Remove 2010 Remove Construction Remove Development Remove Housing Market
article thumbnail

US housing market is short 5.5 million homes, NAR says

Housing Wire

The National Association of Realtors says the current state of the housing market is absolutely “dire,” the consequence of a housing shortage 30 years in the making. According to the lobbying group, construction of long-term housing fell 5.5 between 2010 and 2020 fell 6.8 in the last decade.

article thumbnail

HECM program study assesses policy impacts of recent years

Housing Wire

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. Researchers estimated that the Federal Housing Administration (FHA) incurred a net loss of approximately $10.4

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Low housing inventory a win for homebuilders

Housing Wire

However, with active listings now near all-time lows, the builders’ new homes still have more value in the housing market than what we saw in previous decades. We didn’t have the credit stress issue from 2010-2023 like we did from 2005 through 2008. Census Bureau and the Department of Housing and Urban Development.

Inventory 531
article thumbnail

1.2 million homes face wildfire risk in California

Housing Wire

In June, insurance giants State Farm and Allstate pulled out of California’s home insurance marketplace, citing mounting construction costs. The actions contributed to instability in the state’s insurance markets which could have significant implications for homebuyers.

Insurance 305
article thumbnail

New home sales are at risk with rising mortgage rates ?

Housing Wire

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. Census Bureau and the Department of Housing and Urban Development. The only risk to that 6.2 percent (±11.9

Mortgage 440
article thumbnail

The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate

Miller Samuel

The New York state political zeitgeist was recently and suddenly tilted against luxury development in New York City. If this latest turn of events plays out as written, we'll be able to look back at this era as a milestone where the supertanker began to turn in the wrong direction for the new development multi-family industry.

article thumbnail

FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. housing market is experiencing a price “correction,” defined as a 10% price drop from its most recent peak. Our market cooled faster than any other in the nation, according to one report. Dining out.