Harvard Study: Epic Housing Shortage Being Reported
A Harvard study shows an epic housing shortage being reported. The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blog from JCHS revealed some of the more surprising aspects of the study.
The first two revelations centered around the shortage of housing inventory currently available in both existing homes and new construction.
Regarding Existing Home Inventory:
“For the fourth year in a row, the inventory of homes for sale across the US not only failed to recover, but dropped yet again. At the end of 2016 there were historically low 1.65 million homes for sale nationwide, which at the current sales rate was just 3.6 months of supply – almost half of the 6.0 months level that is considered a balanced market.”
Regarding New Home Inventory:
“Markets nationwide are still feeling the effects of the deep and extended decline in housing construction. Over the past 10 years, just 9 million new housing units were completed and added to the housing stock. This was the lowest 10-year period on records dating back to the 1970s, and far below the 14 and 15 million units averaged over the 1980s and 1990s.”
Bottom Line
The biggest challenge in today’s market is getting current homeowners and builders to realize the opportunity they have to maximize profit by selling and/or building NOW!!
Call Us Now To Sell Your Home…
Office: 909.985.9392 or Text Us: 714.657.6634
[gravityform id=”15″ title=”true” description=”true”]
31% Of Foreclosures In March Strategic Defaults….Strategic Short Sale Defaults on the Rise
This morning executives at Bank of America[BAC 15.81 0.37 (+2.4%) ] rolled out their new "Principal Reduction Enhancement" program, which is an earned principal forgiveness plan for borrowers behind on their mortgages and whose loans are at least 20 percent...
Home Buyer Tax Incentive Lost To Many Due To Lengthy Short Sales And Lenders Timelines!
By: Diana Olick CNBC Real Estate Report Everybody take a nice long look at today'sPending Home Sales Index from the National Association of Realtors, because it's just about the last positive picture we're going to see for a while. Yes, the index rose even more than...
FREDDIE HAFA: Freddie Mac Rolls Out HAFA Initiatives For Homeowners Facing Foreclosure
BREAKING NEWS! FREDDIE MAC is stepping up with the FREDDIE HAFA like program...on the footsteps of It's "sister" Fannie Mae who released it's guidelines last night. The highlights: Sellers get $3,000.00 for Moving Expenses Servicers get $2,200.00 for "playing along"...
Strategic Short Sale Defaults…Homeowner's Saving Money VS Paying Mortgage
Shadow Inventory of Homes to Take Nearly 3 Years to Clear: Standard & Poor's
The “shadow inventory” of bank-repossessed properties, as well as distressed mortgages facing foreclosure, will take nearly three years to clear at the current sales rate, according to a report from the credit rating agencyStandard & Poor’s (S&P). The analysts...
Fannie Mae Program Turns Homeowners into Renters….Slowing Down Foreclosure,Shadow Inventory?
Miguel Gutierrez said the goal of Fannie Mae is to minimize family displacement for borrowers that participate in a deed-in-lieu of foreclosure program, launched early in November 2009, while managing it in a way so as to not put any undue pressure on Fannie’s...
FANNIE HAFA: Fannie Mae New HAFA "Like" Program…Short Sales Accepted
After months of waiting. Fannie Mae announced today their own version of the HAFA program that was intituted April 5, 2010. When: August 1, 2010 Who: All conventional loans held in Fannie Mae's portfolio are eligible Servicers get $2,200 for Short Sales and $1,200...
Over 12% Of All U.S. Home Mortgages Are Delinquent…Short Sale May Avoid Foreclosures
Home Owners Choosing Their Own "Loan Modification" Strategic Default Short Sale…?
An article just hit the press today about a family that stopped paying their mortgage last summer when they could not get a loan modification. I'm still trying to grasp what's really going on here in our Wonderful Land of The FREE.... Ironic that our weekend put us...
Sex and the City 2: Get the Look at Home
Sex and the City 2: Get the Look at Home. Whether you love them or hate them, there is one thing you simply can't deny about the cast of Sex and the City 2: They've got style. From their heads to their toes, from their table lamps to their rugs. But let's be serious--...
Cyclist Christian Vande Velde Pays $775K For Home In Lemont IL….
Check out Bob’s story that ran in Sunday’s Chicago Tribune in which Bob broke the story of cyclist Christian Vande Velde paying $775,000 for a five-bedroom house on 4.75 acres in Lemont, Ill., a southwest suburb of Chicago. Bob also notes that a town home owned by...
Approximately 6 Million Mortgages Currently Delinquent-Mortgage Mediation A Possible Solution?
By: Diana Olick CNBC Real Estate Reporter An article today in USA Today suggests thatmore troubled borrowers are turning to mediation in an attempt to avoid foreclosure. Mediation is when the borrower and the lender sit down with a court-ordered mediator, a third...
REO’s sold during April plunged
By: Diana Olick CNBC Real Estate Reporter Last year, when the rest of the nation's housing was still reeling from recession, California started to show signs of life. Sales increased and prices stabilized, despite the fact that it was one of the hardest hit states...
Bank Of America, Citigroup Incorrectly Hid Billions In Repo Debt
If you follow the banking and housing market, there has always been a 2+2=5 for us...something just didn't add up. How do the largest banks in the US produce enormous gains when all around is collapsing...their coffers of homes are growing in essence becoming the...
Active Army, Navy, Marines, Air Force, Cost Gaurd & Reserves…Soldiers & Sailors Act Protects against Foreclosure
God Bless America! The Soldiers’ and Sailors’ Civil Relief Act of 1940 (SSCRA) was updated and amended in 2003 by President Bush. This Act was created to protect our Fellows in Arms during their "Active Service". Many of our soldiers we're non-active in the National...