DIRS.INFO The most relevant business & tech news

☆ Renters' hopes of being able to buy a home have fallen to a record low, New York Fed survey shows
▼ + stars: | 2024-05-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The share of renters as of February who possess hopes of "residential mobility," or the belief from renters that they one day will be able to afford a home, fell to a record low 13.4% in the central bank's annual housing survey for 2024. Pessimism about future prospects comes amid a confluence of factors conspiring against the likelihood of renters being able to transition to home ownership. Moreover, mortgage rates have remained high by historical standards. Survey respondents expect housing prices to increase 5.1% over the next year, nearly double the 2.6% expected rate in February 2023 and above the pre-pandemic mean of 4.2%. Despite prospects for the Fed to cut interest rates before the end of 2024, respondents think mortgage rates are only going to go higher.

Persons: Freddie Mac, There's Organizations: New York Federal Reserve, New York Fed, National Association of Realtors, Fed, Federal, Market Locations: Manhattan, New York City, New

Thanks to high mortgage rates, mortgage refinance rates, and even higher home prices, the mood among hopeful homebuyers has been fairly bleak. Is there a chance the housing market will crash anytime soon? Though a large number of Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond. The US is currently between 2.3 million and 6.5 million units short of a healthy housing supply, according to Realtor.com. What a housing market crash would mean for homebuyersAnything is possible, and nobody has a crystal ball to see for certain what will happen in the housing market in the coming months and years.

Persons: —, homebuyers, Fannie Mae's, Lawrence Yun, Yun Organizations: Service, Housing Survey, National Association of Realtors, Housing Locations: Chevron

☆ An affordability crisis is making some young Americans give up on ever owning a home
▼ + stars: | 2024-02-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —Americans are living through the toughest housing market in a generation and, for some young people, the quintessential dream of owning a home is slipping away. Mortgage rates surged in recent years, hitting the highest levels in more than two decades last fall. CNN spoke with some young Americans about their thoughts on the current state of the US housing market and their plans for the future. “The housing market is not a single person’s market.”What typically happens when a regional housing market becomes too unaffordable is that people without the means simply move somewhere cheaper, such as a suburb an hour away, for example. Still, affordability takes into account mortgage rates, family incomes and single-family home prices, which remain a vexing pain point.

Persons: It’s, Baby, Brandie Grant, Grant, ”, “, ” Brandie Grant, Brandie, Ross, Emily Bunton, Ross Bunton, That’s, ” Bunton, I’m, Corey Griffis, ’, hasn’t, ” Griffis, Shyahm Aguilar, Shyahm Aguilar Shyahm Aguilar, Aguilar, we’ve, ” Aguilar, that’s, there’s, Fannie Mae’s, ” Mark Palim, Fannie Mae, Mario Tama, Daryl Fairweather, Redfin’s, Sofiya Vyshnevska, Vyshnevska, “ Young Organizations: DC CNN, Baby Boomers, CNN, San Francisco Bay Area, National Association of Realtors, Housing Administration, Montana State University, Federal, Housing Survey, “, NAR Locations: Washington, San Francisco Bay, United States, St, Louis , Missouri, Portland , Oregon, Mexico, Santa Fe , New Mexico, Santa Fe, Merida, Colorado, Phoenix, Queen Creek , Arizona, Minneapolis, Houston, Dallas, Austin , Texas, Tampa, Jacksonville, Orlando, Florida, Atlanta

☆ It's time for the Fed to cut interest rates and bring relief to Americans who 'cannot afford to pay rent,' Elizabeth Warren says
▼ + stars: | 2024-01-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Sen. Elizabeth Warren joined some of her colleagues in pushing for the Federal Reserve to cut interest rates. AdvertisementAs Americans grapple with high housing costs, a group of Democratic lawmakers is urging the Federal Reserve to implement relief as soon as possible. While rent costs have decreased slightly over the past few months, "high interest rates mean higher mortgage rates for landlords, who may pass off these costs in the form of rent hikes for their tenants," the Democrats wrote. Powell has previously acknowledged the impact of interest rate increases on housing costs. "The Fed has already signaled its willingness to cut rates, and the market has responded accordingly," the Democrats wrote.

