Strong improvement in home prices, break even after 3 years of home ownership and much more. Here are the real estate headlines you may have missed this week:
For renters, buying a home pays off after three years on average (via Los Angeles Times)
A new analysis by real estate website Zillow shows that, on average, a renter thinking about buying a home will reach what it calls the “break-even horizon,” after just three years. The break-even horizon compares what it would cost to buy or rent the same home in a number of U.S. markets over time. Read Full Story
Case-Shiller: Home prices improve strongly in May (via Los Angeles Times)
Average home prices in the nation’s 20 biggest cities rose 2.2 percent in May from the prior month, according to the Standard & Poor’s/Case-Shiller Index, a closely watched index. Read Full Story
How forgiveness fits in housing-fix toolkit (via The Wall Street Journal)
Policy makers are wrestling with a dilemma about the overhang of mortgage debt from the housing decline: To forgive or not to forgive? Read Full Story
High housing payments the new “American nightmare” (via Orange County Register)
Some 2.7 million California households – homeowners and renters – pay at least half their income for housing. The numbers have nearly doubled in the past decade, according to the Census Bureau. Read Full Story
Shrinking supply of homes for sale has upended market dynamics (via Los Angeles Times)
One of the sobering fundamentals shaping real estate this summer is shrinking inventory: The supply of houses for sale has fallen significantly in most areas compared with a year earlier, sometimes dramatically so. Read Full Story
Refinancing more than once (via The New York Times)
Many homeowners have been taking advantage of a steady drop in interest rates to refinance their mortgages. Some are doing so once, twice, or more. Read Full Story
Fannie and Freddie won’t lower mortgage principal, regulator says (via Los Angeles Times)
After a lengthy review, the Federal Housing Finance Agency, the agency that oversees Fannie Mae and Freddie Mac, decided it will not allow Fannie Mae and Freddie Mac to lower the amount some underwater homeowners owe on their mortgages despite new financial incentives from the Obama administration. Read Full Story
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About Daniel Di Matteo
THE REAL ESTATE BUSINESS HAS LESS TO DO ABOUT SELLING PROPERTIES AND EVERYTHING TO DO ABOUT HELPING PEOPLE.
