Real Estate for Everyone with Kristina Smallhorn

Significantly impacting the U.S. housing market despite facing economic challenges like the 2007-2008 financial crisis and a booming market has made homes less affordable. Those entering into homeownership are driving up demand and prices, a trend expected to continue due to delayed life milestones such as marriage and childbearing. This unique position is causing a shift in market dynamics, with...

In January 2024, the housing market saw the construction of new homes in the US drop significantly, marking the biggest decrease since the pandemic began. This suggests that the housing market's recovery will be slow, as potential buyers are waiting for mortgage rates to fall further. There was a notable decline in both multifamily and single-family home constructions. Despite this downturn, t...

Professional sports teams are evolving into real estate giants, with billionaire owners leveraging the construction of new stadiums and arenas—often funded significantly by taxpayer dollars—as opportunities to develop surrounding areas into mixed-use districts featuring luxury apartments, shopping malls, and entertainment venues. This shift from traditional revenue streams like ticket sales to rea...

Recent headlines about increasing foreclosures in the housing market may cause concern, but it's essential to put these reports into perspective. The current rise in foreclosures is compared to historic lows during 2020 and 2021 when moratoriums and forbearance programs helped homeowners. This comparison exaggerates the current situation. Historical data, including figures from ATTOM, a proper...

Last week, despite a slight increase in mortgage rates, there was a notable resurgence in homebuyer activity post-holidays. The Mortgage Bankers Association reported an 8% rise in home purchase applications compared to the previous week, although demand was still 18% lower than the same period last year. The average rate for 30-year fixed-rate mortgages with conforming loan balances rose marginall...

ately, the housing market is jus sick. House prices are shooting up really high, and finding a house that is affordable is getting even harder. The supply of homes is so weak for everyone who wants to buy one, and this is causing a lot of problems. People are fighting over houses and paying way more than they think they should. This isn't just about houses and money; it's a big problem for...

n December, a significant drop in mortgage interest rates potentially sucked home buyers into an early start to this year's spring housing market. Rates fell about a full percentage point from their October peak, sparking consumer optimism for further decreases. Fannie Mae's consumer survey revealed a notable shift in homeowner expectations, with more believing rates will drop, a first sin...

The housing market supply crisis gripping many parts of the US. Experts warn that it will take years to rectify the imbalance between the soaring demand for homes and the sluggish pace of home construction. This chronic housing shortage has been fueled by a complex web of factors, including regulatory hurdles, rising costs of materials, labor shortages, and land scarcity. As populations continue t...

2024's housing market predictions from various sources including Redfin, realtor.com, Fox Business, and Bloomberg suggest a mixed outlook. Redfin and realtor.com anticipate a steady rise in home prices and a competitive seller's market, driven by low inventory and continued demand. Bloomberg warns of potential economic factors impacting affordability, while Fox Business highlights potentia...

Mortgage rates recently reached the 6% range for the first time since August, with experts predicting further decreases due to declining inflation. The average 30-year mortgage rate dropped to 6.95%, down from 7.03% the previous week, attributed to seven consecutive weeks of rate declines. Housing economists anticipate more rate cuts in 2024, potentially bringing rates to around 6.3%. The Federal...

Peter Schiff's views on the U.S. real estate market and its ties to government policies of the 30-year mortgage. Schiff is known for his predictions about significant financial events. Schiff views the real estate market as a bubble, overly inflated due to FED policies that suppress financing costs. He notes a pattern among American property buyers who focus more on their ability to make month...

The real estate industry is currently facing a significant challenge due to a shortage of housing inventory. Danielle Hale, the chief economist at Realtor.com, discussed this issue highlighting the slow pace of new home construction. Despite a modest expected increase in single-family construction next year (about 0.4%), the overall progress is slow, and Hale describes the situation as a "mul...

