Today’s News Synopsis:

Both the National Multifamily Housing Council and the National Apartment Association released their latest data showing where it is too expensive to build new homes despite the need for more new properties.  More renters are continuing to rent simply because they are afraid to buy due to increasing home prices.  The most expensive foreclosure to ever happen could be seen soon with a New York penthouse foreclosing at $51 million.

In The News:

CNBC – “Soaring home prices kill renters’ confidence in buying a home” (6-26-2017)

“Mortgage rates are near record lows, employment is improving and rents are pricey. So why aren’t more renters taking the plunge into homeownership?”

Bloomberg – “These Are the U.S. Cites Where It Costs Too Much to Build” (6-26-2017)

“The U.S. needs more new housing.  Existing homes are in short supply for both buyers and renters, from bustling coastal metropolises to smaller inland cities.”

Fannie Mae – “As Mortgage Demand Cools and Competition Heats Up, More Lenders Are Planning to Ease Credit Standards” (6-26-2017)

“More mortgage lenders say they have eased credit standards recently and expect further easing in the coming months, according to Fannie Mae’s second-quarter 2017 Mortgage Lender Sentiment Survey.”

Realty Trac – “Buying a Foreclosure” (6-26-2017)

“Foreclosures provide an opportunity for homeowners and investors to get a great deal on properties they might not otherwise be able to afford.”

CNBC – “$51 million foreclosure of New York penthouse could be most expensive ever” (6-26-2017)

“A plush penthouse in one of New York’s most expensive buildings is headed to foreclosure, signaling new troubles for the high-end real-estate market.”

Financial Planning – “Airbnb?  Charter Schools?  Unusual real estate strategies” (6-26-2017)

“Wait a minute — Airbnb as a real estate strategy? Charter schools?  That’s right. Helping your clients who want to invest in real estate can go beyond buying a home, a REIT or a vacation property to include some unusual and innovative strategies.”

Bloomberg – “Buffett’s Bet on Store Capital Shows Not All Retail Real Estate Is Equal” (6-26-2017)

“Warren Buffett is betting that some types of brick-and-mortar real estate will hold up better than others in the age of Amazon.”

Huffpost – “Real Estate is Still the Ultimate Small Business” (6-26-2017)

“With summer coming on soon, and the heating up of real estate markets along with the weather, it’s a great time to talk again about the business of real estate investing.”