š¤ Hazardous Housing Hotspots
Distressed Deals Dominate
In some parts of the country, the housing market looks like itās standing on shaky ground.
Buyers are feeling the heat in places like New Jersey and Illinois, where deals are harder to find, and affordability is a cruel joke.
Yet, if you look beyond these rough spots, you might discover some shining stars with big growth and steady demand.
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Take Austin or Riverside, for example. These cities are turning heads with rising mortgage activity, stronger job markets, and more folks moving in.
If youāre tired of tough luck in one spot, maybe consider hopping on a plane to someplace where the grass (and the mortgage rates) might be greener.
Of course, the rest of the real estate scene isnāt all sunshine.
Some big urban areas are eyeing a downward slope, boomers arenāt handing out cheap homes, and mortgage rates probably arenāt going back to those sweet lows we once knew.
In this edition of the AltReports:
ā ļø Housing Hazards
š Mortgage Metros
š Urban Uncertainty
š° Boomer Blues
šRate Realism
Video of the Week: How We Built a $45M Property Using Other Peopleās Money
Chart of the Week: Existing Home Monthsā Supply at All-Time Low
Podcast of the Week: If I Were Looking for Off-Market Deals in 2025, I'd Do This
Top 10 Most Vulnerable U.S. Housing Markets in Q3 2024
So, according to ATTOM Data Solutions, a bunch of unlucky counties in places like New Jersey, Illinois, and California are basically standing on a real estate time bomb.
High foreclosures, pricey loans, laughable affordabilityāthese hotspots are practically screaming, āAbandon all hope, ye who buy here!ā
Top 10 U.S. Metros with Purchase Mortgage Originations on the Rise
Surprise, surprise! Austin and Riverside are real estateās new prom queens, wooing buyers with shiny job markets, population booms, and not-totally-terrible interest rates.
If youāre looking for the next āitā spot for mortgages, apparently itās wherever tech bros and sunny vibes collide.
Housing Market Decline Concentrated in California, New Jersey, Illinois, and Florida
If youāre partying it up in dense urban areas of New York, New Jersey, or Illinois, congratsāyouāve won the prize for living in the riskiest spots for a housing crash.
Meanwhile, the smug southerners in Texas, Missouri, and Indiana are all like, āHousing crises? Never heard of āem.ā
Enjoy your overpriced city views while they cash in on growth and affordability.
A āSilver Tsunamiā Wonāt Solve Housing Affordability Challenges
Think all those aging boomers were gonna shower the market with cheap houses? Think again.
Zillow says theyāre holding onto their McMansions like a dog with a bone because downsizing is expensive, smaller homes are scarce, and first-time buyers are now their biggest competition.
The āSilver Tsunamiā is more like a trickleāand itās not filling the affordability gap anytime soon.
Everybody Should Get Used to these Mortgage Rates, Says Fannie Mae CEO
Fannie Maeās CEO wants you to know that your dreams of ultra-low mortgage rates can take a long walk off a short pier.
The days of cheap loans are dead, so get cozy with these rate realities.
The Fed can cut rates all it wants, but donāt expect your mortgage to magically become affordable.