Real estate firm in new partnership with Uber
A new initiative in San Francisco has partnered Uber with developer Maximus Real Estate with the aim of persuading residents to use ridesharing and public transportation.
The deal, which Uber hopes will roll-out elsewhere in the country, will give a $100 subsidy for Uber and public transportation each month to residents of Maximus’ Parkmerced development of 3,000 apartments.
Forbes.com reports that 30 per cent of the subsidy must be used with Uber but in return there is a cap on the cost of journeys from the development to nearby transit stations.
A win for Trump, Sanders would hit housing say experts
Experts are weighing the impact that a presidential win for Bernie Sanders or Donald Trump would have on the housing market. Zillow’s Home Price Expectations Survey of more than 100 economists, real estate experts and academics reveals that John Kasich or Hillary Clinton would have a positive or neutral impact on home values.
Panelists expect a 4 per cent gain for home prices in 2016, up from the previous survey’s 3.7 per cent outlook.
Prices, they said, will slow to 3.4 per cent in 2017, 3 per cent in 2018 & 2019 and 2.8 per cent in 2020.
When asked what was driving higher prices, more than half said low inventory with 20 per cent citing low mortgage rates and 17 per cent higher wage and job market growth.
Lowe’s, Home Depot results point to repairs, renovations
Two major home-focused retailers have reported their financial results for the first quarter this week. Lowe’s and Home Depot have both posted strong results.
According to Fortune.com both retailers are benefitting from higher home prices and confidence in the housing market with many homeowners now doing the repairs and renovations that were postponed from the financial crisis.