With tremendous sadness and generosity, my annual US roll. Real estate forecasts may continue. This year there will be more political bias, given that in 2016 it was about politicians and mental shock that it brought the American psyche. Most often, real estate forecasts are associated with solid numbers, sales expectations, housing start, and so on. D. T. D. T. D. Quite dry things if you are a normal person, but if you won a policy or a real estate broker, this legal entities nirvana. This year I will call my preliminary forecast Sydney No. 6.
Millennials (Send to Millennials)
According to Zillow magazine, “For thousands of years, they will become homeowners, raising the level of home ownership.” Millennials are also more racially diverse, so more homeowners will be people of color, reflecting the changing demographics of the United States. “If you're not a devout racist, this is probably a good omen. Like saying: "Happy wife ... happy life." Active housing reads as follows: “A happy labor market ... a happy America.
In addition, the National Housing Forecast for 2017 is in the blocking stage with Zillow, and its position is that in the coming year it is expected that most of the housing market participants will be involved in the millennia and baby boomers. The National Housing Forecast also notes that "... the millennia will represent the largest share of buyers by 33 percent, the market ratio, which actually decreased due to a significant increase in the negative increase in interest rates." From the point of view of the Midwest, researchers believe that they will lead the package to aggregate purchases. “This year the average market share in these markets is 42 percent, which is much higher than the average in the United States by 38 percent,” the report says.
New housing growth tied to job creation in Obama
Will the new housing be started better under Obama or the elected president. There are different opinions on this speculation, but this is what some of the professionals say. “Buyers of new homes will have to spend more, as builders cover the costs of growing construction work, which increased even more in 2017 due to constant difficulties that could worsen as a result of more stringent immigration policies with President Trump elected,” p Svenia Goodell, chief economist at Zillow. In addition, “the shortage of builders as a result may force builders to pay higher wages, which are likely to be transferred to buyers in the form of higher housing prices.”
Top score (foam top)
Even non-political wolves like to kick from above. In real estate terms, real estate valuation at home is the Eighth Wonder of the World. And, according to Zillow, they again received this precipitate in numerical value. However, just like the statistics, there are false news, good news and bad news. The good news is that the estimate (remember, a few years ago was not there), the bad news is that it will be lower than 2016.
“Household values will increase by 3.6 percent in 2017, according to more than 100 economic and housing experts surveyed in the latest Zillow Home price expectations survey. National household values rose by 4.8 percent until 2016.
---Zillow.com
The good news about this disappointing outlook is that slower price increases will be good for home buyers, as a slower market means slightly lower prices. However, some real estate experts cite this as the second turn of the market after a recession. Phase 1 became a boomerang of price acceleration after the market hit the mud. Another 800-pound gorilla expert in the room is Reator.com, which expects 3.9 ratings, compared with Zillow 3.6.
Foreign buyers will play a smaller role (No Visa, No Dinero)
LaTely, was quite a bit enhanced drama with number 45, even before he signed a lease on 1600 Avenue in Pennsylvania. Reasoning with world leaders seems to be the new norm, given the boobs for China with China, England and others. This raises the question of overseas buyers. The word on the street is that foreign buyers will be a little more cautious, since now they will have to consider their own visa and the status of a permanent foreigner, given the status of an elected president on immigration policy and visa reform. Translated: Hesitant's foreign buyers will mean less buying in the home market of luxury goods, a longtime favorite money bucket for foreigners to invest in the state.
While Orange - New Black, Small - New Large (or vice versa)
Based on facts, not speculation, the median area for new homes in 2016 fell down. This is a canary of mine. This is not good. Texas A & M Real Estate Center notes that for current and future shrinkage there are serious reasons that may be related to several factors: higher demand for homes close to urban centers, Tiny Home (thanks to HGTV), and “Come to Jesus »The moment of homeowners, who now realize that poor homebuyers can afford so many square meters. Solution, build small houses. Problem solved.
Loan democracy is the democratization of credit.
I advocated for housing mortgages that are more user friendly. And this is simply not me, it is the same as the analytical centers, since some of them are pro-business supporters. Translated: Increase FICO account requirements, but allow buyers and market participants (aka small investors) to play with less money. According to the mortgage affordability index, it is now easier to get a mortgage than at any time in the last eight years.
Banks may also be more likely to work with borrowers over the next few years, because they want to compensate for the decline in business refinancing when interest rates rise. “The pendulum deviated a little from the loss of the credit box,” says Darren Blomkvist, senior vice president of Attom Data Solutions. “I do not think that we will see the abolition of this with the new administration. We will probably see acceleration.
--- The Fiscal Times, November 22, 2016
In short, these are the main problems of why 2017 will be different from the point of view of real estate. The reasons are quite simple and logical. The newly elected president and his administration have three main policies that are changes to the game. Consider the following: 1) infrastructure spending, 2) tax cuts, and 3) changes in immigration policy. Cause and effect directly affect the new principles of construction and mortgage rates.
So you have it. One hates being the bearer of bad (and good) news. May we have a favorable year, and we hope that the gods of real estate will be open to their beloved Son.
