HousingWire, Dec. 4, 2019–Kathleen HowleyU.S. home sales probably will fall next year as Baby Boomers gridlock the housing market by aging in place, according to a forecast from realtor.com.https://www.housingwire.com/articles/boomers-likely-to-gridlock-the-housing-market-in-2020/
Category: Top National News
U.S. Private Sector Added 67,000 Jobs in November
Wall Street Journal, Dec. 4, 2019–Allison Prang (subscription)ADP report falls short of economists’ expectations; large and midsize businesses post largest increase.https://www.wsj.com/articles/u-s-private-sector-added-67-000-jobs-in-november-11575467293?mod=hp_lista_pos5
Weekly Mortgage Applications Drop Back as Refinances Pull Back
CNBC, Dec. 4, 2019–Diana OlickThe combination of a holiday week and a stagnant mortgage rate environment kept borrowers away from their lenders last week. Mortgage application volume decreased 9.2% from …
Homebuilding Growth Rates Lag in Millennial Areas
National Mortgage News, Dec. 3, 2019–Bonnie Sinnock (subscription)Most U.S. construction takes place in counties with millennial concentrations, but the rate that new homes are built in these regions is relatively …
Survey: Recession Odds Diminishing for U.S. Economy, But Watch for a Slowdown
Bankrate.com, Dec. 4, 2019–Sarah FosterThe nation’s top economists say a recession within the next year isn’t probable, but that doesn’t mean the U.S. economy will be worth bragging about. (MBA …
Real Estate Firms Rolling Out New Funds for Mom-and-Pop Investors (subscription)
Wall Street Journal, Dec. 3, 2019–Peter Grant Real estate giants like Blackstone Group and Starwood Capital Group have raised billions of dollars from individual investors through a product known as …
New Mortgage Data Show Business Borrowing Is Key to Affordable Multifamily Housing
Urban Institute, Dec. 3, 2019–Sarah Strochak, Laurie Goodman, Ellen SeidmanCurtailing data collection on multifamily lending by eliminating reporting on lending to business borrowers would be a big step in the …
Home Price Growth Slowed in October, Spike Expected Next Year
National Mortgage News, Dec. 3, 2019–Paul Centopani (subscription)October’s deceleration in housing values could be followed by acceleration in 2020, but a growing subset of millennials nevertheless plan to become homeowners …
Compass Seeks Arbitration to End Realogy Lawsuit
HousingWire, Dec. 3, 2019–Kathleen HowleySoftBank-backed Compass filed a motion on Nov. 25 asking a New York judge to stay the legal proceedings and force the two companies to seek arbitration. …
The Staggering Millennial Wealth Deficit, in One Chart
Washington Post, Dec. 3, 2019–Christopher IngrahamMillennials own just 3.2 percent of the nation’s wealth. To catch up to Gen Xers, they’d need to triple their wealth in just four years. …