Significantly impacting the U.S. housing market despite facing economic challenges like the 2007-2008 financial crisis and a booming market has made homes less affordable. Those entering into homeownership are driving up demand and prices, a trend expected to continue due to delayed life milestones such as marriage and childbearing. This unique position is causing a shift in market dynamics, with older millennials increasing the average age of first-time homebuyers. Additionally, their preference for homeownership over renting, even at higher costs, and the undersupply of housing contribute to unusual buying behaviors. The future may see efforts to accommodate this demand, potentially stabilizing the market, homebuyers face ongoing challenges with affordability and the prospect of a future housing bubble due to demographic shifts. In today's stream, we will discuss the shift in the housing market and answer your real estate questions.

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LIVE STREAMS ARE OPINIONS EXPRESSED BY LICENSED REAL ESTATE AGENTS IN DIFFERENT REAL ESTATE MARKETS. DO NOT BASE YOUR HOME PURCHASE OR SALE ON THE OPINIONS EXPRESSED IN THIS STREAM. ALWAYS CONSULT YOUR LOCAL REALTOR FOR YOUR MARKET CONDITIONS.

In January 2024, the housing market saw the construction of new homes in the US drop significantly, marking the biggest decrease since the pandemic began. This suggests that the housing market's recovery will be slow, as potential buyers are waiting for mortgage rates to fall further. There was a notable decline in both multifamily and single-family home constructions. Despite this downturn, there's a hint of optimism among builders, hoping for lower borrowing costs to spur demand. However, challenges remain, such as high mortgage rates and a cautious stance from builders due to an elevated inventory of new homes.

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Professional sports teams are evolving into real estate giants, with billionaire owners leveraging the construction of new stadiums and arenas—often funded significantly by taxpayer dollars—as opportunities to develop surrounding areas into mixed-use districts featuring luxury apartments, shopping malls, and entertainment venues. This shift from traditional revenue streams like ticket sales to real estate development not only increases the asset values of their franchises but also changes the landscape of urban areas and sports leagues. While cities compete to host teams by offering lucrative deals, including substantial public funding for stadium construction and favorable development rights, the economic benefits of these projects for the public are debatable. Studies suggest that the financial returns on public investments in stadiums are minimal, with wealth being transferred from the general tax base to team owners, players, and a relatively affluent segment of fans, raising questions about the real winners in these deals.

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IVE STREAMS ARE OPINIONS EXPRESSED BY LICENSED REAL ESTATE AGENTS IN DIFFERENT REAL ESTATE MARKETS. DO NOT BASE YOUR HOME PURCHASE OR SALE ON THE OPINIONS EXPRESSED IN THIS STREAM. ALWAYS CONSULT YOUR LOCAL REALTOR FOR YOUR MARKET CONDITIONS.

Recent headlines about increasing foreclosures in the housing market may cause concern, but it's essential to put these reports into perspective. The current rise in foreclosures is compared to historic lows during 2020 and 2021 when moratoriums and forbearance programs helped homeowners. This comparison exaggerates the current situation. Historical data, including figures from ATTOM, a property data provider, shows that foreclosure activity is still significantly lower than during the 2008 housing crash and even below pre-pandemic levels. Experts like Rick Sharga and Molly Boesel emphasize that today's buyers are more qualified, delinquency rates remain low, and homeowners generally have enough equity to avoid foreclosure. In today's live stream, we will cover that while foreclosures are increasing, the market is not facing a crisis like in the past, and the current trends do not indicate an impending foreclosure wave.

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LIVE STREAMS ARE OPINIONS EXPRESSED BY LICENSED REAL ESTATE AGENTS IN DIFFERENT REAL ESTATE MARKETS. DO NOT BASE YOUR HOME PURCHASE OR SALE ON THE OPINIONS EXPRESSED IN THIS STREAM. ALWAYS CONSULT YOUR LOCAL REALTOR FOR YOUR MARKET CONDITIONS.

Last week, despite a slight increase in mortgage rates, there was a notable resurgence in homebuyer activity post-holidays. The Mortgage Bankers Association reported an 8% rise in home purchase applications compared to the previous week, although demand was still 18% lower than the same period last year. The average rate for 30-year fixed-rate mortgages with conforming loan balances rose marginally from 6.75% to 6.78%. Joel Kan, an MBA economist, highlighted a continued upward trend in purchase activity, primarily driven by conventional and FHA applications. In contrast, refinancing applications dropped by 7% from the previous week and were 8% lower than the previous year, largely due to the current rates being significantly higher than in the past two years. As of the start of this week, the average rate for a 30-year fixed mortgage had further increased to 6.92%, with no specific cause for the rise. Kyle Seagraves Joins the Stream From Win The House You Love To answer your mortgage questions.

