Should We Stop Freddie Mac from Buying 2nd Mortgages?
Wednesday, September 04
We are all aware that the GSE’s Fannie Mae and Freddie Mac buy a large share of mortgages. This is believed to help put liquidity into the home buying process by taking these loans off the books of banks and mtg companies. Now Freddie has started to purchase 2nd mortgages. There are some guidelin...
Why Are So Many Houses Bought with Cash?
Thursday, August 29
You hear these numbers about cash home purchases. This one jumped out to me. In April of 2024, 64% of homes sold in Manhattan were paid for entirely in cash. We know that cash is king, but that is a big kingdom. Where does all the money come from? Yes, there are a lot of people who spend less tha...
Fannie Mae 5% Down Multifamily Loan: A Double-Edged Sword
Thursday, August 22
In November 2023, Fannie Mae introduced a new policy allowing owner-occupant loans on 2-4 family homes with just 5% down, a significant change from the previous requirement of a minimum 15% down payment. One might think this would help first-time owner-occupant homebuyers enter the housing market...
Boommates: A New Housing Trend for Older Adults
Wednesday, August 14
Do a Google search for "Boommates" and you'll find references to the Golden Girls TV show and discussions about two significant issues older people face: the high cost of housing and loneliness. For younger people, we call this "house hacking," where someone buys a house and takes in roommates to...
Bussing, Cars, and Jobs in Worcester
Thursday, August 08
Let’s start with a few notable facts: - 26% of all renters in Worcester and 17% of residents citywide don’t own or have access to a private automobile. - In downtown Worcester, 41% of renters and 38% of all residents don't have access to a private vehicle. - Buses in Worcester became fare-free in...
The Value of Rooming Houses: An Affordable Housing Option
Thursday, August 01
Antonia Noori Farzan recently wrote a wonderful article in the Providence Journal about rooming houses. Though my real estate business focuses on multifamily housing, this topic resonates deeply with me. I remember talking to my father about why he lived at home after graduating from college in t...