The Latest in Homeownership

first_img September 3, 2018 3,537 Views Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Editor’s note: This feature originally appeared in the September issue of DS News, out now.From authoring Genworth Mortgage Insurance’s Weekly Economic Report to leading industry surveys for lenders, Tian Liu is responsible for tracking the U.S. and regional economic trends. Liu began his economics career in the Australian Treasury Department in 1997 and started covering the U.S. housing market with Cemex in 2007, where he was the Director of Economics responsible for economics and housing market analysis. In 2011, he joined Owens Corning to lead its economics team. Liu joined Genworth Mortgage Insurance as its Chief Economist in 2014. He holds a master’s in economics from the University of Chicago and an undergraduate degree in economics from the Australian National University.What are the factors impacting housing supply? Do you see this challenge continuing into 2019?Inventory shortage has been going on for many years and a couple of factors are responsible for it. First, there has been a very low level of construction so far that has recovered only moderately over the past few months. Secondly, we haven’t seen that V-shaped recovery we saw in past cycles, resulting in a wide gap between demand and supply.On the demand side, we are currently seeing a very strong housing demand partly because of the macroeconomic picture such as strong job growth that’s encouraging homebuyers to get back into the housing market. The millennial generation is also driving demand because they have reached an age where they are starting to have families.The third factor affecting inventory is the shortage of repeat buyers. If you look at the type of homebuyers, repeat buyers sell the unit they’re living in to buy another one, creating a lower impact on inventory. On the other hand, a first-time homebuyer is moving out of their apartment or their parents’ or friends’ homes to start a new household. So the drain on inventory is bigger from a first-time homebuyer.As a result of all these factors, while inventory is improving slightly with the rise in construction, more first-time homebuyers coming into the market, we don’t see a huge change in mitigating this challenge in 2019.How do current housing market trends compare to what we have seen historically regarding growth?The absence of a V-shaped acceleration in housing recovery is one of the main differences between this recovery cycle and the previous ones. We haven’t seen a broad-based recovery across all housing price points either. It has been strongest at the higher end of the price point, but looking at the lower end, such as homes below $200,000, the market segment hasn’t recovered as much.According to our First-time Homebuyers Report published in May, we’re seeing a significant increase in first-time buyers over the last three years. Between 2014 and 2017, there has been a 40 percent increase in that market segment. At the same time, the repeat buyer segment has barely budged and is largely squeezed out of the market. Therefore, as soon as we have an adequate supply in the market, we could see a reacceleration from the repeat buyers because these homeowners have stayed in their homes for a long time. And their home equity has accumulated over the last few years.Historically, when people accumulate a lot of home equity, they tend to upgrade their housing. But in this cycle, because of lack of inventory and competition from first-time homebuyers, they haven’t been able to do that.But we do see deceleration for the first-time homebuyers. This segment has seen such a tremendous growth in the last three years partly because of catch-up in the delayed household formation after the housing crisis. And partly because of demographics, such as the millennial homebuyers.What are the drivers to get more millennials into the housing market?The first driver is educating millennials on their borrowing options. One myth that we continue to see in the market is that you need a large amount of down payment to become a homeowner. For example, many first-time homebuyers are unaware that with a conventional mortgage, you can go down to as little as 3 percent down payment. Today, FHA loans are the most popular option for first-time homebuyers and are in fact the largest product for this segment, followed by conventional loans with mortgage insurance. The latter is the fastest-growing market segment in the mortgage industry. That’s a very important driver because we have seen that down payment and getting a mortgage loan are some of the biggest hurdles faced by first-time homebuyers.Secondly, it is important to educate millennials about the housing options available for them and what will suit them in the long- and short-term. For example, If they’re planning to stay at a location for a short period then it is better to rent. However, if a buyer is thinking of starting a family and settling down then homeownership looks a lot more attractive, just because they have the appreciation in home prices working for them over a longer period.Prices are the third driver. Millennials are part of a large generation, and whenever you have a large generational cohort like this one coming into the market, they tend to compete against themselves and create a demand pressure that tends to drive up home prices. In that sense, it is better to buy early than later.How have homeownership trends changed regarding diversity over the past decade?There’s been an increased focus on thinking about how we can responsibly expand the credit box and make affordable products available to all current and prospective homeowners. We view this as a necessary step towards continuing to drive America’s housing market, which is central to our country’s economy.What can we expect from the market moving to the last quarter of 2018?Inventory will remain a challenge for the rest of the year and will likely be flat by the end of 2018. An important exception will be the strong sales of new homes, which will continue to increase between 10 percent and 15 percent as homebuilders increase their production. Regarding home prices, we will continue to see a 6 percent to 7 percent home price appreciation, partly because of strong demand and also because we still don’t have as much new construction as we should.The increasing costs for home builders from the tariffs that have been imposed have become more and more relevant to the overall housing market in the last few months and are contrary to what we want to see from policymakers, which is making housing more affordable.Regarding homeownership, we expect 1 percent increase year-over-year for the rest of 2018, with the recovery being the strongest among young households that ties into millennials coming into the housing market. Related Articles The Latest in Homeownership Demand Propels Home Prices Upward 2 days ago Previous: The Industry Pulse: Updates on Ellie Mae, RoundPoint Mortgage, and More Next: The Lasting Impact of Hurricane Harvey on Housing in Daily Dose, Featured, News, Print Features Home / Daily Dose / The Latest in Homeownership Demand Propels Home Prices Upward 2 days ago Tagged with: FHA Home Homebuyers Homeowners HOUSING loans mortgage Salescenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily FHA Home Homebuyers Homeowners HOUSING loans mortgage Sales 2018-09-03 Radhika Ojha Share Save  Print This Post Subscribelast_img read more