Persons: Sen, Elizabeth Warren, —, — John Hickenlooper, Jacky Rosen, Sheldon Whitehouse, Jerome Powell, Powell, they'll Organizations: Federal Reserve, Service, Democratic, Harvard's, for Housing Studies Locations: York

☆ There's one big unexpected culture shock Americans can't stop talking about when they move to Europe
▼ + stars: | 2024-01-15 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +5 min

Americans who've moved to Europe often share the most shocking things about their new environments. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Americans living in Europe sometimes report relatively well-known differences as culture shocks, including siesta culture in Spain, where an afternoon nap is customary, and differences in tipping expectations . But there's at least one slightly more unexpected culture shock that many American expats can't stop talking about — hang drying clothes instead of using electric dryers. Some Americans have also filmed themselves navigating a drying rack, which they said they weren't used to using in the US.

Persons: who've, —, Ruth Schwartz Cowan, Kirstin Munro, Munro Organizations: Service, Housing Survey, Engineering, European Commission, European, University of Pennsylvania, Household Technology, American Technology, BI, New School for Social Research Locations: Europe, Spain, Italy, American, Germany, Latvian, New York

☆ Americans see cheaper mortgage rates ahead as expectations flip for the first time ever in Fannie Mae's latest survey
▼ + stars: | 2024-01-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

On balance, more Americans now see mortgage rates falling than rising in the year ahead. That's the first time it was happened in the history of Fannie Mae's survey. The latest National Housing Survey showed 31% of consumers expect mortgage rates to drop. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMore Americans than ever are expecting lower mortgage rates ahead, according to the latest Fannie Mae National Housing Survey.

Persons: Fannie, —, Fannie Mae, Mark Palim, Fannie Mae's Organizations: Housing Survey, Service, Fannie, Housing, Business Locations: Fannie Mae's

☆ The 10 states with the most single homeowners
▼ + stars: | 2023-10-04 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

The largest number of single homeowners per capita are in the Deep South, a new report shows. These single homeowners are likely to live in the Deep South , according to new analysis of 2021 census data by home construction company All Star Homes. "There are states that are in the Deep South that are high on the list, and then there are states that you could consider more progressive that are in the middle." AdvertisementAdvertisementAccording to All Star Homes, researchers at the company analyzed homeowner data from the 2021 American Housing Survey to figure out the per capita total of single homeowners in each state. Below, the 10 states with the most single homeowners per capita, along with median home price as of August, according to Redfin, and median per capita income, according to 2021 census data.

Persons: —, Jennifer Tracy, Manny Garcia, Zillow's Organizations: Service, Pew Research Center, Star, Star Homes, Survey, Rocket Mortgage Locations: Alabama , Mississippi, Louisiana

☆ More remote workers are willing to move in order to find affordable housing
▼ + stars: | 2023-09-03 | by ( Anna Bahney | ) edition.cnn.com time to read: +7 min

Continuing remote and hybrid work, at levels remarkably unchanged from two years ago, is enabling people to move toward housing affordability, the study found. At the beginning of the year, 22% of remote and hybrid workers said they would be willing to relocate to a different region or increase their commute. The research showed that among remote workers, all age and income groups have grown more willing to relocate or live farther away from their workplace since 2021. This is good news for remote workers during a time of crushingly low levels of home affordability. The researchers say the change to the housing market brought about by remote workers holds broader implications for the link between housing and the labor market.

Persons: Fannie Mae, Fannie, ’, “, ” Organizations: DC CNN, Housing, Housing Survey, Workers Locations: Washington, ’

☆ Over 80% of Americans think it's a bad time to buy a house
▼ + stars: | 2023-08-08 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Americans don't feel good about the prospect of buying a house right now. 82% think it's a "bad time to buy" a new home, according to a Fannie Mae survey. Affordability has plunged due to soaring mortgage rates and low inventory levels. And just 64% of the people surveyed by Fannie Mae believe it's a good time to sell a house. "Unsurprisingly, consumers continue to attribute the challenging conditions to high home prices and unfavorable mortgage rates," he added.

