Could Home Price Surge Lead to Another Crash?

first_imgHome / Daily Dose / Could Home Price Surge Lead to Another Crash?  Print This Post Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News August 24, 2020 2,922 Views The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Even in the face of a pandemic, elevated unemployment, and a general nationwide recession, home prices have surged, researchers recently reported. “Prices are defying logic, expectations, and even belief, as they shoot up to record highs amid an unprecedented health and economic crisis,” reported Realtor.com, which went on to weigh the questions: “Are some markets getting too hot? Could a significant correction be around the corner?” Markets in possible peril include “some high-priced California and less expensive Rust Belt, Midwestern, and Southern markets,” Realtor.com reported.  Prices have shot up by more than 20% in the past year in some of these regions. Experts who spoke with Realtor.com discussed the sustainability of this “seemingly irrational home price exuberance” and speculated that “bubble territory” could be looming. They also speculated that a Great Recession-type bust is unlikely. Nationally, the median home list price rose 10.1% year over year in the week ending August 15, according to the most recent Realtor.com figures.  This year’s high prices are driven by many buyers competing for a very limited inventory. More demand than supply means higher prices. “Some markets are overvalued,” said Javier Vivas, Realtor.com’s Director of Economic Research. “Growth of prices in a recession is pointing in that direction. Some markets are seeing increased risks of price corrections.” More likely than a bubble pop is the chance that home prices would come back to reality, Vivas said. “Typically, market corrections happen fairly quickly, within two or three months, as priced-out buyers make a beeline for the sidelines,” Vivas said. “This year, record-low mortgage interest rates are muddying the picture.” Rates at an unprecedented sub 3% are driving more buyers into the market and allowing them to stretch higher on what they’re willing to pay. Lower rates mean lower monthly mortgage payments. That’s allowing sellers to ask—and receive—more for their properties. Those unable to buy in the spring because of the pandemic—along with buyers desperate for larger, single-family homes with big backyards after sheltering in place for months—are adding to the rising demand. However, worries about the pandemic have led to a record-low number of homes for sale, as sellers decided to wait out the health crisis. Meanwhile, many builders were forced to pause projects in some parts of the country. That has led competing buyers to bid up prices hoping to secure a property. The 2020 home price ramp-up is happening in some of the nation’s most expensive and inexpensive markets alike.“In the inexpensive markets, you have a ton of space for prices to grow. You can see them overheat and absorb that overheating better,” says Vivas. That’s unlike the already high-priced coastal areas. “The outlook for them is a faster and broader correction, [with] slight declines in home prices.” Realtor.com explained why America likely will not see the housing-bubble pop it saw in 2008.  Until more properties come online, the low-inventory-high-demand dynamic is unlikely to change. The Great Recession had the opposite problem: There were many more homes available than qualified buyers. “In the aftermath of the housing bust, it’s become harder for buyers without good jobs and strong credit to score mortgages. This weeds out riskier borrowers. And unlike the last go-around, when builders were erecting residences at what seemed like a break-neck pace, the under-building of the last few years has exacerbated the housing shortage,” according to Realtor.com.“Even if the economy doesn’t improve by next year and a vast swath of Americans remain unemployed, we are not likely to see the flood of foreclosures that characterized the housing crash, partly because government protections could be extended.” The report goes on to evaluate the potential future of over overvalued markets as well as potential increases in cheaper markets.   Previous: A Closer Look at Latest Forbearance Report Next: Landlords Fight Foreclosure Ban Related Articles Could Home Price Surge Lead to Another Crash? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Christina Hughes Babbcenter_img Share Save Tagged with: Forbearance Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago 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. Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Forbearance 2020-08-24 Christina Hughes Babblast_img read more

