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Kathy Fettke / RealWealth
Don’t get caught off guard by market crashes that can take all your money down with them. And don’t miss out on markets where you can build wealth practically overnight. Real Estate News for Investors with Kathy Fettke is the premiere source for savvy real estate investors who want to stay up-to-date on new laws, regulations, and economic events that affect real estate. Topics include: market trends, economic analysis that affects housing prices, updates on the best rental markets for investing in single-family rentals or multi-unit rentals, turn-key housing standards, the fate of the highly revered 1031 exchange and other tax law affecting investors, self-directed IRA investing and 401k changes, where rents and property values are rising or falling, flipping risks, new Dodd-Frank rules regarding private lending and financing standards, areas with job losses vs job growth, areas that are overbuilt or over-supplied versus areas with low supply and high demand, and how to avoid real estate scams.
We'll bring you the latest reports from organizations like the National Association of Realtors, Realty Trac, Fannie Mae, Freddie Mac, Zillow, Trulia, Redfin, Rent Range, Property Radar, the Norris Group, Peter Schiff, Robert Kiyosaki’s Rich Dad, Suse Orman, Bigger Pockets, Dave Ramsey and more. And we'll help you interpret the data in terms that make sense for your real estate goals, and portfolio. Grow and protect your wealth by staying on the forefront of economic data analysis, expert opinions, innovative investing strategies and profitable investment opportunities. We'll share all the top real estate news stories and the best trade secrets investors should know, so you can stay ahead of the curve and make fully informed real estate decisions.
Host Kathy Fettke is Co-CEO of the Real Wealth Network, author of Retire Rich with Rentals and host of the Real Wealth Show on iTunes. She brings decades of media and real estate investing experience, offers her own viewpoints on particular topics, and taps into her network of real estate experts for real world news updates created just for investors like you. Get the real news on real estate on Real Estate News For Investors podcast!
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Real Estate: Defending the Industry as an “Essential Service” During New Lockdowns
As the coronavirus pandemic gets worse, some states are beginning to implement new restrictions and lockdowns on non-essential services. That’s reigniting a battle on whether real estate should be considered “essential.” Here are a few talking points in defense of the industry. www.NewsForInvestors.com
03:5125/11/2020
Real Estate News Brief: Fed Calls for More Stimulus, New Mortgage Rate Low, November Rent Collection
The Federal Reserve and the Treasury are at odds over the need for economic relief, while unemployment claims rise. Good news on the housing market and mortgage rates, although NAR warns about high home prices. The latest rent collection numbers, and a few words of wisdom from Jamie Dimon about the traits of a successful leader. www.NewsForInvestors.com
06:3025/11/2020
Affordable Housing: Biden’s Plan for Buyers and Renters
With Joe Biden set to become the 46th President in January, there’s plenty of talk about how his policies will impact housing. This is especially important as the red hot housing market becomes less affordable for both owners and renters, and builders are unable to fill the inventory gap. Biden’s plan includes a $15,000 tax credit for first-time homebuyers, expansion of the Section 8 voucher program, and billions of dollars for new construction, renovations, and energy retrofits. www.NewsForInvestors.com
04:4821/11/2020
Real Estate News Brief: Homebuyers on Pause, Big Earnings for eXp Realty, Fraud Warning for Landlords
In this Real Estate News Brief for the week ending November 14th, 2020… homebuyers on pause, big earnings for a cloud-based national realty, and a fraud warning for landlords and property managers. We begin with economic news that was impacted by a tense political standoff over the presidential election and a surging number of coronavirus cases. Home buyers hit the pause button, and consumer confidence fell to a three-month low, but the housing market is still booming. www.NewsForInvestors.com
05:3219/11/2020
Proptech: Hubzu, Homesnap, SafeShowings, & a Mysterious Money Raise
Hubzu’s new mobile app, Homesnap’s new home pricing tool, SafeShowings expansion in California, and a mysterious money-raise for a tech venture by ex-Zillow execs. Hubzu is making it easier to have on-the-go access with a new mobile app. The online marketing platform gives users a way to find and bid on residential real estate auctions that include foreclosures, short sales, and retail sales. The app will give users mobile access with iOS and Android phones. www.NewsForInvestors.com
04:5217/11/2020
Housing Trends: Impact of Millennial Move-Outs on Rental Market
It’s the first time since the Great Depression that a majority of adults are living with Mom and Dad. Blame it on the pandemic, college closures, and job losses. A study by Pew Research shows that 52% of young people are living with one or both parents.
