Nicole Friedman

speaker

798 appearances 16 recordings 1 series first heard Aug 2017 last heard Dec 2024

Nicole Friedman’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Startups Help Homebuyers Win the Bidding War... With Cash · 21 Oct 2021 podcast

There have always been a product called bridge loans in the market that enable buyers to kind of matched

get a short term loan from a bank to finance the purchasing of a new house before they've bought the old one. matched

And so these startups are kind of taking that bridge loan model, but making it a little bit more accessible and easy to use that bridge loans can be quite cumbersome to qualify for. matched

It is also new in the case of these startups buying the home on behalf of a buyer and then selling it back, that that is a little bit more unusual. matched

A risk to the buyer is just that they are sometimes paying additional fees for this service. matched

And so depending on their budget and the amount that they are paying for a home, it's up to them whether that fee is worth the service that they're receiving. matched

if something does happen with the buyer's financial situation, kind of midway through the transaction, maybe that the startup is stuck with the home, that they're not able to resell it to the buyer in the model where the startups end up buying the homes and that they then have to find somebody else to buy it. matched

Another risk is that this current market where it's so competitive for buyers is really a perfect environment for these kinds of companies that help buyers compete. matched

but maybe in a different market where it's a little calmer, maybe even a buyer's market where there are too many sellers compared to the number of buyers, that this type of product might not be as in demand. matched

Thanks for having me. matched

WSJ Your Money Briefing · Hispanic Homeownership Grows at Record Pace · 21 Apr 2021 podcast

So Hispanic homeownership has been growing for years and is largely due to the household formation growth, the youth of that population.

So that's already been kind of a strength underpinning the housing market for a couple of years before the pandemic.

Thank you for having me.

It's actually been a little bit of a surprise in 2020 that even though the Hispanic unemployment rate did rise above the national unemployment rate, there were a lot of Hispanic Americans who were affected by job losses.

The Hispanic homeownership rate continued to grow in 2020 and actually surged.

there's a couple drivers of this a major one is the age of the hispanic population that hispanic millennial generation is really driving these home ownership gains a lot of people in the hispanic community are in their early 30s late 20s in those kind of prime home buying years and

Really, analysts say that the Hispanic homebuyers who were ready to buy homes in 2020 had the means to do so just weren't the same people largely as the ones who were affected by the job losses.

And also interest rates in 2020 fell to record lows, mortgage interest rates.

And so that also helped make homebuying more affordable.

So the biggest growth rate has actually been in markets that aren't necessarily thought of as major hotspots for Hispanic homeownership.

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