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Rare Bear Who Called Crash Warns Housing Too Hot Again…

“He described the pattern as a steep run-up in housing prices spurred by low interest rates” writes Prashant Gopal for bloomberg.com. Stack, 66, who manages $1.3 billion for people with a high net worth, predicted the housing crash in 2005, just before prices reached their peak.Bill McBride, who runs the Calculated Risk blog and also called the crash, doesn’t think home prices are inflated this time around. Source: bloomberg.com Share This:

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The 10 most expensive cities to live in around the world in 2018

“Scroll down to see the 10 most expensive cities to live in around the world in 2018” writes Alison Millington for businessinsider.com. The world’s most expensive cities to live in have been revealed in a major survey of almost 300 population hubs.The survey also looked at all cities, non-major markets included — which is the data we’ve compiled below. Source: businessinsider.com Share This:

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Get ready: home remodeling is set to surge at the fastest pace in more than a decade

“Home remodeling is projected to grow at the fastest pace in more than a decade this year, according to a report out Thursday” writes Andrea Riquier for marketwatch.com. Those indicators measure the housing market trends that are nudging more and more homeowners to renovate.The leading indicator of remodeling activity, produced by the Joint Center on Housing Studies at Harvard University, suggests homeowner spending on improvements and repairs will be close to $340 billion in 2018, 7.5% higher than spending in 2017.The index, also known as the LIRA, gauges the level…

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Put a stop to permitted development rights which skirt the planning system, says Local Government Association

“At present, permitted development rules allow developers to bypass local influence and convert offices to flats, and to do so without providing affordable housing and local services and infrastructure such as roads and schools” writes David Buchler for telegraph.co.uk. Cllr Martin Tett, the LGA’s housing spokesman, said: “It is vital that councils and local communities have a voice in the planning process.This loophole of permitted development rights (PDR), which is legal, means that these new homes do not come with responsibilities to pay for affordable housing or invest in infrastructure such as…

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$11 million from South Lake Union property sale proposed for Seattle homeless crisis

“Mayor Jenny Durkan wants to use $11 million in proceeds from the expected sale of a city-owned property to pay for rental assistance and short-term housing options for the homeless” writes Seattle Times Staff for seattletimes.com. Since becoming mayor, Durkan has awarded a record $100 million for affordable-housing units funded by a new, expanded city housing levy and other sources. Source: seattletimes.com Share This:

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Homelessness, housing top agenda as lawmakers reconvene

“Policies to alleviate Hawaii’s persistent homelessness problem and chronic housing shortage are expected to top the agenda when state lawmakers open a new legislative session this week” reports foxbusiness.com. Andria Tupola said the conversation on affordable housing needs to involve the state and counties as well as all islands.Nakata said concerns about cost and a “not-in-my-backyard” mentality often thwart affordable housing efforts.David Ige said his administration is requesting $100 million in spending for capital improvement projects to support the construction of affordable and rental housing.Tiny home and domes may be…

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Tenants will be able to take legal action against landlords whose properties are ‘unfit for human habitation’

“Tenants will be able to take legal action against landlords whose properties are “unfit for human habitation”, under a move revealed by the Housing Secretary today” writes Edward Malnick for telegraph.co.uk. Where landlords fail to meet their obligations, tenants will be able to take legal action for breach of contract, the Ministry of Housing said. Source: telegraph.co.uk Share This:

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America’s student debt crisis is worse than we thought

“A new Brookings Institution report offers startling results that suggest “the looming student default crisis is worse than we thought.”” writes Pedro Nicolaci Da for businessinsider.com. Debt and default among black college students “is at crisis levels, and even a bachelor’s degree is no guarantee of security,” the report says.The first spot they tend to look is at student loans which, while only a fraction of the housing market, can still have a significant economic impact on consumers and businesses.At nearly $1.4 trillion in loans outstanding, student debt is now…

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Higher rents and home prices drive increase in consumer prices in December, CPI finds

“Food prices rose 0.2%, but that increase was more than offset by a 1.2% drop in energy prices” writes Jeffry Bartash for marketwatch.com. The numbers: The consumer price index rose 0.1% in December, with four-fifths of the increase tied to the highest cost of housing.What happened: The increase in the cost of living last month was tied largely to increasing rents and home prices.Adjusted for inflation, hourly wages rose 0.2% to mark the first increase since July.The 12-month rate of inflation as measured by the CPI slipped to 2.1% from…

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US gives $2B to help homeless amid plans to cut housing aid

“President Donald Trump’s administration announced $2 billion in grants Thursday for local agencies trying to help the homeless even as the government proposes deep cuts to federal housing programs” reports foxbusiness.com. That includes a focus on Housing First, which moves people quickly from homelessness into permanent housing, rather than using transitional housing as an intermediate step.”Any cuts to housing assistance are going to impact on homelessness,” said Nan Roman, president and CEO of the National Alliance to End Homelessness. Source: foxbusiness.com Share This:

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