Summer 2021: Is Housing Headed for a Crash or Boom?
It’s been a wild ride for the housing market so far this year with tight inventory, sky-high prices and fierce competition. There may not be a crystal ball to look into to predict the future, but we’ve scoured the landscape to identify the trends that we see shaping the summer ahead.
We’re Expanding to Bring More Opportunities to Investors
We’re adding new markets to our roster with the addition of five New Western offices located in multiple states. Set to open this summer, our new offices will be located in Columbus, OH; Greensboro, NC; Boston, MA; Seattle, WA and Las Vegas, NV. Read on for more details.
Investor Home Purchases Rise for First Time in a Year as U.S. Economy Bounces Back
Institutional investors see an opportunity in the housing shortage. According to Redfin senior economist Sheharyar Bokhari, “With so few houses on the market, many families are resorting to rentals. Flush with cash, investors are able to snap up the homes that are available, and then turn around and rent them out to folks who can’t find a home or are priced out of homeownership.”
Here’s When Major Banks Could Restart Home Foreclosure Proceedings
Many of the forbearance programs on federally backed loans are set to lapse this fall. In a hearing Wednesday, Senators asked the CEOs of several major banks about what they plan to do to help Americans caught in this situation. Take a look at the article on CNBC to see what the heads of Bank of America, Chase and Wells Fargo had to say.
House Flipping: 5 Things You Need To Know To Create A Successful Career Buying, Rehabbing, and Selling Properties
In a recent interview with Authority Magazine, New Western’s co-founder, Kurt Carlton, shared advice about what it takes to create a successful career buying, rehabbing and selling properties. He covers everything from common mistakes to avoid to what’s most exciting about the real estate industry right now.
US Moves to Double Tariffs on Canadian Lumber Despite a Rise in Prices and Demand
The US Commerce Department recommended a more than doubling of the tariffs on Canadian lumber last Friday. Former President Donald Trump’s administration imposed a similar 20% tariff on Canadian softwood in 2018, but lowered it to around 9% late last year. The National Association of Home Builders criticized the move as U.S. timber producers applauded it.