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UNDERSTANDING THE TRUE COST OF HOMEOWNERSHIP

Will Springer Realtor

Some are even considering forgoing insurance altogether, risking their financial security once mandated by mortgage lenders. >> Seattle metro has benefitted from 6138 new apartment units in 2023, according to data compiled by John Burns Research and Consulting, which forecasts another 25,687 units in development.

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Affordable housing inventory is limited due to foreclosure prevention efforts

Housing Wire

Department of Housing and Urban Development ( HUD ) , that 200,000 represented close to 20% of all single-family homes supplied to the market in 2019. More Affordable than New Homes Not surprisingly, housing supplied by new homebuilders is higher priced than housing supplied by distressed property renovators.

Inventory 390
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AN URGENT CALL FOR CHANGES TO ZONING LAWS

Will Springer Realtor

shows a link between heart health and inclusionary zoning, where local governments require developers of new multifamily buildings to set aside a certain number of units for low-income housing. Economists generally believe the Fed’s easing will increase bond yields and, in theory, send mortgage interest rates higher. Yep, me too!

Law 36
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WILL WAR IN UKRAINE IMPACT OUR HOUSING MARKET?

Will Springer Realtor

The supply chain, already strained, may come under renewed pressure with threats to shipping lines and air travel. Similar fears exist for the energy supply, equity markets, currencies, electric and internet grids, and defense of nations aligned against Russia. Developers can build only so many new homes at a time!

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Will Springer Realtor - Untitled Article

Will Springer Realtor

In many cases, the long lag time to complete projects is no longer from dreaded supply-chain issues. Information from the National Mortgage Database shows 83% of all mortgage holders enjoy an interest rate below 5% when today’s average rate is about 6.5%. Legislation related to transit-oriented development did not pass.