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The housing market isn’t slowing down anytime soon
Household advancement retail huge Lowe’s (Reduced) issued a disappointing product sales outlook Wednesday early morning. In the meantime, dwelling builder Lennar (LEN) claimed final results Wednesday afternoon that skipped forecasts. The business cited supply chain concerns and better lumber fees. Lennar shares fell 4{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} Thursday. But prior to you commence shouting from the rooftops of the arguably overpriced property you are living in that the housing bubble is bursting, take into account this: The federal government noted Thursday early morning that housing begins and making permits in November each rose more than predicted from Oct concentrations. In other terms, buyers even now want to invest in new houses and live…
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The top housing markets in 2022 projected by Realtor.com
Barron’s associate editor Andrew Bary shares his insights on affordability in today’s housing market on ‘Barron’s Roundtable.’ Realtor.com has released its projections for where the hottest housing markets in the U.S. will be in 2022, listing the ten areas it sees as positioned for the most growth next year. The real estate site reported that the areas topping its list have strong local economies with vibrant culture and opportunities for recreation – and the combination of those factors are attracting new residents looking for remote work. 1. Salt Lake City, Utah Winter daytime shot of Salt Lake City (iStock) (iStock / iStock) Median home price: $564,062 Project home price increase:…
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DoD’s average housing subsidy sees big increase as real estate continues to get pricier
The average amount of housing subsidies the Defense Department will give out to service members in 2022 is increasing substantially compared to previous years. The Pentagon says the mean increase of basic allowance for housing (BAH) will go up by 5.1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}, a wide jump from the past two years, which have averaged just below 3{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}. DoD will spend $25.6 billion on BAH for 2022. Depending on grade and dependency status, service members will see BAH go up by a range of $74 to $168. Allowances will not decrease. “The department is committed to the preservation of a compensation and benefit structure that provides members with an adequate standard of living…
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Moms 4 Housing property owner hit with $3.5 million settlement
The state has reached a $3.5 million settlement with corporate real estate investor Wedgewood, known for its stand-off with Oakland activists Moms 4 Housing. The agreement requires the southern California company to revamp its business practices, adhere to stringent state and local renter protections and submit regular compliance reports to the department of justice, Attorney General Rob Bonta announced Wednesday. About $2.75 million of the settlement will be paid to tenants unlawfully evicted by Wedgewood across the state. “As we battle this housing crisis of epic proportion, our housing laws, especially our tenant protections, have never been more vital,” Bonta said. “Unfortunately, even amid this crisis, there are some who pursue…
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As housing costs soar, homebuilders develop houses for rent
Home builders and other real estate companies are increasingly betting that would-be home buyers frustrated with a shortage of homes for sale and runaway prices will settle for renting their slice of the American dream. Although individual homeowners and mom-and-pop investors still account for the vast majority of single-family rental homes, home builders have stepped up construction this year of new houses for rent. In the third quarter, builders broke ground on 16,000 single-family homes slated to become rentals. That’s the highest quarterly total of housing starts for built-to-rent homes going back to at least 1990, according to an analysis of U.S. census data by the National Assn. of Home…
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New normal? Seattle housing market shows signs of seasonal cooldown although inventory remains tight
Seattle’s booming housing market continued to show minuscule signs of a seasonal slowdown last month, providing little, if any, relief to buyers according to Zillow’s latest market report which examined nationwide housing trends in October. The seasonal reprieve in the hot housing market began in September as prices began to stabilize from last year’s record gains. For the Seattle metro, the new report found the typical home value was $695,058 in October, up 21.8{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} — or $124,712 — compared to the same time last year. The report also showed that home value appreciation has slowed since September and continued to slightly ease last month. However, for-sale inventory remains historically low,…