04:4114/11/2020
Real Estate News Brief: Interest Rate Decision, Zombie Foreclosures, and the “One Tree Pledge”
The latest economic news on economic policy, the job market, construction spending, mortgage rates, California rent control, zombie foreclosures, and a builder’s effort to reduce his carbon footprint. We begin with economic news from this past week and another vote by the Federal Reserve to leave overnight interest rates right where they are, near zero. Board members met for their monthly meeting in the midst of a contentious presidential election. It now appears that former vice president Joe Biden will be our next president, although President Trump's team is calling for recounts and litigation. www.NewsForInvestors.com
06:0109/11/2020
Real Estate Market: Housing Groups Sue Redfin for Digital Redlining
Several housing organizations filed a lawsuit accusing Redfin of a modern-day form of redlining. At issue is the level of service that Redfin offers to different communities and whether minority communities are being shortchanged. Redfin denies any discriminatory practice, saying decisions are based on legitimate business reasons. www.NewsForInvestors.com
05:0405/11/2020
Real Estate News Brief: GDP Rebound, 2030 Home Prices, and a Motive for Moving
In this Real Estate News Brief for the week ending October 31st, 2020... a report on the strength of the economic rebound, a forecast on 2030 home prices, and the primary reason that people are looking for new homes. It’s been a volatile week for the stock market as investors worry about the pandemic and the presidential election, but there are some strong economic reports to share, including one on the third quarter GDP. www.NewsForInvestors.com
05:4404/11/2020
Foreclosures: CA Law Gives Owners, Tenants First Dibs on Purchase
New California law gives owners, tenants, non-profits, and local governments a chance to outbid investors who buy foreclosures. It also bans the “auction bundling” of foreclosed homes, and prevents foreclosure blight with big fines. www.NewsForInvestors.com
05:2131/10/2020
Home Loans: Lenders Expect a Busy 2021 for New Loans as Refi's Slow
The Mortgage Bankers Association is forecasting another busy year for lenders. It’s predicting that American home buyers will be taking out a record number of home loans in 2021 while refinancing activity slows down. www.NewsForInvestors.com
03:5829/10/2020
Real Estate News Brief: Home Buying Frenzy, Forbearance Extension, Fed Considers U.S. Crypto
In this Real Estate News Brief for the week ending October 24th, 2020... the home buying frenzy continues, the government extends its forbearance program, and the Federal Reserve talks about the possible issuing of digital currency. www.NewsForInvestors.com
05:4328/10/2020
Housing Trends: Cruise Ship Condos for Digital Nomads, Expats, Crypto Entrepreneurs
A company that helps people live “off-the-grid” in floating sea pod homes is now offering a different kind of live-work-play experience. Ocean Builders is converting a former cruise ship into a floating condominium complex off the coast of Panama for digital nomads, expats, researchers, start-ups, and crypto businesses. And you can own one for as little as $25,000. www.NewsForInvestors.com
04:4223/10/2020
Election 2020: Rent Control, Property Tax Measures Are Shaking Things Up in California
California voters will tackle three thorny real estate issues on November 3rd. One will raise taxes on a significant group of taxpayers, while another will provide a property tax reprieve, and a third will allow new rent control measures for virtually all rental properties, including single-family homes. In this episode, you’ll hear more about Propositions 15, 19, and 21 in the 2020 California election. www.NewsForInvestors.com
07:3422/10/2020
Real Estate News Brief: New Mortgage Low, Pandemic Migration, Condo Comeback
In this Real Estate News Brief for the week ending October 17th, 2020, mortgage rates hit a new low, the pandemic migration hits 16 million, and condos are headed for a comeback. We begin with economic news from this past week that shows mixed results. On the employment front, jobless claims surged to a 7-week high. www.NewsForInvestors.com
05:5120/10/2020
Short-Term Rentals: Airbnb Bans One-Night Bookings for Halloween
If you’re thinking about hosting a Halloween party at the end of the month, you won’t be able to do it at an Airbnb. Airbnb announced a ban on one-night whole house reservations for Halloween weekend. It’s not only a way to keep peace with the hosts and with neighbors, but a way to prevent the spread of the coronavirus. www.NewsForInvestors.com
