Has Consumer Outlook for the Housing Market Changed?

first_imgHome / Daily Dose / Has Consumer Outlook for the Housing Market Changed? The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Headlines, Market Studies, News Demand Propels Home Prices Upward 2 days ago Print This Post tweet Consumer Expectations Federal Reserve Bank of New York 2014-03-12 Tory Barringer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Consumer Expectations Federal Reserve Bank of New York Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Previous: ‘Failing to Supervise Employees’ Nets SEC Charges for Investment Bank Next: Cold Weather Still Affecting Some Markets Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Has Consumer Outlook for the Housing Market Changed? The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe The latest poll from the Federal Reserve Bank of New York shows consumer expectations stayed mostly flat in February, particularly on the housing side.According to responses in the New York Fed’s most recent Survey of Consumer Expectations (SCE), consumers last month indicated a median home price change expectation of 4.0 percent, reversing an increase to 4.6 percent in January.Price change expectations hovered around 4.5 percent for much of last year’s second half, coming down only when national reports indicated a slowdown.Meanwhile, median income growth expectations fell slightly, though responses in the bottom and top quartiles lifted. Household spending expectations were also down.On the topic of credit access, perceptions remained largely unchanged, though slightly more consumers said they think it is “somewhat” or “much” easier to get a loan.Looking at labor, median earnings growth expectations pulled back slightly to 2.3 percent from January’s high of 2.4 percent. While the median was down, though, the 75th percentile of responses rose to the highest level in the past nine months.If laid off, consumers projected an average chance of finding a job within three months at slightly more than 46 percent, down from January. It may be a small comfort, then, that the mean perceived chance of being laid off was also down slightly, particularly among older workers. March 12, 2014 830 Views Sign up for DS News Daily Related Articleslast_img read more

White House Threatens to Veto Bill That Cuts CFPB Funding

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles in Daily Dose, Featured, Government, News Tagged with: CFPB Proposed Legislation White House Print This Post Servicers Navigate the Post-Pandemic World 2 days ago President Barack Obama has threatened to veto a proposed amendment to the Consumer Financial Protection Act of 2010 that the White House claims would reduce the amount of funding the CFPB director can request.H.R. 1195, known as the Bureau of Consumer Financial Protection Advisory Boards Act, was introduced in the House by Robert Pittenger (R-North Carolina) and Denny Heck (D-Washington) on March 2. The bill calls for the establishment of advisory boards or councils within the CFPB of 15 to 20 members each for small businesses, credit unions, and community banks. The stated purpose of each advisory board or council is to “advise and consult” with the CFPB on issues that impact their respective groups. The bill was approved in the House Financial Services Committee earlier this year by a vote of 53 to 5.A recently proposed amendment to the bill by House Financial Services Committee Jeb Hensarling (R-Texas), however, reduces the amount of funding the CFPB director can request by about $45 million and $100 million for the fiscal years of 2020 and 2025, respectively. The White House said in its statement that “These reductions to the caps could result in, among other things, undermining critical protections for families from abusive and predatory financial products.”The bill’s co-sponsor, Heck, is urging his fellow Democrats to oppose the amendment to the bill, saying that Hensarling “put the torch” to his bill.Republicans have been attempting to chip away at the CFPB, and at the Dodd-Frank Act which created the Bureau, for the last three years but have made an extra push since gaining a majority in both the House and the Senate last November. Democrats have vowed to fight the Republicans’ attempts to reduce Dodd-Frank or the CFPB’s power, but last week, a bill passed in the House with overwhelming bipartisan support (a vote of 401 to 2) that would subject the CFPB to the provisions of the Federal Advisory Committee Act, making the proceedings of each advisory committee and subcommittee of the CFPB open to the public. The bill was one of several introduced in early March by Representative Sean Duffy (R-Wisconsin).Other legislation attempting to reform the CFPB is currently pending. In February, Representatives Steve Stivers (R-Ohio) and Tim Walz (D-Minnesota) revived a bipartisan bill that would create an independent Inspector General for the CFPB that is appointed by the president and approved by the Senate. The Bureau currently shares an IG with the Federal Reserve, a position that is appointed by the Fed chair and not subject to Senate approval. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / White House Threatens to Veto Bill That Cuts CFPB Funding Previous: CFPB, FTC Penalize Green Tree For Alleged Servicing Violations Next: Mortgage Industry and Default Servicing Law Firms Convene at Legal League Servicer Summitcenter_img Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea April 21, 2015 2,047 Views CFPB Proposed Legislation White House 2015-04-21 Brian Honea White House Threatens to Veto Bill That Cuts CFPB Funding Sign up for DS News Daily Subscribelast_img read more

