There are so many real estate articles out there — and so little time! For busy investors looking to take a quick reading break, look no further than our list of recommended reading for the week. From advice and investment tips to market reviews, we’re highlighting the stuff that’s really worth your time.
So sit back, and take a break. These were the 5 Must-Read Real Estate Articles of The Past Week:
By C.J. Hughes via The New York Times
A block without construction seems to be the exception rather than the rule these days, as scaffolding, sidewalk sheds and tall cranes have become almost as common a sight as pigeons on the streets of New York. And like those birds, the building boom isn’t universally loved. A loud howl seems to erupt every time a shovel hits the ground, and often well before that moment. As apartment houses multiply, residents are taking aim at the disruption caused by construction, the uprooting of cherished institutions, the buildings’ designs and the ever-higher prices attached to the housing that they fear will alter neighborhoods fundamentally. Many of these detractors aren’t sitting on the sidelines, either. They are phoning City Hall, filing lawsuits and staging protests to try to stop, slow or at least influence construction.
By Patrick Clark via Bloomberg
How bad can rental affordability in the U.S. get? Even worse. That’s pretty bad. The number of U.S. households that spend at least half their income on rent—the “severely cost-burdened,” in the lingo of housing experts—could increase 25 percent to 14.8 million over the next decade. More than 1 million households headed by Hispanics and more than 1 million headed by the elderly could pass into those ranks. Households shouldn’t spend more than 30 percent of income on housing, by the general rule of thumb. The grim figures come from a report out today from Enterprise Community Partners, an affordable-housing nonprofit group, and Harvard’s Joint Center on Housing Studies. To reach their conclusions, the researchers considered various scenarios for wage and rent growth over the next decade.
By Ruth Bloomfield via The Wall Street Journal
Even with $1 million, a buyer coming to real-estate broker Eyal Hartogs looking for a waterfront home would have to settle for a modest one-bedroom apartment measuring a mere 200-square feet. But Mr. Hartogs isn’t based in London or the Hamptons. This is Tel Aviv. “People who come for the first time think we have gone crazy,” said Mr. Hartogs, owner of Holland Real Estate. But property prices in Tel Aviv have increased by 84% since 2008, rising 10.19% last year alone, according to Israel’s Central Bureau of Statistics. Which means the average sale price ranges from around 7,500 to 9,300 shekels, or $1,850 to $2,300, a square foot. Wealthy Israelis have long gravitated to Tel Aviv’s cosmopolitan atmosphere, but this old money has more recently been joined by young entrepreneurs who have made their fortunes in tech startups, a major growth sector in Israel.
By John Farley via Inman.com
Cyber risk has become a national conversation as high-profile data breaches at major retailers and banks have forced organizations across multiple industries to take a hard look at their potential vulnerabilities in network security and privacy liability. While the real estate industry is usually not categorized as high-risk, that could change. Real estate professionals routinely obtain, store and transmit personal client information, including Social Security numbers and financial records. This data is often collected from credit reports, rental applications, leases and rental agreements. Collecting personal information imposes legal duties on the real estate industry to safeguard it.
By Diana Olick Via CNBC
The high drama leading up to and following the Federal Reserve’s decision not to raise interest rates had mortgage borrowers and their lenders busy last week. Total application volume surged 13.9 percent on a seasonally adjusted basis for the week ended Sept. 18 versus the earlier week, according to the Mortgage Bankers Association (MBA). The previous week had an adjustment for the Labor Day holiday. “We saw significant rate volatility last week surrounding the FOMC meeting, and rate declines toward the end of the week likely drove applications from both prospective homebuyers and borrowers looking to refinance,” said Mike Fratantoni, MBA’s chief economist.
Did you like these articles? What were your favorite articles this week?