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In this Real Estate News Brief for the second week of March.. we have coronavirus repercussions, mortgage relief options, and something that might lift your spirits from Airbnb.   We begin with economic news from this past week and a half.   So much has happened because of the coronavirus. The Fed cut interest rates to zero and launched a $700 billion stimulus program. President Trump acknowledged that the pandemic is “really bad” and issued guidelines to help prevent the spread of the virus. Cities across the nation are shutting down bars, restaurants, and public gatherings. Stores are dealing with panicked buyers. Officials are encouraging people to shelter in place. There’s talk of shutting down our borders and postponing the Presidential election. The stock drop has now erased about 80% of the gains seen since the 2016 election, or what was previously called “The Trump Bump.” Companies will be reporting their first quarter earnings and many are expected to miss their forecasts. The second quarter will lik

What a week. While the Coronavirus and its effect on Wall Street, the economy and of course, our health and safety has dominated our conversations, I’m going to focus on how it could affect the U.S. housing market. As we know, home sales were headed for a hot spring season because of low mortgage rates and a strong economy. And then the coronavirus came along. It has brought mortgage rates even lower, but it’s also causing an economic disruption like we haven’t seen before. Will it be a minor blip on the charts? Or… is this the black swan event that could usher in that recession so many people have been fearing?   www.NewsForInvestors.com  

The mortgage business is blazing a new trail right now. Rates have fallen to a record low. They have almost hit 3%, but they aren’t as low as they could be. Experts say they should have dipped below 3% by now but that busy lenders are holding back on lower rates to help control demand. It’s anyone’s best guess as to what happens next, but it’s quite possible that even lower rates are on the way.    www.NewsForInvestors.com    

In this Real Estate News Brief for the week ending March 7th, 2020... we have an emergency interest rate cut, all-time low mortgage rates, and a virus-inspired surge in real estate investing.   We begin with economic news from this past week, and a quarter percent rate cut by the Fed. The central bank cut rates to help protect the economy from the effects of the coronavirus. The overnight lending rate is now from 1 to 1.25%. Fed Chief Jerome Powell offered reassurance that the U.S. economy is still strong, but he says the spread of the virus will likely affect economic growth. But, he says “we will get to the other side” and “return to solid growth and a solid labor market as well.”   www.NewsForInvestors.com    

States that aren’t tax-friendly to retirees are making some changes to keep their seniors from moving away. Maryland is one of them. The governor says that high taxes are driving seniors to places like Florida which is the most tax-friendly state in the nation for all age groups. But the tax situation is especially important for people trying to stretch their retirement dollars, and there are big differences in the kinds of tax breaks you get from each state.   www.NewsForInvestors.com  

Pet-friendly rentals are becoming a “must-have” for many renters. Zillow says that 46% of renters have pets, and 48% won’t rent a place without that option. For many landlords, it’s much easier to say “no.” But while they are avoiding a few risks, they are also missing out on some big benefits, including additional rental income.   There are several benefits to going “pet-friendly” starting with a larger pool of applicants because almost half the renter population has a pet. To offset the potential risk, many pet-friendly landlords charge an additional amount each month for the pet, along with a pet deposit.   www.NewsForInvestors.com

In this Real Estate News Brief for the week ending February 29th, 2020... we have an early launch to spring sales, concern about the coronavirus, and top cities for population growth.   We begin with economic news from this past week. The spring homebuying season is off to an early start. New home sales rose 7.9% in January. That’s more than 18% higher than January of last year. It’s also the highest level of sales since July of 2007. That’s despite higher home prices.   www.NewsForInvestors.com  

As homeownership gets more expensive, Millennials are getting more resourceful. The National Association of Realtors says the number of first-time buyers who bought homes with housemates doubled in 2019. It wasn’t a huge percentage, but some experts say it could be the future of housing -- at least for people trying to buy their first homes.   www.NewsForInvestors.com  

