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U.S: Housing issues to watch in 2013

Posted on 18 December 2012 by Laxman  |  Email |Print

Home prices finally hit a bottom in 2012, well ahead of many predictions that called for continued price drops this year. Prices were up 6% from one year ago in October, according to CoreLogic, putting them on track for their best year since 2005. Housing starts, which hit a bottom three years ago, ramped up to their highest level in four years.
Sales of new homes are running around 20% of last year’s levels, while existing home sales are up around 10%. Continued declines in homes listed for sale—particularly foreclosures—explain much of the improving price picture……………………………………..Full Article: Source

Canada: Soft landing for housing (with ‘rather obvious exception of Vancouver’)

Posted on 18 December 2012 by Laxman  |  Email |Print

Economists still see a soft landing for Canadian real estate as the market continues to cool. Sales plunged 11.9 per cent in November from a year earlier, slipping 1.7 per cent from October. Those numbers, released today by the Canadian Real Estate Association, prompted the group to cut its sales forecast for this year and next.
While prices are still relatively firm compared to sales, CREA said the national average slipped 0.8 per cent in November from a year earlier. The MLS home price index, which factors in changes in the types of homes sold, rose 3.5 per cent, though that’s the weakest increase since May of 2011……………………………………..Full Article: Source

Spending probably rose in U.S., home sales climbed

Posted on 17 December 2012 by Laxman  |  Email |Print

Consumer spending probably rose in November as Americans set aside the threat of higher taxes next year while shopping for the holidays. Household purchases increased 0.4 percent last month after declining 0.2 percent in October, according to the median estimate from 66 economists surveyed by Bloomberg before Dec. 21 figures from the Commerce Department. Other reports may show home sales and demand for long-lasting goods climbed.
Jim O’Sullivan, chief U.S. economist for High Frequency Economics Ltd. in Valhalla, New York said: “for the household sector, the housing numbers have been quite good. The labor-market numbers are OK.”……………………………………….Full Article: Source

U.S. housing climbs as Canada loses altitude

Posted on 12 December 2012 by Laxman  |  Email |Print

Housing activity in the United States is gearing up while Canada’s residential real estate market appears to be in for a soft landing, Bank of Nova Scotia economist Adrienne Warren says in a new research note.
While average prices in the U.S. are still about 30 per cent lower than their 2005 peak, the long road to recovery has begun. Real home prices in the third quarter were 5 per cent higher than a year ago, an acceleration from the 3-per-cent advance in the prior quarter, Ms. Warren noted………………………………………..Full Article: Source

Canada’s housing market: A victim of demographics

Posted on 11 December 2012 by Laxman  |  Email |Print

Demographic trends built up our housing market, and now they’re going to start pulling it apart. Prepare yourselves, buyers and sellers. The years ahead for housing will look nothing like the last decade.
A report issued by Pacifica Partners Capital Management in B.C., describes the housing market as we know it today as a product of a wave of buying by baby boomers in their peak earning years. Now, as they start entering retirement, boomers aren’t buying houses any more and the younger generation isn’t large enough to pick up the slack………………………………………..Full Article: Source

U.S: Cities where home prices are still getting hammered

Posted on 07 December 2012 by Laxman  |  Email |Print

Most of the major housing reports peg their price indexes to the largest U.S. cities in terms of population. Looking at major hubs like San Francisco, Washington, D.C., Miami, Phoenix and Dallas, it’s easy to see why economists trumpet rosy recovery projections and laud price appreciation.
But real estate is incredibly local and while many major cities have begun to show signs of life, that nascent rebound has yet to manifest in many smaller markets — like Valdosta………………………………………..Full Article: Source

U.S: Most affordable housing markets in the Country

Posted on 06 December 2012 by Laxman  |  Email |Print

Current rock-bottom mortgage interest rates make it a buyer’s market in most of the country, but there’s more good news for homebuyers: their money will also go further. Buyers can get a four-bedroom house in many parts of the U.S. and it won’t cost them more than $200,000, according to a new home prices survey by real estate firm Coldwell Banker.
“In 35% of all the markets in this survey the average price for a four-bedroom home is under $200,000,” says Budge Huskey, president and chief executive of Coldwell Banker. “When you look at interest rates where they are today: with a $200,000 home purchase you are looking at a monthly mortgage of around $1,000.”……………………………………….Full Article: Source

