June 14th, 2024. (Reuters) – U.S. home sales in May fell to among the lowest levels in the past decade, real estate brokerage Redfin (RDFN) said in a report, as both demand and supply remained sluggish in a high-mortgage rate environment. See the rest of the story here: https://finance.yahoo.com/news/us-home-sales-crumble-may-134147462.html. If you found this information useful, please follow us on FB.
June 7th, 2024. Fidelity Real Estate Income (FRIFX, $11.68, 5.0%, 9.4%) broadens the typical real estate fund’s giant REIT holdings by adding real estate–related bonds and preferred stocks for extra yield. – June 6, 2024, Kiplinger Investing for Income. If you think this information is useful please follow us on FB.
June 7th, 2024. Be wary of online scams when planning any sort of trip or vacation. Cybercriminals are increasingly preying on unsuspecting travelers as they book flights, hotels, etc., especially during the busy summer travel season. 28 percent of travelers say they’ve fallen victim to a travel-related scam, according to a new survey by McAfee, a cybersecurity company. A significant portion of victims…almost 1 in 4 (24%)…say they’ve lost $1,000 or more to a single scam. The three most common scams of this kind: Fraudulent payments after a consumer provides credit card or bank details on a fake site; clicking on a malicious confirmation link from an unknown source; and booking trips after viewing fake destination photos, such as of hotels or short-term rentals. Younger people tend to fall for online travel scams more than older folks. 40% of Americans 18-29 say they’ve been victims, versus 13% of those 50-65. Berlin, Cyprus, London, Paris and Rio de Janeiro top the list of places most often used by scammers to lead travelers to malware or risky online sites. So, how can you better protect yourself? Be wary of unsolicited messages claiming to be from airlines, hotels or financial institutions, especially if asked for personal info. Do a reverse image search on photos used in property listings. Read property reviews. Communicate only on a rental service’s platform, like Airbnb. – June 6, 2024 The Kiplinger Letter. If you think this information is useful please follow us on FB.
June 7th, 2024. Freddie Mac wants to start buying home equity loans from lenders. Freddie says it would purchase a second mortgage only if it already owns the first, and still must wait for approval from the Federal Housing Finance Agency. The proposal would allow more borrowers to tap into their home equity, providing more favorable terms than open credit markets and a cheaper loan option than cash-out refinancing. Freddie estimates that borrowers could save about $136 per month in payments if the company’s proposal is allowed to go into effect. Home equity loans have risen to their highest level since 2009. That said, stricter lending standards and regulations have dented their popularity. Meanwhile, rising home prices have increased home equity levels over the past few years. – June 6, 2024 The Kiplinger Letter. If you think this information is useful please follow us on FB.
May 22nd, 2024. “Sales of previously owned homes fell 1.9% in April from March to 4.14 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors. The forecast had been for a slight gain.”
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May 19th, 2024. “U.S. economic growth moderated to start the year. According to the U.S. Bureau of Economic Analysis (BEA) “advance” estimate of Real Gross Domestic Product (GDP), the seasonally adjusted annual rate (SAAR) of growth in GDP in Q1 2024 was 1.6%, slowing from a 3.4% rate in Q4 2023. The deceleration in GDP growth was led by slower growth in consumption expenditures, net exports, and government consumption expenditures.” The rest of the article can be found here:
May 19th, 2024. “Banks are still tightening lending standards for businesses and households…But at a slower pace, according to the latest survey of senior loan officers. Moreover, the share of banks toughening their standards has fallen considerably in the aftermath of last spring’s run of regional bank failures. Most banks continue to cite the worsening economic outlook as the reason for getting stingier with credit. Crickets in the REIT pipeline. While brokers and financial advisers flog non-traded REITs despite mediocre performance and higher costs, there still has not been an initial public offering of a property-owning REIT since 2020. Talk about a missed opportunity at a time when the housing business has been red-hot.” – The Kiplinger Letter. If you think this information is useful, please follow us on FB.
May 18th, 2024. Income tax cuts are expiring in 2025. Most Americans have paid lower income taxes since 2018 — and trillions in tax breaks will sunset next year without action from Congress. Read the rest of the story here:
