The National Association of Realtors (NAR) reports homeownership for the under 35 year-old crowd has fallen from 43 percent in 2005 to 36 percent today, according to nationaljournal. Even with very affordable interest rates, the Millennial generation in many cases is saddled with student debt, putting a damper on their …
A growing trend for the last decade has been an influx of foreign buyers from Asia, Australia and Europe purchasing homes in the U. S., which is actually helping the real estate market price recovery. A report by the National Association of Realtors says $22 billion of the $92 billion …
International Real Estate Buyers Spur U. S. Housing Market Read More
Moody’s Investor Services, a leading credit-rating agency, tells MHProNews that while the Canadian government has an AAA rating due to its improving finances and its strong regulatory and institutional framework, rising home prices and high consumer debt may pose a risk to the economy. Steven Hess, Moody’s senior vice-president, says, …
Canada’s Economy, Housing Strong Despite Rising Debt and Home Prices Read More
In September, marking the third time this year, total housing starts hit the far side of the million mark, advancing 6.3 percent to a seasonally annual adjusted rate (SAAR) of 1.017 million, according to numbers released by the Census Bureau and the U. S. Dept. of Housing and Urban Development …
Students at Green Mountain College in Vermont, guided by Professor Lucas Brown, began working on tiny homes several years ago and have now developed OTIS—Optimal Traveling Independent Space—70 square feet of modular living space, easily suitable for one, that fits on a 5′ X 8′ utility trailer and can be …
Following a story MHProNews posted Oct. 22, 2013 entitled Will Texans take to Tiny Homes, a recent story about small homes on BillMoyers.com, asked if respondents could live in a tiny home, drew a series of responses. Gordon Billingsley said he lived in a 920 square-foot passive solar home and …
Tiny Homes/Factory-built Housing could Replace the Blight Read More
While refinance lending in rural and small town communities fell by 23 percent in 2013 compared to 2012, purchase lending in the same areas rose 2.3 percent for the similar period, after hitting a ten-year low in 2011, according to what daily.yonder tells MHProNews. Just as rising interest rates and tighter …
Rural Home Purchase Loans Still over 50 Percent Below Pre-Recession Read More
Following a story MHProNews last covered April 7, 2014 regarding a three-unit modular housing development in Ridgefield, Conn., the state department of housing has granted Ridgefield, Connecticut a four year moratorium on applications under the state’s affordable housing plan, 8-30g. This program allows investors to ignore zoning requirements providing 30 …
Connecticut City gets Moratorium on Affordable Housing Construction Read More
While analysts expected the jobs report to indicate 215,000 new jobs had been created in Sept., following the tepid 142,000 in August, the government says 248,000 new jobs were realized in September, more in line with the previous six months (before August) of job growth above 200,000. In addition, according …
New Job Growth, Falling Unemployment: Sufficient to Spur Homeownership Growth? Read More
The California homeownership rate for Hispanics was 41.9 percent in 2013 versus 62.7 percent for non-Hispanic whites, according to U. S. Census records. The Hispanic rate in 2006 was 47.9 percent. A 2013 study by Harvard University’s Joint Center for Housing Studies, noting homeownership continues to be a significant source …
California Home Prices Rising above Affordability for Hispanics Read More
The Mortgage Bankers Association (MBA) reports for the week ending Sept. 26, mortgage applications slipped 0.2 percent on a seasonally adjusted basis from the previous week, while on an unadjusted basis the Market Composite Index (MCI) decreased 0.4 percent. The Refinance Index fell 0.3 percent from the week prior, while …
Mortgage Applications Dip for week Ending Sept. 26 Read More
According to the National Association of Realtors (NAR), the Pending Homes Sales Index (PHSI) slipped 1.0 percent in August to 104.7 from 105.8 in July, and is now below the August 2013 reading of 107.1. Regardless of the slight decline, as the worldpropertychannel.com reports,the index remains above 100 (an average …
In the 20 years from 1991 to 2011, the number of owner-occupied homes grew from 59.8 million to 76.1 million, a gain of 27 percent, while the number of renter-occupied homes rose from 33.4 million to 38.8 million, according to surveys conducted by the U. S. Department of Housing and …
Homeownership has Grown Steadily; Rentals are now Surging Read More
The Oak Grove High School (OGHS) in the Lamar County School District in southeastern Mississippi has grown by 331 students since last year, the only district to see significant growth in a two-county area. While 18 additional classrooms are under construction, a modular unit with eight classrooms that was added …
Consumer confidence moved to a 14-month high, according to a Thomson Reuters/University of Michigan index. While economists in a Bloomberg survey projected 84.8 for Sept., the actual number came in at 84.6, a jump from 82.5 in August. According to rvbusiness.com, employment is growing at the strongest pace in 15 …
Latest Survey Indicates Consumer Sentiment is Rising Read More
Harvard University’s Joint Center on Housing report on senior housing notes an American Association of Retired Persons (AARP) study focuses on four areas: hunger, isolation, housing and income. Of the four, housing is a linchpin for overall well-being. Many older adults sacrifice food, health care and transportation to maintain a …
Adequate Senior Housing Lacking in many Communities Read More
According to housingwire.com, the latest CoreLogic report indicates 946,000 properties regained positive equity in the second quarter of 2014, increasing borrower equity year over year by an estimated $1 trillion. The number of homes that remain in negative equity has fallen from 7.2 million, or 14.9 percent of all homes …
More Underwater Homes are Beginning to Float again Read More
Marcus & Millichap’s Manufactured Housing Research Report says rising home prices, improving job outlook and an expanding baby boomer population are adding to increased occupancy in manufactured home communities (MHCs), a trend the real estate investment services company reports will continue. Concurrently, investors looking for large, top quality communities with …
Report Cites Uptick in Demand for MHCs by Investors and Baby Boomers Read More
While sales of existing homes fell 1.8 percent in August, as MHProNews reported Sept. 23, sales of newly-built, single-family homes rose 18 percent in the same month, hitting a seasonally-adjusted annual rate of 504,000 units. The National Association of Home Builders (NAHB) reports this was the best pace in six …
The National Association of Realtors (NAR) informs MHProNews that sales of existing homes fell 1.8 percent across the country as investors continue to leave the market, making more homes available for individuals to finance. The South and the West, the two largest markets, both saw declines, offsetting the gains in …
