Home Price Pessimism on the Rise?

first_img Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Share Save Sign up for DS News Daily Tagged with: Home Prices Homebuyers Homeowners Homes HOUSING housing costs Income Remorse valueinsured Demand Propels Home Prices Upward 2 days ago Homebuyer remorse is on the rise, according to the latest ValueInsured Modern Homebuyer Survey. In a market driven by low inventory and heavy competition that has steadily escalated home prices for a few years now, buyers are increasingly regretting how much they’ve paid for their new homes.“Home payments in some areas are swallowing up 45 percent of local median income,” ValueInsured wrote. In these areas, “expectation of buyer’s remorse is high.”According to the findings, two-thirds of homebuyers and almost 70 percent of homeowners expect to have buyer’s remorse within a year. A quarter of those said they expect to have the same level of remorse reported by buyers just prior to the crash in 2008.The second finding, at first glance, might seem counter-intuitive, given that these are homeowners who presumably would place a higher value on homeownership, ValueInsured wrote. “However, when layering this finding and other homeowner insights from the survey onto our current housing market, it makes sense.”Between 55 and 60 percent of buyers and owners said people who buy in their neighborhood now are overpaying; even more said that if they were to buy a home now, they would be buying high.Homeowners in California and Texas–“two of the most overheated housing states”–are the most pessimistic about the sustainability of home prices, according to ValueInsured. Eighty percent of owners in these two states (vs. 71 percent nationally) believe a housing correction will happen within two years. “In Texas, 44 percent of all existing homeowners believe a housing correction is already underway in their area,” ValueInsured said. This, the report stated, “reaffirms the astute sensibility of homeowners who seem to have foreshadowed the latest Case-Shiller Home Price Index report released this week showing Dallas-area home prices growing at the slowest pace in five years.”Among potential buyers, the sentiment is only slightly less pessimistic. Sixty-five percent of buyers said a housing correction will happen within the next two years.  (71 percent homeowners vs. 65 percent non-homeowners). Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home Prices Homebuyers Homeowners Homes HOUSING housing costs Income Remorse valueinsured 2018-07-05 Radhika Ojha in Daily Dose, Featured, Market Studies, News July 5, 2018 1,801 Views Home / Daily Dose / Home Price Pessimism on the Rise? Home Price Pessimism on the Rise? Previous: Court Extends TSA Program for Puerto Rico Evacuees Next: Investment and Vacation Homebuyerscenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Scott Morgan Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Subscribelast_img read more

Lord Patten condemns Brexit immigration plans

first_imgThe Chancellor of Oxford University, Lord Patten, has urged the government to stop treating international students as “economic migrants”.Patten blamed the government’s “obsession” with immigration number targets, which, he argued, it had failed to meet multiple times. Although this claim has been rejected by the Prime Minister, who has insisted on counting students in official immigration figures, Foreign Secretary Boris Johnson has backed excluding overseas students from the government’s target to get net migration down to the tens of thousands.Immigration targets have previously helped the government crack down on bogus colleges used as a back route to work in Britain illegally.However, Lord Patten warned about the detrimental impact of classing students in the same category as economic migrants.Patten, who backed the UK remaining in the EU, referred to Theresa May’s speech outlining Brexit plans to build a “global Britain”.He commented: “It would be extraordinary if having become global Britain we were to prevent the huge numbers of international students coming to study.“Why do we deny ourselves, our universities, the benefits of educating more young people from around the world?”He insisted that people understood the difference between a student and an immigrant and the contribution they made to the economy.“So why do we behave so foolishly? Because of our fixation with an immigration target.“We put higher education in a more difficult position, we cut ourselves from a great deal of economic benefits because of that obsession with an immigration target, which we fail to reach, very often because we are growing so rapidly, year after year.”Patten emphasised growing demand in Asia for western higher education. He said: “We have made the choice, global Britain, to cut ourselves off from that. It’s completely crazy.”This news comes amid comments from Oxford’s incoming Head of Brexit Strategy, Professor Alastair Buchan, speaking to the Education Select Committee held in Pembroke college, Oxford, two weeks ago, that a hard Brexit would be “giving up 500 to 950 years of exchange—I think we need to be very cautious.”Carl Gergs, a third year at Pembroke and a German citizen, told Cherwell: “subjecting all international students to a blanket immigration rule in order to ‘clamp down’ on a misusing minority doesn’t seem very efficient at all. Most students are net economic contributors and enrich UK university life – some of them will be excluded or deterred by this system. I can only agree with Lord Patten that this approach is at odds with the vision of a ‘global Britain.’”Steve Sangbeom Heo, international students’ rep at Brasenose college JCR told Cherwell: “I think it’s very unfortunate that the national mood’s becoming more and more insular. To be honest I can’t really think of a good reason why students should count as economic migrants nor understand what  motivated May to argue for this other than political bluff to show that she’s ‘hard on immigration’. But I also think this is hardly surprising given that Theresa May’s currently trying so hard to pander to Brexiteers.”last_img read more

West End the place to live

first_imgCara Jade with Samuel, 2, and Matthew, 3, ride near their West End home. Picture: Evan MorganWEST End resident Cara Jade says she wouldn’t live anywhere else in Townsville thanks to the suburb’s character homes and family-friendly feel.Ms Jade has lived in West End for the past two years with her two sons Samuel, 2, and Matthew, 3 (pictured).More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020She said she had seen the suburb evolve with new shops opening and beautiful renovations being completed on historic homes. Ms Jade said West End was ideally located, being close to top-quality schools, the CBD, and shops.“The location is great, I like the heritage style of the homes and it’s just a really nice place to live,” she said.“I feel really safe and here I regularly ride my bike with the boys around the streets and because it’s so quiet here you hardly even see a car. “The neighbours are great as well and everyone looks out for each other.”Ms Jade said she had witnessed the suburb become more popular among young people while living there.“I have really seen it pick up with little shops opening up and it seems to be a place for young professionals and families,” she said.last_img read more

Texas Tech faces tough test vs No. 1 Kansas

first_img Associated Press March 5, 2020 Share This StoryFacebookTwitteremailPrintLinkedinRedditNo. 1 Kansas (27-3, 16-1) vs. Texas Tech (18-12, 9-8)United Supermarkets Arena, Lubbock, Texas; Saturday, 2 p.m. ESTBOTTOM LINE: No. 1 Kansas presents a tough challenge for Texas Tech. Texas Tech has won two of its seven games against ranked opponents this season. Kansas has won its last 14 games against conference opponents. BIG MEN ON CAMPUS: The Jayhawks are led by Devon Dotson and Udoka Azubuike. Dotson has averaged 17.6 points and 2.1 steals while Azubuike has put up 13.7 points, 10.4 rebounds and 2.6 blocks per game. The Red Raiders have been led by Jahmi’us Ramsey and Kyler Edwards. Ramsey has produced 13.8 points while Edwards has averaged 11.7 points and four rebounds per outing.DOMINANT DEVON: Dotson has connected on 31.4 percent of the 118 3-pointers he’s attempted and has made 11 of 22 over the last five games. He’s also made 82.6 percent of his foul shots this season.WINLESS WHEN: Texas Tech is 0-7 this year when it scores 61 points or fewer and 18-5 when it scores at least 62.STREAK SCORING: Kansas has won its last nine road games, scoring 65.8 points, while allowing 53.6 per game.GETTING DEFENSIVE: Kansas has held opposing teams to 60.7 points per game this year, the 10th-lowest figure among all Division I teams.___center_img Texas Tech faces tough test vs No. 1 Kansas For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.comlast_img read more