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Housing Headlines Archives for 2016-12

ECONOMIC NEWS 

 

MarketWatch

New home sales hit 2nd-highest point of recovery with 592,000 annual pace in November

New-home sales jumped in November to the second-highest pace since early 2008, a fresh sign of robust demand for housing.

 

The Wall Street Journal

U.S. home construction lags behind broad economic rebound

U.S. unemployment is hovering near the lowest level in a decade, jobless claims have reached a 43-year low and home prices have surged to records. But in this eighth year of economic expansion, the number of single-family homes under construction remains at recessionary levels. (Subscription may be required.)

 

MarketWatch

Housing's big question — what will happen when buyers think 4% rates are 'crazy'

'Tis the season for authoritative forecasts about what to expect in the coming year, but given the enormous surprises that have rocked Washington, markets, and beyond in the past 12 months, MarketWatch decided to offer not predictions, but questions, about the housing market in 2017.

 

The Wall Street Journal

Trump win makes it tricky to foresee path of housing market

Before the presidential election, economists anticipated the housing market would continue its steady recovery in 2017. Growth in home prices and sales likely would slow after a four-year run-up, but new construction likely would pick up, bringing relief to those struggling to find affordable homes. (Subscription may be required.)

 

The New York Times

Long-term US mortgage rates hit highest levels since 2014

Long-term US mortgage rates climbed again this week, hitting the highest levels since 2014. Mortgage giant Freddie Mac said Thursday that the rate on 30-year fixed-rate loans jumped to an average 4.30 percent from 4.16 percent last week and the highest since April 2014. The average for a 15-year mortgage rose to 3.52 percent from 3.37 percent last week and highest since January 2014.

 

HousingWire

Fannie Mae: Expect modest growth in 2017

Sentiment may have improved to multiyear highs in the past few weeks, but 2017 will bring only modest growth, according to the Fannie Mae economic and strategic research group's December 2016 Economic and Housing Outlook.

 

MarketWatch

Existing-home sales edge up to a 9-year high in November

Sales of previously-owned homes rose modestly in November as lean inventory and higher prices continue to choke the housing market.

 

The Wall Street Journal

Percentage of young Americans living with parents rises to 75-year high

Almost 40% of young Americans were living with their parents, siblings or other relatives in 2015, the largest percentage since 1940, according to an analysis of census data by real estate tracker Trulia. (Subscription may be required.)

 

Business Insider (Reuters)

Trump's infrastructure-spending plans have a worker problem

President-elect Donald Trump's drive to rebuild US roads, bridges, ports, and other public-works projects with a $1 trillion infrastructure investment plan would come as the country faces a shortage of skilled laborers.

 

The Wall Street Journal

White House economists spell out the four most stubborn economic challenges

The White House released Thursday its annual Economic Report of the President, the last such volume produced by the Obama administration. While the nearly 600-page report catalogs what the administration views as its greatest successes, it also neatly frames what White House economists see as the most stubborn challenges facing economic policy.

 

HOUSING FINANCE
 

Bloomberg

How to get the government out of mortgage lending

One of the least discussed challenges of the incoming Trump administration may also be among the most economically consequential: what to do with Fannie Mae and Freddie Mac, the government-controlled entities that own or guarantee about half of all U.S. home mortgages.

 

The New York Times

Ben Carson's warped view of housing

Antigovernment ideologues resent the Department of Housing and Urban Development even when they know nothing about it. Ben Carson, Donald Trump's choice to run HUD, is a fine case in point.

 

DODD-FRANK

 

The Wall Street Journal

A checklist for fixing Dodd-Frank

The rumor mill suggests that reform of the Dodd-Frank financial law is imminent in the next Congress. It's about time. Despite what some legislators seem to believe, no bill is perfect and Dodd-Frank isn't the New Testament. (Subscription may be required.)

 

The Wall Street Journal

Two Republicans look to write the next Dodd-Frank

Idaho Republican Sen. Mike Crapo is a rare deal maker who has negotiated across the Capitol's partisan divide. Texas GOP Rep. Jeb Hensarling's record has been defined more by trying to cut government than cutting deals with Democrats. (Subscription may be required.)

 

HUD SECRETARY

 

The Wall Street Journal

Why liberals oppose Ben Carson

Do yourself a favor and hold off on joining the liberal outrage over Donald Trump's cabinet choices -- or at least better understand what's happening. (Subscription may be required.)

 

REGULATORY REFORM

 

The Wall Street Journal

Donald Trump's new appointments shake up trade, regulation

Donald Trump selected two key figures for his economic team on Wednesday, both of whom could jolt Washington's approach to trade and regulation. (Subscription may be required.)

 

AFFORDABLE HOUSING

 

Los Angeles Times

Tax breaks for second homes could end under lawmaker's proposal to fund low-income housing

In their quest for more money for low-income housing construction, state lawmakers are now turning to Californians who own more than one home.

 

TRENDS

 

MarketWatch

Tearing down an old house to build a big new one could alienate your neighbors -- and worse

Low inventory levels are making house shopping a challenge for many Americans. One solution gaining in popularity: Tearing down homes in good locations, erecting new and bigger ones in their places.