Everyone knows the supply of new homes in the Bay Area is falling far short of job and population growth, but the number of existing homes being put up for sale is also near record lows in many areas. [...]
“The move-up market is pretty much frozen,” said Matt Fuller, an agent with Zephyr. “Even if you can do great on the sale of your property, you are terrified to enter the market as a buyer.” [...]
Inventory is also shrinking because post-foreclosure sales have dried up. — sfchronicle.com
While some remain cynical about homeownership, the U.S.'s foreign-born population still regards it as a symbol of attaining the American Dream. [...]
Last year, immigrant households made up 11.2 percent of owner-occupied housing according to the JCHS—that’s up from only 6.8 percent in 1994. — theatlantic.com
“It’s not rare for us to go and try to make sure that no one buys the house of someone who’s facing foreclosure,” says Rob Call, an organizer for Occupy Our Homes Atlanta (OOHA). In Georgia, houses are publicly auctioned every first Tuesday of the month on each county courthouse’s steps. "[...] these auctions were mostly vacant. No one was really trying to go after these homes, but then they were [suddenly] swamped with people bidding up houses with quick access to sizable cashier’s checks.” — nextcity.org
One reason for weakness: many young people, saddled with student loan debt, elevated unemployment and less-than-perfect credit scores, are staying out of the market. — NPR
New research from Harvard's Joint Center for Housing Studies, focuses in on the role of millennial generation in driving demand and shaping recovery. As Gregory Walker noted recently, in broad terms, looking at US economy, it is clear we're not really 'there' yet. Remember, the last...
All-cash deals hit a record 43% of home sales during the first three months of 2014, according to RealtyTrac. That's up from 19% a year earlier and the highest level reported since RealtyTrac began tracking the deals in early 2011.
The jump is due to two main factors: strict lending standards that make it difficult to get a mortgage and intense buyer competition. — CNNMoney
Cities like Yingkou in China’s northeast rust belt were among the earliest cities in the country to be overbuilt. [...] Yingkou, along with other cities, sold vast tracts of lands to developers to build apartments for the workers who – they hoped – would populate the new factories, malls and industrial parks to come. [...]
But investments have been slow to materialize, and newcomers are scarce in Yingkou, a city of 2.4 million with a population that hasn’t grown much in the past few years. — blogs.wsj.com
Amelia conducted an interview with John Szot answering questions on Architecture and the Unspeakable, a triptych of short, magnificently animated films.News Professor Andrew Ross, penned an editorial High Culture and Hard Labor regarding Guggenheim Museum’s Saadiyat Island project. Later...
As for what she wants visitors to get out of the exhibit, Koumoundouros just hopes it will help them think about -- even question -- how much our economy is based on the housing market.
'Ownership and consumption are linked to how much our economy is consumed based," she argues. "[This view of housing] is so specifically American. And I love digging that out, and I think questioning it is part of maybe a shift.' — Marketplace.org
The phrase "a place to call home" rings loud and clear in the "Dream House Resource Center" exhibit by artist Olga Koumoundouros currently at the Hammer Museum in Los Angeles until August 18. Her exhibit focuses on the commodification of the home in America through the context of America's...
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