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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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Hurricane Ian was a powerful storm. Real estate developers made it a catastrophe.
A century ago, the coast of southwest Florida was a maze of swamps and shoals, prone to frequent flooding and almost impossible to navigate by boat. These days, the region is home to more than 2 million people, and over the past decade it has ranked as one of the fastest-growing parts of the country. Many of those new homes sit mere feet from the ocean, surrounded by canals that flow to the Gulf of Mexico. When Hurricane Ian struck the region on Wednesday, its 150-mile-per-hour winds and extreme storm surge smashed hundreds of buildings to bits, flooded houses, and tossed around boats and mobile homes. Cities including Fort Myers…
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Housing industry getting hit by ‘perfect storm,’ billionaire real estate developer warns
Billionaire real estate developer Jay Bloom says the housing ‘boom’ is caused by supply chain interruptions, low-interest rates and ‘foreclosure moratorium’ due to the pandemic. Billionaire real estate developer Jay Bloom warned consumers Thursday the housing industry is getting hit by the “perfect storm.” “We’re in the middle of a real estate boom like we haven’t seen in the past,” Bloom told “Cavuto: Coast to Coast.” He said several different factors impact homebuilding in the red-hot housing market – from supply chain interruptions to low-interest rates and the “foreclosure moratorium” during the pandemic. US RENT PRICES REACH RECORD HIGHS AS BUYERS PUSHED OUT OF MARKET “A $12 piece of lumber…
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Storm Watch 2022: Time to Stock Up on Home-Improvement Shares?
Accuweather delivered its forecast for the 2022 storm season in April, and the season looks to be a whopper. At least 20 major storms are predicted, marking the seventh year in a row of above-average Atlantic hurricane activity. Home-improvement giants Home Depot ( HD -3.30% ) and Lowe’s ( LOW -3.89% ) are on track for another banner season following gains over the last five years. Home-improvement retailers continue to see brisk business from homeowners and professional builders alike. These stocks seem poised for a repeat performance of recent gains – which could be bigger than ever this year – and position investors for long-term success in this and storm…
