Millions Of People Are About To Lose An Economic Lifeline And Be Forced From Their Homes

December 26 is going to be a very harsh day for millions of Americans. After celebrating Christmas many of them they are going to lose the economic lifeline of Pandemic unemployment assistance, which could lead to millions of them becoming homeless. While the stock markets make new highs, this does nothing for the people who have lost their jobs and can’t make next month’s rent or mortgage payment.

13.65 million people are being helped

In last week’s unemployment claims report the number of people on regular state unemployment benefits fell from 6.45 million to 6.04 million, a drop of 414,000. However, Gregory Daco, Oxford Economics Chief Economist,

Read More

Strong demand for new homes signals U.S. economic strength, economists say

logo, company name

© Marketwatch


Video: Slowing labor market recovery weighs on stocks (Reuters)

Slowing labor market recovery weighs on stocks



Sales of newly built single-family homes came in at an annual rate of 999,000 in October, the government said Wednesday, just a tick below the September rate, but a whopping 41.5% increase from the same month last year, highlighting housing’s role as a bulwark for the U.S. economy. “Today’s report from the Census Bureau suggested that demand for new homes in October continued to be strong,” Doug Duncan, chief economist at Fannie Mae, said in an email. “The monthly sales pace is now reported to have been essentially flat for the three months at an elevated level of about 1 million annualized units, a rate not seen since 2006.” Michelle Mayer, U.S. economist at Bank of America said in a research note that housing broadly

Read More

U.S. Foreclosure Filings on the Rise as COVID Remains an Economic Threat

According to RealtyTrac’s October 2020 U.S. Foreclosure Market Report, there were a total of 11,673 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in October 2020, up 20 percent from a month ago but down 79 percent from a year ago.

Rick Sharga

“It’s a little surprising to see foreclosure activity increasing in spite of the various foreclosure moratoria that are in place,” said Rick Sharga, executive vice president of RealtyTrac, an ATTOM Data Solutions company. “It’s likely that many of these properties were already in the early stages of default prior to the pandemic, or are vacant and abandoned, which makes them candidates for expedited foreclosure actions.”

South Carolina, Nebraska and Alabama post highest state foreclosure rates

Nationwide one in every 11,683 housing units had a foreclosure filing in October 2020. States with the highest foreclosure rates were South Carolina (one in

Read More

How Real Estate Investors Could Profit Despite Today’s Economic Uncertainty

Rob Johnson is CRO of Realized, an investment property wealth management platform helping investors create custom investment property plans.

Uncertainty seems to be the “new normal,” when it comes to the ways in which people are living, working and investing. But despite rattled markets and short-term economic uncertainty, real estate investments can help manage your portfolio risk through diversification, while aiming to produce returns that can be enhanced with tax benefits.

First of all, while the pandemic is global, real estate is local. Unlike other investment-grade assets, real estate value is based on the unique characteristics of the local community and marketplace.

Second, real estate investment trusts (REITs) are trading at lower valuations, making them a potentially lucrative buy during the current downturn. Furthermore, vacation rental properties are selling at steep discounts, as business and leisure travel have declined.

With these and other factors, it’s understandable that today’s

Read More

The best real-estate markets in America, based on economic strength

  • If you’re interested in home buying, you should understand the housing market first. 
  • Home prices have been rising on average throughout the pandemic, even though supply and demand vary significantly nationwide based on location. 
  • Personal finance website WalletHub studied and ranked the best markets to buy a home in the US, where Boise topped the list, followed by Seattle.
  • Visit Business Insider’s homepage for more stories.

Whether you’re looking to invest or to find a new home, understanding the housing market is important before you purchase a property. 

And this year has been the right time to buy for many Americans, as interest rates have have hit record lows in recent months as a result of the coronavirus pandemic.

Despite opportunity for some, home prices have been rising throughout the pandemic on average, even though supply and demand varies significantly nationwide based on location. 

To determine the best real-estate markets

Read More