Week 3: Small businesses reel from shutdown
“As the government shutdown moves into its third week, small businesses across the country are trying to figure out how — or if — they’ll be able make up the lost business.”
For sale by owner: Homeowners ditching brokers
“Bolstered by the housing recovery, a growing number of homeowners are going it alone when selling their homes hoping to save thousands of dollars in commissions.”
Homebuyers: To get the house, get there first
“Housing inventory is stiflingly tight in many locations, making it a challenge to find, much less land, your dream home.”
Shiller, two others win economics Nobel for ‘bubble’ warnings
“Robert Shiller, who became famous for calling the housing and Internet stock bubbles, was one of three Americans to win the Nobel in economics Monday.”
Saying goodbye to the California middle class. California least affordable state in the entire country as renting class expands.
“California for a generation has been a high cost of living state. This is no surprising revelation. Yet the tech boom in the 1990s set the state into a unique stratosphere of real estate. Hundreds of thousands of jobs now depend on big tech companies including Facebook, Google, Apple, and other common names. Changes like this have added to drive up in real estate values. New data highlights that California’s metro areas are the least affordable for those looking to buy based on the families living in those areas. Of course, investors are bringing outside money so that is one way to move around this new reality. Unlike an Ohio or Nebraska, California real estate is global in nature. The only problem today is the massive gap is pushing many middle class families out of reach from buying a piece of real estate. It is becoming more challenging for families to purchase real estate in California and the data backs this up.”
14 American Housing Markets Drowning In Foreclosures
“One in every 998 U.S. homes received a foreclosure filing in the third quarter, according to the latest foreclosure data from RealtyTrac.”
US Default Seen Pushing Housing to the Brink
“Housing largely dodged a bullet on the government shut down that went into effect October 1, the pending default, however, is an entirely different matter. As the October 17 default deadline nears, knuckle in the housing industry are turning white.”
The 2 Families of Mortgage REITs
“Mortgage REITs are a very interesting sector, and although they only represent a small percentage of REITs, they’ve developed a very loyal following. Their increased use of leverage leads to very high yields that appeal to income seekers with a sizable appetite for risk. However, before jumping in to the sector, investors should realize that not all mortgage REITs are created equal. There are a wide variety of mortgage REITs, and the two major categories are separated by the types of mortgages the REITs invest in.”
J.P. Morgan Hiring for Compliance “SWAT Team”
“Facing a slew of costly regulatory issues, J.P. Morgan Chase & Co. is bringing in a SWAT team.”
Mortgage applications gain; buyers look past US shutdown
“Applications for U.S. home loans rose in the latest week as demand for refinancing outpaced purchases, data from an industry group showed on Wednesday.”