Economist Expresses Concern About Housing Affordability

first_img 2021-04-30 Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The cost of homeownership has become so high that economists express concern.The following are the latest housing market metrics from Redfin.com, which examines data from more than 400 metros nationwide. Because comparisons to 2020 are skewed due to pandemic-related lockdowns in spring 2020, the researchers compared their statistics to both 2020 and 2019.The median home-sale price increased 20% year over year to $347,500, an all-time high. Note that this number is somewhat inflated due to a slight dip in median sale prices around this time in 2020, and due to fewer high-end homes being sold at this time a year ago, and more high-end homes being sold now. Asking prices reached an all-time high of $357,200.Homes that sold during the period were on the market for a median of 20 days, down 16 days from the same period in 2020 and the shortest time on the market since at least 2012.An all-time high 46% of homes sold for more than their list price, up 19 percentage points from the same period a year earlier.The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, increased 2.5 percentage points year over year to an all-time high of 101.2%, meaning the average home sold for 1.2% more than its asking price.58% of homes that went under contract had an accepted offer within the first two weeks on the market. This was a new all-time high since at least 2012.46% of homes that went under contract had an accepted offer within one week of hitting the market, an all-time high.Pending home sales were up 23% from the same period in 2019.New listings of homes for sale were down 12% from the same period in 2019. New listings were up 2% from the four-week period ending March 28. The small boost in the number of new listings fell far short of the 12% increase during the same period in 2019.Active listings (the number of homes listed for sale at any point during the period) fell 48% from the same period in 2019 to a new all-time low.Redfin’s Chief Economist Daryl Fairweather expressed concern—not about a potential market crash, but about the general state of homeownership in this country.I am concerned about how we as a society are going to reckon with just how expensive housing has become,” Fairweather said. “But I’m not worried about a housing crash because these sky-high prices are supported by the new reality of well-funded buyers who are often benefiting from newfound mobility via remote work. As the economy recovers, we have the opportunity to reimagine our country’s role in supporting a healthy housing market. For instance, we can subsidize construction of affordable homes or support first-time homebuyers in underserved communities. We have our work cut out for us when it comes to ensuring homeownership is attainable for middle-class Americans with good jobs and money saved up, not just for the wealthiest among us.” The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Economist Expresses Concern About Housing Affordability  Print This Post Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Economist Expresses Concern About Housing Affordability April 30, 2021 844 Views Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: McMichael Taylor Gray Expands Into New York and Vermont Next: The Week Ahead: Examining the Climate’s Impact on Housing Infrastructure Demand Propels Home Prices Upward 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Share 2Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe About Author: Christina Hughes Babblast_img read more

West Virginia police investigate body found near Appalachian Trail

first_imgWest Virginia police investigate body found near Appalachian Trail Police are now attempting to identify the body and ask that anyone with information contact Trooper First Class M.C. Morgan or Sergeant Chumley at 304-725-9779 or 304-725-9770. On Tuesday, West Virginia state police recovered human remains found near the Appalachian Trail in Harpers Ferry. Police were alerted after employees with a tree trimming service discovered a human skull. Clothing, including a blue “Montgomery Ward” dress shirt, red jacket with a stripe across the chest, white size 10 Puma shoes and a necklace with an image of “Saint Mary”, were recovered from the body. If social distancing is keeping you indoors, explore remote places virtually with Google Trekker Pandas finally mate after zoo closes to public during COVID-19 pandemic “The successful natural mating process today is extremely exciting for all of us, as the chance of pregnancy via natural mating is higher than by artificial insemination” Michael Boos, executive director in zoological operations and conservation at Ocean Park, where the pandas live, said in a statement. Hiking trails too crowded during this time of social distancing? Take a virtual hike from the safety of your own home with Google Trekker. Using Google Maps video technology, Google Trekker allows you to explore popular recreation spots such as Black Mountain Crest Trail and Chimney Rock State Park. There are two pandas in Hong Kong that apparently prefer social isolation. Ying Ying and Le Le, two 14-year-old pandas at a zoo in Hong Kong, have been attempting to mate since 2010. On Monday, an attempt was finally successful. The zoo where the pandas live has been closed since January due to the coronavirus, though there’s no word if their newfound privacy played a role in their mating success. The project is a collaboration between The Conservation Fund and Google Street View Trekker. “We are using technology for good,” The Conservation Fund says on their website, “to give virtual access to a few of the special places we have worked hard to protect for their natural, historical and human values.”last_img read more

Džeko among top 10 strike partnerships of the UK Premier League

first_imgBritish online sports magazine givemefootball.com  has published an article of the most potent partnerships the Premier League has had to offer this season and among the top ten is Edin Džeko and Carlos Tevez who play for  Manchester City.They wrote that Edin Džeko and Carlos Tevez scored 22 goals with 17 assists.They further say Manchester City sit 12 points behind rivals Manchester United and their strikers may have something to do with that. Despite starting only 13 games, Džeko has managed to rack up and impressive 12 goals – that’s more than both Sergio Aguero and Tevez who both have 10.last_img read more