A recent report by the U.S. Department of Commerce states a decline in housing starts due to the slowdown in the apartment and multi-family sector. However there was an increase in permits, which is an indicator of future starts, and also single family housing starts currently underway.
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Budget cutting in Congress could lead to the elimination of the low income housing tax credit. By purchasing and holding tens of thousands of existing homes, investors have created a demand where little had existed and drastically reduced the inventory of homes for sale, which has helped boost prices over the past six months. The investors’ goal is to buy and rent out a large portfolio of homes and collect monthly [...] Home prices are falling faster in the nation’s largest cities, according to the latest report, and a record number of foreclosures are expected to push prices down further through next year. [...] Many middle of the road cities are doing better in the down economy. The fact is, they never really boomed so they haven’t really gone bust. |
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