Malouda, Gallas, Bentley released

first_img Defender Gallas leaves White Hart Lane on a free transfer after three seasons since joining Spurs from north London rivals Arsenal, and midfielder Bentley, who spent time on loan in Russia with FK Rostov and at former side Blackburn last season, is another set to move on. Santa Cruz, 31, was loaned out to Malaga last season, where he played under Manuel Pellegrini, who is reported to be in line to take over at Manchester City. Ivory Coast defender Kolo Toure, meanwhile, will not feature in City’s future plans for their new manager and his move to Liverpool at the end of his contract was confirmed last month. Full-back Wayne Bridge is to join Reading. Schwarzer, who had been linked with a switch to Arsenal in the past, turned down the offer of a new deal at Fulham, and so will move on. Arsenal announced earlier this week that Andrey Arshavin, Denilson and Sebastien Squillaci would all be leaving this summer, which was confirmed on the Premier League list. Israel midfielder Yossi Benayoun and Portugal defender Paulo Ferreira have both been released by Chelsea. Long-throw specialist Rory Delap departs Stoke along with retiring ex-England striker Michael Owen, Jermaine Pennant, Matthew Upson and Dean Whitehead. Relegated Wigan, QPR and Reading, meanwhile, all announced the expected several free transfers as they prepare for life in the npower Championship. France international Malouda, 32, last played for Chelsea in their 2012 Champions League final victory over Bayern Munich, but has since been frozen out of the first-team picture and so saw out the remaining season of his £80,000-a-week contract training with the under-21s. Former club Lyon, who sold him to Chelsea for £13million in 2007, looks the most likely destination. Chelsea winger Florent Malouda, Tottenham duo William Gallas and David Bentley, Manchester City forward Roque Santa Cruz and Fulham goalkeeper Mark Schwarzer all featured on the Premier League free transfer list, which was released on Friday.center_img Press Associationlast_img read more

KCCA ends Vipers’ unbeaten run

first_imgKCCA celebrate Muzamiru’s goal. It was a cracker from the shirt 10. He hit that so hard that it couldn’t be saved. PHOTO KCCA MEDIA KCCA 1 Vipers SC 0Kampala, Uganda | THE INDEPENDENT | An early Muzamiru Mutyaba goal proved to be the difference as Startimes Uganda Premier League champions KCCA ended Vipers’ unbeaten run at Lugogo today.A fine run on the wing by Ssekisambo, had the ball laid for Mutyaba to thump in his first goal of the season on 31 minutes.The result breathes life into KCCA’s bid for a 14th title, and casts doubts about The Venoms’ ability to break this hold by the Lugogo teamVipers remain top of the table with 33 points from 14 games, but KCCA could top the table at the end of the first round if they win the rest of their games.Mike Mutebi’s boys remain in 5th with 22, from only 10 games. 14POLICE FC133281323-78 4ONDUPARAKA FC147252011923 2BUL FC148422091128 9URA FC11353109114 3SC VILLA136611871124 Coach Mike Mutebi’s side played without skipper Charles Lukwago, Allan Okello and Nicholas Kasozi. They are away with Uganda Cranes on National duty as they prepare for their second AFCON qualifier game against Malawi on Sunday at Mandela National Stadium, Namboole,Pre-match, Mutebi had vowed to win the game. “We have a responsibility to win this game. We are playing a team that has centered their case as an emerging force in Ugandan football. We want to front our case as defending Champions of the league,” he had said.He was spot on. STAR TIMES UGANDA PREMIER LEAGUE | 2019-20 13BRIGHT STARS FC141761017-710 ******SOURCE: KCCA website 7BUSOGA UNITED145271716117center_img 8KYETUME FC13517918-916 5KCCA FC10712179822 10EXPRESS FC134271822-414 1VIPERS SC1410312071333 12MBARARA CITY133461418-413 11TOORO UNITED FC14428922-1314 6MAROONS FC125341416-218 PosClubPWDLFAGDPts Share on: WhatsApplast_img read more