05:0417/10/2020
COVID-19: Landlords Can Begin Evictions Now
The federal government issued new guidelines on the CDC eviction moratorium. It clears up some questions that legal experts have been debating on what landlords can and can’t do including when eviction proceedings can begin. While it clarifies certain aspects of the moratorium for property owners, some scholars say it may also make it more confusing. www.NewsForInvestors.com
05:0517/10/2020
Real Estate News Brief: Fed Chief Urges Stimulus, Job Recovery Slows, Haunted Zillow Listing
In this Real Estate News Brief for the week ending October 10th, 2020... Fed Chief calls for more stimulus, the job market recovery cools off, and a haunted house appears on Zillow. We begin with economic news from this past week, and comments from Fed Chief Jerome Powell about the need for more stimulus. In a speech to the National Association for Business Economics, he said it’s better for Congress to offer too much support than too little. www.NewsForInvestors.com
05:3712/10/2020
COVID-19: Long Wait for PPP Loan Forgiveness
The Small Business Administration says it has begun PPP loan forgiveness after some frustrating delays. The Paycheck Protection Program was introduced in April, and tens of thousands of small business owners have been waiting to have those loans forgiven. Banks say the process for converting loans into grants has been complicated, but the SBA says it now expects to move quickly on the approval and payoff of those loans. www.NewsForInvestors.com
03:4812/10/2020
PropTech: No Hassle Co-Ownership of a Second Home with Pacaso
There’s a new twist on the old timeshare. It’s a start-up called Pacaso that takes the timeshare model and expands it to something closer to owning your own single-family vacation home. Instead of owning a second home and all the costs that go along with it, Pacaso finds co-owners to share the expense. Scheduling for use of the home is flexible, and allows for much greater access than a timeshare. And, Pacaso takes care of all the management. www.NewsForInvestors.com
06:5810/10/2020
Housing Trends: Home Buyer Migration Could Flip Red States to Blue
Home buyers searching for affordable markets may be changing the political landscape. A new Realtor.com analysis shows that blue state home buyers are searching for new homes in red states. It’s unclear if these search results represent actual migrations, but they could indicate a shift in voter preferences for several important swing states. And that could have an impact on the upcoming presidential election. www.NewsForInvestors.com
03:3810/10/2020
Real Estate News Brief: New Home Milestone, Small Business Optimism, Daily Commute Goodbye
In this Real Estate News Brief for the week ending October 3rd, 2020... the sale of new homes hit a big milestone in September, small business owners are feeling optimistic about survival, and why the daily commute could be gone for good. We begin with economic news from this past week that has been overshadowed by news that President Trump tested positive for the coronavirus. www.NewsForInvestors.com
05:1906/10/2020
U.S. Economy: Goods, Services Cost More; Mortgages Are Next
Official reports on consumer prices show that inflation is on the low side, but the true cost of living feels a little different. The cost of things that people are actually buying have risen sharply during the pandemic -- things like food, cleaning products, used cars, medical care, and real estate. Although the Fed feels that we’re likely to see an extended period of low inflation, some economists say “inflation is already here.” At least one financing expert is also predicting that this low mortgage rate bonanza is about to end. www.NewsForInvestors.com
07:4405/10/2020
Housing Market: Pandemic-Induced Dreams About Real Estate
Many people have reported an unusual side effect of the pandemic. They say they’ve been having more intense dreams than normal, and can often remember them when they wake up. Sleep experts call them “quarandreams.” And oddly enough, many of them are focused on “real estate.” Sleep experts say it’s not surprising that people are dreaming more vividly right now. It could be due to more stress because of the virus, more time to sleep without interruption, or less noise to interfere with sleep. Or maybe something else entirely. But the real estate-focused subject matter may be something to pay attention to because a house often represents our current emotional state. And according to experts, dreams are a way we send a message to ourselves about what we may want or need. In this case, Realtor.com teamed up with author and sleep analyst, Layne Dalfen, to come up with a list of common real estate dreams and what they might mean. www.NewsForInvestors.com
