Hispanics have powered more than half of the growth in homeownership in recent years, but a severe shortage of for-sale homes exacerbated by a flood of institutional investors significantly constrained Hispanics’ contribution to homeownership growth in 2013, according to the National Association of Hispanic Real Estate Professionals (NAHREP).
“This is a story of potential,” said Jason Madiedo, president of NAHREP. “Latinos are ready to buy homes now. Their biggest obstacle coming into today’s market isn’t credit — it’s lack of available housing.”
Hispanics accounted for an increase of 2.6 million owned households between 2000 and 2013, or 47 percent of all homeownership growth in the U.S., according to NAHREP’s 2013 State of Hispanic Homeownership Report.
From 2010 to 2013, Hispanics’ share of homeownership growth was even higher, with 56 percent of homeownership growth attributable to Hispanics, the report found.
But Hispanics’ contribution to owner household growth fell precipitously to 84,000 in 2013 from 324,000 in 2012, according to NAHREP CEO Gary Acosta — a 74 percent decline
- See more at: http://www.inman.com/2014/04/02/nahrep-institutional-investor-activity-taking-outsized-toll-on-hispanic-homebuyers/?utm_source=20140403&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.aHC86RwR.dpuf
Showing posts with label Mount Kisco Realtor. Show all posts
Showing posts with label Mount Kisco Realtor. Show all posts
Thursday, April 3, 2014
Tuesday, December 10, 2013
Tuesday, November 26, 2013
October Pending Home Sales Down Again, but Expected to Level Out | Mount Kisco Real Estate
Although conditions were mixed across the country, pending home sales continued to move lower in October, marking the fifth consecutive monthly decline, according to the National Association of REALTORS®.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, slipped 0.6 percent to 102.1 in October from an upwardly revised 102.7 in September, and is 1.6 percent below October 2012 when it was 103.8. The index is at the lowest level since December 2012 when it was 101.3; the data reflect contracts but not closings.
Lawrence Yun, NAR chief economist, said weaker activity was expected. “The government shutdown in the first half of last month sidelined some potential buyers. In a survey, 17 percent of Realtors® reported delays in October, mostly from waiting for IRS income verification for mortgage approval,” he said.
“We could rebound a bit from this level, but still face the headwinds of limited inventory and falling affordability conditions. Job creation and a slight dialing down from current stringent mortgage underwriting standards going into 2014 can help offset the headwind factors,” Yun said.
http://rismedia.com/2013-11-25/october-pending
The Pending Home Sales Index, a forward-looking indicator based on contract signings, slipped 0.6 percent to 102.1 in October from an upwardly revised 102.7 in September, and is 1.6 percent below October 2012 when it was 103.8. The index is at the lowest level since December 2012 when it was 101.3; the data reflect contracts but not closings.
Lawrence Yun, NAR chief economist, said weaker activity was expected. “The government shutdown in the first half of last month sidelined some potential buyers. In a survey, 17 percent of Realtors® reported delays in October, mostly from waiting for IRS income verification for mortgage approval,” he said.
“We could rebound a bit from this level, but still face the headwinds of limited inventory and falling affordability conditions. Job creation and a slight dialing down from current stringent mortgage underwriting standards going into 2014 can help offset the headwind factors,” Yun said.
http://rismedia.com/2013-11-25/october-pending
Thursday, November 21, 2013
Moody's downgrades Westchester, NY, credit | Mount Kisco Real Estate
A major credit rating service has downgraded Westchester County, in suburban New
York, to its second-highest level.
Moody's Investment Services attributed the slip from Aaa to Aa1 to a "lack of liquidity." It noted that Westchester is taking part in a program offered by the state to amortize pension payments.
In a statement Wednesday, County Executive Robert Astorino said he chose the state program over layoffs and higher taxes.
He also noted that two other big ratings services, Standard & Poor's and Fitch, have kept the county at their highest rankings. All three firms list Westchester's outlook as "stable."
Astorino said Westchester still has the highest bond ratings of any New York county.
http://online.wsj.com/article/AP522bc1fa07b04c95b45bec21cc3793c5.html
Moody's Investment Services attributed the slip from Aaa to Aa1 to a "lack of liquidity." It noted that Westchester is taking part in a program offered by the state to amortize pension payments.
In a statement Wednesday, County Executive Robert Astorino said he chose the state program over layoffs and higher taxes.
He also noted that two other big ratings services, Standard & Poor's and Fitch, have kept the county at their highest rankings. All three firms list Westchester's outlook as "stable."
Astorino said Westchester still has the highest bond ratings of any New York county.
http://online.wsj.com/article/AP522bc1fa07b04c95b45bec21cc3793c5.html
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