Nebraska isn’t waiting for the ax to fall on housing affordability. State lawmakers are debating legislation that will allow the upzoning of single-family neighborhoods. It’s called “The Missing Middle Housing Act” to address future housing issues before they become a problem. CityLab described the effort as a way to “win the battle before the war begins.”   www.NewsForInvestors.com  

HUD is hoping to make it easier for landlords to comply with Fair Housing Rules by issuing new guidelines on assistance animals. The U.S. Department of Housing and Urban Development says there’s been a huge increase in the number of requests for emotional support animals, including many that are not legitimate. The agency says the new guidelines offer some clarification of the rules and step-by-step guidance for landlords.   www.NewsForInvestors.com  

In this Real Estate News Brief for the week ending February 22nd, 2020... the spring construction boom, the latest surge in foreclosures, and the new Gen Z homebuyers.   We begin with economic news from this past week. The latest report on existing home sales shows a dip in January. According to the National Association of Realtors, they were down 1.3% to an annual pace of 5.46 million homes. www.NewsForInvestors.com  

A sleepy town in North Carolina has become the victim of its own popularity. Lake Wylie is a lakefront community that has mushroomed in size since the year 2,000. Unfortunately, population growth has outpaced the town’s ability to keep up, and local officials have placed a temporary ban on new development. This is just one example of a city that needs “smart growth” instead of “fast growth.”   www.NewsForInvestors.com  

In this Real Estate News Brief for the week ending February 15th, 2020... the benefits of mortgage shopping, 401k millionaires, and moving for love.   www.NewsForInvestors.com  

The U.S. has a population problem and it’s not because we have too many people. The nation’s birth rate is declining. It’s half of what it was when the baby boomers were born, and is currently at a record low -- so low, that the incoming generation can’t replace the outgoing one. According to some social scientists, that could have a serious impact on our future -- both socially and economically.   www.NewsForInvestors.com  

There’s been a lot of worry about the cost of California’s new solar power requirement for new homes. But the January 1st start date has now come and gone, and it appears the mandate has had little impact on home buyer demand. There has been a small decline in affordability for some people, but according to real estate experts, the mandate appears to be a “non-event.”   www.NewsForInvestors.com    

In this Real Estate News Brief for the week ending February 8th, 2020… new lower mortgage rates, the city with a 5-year rent freeze, and a Netflix series about gentrification in Los Angeles.   www.NewsForInvestors.com    

Concern about the Wuhan coronavirus is pushing mortgage rates lower. That may seem like a weird cause and effect relationship, but there is a good reason for it.   The latest rates for a 30-year mortgage have fallen to their second-lowest level in three years. Freddie Mac reported last week that the average 30-year fixed-rate mortgage was 3.51% and the 15-year fixed-rate mortgage was down to 3%. That’s for the week ending January 20th. If you compare it to the average for that same mortgage in January of last year, it’s almost 1% lower. And some economists expect rates to fall further as the coronavirus spreads.   www.NewsForInvestors.com  

In this Real Estate News Brief for the week ending February 1st, 2020... the latest decision on interest rates, the cost of renting vs. buying, and the theft of $10.5 million from RealPage by hackers.   www.NewsForInvestors.com    

Calls for a wealth tax are getting louder because of a growing gap between the ultra-rich and the not-so-rich. Oxfam International released a report ahead of the World Economic Forum that says the world’s 2,153 billionaires have more wealth combined than 60% of the global population. That’s about 4.6 billion people. The global anti-poverty organization also says the wealth gap has a much greater impact on women than it does men.   www.NewsForInvestors.com    

Chicago landlords have a new tenant screening law to abide by called the Just Housing Amendment. It is now part of the Cook County “Human Rights Ordinance” to help people with a criminal record get housing. Landlords need to know about the required screening process to avoid big fines. There’s also a similar ordinance that was just approved in Oakland, California.   www.NewsForInvestors.com