Foreclosure Starts Plunge to Lowest Monthly Total in Nearly a Decade

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Foreclosure Starts Plunge to Lowest Monthly Total in Nearly a Decade Print This Post Related Articles Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: CFPB: Consumers are Complaining Less About Ocwen Next: DS News Webcast: Wednesday 12/23/2015 Black Knight Financial Services First Look at Mortgage Data Foreclosure Inventory Foreclosure Starts Foreclosures 2015-12-23 Brian Honea in Daily Dose, Featured, Foreclosure, News About Author: Brian Honea Some foreclosure metrics have long been approaching or below pre-crisis levels. Foreclosure starts reached a new low in November, however, falling to their lowest level in nearly 10 years, according to Black Knight Financial Services’ First Look at Mortgage Data for November 2015 released Wednesday.November’s total of 66,600 foreclosure starts was the lowest total for one month since April 2006, about two and a half years before the beginning of the housing crisis. The total represents a 9 percent decline from October and nearly a 10 percent decline from November 2014, according to Black Knight. Foreclosure inventory was also way down in November, falling by about 185,000 properties year-over-year down to about 698,000—or approximately 1.38 percent of all residential mortgages in the U.S.While foreclosure starts were steadily declining, however, the number of both 30- and 90-day delinquencies experienced seasonal upticks. The total of mortgage loans that were 30 days overdue but not in foreclosure increased by about 76,000 over-the-month up to about 2.49 million, or 4.92 percent of all mortgages. Despite the monthly increase, that total fell by more than half a million (546,000) year-over-year, according to Black Knight. Concurrently, the number of mortgages that were 30 days or more overdue or in foreclosure rose by about 53,000 from October to November, up to 3.2 million. Despite the monthly increase, that number represented a year-over-year drop of nearly three-quarters of a million (732,000)/The number of residential mortgage loans 90 days or more delinquent but not in foreclosure ticked up from October to November by about 7,000 properties, up to about 827,000, according to Black Knight. That total declined year-over-year by more than a quarter of a million, however (293,000).The monthly pre-payment rate, which is normally a good indicator of refinance activity, inched upward year-over-year by 0.4 percent but took a substantial tumble from October to November of about 16 percent, down to 0.92 percent, according to Black Knight.center_img Tagged with: Black Knight Financial Services First Look at Mortgage Data Foreclosure Inventory Foreclosure Starts Foreclosures Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago December 23, 2015 6,552 Views Share Save Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Home / Daily Dose / Foreclosure Starts Plunge to Lowest Monthly Total in Nearly a Decade Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Sen. Shelby Requests Probe of FHFA