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10 most expensive cities to buy a home

Posted on 03 December 2012 by Laxman  |  Email |Print

The U.S. home prices have begun to rebound in the past year. And in the most expensive markets, where the average home sells for well over $1 million, recoveries are among the strongest, increasing between 20% and 50% in most cases.
According to Coldwell Banker Real Estate, there are at least ten U.S. cities where the average listing price for a home in the first six months of this year exceeded $1.2 million. The majority of these are located on or near the California Coast. For example, San Jose suburb Los Altos, homes sold in the first half of the year averaged a $1.7 million price tag. Based on data provided by Coldwell Banker, 24/7 Wall St. reviewed the most expensive cities for buying a home………………………………………..Full Article: Source

U.S: Now, homes fuel economy

Posted on 28 November 2012 by Laxman  |  Email |Print

The U.S. housing market, which plunged the economy into recession five years ago and was a persistent drag on the recovery, is now a key economic driver at a time when other sectors are slowing.
Economists project U.S. gross domestic product growth will slow in the final three months of the year from the sluggish 2% annual rate in the third quarter. Businesses, unnerved by the prospect of federal tax increases and spending cuts known as the “fiscal cliff” taking effect in January, have slowed their pace of investment spending. Defense spending also is expected to slow, further weighing on growth………………………………………..Full Article: Source

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American property market continues meteoric recovery

Posted on 23 November 2012 by Laxman  |  Email |Print

The American property market is continuing its meteoric rise from the ashes of depression to the clouds of happy dancing recovery as it sees one of the fastest and most definite turnarounds we have seen from the current crash.
Many had said that as American property market led the world into the crash that it would be the first to get back to business as normal, and while business as normal is a long way off yet, at the current pace it will indeed be the first to get back to normal runnings – in the western world anyway………………………………………..Full Article: Source

Focus: US housing

Posted on 22 November 2012 by Laxman  |  Email |Print

Housing starts in America rose by 3.6% to 894,000 in October, the highest in over four years, according to the Commerce Department. The rise in residential construction was widely unexpected; forecasters thought starts would fall after the 15% surge in September. New home building in the West increased by over 70% on a year earlier.
Single-family home starts fell slightly in October, but were up by 10% for buildings with five or more units. Homebuilding could add to GDP growth this year for the first time since 2005. Building permits (another leading indicator of consumer demand) in October were almost 30% higher than a year earlier—though were down by 2.7% on the previous month………………………………………..Full Article: Source

Colombia’s residential property market enjoying record pricing levels

Posted on 21 November 2012 by Laxman  |  Email |Print

The growth of Colombia’s real estate sector is having a strong impact on secondary housing markets. Following the rising price of new housing, used home (existing home sales) prices in Colombia have continued to increase and have now reached an historical high. According to a report by Portafolio, since the end of 2004 used housing prices have jumped 74%.
Housing demand in Colombia will likely remain strong given the current pace of the country’s economic growth and the general availability of financing. The Colombian economy is forecast to grow approximately 4.5% in 2012 and should grow more than at a healthy rate of 4% in 2013, particularly if the Central Bank does not raise the reference interest rate. ………………………………………Full Article: Source

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U.S: Housing agency woes offer chance to fix market

Posted on 19 November 2012 by Laxman  |  Email |Print

For the first time in its 78-year history, the U.S. Federal Housing Administration might need a government bailout. The agency’s most recent audit, released last week, reveals it is burdened by a $16.3 billion deficit in the value of its insurance fund, primarily on loans it backed ahead of the housing market’s collapse. The audit also reveals — or should remind us — that the federal government’s role in the mortgage market is outsized and should be reduced.
The FHA’s troubles are largely a result of the housing party hangover, including defaults from a questionable program that allowed sellers to cover the down payment on behalf of buyers, often by inflating the price of the home………………………………………..Full Article: Source

