Today’s News Synopsis:

Homebuyers look to riskier mortgages to offset higher home prices.  The latest Home Price Report from CoreLogic shows home prices increased 6.9% in August.  Rents on LA properties managed to remain in place for the first time in seven months.

In The News:

CoreLogic – “CoreLogic US Home Price Report Shows Prices Up 6.9 Percent in August 2017” (10-3-2017)

“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI) and HPI Forecast for August 2017, which shows home prices are up strongly both year over year and month over month.”

CNBC – “Homebuyers rush to riskier mortgages as home prices heat up” (10-3-2017)

“Home prices are heating up yet again, and that is sending more potential buyers looking for ways to afford a monthly mortgage payment.”

NAHB – “Home Builders Revise Policy as Tax Reform Debate Heats Up” (10-3-2017)

“The National Association of Home Builders (NAHB) today voted to revise its policy regarding the nation’s tax code in light of recent discussions on tax reform between congressional leadership and the Trump administration.”

The Real Deal – “LA rent plateaus for the first time in seven months: report” (10-3-2017)

“For the first time in seven months, renters in the City of Angels can rejoice.  Rent in the city of Los Angeles remained stagnant in September after months of rising prices, Curbed reported.”

HousingWire – “Watt suggests CSEs need to hold some capital, urges Congress to act on housing reform” (10-3-2017)

“Federal Housing Finance Agency Director Mel Watt once again pressed Congress on the urgent need for housing finance reform due to the looming deadline of the government-sponsored enterprises’ capital buffer timeline.”

Realtor.com – “‘This Home Has Good Bones’: What That Really Means” (10-3-2017)

“Good bones: Home buyers are apt to hear this phrase when touring a home—i.e., their Realtor® will say, “This home has good bones!” So what does good bones mean, exactly?”

BiggerPockets – “5 Options for Investing in Real Estate With Bad Credit” (10-3-2017)

“Most people simply don’t have the liquid assets to buy investment properties in cash, which is why bank loans are traditionally used. However, for those with bad credit, a loan might not be an option.”

Curbed – “San Francisco real estate ‘overvalued,’ says Swiss financial firm” (10-3-2017)

“Zurich-based Union Bank of Switzerland (UBS) released its annual Global Real Estate Bubble Index Thursday. The financial firm ranks San Francisco as one of the most overpriced cities in the world. It also says we’re heading toward a dangerous price bubble.”