Housing Market Could Stave Off Potential Recession

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first_img Servicers Navigate the Post-Pandemic World 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Sign up for DS News Daily Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago housing market 2020 Recession 2020-02-04 Mike Albanese About Author: Mike Albanese The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Home / Daily Dose / Housing Market Could Stave Off Potential Recession February 4, 2020 1,682 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Tagged with: housing market 2020 Recession Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Analysis from First American Financial Corporation says that while the U.S. economy is currently in the longest recorded economic expansion on record, a correction could be coming. However, the housing market could stave off a downfall than fall victim to a recession. “An economic expansion doesn’t just die of old age, something has to kill it. So far, that has not happened. Yet, while last summer’s concern about an imminent recession may have been a false alarm, recession isn’t indefinitely avoidable,” said Odeta Kushi, Deputy Chief Economist at First American. Kushi said that while the Great Recession is still fresh on the minds of many consumers, the housing market has weathered other recessions since 1980. She said, with the exception of the Great Recession, as year-over-year existing-home sales growth barely declined in all other previous recession in the last 40 years. “Unlike 2008, the housing market today is not driven by homeowners who are highly leveraged, as shown by the fact that the household debt-to-income ratio is at a four-decade low,” she said. “Additionally, the housing crisis in the Great Recession was fueled heavily by the fact that job loss was paired with a significant share of homeowners who didn’t have much equity in their homes.”Kushi added that homeowners have high levels of tappable home equity in today’s market, providing a cushion to “withstand potential price declines.”“Today, it’s reasonable to expect homeowners to stay where they are if the economy wavered and wait until they feel more financially confident to move, or tap into home equity for recurring expenses, or sell and pay off their mortgages if necessary,” Kushi said. Additionally, Kushi said housing could aid the economy in recovering from the next recession. Recent analysis shows that recovery from the Great Recession has been uneven across the nation. Foreclosure rates have been wallowing at impressive lows for some time. ATTOM Data Solutions reported the national foreclosure rate last year was 0.36%. However, some feel the housing market has never fully emerged from that housing crisis. One market expert says we’re just now seeing “some signs that America’s housing crisis might be starting to abate.” Ben Wilterdink, Director of Programs at the Archbridge Institute, a think tank based in Washington, D.C., said in an article in The Hill, “The nation as a whole has largely recovered from the financial crisis. But the recovery has been deeply geographically uneven, with urban areas experiencing high levels of population growth and new business formation while rural areas remain much more economically stagnant.”  Housing Market Could Stave Off Potential Recession Previous: Expanding Non-Bank Mortgage Institutions and REITs Next: Financial Services Committee Chair Denounces Volcker Rule Changes Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

Contemporary, low-maintenance living appeals

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first_imgInside the home at 37 Sandover Cct, Holmview.Mr Stassen said the Holmview market had been performing quite well. “It’s always very steady — it doesn’t matter what’s happening in the wider market,” he said. “The whole Beenleigh corridor is undervalued so it’s kind of a no-brainer for smart buyers.“Investors have dropped off a little bit because of bank restrictions but that leaves more scope for owner-occupiers.“We’re seeing a decent amount of first homebuyers and a lot of younger families.” The home at 37 Sandover Cct, Holmview.A LOWSET home on a small block in Holmview has sold after just one week on market.Selling agent Alex Stassen, of Harcourts M1, said the three-bedroom home at 37 Sandover Cct sold for $350,000. “We had about four groups through the first open home and the buyers came through after that and fell in love with the place,” he said. “The buyers were a mother and daughter.”Mr Stassen said the house was on quite a small block but it was less than two years old. More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020“The smaller, low-maintenance block appealed to the buyers and they liked that it neat and modern with high ceilings,” he said. last_img read more

Alonso faces five-year jail sentence

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first_imgRelatedPosts Lampard: I still have confidence in Tomori Mane double eases Liverpool to win over 10-man Chelsea EPL: Chelsea, Liverpool in cagey duel Xabi Alonso is on trial for alleged tax fraud.The former Liverpool midfielder faces a five-year prison sentence and a €4 million (£3.6 million) fine if he is found guilty.Alonso, who played for Liverpool, Real Madrid and Bayern Munich in a trophy-laden career, has been charged with three counts of tax fraud, which he is accused of committing between 2010 and 2012.The 37-year-old has insisted he is innocent as his two-day trial starts on Wednesday.Prosecutors claim Alonso evaded around £2 million of tax from image rights.After the trial was suspended in January, Alonso said: “If I have the conviction and the confidence that I have done things correctly, that I have cooperated from the start and have never hidden anything, I have to defend myself and confide in justice.“That’s why I’ve come this far and I am going to carry on until the end.“I would be worried if I thought I had something to hide or I hadn’t done something right. As that’s not the case, I’m carrying on.”Real Madrid legend and Juventus star Cristiano Ronaldo admitted to tax fraud earlier this year.The 34-year-old had been accused of committing £12.9 million of tax fraud between 2011 and 2014.Ronaldo agreed to pay a £16.5 million fine in return for a 23-month suspended prison sentence.Tags: LiverpoolXabi Alonsolast_img read more