Brazil’s ‘go-go’ real estate days over

Posted on 15 November 2012 by Laxman  |  Email |Print

Hemisferio Sul Investimentos, which recently agreed to sell industrial and logistics properties in Brazil for three billion Brazilian reais ($1.5 billion), said Wednesday that the days of easy real-estate deals in the country are over.
HSI, as the Brazil-based real estate private-equity firm is known, on Wednesday said it agreed to sell industrial and logistics assets to Global Logistic Properties Ltd. , a warehouse operator partly owned by the Government of Singapore Investment Corp. The sale includes 35 developments spread through 10 Brazilian states and serving a variety of clients, said Maximo Lima, a founding partner of HSI, in an interview………………………………………..Full Article: Source

Housing policy still key for Obama’s next term

Posted on 09 November 2012 by Laxman  |  Email |Print

Though it wasn’t addressed much during the presidential campaign, the path toward a housing market recovery will remain a top issue among the many economic problems President Barack Obama faces in his second term.
The real estate market crash was a major trigger for the economic recession the president stepped into four years ago, and it will remain a major part of the overall economic recovery. His reelection was the least disruptive path for current national housing policy………………………………………..Full Article: Source

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American home prices rise in 81 pct of cities as markets recover

Posted on 09 November 2012 by Laxman  |  Email |Print

Prices for single-family homes rose in 81 percent of the nation’s cities as the property market extends a recovery from the worst crash since the 1930s.
The median sales price increased in the third quarter from a year earlier in 120 of 149 metropolitan areas measured, the National Association of Realtors said in a report Wednesday. In the second quarter, 110 areas had gains………………………………………..Full Article: Source

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3 Reasons to keep going to open houses after you purchase

Posted on 09 November 2012 by Laxman  |  Email |Print

Years ago, after closing on your American Dream with a 30-year fixed loan, you probably didn’t think much about the home’s value until you were ready to sell. Today, there’s so much more information available to home buyers. Markets move quickly, and life happens a lot faster.
And so, many people have become hyper-aware of their real estate investments, frequently watching the rise and fall of market values well after the close. Listing e-mails flow daily, and real estate apps likely sit prominently on many homeowners’ smartphones and tablets. Good real estate agents compile “mini CMAs” (Comparative Market Analysis) for their past clients, too, updating them yearly on the latest comps and values………………………………………..Full Article: Source

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It’s now Obama’s housing market: Street whispers

Posted on 08 November 2012 by Laxman  |  Email |Print

President Obama’s re-election Tuesday offers him a second shot at fixing the economy and, thereby, the housing market. Or is it fixing the housing market and, thereby, the economy?
The two are inextricably linked, which is why the President cannot afford to put housing issues on the backburner, even amid signs of a recovery in home prices. Housing data in recent months have been encouraging, with the S&P Case Shiller 20-city index showing a 2% rise in August on a year-on-year basis. Housing prices in September rose 5% over a year ago, according to Core Logic , the best showing since July 2006………………………………………..Full Article: Source

U.S: New households sprouting up

Posted on 08 November 2012 by Laxman  |  Email |Print

Americans are setting up house at the fastest rate in more than six years, an indication that recession anxiety, which prompted adult children to move in with their parents and single people to postpone marriage, is starting to ease.
The nation added 1.15 million households in the 12 months that ended in September, according to the most recent Census Bureau data. That is a significant rise from the past four years when an average of 650,000 households were formed annually………………………………………..Full Article: Source

Canada’s hot housing market chills in September as prices drop

Posted on 25 October 2012 by Laxman  |  Email |Print

Canadian home prices in September fell the most in nearly two years, suggesting that recent changes to the country’s mortgage rules have reined in Canada’s once-hot housing market.
The Teranet-National Bank Composite House Price Index, or HPI, fell 0.35% in September from August, with price drops observed in six of the 11 major Canadian cities watched by the index, including British Columbia’s Vancouver and Victoria markets, as well as Montreal………………………………………..Full Article: Source

More reasons to cheer the U.S. housing market

Posted on 10 October 2012 by Laxman  |  Email |Print

There is some good news on the housing front with two reports indicating the long-stagnant U.S. real estate market is climbing to its feet and growing more stable. The first indicator comes from CoreLogic, which says the nation’s current “shadow inventory” of homes is in decline, a healthy sign more houses are moving off the “for sale” market.
According to CoreLogic, shadow inventory fell 10% from July 2011 to July 2012, from 2.6 million to 2.3 million units. That’s about the same level in March 2009, when the U.S. housing market was sinking fast………………………………………..Full Article: Source

