Today’s News Synopsis:

Even though there are over 5 million apartments in America that people can obtain at a cheap price, this may not last much longer as more and more people cannot afford higher-end places to live.  In fact, the demographic that is actually one of the highest in home buying is single women.  Fannie Mae reported a contraction in their gross mortgage portfolio this month.

In The News:

DS News – “Increases in Refinance Activity Influence Q3 Rate of Mortgage Fraud Risk” (10-30-16)

“CoreLogic recently released its latest Mortgage Fraud Report and as of the end of the third quarter of 2016, the report shows a 4.4 percent decrease in fraud risk from the previous quarter. This is measured by the CoreLogic Mortgage Application Fraud Risk Index.”

CNBC – “All the single ladies are shaking up this real estate market” (10-31-16)

“Gayane Meschyan is taking her time shopping — she expects to own this next purchase for at least 10 years.  At age 43, with no spouse or children, she wants to feel sure she’s making the right choice.”

Bloomberg – “There Are 5.6 Million Cheap Apartments in America.  Not for Long” (10-31-16)

“The Hidden Villa Apartments, a 61-unit complex in Beaverton, Ore., is the kind of property investors love and affordable-housing activists ignore.”

Inman – “FSBO and discount-broker sales at record lows” (10-31-16)

“You might think that the internet and today’s seller’s market is coaxing an unusually large share of homeowners into selling without an agent.”

DS News – “Fannie Mae’s Mortgage Portfolio Is Back to Contracting” (10-31-16)

“Fannie Mae’s gross mortgage portfolio saw a contraction of 16.3 percent this month after experiencing its first expansion last month since January of this year.”

Curbed – “As vertical farming grows, a new real estate opportunity takes root” (10-31-16)

“It’s a staple of rosy pictures of our urban future, often viewed as the farming equivalent of flying cars. But vertical farming, long considered a curiosity, is starting to take root now.”

Bloomberg – “One Measure of Risk Just Hit Its Highest Level in Four Months” (10-31-16)

“As the presidential election race narrows after Friday’s surprise FBI announcement, stock investors are finally showing some jitters.  Hedges against a market decline surged immediately following reports that the Federal Bureau of Investigation is reviewing files that may be related to an investigation of Hillary Clinton’s e-mail practices when she was secretary of state.”

Pensions & Investments – “Real estate managers park assets in new investments” (10-31-16)

“Real estate money managers are looking beyond the four food groups of retail, multifamily, office and industrial to provide investors with returns in a challenging investment environment.”