Aramco Report

The Blog
Bold, new rent control law passes in Calif.

Lawmakers in California last week approved a statewide limit on annual rent increases for most tenants. This sweeping mandate is the latest step to curb rapidly rising rent prices in the State. Specifically, the new law, which would become retroactively effective as of March this year, caps annual r...

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Fall comes early for the housing market

Realtor.com reported this week that home prices fell 1.8 percent in August, unordinary for a month that traditionally still sees summer homebuyers clamoring over real estate. “What it tells us is, fall came earlier than expected,” said Senior Economist George Ratiu of Realtor.com. A lot of homes on...

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Foreclosures see uptick last month

The number of foreclosure filings in the U.S. increased four percent from July to August with the addition of 53,007 properties nationwide. That equates to approximately one in every 2,554 properties. Despite last month’s increase, overall filings remain 24 percent lower than they were a year ago....

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Rent vs. Buy index lopsided in California

The rate at which home values are increasing across the nation has slowed significantly over the past year and many experts anticipate this trend will continue for the foreseeable future. Over the past year as potential homebuyers found prices beyond affordable levels, demand declined, resulting in...

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Pleasant weather comes with a premium

Paying for sunshine is one way to look at it. In an analysis of federal weather data, Zillow estimated the number of “pleasant days” per year for every city in the U.S. The result of the analysis confirm the conventional wisdom: regions with the best weather also tend to be more expensive places to...

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Calif. rent control law could have enforcement issues

Last week, California became one of only three states in the Union to impose statewide rent control. Oregon enacted rent controls in March and New York began limiting annual increases on a statewide basis in June. While the measure won the favor of leases across the state and even the California Ap...

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Calif. home sales finally see an increase

It’s been a long-time coming, but the California housing market finally saw an increase in home sales in July. For the first time in a year, CoreLogic reports that 42,432 new and existing homes and condominiums in California exchanged hands in during the month, a 5.1 percent increase from June and 1...

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Mounting debt keep needle from moving on home-ownership

Share The high cost of living alone would be enough to keep many American households from being able to afford a home. When combined with credit card payments, student loan debt and stagnant wages, the obstacles on the road to homeownership become seemingly insurmountable. In a new survey conducted...

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Home building climbs to highest level in 11 years

The Commerce Department announced last week that home building in the U.S. increased in August to its highest level since June 2007. Home construction has lagged behind demand for new homes for several years resulting in skyrocketing home prices. This latest data is a positive mark on the overall ho...

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Home flipping in U.S. climbs in Q2

The number of investors in the U.S. flipping homes for a profit climbed during the second quarter of 2019 but data suggests that the practice is growing less profitable. ATTOM Data Solutions released its Q2 2019 U.S. Home Flipping Report last week which showed 59,876 single-family homes and condos w...

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