Cuban property market booms after limited reforms

Posted on 09 October 2012 by Laxman  |  Email |Print

The property market remains closed to foreigners and even Cubans are only permitted to own one home, to prevent speculation. But the freedom to sell has brought all sorts of people out onto the streets.
“These changes had to happen,” says architect Juan-Carlos, who’s browsing the tree-ads. He’s planning to pool resources with a friend, buy a bigger flat and start renting rooms to tourists to supplement his small state salary………………………………………..Full Article: Source

What about Canada’s housing bubble?

Posted on 08 October 2012 by Laxman  |  Email |Print

Although there is some truth to the oft-repeated idea that Canada regulates its banking industry more conservatively, there is more than just circumstantial evidence that the generally conservative outlook has not prevented a housing bubble from forming.
Housing prices have doubled across Canada over the last 10 years, despite broadly-flat wages. While higher prices in markets such as Calgary, Edmonton or Fort McMurray could, perhaps, be explained by an influx of workers tied to the energy industry (and a shortage of housing in place), it’s harder to explain why housing prices in Toronto and Vancouver should be about three and four times higher than average prices in the United States and more than double their historical average price ratios………………………………………..Full Article: Source

The quantifornication of U.S. housing market, banks and economy

Posted on 08 October 2012 by Laxman  |  Email |Print

Overheated US housing prices started dropping in 2006. Homeowners were going underwater (they owed more than the house was worth) and many had questionable credit - “fog the mirror loans” were common, if you breathed you got a loan. *Banks sold these mortgages to agencies like Fannie Mae and Freddie Mac.
They bundled the mortgages with other loans bearing similar interest rates and then sold them as Mortgage-backed securities (MBS), so called because their value was backed or secured by the value of the underlying mortgages………………………………………..Full Article: Source

US housing market continues upward trend

Posted on 03 October 2012 by Laxman  |  Email |Print

House prices in America have climbed for the sixth month in a row, raising hopes the economy is strengthening. Two separate reports are showing increases in house prices in the US, with one pointing to a 4.6 per cent jump in August compared with the same time last year.
Economists are split over whether the housing recovery is sustainable. They believe a steady improvement in prices might reassure Americans that the recession is behind them and encourage further spending. Mortgage rates remain at record lows in the US but economic growth is still sluggish………………………………………..Full Article: Source

Canada: One nation under two real estate markets

Posted on 01 October 2012 by Laxman  |  Email |Print

Canada is one nation but these days it looks like two commercial real estate markets. There is the west where demand continues to soar, aided but a booming resource market, and then there is the east, which continues to tread water as it attempts to keep a lid on vacancies.
“It really is black and white,” said Ross Moore, national research director at CB Richard Ellis Canada, which will release its third quarter results next week showing a stark contrast between everything west of Ontario and the rest of the nation………………………………………..Full Article: Source

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Housing market cool down widespread across Canada

Posted on 25 September 2012 by Laxman  |  Email |Print

Canada’s housing market appears to be cooling across the board in the face of tighter mortgage rules that affect many first-time buyers of modest means.
The think-tank’s snapshot of resales for August shows a widespread decline in sales of existing homes, with 21 of 28 metropolitan markets registering a drop from July, and 16 of the markets showing a falloff of five per cent or more. As well, listings fell in 17 of the 28 markets, an indication that owners were reluctant to place their homes for sale due to soft conditions………………………………………..Full Article: Source

Canada: At worst, housing market headed for soft landing: Scotiabank CEO

Posted on 19 September 2012 by Laxman  |  Email |Print

Canada’s housing market is “at worst” destined for a soft landing, the head of one of the country’s largest banks predicted Tuesday. Speaking in Toronto, Bank of Nova Scotia chief executive officer Rick Waugh said even though there is a housing bubble in Canada, he doesn’t expect the residential real estate market to crash.
“What we see now is probably, at worst, a soft landing,” Mr. Waugh told reporters after a speech to the Toronto financial community………………………………………..Full Article: Source

Is this the right time to invest in Mexican real estate?

