October 17th, 2013

Economists See Continuing Real Estate Growth

Posted by at 4:05 pm

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Expectations for housing and commercial real estate are high among real estate experts. The latest forecast from economists and analysts from nearly 40 of the country’s leading real estate organizations projects continued improvement, not just in residential real estate, but also shows improved confidence about commercial mortgage backed securities and the industrial sectors. Among the key findings in the three-year forecast: Forecasters projecting a strong ending to 2013 and continued growth through 2015. Single family housing starts, which were 535,000 unites, are expected to reach 675,000 units in 2013, and grow to 800,000 units in 2014 and 900,000 units in 2015. Unemployment should be effected in this growth. It is expected that 2.2 million jobs will be created in 2013, followed by 2.4 million in 2014 and 2.6 million in 2015, reducing the unemployment rate by .9%. Vacancy rates are...
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October 1st, 2013

Government Will Continue Lending, But Problems Are Present

Posted by at 9:29 pm

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Government Will Lend During Shutdown, But Snags May Still Derail Closings The shutdown of the federal government will not halt government lending, as many believed would happen. The Federal Housing Administration and the U.S. Department of Veterans Affairs have announced that they will still process loans, though with a much smaller staff. Here are some of the details regarding federal housing loans during this time: Approximately¬†15 percent of US mortgages are backed by the FDA. Multifamily project will still be able to close. New construction loans cannot be issued at this time. Single-family home loans, including those made through FHA-staffed Home-ownership Centers, will be endorsed. FHA Loans will be serviced. Ginnie May will continue to perform its secondary market functions. Only 68 of the 2,972 HUD’s Office of Housing employees, which includes the FHA, will be on staff during the...
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