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socialismforall · 4 months

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US Homelessness Reaches Record Levels in 2023

Homelessness in the USA jumped 12% this year to an all-time high, according to a recent US government report. Most groups of color were disproportionately negatively impacted by the trend, families with children saw a 16% increase in homelessness, and certain states saw higher proportions of homelessness than others. The changes come amid a punishing housing market featuring surging rents and stubbornly overpriced for-sale houses.

While rents have begun to decline from recent peaks, and newly built houses have seen a drop in value of almost 20% in some markets, existing houses for resale have barely begun to budge, and wages haven’t kept pace with the increases. The median house price is now so high as effectively to lock out most buyers from the market, and higher interest rates are making mortgages more expensive than at any time in the last fifteen years.

Call it “Bidenomics”? The Democrats, for some reason, already are. (“Nothing will fundamentally change,” indeed.)

source: https://www.axios.com/2023/12/15/homelessness-increase-rent-crisis-2023 source: https://endhomelessness.org/homelessness-in-america/homelessness-statistics/state-of-homelessness/ source: https://vividmaps.com/homelessness-in-us/

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applerealty · 10 days

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#rent #rentals #rentalmarket #multifamily #singlefamily #stockmarket #investing #wallstreet #mortgage #housing #renews #realestate #economy #housingmarket

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kmrealtygroup · 2 months

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The Current State of the Housing Market

If you've been feeling uncertain about the current state of the housing market and are concerned about a potential housing crash, it's important to understand the data and factors that indicate a different scenario. Let's dive into the facts and dispel any fears or misconceptions.

Stricter Lending Standards Ensure Stability

Before the 2008 housing crisis, it was easier to get a home loan with more lenient lending standards. However, today's lending landscape has changed. Mortgage companies have implemented stricter lending criteria, making it harder to qualify for loans.

This shift in standards has reduced the risk of mass defaults and foreclosures, ensuring greater stability in the housing market.

Limited Inventory Supports Price Stability

During the housing crash, there was an oversupply of homes on the market, causing prices to tumble. However, the current housing market has a shortage of available homes for sale. The limited inventory is preventing a repeat of the past crash.

According to data from the National Association of Realtors (NAR) and the Federal Reserve, there is a significantly lower supply of homes today compared to the peak levels seen during the previous crisis. This scarcity of inventory has supported price stability in the market.

Homeowners' Cautious Approach

Another factor contributing to the market's strength is homeowners' cautious behavior. Unlike in the early 2000s, homeowners today are not tapping into their home equity for non-essential expenses.

Black Knight reports that homeowners have more equity available than ever before, but they are not extensively using it. This responsible approach reduces the risk of foreclosure and distressed properties flooding the market.

Conclusion

In conclusion, the current data and analysis provide reassurance that we are not headed for a housing crash. Stricter lending standards, limited inventory, and homeowners' cautious approach all contribute to a stable housing market.

To gain more insights and expert guidance on navigating the real estate landscape, reach out to KM Realty Group LLC, Chicago's top-rated real estate experts.

Learn more about the current state of the housing market and dispel any remaining fear and uncertainty.

#realestate #chicagohomes #housingmarket

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tonyastahlrealtor · 4 months

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💥New Listing💥 Enjoy peaceful rural living with room to roam! 3 bd, 2 ba, 1216 sqft, 2.59 acres. Check out 15 Smokey Ave in Rozet, WY👉 https://ow.ly/TSPn50QjOfq

Call Tonya Stahl at Team Properties Group for more info 📲307.299.1396

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teampropertiesgroup · 4 months

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Three of our Commercial Lot listings went 𝓤𝓷𝓭𝓮𝓻 𝓒𝓸𝓷𝓽𝓻𝓪𝓬𝓽! 🥳 Congratulations to Summer Robertson & her Sellers!

Have property to sell? We'd love to help 👉https://ow.ly/EnL850QhZiY

Call our agents at Team Properties Group for more info 📲307.685.8177

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naplesgolfguy · 10 months

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Why are there so few listings? Why is inventory half of what it was in 2019? One reason is 82% of homeowners with a mortgage have an interest rate below 5%. As a result, property owners feel "locked in" to their current home, which is unlikely to change until rates drop.

Whether you are trying to decide if now is a good time to sell or buy a property in SWFL, contact us today for all your real estate needs.

Matt Klinowski | Naples Golf Guy | Downing Frye Realty Here's to living the good life in paradise, Matt

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aicreateworlds · 1 year

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Old Japan, Eastern District Housing Projects Funded by the District 8 Leaders to assist with the housing shortage, a new concept apartment building is being funded. Steeped in tradition, these apartments pay homage to Old World Japan, while integrating a new more modern feel. Although smaller living spaces like that of Old Tokyo, layout and design is done with convenience in mind allowing for open areas to still be enjoyed. These apartments are self sufficient and will not require assistance from the electric grid. They are expected to sell out quickly, so get your name in early. We break ground in the Spring! #housing #project #housingmarket #cyberpunk #district8 #roleplay #aicreateworlds #ai #aiart #aiartcommunity #art #design #linkinbio #redbubble #dnd #story #storyboarding #game #midjourney #followalong #dungeonsanddragons #story #dmToAddNPC #green #tokyo #kyoto https://www.instagram.com/p/Cmy1Orxu4iZ/?igshid=NGJjMDIxMWI=

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vartikayadav05 · 1 year

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This is not a replay of the Great American Housing Bubble