05:3302/10/2020
Real Estate News Brief: Homes Sales Soar, Remote Workers Migrate, Top Color for 2021
In this Real Estate News Brief for the week ending September 26th, 2020... home sales hit new highs, remote workers head south, and a new color-of-the-year for your wall. We begin with economic news from this past week, and testimony from Fed Chief Jerome Powell that rattled stock investors. As you know, Wall Street doesn’t like uncertainty, and that’s what Powell dished up for members of Congress last Tuesday. www.NewsForInvestors.com
05:1628/09/2020
Rent Growth: Tenants Pay More to Live Near Their Favorite Grocery Store
The presence of a Whole Foods on the ground level of an apartment building provides a big bump in rental rates for landlords. There’s a new study that shows renters will pay a premium to live so close to a high-end grocery store. The so-called “premium grocer effect” also applies to single-family neighborhoods with an impact on home prices and equity, if there’s a favorite grocery store nearby. www.NewsForInvestors.com
05:0728/09/2020
Housing Market: Existing Home Deficit Fuels New Build Market
Existing home inventory is down. It’s gotten much worse since the start of the pandemic. Realtor.com says there are almost 400,000 fewer homes on the MLS than there were at the same time last year. The lack of inventory is pushing home prices higher, and reducing the number of days it takes to sell a home. That’s pushing many homebuyers and investors into the new home market. www.NewsForInvestors.com
05:2226/09/2020
Job Market: Pay Cuts Could Influence Remote Worker Moves
The pandemic has turned many office employees into remote workers, and for some, that could mean the freedom to move to a new, less expensive location. Some businesses are even encouraging employees to move, with a bonus. But there is a catch. Employees who move to a place with a lower cost of living, may also get a pay cut, and that’s not sitting well with some of them. Payment processing company Stripe is one company that is encouraging employees to move. It has offices in 16 cities around the globe and almost 3,000 employees. It’s giving $20,000 to employees who move from some of the bigger cities like San Francisco, New York, and Seattle, but is also telling them they’ll get a 10% pay cut. The pay cut will correspond to a lower cost of living in the city they move to. www.NewsForInvestors.com
05:5023/09/2020
Real Estate News Brief: GDP Forecast Rises, Young Adults Move Home, Detroit Rental Market “Wacky” (in a good way)
In this Real Estate News Brief for the week ending September 19th, 2020... the Federal Reserve offers an improved 2020 forecast for U.S. economic growth, empty nesters are getting their adult kids back, and the Detroit rental market has gotten “wacky.” We begin with economic news from this past week, and an update on economic policy from the Federal Reserve. The Fed said in a statement it expects to keep short-term bank rates near zero until the end of 2023, and that inflation would have to rise above 2% for “some time” before rates are increased. www.NewsForInvestors.com
05:5421/09/2020
Single-Family Rentals: Pandemic Rent Growth Slide Stabilizes
A decline in rent growth for single-family homes brought on by the pandemic appears to have stabilized. The CoreLogic Single-Family Rent Index shows that it moved higher in July at a year-over-year rate of 1.7%. It had sunk to 1.4% in June. While that’s good for the nation, metros vary and some have more catching up to do than others. The pandemic swept across the country in February, forcing businesses to close and leaving a huge number of people unemployed. Many single-family landlords lowered their rents to keep tenants in place. That brought a steady rate of rental increases in the SFR marketplace to a much lower level. According to data from CoreLogic, they were rising at an average of 2.9% during the first quarter of the year. From there, they slide to 1.7% in May and then 1.4% in June. www.NewsForInvestors.com
04:4318/09/2020
Real Estate: Delinquencies Spike, Hint at New Foreclosure Crisis