Posted on 19 September 2012 by Laxman  |  Email |Print

While the real estate market in Mexico avoided the severe crash seen in the U.S. and other countries from the global economic crisis of 2008-2009, it did suffer a slowdown. Investment money dried up, while Americans and other foreign nationals sold their properties at low prices to cut losses back home.
But there’s been a turnaround of sorts — with a slowly expanding Mexican economy coupled with the hope that recent presidential election results will provide internal stability — that’s providing opportunities, analysts say………………………………………..Full Article: Source

Chilean residential real estate market activity at highest level in four years

Posted on 18 September 2012 by Laxman  |  Email |Print

Driven by strong economic conditions and increasing credit availability, Chilean residential real estate market activity remains at its strongest level in four years, with at least 56 new projects in Santiago under development. Total authorized area for construction in the first half of the year surpassed 7.5 million square meters. Real estate sales in the second quarter jumped 35 percent year on year.
Based on a report by the Chilean newspaper El Mercurio, 36 apartment building projects in Santiago currently under development constitute a pipeline of 6,212 units. 18 projects comprised of houses represent 1,006 units that will come on line………………………………………..Full Article: Source

Sellers’ remorse hinders housing market

Posted on 12 September 2012 by Laxman  |  Email |Print

It’s a great time to buy a home. Selling a home? That’s a different matter. The combination of the sharp decline in home prices since the housing bust and record-low mortgage rates have brought housing-affordability indexes to record highs. And with rents rising, home price-to-rent ratios—the housing equivalent of a price-to-earnings ratio for stocks—are at their lowest levels in more than a decade.
Small wonder, then, that when households polled for the Thomson Reuters/University of Michigan’s survey of consumers in August were asked whether it was a good time to buy a home, most said yes………………………………………..Full Article: Source

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Real estate agents say US homes selling faster after hitting the market than a year ago

Posted on 06 September 2012 by Laxman  |  Email |Print

U.S. homes are taking less time to sell than a year ago, reflecting more homebuyer demand and fewer bank-owned homes and other properties available for sale in some markets.
The National Association of Realtors said Wednesday that the median time a previously occupied home was listed for sale shrank in July to 69 days. That’s down from 98 days in the same month last year……………………………………..Full Article: Source

U.S. home prices rise by most in 6 years

Posted on 05 September 2012 by Laxman  |  Email |Print

U.S. home prices jumped 3.8 percent in the 12 months ending in July, according to a private real estate data provider. The year-over-year increase was the biggest in six years, further evidence that the housing market is steadily recovering.
CoreLogic says home prices also rose 1.3 percent in July from June. That’s the fifth straight increase in both the monthly and year-over-year price indexes. CoreLogic’s price index is the third national index to show steady increases. The Standard & Poor’s/Case-Shiller index posted its first annual increase in nearly two years last week. And a federal government housing agency has also reported annual increases…………………………………….Full Article: Source

US: How the presidential election affects the real estate market

Posted on 03 September 2012 by Laxman  |  Email |Print

President ObamaFour years after the housing bubble burst, there’s much unfinished business regarding the restoration of the nation’s real-estate market for the next president to tackle, experts across the political spectrum say.
Whether you prefer President Obama or Republican nominee Mitt Romney, there’s no denying that the next president’s economic and employment policies will be a key driver of the health of real estate for the next four years, not to mention the price of a mortgage………………………………………..Full Article: Source

Next president will shape direction of housing market

Posted on 03 September 2012 by Laxman  |  Email |Print

The next president’s economic and employment policies will be a key driver of the health of real estate for the next four years, not to mention the price of a mortgage. His policies will influence who can afford to buy a house and the amount of profit or loss to be had.
“The next president, whoever it turns out to be, is going to have a couple of big housing issues to address,” said Barry Zigas, director of housing policy at the Consumer Federation of America. For starters, “what is the government’s role in housing finance and will consumers have access to mortgages at affordable rates?” ……………………………………….Full Article: Source