We Will Never Forget: Donor to Replace Stolen 9/11 Plaques

first_imgPolice continue to investigate who stole plaques from the county’s 9/11 Memorial. Meanwhile, a donor has stepped forward to replace them.Photo by Allison Perrine News of the theft brought people “out of the woodwork” to voice their concerns, said Tom Fobes, superintendent of park operations in Monmouth County. “It was really something, I can say that. So, it really, to me, shows ushow special it is, some of thethings that we do and howimportant it is to the peoplewe do it for,” he said. “It’s aspecial place and people tooknotice as to what happened.” Four stones with cast bronze plaques sit on the ground along the timeline walkway that lays out the chronological events of that morning. In September, three of the four plaques were stolen in the night, ripped away from the stones that held them. The theft stung a community which has vowed to never forget the 9/11 victims and heroes. “We are a 100-year-old firm and have done charitable contributions for many years,” said Baum of the three-generation family business based in Freehold. When an employee who lives in the Atlantic Highlands area informed him about the vandalism, he said he wanted to replace the plaques. At 266 feet, the overlook is the highest point on the Atlantic seaboard, excluding islands, from Maine to the Yucatan. But now a donor has stepped forward to make things right again. Richard Baum of the W&E Baum Bronze Tablet Corp. said he will donate three new plaques replicating the ones that were taken. He could not say what it might cost, but he expects the plaques to be finished in six weeks. center_img Every Sept. 11 since the attacks in 2001 the county has held a memorial ser vice at Mount Mitchill. “We put a lot of time and effort into this event, we’re very proud of this event,” said Fobes. The new ones will bereplicas of the stolen onesand will be made from castbronze like the originals.Baum said the company isdevising special measuresto prevent future vandalismlike creating special gluesthat would make the plaquesharder to remove. The oldplaques were attached to thestones with an adhesive andhardware. The stones are just one par t of the special memorial, located at 460 Ocean Blvd. The stones and the timeline walkway lead to a large eagle sculpture that sits on dark marble etched with the names, ages and hometowns of the Monmouth County residents who died Sept. 11. The eagle sculpture holds a beam from one of the fallen towers. A scenic view of the New York City skyline draws contemplation. There is a quiet, solemn air at the site. ATLANTIC HIGHLANDS – Shortly after the 18th anniversary of the Sept. 11, 2001 terrorist attacks, the Monmouth County 9/11 Memorial at Mount Mitchill in Atlantic Highlands was vandalized. Police are continuing to investigate the incident.last_img read more

CSA red cards Quebec Federation for not allowing wearing of turbans/patkas/keski by players

first_imgIt’s a red card and it’s going to the Quebec Soccer Federation for their non-compliance to the directive of allowing the wearing of turbans/patkas/keski by soccer players.In a bold, but surprising move, the Canadian Soccer Association Board of Directors on Monday 10 June 2013 moved to immediately suspend the Quebec Soccer Federation for its decision to not allow the wearing of turbans/patkas/keski by soccer players.“The Canadian Soccer Association has requested on June 6 that the Quebec Soccer Federation reverse its position on turbans/patkas/keski with no resolution,” said Victor Montagliani, President of the Canadian Soccer Association, following the Board of Directors meeting. “The Quebec Soccer Federation’s inaction has forced us to take measures in order to ensure soccer remains accessible to the largest number of Canadians.”The suspension will be removed once the CSA receives demonstration that the Quebec Federation has lifted the ban and applies satisfactorily the Canadian Soccer Association’s policy in the matter.How the suspension impacts Quebec players is yet to be determined. However, according to Canadian Soccer News, the impact could be felt in a variety of ways unless the situation is resolved soon.The website said it could result in Quebec all-star teams being banned from playing outside the province, and even the cancellation of games within Quebec that involve a nationally certified referee.The Quebec Federation said the reason for its decision is due to safety.The Federation said its concerned about safety and points out that the rules of the world governing body, FIFA, don’t specifically allow turbans.Critics of the Quebec decision point out that FIFA’s rules don’t explicitly ban turbans, either.last_img read more

FIRST EVER ‘FILLIES ONLY’ HANDICAPPING CONTEST TO BE STAGED AT SANTA ANITA ON KENTUCKY OAKS DAY, FRIDAY, MAY 1

first_img–30–                 RULES & PROVISIONS:                –A $250.00 “buy in” is required ($200 live bankroll and $50 entry fee towards prizes)                –Each entry includes a hosted lunch in Santa Anita’s Gallop Out area on Kentucky Oaks Day                –A maximum of two entries per person will be allowed                –There will be a minimum of five races to bet, comprised of four Santa Anita races and the Kentucky Oaks at Churchill Downs                –Wagers to be restricted to win, place, show and exactas                In-person contest registration and payment must be made in Santa Anita’s Gallop Out area starting at 10:30 a.m. on May 1. Contestants may also register in advance online at santaanita.com, or by contacting Jodie Vella Gregory at (626) 574-6389, or at [email protected] ARCADIA, Calif. (April 24, 2015)–Santa Anita Park will offer a first-ever “Fillies Only” Handicapping Contest, featuring a total prize pool of $5,000, on Kentucky Oaks Day, Friday, May 1. The Grade I Kentucky Oaks, which traditionally showcases the best 3-year-old fillies at a mile and one eighth the day before the Kentucky Derby, will be run for the 141st time and will be the centerpiece of the “Fillies Only” contest at Santa Anita, which is restricted to women who are 18 and up.Sponsored by Christina A. Moore Millinery and The Langham, Pasadena, the “Fillies Only” Handicapping Contest will be comprised of the following:–1st Place: $3,000, and a Christina A. Moore Millinery Prize                –2nd Place: $1,500 and a Langham, Pasadena Prize                –3rd Place: $500.00 and $200.00 Champions! Gifts & Apparel Gift Certificatecenter_img SPONSORED BY CHRISTINA A. MOORE MILLINERY & THE LANGHAM, PASADENA, LIVE MONEY TOURNEY TO OFFER $5,000 TOTAL PRIZE POOL TO WOMEN 18 & UPlast_img read more

