Markets News 

Will millennials give housing shares a boost?

“Millennials are no longer snubbing homeownership, and some market observers argue that could offer a tailwind for housing-related shares and the broader stock market” writes Deputy Markets Editor for marketwatch.com. Add in the potential elimination of the mortgage deduction and the deduction for state and local taxes, it’s difficult to get too excited about a millennial resurgence driving the housing market, she said.Moreover, the survey of persons born between 1980 and 1998 found that among non-homeowners, 83% cited student loan debt as the factor delaying them from buying a home.Data…

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Mortgage rates spike to four-month high as tax reform drives bond sell-off

“The 30-year fixed-rate mortgage averaged 3.95%, up five basis points” writes Andrea Riquier for marketwatch.com. The 15-year fixed-rate mortgage averaged 3.31%, up from 3.24%.Mortgage rates tracked alongside the 10-year Treasury note TMUBMUSD10Y, +2.25%  , which jumped during the week before sliding suddenly as investors turned cautious on Wednesday.That may help nudge mortgage rates lower in the coming week.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.21%, down one basis point. Source: marketwatch.com Share This:

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Public housing plays a huge role in racial segregation and inequality — but not in the way most people think

“Racial segregation was built into public housing policy” writes Pedro Nicolaci Da for businessinsider.com. The term “public housing” is generally associated with poor, disaffected US minorities — but it turns out its origins were very much white and middle-class.President Harry Truman proposed a massive expansion of the public housing program in 1949 in order to house returning veterans, Rothstein said.That helped white families that benefited from those mortgages to build housing wealth.Here’s what the data look like, according to the Urban Institute: Rothstein argued that the roots of inequality in housing…

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Raze, rebuild, repeat: why Japan knocks down its houses after 30 years

“Scaffolding surrounds a vacant house on a corner and workers from Daiwa House are clanging away inside” writes Nate Berg for theguardian.com. In the end, most of these prefabricated houses – and indeed most houses in Japan – have a lifespan of only about 30 years.Moving is also out of the budget, so his only option is to tear the old house down and build anew. Source: theguardian.com Share This:

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‘When do churches stop caring about people more than SUVs?’ Seattle church to replace homeless housing with parking spots

“In a city where space and affordable housing stock are shrinking, a Seattle church decides to demolish houses where 10 formerly homeless people have lived for years” writes Seattle Times Staff for seattletimes.com. Slovek-Walker is the CEO of Transitional Resources, a mental-health center that helps formerly homeless people get into supportive housing. Source: seattletimes.com Share This:

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Housing crisis can be good news, if you’re a landlord

“He used to be a developer and said the housing market has been both cruel and generous to him over the years” writes Steve Lopez for latimes.com. He said they’re good for his business because they increase the housing demand, but that drives rents higher for everyone.Marcil, whose renters are paying between $1,400 and about $2,800, depending on apartment size and location, said he’s doing almost as well now as he was doing before the housing crash. Source: latimes.com Share This:

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Buyers are gaining more leverage in the hot D.C.-area housing market

“Marshall Park is a real estate broker at Redfin in Virginia who writes an occasional column on the local real estate market” reports washingtonpost.com. Shifts in the real estate market don’t happen overnight, but buyers may be regaining a bit more of the bargaining power.For the past few years, sellers have had all the power in the local real estate market.It’s hard to make broad declarations about the real estate market.In terms of supply and demand, it’s still very much a seller’s market. Source: washingtonpost.com Share This:

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Welcome to Kingsbrook, Britain’s most wildlife-friendly housing development 

“The whole development is connected by green wildlife corridors of hedges, strips of wildflower grassland or gaps in fences and walls” writes Science Editor for telegraph.co.uk. But residents of a new development near Aylesbury, Buckinghamshire, are being encouraged to share their homes with wildlife in a pioneering scheme which could change the future of housing in Britain.Gone are the dispiriting rows identikit housing and instead half the site has been given over to ponds, parks, meadows, orchards and even a nature reserve with a shallow bay to encourage invertebrates. Source: telegraph.co.uk…

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Redfin shares slide as housing headwinds make profit story more daunting

“Shares of discount real estate brokerage Redfin RDFN, +6.91% tumbled nearly 9% Friday as the company reported solid growth, but reaffirmed strong headwinds in the housing market” writes Andrea Riquier for marketwatch.com. The company reported its market share had increased by 14 basis points to 0.71%, an acceleration in share growth, while web site traffic was up 38%.The company’s GAAP net loss per diluted share was 50 cents, compared with a net income per diluted share of 3 cents a share in the third quarter of 2016. Source: marketwatch.com Share This:

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