Realtors’ pending home sales index shows a healthy market

Posted on 30 August 2012 by Laxman  |  Email |Print

Americans signed more contracts to buy homes in July than at any time in the last two years, further evidence of a housing recovery. The National Association of Realtors said Wednesday that its index of sales agreements for previously occupied homes jumped 2.4% in July to 101.7. That’s higher than June’s 99.3. It’s also the highest reading since April 2010, last month that buyers could qualify for a federal home-buying tax credit.
A reading of 100 is considered healthy. The index is 12.4% higher than July 2011. It bottomed at 75.88 in June 2010 after the tax credit expired………………………………………..Full Article: Source

Growing concern over high property prices in new zealand

Posted on 30 August 2012 by Laxman  |  Email |Print

It’s a problem that would currently be welcomed by many countries, but New Zealand is concerned over rising property prices and feels those who can afford a home may be forced to spend much of their income doing so, while those who are unable to afford a home may consider moving overseas.
The median house price in New Zealand has hit an all-time high of NZ$372,000 which is 6% more than before the global financial crisis, and is more than double compared to a decade ago. This median price is now around five times the median household income, and in Auckland median prices are around NZ$500,000, nearly 10 times the average annual wage of NZ$53,000………………………………………..Full Article: Source

US: Hottest and coldest housing markets

Posted on 29 August 2012 by Laxman  |  Email |Print

U.S. home prices rose in June from the same month last year, according to the Standard & Poor’s/Case-Shiller home price index released Tuesday. Steady increases have contributed to a housing recovery that began earlier this year. And most markets are being affected by foreclosures.
Bank-owned homes typically sell at a sharp discount, weighing down the values of nearby homes. In markets where the supply of bank-owned homes for sale has declined, investors and other buyers will often drive up prices on the few properties that hit the market………………………………………..Full Article: Source

Best places for the rich and single

Posted on 27 August 2012 by Laxman  |  Email |Print

Money can’t buy you love, but what’s wrong with a little window-shopping? Check out these 25 towns for the wealthy unattached. 1. Newton, MA: Move to Newton to meet someone rich and famous. Matt Damon and Louis C.K. grew up there. Amy Poehler was born there. Media magnate Sumner Redstone still calls it home, and even though he’s pushing 90, he still is on the market.
For a little nightlife, head next door to Boston or catch some local culture from one of Newton’s two symphony orchestras. Go incognito with your future celebrity sweetheart at a secluded spot along Crystal Lake. Or go public and shout your love to the world beneath Hemlock Gorge’s Echo Bridge……………………………………….Full Article: Source

4 signs the housing market is improving

Posted on 23 August 2012 by Laxman  |  Email |Print

Asif RahmanDear depressed homeowner, ready for some good news? Try this on for size: “While the general U.S. economy continues to struggle to make gains, for the first time since the end of the recession, housing may actually make a significant contribution to economic growth in 2012, a welcome change to affairs for an otherwise struggling economy.”
The above excerpt comes from CoreLogic’s August MarketPulse Report which provides insight into the current and future health of the U.S. economy with emphasis on housing and mortgage metrics………………………………………..Full Article: Source

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US: Top-earning towns

Posted on 22 August 2012 by Laxman  |  Email |Print

Luxe homes, great schools and exclusive communities. It takes a big paycheck to live large in these 25 posh patches. 1. Bethesda, MD: An easy commute from Washington D.C., Bethesda is a hotspot for the highly educated, with nearly half of its residents boasting a graduate or professional degree.
Though Washington D.C. is a quick Metro ride away, there’s no need to head to the nation’s capital for culture. Bethesda’s urban downtown offers its own live theater, international cuisine and a variety of events, from monthly art walks to annual juried art competitions………………………………………..Full Article: Source

America’s best places to live

Posted on 21 August 2012 by Laxman  |  Email |Print

These terrific small cities offer strong job opportunities, great schools, low crime, quality health care, and a true sense of community. 1. Carmel, IN: Five years ago Carmel was a quiet, upscale bedroom community that offered an easy 20-minute commute to downtown Indianapolis. Despite the recession, this formerly sleepy burb has since transformed itself into the ideal place to work and play.
Carmel’s business district now has the second-largest concentration of office workers in Indiana and an unemployment rate that’s just over half the national average………………………………………..Full Article: Source