There was a slight uptick in foreclosure filings in the U.S. as the pandemic continues and an agreement on a new stimulus to help ailing homeowners has stalled. Real estate data firm CoreLogic released a report that shows serious delinquencies spiked in June. Without government assistance or major job market improvement by the end of the year, those delinquencies could turn into foreclosures. The CoreLogic report shows that 2.9% percent of U.S. home loans were overdue by 90 to 119 days in June. That’s the highest they’ve been in 21 years, according to CoreLogic’s chief economist Frank Nothaft. He says: “If there are new government programs, maybe that alleviates some of the risks, but given what we know today, we could be looking at a serious delinquency rate that is four times higher at the end of 2021 than it was before the start of the pandemic.” www.NewsForInvestors.com
05:4216/09/2020
Eviction Ban: Short-Term Band-Aid, Long-Term Disaster
A national eviction ban is now in place that protects tenants for the rest of the year without offering any help for landlords. The Centers for Disease Control and Prevention announced it as an emergency health measure to prevent the further spread of COVID-19. But it does little to solve the problem of unpaid rent for landlords, who have bills to pay, or tenants, who face a giant balloon payment when the moratorium expires. The CDC order went into effect on September 4th and runs through December 31st. That gives tenants a four-month reprieve from their rent obligations, if they don’t have the means to pay. Local eviction bans that provide equal or greater protection for tenants take precedence, so properties already covered by a COVID-19 eviction ban, are likely exempt from the national ban. www.NewsForInvestors.com
06:2516/09/2020
Real Estate: Surge in Eviction Filings Despite National Ban
Corporate landlords are defying the federal eviction ban with a surge in new filings. According to one report, institutional landlords filed more than 900 eviction cases in eight metro areas during the week after the ban was announced. The ban attempts to protect tenants who can’t pay their rent because of the pandemic, but the moratorium is not preventing landlords from challenging tenant claims about their finances. The Private Equity Stakeholder Project was already tracking evictions during the COVID-19 pandemic before the CDC announced a national moratorium on evictions, and that in early August, the big landlords had only filed 165 eviction claims. The organization attempts to connect investors with the people and communities that are impacted by private equity investments. www.NewsForInvestors.com
06:2016/09/2020
Real Estate News Brief: Best-Ever Mortgage Rates, September Rent Collection, Housing Market “Sugar High”
In this Real Estate News Brief for the week ending September 12th, 2020... mortgage rates dipped into record territory once again, apartment rent collection numbers, and a housing market that is on a “sugar high.” We begin with economic news from this past week, and a mixed report on the job market. The number of people applying for jobless benefits rose slightly this last week. Continuing claims were also slightly higher than they were the week before. But, the government reported a 1.4 million increase in newly created jobs, and an unemployment rate that fell from 10.2% to 8.4%. www.NewsForInvestors.com
05:0715/09/2020
Crystal Lagoons: Post-COVID Plans Underway for Major Expansion
The pandemic is not dampening enthusiasm for Crystal Lagoons. In fact, the Crystal Lagoons company says it’s expanding its model for lagoons built for public access, and expects post-pandemic demand to rise. It says people will want to enjoy a vacation-like atmosphere without going on a plane. At Real Wealth, we are looking forward to the 2020 opening of a lagoon connected with one of our developments in Florida. We’ve been excited about Crystal Lagoons since they were first introduced several years ago as a way to create a tropical beach paradise of any size on just about any piece of property in the world. They change the real estate concept of location, location, location to “wherever you want to build,” because these lagoons “create” a location. www.NewsForInvestors.com
05:2210/09/2020
Real Estate News Brief: Job Market Surprise, Federal Eviction Moratorium, Second Home Boom
