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In today’s news
Investing in residential real estate, especially rentals, could be riskier business in some states than others, especially in places with particularly high unemployment and lower prospects for recovery. Think hospitality industry hotspots like Nevada, Hawaii and Florida for starters. A new blog from the National Association of Home Builders explains why.
Pending Home Sales Plunge But NAR Sees Light in the Dark
Pending home sales slumped by more than 20% in April, but the National Association of Realtors sees positive signs all around, including growing numbers of listings and this: the trade group said today a new survey shows 65% of those who attended an open house in person last year would do so again now “without hesitation”.
Estimates vary about how many mortgages are actually in forbearance right now, but there are millions (including about 10% of VA and FHA loans), and evidence is emerging that many homeowners may not need to be. That includes a LendingTree survey that found only 5% said they couldn’t pay their mortgage otherwise. And 72% said they feel “a bit guilty” about receiving the break.
Market Moves and Movers:
Rich Uncles' NNN REIT, the private real estate investment trust (REIT) funded via online crowdfunding, is feeling the impact of the coronavirus pandemic on its value and cash flows.
Capital-intensive downtown urban core offices are taking a major hit during the current economic cycle, which has many looking to more affordable markets: suburbs.
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