Each month, OCAR brings you news headlines highlighting the bright spots in today’s real estate market.
Builder Tells Gen Y: Don’t Rent, Buy
The Wall Street Journal, July 3, 2012
Home builder finds innovative ways to market to the next generation of home buyers (hint: it involves using an iPad!) .
Mortgage Rates Fall to New Record Lows
The Associated Press, July 5, 2012
With mortgage interest rates hitting record lows, potential home buyers have more purchasing power.
Investors Are Putting Cash to Work in Residential Real Estate
The Washington Post, June 27, 2012
A “perfect storm” of low interest rates, coupled with the favorable costs of investment properties, have made it possible for more consumers to purchase these properties. Cash sitting in the bank cannot compete with the income generated by owning a rental property.
Home Prices Rise for First Time in 7 Months
CNN Money, June 26, 2012
According to the S&P/Case-Shiller home price index (which samples 20 major markets), average home prices increased 1.3% in April.
Small Cities Will Be the Best Housing Markets for the Next 20 Years
Business Insider, June 25, 2012
The article cites a recent survey, which found that 84 percent of those 18-34 years of age still intend to buy homes. This finding is in contrast to many news accounts which suggest that younger generations have been “turned-off” to the idea of home ownership. According to the author, small to mid-sized communities’ housing markets will fare better than large metropolitan cities over the next twenty years. Areas like Orange County are an example of this trend.
