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US Real Estate News for Global Investors 1-21-2021

Posted By Yoshi Takita on January 21, 2021 in Investments

What Experts Are Saying about the 2021 Job Market What Experts Are Saying about the 2021 Job Market | MyKCM Earlier this month, the Bureau of Labor Statistics (BLS) released their most recent Jobs Report. The report revealed that the economy lost 140,000 jobs in December. That’s a devastating number and dramatically impacts those households that lost a source of income. However, we need to give it some context. Greg Ip, Chief Economics Commentator at the Wall Street Journal (WSJ), explains: “The economy is probably not slipping back into recession. The drop was induced by new restrictions on activity as the pandemic raged out of control. Leisure and hospitality, which includes restaurants, hotels, and amusement parks, tumbled 498,000.” In the same report, Michael Pearce, Senior U.S. Economist of Capital Economics, agreed: “The 140,000 drop in non-farm payrolls was entirely due to a massive plunge in leisure and hospitality employment, as bars and restaurants across the country have been forced to close in response to the surge in coronavirus infections. With employment in most other sectors rising strongly, the economy appears to be carrying more momentum into 2021 than we had thought.” Once the vaccine is distributed throughout the country and the pandemic is successfully under control, the vast majority of those 480,000 jobs will come back. Here are two additional comments from other experts, also reported by the WSJ that day: Nick Bunker, Head of Research in North America for Indeed: “These numbers are distressing, but they are reflective of the time when coronavirus vaccines were not rolled out and federal fiscal policy was still deadlocked. Hopefully, the recent legislation can help build a bridge to a time when vaccines are fully rolled out and the labor market can sustainably heal.” Michael Feroli, Chief U.S. Economist for JPMorgan Chase: “The good news in today’s report is that outside the hopefully temporary hit to the food service industry, the rest of the labor market appears to be holding in despite the latest public health challenges.” What impact will this have on the real estate market in 2021? Some are concerned that with millions of Americans unemployed, we may see distressed properties (foreclosures and short sales) dominate the housing market once again. Rick Sharga, Executive Vice President at RealtyTrac, along with most other experts, doesn’t believe that will be the case: “There are reasons to be cautiously optimistic despite massive unemployment levels and uncertainty about government policies under the new Administration. But while anything is possible, it’s highly unlikely that we’ll see another foreclosure tsunami or housing market crash.” Bottom Line For the households that lost a wage earner, these are extremely difficult times. Hopefully, the new stimulus package will lessen some of their pain. The health crisis, however, should vastly improve by mid-year with expectations that the jobs market will also progress significantly.

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US Real Estate News for Global Investors 1-20-2021

Posted By Yoshi Takita on January 20, 2021 in Investments

Owning a Home Is Still More Affordable Than Renting One Owning a Home Is Still More Affordable Than Renting One | MyKCM If spending more time at home over the past year is making you really think hard about buying a home instead of renting one, you’re not alone. You may be wondering, however, if the dollars and cents add up in your favor as home prices continue to rise. According to the experts, in many cases, it’s still more affordable to buy a home than rent one. Here’s why. ATTOM Data Solutions recently released the 2021 Rental Affordability Report, which states: “Owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 572, or 63 percent of the 915 U.S. counties analyzed for the report. That has happened even though median home prices have increased more than average rents over the past year in 83 percent of those counties and have risen more than wages in almost two-thirds of the nation.” How is this possible? The answer: historically low mortgage interest rates. Todd Teta, Chief Product Officer with ATTOM Data Solutions, explains: “Home-prices are rising faster than rents and wages in a majority of the country. Yet, home ownership is still more affordable, as amazingly low mortgage rates that dropped below 3 percent are helping to keep the cost of rising home prices in check.” In 2020, mortgage rates reached all-time lows 16 times, and so far, they’re continuing to hover in low territory this year. These low rates are a big factor in driving affordability. Teta also notes: “It’s startling to see that kind of trend. But it shows how both the cost of renting has been relatively high compared to the cost of ownership and how declining interest rates are having a notable impact on the housing market and home ownership. The coming year is totally uncertain, amid so many questions connected to the Coronavirus pandemic and the broader economy. But right now, owning a home still appears to be a financially-sound choice for those who can afford it.” Bottom Line If you’re considering buying a home this year, let’s connect today to discuss the options that match your budget while affordability is in your favor.

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Will Forbearance Plans Lead to a Tsunami of Foreclosures?

Posted By Yoshi Takita on January 13, 2021 in Investments

At the onset of the economic disruptions caused by the COVID pandemic, the government quickly put into place forbearance plans to allow homeowners to remain in their homes without making their monthly mortgage payments.

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The Importance of Home Equity in Building Wealth

Posted By Yoshi Takita on January 06, 2021 in Investments

Home equity, for most Americans, is the quickest way to build household wealth. That wealth gives homeowners more options during good times and in difficult situations.

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The Difference a Year Makes for Homeownership

Posted By Yoshi Takita on December 22, 2020 in Investments

Over the past year, mortgage rates have fallen more than a full percentage point, hitting a new historic low 15 times. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them.

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Hotel For Sale in the Suphan Buri District

Posted By Paul Xumsai on December 19, 2020 in Investments

Owners of the Khum Suphan Hotel have recently announced the sale of their hotel. The Khum Suphan Hotel has been a long-standing fixture within the Suphan Buri community for many decades.

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Homeowner Equity Increases an Astonishing $1 Trillion

Posted By Yoshi Takita on December 18, 2020 in Investments

In a year that was financially devastating for many Americans, some good news for most homeowners is the dramatic gain in home equity over the last twelve months.

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3 Reasons to Be Optimistic about Real Estate in 2021

Posted By Yoshi Takita on December 16, 2020 in Investments

We’re experiencing a global pandemic, social unrest, an economic downturn, and natural disasters, just to name a few. The challenges brought on by the health crisis have also forced many homeowners to reevaluate their space and what they need in a home going into 2021.

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US Real Estate News for Global Investors 11-16-2020

Posted By Yoshi Takita on November 16, 2020 in Investments

Tips to Sell Your House Safely Right Now [INFOGRAPHIC] Tips to Sell Your House Safely Right Now [INFOGRAPHIC] | MyKCM Some Highlights Your agent now has over 6 months of experience selling houses during the pandemic and can make the process easier and safer for you today. COVID-19 protocols and technology usage recommendations from the National Association of Realtors (NAR) are making it possible to sell houses right now, while agents continue to abide first and foremost by state and local regulations. Let’s connect to discuss how to sell your house safely in today’s housing market.

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Homeownership Is a Key to Building Wealth

Posted By Yoshi Takita on November 10, 2020 in Investments

For years, real estate has been considered the best investment you can make. A major reason for this is due to the net worth a household gains through homeownership.

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