Real Estate News of the Week
In this article, we will discuss the recent housing boom in Sacramento, the rental market in San Francisco, and Foreclosures. In addition, we’ll discuss the latest housing market trends and the policy shaping lenders’ activities. This is important information for home buyers, sellers, and investors. Let’s take a closer look at the different trends and factors that influence the real estate industry. Then, we’ll take a look at the real estate news of the week.
Sacramento’s housing boom
The California city of Sacramento is experiencing a real estate boom. While San Francisco is the hottest housing market in the world, the housing market in Sacramento is booming, too. With a steady job market and an expanding population, the Sacramento real estate market offers a
healthy mix of incomes and housing options. Many people who work in the Bay Area commute to Sacramento for work, but do not want to pay the high prices that come with a property news in the city.
San Francisco’s rental market
The San Francisco housing authority has commissioned a survey of current market rents, which provides information on affordability in the city’s various neighborhoods. The data was based on the rent levels of 14,262 rental units in San Francisco. It shows that San Francisco’s rental market is incredibly tight, with an average vacancy rate of less than one percent. Since 1989-90, when the city experienced an overall vacancy rate of 4.2%, the vacancy rate has been much tighter.
Sacramento’s home sales slump
The real estate market in Sacramento has experienced a two-year honeymoon phase. During that time, prices soared, and homebuyers flocked from San Francisco and other expensive coastal cities to cheaper inland locations. However, with a drop in sales, the city is re-entering normalcy. In the meantime, there’s a lingering shortage of housing units and sky-high rent.
Since the July moratorium on foreclosures was lifted, foreclosure activity has picked up. Last quarter, the number of foreclosures increased by 34%. It’s likely that the trend will continue well into the new year, fluctuating between a slow tick and a torrent. Here are some facts about the current foreclosure situation in the United States. – The number of homes being foreclosed on is spiking in the New York area.
New lending guidelines
The FDIC will begin to supervise 3,215 insured depository institutions by March 31, 2021, and its Real Estate Lending Standards will apply to all such institutions. The changes will have a variety of effects on banks, depending on their real estate lending activities. They will also require banks to maintain certain capital ratios, including allowance for loan losses and credit reserve, in addition to tier 1 capital. These thresholds may vary over time, so banks should continue to monitor and adhere to current regulations.