Today’s News Synopsis:

HUD and the Commerce Departments reported a 4.8% increase in housing starts for June.  The latest data showed an increase in default rates for consumer credit and mortgages, yet despite this consumers still remain optimistic about credit.  Fannie Mae reported they are unsure about the market in the second half of the year due to Brexit’s exit.

In The News:

DS News – “Income-Cost Mismatch Affects Affordability” (7-19-16)

“Though foreclosure and delinquency rates continue to fall, the national homeownership rate fell more than 5 percentage points in 2015 from its peak in 2004, according to a report from Fannie Mae. This decline has been primarily attributed to affordability.”

Housing Wire – “Fannie Mae: Brexit casts uncertainty on second half of 2016” (7-19-16)

“The economic growth outlook for the second half of the year remains unchanged from the previous forecast of 2%, however, Brexit still caused uncertainty among investors, according to Fannie Mae’s Economic and Strategic Research Group’s July 2016 Economic and Housing Outlook.

CNBC – “More Americans prefer cash or real estate to stocks” (7-19-16)

“When it comes to a long-term investment strategy, more people are sticking with a zero-risk, zero-return mentality.  A surprising 54 million Americans said they preferred cash investments for money they did not need for 10 years or more, according to a recent report by Bankrate.com.”

Bloomberg – “By This Measure, Homeownership in the U.S. Has Never Been More Valuable” (7-19-16)

“The value of owning a home in the U.S. has never been greater, at least according to one figure buried in a monthly Commerce Department report.”

NAHB – “Housing Starts Rise 4.8 Percent in June” (7-19-16)

“Nationwide housing starts rose 4.8 percent in June to a seasonally adjusted annual rate of 1.19 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Overall permit issuance increased 1.5 percent to a seasonally adjusted annual rate of 1.15 million.”

GlobeSt.com – “Three Mega-Trends Shaping Real Estate” (7-19-16)

“Factors ranging from the global economy to the outcome of the Presidential race undoubtedly will make an impact on commercial real estate in the foreseeable future. Yet the true near-term impact on the sector will come from three mega-trends, say real estate executives surveyed by Akerman LLP as part of the law firm’s annual report on CRE.”

Housing Wire – “Republican Parts calls for significant changes to housing in 2016” (7-19-16)

“Lost amid the uproar over Melania Trump’s supposed plagiarism of Michelle Obama on Monday night, the Republican Party actually conducted some official party business during the first night of its convention, when it approved its 2016 party platform.”

DS News – “Despite Rise in Default Rates, Credit Outlook Still Positive” (7-19-16)

“Consumer credit defaults as well as mortgage defaults are up from reported rates in May according to data from June by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults.”

 

Aaron Norris will be presenting his newest talk Marketing Trends and Strategies for Real Estate Pros in 2016 with Pasadena FIBI on Thursday, July 21.

Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with InvestClub for Women on Wednesday, September 21.

Bruce Norris will be presenting Stay Put, Cash Out, Or Change Seats? with InvestClub for Women and Robert Hall & Associates on Wednesday, September 28.

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