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Tag Archives: Rent prices

Report: Homeownership on Path to Sustainability

As most housing metrics turned around last year, one vital statistic stayed down: the homeownership rate. However, one analyst at Fannie Mae says low homeownership--when put in context with other data--might indicate a promising trend in sustainability; in particular, tight loan qualification standards should equate to new homeowners whose housing costs are much better aligned with incomes.

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Trulia: Owning Remains Significantly Cheaper than Renting

Even though both home prices and mortgage interest rates have been steadily rising, owning a home remains significantly cheaper than renting at the national level and in most major markets, according to Trulia. While the gap is closing between renting and owning, the company's Summer 2013 Rent vs. Buy Report indicates overall, owning is still 35 percent cheaper than renting.

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NAR Projects Slight Increase for Apartment Vacancies; Rents to Rise

Nationally, NAR forecasts slight drops in vacancy rates across the office, retail, and industrial markets over the next year. Multifamily vacancies are expected to edge up very slightly, on the other hand. The apartment rental market is expected to see vacancy rates climb to 4.0 percent in Q3 2014 from 3.9 percent in the third quarter of this year, ""with construction rising to meet increased demand."" On that token, NAR expects average apartment rents to rise 4.0 percent both this year and the next.

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Cost of Renting, Owning Unaffordable for Many Workers Across the U.S.

With the home price recovery moving along faster than income growth, many workers across the country are finding hard work is not enough to pay the bills, according to the 2013 Paycheck to Paycheck report from the Center for Housing Policy (CHP). After exploring housing affordability for mid-career professionals in travel and tourism, the report found only flight attendants could afford rent for a two-bedroom unit at fair market value in the 207 metros examined. On the other hand, housekeepers and wait staff could not afford a two-bedroom unit in any of the 207 metros.

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Freddie Mac: Multifamily Market Still a Good Investment

Even as the single-family housing market recovers, apartment properties should still be a solid investment in most markets going forward, according to Freddie Mac's analysts. In its mid-year multifamily outlook for 2013, the mortgage giant notes that multifamily market fundamentals such as rents and vacancies continue to improve, with New York, San Francisco, Denver, Seattle, and Los Angeles all seeing marked growth.

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Report: Asking Prices Slip for First Time Since November 2012

For the first time since November 2012, asking home prices decreased month-over-month, slipping 0.3 percent from June to July, Trulia reported. ""If you were worried about a housing bubble, July's asking-price slowdown will probably be the best news you've heard this year,"" said Jed Kolko, Trulia's chief economist. Factors such as rising mortgage rates, growing inventory, and declining investor demand were attributed to the dip in asking prices.

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Obama Answers Housing Questions from Public During Live Discussion

During the question and answer session hosted by Zillow, President Obama reiterated his stated goals to bring a gradual end to Fannie Mae and Freddie Mac, to bring private capital into the housing market, and to offer affordable housing options--both rental options and 30-year mortgages. ""We're actually confident that the private market can step in, do a good job, and the government can be a backstop,"" Obama said, adding, ""In some ways it's a return to earlier models.""

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New York City Housing Crisis Not Over Yet

New York City followed the nation's overall boom-bust cycle during the housing crisis and now appears to be on the mend--like much of the nation. However, some parts of the metro area are not yet experiencing the housing recovery that is making headlines in other parts of the nation, according to a report from New York University's Furman Center for Real Estate & Urban Policy.

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Survey: Most California Investors Opting to Hold Rather than Flip

A survey from the California Association of Realtors (C.A.R.) revealed preferences and strategies of a typical California investor. For the most part, investors in the Golden State plan to keep their purchase for at least a year. According to the survey, 26 percent of investors who worked with Realtors over the last 12 months before April 2013 said they intend to flip the property within a year, while 66 percent plan to keep the property for more than a year as a rental.

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