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Housing Recovery Moving Slowly Despite Moderate Gains in Home Sales

http://dsnews.com/news/11-06-2014/housing-recovery-moving-slowly-despite-moderate-gains-sales



Housing Recovery Moving Slowly Despite Moderate Gains in SalesAuthor: Brian HoneaNovember 6, 20140 While home sales prices posted moderate gains in September, the housing market recovery as a whole is moving slowly, according to the Wells Fargo Economics Group Housing Wrap Up for October 2014. New home sales increased by only 0.2 percent month-over-month in September after shooting up by more than 15 percent in August. And while new home sales have increased by 22.6 percent since September last year, that percentage is perhaps more a reflection on the exceptionally weak sales numbers posted in September 2013, according to Wells Fargo. Existing home sales climbed by 2.4 percent from August to September, the highest percentage in 11 months. Year-over-year, existing home sales were 1.9 percent higher in September. The median price of new homes dropped sharply in September, according to Wells Fargo, …

Millennials Can make a Difference

Tim Garton's Blog By Tim Garton | Agent in 94591
Report: Millennials Can Still Make a Difference In Housing Posted under: Market ConditionsRental BasicsRent vs Buy  |  September 18, 2014 9:33 AM  |  73 views  |  No comments Email Alerts

High Negative Equity Among Gen Xers Causing Housing Gridlock

High Negative Equity Among Gen-Xers Causing Housing Gridlock Posted in Real Estate News on August 27, 2014No comments Author: Scott Morgan August 26, 2014

Much has been said, and even more theorized, about why millennials are not buying homes at the same rate their generational predecessors bought when they were new-generation homebuyers themselves. Zillow, however, may have found a real answer in the fact that generation X and baby boomers are largely underwater.
According to Zillow’s latest Negative Equity Report, high negative equity among Gen-X homeowners is causing gridlock in the U.S. housing market.

Nearly 43 percent of homeowners between 35 and 49 are underwater on their mortgages. In contrast, only 15 percent of millennial homeowners (those between 20 and 34 years old) and 31 percent of baby boomers (50 to 64 years old) are underwater.

This storehouse of negative equity among the two older generations limits millennials from homeownership mainly because of the ripple effect c…

The Housing Recover and Credit

Opinion |December 22, 2014 Is Tight Credit Holding Back a Stronger Housing Recovery? By: Ted Gayer
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