A large number of home owners may be erroneously perceiving themselves as underwater on their mortgage, suggests a new analysis by economists at the University of California, Berkeley. Between mid-2011 and the fourth quarter of 2014, home prices nationally have risen about 20 percent. But in a recent Fannie Mae National Housing Survey, the percentage of home owners who perceived they were underwater on their mortgage averaged about 6 percentage points more than estimates from other national surveys. According … [Read more...]
There is a Light at the End of the Phoenix Recovery Tunnel
October 13, 2014 by Leave a Comment
Phoenix may have to wait another two years to make it out of the prolonged recovery following the worst economic calamity in four generations. The word from speakers at the SRP Economic Forecast 2015 presented by thePhoenix Business Journal is that 2016 is year of full recovery. A group of more than 700 business professionals gathered at the J.W. Marriott Phoenix Desert Ridge Resort & Spa to hear the advice. It’s been a long, slow climb, and the light at the end of the tunnel has been seen for over a … [Read more...]
The kids aren’t buying homes: Generation Y may be holding back the housing recovery
July 25, 2013 by Leave a Comment
The number of “missing households” — that is, Americans who would be owning or renting a home now if prerecession economic trends had continued — hit 2.4 million as of March, according to an analysis of raw monthly government data by real-estate marketplace Trulia. That is down slightly from its peak of 2.6 million in 2011, but up 100,000 from the year prior. And 18- to 34-year-olds account for more than half of the missing households, according to the data. “Household formation is the most important indicator of … [Read more...]
