021. Getty Images Data analytics provider CoreLogic has released its 2022 hurricane report, which analyzes storm surge and hurricane wind risk levels for single-family residences and multifamily residences along the Gulf and Atlantic Coasts. CoreLogic risk modeling data shows that nearly 7.8 million homes with more than $2.3 trillion in combined reconstruction cost value are at ri ...read more

What The Fed Interest Rate Hike Means For Home Buyers

Jun 24, 2022

An increase in housing supply will likely significantly slow home price growth. getty The Federal Reserve intensified its fight to cool inflation by launching the largest interest rate increase since 1994 and indicated it would do whatever it could to tame price hikes and bring down the cost of gas and food. The central bank of the United States agreed to a 0.75-percentage-point rate expansion at its two-day policy meeting that concluded Wednesday and anticipates that ongoing increases i ...read more