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Celebrity real estate agent Mauricio Umansky warns ‘perfect storm’ of housing unaffordability brewing
Real estate agent Mauricio Umansky says high mortgage rates, high prices and low supply are creating difficulties for homebuyers on ‘The Claman Countdown.’ Celebrity real estate agent Mauricio Umansky is sounding the alarm over the “perfect storm of total unaffordability” brewing in the housing market. Mauricio Umansky, The Agency founder and CEO, reacted to the state of the housing market after the 30-year fixed mortgage rate hit its highest level since early December. “We’ve got super high interest rates above 7%. Mortgage applications are as low as they’ve been since 1995. And then we’ve got no supply,” he said during his appearance on “The Claman Countdown” Wednesday. Umansky said we…
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A crippled housing market has left Americans stranded in 40-year-old properties and unable to afford most home improvements. Now they are turning to ‘home harde…
A home should be a sanctuary, a safe place to feel sheltered against the chaos and threats of the outside world. But with the recent onslaught of record-breaking natural disasters, many Americans are feeling increasingly vulnerable. In the past year alone, we’ve endured the hottest summer on record, devastating wildfires in Canada and Hawaii, flooding in Vermont and New York City, and hurricanes in both Los Angeles and Maine. The situation is especially problematic considering American homes aren’t getting any younger. In fact, 38% of homes in the U.S. were built before 1970–and the median age of homes in America is 40 years. With aging roofs, insufficient drainage, and outdated systems, many homes are in…
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Harsh warning on US real estate market issued: ‘America needs more housing’
Certified affiliate real estate broker Brian Lewis breaks down the point out of the U.S. housing current market as household potential buyers really feel the pain of sky-significant property finance loan charges. A person genuine estate professional issued a warning to Americans that the U.S. is suffering from a housing stock crisis that could further more destruction the sector. “Here’s the issue about The united states, we really don’t have inventory. Guys, it is limited out there,” serious estate broker Brian Lewis claimed on “The Claman Countdown” Thursday. “In New York Town, it truly is tight. In Richmond, Virginia, it is really restricted. In some regions of Chicago, it is…
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Pueblo real estate businesses hit hard by housing market slowdown
Pueblo’s real estate market is continuing to slow down, and the fallout is impacting businesses industrywide. It’s not just Realtors feeling the impacts — it’s home builders, mortgage lenders and title companies too. “Overall, the housing slowdown is having a ripple effect across the industry as we see more title companies, mortgage companies and builders reducing staff,” said Dave Anderson, Pueblo Association of Realtors communications chair. “There’s layoffs coming, I am sure,” said Randy Nobiensky, self-employed contractor with RH Builders who is seeing the impact on builders and Realtors. “We are all connected, all in the same boat, and with the interest rates where they are. People are not buying,…
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Housing turnover will drop to lowest rate since the 80s, economist projects
UBS U.S. homebuilders and building products analyst John Lovallo discusses whether housing has entered a recession after home search activity on Google plunged in November on ‘Varney & Co.’ Home sale activity next year may reach the lowest point since the early 1980s as households buying or selling real estate retreat from the market, predicts Redfin deputy chief economist Taylor Marr. Marr projected that only 32 out of 1,000 households will sell their home in 2023. Affordability in the housing market is likely to “remain a pretty strong constraint” next year even if mortgage rates ease, Marr said. “Mortgage interest rates have risen rapidly this year … raising the monthly…
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Lowes Stock Is On The Rise After Earnings, Despite Housing Market Dip
| Jeffrey Greenberg/Universal Images Group via Getty Images Key Takeaways As the housing market slows, more homeowners are choosing to improve their current homes. Online sales and purchases of $500 or more continue to increase for Lowe’s. The company is working to improve efficiency and market penetration to help grow its business. Lowe’s has been Home Depot’s little, perhaps understated, brother in the home improvement marketplace for some time. While management has tried to replace its rival as the top retailer in the space, it has consistently come up short. This holiday season, there is renewed hope that Lowe’s can overcome its standing as the second-largest home improvement retailer. Here…
