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Some say Austin’s rental market might collapse. That’s not reality

Housing Wire

What’s more, operating costs for apartment and SFR (single-family rental) operators are up significantly since 2019 due to higher property taxes, insurance, and payroll costs. of existing supply, with another 38,000 of apartment units under construction (12.2% occupied — one of the lowest numbers RealPage has recorded since 2010.

Marketing 370
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Harvard study suggests inflation, labor shortages threaten remodeling industry

Housing Wire

Homes built before 1980 saw average improvement spending that was 24% higher than for homes built since 2010, and maintenance spending was 76% higher. As a result, the average homeowners insurance premium jumped 17% between 2021 and 2023, the report found.

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1.2 million homes face wildfire risk in California

Housing Wire

Increasing wildfire risk resulting from climate change is a growing problem for insurers and homebuyers in affected areas, particularly California, according to a new report from data provider CoreLogic. CoreLogic said insurers’ models should account for the current risk landscape, including climate change considerations.

Insurance 370
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5 predictions for the 2022 housing market

Housing Wire

Even with this increase, fixed-rate loans will still be cheaper than they were before the pandemic: In the 2010-2019 decade the interest rate averaged 4.1% With more supply from new construction and existing owners relocating, new and existing home sales are expected to rise about 1% to 7 million sales, the largest number since 2006.

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HECM program study assesses policy impacts of recent years

Housing Wire

The bulk of losses came from loans that originated between 2006 and 2010,” the report stated. Researchers estimated that the Federal Housing Administration (FHA) incurred a net loss of approximately $10.4 billion from the program.

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Homeowners are staying in place twice as long as they did 20 years ago: Redfin

Housing Wire

were 65 and older as of 2020, up from 13% in 2010,” the report reads. Some young families are turning to new construction, and others are renting homes.” Older generations have an outsized level of influence over the U.S. housing market for multiple reasons, Redfin said.

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Labor Shortages Hindering U.S. Remodeling Demand 

Appraisal Buzz

Although few homes perform mitigation retrofits, the average homeowner insurance price increased by 17% between 2021 and 2023, which may serve as a catalyst for homeowners to do so. Average maintenance spending in 2023 was 76% greater than that of homes built before 2010, and enhancement spending was 24% higher for homes built before 1980.