2020: the next housing crisis, resilient agents, and a horse in the living room
Even as we’re still recovering from the last housing collapse, economists are forecasting the next crisis. Their best guess: 2020, as aging Boomers start leaving their giant suburban single-family homes for retirement living. The problem is there aren’t enough families in the following generations to meet demand, either because of finances or preference.
BloombergBusinessWeek has an interesting story this week on the rise (and so far mostly non-success) of Redfin, Zillow and Trulia. In looking at the internet startups that promised disintermediation, hollowing out the home buying experience as others had with travel agents, stock brokers and car dealers, the authors find that people still rely on the traditional agent for the largest purchase of their lives.
How can you spice up your listing photos? How about a horse in your living room? A REALTOR in Virginia helping to sell a $5.99-million horse farm is using a picture taken several years ago for a coffee table book that features the a horse standing in the stable apartment living room. The image was picked up by the Huffington Post, helping to generate some interest on the property.
The Bipartisan Policy Center released its blueprint for reform of the housing market. One suggestion is the elimination of both Fannie and Freddie, replacing the GSEs with a backstop guarantee much like GinnieMae does for FHA and VA loans. Some commentators feel this spells the end of the fixed rate 30 year mortgage as we know it.
We were shocked and saddened to learn about the man who died when a sinkhole opened up under his home in Florida. We wondered if homeowners’ insurance covers sinkholes. According to the Florida Department of Financial Services, it depends on the extent of damage. Standard homeowners insurance is required by law to cover “catastrophic ground cover collapse” but to qualify to that level, the home must be so damaged that it’s condemned. Luckily separate more general sinkhole coverage is available as an add-0n. Wondering if there are sinkholes in your neighborhood? A new service from Floodinsight will tell you for a small fee. You can also contact the Florida Geological Survey.
Samsung is set to unveil it’s new Galaxy IV phone later this month. CNN reports that some are speculating that the phone will have scrolling controlled by the users eyes. When you reach the bottom of the screen the phone will sense it and start scrolling the page for you.
You want to start a garden, but you don’t have a clue what to do. SproutRobot can help you. Sign up for free, and SproutRobot will create a personalized planting plan and send you seeds to plant. If only I had a yard!
North Korea’s been in the news lately. The latest dictate from Pyongyang: the country announced 28 approved haircuts for men and women. Interestingly, the current leader’s coif didn’t make the list…