High mortgage rates are currently impacting U.S. homebuilders, leading to more price cuts to attract buyers. However, there's a cautious optimism about potential future drops in interest rates. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for November showed a decline of six points to 34, indicating a negative outlook (scores below 50 are negative). This dec...

The housing market is poised for a significant change as a "silver tsunami" of baby boomers approaching retirement is expected to downsize their homes in 2024, according to financial analyst Meredith Whitney, known for accurately predicting the 2008 financial crisis. More than 30 million housing units are anticipated to enter the market as over 51% of individuals aged 50 and above, who o...

The latest developments in the U.S. mortgage market, where we'll delve into the significant one-week drop in mortgage rates, the largest since last November. We will cover the implications of the Federal Reserve's recent decision to hold interest rates steady, and how this impacts both the housing market and prospective homebuyers. We'll also explore current market challenges, includin...

In a historic ruling, the federal courts have delivered a staggering $1.78 billion verdict against prevailing commission practices in the housing market. This groundbreaking decision is set to reverberate across the real estate industry, potentially reshaping how agents are compensated and challenging the status quo of home buying and selling. The verdict comes after mounting criticisms and concer...

Goldman Sachs' recent outlook predicts no respite for potential buyers but believes the steepest drops in housing activity and prices are now behind. In 2024, high mortgage rates are expected to influence housing turnover significantly, leading to fewer homeowners moving and thereby reducing supply. While Goldman Sachs projects a minor decrease in the Case-Shiller home price index by year'...

Two big lawsuits might change how houses are sold, making it harder for services that list homes and real estate agents to make money the way they do now. These lawsuits say the current system forces sellers to pay fixed fees, even if the sale is simple, and doesn’t let them save money. If the people suing win, many online home sites like Redfin and Zillow could be affected. The outcomes might cau...

Redfin CEO Glenn Kelman believes that the housing market has reached a critical low point, and the ongoing sales slump is expected to persist for an extended period. The market's dire state can be attributed to soaring mortgage rates and elevated home prices, which have severely hampered affordability for potential buyers. . With the median sales price nearing its all-time high and mortgage ra...

While interest rates may stabilize soon, there's no indication of rate cuts, so borrowing costs, including for buying homes, are expected to remain relatively high. The decision to pause reflects a data-driven approach, with the Fed monitoring the long-term effects of previous rate hikes. Some experts believe further rate hikes might be needed to combat inflation, while others think they may w...

A real estate developer Sean Terry is warning that there might be a big problem in the housing market in the next year. He's calling it a "Black Swan" event, meaning it's something unexpected and really bad. He thinks this could happen because the prices of houses are very high right now, and interest rates are also going up. He believes that the government might try to make hous...

The U.S. Department of Housing and Urban Development (HUD) offers $256 million to help improve neighborhoods and homes. This money will go to places that need it, like public housing areas and nearby neighborhoods. Groups like public housing offices and local governments can ask for up to $50 million each to make their communities better. They'll use the money to fix up old buildings, help peo...

The FED Isn't Happy! Despite 30-year fixed mortgage rates surpassing 7% and causing a dent in housing affordability, there's a contrasting trend at play. Mortgage rates are high, making it harder for people to afford homes. After prices dropped in 2022, they're going up again in 2023. Some homeowners hold onto their homes because they have lower mortgage rates. Even though more expensi...

In the last year, people from other countries bought fewer homes in the U.S., spending $53.3 billion, less than before. This comes from a report by the National Association of Realtors (NAR). The number of homes bought by foreign buyers went down 14.2%, the lowest since 2009. One reason is there aren't as many homes available, and borrowing money for homes got more expensive worldwide. The rep...

"The market is at a standstill," Redfin CEO Glenn Kelman said on "The Claman Countdown" Tuesday. "Sales volume is absolutely rock bottom. The people who need to sell won't do it because they don't want to give up their mortgages. The people who normally would buy can't afford it."A recent Redfin report unveiled an increase in million-dollar homes, with nea...