Today’s News Synopsis:

8 household items are going extinct.  Despite the production of homes being behind, the housing market as a whole is showing progress as 197 out of 337 metro areas were above normal levels.  Lawrence Yun of the National Association of Realtors said commerical prices in large markets may plateau and fall in some, but they are expected to remain stable in secondary markets.

In The News:

NAHB – “Housing Market Grows Modestly Even as Housing Production Lags” (11-6-2017)

“Markets in 197 of the 337 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the third quarter of 2017, according to the National Association of Home Builders/First American Leading Markets Index (LMI) released today.”

National Association of Realtors – “Commercial Real Estate Outlook Remains Strong, Prices at a Standstill” (11-6-2017)

“Commercial prices will plateau and may fall in large markets, but secondary markets will experience sustained demand and stable real estate prices, according to Lawrence Yun, National Association of Realtors chief economist.”

Forbes – “Department Stores Seek A New Direction, But Selling Real Estate Is Not The Answer” (11-6-2017)

“Recently we read about some new, and unusual, retail activity. It seems retailers have gotten into selling real estate in addition to their regular store assortments.”

National Mortgage News – “Trump team targets special ‘QM’ status for GSEs” (11-6-2017)

“When the Consumer Financial Protection Bureau finalized its mortgage underwriting rule in 2013, it granted government-backed loans an exemption. Years later, the government-backed market appears to be enjoying the benefits, sparking a debate about whether the exemption should remain.”

MarketWatch – “How the GOP tax plan would affect homeowners and buyers” (11-6-2017)

“The GOP tax reform plan contains a number of changes that will affect homeowners and buyers alike.  Prior to the plan’s release, the housing industry sounded an alarm about changes to the deductions for mortgage interest and property taxes.”

Bloomberg – “Airbnb May Face the Music Over Partying Tourists” (11-6-2017)

“The owner of the swank Palazzo apartment community in Los Angeles knew it had a problem when long-time residents complained about tourists overrunning their pools and gyms and committing late-night party fouls.”

Realtor.com – “These 8 Household Items Are Going Extinct (How Many Are in Your Home?)” (11-6-2017)

“From that convenient Keurig machine in the kitchen to the luxurious waterfall shower head in the bathroom, we’ve done a pretty thorough job of outfitting our homes with the latest modern amenities.”

Inman – “NAR may spend more on lobbying” (11-6-2017)

“The National Association of Realtors is considering increasing its political advocacy spending by $30 million annually, which may lead to an increase in annual dues per member if the trade group decides not to shift spending elsewhere.”