Persons: Fannie Mae, Fannie, Black Knight, Freddie Mac, Fannie Mae's, Doug Duncan Organizations: Service, Housing Survey, Federal Locations: Wall, Silicon, Fannie Mae's, Black

☆ Morning Bid: Markets hope China chooses to surprise on the upside
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +3 min

April 17 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. It's been a careful start to the week in Asia with stocks and bonds little changed and the dollar holding most of Friday's bounce. The caution is understandable given the week holds updates on Chinese economic growth and global PMIs, along with the Fed's Beige book and at least eight Fed speakers. Analysts are generally optimistic for the China data given the stunning strength of recent trade figures. Goldman Sachs (GS.N) and Morgan Stanley (MS.N) had both been expected to report a drop in profit, though that might not be inevitable given last Friday's upside surprises on earnings.

Twitter staff have spotted cockroaches in changing rooms and showers, sources told Insider. A representative for the company that owns the office building declined to comment. Staff at the office in Chelsea have seen cockroaches in the showers and a changing room at the facility, sources said. Twitter is the only direct leasee at the office building which is listed as a "Class B" building on CoStar, a commercial real estate database. Some staff at Twitter's headquarters in San Francisco have been sleeping in the office after Musk issued an ultimatum for staff to work "extremely hardcore."

☆ UK property market at risk of major downturn as recession fears loom
▼ + stars: | 2022-11-15 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

Matt Cardy | Getty Images News | Getty ImagesLONDON — The U.K. property market may be verging on a major downturn, with some market watchers warning of a collapse in prices of up to 30% as data points to the biggest slump in demand since the Global Financial Crisis. Meantime, the MSCI UK Quarterly Property Index, which tracks retail, office, industrial and residential property, slumped 4.3% in the three months to September, marking the sector's worst performance since 2009. The investment bank now sees U.K. property prices declining by around 10% by the second quarter of 2023. Rising interest rates, soaring inflation and the economic shock from Russia's war in Ukraine have weighed heavy on the global housing market. Indeed, according to Goldman Sachs' analysis, for every one percentage point increase in the U.K. unemployment rate, mortgage delinquency tends to rise by over 20 basis points after one year.

While it used to be impossible to charge your rent or mortgage payments to a credit card to earn points, that has changed in recent years. Several services let you pay your housing expenses with a credit card, and there's even a credit card designed for this very purpose. You can still earn points on your rent and mortgage payments by utilizing a processing service. Credit cards to use on rent and mortgage paymentsOnce you have a program picked out that lets you pay your rent or mortgage with a credit card, you'll want to choose a credit card that offers maximum rewards. Read our review Read Our Review A looong arrow, pointing rightThe Capital One Venture Rewards Credit Card and Capital One Venture X Rewards Credit Card earn 2x points on almost all spending, including rent and mortgage payments.

☆ 44% of UBS survey respondents plan to buy residential property in next 12 months
▼ + stars: | 2022-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email44% of UBS survey respondents plan to buy residential property in next 12 monthsJohn Lovallo, UBS senior research analyst, joins 'Power Lunch' to discuss a recent housing survey from UBS, who the company surveyed and how investors should view the homebuilder sector.

While it used to be impossible to charge your rent or mortgage payments to a credit card to earn points, that has changed in recent years. Several services let you pay your housing expenses with a credit card, and there's even a credit card designed for this very purpose. Credit cards to use on rent and mortgage paymentsOnce you have a program picked out that lets you pay your rent or mortgage with a credit card, you'll want to choose a credit card that offers maximum rewards. Read our review Read Our Review A looong arrow, pointing rightThe Capital One Venture Rewards Credit Card and Capital One Venture X Rewards Credit Card earn 2x points on almost all spending, including rent and mortgage payments. If you can earn points on rent and mortgage payments without massive fees, it's absolutely worth it.

Search resuls for: "Housing Survey"

15 mentions found