Real Estate News 12/02/2024

Today’s News Synopsis:

During his second term, President-elect Donald Trump is widely expected to privatize Fannie Mae and Freddie Mac, the mortgage giants that guarantee 70% of America’s mortgages.

In The News:

CNN – “Trump may renew a housing fight that could rattle mortgage rates“ (12-02-24)

“Amid a housing market marked by stubbornly high mortgage rates, a long-standing supply shortage and soaring home prices, some economists warn that privatizing these two mortgage behemoths, worth a combined $146 billion as of the third quarter of this year, would be overly complicated and could make it more expensive for many Americans to borrow money to purchase a home.”

NAR – “Americans Are Moving, But Not for a Job“ (11-25-2024)

“NAR’s 2024 Migration Trends report reveals consumers’ motivations for relocating and which states are gaining the most new residents.”

Yahoo Finance –  “Home contract activity jumps for third straight month as consumers shrug off higher rates“(11-27-24)

“Home contract signings rose in October for the third consecutive month as homebuyers took advantage of growing inventory levels and shook off higher mortgage rates.”

NAR –  “How AI-Powered Real Estate Agents Are Dominating the Competition” (11-21-24)

“The real estate industry is navigating a watershed moment, shaped by a convergence of several critical pressures that are forcing a reevaluation of traditional practices.”

Kiplinger –  “What Is Capital Gains Tax Deferral?” (12-02-24)

“Capital gains tax deferral is like hitting the pause button on your tax bill. Instead of paying taxes on your profits right away, you can push that obligation into the future. ”