The New York Times
Fewer homeowners have been falling behind on their mortgage payments over the last two years, yet even with the improvement, a significant number still are delinquent or in foreclosure.
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http://www.nytimes.com/2012/03/11/realestate/mortgages-paying-on-time.html?_r=1&ref=realestate
A new report by NAR in collaboration with several other housing-related agencies shows that aging baby boomers and their echo boomer children will significantly impact trends in the nation’s housing market over the next 20 years. In the report, researchers analyze key demographic trends and their likely influence on housing and homeownership in the U.S.
Over the next two decades, the aging baby boomer generation will swell the nation’s senior population by 30 million. That demographic shift will likely help increase the supply of housing, since people over age 65 typically release much more housing than they absorb.
The echo boom generation includes nearly 65 million people born between 1981 and 1995. NAR’s analysis illustrates the potential impact of economic and housing policy on this generation’s demand for housing as they come of age.
“Housing, jobs and the economy are inextricably connected,” said Yun. “A strong recovery with favorable housing market conditions would encourage substantial growth in echo boomer households, which would help absorb the current vacant inventory and stabilize conditions for residential construction. Under a reasonable ‘middle’ recovery scenario, approximately 12 million new households will be formed over the next decade, requiring construction of up to 15 million new housing units.”
NAR President Moe Veissi noted that current market trends favor would-be homeowners of all ages. “As the supply of rental housing continues to fall, rents are increasing,” said Veissi, broker-owner of Veissi & Associates Inc., in Miami. “At the same time, affordability for homeowners is at a record high. For buyers who qualify and are ready to assume the responsibilities of owning a home, opportunity is knocking.”
http://www.realtor.org/press_room/news_releases/2012/03/influence
CNNMoney
During the three months that ended Dec. 31, homes that were either bank-owned or going through the foreclosure process accounted for 24 percent of all home sales, up from 20 percent in the previous quarter and down only slightly from a year earlier when foreclosures accounted for 26 percent of sales, RealtyTrac said.
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http://money.cnn.com/2012/03/01/real_estate/foreclosure-sales/index.htm?iid=HP_River
CNNMoney
Over 36,000 homes valued at $1 million or more were foreclosed on – or at least served with a notice of default – in 2011, according to data compiled by RealtyTrac.
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http://money.cnn.com/2012/02/23/real_estate/million_dollar_foreclosures/index.htm?iid=Lead
CNNMoney
According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, 75.9 percent of all new and existing homes sold during the fourth quarter 2011 could have been comfortably purchased by families earning the national median income of $64,200.
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http://money.cnn.com/2012/02/15/real_estate/housing_affordability/index.htm?hpt=hp_t3
