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San Francisco's well-publicized homelessness crisis is emblematic of the problems facing many of America's big cities as they struggle to provide affordable housing against the backdrop of high interest rates and low inventory. This has led the city to employ a variety of methods to tackle the problem, but a recent plan to provide tiny houses for San Francisco's homeless population has residents furious over the cost. The units would cost a reported $113,000 each to construct. Considering that t
Real estate investment trusts (REITs) own, operate, or finance income-generating real estate. REITs allow individuals to invest in various types of real estate without having to directly own or manage the properties. REITs typically focus on a specific type of real estate, such as residential, commercial, or industrial, and they are required to distribute a large percentage of their taxable income to shareholders in the form of dividends, making them attractive for income-seeking investors. Let'
Prospective homebuyers got good news when Freddie Mac announced a downward adjustment to anticipated home price increases for 2024 and 2025. The revision comes just over a month after Freddie Mac predicted increases of 2.5% for 2024 and 2.1% for 2025. The mortgage lender predicts that the increase for 2024 and 2025 will be closer to 0.5%. Considering that most prospective homebuyers were already struggling with high prices and a lack of inventory, any news about a slowdown in price increases cou
For many of the past 50 years, Detroit, Michigan has been a grim symbol of America's industrial decline, but that was yesterday. Today's Motor City is on the rise, and local property values are surging. This is especially true for Detroit's predominately Black neighborhoods, which disproportionately bore the brunt of the city's decline in the 1970s, 1980s and 1990s. A recent University of Michigan Poverty Solutions Report shows that home values increased by 80% in Detroit's African American neig
The conventional wisdom in real estate has long been that there is no money to be made in building affordable housing, but Andrew Schwartzberg, a partner in one affordable housing conglomerate, would beg to differ. Schwartzberg recently purchased a $38 million estate on the luxurious Malibu, California, coastline. The purchase is the fourth-largest transaction in California this year. Schwartzberg is a veteran of the affordable housing rental industry with an impressive resume. He is managing pa
Since March 2023, 625 commercial loans have been foreclosed on — a 117% increase over the previous year, according to real estate research and data analysis firm ATTOM. It's another data point illustrating how deep the commercial real estate sector's problems go. It's also alarming because the volume of commercial debt that can still go bad is massive. The implications for the economy are frightening to contemplate and each day, America's commercial real estate sector takes another step toward t
Mortgage rates have been so low for so long that it's created a lock-in effect where people don't want to sell their homes to buy new ones for fear of losing their attractive rates. That's made it "almost impossible" for first-time homebuyers to enter the housing market, U.S. Treasury Secretary Janet Yellen said during her testimony before the House Ways and Means Committee. "With house prices having gone up and now with much higher interest and mortgage rates, it's almost impossible for first-t
With the gap between the cost to buy a home versus renting at its highest in 50 years, real estate mogul Grant Cardone predicts his investors will see a return on their investments in his company's real estate portfolio over the next 10 years. Cardone shared a graphic from Visual Capitalist illustrating how rising mortgage rates and home prices have impacted the housing market. In October 1981, during the peak of homebuying for the oldest baby boomers, the 30-year fixed-rate mortgage hit a recor