Check out this weekly Roundup 12/27/2019
Interesting update, From our buddy Brad Becker!
Housing Starts & Building Permits Up in November
The U.S. government is reporting that privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,365,000. This figure is 3.2% above October’s revised estimate of and is 13.6% higher than November. Click here to read more.
SECURE Act Signed into Law
Just before slipping (slithering?) out of town for their annual Christmas break, Congress passed (and subsequently signed by the President) the $1.4 trillion Further Consolidated Appropriations Act that will fund the federal government for the rest of FY 2020. However, sneakily tucked into that measure was something that will cause investors to take notice: the SECURE Act (Setting Every Community Up for Retirement Enhancement). Click here to read more.
Existing-Home Sales Down 1.7% in November
Relationship Between Public School Enrollment and Housing Prices
One of the key drivers of a home’s sale price is the quality of the local school system. Interestingly, recent analysis from the National Association of Realtors illustrates the positive relationship between public school enrollment and rising house prices. Click here to read more.
Ellie Mae Says Interest Rates Rose for First Time in 2019
Renters Spent $4.5 Trillion on Housing During 2010s
According to recent report from Zillow, renters spent a cumulative of $4.5 trillion on rent during the 2010s. In fact, they point out that in 2019, renters spent more than $512 billion on housing – the most of any year in this decade. Click here to read more.
When Your Insurer Decides Your Property Isn’t Worth the Risk
A recent story in the Wall Street Journal (reposted on Realtor.com) explored about how some California homeowners recently found out their insurers wouldn’t renew their fire-protection policies. They reported that, in response, California announced a one-year moratorium forbidding insurers from dropping customers who live in or adjacent to ZIP Codes affected by this Fall’s wildfires. Click here to read more.
50+ New Year’s Facts