How to Address Concerns About Foreign Home Buyers
At both the federal and local levels, there is more that policymakers could and should do to address legitimate domestic concerns about foreign home buyers, regardless of buyers’ nationalities. And there are already some promising efforts.
Taxing Foreign Home Buyers: What It Does and Doesn’t Do – Intended or Not
One proposed explanation for rapid housing cost growth in many of these cities is the notion that foreign home buyers are to blame. In response to this theory, a handful of global cities have enacted new taxes on foreign home buyers – notably Vancouver, Toronto, Singapore and Sydney. A number of U.S. communities are weighing similar proposals.
U.S. Stability Draws Foreign Buyers Leery of Uncertainty at Home
The primary drivers of foreign home buyers in the United States, in the near term, are expected to be economic and political factors in their countries of origin – and not necessarily the appeal of the United States’ domestic amenities.
Mortgage Rates Retreat from Four-Month Highs on Fiscal and Monetary Policy News
The prime 30-year fixed mortgage rate quoted on Zillow touched its highest level since mid-July last Wednesday.
The Impact of the Amazon Jobs Boom on Seattle Rents
Across the Seattle area, the South Lake Union job boom is associated with faster annual rent increases between 2011 and 2015.
Mortgage Rates Rise on Budget, Fed Chair Expectations
Mortgage rates jumped about 8 basis points at the end of last week on a double-whammy of budget policy and Fed leadership news, rising to their highest level since mid-July and largely staying there through the middle part of this week.
September New Home Sales: After a Disappointing Summer, Finally Some Strength
After a disappointing summer, new home sales roared back in September to record their best month in almost a decade.
Asking Rents in Wine Country Jump in Wildfires’ Immediate Wake
An early look at mid-October advertised rents on Zillow in California’s Napa and Sonoma Counties, which have both lost thousands of homes to a series of devastating wildfires, suggests an increase in rents from September, but also an increase in rental listings.
September Existing Home Sales: Largest Inventory Increase Since 2010
Existing home sales increased in September, rising 0.7 percent from August to 5.39 million units at a seasonally adjusted annual rate (SAAR), the first monthly increase since May.
September Home Sales Forecast: Sales Will Rebound, But Inventory and Hurricane Headwinds Linger
Despite low interest rates, which might otherwise help boost sales, tight inventory is clearly weighing on transactions. Additionally, Hurricane Harvey posed an additional, if modest, headwind to sales nationwide in August. But in September, home sales should rebound, if only modestly.
