October 19, 2017
- Fannie Mae’s, Economic and Strategic Research Group released their October 2017 Economic and Housing Outlook (EHO). According to their study, the hurricanes which hit the Nation’s southern coasts did not negatively impact the economy as anticipated. Though there were decreases in residential investment and spending, business investment and trade balanced the decline. Further, October’s EHO projects mortgage loan rates will increase one additional time, likely in December.
- It seems as if the political demographics of neighborhoods are changing. A study by Redfin found that 7.4% more people moved out of blue counties while red counties experienced a move-out percentage at 1% in the first half of this year. Nela Richardson, a data analyst at Redfin, cites affordability of blue counties as the cause for the shift in the neighborhood dynamics. Further, the states most affected by the affordability issues in blue counties are Colorado, Oregon, and Washington while Louisiana, New Mexico, and Indiana are not experiencing the same issues regarding blue counties’ housing costs increase.