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago FHFA Government Accountability Office Senate Banking Committee Senator Richard Shelby 2016-04-18 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Sen. Shelby Requests Probe of FHFA Tagged with: FHFA Government Accountability Office Senate Banking Committee Senator Richard Shelby Share Save The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Sen. Richard Shelby (R-Alabama), Chairman of the Senate Banking Committee, on Monday wrote two letters to federal watchdogs asking them to conduct further studies on the activities of the Federal Housing Finance Agency (FHFA) and Fannie Mae and Freddie Mac.“Congress has a responsibility to conduct proper oversight over both the FHFA and the GSEs,” Shelby said. “It is my hope that GAO and CBO will provide the Committee with meaningful data regarding the market impact of FHFA’s decisions to ensure that Congress takes steps to protect American taxpayers from risk.”In a letter to Comptroller General Gene Dodaro, head of the Government Accountability Office, Shelby noted that the FHFA has recently taken steps to encourage a more active role for the GSEs in the mortgage market rather than a reduced role. Those steps include issuing proposed rules regarding the GSEs’ duty to serve, lowering down-payment requirements, making contributions to the National Housing Trust Fund despite having no capital, and creating principle write-down requirements, according to Shelby.Also, Shelby noted, the initial purpose of the common securitization platform created by the GSEs was to facilitate greater competition in the secondary mortgage market; however, he said, “it appears that the FHFA is no longer taking steps to enable the platform to be used by entities other than the enterprises.”Shelby requested the GAO to study and report the extent to which FHFA’s actions could influence the following:GSEs’ dominance in residential mortgage marketsPotential increase in the cost of entry for future competitors for the GSEsFinancial demands on Treasury, both future and currentPossible options for modifying the structure of the GSEsAny other areas deemed appropriate by the GAO to fully evaluate the issuesSen. Richard ShelbyThe senator requested all information from the GAO by November 1, 2016.Also on Monday, Shelby wrote a letter to Keith Hall, Director of the Congressional Budget Office, asking him to address several questions regarding the lack of capital holdings by Fannie Mae and Freddie Mac. Shelby pointed out in his letter that in a speech in February 2016, FHFA Director Mel Watt himself had cited the GSEs’ lack of capital as a concern the longer the GSEs remain in conservatorship.“Director Watt’s concerns have led some in the mortgage industry to support amending the GSEs’ agreements with the Department of Treasury to allow the GSEs to increase capital levels by retaining more of their earnings,” Shelby wrote. “Others, however, have argued that this would allow the GSEs to be reconstituted without providing a commensurate reduction in taxpayer exposure to the multi-trillion-dollar housing finance market. Such an outcome could potentially reduce incentives for Congress to enact statutory reforms.”Shelby asked Hall to prepare a report that addresses the following questions:What the federal government’s obligations to the GSEs while they are in conservatorship of the FHFA?What are the implications for the budget and federal debt if Fannie Mae and Freddie Mac were to retain more of their earnings?How would the risk borne by taxpayers be affected if the GSEs’ capital levels were to be increased?Could recapitalizing the GSEs have consequences for the operations of the GSEs, or on mortgage markets?Shelby asked Hall to complete the report by July 2016.Click here to view Shelby’s letter to the GAOClick here to view Shelby’s letter to the CBO.center_img Sen. Shelby Requests Probe of FHFA Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Print This Post Related Articles April 18, 2016 1,466 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Finally, Sanders Speaks Out on Housing Reform Next: DS News Webcast: Tuesday 4/19/2016 About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

Both Sides of the Aisle Urging GSE Reform

first_img Just how big of an issue is the GSEs’ dwindling capital buffer and the FHFA’s almost eight-year long conservatorship of Fannie Mae and Freddie Mac becoming?So much of a concern that in mid-May, a coalition of 12 right-center organizations wrote a letter to Congress urging them to pass a GSE reform bill sponsored by Rep. Mick Mulvaney (R-South Carolina).But that’s not all—it’s so much of a concern that factions on both sides of the political aisle are petitioning Congress for change. Late last week, a group of 32 Democratic members of the U.S. House of Representatives wrote a letter to FHFA Director Mel Watt and Treasury Secretary Jack Lew asking them to reassess the Preferred Stock Purchase Agreement (PSPA) policy that requires the GSEs’ capital buffer to be reduced to zero by January 1, 2018.The group of Democratic lawmakers, led by Rep. Michael Capuano (D-Massachusetts), cited the now infamous speech Watt made at the Bipartisan Policy Center back in February in which he said there were risks that were “certain to escalate” the longer the GSEs remain in conservatorship of the FHFA. The main risk, Watt said in his speech, is the required reduction of the GSEs’ capital buffer to zero by the end of next year.In their letter, the Democratic lawmakers pointed out that the FHFA Director is required by law to see that the GSEs have adequate capital and that they are operated in a manner that does not pose a risk to taxpayers.“Fortunately, the Housing and Economic Recovery Act (HERA) of 2008 provides a solution to this problem by requiring the FHFA Director to ensure that the GSEs are adequately capitalized.”32 Democratic Members of Congress“Fortunately, the Housing and Economic Recovery Act (HERA) of 2008 provides a solution to this problem by requiring the FHFA Director to ensure that the GSEs are adequately capitalized,” the lawmakers wrote. “HERA includes a number of provisions expressing Congress’ intent that the GSEs be operated in a safe and sound manner.”The Democratic lawmakers stated that Congress’ lack of legislation post-HERA and the fact that Fannie Mae and Freddie Mac remain in conservatorship of the FHFA nearly eight years later does not justify an agreement between FHFA and Treasury to ignore the HERA’s mandate.The subject of GSE reform has long been a hotly contested one among lawmakers and the housing industry, but discussions have taken on a new intensity since Watt’s speech at the Bipartisan Policy Center nearly four months ago. In the midst of immediate uproar over Watt’s speech, Treasury released a statement a week later saying that the GSEs would not be recapitalized and released from conservatorship. The Urban Institute has published a series of white papers written by housing experts and analysts on housing policy reform as part of its Housing Finance Reform Incubator. Home / Daily Dose / Both Sides of the Aisle Urging GSE Reform Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Conservatorships Fannie Mae FHFA Freddie Mac GSE Capital Buffer Treasury 2016-06-06 Brian Honea The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save June 6, 2016 1,377 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Secondary Market Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Previous: Fannie Mae to Publish Reperforming Loan Data Next: More Renters Looking to Buy These Days Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Both Sides of the Aisle Urging GSE Reform Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Conservatorships Fannie Mae FHFA Freddie Mac GSE Capital Buffer Treasury Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Related Articles Subscribelast_img read more

