The Real Estate News Brief: Home Buying Surge, Q3 Built-to-Rent Starts, Rent Impact on Paychecks
Description
In this Real Estate News Brief for the week ending November 23rd, 2024… why home buyers are suddenly jumping back in, what the data shows about single-family built-to-rent homes, and what renters are doing to make sure they can pay their rent each month.
Hi, I'm Rich Fettke, filling in for Kathy on this episode of Real Estate News for Investors. When you get a minute, please leave a review for this podcast! It really helps us when people who appreciate our podcast share their opinions with newcomers.
We begin this News Brief with the latest economic news. The upcoming week will be packed with a number of reports despite the Thanksgiving holiday. That includes the Personal Consumption Expenditure index or PCE for October, which is the Fed’s favorite inflation gauge. Looking back over the past week, the unemployment report shows that initial claims hit their lowest level in seven months, but the data suggests that it’s taking much longer for the unemployed to find jobs. New jobless claims were down 6,000 from the week before, to a total of 219,000. Ongoing claims were higher, at 1.9 million...
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References:
1 - https://www.marketwatch.com/story/jobless-claims-drop-to-seven-month-low-as-the-u-s-economy-plows-ahead-7d62fd78?mod=mw_latestnews
2 - https://www.marketwatch.com/story/new-home-construction-dips-in-october-f0404276?mod=mw_rss_topstories
3 - https://www.marketwatch.com/story/builder-confidence-index-jumps-to-7-month-high-after-trump-win-77e03e2f?mod=mw_latestnews
4 - https://www.marketwatch.com/story/existing-home-sales-rise-in-october-but-remain-at-a-low-level-3539eaca?mod=mw_latestnews
5 - https://www.marketwatch.com/story/election-leave-u-s-consumer-sentiment-frozen-republicans-excited-democrats-dispirited-9f794fad?mod=home-page
6 - https://www.freddiemac.com/pmms
7 - https://www.redfin.com/news/housing-market-update-homebuying-demand-jumps/
8 - https://eyeonhousing.org/2024/11/growth-for-single-family-built-for-rent-construction/
9 - https://www.redfin.com/news/survey-how-renters-afford-housing/
The combination of high mortgage rates and record high home prices has priced out millions of Americans from buying a home or investment property. On today’s real estate news show, we’ll dive into CoreLogic's recent Home Equity Insights Report for the 2nd quarter of 2024 to determine if it still...
Published 11/22/24
Californians are looking for a lifestyle affordability fix, and Arizona seems to have what they want. A new study by Storage Cafe shows several migration patterns from Southern California to various counties in Arizona, Phoenix being the most popular.
Hi I’m Kathy Fettke and this is Real Estate...
Published 11/20/24