Did You Know?

DID YOU KNOW? Today, the number of vacant homes in Japan has jumped to 8.5 million, meaning 1 in 7 homes across Japan is empty, mostly due to an aging population and low birth rates.....and low immigration. By 2050, it's estimated by the government that 40% of Japan's population will be over 65. The majority of long-term foreign residents in Japan acquire permanent residency rather than Japanese nationality. (Bloomberg)
DID YOU KNOW? Are big banks quitting the mortgage business? In an earnings report last week, JP Morgan Chase said that mortgage originations were down 18% compared to a year ago in the first quarter. For Wells Fargo WFC mortgage lending was down 23% compared to the year earlier. "Because of post-crisis capital rules, owning mortgages becomes hugely unprofitable.” - Jamie Dimon. Are non-banks - who have 25% of overall single-family volume in 2008, and 54% in 2017 - the future of the mortgage business? (MARKETWATCH)

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