Broker Products; Trends in Condo Lending; Lower Rates Ahead?

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Posted To: Pipeline Press

I was in Park City, Utah recently, and the real estate agents gave me an interesting statistic: it is believed that 80% of the land and buildings are owned by people or companies who live outside of the area. A large number of those are condominiums (more condo news below), with prices ranging below and above Houston’s newest high-rise condo development (with prices starting at $1.5 million ). Park City development is limited due to the mountains, zoning, and neighborhood outcry. Interestingly, only four states gained more than 50,000 housing units between 2017 and 2018, per the U.S. Census Bureau: Texas (172,000), Florida (108,000), California (104,000) and North Carolina (63,000). But it was actually Utah that was the fastest-growing state in terms of housing units, with an increase…(read more)

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