Housing Future Looks Bright But is Dependent on the Job Market: Diana Olick
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Mortgage lending is picking up. There has been increased demand from investors, prompting the Reserve Bank to warn on Wednesday in its Financial Stability Review (FSR) that “it is important that those purchasing property do so with realistic expectations of future dwelling price growth”. Please Log in to update your video settings Video will begin in 5 seconds.
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The latest S&P/Case-Shiller home price index gained 12.4% in July vs. a year ago–its strongest showing since early 2006. But on a month-to-month-basis, prices rose at a slower pace–1.8% in the 20-city composite of the index compared to 2.2% in June. Related: Big Drop in Housing Starts Suggests a More Shaky Recovery: BNP Economist “Overall the housing market is steadily gaining but it does have several headwinds–higher mortgage rates and very tight inventory,” says Diana Olick, real estate correspondent at CNBC. Thirty-year fixed mortgage rates are now at 4.5%, up from 3.7% a year ago. Related: Housing Market Won’t Recover Until Unemployment Falls Below 7%: Miller Samuel CEO Despite the headwinds, she says the future looks bright for housing–especially for homebuilders–but ultimately what happens in housing reflects what happens in the job market.
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– John Williams, Shadowstats.com I have written several articles property management companies in baltimore which explain why the true fundamentals of the housing market show that, after a bounce in home sales on account of a massive amount of the stimulus injected into the housing market by the Fed and the Government, the brief recovery is coming to an end and the bear market that started over five years ago is reasserting itself. Data on new home sales for August released today and by KB Homes ( KBH ) yesterday reinforce my thesis. On the basis of the latter, I used yesterday’s spike up in the homebuilder stocks established a short position in KBH stock to go along with my short position in DR Horton ( DHI ). The Census Bureau released new home sales for August (pdf link), which were reported to be at a seasonally adjusted, annualized pace of 421,000. This was an increase of 14.6% over July’s 390,000 seasonally adjusted annualized rate.
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Why The Real Estate Market Is Topping Out
Insane good, you ask, or insane bad? Well, Justsold! Things are
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Of course, the accommodative monetary policy adopted by the Federal Reserve has been the primary reason for the advance in home builds, sales, and selling pricesthe evidence behind the so-called housing market recovery. But be careful. Its true that the financing costs for homes could likely stay historically low for a few more years, which would help add support to the housing market. However, I feel there could be a sort of bubble on the horizon. Chart courtesy of http://www.StockCharts.com Let me explain. The upward move in the housing market has largely been driven by foreclosures, short sales, and very affordable mortgage rates. The problem now is that financing rates are not going to stay at these low levels indefinitely.
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Earlier this year, Jody Prior moved to the Tri-Cities with her husband and three girls. They planned to rent, not buy. “Renting is perfect for the situation that we’re living in,” said Prior. Jody is one of many renters who can live in a house, instead of an apartment. “It’s so worth it for the extra space.” It’s a trend that realtors are seeing more of. The Tri-Cities used to have a shortage of rentals – not anymore.
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Apartment rental rates rise in SLC, report says
Apartment communities on the east side of the metro area have slightly higher rental rates than communities on the west side, the report indicated. Currently, the average rent per square foot for an eastside property is $0.99 compared to $0.95 for a westside property. For those projects built since 2000, overall square foot rents were $1.00, while the monthly rental rate was at $981, the report showed.
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Car rental companies cracking down on gas refills
Karen Freeman of Atlanta told the Washington Post she recently returned a Chrysler 200 Sedan to the Richmond Airport with what she thought was a full tank. An employee at Avis verified as much. But a few days later, she received her credit card bill, which had an extra $7.43 for 0.8 gallons of gas – $9.29 per gallon. A representative told me that according to a satellite, when I picked up property management companies in baltimore my car, it had 16.9 gallons in it, she told the paper. And when I returned it, it had 16.1 gallons. I checked the ticket from pickup and theres no mention of the fuel quantity other than G8 which means full. An Avis spokesperson said the technology is an effort to be more transparent and precise in measuring fuel.
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The Carlyle Group to Purchase Metropolitan Real Estate Equity Management
The office property is 94 percent leased, with tenants such as Fox Sports Net Southwest’s studios and offices for AT&T Services, Advancial Federal Credit Union, TWG Insurance and CRM Studios. The two- and three-story building sits on 15.2 acres of land at the corner of Royal Lance and Colwell Boulevard. The Las Colinas submarket has the highest overall absorption compared with any submarket in North Texas, so far this year, totaling 1 million square feet of space, according to recent data from Cushman & Wakefield of Texas Inc.’s Dallas research team.
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Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Global Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,400 people in 34 offices across six continents. Web: http://www.carlyle.com Videos: http://www.youtube.com/onecarlyle Tweets: http://www.twitter.com/onecarlyle Podcasts: http://www.carlyle.com/about-carlyle/market-commentary/481 About Metropolitan Real Estate Equity Management Founded property management companies in baltimore in 2002, Metropolitan Real Estate Equity Management is a privately owned, registered investment advisor with more than $2.6 billion in capital commitments across 22 partnerships (16 funds of funds and six feeder funds), representing a wide range of clients, including institutional investors, endowments and foundations and high net worth investors. Metropolitan constructs and manages vintage year U.S., non-U.S., global and custom portfolios, with a focus on private, indirect investments in value-add and opportunistic real estate.
