All five measures of the Housing Barometer improved over the past year. The indicator that the recovery now most depends on--young-adult employment--made the largest leap, but is still not quite halfway back to normal.
Relative to fundamentals, home prices nationally looked 2% undervalued in the fourth quarter of 2014. Home prices in 70 of the 100 largest metros are less than 10% over- or undervalued.
"Millennial" is almost a buzzword now. Everyone wants to know what this generation is doing -- or take a shot at assuming. As Gen Y begins to age, it's natural to wonder how this generation's mindset will affect aspects of our economy, from the job force and investing to homeownership.
I recently got an email invitation from a Democratic congressional office to come to a "watch party" to view President Obama's State of the Union address. His "fourth-quarter priorities," according to the White House-inspired talking points of the message, are "home ownership, free community college, and high-paying jobs." That sounds pretty good. But if you unpack the specifics, the president is offering pretty weak tea. Obama proposes to have the federal government cover 75 percent of the cost, if states will participate. This could save students an average of over $3,000 a year. By contrast, the original G.I. Bill of Rights of 1944 covered living expenses as well as tuition. The point is that this Obama proposal is not going to be passed by the Republican Congress in any case, so why not think big and act bold? Why not propose something that would make a major difference in the lives of millions of moderate income Americans and dare the Republicans to oppose it?
This misalignment reminds me of an inefficiency that Hollywood studios have found a way to correct. Studios will fund a project and for any number of reasons it might fall apart before it hits the big screen.
If you think the new year is going to be the year to put your rental days in your rear-view mirror and move into a home of your own, it's time to start preparing.
Long Island is world-renowned for its single-family suburban lifestyle, yet it needs a broader mix of housing. A recent public opinion survey shows that a majority of Long Islanders agree, and that's good news.
When history is written, the Lending Club IPO will serve as the tipping point for the disruption of the traditional lending model, and ultimately the unraveling of the banking sector as we know it.
Unfortunately, given the cost of housing in some areas of the country--usually attributable to the artists and/or the art and cultural districts, which have grown up around them--it is probably too late. A crisis is looming.
Communities that know the value of vibrant communities must insure that the artists, who helped foster that vibrancy, not be forced to move as the art and culture districts, often at the center of the community, are forced to move because of the increase in the price of real estate or rental costs. It's that simple but often not thought of until its too late.
GMHC is here to help those who need a home and every day we work hard to connect people living with HIV and AIDS to much-needed housing. While there is still so much more work to do, I wanted to share how GMHC helped make sure that one of our clients had a home for the holidays.
Lara is scared. She is on the front lines of a controversial phenomenon taking place in many heavily populated urban areas across the country -- gentrification. This Christmas, many are worried about just keeping the roof over their heads.
However, the fact remains that an appraisal is essential to the home-buying process, and may ultimately play a large role in determining the specifics of your mortgage. Even after purchasing a home, appraisals can be important tools if you are considering refinancing your home.
Dreaming of a white Christmas? Keep dreaming. For most Americans, chances aren't great for Christmastime snow.
Summer may be real estate's busy season, but winter offers great opportunities for buying a house, especially for renters looking to become homeowners, growing families trading up to larger houses and baby boomers seeking homes to fit their evolving lifestyles.
Creating housing policy that doesn't traumatize small children should be a low bar to meet, but somehow it has been a struggle.