Real Estate

Housing Market 2020: February Update

Low mortgage rates and even lower inventory are fueling a competitive start to 2020. Daryl Fairweather offers advice for buyers in this seller’s market. Hi guys, Katy from Redfin here and I’m standing here with our chief economist Daryl Fairweather. Thanks for being here, thank you for having me. We are gonna talk about the […]

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CAR on California January Housing: Sales up 10.3% YoY, Inventory down 26.9%

The CAR reported: California home sales maintain last year’s momentum in January, C.A.R. reports Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 395,550 units in January, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales […]

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FOMC Minutes: Policy on Hold

From the Fed: Minutes of the Federal Open Market Committee, January 28-29, 2020. A few excerpts: Participants generally saw the distribution of risks to the outlook for economic activity as somewhat more favorable than at the previous meeting, al­though a number of downside risks remained prominent. The easing of trade tensions resulting from the recent […]

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AIA: “Architecture billings continue growth into 2020”

Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture billings continue growth into 2020 Starting the year on a strong note, architecture firm billings strengthened slightly in January, according to a new report today from The American Institute of Architects (AIA). AIA’s Architecture Billings Index […]

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Lawler: Early Read on Existing Home Sales in January

From housing economist Tom Lawler: Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.42 million in January, down 2.2% from December’s preliminary pace (which looks too high) and up […]

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Comments on January Housing Starts

Earlier: Housing Starts decreased to 1.567 Million Annual Rate in January Total housing starts in January were well above expectations and revisions to prior months were positive. The housing starts report showed starts were down 3.6% in January compared to December, and starts were up 21.4% year-over-year compared to January 2019. These were blow out […]

Real Estate

The Many Benefits of Aging in a Community

There’s comfort in being around people who share common interests, goals, and challenges. That comfort in a community doesn’t wane with age – it actually deepens. Whether it’s proudly talking about grandchildren or lamenting the fact that our eyes aren’t as good as they used to be, it helps to be around people who not […]

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Fascism: a technique for gaining power

Sean Danaher had a powerful piece on fascism on Progressive Pulse a few days ago. He published it under the title: Fascism as a methodology rather than an ideology As Sean noted, fascism has had an influence on his life: My father attempted to do a PhD in Germany from 1937-39, but it became increasingly […]

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The government’s migration policy shows Theresa May’s once predicted Nasty Party is now in power

The continual creep of the UK towards dog-whistle populism and all that follows from it continues with the government’s announcement of new controls on migration. As the Guardian notes: Britain is to close its borders to unskilled workers and those who can’t speak English as part of a fundamental overhaul of immigration laws that will […]

Real Estate

The Typical Homeowner in a “Redlined” Neighborhood Has Missed Out on $180,000 Worth of Home Equity

The discriminatory housing policy has also contributed to lower homeownership rates for Black families. The typical homeowner in a neighborhood deemed “hazardous” for mortgage lending by the federal government during the redlining era has gained 44% less—or $180,000 less—in home equity than one in a “best” neighborhood over the last 40 years. In a “hazardous” […]

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Wednesday: Housing Starts, PPI, FOMC Minutes

Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 8:30 AM, Housing Starts for January. The consensus is for 1.415 million SAAR, down from 1.608 million SAAR. • Also at 8:30 AM, The Producer Price Index for December from the BLS. The […]

Real Estate

Housing Market Update: February 2020

Low mortgage rates and even lower inventory are fueling a competitive start to 2020. Daryl Fairweather offers advice for buyers in this seller’s market. Hi guys, Katy from Redfin here and I’m standing here with our chief economist Daryl Fairweather. Thanks for being here, thank you for having me. We are gonna talk about the […]