Brazil’s real estate boom begins to lose traction

Posted on 14 August 2012 by Laxman  |  Email |Print

Lending for real estate development in Brazil, including both mortgages and bank loans to developers, may post healthy growth this year, by international standards, but the expansion will be considerably less robust than in previous years.
The total volume of such lending is expected to expand 20% in 2012, to some 95.9 billion Brazilian reais ($47.35 billion). That level of growth is not only smaller than expected, it also represents a sharp decline from recent-year trends, when real estate lending typically advanced by 50% per annum………………………………………..Full Article: Source

Canada’s hot housing market shows signs of cooling

Posted on 10 August 2012 by Laxman  |  Email |Print

David TulkCanada’s hot housing market showed signs of cooling on Thursday as July housing starts slowed more sharply than expected, but housing prices were still climbing in June and analysts said a real slowdown may not come until late in 2012.
Groundbreaking on new homes fell to a seasonally adjusted annual rate of 208,500 units in July, according to the Canadian Mortgage and Housing Corp, a sharp slowdown from the 222,100 units in June and below the forecasts of analysts in a Reuters poll, who had expected 213,300 starts………………………………………..Full Article: Source

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What’s going on in the US housing market?

Posted on 09 August 2012 by Laxman  |  Email |Print

Mark PerryThere is growing evidence that the US housing market has bottomed, with the latest indicators all pointing toward the nascent recovery continuing through the second half of the year.
The Federal Housing Finance Agency (FHFA) said last week in its latest monthly report that house prices rose by 0.8% month-on-month in May, reaching their highest level since August 2010………………………………………..Full Article: Source

Long road to US housing recovery despite tighter supply

Posted on 09 August 2012 by Laxman  |  Email |Print

Glenn KelmanUS home prices are inching up as an ebbing tide of foreclosures creates a shortage of properties at a time of pent-up demand, but do not expect the housing market recovery to shift into higher gear.
Tightening house supplies have turned some parts of the country into sellers’ markets, marked by intense bidding wars among buyers eager to take advantage of rock-bottom mortgage rates and still-low home prices………………………………………..Full Article: Source

Buying beats renting in most U.S. cities

Posted on 06 August 2012 by Laxman  |  Email |Print

For people who are willing to stay put for a few years, buying a home has become a much better deal than renting in almost every major housing market in the nation.
In more than 75% of the 200 metro areas analyzed by real estate listing web site Zillow, homeowners would reach a “breakeven point” — where owning the home makes better financial sense than renting it — in three years or less………………………………………..Full Article: Source

Will foreigners abandon the U.S. housing market as prices rise?

Posted on 30 July 2012 by Laxman  |  Email |Print

Foreigners have been making the sad, broken housing market feel better for a little while now—taking her to the movies, telling her how great she looks, buoying her confidence after the fiasco of the housing market crash.
But now those foreign buyers may be going away, writes a Trulia economist in a Forbes column. It was just a fling, and the housing market knew that sooner or later they would have to move on, that a healthy relationship would have to be forged with people who call the United States their primary residence. But stil……………………………………….Full Article: Source

Houston tops list of America’s coolest cities to live

Posted on 27 July 2012 by Laxman  |  Email |Print

Houston is known for many things: Oil, NASA, urban sprawl and business-friendly policies. But the Texas city deserves to be known for something else: coolness. The Bayou City may not be the first place you associate with being hip or trendy. But Houston has something many other major cities don’t: jobs.
With the local economy humming through the recession, Houston enjoyed 2.6% job growth last year and nearly 50,000 Americans flocked there in response — particularly young professionals. In fact, the median age of a Houston resident is a youthful 33………………………………………..Full Article: Source

Canadian house prices set record again

Posted on 27 July 2012 by Laxman  |  Email |Print

Canadian home prices hit a third straight record high in June, but a slowdown in the pace of price increases suggested the red-hot housing market is cooling, the Teranet-National Bank Composite House Price Index showed on Wednesday.
The index, which measures price changes for repeat sales of single-family homes, showed overall prices climbed 1.2 per cent in June from a month earlier. From a year earlier, the index was up 5.4 per cent, with Montreal rising 4.4 per cent. But it was the seventh straight month in which year-on-year price gains slowed………………………………………..Full Article: Source

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