Tag: housing

Harsh warning on US real estate market issued: ‘America needs more housing’

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Licensed associate real estate broker Brian Lewis breaks down the state of the U.S. housing market as home buyers feel the pain of sky-high mortgage rates.

One real estate expert issued a warning to Americans that the U.S. is suffering from a housing inventory crisis that could further damage the market.

“Here’s the thing about America, we don’t have inventory. Guys, it is tight out there,” real estate broker Brian Lewis said on “The Claman Countdown” Thursday. “In New York City, it’s tight. In Richmond, Virginia, it’s tight. In some areas of Chicago, it’s tight. My Los Angeles offices

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Real Estate

‘Supply problem’ is keeping housing unaffordable, expert says

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While many forecasts point to home prices declining next year amid slowing home sales, housing will remain unaffordable for many homebuyers, according to one expert.

“We have a supply problem with housing,” Marc Norman, associate dean at the NYU Schack Institute of Real Estate, told Yahoo Finance Live (video above). “We’ll see the price declines, but I think the income gains that we are seeing lately are still not keeping up with the prices that we are seeing in the market — in most markets.”

New home listings declined by 22%, according to a Redfin report. There are over 2,000

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Real Estate

Pueblo real estate businesses hit hard by housing market slowdown

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Pueblo’s real estate market is continuing to slow down, and the fallout is impacting businesses industrywide. It’s not just Realtors feeling the impacts — it’s home builders, mortgage lenders and title companies too.  

“Overall, the housing slowdown is having a ripple effect across the industry as we see more title companies, mortgage companies and builders reducing staff,” said Dave Anderson, Pueblo Association of Realtors communications chair. 

“There’s layoffs coming, I am sure,” said Randy Nobiensky, self-employed contractor with RH Builders who is seeing the impact on builders and Realtors. “We are all connected, all in the same boat, and with

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Real Estate

An Ohio Real-Estate Investor Issued a Somber Warning to Anyone Trying to Best the Housing Market Right Now

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  • Austin Rutherford told his 700,000 followers he will likely take a loss on a recent flip in Ohio.
  • Fellow TikToker Jeremy Mathis says he’s factoring in 10% price drops to prospective deals in Miami.
  • The market for flips has cooled down significantly due to reduced buyer demand and rising mortgage rates.

Flippers are facing the music as the housing market begins to show signs of cooling down. 

Real estate investor Austin Rutherford, who has over 700,000

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Real Estate

This Real Estate Brokerage Believes The Residential Housing Market Is In Peril and ‘Winter Is Coming’

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Rising home mortgage interest rates, a lack of seller inventory and still high home prices have thrown the residential real estate industry and investment strategies into a tailspin.

With the average national home mortgage interest rate nearing 7.5%, many question the logic behind residential home investment for the foreseeable future. Benzinga talked to the general manager (GM) of a growing brokerage now serving seven states nationwide.

Dave Speers is the GM of brokerage at Philadelphia-based Houwzer, which describes itself as a modern, socially responsible real estate and mortgage brokerage. Speers, a Pennsylvania State University grad, was Houwzer’s first employee

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Real Estate

12 real-estate stocks you can buy on the cheap now that can weather the big housing downturn, says this fund manager

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Last week, existing-home sales marked an eight-straight monthly fall, the first such streak since 2007. That’s as a recent UBS survey showed five big U.S. cities featured as overvalued.

Our call of the day from Baron Real Estate Fund
BREFX,
+0.66%’s
portfolio manager Jeffrey Kolitch sees rare bargains among “best in class” related companies thanks to a big pullback for those stocks this year.

Read: Real estate names lead U.S. stocks higher as yields pull back

So much so, that if the current downturn leads to a recession, real-estate companies will be at a good starting point, Kolitch said

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Real Estate

When paying $60,000 above asking price feels like a deal: Here’s what a cooling housing market looks like in the Seattle area

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The white-hot Seattle-area housing market has started to cool, by some measures. Last month, fewer new listings hit the market here and home prices dipped compared to a month earlier, according to data released Tuesday by the Northwest Multiple Listing Service.

Brokers report occasional price drops, and one local economist says we could be hitting a “price ceiling.” But a year of runaway growth has already done its damage.

Home prices across the Puget Sound region remain up by double-digit percentages compared to last year and 2019.

The dual realities — a cooling market with high prices — reflect the

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Real Estate