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The Funniest Things Overheard at Lockn’ Festival 2016

first_imgWith thousands of people descended upon the Oak Ridge Farm for the Lockn’ Festival in Arrington, Virginia over the weekend, hilarious comments were bound to be overheard. Though music by so many great live musicians took the spotlight at the festival, the crowd that formed over the weekend provided a true sense of community.As part of our ongoing “Overheard At” series, we present to you the funniest things uttered at this year’s Lockn’. What were some of your favorites? Be sure to let us know!“As I was dropping someone off at Will Call, a guy asked me if I knew where Will Call was.”“My feet aren’t really working but they’re working great.”“It may be a Phish but it’s not a Herring!”“I’m guessing a Zero encore, as in no encore” (Right before Phish encored with Character Zero)“A gal was fishing an IPA out of her shorts after passing security. Five guys watching. One comments, ‘Congratulations you just birthed an IPA.’”“You don’t realize how many people are behind us til you turn around and look.” After a Derek Trucks solo: “There should be a prescription required for that.”Overheard on the lot waiting to get in Thursday at 6 AM: “Lockn is just waiting and weirdness, my friends. Waiting and weirdness.”“Ice cold handjobs here! Get your ice cold handjobs here.”“That’s definitely the last time I boof altoids”“We can play spirit sticks with these glowsticks!” “What do you normally use?” “Regular sticks.”“Can somebody please tell me what I’m looking for?”“I have a wook timer. 10 minutes.”“Get your vegetarian hot dogs here! all beef!”“Extra Brown, those jam band hippies didn’t know what to do with the Poopship.”“I didn’t come here to be sober you mfers!”“If I want to park, do I have to buy a parking pass?”“If it says gates at noon, does that mean the gates OPEN at noon?”“I don’t know where my sweat ends and the world’s moisture begins.”“Are those wooks holding onto each other’s dreadlocks?”Guy says to his girl, “what the hell is a fried burrito any way?”  Some random guy walking by, in his best Cheech voice replies, “Das a chimichonga, man.”“Yo dude, where’s your pot? Not your weed, but your pot. I want to cook something.”“A dude passed out, man. … while Trey was shredding.”Me to my friend: “Remember last year when…” Random stranger interrupting: “No one remembers last year, man.”At Circles Around The Sun: “I think the theme of this set is ‘people who took acid for Phish need a place to go.’”Getting out of a car in the day lot, first day, and the very first thing heard from someone in a schoolgirl voice: “Have you thought about synthetic urine?”“Some of the portapotties have hand sanitizer and some don’t. You could say it’s a real crapshoot.”“How do you tell a wook to go home at the end of a festival if its home is the forest?”“Fuck yeah! This shit is great!” Someone asked if “things were kicking in.” Guy replied, “No this shower. IT’S FUCKING GREAT!”To the tune of a Hot Pockets commercial: “Hot Lockn.”“Someone pooped in my cooler.”“This rice ball is like a mozzarella stick and a pizza had a love child.”“I feel like I’ve spent the past three days in a hot yoga studio 24/7.”Three people at the water tank on Blue Ridge Lane: “Someone look up what potable means.”“You guys, listen. I just really need some AC and cocaine right now.”New vocabulary word: redneck loofah (wet wipe on a stick).“If music could take a dump, it would sound like Ween.”“After this whole day of amazing music, I have one song stuck in my head: ‘Freeze Frame.’ Damn you Peter Wolf!”“I hate when people make glowstick orbs with random colors. Pick a theme goddamnit!”“Is acid kosher? Because it’s Friday night and I’m about to eat a whole bunch of it.”Posted on a sign: “Official Lockn booby painting. Two thumbs up from Nelson County sheriffs”A girl walking past after My Morning Jacket on Saturday night stating she had taken not 1 not 2 not 3 but 4 SHOWERS!“We got a piñata full of drugs!”“I probably shouldn’t risk this at a music festival.”“Where’s my wallet?! I have a bunch of opium in it.”“We were selling stickers and a dude asks my 10 year old if he could get one for a dollar. She looked him square in the eye and informed him, ‘this isn’t the dollar tree.’”Overheard while waiting for JRAD on Friday night, after hearing the same Motown CD forever on loop when they started a half hour late: ” Where are these guys? I’ve had enough of Sweatin’ to the Oldies.”“A guy asked to trade shoes with me because his feet hurt.”“No ducks, no deal.”“Two stoners in the hammocks next to me ruminating on how they lacked the motivation to go get more weed.”“Whatever you do, take care of your shoes… That’s why I wear sandals, they take care of themselves.”“I don’t know about Krishna but these beads are fucking killin’ it.”“I’m carrying a fully cooked hot dog, in a bun, in my bag for when I get hungry.”“I’m about 75% sure there’s not acid on those gummy worms. I can’t remember.”“I’m good man. I’m still fucked up from last year.”last_img read more

