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Record Number of Renters Struggle With Affordability

Appraisal Buzz

This trend represents a sharp rise from 2001, when 41% of renters were cost-burdened. million since 2001. In 2023, 70% of renters earning between $30,000 and $44,999 were burdened, up 15 percentage points from 2001. percentage points since 2001. percentage point increase from pre-pandemic levels.

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Here’s why we won’t build millions of new homes

Housing Wire

When it comes down to it, the supply and demand model works and new home sales currently today are still below levels we saw during the tech recession in 2001. But the market has only been able to maintain the low 6% rate for short time periods. On a positive note, builder confidence improved when mortgage rates fell from 7.5%

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Natural disasters like the LA fires will deepen the U.S. housing crisis

Housing Wire

The resulting housing market crash and the Great Recession led policymakers to overcorrect by tightening mortgage lending standards and limiting funds for new construction. The study claims that the crisis can be traced back to the early 2000s when subprime lending activities were prevalent.

Lending 418
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Pending Home Sales Climb to Highest Level Since March

Appraisal Buzz

The amount of contract activity in 2001 is represented by an index of 100. Pending house sales are a good indicator of market conditions and typically follow existing home sales by one to two months. higher as buyers responded to slightly improved affordability in the new construction segment as well. September saw a 7.4%

Contracts 418
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loanDepot promotes Bart Evans to Southeast regional vice president

Housing Wire

“Individuals and families in these markets deserve proper community-focused lending, and Evans leadership is well-suited to deliver the localized support they need. The company believes that population increases in these states have driven higher demand for new construction sales.

Lending 370
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Employment gains could help housing inventory

Housing Wire

Sectors that were hit hardest by the pandemic led job growth last month, with jumps in leisure, hospitality, public and private education and construction – good signs for the housing industry. For housing, March gained 110,000 jobs in construction – a positive sign in an industry struggling with supply constraints. Labor Department.

Inventory 514
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Pending home sales fall 38% in November

Housing Wire

“Falling home sales and construction have hurt broader economic activity.”. An index of 100 is equal to the level of contract activity in 2001. Yet, mortgage applications point to a thawing, but still cold, housing market as mortgage rates come down.”. On a month over month basis, all four of the major U.S.

Contracts 511