Morning Briefing: We’re still in a housing crisis survey reveals

by Steve Randall17 Jun 2016
We’re still in a housing crisis survey reveals
A new study reveals that 81 per cent of Americans believe that the housing affordability crisis in on the rise. More than two-thirds of respondents in a national survey by the MacArthur Foundation say that it is more challenging to find affordable housing now than for previous generations.

Just 29 per cent believe that the housing crisis is over and 76 per cent say that it is important that their elected leaders in Washington take action to address the situation.

The majority (60 per cent) believe that owning a home is an excellent long-term investment.

One area that has recently been named the metro with the highest level of underwater homes is also far above the national average for concern over affordability and putting household budgets under extreme pressure.

Almost half (48 per cent) of adults in Chicago – 40 per cent in the suburbs – are spending at least 30 per cent of their income on housing costs. Nationally that is the case for 31 per cent of adults.

Almost half (47 per cent) of Chicago residents believe that the city is in the midst of a housing crisis; 26 per cent expect it to get worse. In the suburbs, 54 per cent believe they are in the middle of a crisis with 12 per cent expecting greater pain ahead.
 
Builders more confident for single-family homes market
Confidence in the market for newly-built single-family homes has risen this month. The National Association of Homebuilders housing market index in conjunction with mortgage lender Wells Fargo, shows a 2 per cent rise in June.

“Rising home sales, an improving economy and the fact that the HMI gauge measuring future sales expectations is running at an eight-month high are all positive factors indicating that the housing market should continue to move forward in the second half of 2016,” said NAHB Chief Economist Robert Dietz.

The measures of sales conditions, expectation for sales in the next 6 months, and buyer traffic; were all higher.
 
Top Hispanic real estate pros named
Latino real estate professionals across America have been named in an annual report.

The National Association of Hispanic Real Estate Professionals, in association with Zillow, compiled the list of top millennial agents, top individual agents and for the first time also ranks agents by volume and gross commission income.

“With a strong surge in Hispanic homeownership, it was an outstanding year for new homebuyers and the real estate professionals who served them,” said Joseph Nery, NAHREP President.

The top five agents were:
  1. Claudia Restrepo, Keller Williams Realty The Legacy Group, WA
  2. Mario Negron, RE/MAX Prestige – Houston New Home Team, TX
  3. Marshall Carrasco, Marshall Realty, NV
  4. Mark Dimas, Winhill Advisors, TX
  5. William Bustos, Keller Williams Realty Utah Realtors – William Bustos Group, UT
Nominations for the Top 250 were received from numerous small and major markets, with Chicago, Los Angeles, Dallas, and Miami leading the way as the cities with the most submissions. For the second consecutive year, RE/MAX was the most highly represented brand with 61 agents on the list, followed by Century 21 with 38.
 

COMMENTS

Poll

Is TILA-RESPA a good or bad thing long term?