Today’s News Synopsis:

No Money Down Mortgage.  Is that still a thing?  The National Association of Realtors and Business Insider collaberated to come up with an estimate of how much you need to make if you want to buy a home in New York, Miami, or Los Angeles.  The top five spots in the US where the Chinese like to invest are Los Angeles, Miami, New York City, San Francisco, and Boston.

In The News:

Orange County Register – “No money down mortgages?  This credit union welcomes them back” (8-21-2017)

“No money down.  Three words that unnerve many real estate observers who wince at ugly memories of risky loans and the mortgage-making disaster of the previous decade.”

Realtor.com – “Where Millennials Live Alone – and Where They’re Still Crashing With Mom and Dad” (8-21-2017)

“The kids are not all right—or so the click-bait headlines would lead you to believe. There are countless stories about those flighty millennials who job-hop every year, are crazy-obsessed with their iPhone phablets and shell out too much on Instagrammable avocado toast or kale smoothies to move out of their parents’ basements and (gasp!) pay their own rent.”

The Real Deal – “This is the salary you need to earn to buy a home right now in New York, Miami and LA” (8-21-2017)

“Using the National Association of Realtors’ data on housing affordability, Business Insider gathered a list of the US metro areas where the minimum salary required to qualify for a mortgage, after a 20 percent down payment, is highest.”

PR Newswire – “July Construction Starts Increase 6 Percent” (8-21-2017)

“The value of new construction starts in July advanced 6% from the previous month to a seasonally adjusted annual rate of $728.1 billion, it was reported by Dodge Data & Analytics.”

Yahoo Finance – “The 5 US housing markets Chinese investors like most” (8-21-2017)

“Chinese buyers spend more money on US residential real estate than any other foreign investors, and now we have a better sense of where they’re putting their money.”

Inman – “NAR CEO Bob Goldberg: Disrupters aren’t ‘the boogeyman'” (8-21-2017)

“Realtors can be a fearful lot, seeing threats in new technologies and new business models that might change the way they do business.”

Realtor Mag – “Are Open Floor Plans Losing Appeal?” (8-21-2017)

“Open floor plans, which typically combine the kitchen, living room, and dining room in one large, open area, have dominated home design trends in recent years.”