On Friday, the United States Senate will vote on a bill to repeal and replace Obamacare, a measure that Republicans have repeatedly called a government takeover of health care.
As the debate over the legislation has intensified, real estate has been at the forefront of the fight, with the industry reporting record profits for the year to date.
The most influential book of 2017 is a book by real estate magnate Charles Schwab that is both a biography and a guide to the real estate market.
In it, Charles Schwabe writes that “the real estate industry is going through a very good renaissance.”
The book is published by The Penguin Group, which publishes the New York Times bestsellers list and is a member of Penguin Random House.
Its cover features a smiling Charles Schwaba, flanked by a series of colorful maps of the United Kingdom.
“There is a new and emerging generation of Americans who are finding that the promise of American prosperity is not in the national economy, but in the unique qualities of their own families and their own communities,” Schwab writes.
“The real estate boom is a time of great opportunity for Americans of all ages.”
The author, who is an investor in real estate companies, said he was excited by the growth of the industry in 2017.
He believes the realtors’ book, and the subsequent rise of the housing market, has provided a valuable guide for his readers.
“I don’t know that I could have predicted the economic renaissance that we’re seeing,” Schwabb said.
“That’s what’s happening.”
Real estate is a key player in the financial system, and has a huge impact on the economy as a whole.
The U.S. economy is the largest single consumer of mortgages in the world, and a number of factors are driving that growth.
Schwab says the realty boom is driven by an increase in the supply of home loans and a decrease in the demand for those loans.
“As we see more and more homes being built, the supply goes up and the demand goes down,” Schwaber said.
The supply of mortgages, which include all types of loans, is up more than 25 percent in the past year, according to the Federal Reserve Bank of New York.
In a recent report, the Federal Housing Finance Agency said the median mortgage rate in 2017 was 2.25 percent.
The average rate of mortgage refinancing in 2017 stood at 4.3 percent.
“We’re going through some of the biggest housing cycles in the last 30 years, but I think that’s really driven by the demand of the market,” Schwabe said.
Schwabb points to the growth in interest rates on mortgages as a major factor in the increase in home sales.
“For example, a 10-year, 30-year mortgage was $200,000 in 2015.
Now, if you had a 5 percent rate, you’d have $100,000 worth of interest,” he said.
In 2017, the average annual interest rate on a 20-year home loan was 3.25%, according to Schwab.
For a 30-month mortgage, the rate was 2 percent.
With interest rates rising, realtor and real estate brokers say the economy is looking for the right properties for the middle class.
“If we don’t find something here for the young and the working class, they’ll all go elsewhere,” said David Lehrman, chief economist for real estate firm Zillow.
Schwabe says he has been reading the book for years.
“It’s really something that’s been in my life since I was a kid,” he told Next Big Futures.
“Because I’ve been in realtorship for 30 years now, I’ve seen it come and go, and I’ve gotten a sense that there’s a renaissance.”
But as the housing bubble continues to burst, Schwab said he is concerned about the future.
“With a big house, I would really rather it was a smaller one than a bigger one,” he explained.
“But with a smaller house, the cost of the mortgage, if it’s a 15-year deal, it could get up to $300,000 or more.
So that’s the cost that we have to pay now, and we’re going to pay that in the next 15 years.”
The rise in the realtor market has been driven in part by investors looking to profit from the boom in home prices.
The realtory market has seen a significant rise in value over the past few years.
For instance, in 2017, Zillower reported that there were 5.4 million properties in the United State that were valued at over $1 million, an increase of $4.7 billion over the previous year.
The number of homes in this category has risen from about 1.5 million in 2014 to 1.9 million in 2017 according to Zillowing.
“A lot of the investors are trying to take advantage of the bubble,” said Le