NAR: Americans want to buy more homes, but will economic uncertainty prevent them?

National Association of Realtors | September 30, 2019

NAR: Americans want to buy more homes, but will economic uncertainty prevent them?
Although more than half of Americans believe now is a good time to buy a home, many are cautious about entering the market, according to the National Association of Realtors. According to the group’s Q3 HOME survey, 63% of Americans believe now is a good time to buy a home. Of these respondents, 34% say they strongly believe this to be a fact. This reading, although promising, is still a decrease from last year’s percentage. During Q3 of 2018, a whopping 75% of respondents indicated the housing market’s purchasing conditions were favorable, even though mortgage rates then were higher than they are now.

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Real Estate Tech Recap by CREtech. Total venture capital invested in real estate tech companies continued to surge in May 2019. Globally, over $1 billion was invested in real estate tech companies.

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Bitcoin Buys Australian Real Estate

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The innovative online auction house is proving to be a disruptor in yet another market, with the combination of properties starting at just $1, a gazump-free guarantee and accepting all forms of payment including cryptocurrency, Lloyds is challenging the traditional real estate model. Throughout COVID lockdowns this veteran auction house has used high quality audio/visual walkthroughs of each property along with millions of items sold, to morph itself over the last 5 years into a digital disruptor of over a dozen different verticals including art, classic cars, diamonds, NFT's and earthmoving machinery. The Lloyds Auctions platform operates with a combination of live on-site bidding, online bidding, phone bidding and absentee bidding that all simultaneously combine to create the same live auction experience, and for bidders unable to attend physically Lloyds live streams a multi-camera simulcast production worldwide. The use of cryptocurrency as a payment method is becoming more commonly used for purchases as confidence surrounding cryptocurrency gets stronger. This opens up our platform to a whole new audience who otherwise might not have been interested in purchasing property, This is an online auction first and we are extremely excited to offer this new technology to our ever growing worldwide clientele base expanding our company into a new division in a way that no other auction house has done before. - Lee Hames, Chief Operating Officer for Lloyds Auctioneers and Valuers. The first online property auctions were launched 3 days ago with millions of dollars of bids already received it looks like bidders are more than comfortable with this new online real estate model.

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Reduce the Tax On Foreign Investment In U.S. Real Estate

Real Clear Markets | April 22, 2020

The Trump administration is starting to turn its attention toward re-opening and revitalizing the economy, with the President announcing the formation of a new taskforce dedicated to these goals. While the health of Americans remains the top priority, the administration is right to also focus on kickstarting the once-roaring economy through tax and deregulatory policies that encourage investment and job creation. One policy proposal that should be at the top of this list is rolling back the Foreign Investment in Real Property Act (FIRPTA), an outdated law that restricts foreign dollars in American real estate by imposing higher taxes on foreign investment in real estate and infrastructure than those on other asset classes like stocks and bonds.

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Zillow Forecasts a Dip in Home Prices, Rebounding By Next Year

Zillow | May 04, 2020

Buyer demand and healthy housing-market dynamics will prevent U.S. home prices from dropping more than 2-3% -- or more than 1.7% year over year -- in the wake of the coronavirus, according to a forecast released today by Zillow®. The forecast says home sales will fall as much as 60% this spring and take through the end of next year to recover, while prices will fall through the year but recover a few months sooner. The recovery is likely to look like a checkmark, with transactions building at a pace of about 10% each month through the end of 2021, according to the forecast by Zillow Chief Economist Svenja Gudell and her team of economists and analysts.

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Spotlight

Real Estate Tech Recap by CREtech. Total venture capital invested in real estate tech companies continued to surge in May 2019. Globally, over $1 billion was invested in real estate tech companies.