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Author: Swapna Venugopal Ramaswamy, USA TODAY

Money

In shocking reversal, mortgages proved poor investment for banks that lost money on home loans

April 13, 2023April 14, 2023 Swapna Venugopal Ramaswamy, USA TODAY Comments Off on In shocking reversal, mortgages proved poor investment for banks that lost money on home loans

Loan volumes in 2022 were 50% down compared with 2021. Meanwhile, producing a loan got more expensive.

Money

Rent is the ‘largest contributor’ to inflation. See where it is going up (or down)

April 12, 2023April 13, 2023 Swapna Venugopal Ramaswamy, USA TODAY Comments Off on Rent is the ‘largest contributor’ to inflation. See where it is going up (or down)

While consumers paid less for gasoline and grocery housing costs went up 8% during the same time period.

Money

Staycation for the win? Vacation home sales are down 50% from pre-pandemic levels

April 11, 2023April 14, 2023 Swapna Venugopal Ramaswamy, USA TODAY Comments Off on Staycation for the win? Vacation home sales are down 50% from pre-pandemic levels

Once the hottest housing segment, the demand for vacation homes was plummeted amid high interest rates and economic uncertainty.

Money

Manhattan population grows as other major New York counties see a decline

April 9, 2023April 9, 2023 Swapna Venugopal Ramaswamy, USA TODAY Comments Off on Manhattan population grows as other major New York counties see a decline

The reversal in population losses was particularly notable in King County, Washington, home to Seattle; as well as in large Sunbelt counties.

Money

Commercial real estate is headed for a crisis worse than 2008, Morgan Stanley analysts say

April 7, 2023 Swapna Venugopal Ramaswamy, USA TODAY Comments Off on Commercial real estate is headed for a crisis worse than 2008, Morgan Stanley analysts say

More than half of the $2.9 trillion in commercial mortgages will be up for refinancing in the next couple of years, according to Morgan Stanley.

Money

Home prices rose in February after months of decline as low inventory met high demand

April 6, 2023April 6, 2023 Swapna Venugopal Ramaswamy, USA TODAY Comments Off on Home prices rose in February after months of decline as low inventory met high demand

Driven by a combination of moderately declining mortgage rates earlier in the year along with low inventory levels, home prices rose 0.16% in February

Money

How Hispanic homeownership became a ‘driving force’ shaping the housing market’s future

April 5, 2023April 7, 2023 Swapna Venugopal Ramaswamy, USA TODAY Comments Off on How Hispanic homeownership became a ‘driving force’ shaping the housing market’s future

Hispanic homeownership: It makes business sense for the housing industry to pay attention to this growing demographic, experts say.

Money

Does homeowners’ insurance cover tornado damage? How to prepare before a disaster

March 28, 2023March 28, 2023 Swapna Venugopal Ramaswamy, USA TODAY Comments Off on Does homeowners’ insurance cover tornado damage? How to prepare before a disaster

Homeowner’s insurance policies also provide coverage for additional living expenses to finance temporary housing costs and other daily necessities.

Money

Housing market is ‘overly sensitive’ to Fed rate hikes. Experts weigh in on what’s next.

March 22, 2023March 22, 2023 Swapna Venugopal Ramaswamy, USA TODAY Comments Off on Housing market is ‘overly sensitive’ to Fed rate hikes. Experts weigh in on what’s next.

The housing market has been overly sensitive to what the Fed has done with interest rates, both when they’ve been high or low.

Money

Home prices are finally declining, ending longest streak in growth. Who are the homebuyers?

March 21, 2023March 22, 2023 Swapna Venugopal Ramaswamy, USA TODAY Comments Off on Home prices are finally declining, ending longest streak in growth. Who are the homebuyers?

Existing-home sales reversed a 12-month slide in February while home prices fell year-over-year, ending the longest price growth streak on record.

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