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The multifamily sector has seen a frenzy of apartment construction over the last decade, but it’s single-family homes that were the fastest growing type of rental between 2007 and 2016, according to a new study by RentCafe. Over the last decade, single-family rentals rose by 31 percent, while the multifamily sector grew by 14 percent. In net gain, the growth makes up 3.6 million units versus 3.2 million units added, respectively.Single-family r
The Mortgage Bankers Association reported that total mortgage application volume for refinancings and home purchases dropped 1.9 percent on a seasonally adjusted basis compared to the previous week. Volume is now 5.5 percent lower than a year ago.Refinancings were the cause of most of that drop. The share of refinancing applications fell to the lowest level in a decade, and applications are now nearly 13 percent lower than a year ago, according t
About one in five conventional mortgage loans issued this winter went to borrowers who spent more than 45 percent of their monthly incomes on their mortgage payment and other debts. This is the highest proportion since the housing crisis, according to CoreLogic, a real estate data firm. Further, that is nearly triple the proportion of such loans issued in 2016 and the first half of 2017.Real estate professionals told WSJ that they are concerned a
President Donald Trump has threatened to impose a tax on steel and aluminum from China and other countries. Both sides have threatened to impose tariffs on multiple products. In reaction, the stock market has been volatile. But will the trade disputes leave Chinese buyers skittish about U.S. real estate?“At this point, most Chinese buyers are cautiously optimistic,” Carrie Law, CEO of Juwai.com, a Chinese international real estate website, to
A jury in California ruled that a Coldwell Banker real estate agent did not breach his fiduciary duty in a case involving discrepancies in a home’s reported square footage. The case stems from a dispute that arose after Hong Kong millionaire Hiroshi Horiike purchased a Malibu mansion for $12.25 million in cash in 2007. Chris Cortazzo, the listing agent, provided Horiike with a flier that stated the home had 15,000 square feet of living space
Austin, Texas, ranked number one for the second year in a row as the top place to live in the United States, according to new rankings released by U.S. News & World Report. The magazine ranks the 125 largest metros based on affordability, employment prospects, and quality of life each year.“When deciding on a place to settle down, it’s important to understand that where a person lives can impact their well-being,” says Kim Castro, execu
About JohnI have over 20 years of experience selling, acquiring, listing and rehabbing both residential and commercial properties, as a licensed Realtor in California and as an investor and recent licensed Realtor in the state of Texas. In Southern California, for many years I owned and managed many properties throughout southern California and assisted both investors and residential home buyers acquire properties negotiating to the best possible
More generations are living under one roof together. A new analysis from the Pew Research Center shows that households with two or more adult generations hit an all-time high in 2016, using the most recent census data available for the analysis.The number of multigenerational households rose to an all-time high of 20 percent—or 64 million—of the U.S. population in 2016.The multigenerational household trend appears to be growing across nearly
The latest consumer sentiment index from Fannie Mae shows that home buyers don’t seem to be deterred by rising prices and rates, at least for now. The net share of survey respondents who said now is a good time to buy rose 10 percentage points in March month over month and is now at 32 percent, according to Fannie Mae’s Home Purchase Sentiment Index, based on a poll of about 1,000 consumers.Overall, the index rose 2.5 percent in March to a re
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