Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup.  A new analysis from Zillow shows with the drastic increases in rents, renters will be able to buy a much more expensive home and still stay within their budget.  The Bureau of Economic Analysis reported a 0.7% increase in GDP in the first quarter.  Freddie Mac will be releasing their financial results for the first quarter of this year on Tuesday, May 2.

In The News:

Mansion Global – “Trump Tax Plan Could Be Jackpot for Luxury Real Estate” (4-27-2017)

“President Donald Trump’s tax proposals spell a boon for the luxury property market, as the simplified rules would create sweeping tax cuts that benefit the wealthy while also retaining incentives for high-end homeowners.”

Zillow – “Renters Can Buy Without Increasing Their Monthly Housing Costs” (4-28-2017)

“Rent is so high that a typical renter in the U.S. can purchase a home nearly 50 percent more expensive than the median valued home and keep the same monthly housing budget, according to a new Zillow analysis.”

Freddie Mac – “Freddie Mac Announces Release Date for First Quarter 2017 Financial Results” (4-28-2017)

“Freddie Mac (OTCQB: FMCC) announced today that it plans to report its first quarter 2017 financial results before the U.S. financial markets open on Tuesday, May 2, 2017.”

Seeking Alpha – “Is It Time To Sell Real Estate?” (4-28-2017)

“Real estate has been one of the best investments over the last 6 or 7 years, but with the Fed intent on raising interest rates and some questioning how much longer this bull market can continue, many are wondering if it’s time to sell.”

Bureau of Economic Analysis – “National Income and Product Accounts Gross Domestic Product: First Quarter of 2017” (4-28-2017)

“Real gross domestic product (GDP) increased at an annual rate of 0.7 percent in the first quarter of 2017, according to the “advance” estimate released by the Bureau of Economic Analysis.”

Zillow – “Renters Can Buy Without Increasing Their Monthly Housing Costs” (4-28-2017)

“Rent is so high that a typical renter in the U.S. can purchase a home nearly 50 percent more expensive than the median valued home and keep the same monthly housing budget, according to a new Zillow analysis.”

The Real Deal Magazine – “New bipartisan House bill could boost construction lending” (4-28-2017)

“When mortgage bankers complain about Obama-era financial regulations hurting the industry, they usually point to one obscure rule: High Volatility Commercial Real Estate, or HVCRE.”

New York Times – “Creative Marketing for Luxury Condos” (4-28-2017)

“After a burst of construction, the luxury real estate market is awash with million- and multimillion-dollar homes for sale.  Buyers are taking their time before signing on the dotted line, and sales agents and brokers have had to get more creative in drawing attention to their listings.”