Housing Shortage Explained

from CAR
Study Provides Insight into Inventory Shortage
The U.S. real estate market is currently experiencing the worst inventory deficiency in 20 years, which can be attributed to two primary reasons – boomers' reluctance to sell and homes fitting current family needs, according to new data from the realtor.comHousing Shortage Study.

According to the results, approximately 59 percent of respondents are not planning to sell their home in the next year, with nearly 35 percent planning to sell, and nearly 6 percent unsure. Taking a look at age segments of those with plans to sell next year reveals 60 percent of these potential sellers are millennials who are selling to move to a larger home (25 percent), or one with nicer features (24 percent).

Breaking down those not planning to sell by age points toward one significant contributor to the housing shortage – 85 percent of baby boomers surveyed indicated they are not planning to sell their home in the next year. Homeownership among boomers, at 78 percent, is nearly twice as high as millennials, at 41 percent. As boomers decide to stay put so are approximately 33 million properties, many of which are urban condos or suburban single-family homes – the most popular choices for millennials.

When those with no plans to sell were asked why they wanted to stay put, approximately 63 percent indicated their current home meets the needs of their family. The other most popular reasons include low interest rates (16 percent), recently purchasing their home (15 percent), needing to make home improvements and low property taxes (each cited by approximately 13 percent of respondents).
More info 

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Sunil Sethi Real Estate

Sunil Sethi / REALTOR, Broker, MBA, CPA(inactive), GREEN
Sunil Sethi Real Estate 

BRE #01173766

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ReUse Fair August 19, 2017 10am -3pm



Join us Saturday, August 19th, from 10am - 3pm for a community event featuring live music, food trucks, family fun, and great deals at the Oakland ReUse Fair. The Habitat for Humanity ReStore and The ReUse People of America are celebrating our newly expanded space at 9235 San Leandro Street, Oakland, CA 94603.

RSVP and to let us know you're coming!




Family Fun

This is a fantastic event for all ages! Little ones can dance to the tunes, get their faces painted, and learn how to reduce, reuse, and recycle from local vendors.

 

Local Music & Vendors

Tap your toes to the rock and folk sounds of local bands as you stroll the Fair. Visit unique vendors including local reuse artisans, environmentally friendly organizations.

 

Great Food

The ReUse Fair will feature delicious eats from food trucks, including our resident taco truck, Cantiflas. To keep the energy flowing, we will be offering free coffee from 10am to noon!


extra savings

25% off select items

Not only is the fair FREE, our already-low prices will be dropping even lower as ReStore and The ReUse People will be offering an additional 25% off select items! Shop our newly-expanded stores with even better deals for your next DIY project or that perfect piece for your home.