Fannie and Freddie extend moratoriums, no easy fix for mall malaise, housing bubble may fizzle not pop, sight-unseen renting tips, and pay attention to schools.
In Today’s News
FHFA Extends Foreclosures and REO Eviction Moratoriums
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will extend the moratoriums on single-family foreclosures and real estate-owned (REO) evictions until at least Dec. 31, 2020.
Why it matters: Those moratoriums apply to many millions of homes and with delinquencies on the rise and defaults likely to follow, this gives the market, and the human people behind those statistics, some breathing room to get their ends closer to meeting if they can.
25 Percent of U.S. Malls Set To Shut Down Within 5 Years: What Comes Next
This report from CNBC throws some shade on the idea that Amazon and other big distributors can cruise in and take over all that shuttered space. It also includes some downer news on apartment, office, and retail development.
Why it matters: Hey, industrial development is expected to rise. So, there’s some good news there. REIT investors might especially want to keep up here, since their investments can move around on market moods, too, not just on the performance of their underlying assets.
Record High Home Prices: Is the Bubble About to Burst?
Driven by low supply and even lower interest rates, buyer demand has defied the pandemic and driven house prices to new heights across many parts of the country. Is it another bubble about to burst?
Why it matters: This assessment by economists at realtor.com is that unlike the Great Recession, price hikes are more likely to slow down or flatten and that the effect will be more localized then a general collapse. This is more Main Street than Wall Street, in that sense. Good information to have when assessing your local market for that next buy.
Today on Millionacres
72% of Renters Would Lease a Property Sight Unseen: How to Cater to Them
Millionacres’ Aly Yale shares some timely tactics for attracting Windows shoppers to your available rental unit.
Why it matters: The coronavirus has made it significantly harder to fill open units, especially among those who don’t want to risk exposure by shopping in person. Here’s some help.
Buying an Investment Property? Vet its School District First
It’s elementary: Along with the local economy and the shape of the property itself, check out the local schools before committing investment bucks to a flip.
Why it matters: School ratings and property values tend to go hand in hand, and as Millionacres’ Maurie Backman points out, that’s a matter of some immediate concern if the idea is to buy and sell quickly.