In this week's Real Estate News in Brief... the Fed pulls the trigger on another rate hike, a status report on the FHA, and a facial recognition hack that could compromise your security.
Boston has agreed to put parts of its new short-term rental rules on hold in response to an Airbnb lawsuit. Airbnb is suing the city over the enforcement provisions, and is asking for an injunction against all of the rules pending the outcome of the court battle. The rules are supposed to take effect on January 1st.
Real estate values are greatly affected by population growth. Population growth follows job growth…so naturally, real estate investors should also follow the actions of major employers. On today’s show, let’s look at where some of the jobs are going.
Today… let’s take a closer look at Jacksonville and Tampa, Florida.
California realtors are reviving Proposition 5 just a few weeks after voters squashed it at the ballot box. It would expand the portability rule for homeowners protected by Proposition 13, but Prop 5 only got about 41% of the vote. The California Association of Realtors says it was disappointed by the results, but not discouraged. It has already filed a signature-gathering petition to get it back on the ballot in November of 2020.
The arrest of a Texas developer -- one that many of us in the real estate industry know -- is a big reminder to thoroughly vet any investment and any company that manages your money. Phillip Carter of Frisco is accused of taking $17.5 million dollars from investors for development projects in North Texas. Authorities say he used those funds for unrelated purposes. His wife, Shelley, and alleged accomplice, Richard Tilford, also face charges.