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Fifty up for Harry Cobden at Huntingdon | Racing News

first_img– Advertisement – “I always try and aim to ride 50 winners by January – so to get 50 by November is pretty good,” said the 22-year-old.“I’m just looking forward to the rest of the season. Hopefully I can stay in one piece and keep on rolling.“If we get March out of the way and I’m still there then it will be all guns blazing.- Advertisement – “He enjoys a flat track, and all of his wins have come on them. I’d like to think the better the race, the faster they go, the more he will relax.”Master Tommytucker (4-5) got his chequered career over fences back on track – to get the ball rolling for both Cobden and Nicholls in the Download The tote App Intermediate Chase.Having fallen in three of his previous five starts over fences, the lightly-raced nine-year-old put in an immaculate display of jumping to defeat his sole rival Precious Cargo by 12 lengths.Derham said: “He didn’t have to have too much of a hard race there, which was nice. There is no doubt the engine is there – it was just a case of getting rid of those jumping errors.“He will go to Haydock now, because there is a two-and-a-half-mile graduation chase there on Betfair Chase day, and it is worth quite a bit. “Having had to come to terms with the loss of Namib Dancer after his fall earlier in the card, trainer Emma Lavelle had her spirits lifted after Dollnamix struck at the 15th attempt in division two of the Download The tote App Handicap Hurdle.Speaking away from the track, she said: “It is just the ups and downs of racing for you. Neither the horse or owners deserved that.“I think Namib Dancer had a heart attack. He was doing everything right, then three or four strides before the hurdle (jockey) Aidan (Coleman) said he knew what was coming.”On her 100-30 winner, Lavelle added: “Dollnamix has thrown a few races away before – but he has done everything right today, and that will do his confidence the world of good.”Eileendover (28-1) saved the best until last when running out a facile 29-length winner on her debut in the tote.co.uk Ten To Follow “Junior” Standard Open National Hunt Flat Race.Winning trainer Pam Sly said: “She worked with one of my other useful ones Takeit Easy the other day – and I thought ‘that will do!’.“She was supposed to run on the Flat but had problems with the stalls, but it’s a good job I didn’t go down that route now.“I suppose we will look at getting some black type now.” “This year is different to any others, because those that normally get 100 winners on the board early haven’t, so this season is a good one to give the title a go.”Victory for the 2-1 favourite, who obliged by a neck, was compensation for defeat on last month’s seasonal return at Cheltenham – where he suffered interference at a crucial stage when still holding every chance.Nicholls’ assistant Harry Derham said: “I was little nervous he was doing a fraction too much – he has almost travelled too well, because he has a lot of pace.- Advertisement – Harry Cobden is just one winner behind Jump Jockeys’ Championship leader Brian Hughes after a double at Huntingdon, highlighted by his 50th success of the season aboard Wild Max.Cobden continued his fine run of form on the five-year-old in the Download The tote App Michaelmas Hurdle, which was the third leg of an across-the-card four-timer for trainer Paul Nicholls.- Advertisement –last_img read more

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Stranded foreigners in Boracay board sweeper flight to Manila

first_imgKALIBO, Aklan – Some stranded tourists in the world-famous BoracayIsland in Malay, Aklan were able to return home after few weeks of travelrestrictions under enhanced community quarantine imposed in this province in abid to curb the spread of the coronavirus disease 2019. Last March 31, some 129 Russians who were stranded in Boracay Islandwere repatriated to Vladivostok, Russia from the Kalibo International Airportwith the help of the Department of Foreign Affairs and the Civil Aviation Authorityof the Philippines.(With a report fromAkean Forum/PN) Different embassies are working tirelessly with the Philippinegovernment to arrange special and humanitarian flights for their strandedcompatriots in going back to their respective countries. Meanwhile, Malay Municipal chief operations officer Felix Delos Santossaid there are still foreign nationals in Boracay Island who are waiting fortheir repatriation flights. Majority of them were Australians who are bound to return to Australiancities Melbourne, Sydney and Brisbane.center_img The travellers will be required to undergo a 14-day mandatory homequarantine at designated facilities in their respective countries upon arrival. On April 18, 31 tourists from Australia, Austria, Canada, Netherlands,South Korea, Spain, and the United States were given the green light to board asweeper flight to Manila. These Australian tourists stranded in Boracay Island in Malay, Aklan due to the coronavirus disease 2019 outbreak board a sweeper flight to Manila on April 18. Malay Municipal chief operations officer Felix Delos Santos said there are still foreigners in Boracay who are waiting to be repatriated to their respective countries. AUSTRALIA IN THE PHILIPPINESlast_img read more

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