Single-Family Housing Starts Spike in Northeast

first_img The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Tagged with: Dodge Data and Analytics Housing Starts Residential Construction Single Family Residential The Best Markets For Residential Property Investors 2 days ago About Author: David Wharton Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Single-Family Housing Starts Spike in Northeast February 26, 2018 2,137 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Dodge Data and Analytics Housing Starts Residential Construction Single Family Residential 2018-02-26 David Wharton Previous: Industry Veteran Rick Sharga Returns to Carrington Next: New Cryptocurrency Offering Backed by Real Estate Home / Daily Dose / Single-Family Housing Starts Spike in Northeast The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Headlines, Journal, Market Studies, News Related Articles Dodge Data and Analytics has released its latest data on construction starts, showcasing stats for the month of January 2018. Among the noteworthy data points: a spike-in single-family housing starts in the Northeast region, even as the rest of the country saw either a decrease or held steady month-over-month.The total value of new construction starts in January 2018 decreased 2 percent to a seasonally adjusted annual rate of $725.9 billion, according to Dodge’s data. This follows a 13 percent hike in December. On an unadjusted basis, total construction starts in January amounted to $52.2 billion, down 7 percent year-over-year. On a 12-month moving total basis, total construction starts in the 12 months ending January 2018 were up 2 percent from the 12 months ending January 2017.Residential building as a whole climbed 7 percent in January, assisted by an uptick in multifamily housing starts after three straight months of declines.Single-family housing in January declined 3 percent, “settling back after the modest gains reported during the previous five months.” During January, single-family housing was down 11 percent in the West, down 2 percent in the South Central region, down 1 percent in the South Atlantic, and unchanged in the Midwest. However, the Northeast saw a 9 percent increase in residential building. This could bode well for investors looking for single-family rental opportunities in the Northeastern United States, as well as for inventory shortages in the region.Residential building rose 1 percent year-over-year, with single-family housing up 3 percent while multifamily housing slipped 2 percent. The Northeast was down 36 percent year-over-year with regard to total construction starts. The West was down 10 percent, the South Central region slipped 9 percent, the South Atlantic held steady, and the Midwest climbed by 42 percent.”Although the expansion for the construction industry lost some momentum during 2017, on a broad level it can be characterized as deceleration as opposed to decline,” said Robert A. Murray, Chief Economist for Dodge Data & Analytics. “January’s level of activity, which held close to last year’s mid-range, is consistent with the picture of a decelerating expansion. The factors affecting construction activity going forward in 2018 have become more varied. Some dampening may come from higher material prices and tight labor markets, yet while interest rates are rising the increases are expected to stay moderate this year.”last_img read more

