The National Association of Realtors® (NAR) reports that the continuing change in transportation habits and patterns will affect the way we build cities, roads, and houses. And much of it is due to generational change. “In the 1990s, 95 percent of 16 year-olds had a driver’s license. Today, that number is just 76 percent,” said Chad Curry, director of Center for REALTOR® Technology at the National Association of Realtors®. “Today’s youth are already finding new ways to move around that don’t involve a privately owned vehicle.” And to add this …

Going forward, there definitely is good news. Due to rising home prices and an increase in homeowners, home equity is predicted to grow by $1.4 trillion in 2018, which brings net housing equity to over $15 trillion. Compare that to a decade ago — during the housing crisis — when housing equity was at just $6 trillion. However, the best that anyone can do when predicting business trends is take educated guesses. Here’s just a worthy few of them: New Housing Construction The U.S. real estate market belonged to the …

Dot-com is so 20th century. The National Association of Realtors® (NAR), in partnership with Second Generation, Ltd. is offering a domain called .realestate. It’s available for purchase through GoDaddy.com. The domain became available to NAR members for presale on November 16 and then offered widely on November 26. No restrictions are attached to the domain, allowing real estate companies, investors and other professionals to market properties and geographic areas served. “NAR is excited for GoDaddy and other registrars to formally recognize the international appeal of the .realestate domain,” says NAR …

The EB-5 program was designed for the real estate development industry to create jobs and feed local economies. According to Cornell’s real estate blog, “$3.8 billion accretion of the GDP, with $532 million paid in Federal taxes, and $371 million in state and local taxes” have resulted from EB-5 investments. However, as successful as the program seems to be, it faces controversy and an uncertain future. In order to qualify for the program, a person seeking United States citizenship must invest at least $1 million (in some cases, it’s $500,000) …

You wouldn’t think he would have a problem like this, but it just goes to show you. Investor and Berkshire Hathaway chairman Warren Buffett took a year and a half to sell his home in the gated community of Emerald Bay, California (a stone’s throw from Laguna Beach). However, the Wall Street Journal recently reported that, at long last, the property was sold — at nearly a third less than his original asking price. The house was built in 1936; Buffett purchased the property in 1971, for $150,000. It also …

Amazon — the little company that could — is now valued at just under $1 trillion, and accounts for nearly 50 percent of all U.S. e-commerce revenues. That’s roughly 5 percent of all retail, with about 55 percent of all online product searches starting with Amazon. With all these healthy numbers, there doesn’t seem to be much point for the company to look into old-school brick-and-mortar stores, yet Amazon is getting set to surprise the world once again. Its Amazon Go cashier-less convenience stores are increasing to 3,000 locations by …

It’s a maddening balancing act: existing-home sales remained flat in August 2018, after four straight months of decline, according to the National Association of Realtors® (NAR). The sales that were gained in the Northeast and Midwest canceled out the sales downturns in the South and the West. The definition of existing-home sales: completed transactions including single-family houses, townhomes, condos and co-ops. These sales did not change from July to August 2018, remaining at a seasonally adjusted rate of 5.34 million in August. From the same time last year (August 2017), …

Technology is changing the real estate industry from every angle, so you know it was only a matter of time before the best property offer would be given by a bot. An iBuyer company will make an offer on a property within minutes (or at least days) without visiting the site. The offer is based on a proprietary valuation model, and it could speed the closing process along considerably. Reasons for a seller considering an iBuyer could include needing quick cash, relocating due to changing jobs, an expensive divorce, having …

RentCafe recently singled out the American urban neighborhoods with the greatest percentage of Millennials as residents. This generation makes up 60 percent of submarkets in major cities like Chicago and New York. The study ranked the zip codes of the 30 largest U.S. cities by the highest increases in Millennial population over a five-year period. Data was taken from the most current U.S. Census population estimates. Not a surprise: downtowns and areas near downtowns were drawing the most Millennials. The study is divided into those locations with the most Millennial …

It’s a news item that was more or less off the radar for a while, then returned with a vengeance. Back in the 1990s, the North American Free Trade Agreement (NAFTA) was implemented with the intention of creating the world’s largest free-trade zone. That zone encompasses The United States, Canada, and Mexico, affecting 350 million people and a gross domestic product (GDP) of more than $6 trillion. This is meant to rival the Western European trading block. However, a new trade agreement was reached by the United States, Canada and …