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Housing stock age shows desperate need for new construction

Aging housing stock tells the tale of a construction industry that continues to fall behind in the number of new homes built each year. NAHB explained the aging trend is due primarily to the slight increases in residential construction over the past decade, and it’s giving rise to a new trend in the construction industry. […]

Fisticuffs in Beverly Hills: Mom-and-pop multifamily vs. regulations

The Apartment Association of Greater Los Angeles filed a federal lawsuit against the City of Beverly Hills on behalf of apartment tenants and owners seeking relief from the city’s Rent Stabilization Ordinance. The crux of the case is what the plaintiffs feel is an unnecessary regulatory burden on mom-and-pop owner/operators. Source: HousingWire

The rise of renter nation and why it's here to stay

Nationwide, the percentage of renters has been growing for the last 10 years, and though homeownership has been making a small comeback lately, rental skyrocketing home prices are keeping many households on the lease life. And it looks like it’s going to stay that way for a while. Source: HousingWire

Housing affordability reaches 10-year low

Housing affordability reached a 10-year low in the second quarter of 2018, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. NAHB Chairman Randy Noel says homebuilders are struggling to ensure pricing does not outpace expected gains in wage growth. Source: HousingWire

The No. 1 U.S. market just got more affordable

Affordability continues to drop as home prices and interest rates rise and homebuyer demand grows. But in one market, the price for new homes just dropped, making it just a little more affordable for first-time homebuyers. Here’s why. Source: HousingWire

NAR: Home prices soar to all-time high

According to research from National Association of Realtors, second quarter home prices soared to an all-time high. The national median existing single-family home price in Q2 was $269,000, up 5.3% year-over-year and surpassing last year’s Q2 as the new peak. Source: HousingWire