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LIVE STREAMS ARE OPINIONS EXPRESSED BY LICENSED REAL ESTATE AGENTS IN DIFFERENT REAL ESTATE MARKETS. DO NOT BASE YOUR HOME PURCHASE OR SALE ON THE OPINIONS EXPRESSED IN THIS STREAM. ALWAYS CONSULT YOUR LOCAL REALTOR FOR YOUR MARKET CONDITIONS.

ately, the housing market is jus sick. House prices are shooting up really high, and finding a house that is affordable is getting even harder. The supply of homes is so weak for everyone who wants to buy one, and this is causing a lot of problems. People are fighting over houses and paying way more than they think they should. This isn't just about houses and money; it's a big problem for a lot of people who dream of having their own home. If we don't figure out how to fix this, owning a home might become just a dream for too many people.

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➡️Link for your unique 7-day free trial with a $35 monthly fee is - https://www.foreclosure.com/special.h....

LIVE STREAMS ARE OPINIONS EXPRESSED BY LICENSED REAL ESTATE AGENTS IN DIFFERENT REAL ESTATE MARKETS. DO NOT BASE YOUR HOME PURCHASE OR SALE ON THE OPINIONS EXPRESSED IN THIS STREAM. ALWAYS CONSULT YOUR LOCAL REALTOR FOR YOUR MARKET CONDITIONS.

n December, a significant drop in mortgage interest rates potentially sucked home buyers into an early start to this year's spring housing market. Rates fell about a full percentage point from their October peak, sparking consumer optimism for further decreases. Fannie Mae's consumer survey revealed a notable shift in homeowner expectations, with more believing rates will drop, a first since the survey's inception in 2010. This optimism follows a bond market rally and is more pronounced among homeowners and higher-income groups. The 30-year fixed mortgage rate has fluctuated considerably since the Covid pandemic, reaching record lows in 2020 and 2021, then more than doubling in 2022, peaking at around 8% in October 2023, and falling below 7% in December. Despite the recent decrease, rates remain double what they were three years ago. The housing market is showing signs of revival, with increased buyer activity and expectations of more property listings, potentially easing the tight inventory and high prices. Future market dynamics will hinge on the interplay of interest rates, home prices, and economic factors, including inflation.

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PODCAST ARE OPINIONS EXPRESSED BY LICENSED REAL ESTATE AGENTS IN DIFFERENT REAL ESTATE MARKETS. DO NOT BASE YOUR HOME PURCHASE OR SALE ON THE OPINIONS EXPRESSED IN THIS STREAM. ALWAYS CONSULT YOUR LOCAL REALTOR FOR YOUR MARKET CONDITIONS.

.https://www.cnbc.com/2024/01/08/mortg...

The housing market supply crisis gripping many parts of the US. Experts warn that it will take years to rectify the imbalance between the soaring demand for homes and the sluggish pace of home construction. This chronic housing shortage has been fueled by a complex web of factors, including regulatory hurdles, rising costs of materials, labor shortages, and land scarcity. As populations continue to grow and urbanize, the pressure on housing markets intensifies, leading to skyrocketing prices and affordability issues. The path to a solution is multifaceted, requiring coordinated efforts from governments, developers, and communities to increase supply, streamline regulations, and innovate in building technologies. Until these measures take effect, the housing supply problem remains a formidable challenge that will continue to shape the economic and social landscape.

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LIVE STREAMS ARE OPINIONS EXPRESSED BY LICENSED REAL ESTATE AGENTS IN DIFFERENT REAL ESTATE MARKETS. DO NOT BASE YOUR HOME PURCHASE OR SALE ON THE OPINIONS EXPRESSED IN THIS STREAM. ALWAYS CONSULT YOUR LOCAL REALTOR FOR YOUR MARKET CONDITIONS. https://www.cnbc.com/2024/01/03/mortgage-demand-down-9point4percent-for-final-week-of-2023-despite-recent-drop-in-interest-rates.html

2024's housing market predictions from various sources including Redfin, realtor.com, Fox Business, and Bloomberg suggest a mixed outlook. Redfin and realtor.com anticipate a steady rise in home prices and a competitive seller's market, driven by low inventory and continued demand. Bloomberg warns of potential economic factors impacting affordability, while Fox Business highlights potential opportunities in the multi-family real estate sector. Additionally, an NPR article reports on concerns about foreclosures among VA Loans due to the forbearance program, indicating potential challenges in housing finance that may affect the market's stability. Overall, the 2024 housing market appears t a complex interplay of factors, requiring careful monitoring for both buyers and sellers, so let's talk about it!!!

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Article from the stream: https://www.realtor.com/research/2024... , https://www.redfin.com/news/housing-m..., https://www.zillow.com/research/2024-..., https://www.bloomberg.com/news/newsle..., https://www.npr.org/2023/11/11/121185...

Mortgage rates recently reached the 6% range for the first time since August, with experts predicting further decreases due to declining inflation. The average 30-year mortgage rate dropped to 6.95%, down from 7.03% the previous week, attributed to seven consecutive weeks of rate declines. Housing economists anticipate more rate cuts in 2024, potentially bringing rates to around 6.3%. The Federal Reserve's plans to lower the federal funds target rate contribute to this outlook. However, while lower rates are expected to stimulate the housing market, shelter inflation, particularly in housing prices and rent, remains elevated, posing a challenge. Experts differ on the extent of inflation and its impact on interest rate cuts, with some calling for more significant reductions below 6% to drive housing market recovery.

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