California Housing Market Surging After Wildfires

first_img Related Articles About Author: Alison Rich Data Provider Black Knight to Acquire Top of Mind 2 days ago Alison Rich has a long-time tenure in the writing and editing realm, touting an impressive body of work that has been featured in local and national consumer and trade publications spanning industries and audiences. She has worked for DS News and MReport magazines—both in print and online—since they launched. March 28, 2018 3,581 Views Sign up for DS News Daily Subscribe Share Save Tagged with: Homebuyers Trulia Trulia Research wildfires Previous: Ocwen Mortgage Mods Helped Thousands Avoid Foreclosure Last Year Next: GSEs Launching Uniform Mortgage-Backed Securities The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / California Housing Market Surging After Wildfirescenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago California Housing Market Surging After Wildfires in Daily Dose, Featured, Journal, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Print This Post Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago As Northern California rises from the ashes, so too does its housing market, suggests just-released Trulia data. After catastrophic fires swept through the area five months ago, it’s not only are resident choosing to stay—new ones are also aiming to move in, the report says. The heightening demand is creating a highly competitive market, with would-be homeowners jockeying for a seat at the buyer’s table.To assess how the fires changed the region’s housing market—and, conversely, didn’t change it—Trulia looked at metrics such as prices, listings, and search data. What the company noticed is that the number of lots for sale rose, while the number of homes for sale took a sharp tumble.Trulia also uncovered a pair of data points revealing current residents’ and non-residents’ desire to live there. First, even though citizens of Sonoma and Napa counties are looking outside the area at a higher rate than they did a year ago, most are still searching close to home. ZIP codes in the heavily devastated city of Santa Rosa are the top five ZIPs searched from inside the region, Trulia notes. There, empty-lot listings surged 235 percent to 231 in March, up from 69 the same period a year ago. Single-family home listing slid 16.6 percent to 267 from 320 in the same period.Home prices have also risen appreciably. While Trulia attributes some of the increase to decreased supply, much of it simply stems from people’s desire to live in the area, the report says. Much of that demand stems from the San Francisco and Oakland areas, where prices are the steepest in the nation, Trulia says.Inbound searches to Santa Rosa rose 8 percent in February from the same period in 2017. Searchers in San Francisco, Oakland, and San Jose were the top out-of-towners seeking a spot in Sonoma County, Trulia reports.“As the region rebuilds and new supply comes on the market, house hunters should snap up new supply if current conditions—including high Bay Area home prices—hold,” Trulia concluded in its report.According to February study by Redfin, an estimated $1.5 trillion worth of homes are projected to be at risk from wildfires in the year to come—around 7.7 percent of the United States’ total housing value. Homebuyers Trulia Trulia Research wildfires 2018-03-28 Alison Richlast_img read more

Weighing in On Construction Spending

first_img Previous: Where do Americans Feel Safe? Next: The Benefits of Automating Mortgage Documents Print This Post Home / Daily Dose / Weighing in On Construction Spending Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Donna Joseph The U.S. Census Bureau on Monday announced the values to be put in place for construction statistics in October 2018. The report provides monthly estimates of the total dollar value of construction work done in the U.S. and covers construction work done each month on new structures or improvements to existing structures for private and public sectors. Data estimates include the cost of labor and materials, cost of architectural and engineering work, overhead costs, interest and taxes paid during construction, and contractor’s profits.The report estimated total construction spending in October 2018 at a seasonally adjusted annual rate of $1,308.8 billion, a 0.1 percent fall from the revised September estimate of $1,310.8 billion. The October figure reflects an increase of 4.9 percent from the October 2017 estimate of $1,247.5 billion. Construction spending amounted to $1,096.4 billion from January to October, increasing 5.1 percent above the $1,043.6 billion for the same period in 2017.Private construction spending recorded a seasonally adjusted annual rate of $998.7 billion, 0.4 percent below the revised September estimate of $1,003.0 billion. The report found that residential construction was 0.5 percent down in October at a seasonally adjusted annual rate of $539 billion on a month over month basis. Nonresidential construction reflected a seasonally adjusted annual rate of $459.7 billion in October, declining 0.3 percent below the revised September estimate of $461.3 billion, the report revealed.According to the Bureau, the estimated seasonally adjusted annual rate of public construction spending for October rose 08. Percent month over month to $310.2 billion. It also noted that educational construction was at a seasonally adjusted annual rate of $76.9 billion, 2.6 percent above the revised September estimate of $75.0 billion.The report stated highway construction recorded a seasonally adjusted annual rate of $94.6 billion, 0.1 percent below the revised September estimate of $94.6 billion.Read the full report here. Demand Propels Home Prices Upward 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] center_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Construction private construction public construction U.S. Census Bureau Construction private construction public construction U.S. Census Bureau 2018-12-03 Donna Joseph in Daily Dose, Featured, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago December 3, 2018 967 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Weighing in On Construction Spendinglast_img read more

