Posts filed under “Real Estate”
Source: Bespoke Investment Group
I love these two charts – they are so instructive in so many ways. They really invite closer study as to why some cities have recovered so strongly, and why others have failed to.
The first 4 cities in the % from Bubble peaks are Las Vegas, Phoenix, Miami, and Tampa. These cities saw huge booms in housing but without a proportional accompaniment increase in economic activity. Especially in terms of the jobs creation that would allow people to pay those cheap mortgages which supported those elevated prices.
The Slowdown in Existing Home Sales FRBSF Economic Letter 2014-15 May 19, 2014 John Krainer Sales of existing homes slowed noticeably over the second half of 2013, reflecting a more drawn-out recovery than expected for housing markets. A main reason for the slowdown is higher mortgage rates that have made financing more costly…Read More
Source: RealtyTrac via Rampage Yesterday, we directed our ire at bad automobile data. Today, its housing’s turn. I was running through my early morning sites one day last week in preparation for preparing my daily reads posting, when I saw this headline at the Washington Post: “8 in 10 Manhattan home sales are all-cash.”…Read More
Once upon a time, there was a group of folks known as home flippers. They bought houses that needed some TLC, fixed them up, then sold them for a profit. The real-estate equivalent of day traders, they mostly went extinct during the housing crash. Except on television. Please bear with me as I somehow try…Read More
U.S. homeownership falls to the lowest levels in almost 20 years, blared the headlines. Lots of articles explained “Why Your Home is Not a Good Investment” and why Americans think owning a home is better for them than it is. It seems that America’s former love affair with real estate is over. Blame the recency…Read More