The Department of Housing and Urban Development is proposing a change to flood insurance rules that could bring costs down. The proposal would allow borrowers with government-backed loans to buy flood insurance from private companies instead of the National Flood Insurance Program.
As the coronavirus pandemic gets worse, some states are beginning to implement new restrictions and lockdowns on non-essential services. That’s reigniting a battle on whether real estate should be considered “essential.” Here are a few talking points in defense of the industry.
The Federal Reserve and the Treasury are at odds over the need for economic relief, while unemployment claims rise. Good news on the housing market and mortgage rates, although NAR warns about high home prices. The latest rent collection numbers, and a few words of wisdom from Jamie Dimon about the traits of a successful leader.
With Joe Biden set to become the 46th President in January, there’s plenty of talk about how his policies will impact housing. This is especially important as the red hot housing market becomes less affordable for both owners and renters, and builders are unable to fill the inventory gap.
Biden’s plan includes a $15,000 tax credit for first-time homebuyers, expansion of the Section 8 voucher program, and billions of dollars for new construction, renovations, and energy retrofits.
In this Real Estate News Brief for the week ending November 14th, 2020… homebuyers on pause, big earnings for a cloud-based national realty, and a fraud warning for landlords and property managers. We begin with economic news that was impacted by a tense political standoff over the presidential election and a surging number of coronavirus cases. Home buyers hit the pause button, and consumer confidence fell to a three-month low, but the housing market is still booming.
Hubzu’s new mobile app, Homesnap’s new home pricing tool, SafeShowings expansion in California, and a mysterious money-raise for a tech venture by ex-Zillow execs.
Hubzu is making it easier to have on-the-go access with a new mobile app. The online marketing platform gives users a way to find and bid on residential real estate auctions that include foreclosures, short sales, and retail sales. The app will give users mobile access with iOS and Android phones.
It’s the first time since the Great Depression that a majority of adults are living with Mom and Dad. Blame it on the pandemic, college closures, and job losses. A study by Pew Research shows that 52% of young people are living with one or both parents.
The latest economic news on economic policy, the job market, construction spending, mortgage rates, California rent control, zombie foreclosures, and a builder’s effort to reduce his carbon footprint.
We begin with economic news from this past week and another vote by the Federal Reserve to leave overnight interest rates right where they are, near zero.
Board members met for their monthly meeting in the midst of a contentious presidential election. It now appears that former vice president Joe Biden will be our next president, although President Trump's team is calling for recounts and litigation.
Several housing organizations filed a lawsuit accusing Redfin of a modern-day form of redlining. At issue is the level of service that Redfin offers to different communities and whether minority communities are being shortchanged. Redfin denies any discriminatory practice, saying decisions are based on legitimate business reasons.
In this Real Estate News Brief for the week ending October 31st, 2020... a report on the strength of the economic rebound, a forecast on 2030 home prices, and the primary reason that people are looking for new homes.
It’s been a volatile week for the stock market as investors worry about the pandemic and the presidential election, but there are some strong economic reports to share, including one on the third quarter GDP.