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Opinion: The “profitless boom” in residential construction

Housing Wire

The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Many people are referring to this time as a ‘profitless boom’ for the building industry. Many people are referring to this time as a ‘profitless boom’ for the building industry.

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The current REO market requires an expansion of services for business growth

Housing Wire

Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like? Balancing supply and demand is a delicate dance between new construction and existing properties. HW: How is VRM Mortgage Services growing and changing to meet the current needs of REO asset stakeholders?

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New Construction Rebounds With 3.9% Jump in July

RIS Media

After a surprising decline in housing starts that perplexed pundits earlier in the summer, new construction ticked up last month, according to the latest new residential construction data from the U.S. Buoyed… The post New Construction Rebounds With 3.9% Census Bureau.

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Mortgage rates might soar even higher

Housing Wire

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. ” The Fed’s short-term rate does not directly impact long-term mortgage rates but it does steer market activity to create higher rates and reduce demand.

Mortgages 448
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Construction worker shortage has reached “crisis” levels

Housing Wire

To keep pace with current construction demand, and account for attrition, 740,000 new construction workers are needed each year for the next three years , a report by the Home Builders Institute contends. million new hires for construction. The construction worker shortage has reached crisis level.

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Home prices accelerated in March even as mortgage rates climbed

Housing Wire

Low inventory , maintained by an extremely low level of new listings coming onto the market, has fueled demand amongst the few buyers who can afford to stay shopping. As inventory remains a challenge in this market, so too will affordability be rocked by stubbornly high prices that aren’t looking to move drastically any time soon. “As

Mortgages 435
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What Will the Real Estate Market Bring in 2024? Market Corrections or Rising Property Prices?

Realty Biz

How long can the US real estate market sustain elevated home prices? If it can’t, when is a market correction due? The US market can only keep home prices high for a short time. However, an imminent correction will strongly depend on regional housing market conditions and job market growth. Not necessarily.