Thursday, July 29

Housing

Economy, home price inflation, Home Prices, Homebuyers, Homebuying, Housing, Housing Affordability, housing market, Markets, Real Estate, US housing boom, US Housing Crisis, us housing market

Wait until 2022 to buy a house, economists say

Prospective homebuyers will face low supply and high prices for at least another year. The US doesn't have enough homes to meet demand, and builders are struggling to keep up. Economists see price growth cooling in 2022, but only if construction picks up and demand holds steady. LoadingSomething is loading. ...
Caitlyn Jenner, California, covid, Homeless, Housing, Housing Affordability, Los Angeles, News-freelancer, politcs, Politics

The Tiny Homes going up on oddly-shaped slivers of’virtually unusable’ city land to shelter LA’s unhoused

Tiny Homes Villages are cheap and quick to build, and offer transitional housing for LA's unhoused. Built on small slivers of "virtually unusable" city land, like "oddly shaped junk lots," they are set up with the help of the local community. Around 66,436 people in Los Angeles County experience homelessness, according to the Greater Los Angeles Homeless Count. LoadingSomething is loading. ...
Buying A Home, Buying a house, Economy, gen z, Houses, Housing, Housing Affordability, housing boom, Housing Crisis, housing inventory, Markets, Millennials, Real Estate

Over half of young adults plan to use their pandemic savings on buying a home, which could worsen the housing crisis

59% of young adults plan to use their pandemic savings on a down payment for a house, per Zillow. A wealthier group of millennials was able to tuck away discretionary spending as savings last year. They drove the 2020 housing boom, which soon morphed into an inventory crisis. LoadingSomething is loading. ...
Biden, CFPB, Economy, Fair Housing Act, Housing, housing discrimination, HUD, Marcia Fudge, Markets, Policy, Politics, Real Estate, Redlining

Housing segregation is still happening decades after redlining was ruled illegal, Biden’s CFPB says

The CFPB just found fresh evidence of redlining, which has been illegal for over half a century. It found housing discrimination that prevented minority neighborhoods from receiving financial services. The Biden administration has taken other steps to increase homeownership for Black Americans. LoadingSomething is loading. ...
BI Commentary, Commentary Freelancer, Congress, Credit, Economy, Housing, Markets, Mortgage Loans, Opinión, Politics, Racism, Real Estate

America’s housing market is racist. Congress could easily help fix it if they wanted to.

Black borrowers are 80% more likely to be denied a mortgage than white borrowers. The Fair Lending for All Act would establish a new federal office to ensure discrimination in lending is not happening. The bill would help end discriminatory practices by clarifying that discrimination based on zip code or census tract is prohibited under ECOA. This is an opinion column. The thoughts expressed are those of the author. See more stories on Insider's business page. In 2020, Black borrowers were 80% more likely to be denied a mortgage than white borrowers. While this statistic is jarring, it is hardly surprising t...
Discrimination, Housing, juneteenth, New Jersey, Phil Murphy, Politics

New Jersey governor signed an executive order that bars landlords from asking tenants about their criminal history

New Jersey Gov. Phil Murphy passed legislation that bars landlords from asking prospective tenants about their criminal history. The new law is an attempt to make housing more equitable for people of color. Landlords can only inquire about criminal history if an applicant has met certain parameters, like registration as a sex offender. See more stories on Insider's business page. New Jersey Gov. Phil Murphy on Friday signed an executive order that broadly prohibits landlords from inquiring about a tenant's criminal history. Murphy signed the Fair Chance in Housing Act to honor Juneteenth, the holiday that recognizes the end of slav...