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Wednesday, December 2nd, 2020

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Posted by: | Posted on: December 2, 2020

This Is How Much Home Prices Will Rise

Few will be reluctant to say goodbye to 2020. With vaccines rolling out, the days of the deadly pandemic that bludgeoned the nation’s economy seem to be numbered. Good riddance! But the soaring home prices that became a hallmark of the COVID-19 crisis may be here to stay.

Realtor.com®’s 2021 housing forecast predicts record-high prices will continue rising in 2021, delivering a blow to first-time buyers and those on a budget. Mortgage interest rates, which hit historic lows this year and helped fuel the go-go growth in U.S. housing markets, are also expected to tick up again, making monthly housing payments ever more expensive.

So folks shouldn’t hold their breath for a bargain.


However, the pace of the wild price growth seen in 2020 will slow. Prices are expected to jump 5.7% next year as a result of more properties forecast to hit the market, particularly in the second half

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Posted by: | Posted on: December 2, 2020

Developer Aims to Raise $1 Billion for Investing in Minority Communities

A California developer is trying to raise $1 billion to invest in Black and Latino communities. If successful, it would be one of the largest commercial real-estate funds ever to focus on minority neighborhoods.

Martin Muoto, chief executive of the real-estate firm SoLa Impact LLC, already runs three funds totaling $180 million. They focus on affordable housing and some commercial real estate in minority neighborhoods around South Los Angeles. The funds, which raised money from individual partners in large investors like the private-equity firm General Atlantic, have recorded double-digit average annual returns since the first fund launched in 2014.

Now, Mr. Muoto is trying to use a similar approach in cities across the U.S. that suffer from a shortage of affordable housing and from what he said are regulatory barriers that make it tougher to build. His new Black Impact Fund is focusing on large metropolises like Philadelphia and Atlanta,

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