Today’s News Synopsis:
The Mortgage Bankers Association reported a 3.3% increase in mortgage applications from last week as a result of more borrowers frantically trying to get in before rates get higher. The generation that is seeing more and more people returning to buying homes is Generation X. Fewer homes are becoming affordable in the Toronto real estate market.
In The News:
Realtor.com – “Guess Which Generation Is Making the Biggest Comeback in Real Estate” (3-8-2017)
“Doc Martens are back in fashion, this time on the shelves at Nordstrom. Hollywood starlets sport ’90s choker necklaces and Nirvana T-shirts.”
CNBC – “Borrowers rush to beat rising rates, pushing mortgage volume 3.3% higher” (3-8-2017)
“As interest rates surged last week and home prices continue to balloon at a breakneck pace, borrowers are wasting no time applying for home loans — they are hoping to get in before affordability gets even worse.”
Bloomberg – “Desperation Sets in for House Hunters in Toronto’s Red-Hot Market” (3-8-2017)
“Speak to prospective buyers in Toronto, where home prices surged the most in almost 30 years in January from a year earlier, and supply is tighter than Manhattan, and you hear the same lament: there’s nothing remotely affordable to buy.”
TeslaRati – “Tesla eyes expansion into Russian market, seeking real estate for Store, Service Center and Superchargers” (3-8-2017)
“Tesla is reportedly in active process of seeking real estate in Moscow and St. Petersburg for upcoming showrooms and Tesla service centers geared towards the Russian market. Likely sites include the “Vremena Goda” business center in Moscow and the “Atrium” in the city center.”
DS News – “D.C. Circuit Rejects Intervention in CFPB Case” (3-8-2017)
“On Tuesday, the D.C. circuit rejected bids from both supporters and opponents of the Consumer Financial Protection Bureau (CFPB) in the trial of PHH Corp. vs. CFPB, Law360 reports, which has declared its leadership system unconstitutional, as the bureau’s single-director structure is in violation of the Constitution’s separation of powers clause.”
Finance & Commerce – “Big changes predicted for commercial real estate” (3-8-2017)
“A consultant who predicts a 2018 end to the current commercial real estate cycle says the industry will see fewer office and retail property sales, but more multifamily sales as millennials eschew homeownership.”
Hard Money Loan Closed
Riverside, California hard money loan closed. Real estate investor received loan for $246,000 on this single family property.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor at NORCALREIA TONIGHT.
Aaron Norris will be presenting 2 Major Trends For Marketing Dominance in 2017 with OCREIA on Thursday, March 9.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with LA South REIA on Monday, April 10.
Image copyright source: www.flickr.com/photos/eklektikos
Looking Back:
Consumer confidence regarding home prices showed a decline by 1.2% as more dido not see prices increase in the follwoing year. New research titled Sources of Commercial and Multifamily Mortgage Financing in 2016 was released by the MBA detailing the future of lending and how the market would have an effect on it. The CFPB was allowing more people to offer them complaints in regards to peer-to-peer lenders online.
For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.
California Real Estate Investing is a post from: The Norris Group
