Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Print This Post The Best Markets For Residential Property Investors 2 days ago About Author: Radhika Ojha The Big Deal About a Slowdown November 12, 2018 1,270 Views Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Previous: If Maxine Waters Takes Over the House … Next: Towards a New Normal Construction Economy Home Sales Homes HOUSING Investment Recession Slowdown starts 2018-11-12 Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / The Big Deal About a Slowdown Demand Propels Home Prices Upward 2 days ago Related Articles Tagged with: Construction Economy Home Sales Homes HOUSING Investment Recession Slowdown starts Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News Investments in real estate have declined for the third consecutive quarter, according to the latest minutes of the Federal Open Market Committee (FOMC). According to the minutes, housing starts were below their Q2 rates, while the issuance of building permits declined over July and August, suggesting that “starts might move lower in the coming months. Sales of both new and existing homes declined in July with existing home sales remaining flat in August.”Yet, the Fed remains optimistic on its economic outlook and has projected that the real GDP would increase in the second half of the year at “a rate that was just a little slower than in the first half of the year.”The minutes projected that over the 2018-20 period, the output in the economy would rise at a rate above the Fed’s estimate and then decline to a slower pace in 2021.While the Fed remained silent of the impact on housing, David Choi and David Mericle of Goldman Sachs recently told Gavyn Davies of Financial Times that housing was by far the most interest rate sensitive sector and had long been seen as the “textbook transmission mechanism of monetary policy.” They said that a meaningful slowdown in residential investment was, in fact, a key feature of a successful tightening cycle.Tendayi Kapfidze, Chief Economist at LendingTree agreed saying that he did not see the housing market being a risk to the broader economy. Pointing to the recent softening of home prices too, he said that this was needed as it was “unsustainable with prices outstripping wage increases since 2012. “As there are fewer buyers at each price point, the appropriate market response is a slowdown in sales and an eventual easing in price momentum,” Kapfidze said.Even with rising mortgage rates, which rose to their highest in the past seven years last week and are one of the prime reasons for the slowdown in national home price growth, the housing market is not facing recession any time soon. “Think of it as a pause, rather than a slowdown,” advised Sam Khater, Chief Economist, Freddie Mac in an upcoming article in DS News’ sister magazine MReport. “As long as the economy remains hot, housing should remain active.” The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Subscribe
ABC News(NEW YORK) — There are more than 120 large wildfires burning in the Unites States Thursday morning, most of them in the West and Alaska.In the West alone, 48 large fires are burning with additional small brush fires popping up in hot spots. The Museum Fire, near Flagstaff, Arizona, is 1,887 acres and only 12% contained, but an evacuation order has been lifted due to the higher humidity, lower temperatures and monsoon rain.Hot weather, with locally gusty winds, sparked a few brush fires from the San Francisco Bay area down to Los Angeles on Wednesday.Several record highs were broken and tied in Southern California, including one in Long Beach, where the temperature reached a record-tying high of 99 degrees.Looking forward, monsoon storms are still forecast for Thursday in the Southwest and southern Rockies from California to Colorado, where flash flood watches have been issued.The heat will increase in the coming days, especially in California where numerous heat watches, warnings and advisories have been issued.Gusty winds up to 40 mph are expected in Montana, where red flag warnings have been posted.The heat is on this weekend from Sacramento to Las Vegas, and even into Phoenix, where some cities could see high temperatures a little over 110.Desert temperatures could even reach into the 120s in Southern California.Copyright © 2019, ABC Radio. All rights reserved.