November's Numbers

December 3, 2018
Journal open to 'November' page
Photo: Unsplash/Estee Janssens

Based on research conducted in November 2018, a new snapshot of housing conditions predicts dwindling affordability and more homes at risk from extreme weather.

In 2019, the rate for a 30-year fixed mortgage is expected to hit 5.8 percent, according to Zillow's predictions. Looking beyond next year, the real estate platform's research finds that by 2050, if greenhouse gas emissions are not curbed, 386,000 U.S. homes on the coasts are likely to be at risk of permanent or chronic flooding, and will grow to 2.5 million homes by 2100. If emissions are checked in line with the Paris climate accord, 348,000 homes will be at risk by 2050, and 1.3 million by 2100, indicating that the nation's housing is on pace for significant loss, substantiating the need to reconsider where homes are built or rebuilt.

1.4 percentage points: Boost in annual rent appreciation — beyond what’s already anticipated — that people living in the New York area can expect from the “Amazon effect” of adding 25,000 high-paid jobs.

19: Number of markets out of the 35 most populous where there’s a double-digit percentage point gap between home-value recovery rates for ZIP codes where there were high versus low foreclosures during the housing crisis. The recovery has been uneven, even within markets.

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