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Wednesday, March 25, 2015

87% of Singapore Owns a Home

Real-estate statistics

The number of people who are owners-occupiers of homes in Singapore is a cause for wonder: a staggering 87% of the population owns their own homes.
This literally means that Singapore has achieved the unique feat of having housed all its citizens of more than 3 million people! 
Image result for flag of singapore picture
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Nat'l Real Estate Post:
.........over the past 5 years, rents have increased by 15% whereas income has only increased by 11%.
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Shared in Home Design by Magly.  Gumno House is a private residence located in Risika, Croatia.

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Sales of previously owned homes fell short of a 5 million annual rate in February for a second month, showing an industry struggling to gain traction amid rising prices and a lack of inventory.
Closings, which usually take place a month or two after a contract is signed, rose 1.2% to a 4.88 million annual rate, the National Association of Realtors reported Monday in Washington. The median value of a house climbed 7.5% from the same month last year while the number of properties on the market was little changed.
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Nat'l Real Estate Post:
Home loan amounts are growing faster than home values.  Mid range and low end borrowers are either being intimitated from or are afraid to try to borrow.  And credit values are too low.
http://thenationalrealestatepost.com/loan-amounts-outpacing-home-values/?
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Shared by Francesco Del Santo .Pisa, Italy.
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From HUD:
The median sales price of new houses sold in February 2015 was $275,500; the average sales price was $341,000. The seasonally adjusted estimate of new houses for sale at the end of February was 210,000. This represents a supply of 4.7 months at the current sales rate.
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  • The benchmark 30-year fixed-rate mortgage fell to 3.8 percent from 3.81 percent last week, according to the Bankrate.com national survey of large lenders. One year ago, that rate was 4.5 percent. Four weeks ago, it was 3.99 percent. The mortgages in this week's survey had an average total of 0.29 discount and origination points. Over the past 52 weeks, the 30-year fixed has averaged 4.24 percent. This week's rate is 0.44 percentage points lower than that 52-week average. Excluding the week before last, the last time the 30-year fixed was lower was the week of May 22, 2013, when it was 3.74 percent.
  • The benchmark 15-year fixed-rate mortgage fell to 3.13 percent from 3.18 percent.
  • The benchmark 5/1 adjustable-rate mortgage stayed at 3.19 percent.
  • The benchmark 30-year fixed-rate jumbo rose to 4.02 percent from 4.01 percent.
  • by Polyana de Costa for Bankrate.com http://www.bankrate.com/finance/mortgages/mortgage-analysis.aspx

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    Shared and taken by Pasi Hortoma, somewhere in Finland
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    New-home sales soared almost 8% in February as a snowy winter month failed to deter buyers as expected.
    Sales of single-family homes rose to a seasonally adjusted annual rate of 539,000, up 7.8% from January, the Commerce Department said Tuesday. That dwarfed economists' median forecast for a 470,000 annual rate and a small monthly decline, according to Action Economics' survey before the report.
    Instead, January's sales rate also was revised up to 500,000 from 481,000 previously reported.
    Doug Carroll in USA Today
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    Banks to CFPB: Tear Down This Rate Calculator

    Lending groups are demanding the Consumer Financial Protection Bureau take down its mortgage rate calculator, arguing it is providing misleading information to consumers.
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    Shared and taken by Luis Armando Oyarzun, Bariloche. Centro Cívico.  ( In Chile I think)

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