PRSRT STD US POSTAGE PA ID PERMIT 745 COLO SPGS CO
Vol. 9 No. 4
December 30, 2016
www.csrej.com
Pikes Peak Association of Realtors® names new CEO Photo by Gage Skidmore | www.gageskidmore.com
Trump’s impact on the housing industry: It could be huge While conjecture on who will be our next president is finally over, By Jon Paukovich Senior Vice President and speculation has Chief Lending Officer Ent Credit Union just begun on how — the Trump administration could impact the housing industry. Despite the Republican Party’s hold on both the executive and legislative branches, as of yet there is no party unity on many policy issues, including housing.
one immediate impact of the election has been a hike in mortgage interest rates Party unity or the lack thereof aside, one immediate impact of the election has been a hike in mortgage interest rates. Pre-election conventional wisdom predicted a Republican victory would result in stocks falling and bonds gaining to prompt lower interest rates. However, just the opposite occurred. Instead, 30-year
fixed mortgage rates have already increased from 0.375 percent to 0.500 percent. It appears investors foresee promised major infrastructure spending and tax relief as stimulating both the economy (including stocks) and the inflation rate. Tax reform is also expected to be an early agenda item for the new administration. As part of that discussion, the mortgage interest deduction See Trump's Impact | 4
Minorities, young people face hard times in housing holds has dropped only 5 percent since the peak in 2004, yet the rate among African-American households has plummeted 16 percent in that time. Further, the homeownership rate among households age 65 and up has dropped just 3 percent compared to 18 percent for those younger than 35, the Pew study shows. Meanwhile, home prices have jumped in the 5 percent range in
the past year alone. Homeowners are building equity and those near See Declines | 2
Gray Homes Open House
WCR Holiday Auction
Peak Producers Holiday Party
Jay Gupta's November Housing Stats
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Chad Denny
Branch Manager
Debbie Havens
Sales Manager
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Homeownership among minorities and young people has declined significantly, and these demographic groups are missing out on a jump in home values over the past four years that could have aided them financially, a new Pew Research Center study shows. Homeownership rates are down across the board. However, the homeownership rate among white house-
The Pikes Peak Association of REALTORS® Board of Directors is pleased to announce the selection of Amy Reid as the Association’s new Chief Executive Officer beginning January 9, 2017. “PPAR looks forward to having Amy Reid lead our organization. Amy’s extensive Reid experience, knowledge and understanding of both the real estate industry and REALTOR® associations will benefit our members and the public we serve.” said Charles D’Alessio, PPAR Chairman of the Board. The selection of Amy Reid as the new CEO is the culmination of a national search involving review of many candidates. Amy’s resume includes a four-year history of member satisfaction and retention, product and program development, contract negotiation and administration, board leadership, financial management, policy design and implementation, relationship and coalition build- Storm ing, stakeholder communications and staff management. Amy will be replacing retiring CEO Terry Storm.
National News............ Page 2 Local News................ Page 6 On the Move.............. Page 13 Local Expert.............. Page 14 Around the Corner....... Page 15
Sharon Ballinger
Will Michaloski
Marianne Elep Turner
Sr. Loan Officer
Loan Officer
Loan Officer
(719) 331-2750 chad.denny@academy.cc
(719) 380-1778 debbie.havens@academy.cc
(719) 491-2500 sharon.ballinger@academy.cc
(719) 232-7553 will.michaloski@academy.cc
(719) 264-1952 marianne.elepturner@academy.cc
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