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BOE Says It’s Alert to Housing Market Stability Risks: Economy
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Housing was an early indicator of — and, of course, outsize contributor to — the nation’s economic downturn. Listing-service data for the Cleveland area show that sales dipped from 2005 to 2006, while other parts of the nation were riding the end of the rush. In Cuyahoga, Geauga, Lake, Lorain and Medina counties, annual sales fell 32.6 percent from their 2005 peak to their 2010 trough.
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Cleveland’s housing crisis and recovery in graphics: The ups and downs of sales, prices and distress
While the Royal Institution of Chartered Surveyors urged the FPC to set a cap on price increases, BOE Governor Mark Carney has downplayed the concerns. The FPC said it has a range of tools to address any risks. These include guidance on underwriting standards by banks, additional capital requirements on mortgage loans and the tightening of lenders affordability tests. The FPC, set up to monitor financial stability, didnt make any new recommendations in its statement today. After asking the Financial Conduct Authority and the Prudential Regulation Authority in June to examine the vulnerability of financial institutions to a jump in interest rates, it said today a preliminary probe suggested that a moderate rise did not pose an immediate threat. Hedge Funds The panel highlighted that responses to the review didnt take account of more significant stresses nor potential amplification channels. It also said the levels of leverage and potential vulnerability of hedge funds needed to be looked at more property management companies baltimore closely. The FCA and bank staff will gather more information on hedge funds to improve assessment of stability risks, according to todays report. Recent data indicate a pickup in the housing market.
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Catch the Current Trend of House, Architecture and Interior Design at ‘2013 Busan Kyunghyang Housing Fair’
Loans made by the two federal agencies with the easiest terms todaythe Federal Housing Administration, which requires down payments of just 3.5%, and the Department of Veterans Affairs, which makes loans to veterans and doesnt require any money downaccounted for almost 45% of owner-occupant home-purchase loans. The share of FHA borrowers with incomes above $100,000 has nearly doubled since 2007, to around 15%, according to the Fed researchers, but the median incomes of FHA borrowers was still 40% lower than incomes of borrowers taking out conventional loans. 3. Large racial property management baltimore and ethnic wealth gaps persist. The number of loans for home purchases by Asian and white borrowers increased by 15%, while lending to African-Americans and Hispanics increased at less than half that rate.
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Furthermore, ‘Canadawood Wooden Building Design Workshop’ will be available for architects and wooden building specialists in Busan area. Other useful programs include ‘2013/2014 KCC Design Trend Seminar’ on the trend of housing culture, interior design, color of apartment, and exterior designs and ‘2013 Busan KOVI Archi 3 Education Seminar’ in which participants can learn about interior-dedicated design program using a virtual reality technology. Meanwhile, after ‘2013 Busan Kyunghyang Housing Fair’ ends, the registration process for businesses wanting to join ‘2014 Kyunghyang Housing Fair’ will be started.
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Emirati housing a priority for UAE leadership
The UAE leadership is keen on boosting social development and improving decent living conditions for all, he said, calling for more collective work among the authorities to achieve this end. Shaikh Hamdan was speaking at the Dubai Executive Council meeting held at Emirates Towers. The meeting was attended Shaikh Maktoum Bin Mohammad Bin Rashid Al Maktoum, Deputy Ruler of Dubai and First Deputy Chairman of Dubai Executive Council. The members were briefed on housing policies and studies, real estate sector policies as well as a study of free trade agreements. The council discussed the housing policy for Emiratis, which aims to provide long-term housing solutions in the emirate and the provision of appropriate residences to ease the burden on Emiratis. The Council members also discussed the supply and demand regarding the housing services, the necessary legal framework and government budgets to finance the housing.
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The price? $1,800. Half for the first month’s rent, half for the deposit. She found it on Craigslist. But when Anderson contacted the supposed landlord, something didn’t feel right.
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COMMENT: Flats affordable — so why is HDB building more rental flats?
Potter agreed to waive the termination fee ($278) since Dunn didnt know she was signing a rental contract. She still had to pay the overdue amount ($101.340) for six months. Chaitram and Chandroutie Garib signed a five-year water heater rental deal with MorEnergy in December 2009. They wanted an early release, but couldnt reach the company. I told them that MorEnergy had left the business and transferred some of its rental contracts to National Home Services.
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Never sign rental contracts at the door: Roseman
Some have had to wait for 21/2 years just to be eligible to apply, and then had to further wait between 7 to 12 read more months to actually get a flat. What should be of concern is the increased demand for such flats, which seems to run counter to various observations and claims by government ministers in recent times. For example, Deputy Prime Minister and Finance Minister, Tharman Shanmugaratnam, said in March that a family with a monthly income of as low as $1,000 can now purchase a small flat. His remarks raised some eyebrows. Subsequently, Mr Khaw had to explain that Mr Tharman was referring to new two-room flats. But some still doubt Mr Tharmans claims. And in August, the Acting Minister for Culture, Community and Youth, Lawrence Wong, assured Singaporeans that Singapore’s household balance sheets are in “good shape”.
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