PICTURE SPECIAL: MORE OF YOUR SUPERB PICTURES AS THE ANGLO CELT COMES HOME TO DONEGAL

first_imgANGLO CELT BACK HOME IN DONEGALIT WAS a superb weekend for Donegal as Jim McGuinness and Michael Murphy led the county to a two-in-a-row Ulster success with a superb win over Down in Clones.Thanks to all our readers from every corner of Donegal for your pictures.Here’s a few more for you to enjoy. PADDY POSES FOR A PIC WITH A YOUNG FAN IN DONEGAL TOWNDONEGAL GIRLS ON TOUR – BUT WHO’S THE GUY IN THE MIDDLE?ISN’T THAT LAST YEAR’S HAT? STILL VERY FASHIONABLE!CORA VOTES CLONES NUMBER 1 HOME ON THE MCGUINNESS BUS – DOES JIM DRIVE THAT TOO? THE PRIDE AND THE JOY …MEANWHILE AT THE ORCHARD BAR IN LK  PICTURE SPECIAL: MORE OF YOUR SUPERB PICTURES AS THE ANGLO CELT COMES HOME TO DONEGAL was last modified: July 23rd, 2012 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:PICTURE SPECIAL: MORE OF YOUR SUPERB PICTURES FROM AN HISTORIC WEEKEND FOR DONEGALlast_img read more

Buncrana Chamber of Commerce to host information evening

first_imgExisting and new members of the Buncrana Chamber of Commerce have been invited to an opening information evening tomorrow, Monday, July 1. The Chamber of Commerce is keen to cooperate with the public and listen to what they would like to see happening over the next several years.The event will take place at the Lake of Shadows Hotel at 7pm. A spokesperson for Buncrana Chamber of Commerce said: “Buncrana Chamber of Commerce wants to take every opportunity to positively represent their membership and to ensure that they are getting the best from their local chamber.“We’d like to invite existing members and potential new members to an open information evening at the Lake of Shadows Hotel on Monday, July 1 at 7pm.”Buncrana Chamber of Commerce to host information evening was last modified: June 30th, 2019 by Shaun KeenanShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

Alex set to join PSG – report

first_imgChelsea defender Alex is set to snub QPR and join former Blues boss Carlo Ancelotti at Paris St-Germain, according to the Daily Mirror.The transfer-listed centre-back has been holding talks with R’s manager Mark Hughes but is believed to favour a £4m move to the French club, who are also being linked with Frank Lampard.The Daily Mail suggest QPR could order Anton Ferdinand to shake hands with John Terry before Saturday’s FA Cup tie against Chelsea.The Mail also say Chelsea owner Roman Abramovich remains determined to drive through a move for Shakhtar Donetsk winger Willian before the transfer deadline. Follow West London Sport on TwitterFind us on Facebooklast_img

Half-time: QPR 0 Everton 1

first_imgSeamus Coleman’s goal means QPR are behind at Loftus Road despite a lethargic start by the visitors.Relegation-threatened Rangers, one off the bottom and in desperate need of a win, welcomed captain Joey Barton back after suspension and Maurico Isla was cleared to return despite knee trouble.And they made the early running, with Everton looking jaded following their midweek Europa League exit against Dynamo Kiev in Ukraine.However, a lapse by Sandro in midfield allowed the Merseysiders to counter-attack and score on 18 minutes.Leon Osman laid the ball into Coleman’s path and the right-back fired beyond keeper Rob Green and in off the far post.Bobby Zamora had a chance to equalise but headed wide from Charlie Austin’s cross. QPR: Green; Isla, Onuoha, Caulker, Yun; Phillips, Barton, Sandro, Hoilett; Austin, Zamora.Subs: McCarthy, Hill, Ferdinand, Kranjcar, Henry, Vargas, Taarabt.Follow West London Sport on TwitterFind us on Facebooklast_img read more