US - Housing 03 (Aug 20 - Dec 26)

[behappyalways]

White House Authorizes "Final" One-Month Extension Of Eviction Moratorium
https://www.zerohedge.com/political/whi ... -one-month

[behappyalways]

Millions face eviction as federal ban ends tomorrow
https://www.youtube.com/watch?v=Hc23yg9BQRY

[behappyalways]

Is the US economy ok???



CDC issues new eviction ban through October 3
https://www.youtube.com/watch?v=HOzvK_FS5BQ

White House Authorizes "Final" One-Month Extension Of Eviction Moratorium
https://www.zerohedge.com/political/whi ... -one-month

Millions face eviction as federal ban ends tomorrow
https://www.youtube.com/watch?v=Hc23yg9BQRY

[behappyalways]

What Rental Hyperinflation Looks Like: "Soaring Prices. Competition. Desperation"
https://www.zerohedge.com/markets/what- ... esperation

[behappyalways]

Eviction moratorium struck down by Supreme Court
https://www.youtube.com/watch?v=6dN7f6DYLL4

[winston]

Rocketing US house price rises will accelerate more slowly in 2022, halving this year's double-digit pace but still climbing much faster than experts predicted three months ago, according to a Reuters poll of analysts who said homes would get even less affordable.

Record low interest rates and homeworkers seeking bigger living spaces have ratcheted up housing demand at a time when affordable homes are scarce.

Other polls earlier this month also showed house prices in Australia, New Zealand, and Canada would also rise in double digits this year and then slow in 2022.

Source: Phillips

[winston]

Up to 750,000 US holds set for evictions by the end of the year

Landlords may evict roughly 750,000 US households by the end of the year, as lapsing eviction bans and high demand for rental housing push property owners to remove tenants, according to analysts at Goldman Sachs Group.

Delinquent renters have been able to remain in their homes during the Covid-19 pandemic, but the Supreme Court lifted a federal ban on evictions last week, and remaining state and local moratoriums are slated to expire later this year.

Currently, as many as 3.5 million households are behind on rent, with landlords owed as much as US$17 billion (HK$132 billion), the analysts estimated in an Aug. 29 note.

Congress authorized almost $47 billion in rental relief to compensate landlords for lost payments, but state and local governments have been slow to get the funds to those in need.

Meanwhile, shortages of for-sale and rental housing are freeing landlords to rapidly increase rents as properties become vacant.

Rents on newly signed leases in the US surged 17 percent in July when compared to what the prior tenant paid, reaching the highest level on record, according to RealPage.

A surge in evictions would create new inventory of available rental housing, partially offsetting rapidly rising housing costs, according to Goldman.

It may also slow job growth and household consumption, but the implications for public health and Covid-19 infections are probably more severe, the analysts wrote.

Source: Bloomberg

https://www.thestandard.com.hk/breaking ... f-the-year

[behappyalways]

Housing Bubble On Steroids: US Home Prices Rise At Fastest Pace On Record
https://www.zerohedge.com/markets/us-ho ... ace-record

[winston]

The Reason Housing Will Keep Booming

by Dr. Steve Sjuggerud

New housing construction stayed below average rates for a decade.

In the 2010s, fewer single-family homes were sold in the U.S. than in the 1970s… Yet the U.S. population has grown by roughly 125 million since then!

The National Association of Realtors believes the U.S. is short about 2 million single-family homes… and about 3.5 million multifamily units.

Source: DailyWealth.com

https://dailytradealert.com/2021/09/10/ ... p-booming/

[winston]

Why First-Time Homebuyers Shouldn't Beware

By Dr. Steve Sjuggerud

According to a recent Rosen Consulting Group report, U.S. builders added 1.5 million new housing units per year from 1968 to 2000. But since 2001, that number fell by nearly 20%, to 1.225 million per year.

That might not seem like a huge deal. But it means building over the last 20 years was down 5.5 million housing units. And that's during a time when the U.S. population grew by nearly 50 million people.

This is the real reason housing supply and demand has gotten so out of whack. There simply aren't enough homes to go around... And there are more people than ever chasing them.

If building doubled from the 20-year average – which it almost certainly won't – it'd take six years to make up the 5.5 million shortfall.

Source: Daily Wealth