Real estate market after COVID-19

-
Coronavirus: Renters 'more at risk from economic downturn' - BBC News

If you hope to sell your home this year, the late summer or early fall might be a good time to try, according to realtor.com’s latest housing market forecast.

Even with the expected rebound, experts believe home sales will be down 15 percent for the year. Other expected trends include a migration out of large urban markets and into smaller cities, where density is lower and housing is more affordable.

The pandemic has distorted the spring housing market but, oddly, has not greatly affected its balance. While there are dramatically fewer buyers, there are also fewer homes for sale, as homeowners who want to sell are waiting if at all possible.

In the last month, mortgage underwriters have dramatically tightened requirements for getting approved for a loan. The reason? Loaning money suddenly looks a lot riskier due to surging unemployment and the CARES Act allowing homeowners to delay paying their mortgages.

Although qualifying for a loan will be harder to do, the realtor.com forecast predicts that finding a home for sale will still remain the largest hurdle for buyers for the remainder of the year. 



Comments

Post a Comment

Popular posts from this blog

Aging is a natural part of life, and it can be a time of great opportunity and growth. By taking care of ourselves and staying connected with others, we can age gracefully and live a long and healthy life.

-
Image
Define what "aging gracefully" means to you. What does it mean to you to age well? Do you want to stay active and independent? Do you want to maintain your mental sharpness? Do you want to stay connected with your loved ones? Once you know what "aging gracefully" means to you, you can start to develop a plan to achieve your goals. Take care of your physical health. This includes eating a healthy diet, exercising regularly, and getting enough sleep. It also includes managing chronic health conditions, if you have any. Take care of your mental health. This includes finding ways to manage stress, staying connected with others, and keeping your mind active. Stay engaged in life. This could mean volunteering, learning new things, or traveling. It could also mean simply spending time with loved ones and doing things you enjoy. Accept the changes that come with aging. This doesn't mean you have to give up on your dreams or goals. But it does mean accepting that your bo...
Read more

How nutrition, housing, social connection impacts the health of older adults

-
Image
How nutrition, housing, social connection impacts the health of older adults Through my mornings among the elderly, I understood that nutrition, housing, and social networks matter as much or more than other commonly understood health factors when it comes to improving the quality of life for older adults. Solutions for meeting their needs are connected, and neglecting any of them can cause repercussions that encircle everything else. Here’s how: A well-balanced diet with plenty of fruit, vegetables, whole grains, and lean protein helps maintain strength and decreases the risk for chronic ailments such as diabetes and heart disease. These factors also help maintain overall cognitive function. Seniors are among the most food insecure. The lack of resources to buy nutritious food can contribute to malnutrition and weaker immune systems, which puts older people at risk for infections. Safe housing not ice-covered or poorly lit and secure housing means are in place to prevent entry by in...
Read more

A Climate Plan for San Jacinto: Building a Sustainable Future

-
Image
San Jacinto, situated in Riverside County, California, faces a range of climate-related challenges, including extreme heat, wildfires, drought, and air pollution. To address these issues and create a more sustainable future, our community must implement a comprehensive climate plan. The plan should prioritize both mitigation and adaptation strategies. Mitigation efforts aim to reduce greenhouse gas emissions to slow climate change. This can be achieved through the promotion of renewable energy sources, such as solar and wind power, and by improving energy efficiency in homes, businesses, and public buildings. Additionally, encouraging the adoption of electric vehicles and expanding charging infrastructure can contribute to emissions reduction. Adaptation strategies focus on preparing for and responding to the impacts of climate change. These include water conservation measures, emergency preparedness plans, urban forestry initiatives, and infrastructure upgrades to enhance resilience...
Read more