Builders are constructing more new homes, but they’re not keeping up with demand from our growing population and coming-of-age millennials. That’s one big reason prices continue to rise.
Last week, we got even more evidence that the mortgage system is seriously out of whack. This week, the Fed speaks and we get several reads on the housing market. The Census Bureau reports on new construction, the National Association of Realtors reports existing homes data and Redfin’s Market Tracker has July prices and sales. Across the pond, architects have designed an incinerator that blows smoke. Smoke rings. Seriously.
Jobs: Good. Wages: Not so good. Housing: Moody. This week we get news on retail sales, a deep dive into loan modifications and a report on mortgage debt.
Job growth was decent in June, but wages are still stagnant. While the economy continues to chug along, in all there was no really big positive for the housing market in today’s employment report.
Half of Americans have credit scores below 713. Thanks to tough rules, that might not be enough to get you a $417,000, government-backed mortgage. But it might get you a $3 million jumbo from JPMorgan Chase.
This week, we get a read on the job market and mortgage giants Fannie Mae and Freddie Mac report on their financial health. Thursday, elephants crowd into a room at Quicken Loans Arena. Maybe the location will inspire them to talk housing, but we’re not holding our breath. Also: Zombies, dragons, Carly Rae Jepsen, fun with maps, and that #$%@ high rent.
Builders are constructing more new homes, but they’re not keeping up with demand from our growing population and coming-of-age millennials. That’s one big reason prices continue to rise.
Last week, we got even more evidence that the mortgage system is seriously out of whack. This week, the Fed speaks and we get several reads on the housing market. The Census Bureau reports on new construction, the National Association of Realtors reports existing homes data and Redfin’s Market Tracker has July prices and sales. Across the pond, architects have designed an incinerator that blows smoke. Smoke rings. Seriously.
Jobs: Good. Wages: Not so good. Housing: Moody. This week we get news on retail sales, a deep dive into loan modifications and a report on mortgage debt.
Job growth was decent in June, but wages are still stagnant. While the economy continues to chug along, in all there was no really big positive for the housing market in today’s employment report.
Half of Americans have credit scores below 713. Thanks to tough rules, that might not be enough to get you a $417,000, government-backed mortgage. But it might get you a $3 million jumbo from JPMorgan Chase.
This week, we get a read on the job market and mortgage giants Fannie Mae and Freddie Mac report on their financial health. Thursday, elephants crowd into a room at Quicken Loans Arena. Maybe the location will inspire them to talk housing, but we’re not holding our breath. Also: Zombies, dragons, Carly Rae Jepsen, fun with maps, and that #$%@ high rent.