More investors entering the market, competing with consumers for homes
Plus, more homeowners with a mortgage are considered ‘equity rich’ and affordability improves slightly thanks to lower prices.
California home-seller profits soar in the third quarter
Plus, the Great Escape slows, prices for new homes out of reach for many in Sacramento, and four cities that make the Livability.com grade.
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Plus, the flip side of the equity gain for homeowners means home-shoppers are losing ground (see how much income needed by market). Mortgage lenders expect much higher FHA conforming loan limits and closing costs increase (sort of).
Rents soar, mortgage rates remain low and the buy vs. rent decision gets complicated
Plus, the Best Places to Live winners in California, home-flipping profits slide, Stockton gets ‘overvalued’ label, and the state issues $1.75 billion more for affordable housing.
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Plus, an LA mega-mansion seeking $500 million enters receivership with a mountain of debt, some rents rebound from the pandemic, and San Diego home prices surge.
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Plus, Fannie Mae will consider rent payments as part of the application process for first-time buyers, affordability plummets to 14-year low, and half of homeowners in Golden State are equity rich.