Reality TV shows have energized everyday people to dive into the real estate market and make money flipping houses. The dramatic presentation and profitable end results make the industry seem like a sure thing. But house-flipping, like any industry, has its share of challenges.
Last week’s economic releases included readings on the NAHB Housing Market Index, sales of pre-owned homes, and housing starts. Weekly readings on mortgage rates and first-time jobless claims were also released.
Opinions differ about whether home buyers are best served by purchasing an older home or new construction.
Home builder confidence in housing market conditions stayed flat in September. The National Association of Home Builders Housing Market Index reported an index reading of 67, which matched expectations and NAHB’s housing market reading for August. Analysts cited recent tariffs on building materials as a significant cause of easing builder confidence.
Imagine the bank depositing monthly premiums into your account instead of you writing a mortgage check. That’s basically how a reverse mortgage works.