Investors and all-cash buyers represent a significant share of the housing market. But as home prices rise, what happens when these buyers vanish from the market — who will step up?
____________________________________________________________________________________
An improving-markets index fell to 258 metros in May from 273 in April, but continues to reflect metros from every state as well as the District of Columbia.
____________________________________________________________________________________
Mortgage giants Fannie Mae and Freddie Mac will begin next year to purchase only loans that meet new “qualified mortgage” requirements, the Federal Housing Finance Agency announced Monday.
____________________________________________________________________________________
“Mortgage quality is improving rapidly,” says one economist. “Once we’re able to work through this last bulge of foreclosed property … mortgage credit quality is going to look absolutely beautiful.”
____________________________________________________________________________________
New-home construction is expected to return to normal levels by 2016, and with it a construction job boom is forecast to make up for more than a million jobs that had been lost during the sector’s slowdown.
____________________________________________________________________________________
Empty nesters and downsizers may find that retirement accounts and credit ratings don’t satisfy lenders.
_____________________________________________________________________________________