Investors Eyeing Housing in U.S. Economic Growth

first_imgHome / Daily Dose / Investors Eyeing Housing in U.S. Economic Growth Previous: Foreclosure Changes in the Wolverine State Next: Congresswoman Maxine Waters Questions CFPB The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily As U.S. Treasury yields remained steady, investors are still showing caution despite strong indicators in the housing market. The report also showed the stock of homes under construction last month was the highest since 2007, which could help to loosen a supply squeeze that has stalked the housing market.Steve Johnson, senior portfolio manager at SVB Asset Management, said on Reuters that investors were awaiting certainty about major issues such as U.S.-China trade negotiations and the final shape of Britain’s exit from the European Union.”What the market really wants to see is more of that macro clarity,” Johnson said.Housing supported the larger economy in Q3 2019, but despite this growth, global political uncertainty, including that coming from Britain and China, poses a risk to the forecast tipping to the downside.The Fannie Mae Economic and Strategic Research (ESR) Group expects one more rate cut from the Federal Reserve in early 2020 before pausing for the remainder of the year, leading to an upgraded 2020 forecast for real GDP growth of 1.9%. Housing added to growth in Q3 into the Q4 and the first half of 2020.The Fannie Mae ESR Group notes that housing should also continue to function as a positive contributor to growth in the near term, as indicated by both new and existing single-family home sales advancing in Q3, as well as pending home sales, permits, and starts. However, persistent supply and affordability constraints continue to hold back household formation, inhibiting housing market activity.“Even as global uncertainties mount, we continue to expect the domestic economy to produce solid, if not spectacular, growth,” said Fannie Mae SVP and Chief Economist Doug Duncan. “A stronger-than-expected Q3 contributed to the downward revision to our Q4 forecast, as some of the previously expected weakness in trade and inventories appears likely to have been pushed back into this quarter. Still, consumer spending is likely to continue driving the expansion forward, and with the passage of the budget act and a reprieve in trade tensions we’ve revised upward our forecast for full-year 2020 growth. We also continue to expect the Fed to cut interest rates only one more time in the foreseeable future, in early 2020, as a hedge against the sizeable downside risks and to counteract muted inflation.” December 18, 2019 1,258 Views Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn Demand Propels Home Prices Upward 2 days agocenter_img Print This Post in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Related Articles Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Economy HOUSING 2019-12-18 Seth Welborn Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Investors Eyeing Housing in U.S. Economic Growth Tagged with: Economy HOUSING Demand Propels Home Prices Upward 2 days agolast_img read more

Post-mortem due on body of Caolan Page today

first_img RELATED ARTICLESMORE FROM AUTHOR Pinterest Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Facebook LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Guidelines for reopening of hospitality sector published Twitter Post-mortem due on body of Caolan Page today Calls for maternity restrictions to be lifted at LUH WhatsApp Previous articleAthletics – Letterkeny Athletes Among National Award NomineesNext articleUp to 10% of County Donegal could be left with blank TV screen when digital arrives News Highland Newscenter_img By News Highland – October 18, 2011 Pinterest Twitter A post-mortem examination on the body of County Donegal teenager Caolan Page is due to be carried out this morning.The 19 year old from Upper Kildrum in Carrigans was discovered in Magazine Street, Derry, early on Saturday morning.Meanwhile, thousands of people have paid their respects to the Donegal teenager on a Facebook page set-up in his memory.The ‘RIP Caolan Page’ tribute site on Facebook has attracted almost 5,800 ‘likes’ since Saturday.Caolan was taken to Altnagelvin Hospital after being found injured near the Walls on Magazine Street, Derry, at around 2am on Saturday.Detectives were last night going through CCTV footage of the area where the St Columb’s College A-level student sustained his fatal injuries.Police hope the images will help establish what happened to Caolan.A post-mortem examination is due to be carried out in Belfast today.Caolan’s own Facebook account was flooded with tributes from friends. Google+ Google+ Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week WhatsApp Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more