What I found interesting about this article is that the pandemic has society in a travel mode, causing for more commercial property to be build and commercial market to boom. The real estate market for commercial property has been booming since last year, analytics have predicted for an increase this year as well. Commercial property has been incurring rising interest rates because of the demand in the market and supply shortages which is slowing down development of commercial property being built, is involve in this matter. Investors are worry that high interest rates and higher borrowings are stopping their rich- investments opportunities.
What I found interesting about this article is that renters in Cincinnati have less of a chance to own homes because of large firms owning properties. Large firms owning homes in Cincinnati has grown over the past decade, making it harder for residents of Cincinnati to own homes due to high renting prices and a lack of firms allowing for renters to buy their homes. Many of the residents cannot afford to keep up during pandemic. Other cities like Oakland in California, have firms offering lease to own contracts for their current renters. In my opinion, Cincinnati firms who bought homes should allow their renters a chance to lease to own the homes to reduce the wealth inequality.
What I found interesting about this article is the recommendations to realtors to maintain their professionalism by focusing on and following the National Association of Realtors (NAR) Code of Ethics. When you are dealing with buyers and sellers you can cross an ethical and legal line without realizing it. Very good advice is given such as do not make decisions for your client, when in doubt disclosure is best, give facts not opinions, focus on the transaction and do not give legal advice. I work as a real estate paralegal, and I am always asked “what would you do”. I usually respond, I cannot make decisions for you only relay legal advice from the attorney. The advice given is on point and can translate to everyone outside of the real estate arena.
4. Article: https://www.forbes.com/sites/fredpeters/2022/01/25/the-dream-of-homeownership-is-still-alive-what-to-keep-in-mind-before-pulling-the-trigger/?ss=real-estate&sh=6bd80634eea3Links to an external site.
What I found interesting about this article is that it clearly explained the reason that we have seen this real estate boom, most people know we are experiencing this boom but don’t understand the reasoning behind it. This article helped me understand clearly why the real estate market has become a seller’s market. Competition between buyers has led to multiple offers on the same properties; therefore driving up the market. Another reason I found this article interesting is that it still gives hope to buyers and gives them clear guidelines to help them through the process.
What I found interesting about this article is that it pretty much entails that the housing market is becoming unsustainable. With the disruptions to the supply chain, increased prices for lumber and building material, record high inflation, and rising mortgage rates, the average home buy is now getting squeezed into a situation in which buying a home becomes nearly impossible. And yet, they are incentivized to buy as soon as possible as it is only expected to only get worse, therefore making demand increase even more. Its almost like a giant snowball that cant be stopped, and it appears unsustainable
what i found interesting about this article is that less and less people are choosing to remodel there homes, for the first time in a while. This is interesting because it is becoming more and more expensive to buy a home, and so logically you would think people would choose to simply remodel their current home rather than buy a new one. Yet that is not what we are seeing, we are seeing less remodeling, and people are starting to be unable to able to afford new homes