Freddie Mac: What’s Influencing Housing Affordability Now?

first_img Freddie Mac HOUSING mortgage 2017-10-03 Nicole Casperson Servicers Navigate the Post-Pandemic World 2 days ago Freddie Mac: What’s Influencing Housing Affordability Now?  Print This Post Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Share Save Tagged with: Freddie Mac HOUSING mortgage The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Freddie Mac: What’s Influencing Housing Affordability Now? Demand Propels Home Prices Upward 2 days ago Related Articles in Daily Dose, Featured, Headlinescenter_img In a recent report by Freddie Mac, the relative influence of regulatory and geographic constraints on housing affordability was examined, discovering that the restrictive land use of cities and metropolitan areas have reduced affordability.According to the GSE’s September Insights report, many cities geographic constraints have had a greater impact on housing costs. And while regulatory reform can help moderate housing costs, “geographic constraints are permanent and limit the impact of regulatory relief.”The insights also discovered that house prices are 2.4 times higher than in the non-geographically constrained group, and the house price to income ratio is twice as high. Meanwhile, increases in demand cannot produce more housing, “thus prices must adjust by a larger amount.”In addition, the homeownership rate in the geographically constrained group, which includes cities like San Francisco, New York, and Chicago, “is only 56 percent compared to 64 percent in both moderately constrained and non-geographically constrained areas.”Sean Becketti, Chief Economist, Freddie Mac said a thought experiment can illustrate the impact of regulatory relief and the limits on that relief in a city that also is constrained by geography.“Imagine that San Francisco’s land use regulations were relaxed significantly,” Becketti said. “The ensuing reduction in house values would encourage migration to San Francisco, but the city’s geographic constraints guarantee that housing would still be expensive despite the reduction in regulation.”“And, over time, existing homeowners would find it more and more in their economic interest to lobby for the restoration of stricter regulations,” Becketti added. Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Nicole Casperson Previous: Unraveling the Equifax Data Breach Next: Capitalizing on Housing Market Growth Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago October 3, 2017 1,488 Views Subscribelast_img read more

Staff exodus continues at City

first_img A City statement read: “Manchester City can confirm that Ivan Carminati, Fausto Salsano, Massimo Battara, Angelo Gregucci and Attilio Lombardo have left their respective roles at the football club. “We thank them for their contribution to Manchester City since their arrival and wish them well with their future careers.” Press Association Manchester City have confirmed the departure of five more members of Roberto Mancini’s backroom staff.center_img Mancini was sacked after three-and-a-half years as manager on Monday and his first-team coach David Platt left the following day. Among those also to have departed are defensive specialist Angelo Gregucci and reserve-team boss Attilio Lombardo, the former Sampdoria and Crystal Palace player. last_img read more