In this Real Estate News Brief for the week ending September 5th, 2020... upbeat reports on new jobs and unemployment, another nationwide eviction moratorium, and a pandemic-inspired boom in the purchase of second homes. We have the latest economic news from this past week, and some good news about the job market and residential construction. But, overshadowing those headlines is an announcement from the federal government for a new nationwide eviction moratorium. www.NewsForInvestors.com
06:2710/09/2020
COVID-19: New CA Tenant Protection Law Increases Foreclosure Risk for Landlords
Some California landlords say a new tenant protection law increases their risk of foreclosure, although the new law is better than the one it replaces. Governor Gavin Newsom signed AB-3088 on August 31st just hours before previous eviction moratoriums expired. Because it includes an emergency clause, it went into effect right away, protecting tenants for another five months. Newsom approved the COVID-19 Tenant Relief Act of 2020 after “feverish” negotiations by lawmakers and landlord groups. They hammered out AB-3088 as a compromise bill while the clock ticked down on the deadline. Without a deal, the Sacramento Bee says as many as four million California tenants would have been at risk of eviction, for unpaid rent. www.NewsForInvestors.com
06:2304/09/2020
New Builds: Lumber Pipeline Runs Short as Home Prices Run High
Lumber has become a sizzling hot commodity during the pandemic, and when commodities sizzle, so does the price tag. The cost of lumber has shot sky high since April, and that’s adding thousands on to the cost of new homes and renovations. For some, it isn’t a matter of price. It’s a matter of whether you can get the lumber you need. In a report by Fortune, research by Random Lengths shows that lumber prices have soared 134% year-over-year due to a lumber shortage and high demand. www.NewsForInvestors.com
05:1004/09/2020
Real Estate News Brief: New Fed Policy, Surging Home Sales, Refi Fee Delayed
In this Real Estate News Brief for the week ending August 29th, 2020... the Fed unveils a new monetary policy that will allow higher inflation, home sales surge to the highest level since 2006, and the FHFA announced a delay in the new fee on refinance loans. We begin with economic news from this past week, and a new inflation control strategy from the Federal Reserve. Fed officials unveiled the new policy this last week after approval by all 17 committee members. The Fed will now shoot for an “average inflation target” of 2%. www.NewsForInvestors.com
06:1801/09/2020
Build-to-Rent: New Go-To Strategy for Single-Family Rentals
The pandemic isn’t the only reason that demand is growing for single-family rentals, but it is one of them. And with an already tight supply of existing homes that can be turned into single-family rentals, the build-to-rent strategy is gaining momentum. There’s a new report out from RCLCO Real Estate Advisors that says that demand for single-family rentals will likely outstrip supply for the next ten years, creating “a strong opportunity” for developers, builders, and investors. www.NewsForInvestors.com
05:4129/08/2020
Mortgage Market: GSE’s Strike Back as Backlash Grows Over Refi Fee
The CEOs of Fannie Mae and Freddie Mac are responding to a massive backlash over an unexpected refinancing fee. In a letter to lenders, they wrote that the uproar was unwarranted, saying it won’t make much of a difference to a homeowner’s monthly payment. And the fee will help the mortgage guarantee companies continue their work of helping others. If you haven’t heard of the fee yet, it’s a half point surcharge on the cost of a refi that takes effect on September 1st. For the average $280,000 refi, that’s about $1400 added into the amount that is being financed. www.NewsForInvestors.com
05:0225/08/2020
Real Estate News Brief: Home Sales Soar, Rent Collection Near Normal, Airbnb Party House Ban
In this Real Estate News Brief for the week ending August 22nd, 2020... home sales are soaring, rent collection is near normal, and Airbnb bans party homes. We begin with economic news from this past week, and lawmakers that are still battling it out over a new stimulus package. An agreement could be reached soon that includes another $1,200 stimulus check, but the two sides are still about $1 trillion apart on the total amount of a deal. Still being debated are the unemployment bonus, the extension of eviction moratoriums, and new funding for schools and local governments. The Republicans are calling their proposal the Heals Act while the Democrats are calling theirs the Heroes Act. www.NewsForInvestors.com
05:5222/08/2020