Are We in a Housing Bubble? This is not a replay of the Great American Housing Bubble

#housingmarket #realestateexpert #housingbubble #realestateagent #buyhome #realtor #72sold #72soldagent #72soldcommercial #sellyourhousein72hours #toprealtors #Youtube

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drronrepice · 1 year

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William Raveis Real Estate 💫 🌟 🏠🏠 Thank you for placing your Trust in me! We Will Find Your Island Paradise 🌈 We Will Find You Your Dream Home🏠 We Will Sell Your Existing Home🏡 ....If we gotta take ya by 🌊 ~Boat ⛵ 🌊 ~Plane ✈ 🌊 ~Car 🚗 Doc Ron Repice "Your Real Estate Doctor" William Raveis Real Estate (239) 331-5886 🏠🏡🏠 We are here for you! Lovin SW Florida #Waterfront #HomeSweetHome RealEstate #ResidentialSales #RealEstateLife #Realtor #SouthWestFlorida #Paradise #RonRepice #NaplesFL #LuxuryRealEstate #MillionDollarListingl #Shopping #NAPLESflorida #RealEstate #LuxuryHomes #Beach #Blessed #WhyAreYouNotHere #HousingMarket #DreamHome #Sunshine #Relaxation #Sunset (at Naples, Florida) https://www.instagram.com/p/Cpf_bckv7Ov/?igshid=NGJjMDIxMWI=

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nsrealestate · 4 days

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If you’ve got a move on your mind, you may be wondering whether you should wait to sell until mortgage rates come down before you spring into action. Here’s some information that could help answer that question for you. In the housing market, there’s a longstanding relationship between mortgage rates and buyer demand. Typically, the higher rates are, you’ll see lower buyer demand. That’s because some people who want to move will be hesitant to take on a higher mortgage rate for their next home. So, they decide to wait it out and put their plans on hold. But when rates start to come down, things change. It goes from limited or weak demand to good or strong demand. That’s because a big portion of the buyers who sat on the sidelines when rates were higher are going to jump back in and make their moves happen. As Lisa Sturtevant, Chief Economist for Bright MLS, explains: “The higher rates we’re seeing now [are likely] going to lead more prospective buyers to sit out the market and wait for rates to come down.” Why You Might Not Want To Wait If you’re asking yourself: what does this mean for my move? Here’s the golden nugget. According to experts, mortgage rates are still projected to come down this year, just a bit later than they originally thought.

But if you’re ready and able to sell now, it may be worth it to get ahead of that. You have the chance to move before the competition increases. If you’re thinking about whether you should wait for rates to come down before you move, don’t forget to factor in buyer demand. Once rates decline, competition will go up even more. If you want to get ahead of that and sell now, DM me.

#exprealty #losangeles #neilsingerman #housingmarket #sellyourhouse #keepingcurrentmatters

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pennsyltuckyheathen · 4 months

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Wall Street investment funds have distorted the housing market making home ownership unaffordable to many Americans and driving the sustained increases in rents.

#CorporateGreed #RealEstate #HousingMarket #SingleFamilyHomes #MultiUnitHousing

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applerealty · 7 days

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#renews #realestate #housingmarket #mortgage #housing #economy #buyingahouse #mortgagerates #mortgageratesupdate #housingmarketinsights #finance

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tonyastahlrealtor · 4 months

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If you're considering 𝐵𝓊𝓎𝒾𝓃𝑔 or 𝐒𝐄𝐋𝐋𝐈𝐍𝐆 your home, I would love to help with your next move!

Call Tonya Stahl at Team Properties Group for all your Gillette Real Estate needs📲307.299.1396

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teampropertiesgroup · 9 months

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🤔🏡💲Thinking about selling your home but needing to do some sprucing up first? Here are some helpful, budget-friendly tips!

#homesellers #homeselling #sellingyourhome #homestaging #housingmarket #realestatemarket #teamproperties #tpg #wyoming #wyomingrealestate #gillettewy #gilletterealestate #sellersagent #listingagent

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naplesgolfguy · 2 years

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After the storm, many homeowners will be doing renovations. As you begin the process, take into account the power of light to illuminate rooms and make it a priority. LED innovation has evolved offering an affordable and energy efficient option for lighting. And, lighting in multiple layers enables the greatest functionality, aesthetics and mood making. Learn more...

If you are considering buying or selling a home in Southwest Florida, let's connect to discuss the market and your options. We have 20 years of experience in the area and can help advise you on today's market conditions. Call or text us today - 239.370.08592.

Matt Klinowski aka Naples Golf Guy | Downing Frye Here's to living the good life in paradise, Matt

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aicreateworlds · 1 year

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South Sands Housing Project Design Funded by the District 8 Leaders to assist with the housing shortage, a new concept apartment building is being funded. These apartments are self sufficient and will not require assistance from the electric grid. Each building will have its own solar grid attached and generate enough energy to fill batteries for a week long sand storm, providing ample safe time for the residents. Due to the extended warm weather, we expect to break ground on these housing complexes in the winter months next year. #housing #project #housingmarket #cyberpunk #district8 #roleplay #aicreateworlds #ai #aiart #aiartcommunity #art #design #linkinbio #redbubble #dnd #story #storyboarding #game #midjourney #followalong #dungeonsanddragons #story #dmToAddNPC https://www.instagram.com/p/Cmtt2rKux6J/?igshid=NGJjMDIxMWI=

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