Equity-rich properties, Oregon Senate passes rent control, new research on aspiring homebuyers and more…
Under Senate Bill 608, landlords across the state could raise rent no more than 7 percent per year, plus the annual change in the consumer price index. The bill carves out an exemption for rental properties that are less than 15 years old. The measure would also prevent a landlord’s ability to evict tenants without a reason after they have lived in the building for a year. READ MORE
Young people aren’t buying homes as early in their lives as previous generations. Nearly 40 percent of millennials (defined here as those ages 18-34) say that not being able to afford a down payment is their top barrier to becoming homeowners, while another 20 percent say that the biggest obstacle is the fact that homes are too expensive.
Here’s how much you’ll need to save per month
If you start saving at age 20:
For a 5 percent down payment: $51.23
For a 10 percent down payment: $102.88
For a 20 percent down payment: $205.77
If you start saving at age 25:
For a 5 percent down payment: $88.55
For a 10 percent down payment: $177.10
For a 20 percent down payment: $354.19
If you start saving at age 30:
For a 5 percent down payment: $202.19
For a 10 percent down payment: $404.38
For a 20 percent down payment: $808.75
The Aspiring Home Buyer Profile compares and contrasts the perceptions of homeownership, the American Dream, and housing affordability from the perspective of non-homeowners. Data was collected throughout 2018 on a monthly basis as part of NAR’s Housing Opportunities and Market Experience (HOME) report, which monitors consumer sentiment about the housing market.
Topics include if now is a good time to buy a home, the perception of homeownership as part of their American Dream, why non-owners do not own now, and what would cause them to purchase in the future. READ MORE
A new report by Coldwell Banker reveals where the country’s wealthiest individuals are buying properties, listing the top 5 “power markets” for luxury real estate.
Coldwell defines power markets as areas that offer the lifestyle amenities, education, and culture that the uber-rich seek out. Key features of these markets include airport accessibility and a housing stock that lends itself to privacy, exclusivity and stellar views.
2018 Top 5 luxury buyer power markets
According to the company, only 13% of offers written by Redfin agents faced a bidding war in January. This is a drastic drop from 53% in January 2018. READ MORE
In the fourth quarter of 2018, more than 14.5 million American properties were rich with equity, according to ATTOM Data Solutions’ Home Equity & Underwater Report. ATTOM defines equity-rich properties as those with secured loans that are 50% or less of the property’s estimated market value.
According to ATTOM’s analysis, Q4’s total has risen by more than 834,000 year over year, marking the highest level since ATTOM began tracking data in Q4 of 2013. READ MORE
After nearly two years of continuous projected year-over-year increases in nationwide residential real estate appreciation, we predict that properties in the largest 100 markets will appreciate at just 3.9% in the coming year – a half-percent drop from the previous quarter’s forecast of 4.6%.
An in-depth look at communal living across life stages. READ MORE
Ellie Mae announced Tuesday it entered into an agreement to be acquired by Thoma Bravo, a private equity investment firm. READ MORE
There’s no such thing as Old Portland or New Portland—there’s just the Portland of right now. And there’s a lot to love. READ MORE
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