Job Market: Amazon Bets on the Future of Office Space
The job market is undergoing a big transformation right now because of the coronavirus. Many businesses have adopted work-from-home policies, for at least the near term, to keep the virus from spreading at the office. The situation has raised questions about whether we’ll see businesses resurrect an upgraded version of the office workspace, and for one big company, that answer appears to be “yes.” www.NewsForInvestors.com
05:2422/08/2020
U.S. Economy: Joe Biden’s Tax Proposal for Pandemic-Related Debt
We typically steer away from politics in this podcast but a change in the presidency could bring about tax changes that impact real estate investors and high-income taxpayers. Some of our listeners have requested a podcast on what Democratic nominee Joe Biden is proposing if he becomes president, so I thought I’d dedicate this podcast to what we know of his plan. www.NewsForInvestors.com
10:0120/08/2020
Due Diligence: California Real Estate Ponzi Scheme Uncovers Fraud
The death of a California real estate investor has uncovered what appears to be a 30-year-old Ponzi scheme and hundreds of victims who don’t know if or when they’ll get their money back. Kenneth Casey died suddenly of a heart attack in May which led to a post-death audit and the discovery of financial irregularities at his two companies. In addition to an SEC investigation, investors are now hoping that a bankruptcy filing will help them recover some of the millions that they have invested. www.NewsForInvestors.com
06:2718/08/2020
Real Estate News Brief: Jobless Claims Drop, Home Prices Rise, Social Security Worries Grow
In this Real Estate News Brief for the week ending August 15th, 2020... a new pandemic low for jobless claims, the kind of homes that are pricing higher, and a poll on the future of Social Security. We begin with economic news from this past week, and a stalemate in Congress over a new round of stimulus relief. Both sides are blaming the other for the hold-up while millions of Americans are coming up short on money they need to pay bills. www.NewsForInvestors.com
05:5814/08/2020
Breaking News: New Adverse Market Refinancing Fee
Refinancing your home just got more expensive. In the midst of the current mortgage refinancing boom because of low rates, Fannie Mae and Freddie Mac just announced a new half point fee. They say it’s the result of market uncertainty, but real estate and mortgage industry leaders say it’s a money grab that’s happening at a very bad time for homeowners. The Federal Housing Finance Agency announced the fee on August 12th saying there would be a new half point fee on most loans backed by Fannie and Freddie starting next month. www.NewsForInvestors.com
04:4414/08/2020
Personal Wealth: One-Two Punch for Millennials
Millennials are now the largest generation, and their homebuying years are underway, but they are behind the eight ball when it comes to having the money to purchase a home. Born between 1981 and 1996, they are dealing with their second financial crisis, and many haven’t recovered yet from the first one. According to some financial experts, this second career slump could keep them from generating the same kind of wealth as past generations. It may also keep many of them in rental housing for much longer than they expected. www.NewsForInvestors.com
05:0614/08/2020
Real Estate News Brief: Mortgage Rates, Disclosure Rule, Home Hideout
In this Real Estate News Brief for the week ending August 8th, 2020... some positive news about mortgage rates, a new disclosure rule for landlords, and where people “hide out” at home. We begin with economic news from this past week that is highlighted by negotiations in Congress for a new economic stimulus package. At the time this podcast was written, the two sides were at an impasse, the $600-a-week unemployment bonus had expired, and eviction moratoriums were ending. www.NewsForInvestors.com
05:4311/08/2020
Single-Family Inventory: New Report Predicts Surge in Foreclosures
As millions of Americans remain out of work and forbearance programs expire, there are new predictions about a surge in foreclosures. An analysis by ATTOM Data Solutions shows that foreclosures could more than double in the next year because of delinquent loan payments. The analysis includes best to worst case scenarios with the middle case showing a rise from 145,000 current foreclosures to about 336,000 in quarter two of next year. www.NewsForInvestors.com
05:3708/08/2020