Rising Mortgages Rates a Worldwide Issue
It’s not just the U.S. raising interest rates. Most world countries are also trying to ward off a recession, and home prices in a few areas have even started to decline.
It’s not just the U.S. raising interest rates. Most world countries are also trying to ward off a recession, and home prices in a few areas have even started to decline.
HUD views manufactured housing as one relief valve for the affordable housing crisis, and its proposed construction rules are the biggest change in 20 years.
In testimony to Congress, builders backed a new tax incentive but said they also need lower lumber tariffs, fewer regulations and help with their labor shortage.
Sales fell for the 5th month in a row as prices rose 13.4%. NAR economist says homes priced right sell quickly, but ones priced too high now “deter prospective buyers.”
Florida Realtors: Fla.’s single-family median price up 19.7% to $420K. Condo median price up 26.4% to nearly $325K. Inventory rising as new listings increase.
What will happen to mortgage rates next week? No one knows. What will happen over the next year? Likely lots of ups and downs but, ultimately, higher average rates.
Total housing starts fell 2.0% in June. Weakness in the single-family sector was partially lessened by a 10.3% rise in the multifamily sector.
REITs, which trade real estate similar to the way stocks trade business ownership, largely fell in value in June, though the decline level varied by commercial sector.
For many homebuyers, their ownership goal seems to be kicked farther down the field with every price increase and mortgage rate rise.
Inflation affects home prices – and home prices affect inflation. Metros with more departing residents – San Francisco, New York, etc. – have the lowest inflation rates.