NEWS BRIEFS
NATIONAL UPDATES
the housing crisis in 2009 in response to the massive demand for rentals that occurred after homeowners lost their homes and could not obtain credit for a replacement purchase. •
REBOUNDING NEIGHBORHOODSWORTHA LOOK BY INVESTORS Many down-and-out neighborhood housing markets across the country are on the rebound, thanks to a confluence of market forces working in their favor. And that could lead to some great deals for real estate investors. RealtyTrac (now an ATTOM Data Solutions company) analyzed housing market and neighborhood quality data in 3,561 U.S. ZIP codes with a combined population of 124 million to select the 35 best “bad” neighborhoods in which to buy a home. Leading the list were East St. Louis, Missouri; Baltimore, Mary- land; Charlotte, North Car- olina; Jacksonville, Florida; and Plainfield, New York. An interactive visual chart of the 35 best “bad” neighbor- hoods can be accessed at http://www. realtytrac.com/news/real-estate-investing/ best-bad-neighborhoods-to-buy-a-home/. “The underperforming school scores and inflated rates of underwater homes in these markets demonstrates they are lagging the housing recovery seen across much of the rest of the nation,” said Daren Blomquist, senior vice presi- dent, ATTOM Data Solutions. “But it is clearly evident from this data that many individuals and institutions are betting on these hyperlocal housing markets to still bounce back. Home-flipping returns are substantially above the national aver- age, indicating strong buyer demand for fixed-up homes; construction loans are increasing, indicating increased develop- ment often at a large scale; and the share of Millennial population is increasing, indicating that the pool of new renters and homebuyers is growing.” •
UPCOMING EVENTS
SEPTEMBER 7-8 6th Specialty Finance Summit Sponsored by iGlobal Forum New York, New York www.cvent.com/events/6th-spe- cialty-finance-summit/event-sum- mary-b738171632294e2bb- d12210a547b41aa.aspx SEPTEMBER 11-14 2016 Five Star Conference and Expo Dallas, Texas www.thefivestar.com/fsc/ Private Equity Summit (West) Sponsored by iGlobal Forum Los Angeles, California www.cvent.com/events/15th-re- al-estate-private-equity-sum- mit/event-summary-836f45d- 2149b4144a58ddde36565a30f.aspx SEPTEMBER 19 Cap Intro: L/S Equity – Event Driven Alternative Investing Sponsored by Catalyst Financial Partners New York, New York www.catalystforum.com/events/ls- equity-event-driven-investing/ OCTOBER 15 Think Realty Expo Sponsored by Think Realty Atlanta, Georgia www.thinkrealty.com/events/atlanta/ OCTOBER 24-27 ULI 2016 Fall Meeting Sponsored by Urban Land Institute Dallas, Texas www.uli.org/events/fall-meeting/ SEPTEMBER 14-15 15th Global Real Estate
SOURCE :: The MReport
FANNIE MAE OUTLOOK HOLDS STEADY FOR ECONOMIC GROWTH Fannie Mae’s economic growth outlook for the second half of the year remains unchanged from the
prior forecast at about 2 percent, according to its Economic & Strategic Re- search Group’s July 2016 Economic and Housing Outlook. Consumer spending is expected to drive growth for the rest of 2016, Fannie Mae says, as busi-
nesses face headwinds from shrinking profits, weak productivity and rising labor costs in the face of uncertainty stemming from Brexit and the U.S. presidential election. Highlights of the report include: • Government spending and residential investment should be positive con- tributors to economic growth in 2016. • Nonresidential and inventory invest- ment and net exports are expected to drag on growth. • Moderate housing expansion is ex- pected for the remainder of 2016. • Housing inventory is expected to remain tight, boosting home prices and constraining affordability. • No interest rate hike by the Fed is foreseen until mid-2017. • Brexit is seen as having only slight impact on the U.S. economy. •
SOURCE :: RealtyTrac.com
SOURCE :: Fannie Mae
10 | think realty magazine september :: october 2016
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