According to data from the National Association of Realtors (NAR), 27 percent of those purchasing a home for the first time last year received a cash gift from relatives—such as the Bank of Mom & Dad– or friends, an increase from 24 percent in 2012. Meanwhile, rising stock and property …
Although MHProNews has posted several stories relating to the effect of student debt on home sales, a new study by John Burns Real Estate Consulting, according to The Wall Street Journal, says higher levels of student debt will reduce U. S. home sales by eight percent this year. Studying purchase …
In the largest increase since November of 2013, the 30-year fixed mortgage rate rose 14 basis points from one week ago to 4.19 percent, although it peaked on Sunday at 4.30 percent and then fell, according to worldpropertychannel.com. Erin Lantz of Zillow says the rates hit a five-month high last …
The past four quarters all the growth in household formation has been among renters, according to worldpropertychannel.com, as the rate of absorption for unsubsidized, unfurnished apartments has been at its fastest pace in a decade. As of Sept., 2014, construction of apartment buildings with at least five units hit the …
Frank Nothaft: New Multifamily Housing Units Being Absorbed Read More
Another addition to the “instant house movement” that MHProNews has documented April 24, 2014 and Jan. 27, 2014, among others, is 3D printer construction technology called Contour Crafting which produces concrete buildings using a giant robotic printer in one day, and is capable of constructing round and straight formations. Developer …
3D Printer Pours out Concrete to Form Modular House Read More
Following a story MHProNews first published Sept. 1, 2014 regarding a modular workforce housing complex to be built in McComb, Mississippi for oilfield workers fracking on the Tuscaloosa Marine Shale (TMS) in southwest MS and central Louisiana, the 536-bed lodge by CMS Consultants, LLC of Metairie, LA will be constructed …
Tuscaloosa Marine Shale Braces for expected Oilfield Worker Onslaught Read More
According to the index compiled by The Conference Board, consumer sentiment has risen this month to 84.6, two points above the end of August and five points above the mid-August reading of 79.2. However, the gain is in the expectations component, not the current conditions aspect, which actually fell to …
Case-Shiller’s improved house price index (HPI) now offers a monthly read on the housing market instead of a quarterly overview, according to housingwire.com. Paul Diggle of Capital Economics says, “The new index suggests that prices ‘only’ fell by 26% during the crash, relative to 34% on the previous quarterly index. …
New Index: Housing Crash not so bad; Recovery not so Good Read More
Donald Salmon of TBI Mortgage says private investors are beginning to buy mortgages written just for self-employed borrowers who put down 30 percent and have good credit scores. Instead of looking at paychecks, they examine a twelve-month bank statement to determine if the borrower can afford the home, nationalmortgagenews.com reports. …
Loans Moving from FHA to Fannie and Freddie; Freddie Inaugurates MHC Loan Read More
Cash sales comprised only 33 percent of total home sales in June, 2014, the lowest level since Sept. 2008, and a drop of 36.3 percent from June 2013, with the share falling year over year each month since Jan 2013. Before the housing crisis began, according to worldpropertychannel.com, cash home …
Cash Home Sales Fall to Lowest Level in Nearly Six Years Read More
According to Harvard University’s Joint Center on Housing, the nation is poorly prepared to house aging Baby Boomers, especially those disabled. An added problem is one-third of those aged 50 and older spend more than 30 percent of their income on housing; some boomers who still have a mortgage on …
The Wisconsin Housing Alliance reports the production of off-site built homes is down this year, especially for modular homes, which suffered a drop of ten percent in 2013 over 2012. As biz-times.com tells MHProNews, production in 2004 was almost 700 percent higher. Pittsville Homes closed this summer after 40 years …
Manufactured Housing Growing, Modular Home Production Slipping in Wisconsin Read More
Noting the current housing market scenario is not meeting expectations most analysts predicted a year ago, Mortgage Bankers Association (MBA) CEO and President David Stevens says the changing demographic in the U. S. is going to require changes in the home financing market. “If you look at existing housing stock …
MBA’s David Stevens: Home Ownership Financing must Change Read More
Residents of Los Angeles use a larger portion of their paycheck for housing than people in San Francisco, New York or Miami. “They’re bottom earners living in a high-priced housing market,” said Dowell Myers, a policy, planning and demographics professor at the University of Southern California in Los Angeles. Lower-income …
Los Angeles Singing the ‘Rising Housing Cost Blues’ Read More
While the oil boom in the Bakken Formation area near Watford City, North Dakota has brought a lot of quick prosperity to many local residents, the character of the town is changing due to the growth of the 1,400 residents six years ago to 10,000 today. As The atlantic.com tells …
Affordable Housing still Wanting in the Bakken Oilfields area of North Dakota Read More
According to the Manufactured Housing Association for Regulatory Reform, the U. S. Department of Housing and Urban Development (HUD) statistics reveal that production of manufactured homes jumped 18.4 percent in July over July 2013, 5,675 HUD Code homes this year as compared to 4,793 produced in July 2013. On the …
HUD Code Production Rises Nearly 20 Percent in July Read More
According to numbers released by the U. S. Department of Housing and Urban Development (HUD) and the U. S. Census Bureau, sales of newly-built single-family homes dropped 2.4 percent to a seasonally-adjusted annual rate of 412,000 units in July. Initially, according to the National Association of Home builders (NAHB), sales …
Commercial real estate company CBRE reports multifamily demand in the U S. continued to gain momentum in Q2 2014 as the job market improved and more households are shifting to renting instead of buying. Net absorption grew by an annual rate of 276,200 units, or 1.9%, on a year-over-year basis, …
According to RealtyTrac, all-cash deals comprised 38 percent of all home sales in the second quarter of 2014, a drop from 42 percent in Q1 2014, as institutional buyers—those buying at least ten homes annually—are finding good deals drying up. They accounted for 4.7 percent of all home sales, a …
All-cash Home Sales Fall Nationally, Save Several Metros Read More
Spurred by strong single-family and multifamily growth, housing starts for July rose 15.7 percent to a seasonally-adjusted annual rate (SAAR) of 1.093 million units, the highest rate since Nov. 2013, as reported by the U. S. Department of Housing and Urban Development (HUD) and the U. S. Census Bureau. According …
Single and Multifamily Housing Starts Rise in July Read More
