“More than half of all U.S. department stores in malls will be gone by 2021… At the Alderwood Mall in Lynnwood, a suburb north of Seattle, an adaptive reuse project already in progress suggests that America’s vast stock of fading shopping infrastructure could indeed get a second life as places to live. Such transformation could even bring malls closer to the “village square” concept they were initially envisioned to become.” Bloomberg reports The Dying Mall’s New Lease on Life: Apartments.
2. MORTGAGE LOWDOWN
CNBC reported this week “Mortgage applications to purchase a home rose 5% for the week and were a remarkable 33% higher than a year ago, according to the Mortgage Bankers Association’s index, which was seasonally adjusted, including for the Fourth of July holiday.” Homebuyer mortgage demand spikes 33% as rates set another record low.
3. BACK WITH A VENGENCE
6 Reasons Why This Is Actually the Best Time in Years To Sell a House. “So if you’re a home seller who assumed they should write off this summer’s home-selling season as a lost cause, it’s time for a reality check! Here are a few reasons why the market could actually be moving strongly in your favor.” Realtor.com quotes Matthew Gardner, the chief economist at Windermere Real Estate who says “demand is strongest right now in the suburbs and in smaller, cheaper cities—as buyers look to escape the biggest metros and more companies follow tech titans like Google, Amazon, and Microsoft in allowing employees to work remotely for the foreseeable future.”
4. EVICTION CONVICTION
CNBC Make It reports 32% of U.S. households missed their July housing payments. Here’s the breakdown, “About 19% of Americans made no housing payment at all during the first week of the month, and 13% paid only a portion of their rent or mortgage.” Do you think there should be a uniform, nationwide eviction moratorium that covers all renters?
5. PIT OF FIRE
Here is the National Association of Realtors suggestions for 7 Summer Trends for Creating Cozier Backyards. “Homeowners and buyers are placing greater emphasis on yard appeal this year. Google Trends data reveals frequent internet searches for how to enhance outdoor space. Living Spaces, a home décor retailer, recently highlighted several outdoor trends that consumers are searching for the most on Google this summer. Here are some of the hottest.” If you’re a Realtor post any of the articles above on your social media accounts. Your clients will appreciate it!