Today’s News Synopsis:

Alt-doc loans have doubled in the last 2 years.  Home prices increased 3.6% year-over-year in May according to CoreLogic.  Where is the number one zip code for baby boomers to live in America?

In The News:

Curbed – “Oregon just effectively banned single-family zoning” (7-2-2019)

“Oregon just staked its claim as the state that’s most aggressively trying to address affordable housing.”

Realtor.com – “5 Common House-Flipping Myths You Should Never Believe” (7-2-2019)

“We’re willing to bet you’ve seen at least one episode of “Flip or Flop” or any number of other home makeover shows packing the HGTV schedule.”

Redfin – “Supply of Homes for Sale Down 0.3 Percent in June, First Annual Decline in 10 Months” (7-2-2019)

“The number of homes for sale nationally fell 0.3 percent year over year in late June—the first annual decline since inventory started climbing in September.”

CoreLogic – “CoreLogic Reports May Home Prices Increased by 3.6% Year Over Year” (7-2-2019)

“CoreLogic^® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI^™) and HPI Forecast^™for May 2019, which shows home prices rose both year over year and month over month.”

MarketWatch – “This is the No. 1 ZIP code in America for baby boomers” (7-2-2019)

“Call them boomtowns — for boomers.  In certain spots across America, a very high percentage of the population is made up of baby boomers (defined as those born between 1948 and 1962), according to a recent analysis of U.S. Census Bureau data by real estate rental site RENTCafe, which analyzed ZIP codes in cities with at least 100,000 residents.”

Realtor Magazine – “8.2M Could Have Lower Mortgage Payments” (7-2-2019)

“Mortgage rates are dropping, giving millions of homeowners an opportunity to lower their monthly payments. An estimated 8.2 million borrowers could refinance and potentially lower their monthly payments by at least 75 basis points, estimates Black Knight, a mortgage software and analytics firm.”

HousingWire – “Sound the alarm?  Alt-doc loans have doubled in the last two years” (7-2-2019)

“After the housing crisis, the credit box shrank with the installation of the Qualified Mortgage lending standards.”

Chicago Tribune – “The next housing bubble could come from technology” (7-2-2019)

“A decade after the housing crash, it is now possible to buy or sell a house with the click of a mouse.  If the practice catches on, it could lead to a far more efficient and affordable housing market — or another devastating bubble.”