Homebuilders, lenders are 'being more conservative' to avoid 2008 repeat: Marcus & Millichap CEO
U.S. homebuilders and lenders are to blame for the country's housing shortage, Marcus & Millichap CEO Hessam Nadji said.
The U.S. housing shortage may be frustrating consumers, but the housing market is in a "very healthy state" compared with a decade ago, Marcus & Millichap CEO Hessam Nadji said Friday. There were about 1.66 million homes on the market at the end of November, which the National Association of Realtors says is the lowest on record for the month. Supply is down 5.7% from the year prior. When low supply meets high demand, prices surge. The median sales price for existing homes came in at $271,300 last month, which is also a record-high reading by the realtors association.
However, Nadji argued that the real estate industry could be considered the "turnaround story of the last half century."
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This Anti-Aging Eye Cream Is Made with Caffeine, and People Say It Makes Their Under-Eye Bags Disappear“Within a week I noticed a huge difference — I am sold for life.”
Read more »
How Okta's CEO convinced his wife in 2008 that he should leave Salesforce to start a companyIn the middle of the recession, Okta co-founder Todd McKinnon wrote a detailed presentation about why it was time to leave Salesforce for his new start-up.
Read more »
David Chang’s New Vegas Restaurant Is His Biggest Ever—and More's ComingMajordomo Meat & Fish opens December 30, with a forthcoming back-room 'meat house,' soundproof karaoke dining room, and funky counter-service offshoot called Moon Palace—it's 'one of the most insane things we’ve ever tried to do,' says Chang.
Read more »
Tesla secures $1.29 billion loan from Chinese banks for Shanghai factoryTesla Inc entered into agreements with lenders in China for a secured term loan ...
Read more »
My Husband Is a Better Person Than I AmDid I really do so little for others? Why did someone selfless want to be with me, an apparently selfish person? Had I tricked him? Did he know who I really was? I spiraled, as I often do, but this one took me deeper
Read more »
How Kevin Garnett became the secret weapon of 'Uncut Gems''Anything is possible.' Those famous words from NBA legend Kevin Garnett after his team won the 2008 championship could also…
Read more »