Morning Briefing: Home prices up 5.2 per cent

by Steve Randall30 Dec 2015
Home prices up 5.2 per cent
The latest S&P/Case-Shiller Home Price Index shows that nationally, prices were up 5.2 per cent in October 2015 compared to a year earlier. That’s an increase from the 4.9 per cent rise recorded in September. San Francisco, Denver and Portland, Oregon all saw 10.9 per cent increases year-over-year and the top 20 percent increased 5.5 per cent overall to return to their winter 2007 levels. However even in those cities prices are around 13 per cent below their 2006 peak.
 
New mortgage bonds from Freddie, Fannie
Freddie Mac and Fannie Mae have launched new mortgage bonds which will see reduced exposure to financial risk for the government-backed corporations. The Wall Street Journal reports that the securities are called Connecticut Avenue Securities by Fannie Mae and Structured Agency Credit Risk by Freddie Mac. While bonds usually protect investors from defaults of the underlying mortgages, the new products would mean losses of at least some of the investors’ principal.
 
This man would be most people’s worst neighbor
Donald Trump has been revealed as the least popular celebrity to live next door to. Zillow’s poll of celebrity neighbors shows that the presidential candidate would be the worst option for 24 per cent of all respondents, 27 per cent of women and 33 per cent of millennials. Kim Kardashian and Kanye West were in second place with Justin Bieber in third. Among those celebrities that people would like to have as a neighbor, Taylor Swift was top with 12 per cent followed by Jennifer Lawrence and Amy Schumer.

"2015 was a landmark year for Taylor Swift, from her highly successful 1989 World Tour, to being named the youngest female ever on Forbes' 100 Most Powerful Women list - it's no surprise America picked the down-to-earth singer-songwriter as 2016's most desirable neighbor," says Jeremy Wacksman, Zillow chief marketing officer. "Donald Trump on the other hand, is frequently in the limelight for his polarizing comments and non-apologetic attitude which some may see as unattractive qualities in a neighbor."
 
Golfer DJ Johnson sells Florida home
Dustin ‘DJ’ Johnson has sold his home in North Palm Beach, FL for $3.83 million according to Realtor.com. The golfer had listed the home in October for $4 million having already bought a new larger home in Palm Beach Gardens.
 

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