Month: May 2021

Consumer Credit Outstanding Annual Growth Rate Slows

first_imgSign up for DS News Daily 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 July 13, 2015 934 Views The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News  Print This Post Consumer Credit Outstanding Annual Growth Rate Slows Consumer Credit Outstanding Federal Reserve National Association of Homebuilders 2015-07-13 Brian Honea The Best Markets For Residential Property Investors 2 days ago Related Articles Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe 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 Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Consumer Credit Outstanding Federal Reserve National Association of Homebuilders Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago Consumer credit outstanding, which totals about $3.401 trillion nationwide as of May 2015, rose at a slower seasonally adjusted annual rate in May than in April – 7.6 percent compared with 5.7 percent, according to a recent report from the Federal Reserve.Non-revolving consumer credit outstanding grew at a seasonally adjusted annual rate of 7.0 percent during May (about $174 billion), which was about 0.8 percentage points faster than the rate at which it grew in April, according to National Association of Homebuilders Senior Economist Michael Neal on the NAHB’s Eye on Housing blog. The increase in the rate of non-revolving consumer credit outstanding, which includes, auto loans, and student loans, was partially responsible for May’s total consumer credit outstanding expansion, Neal said. Non-revolving consumer credit outstanding now totals $2.5 trillion.The slower growth of total consumer credit outstanding in May was driven by slower growth in revolving consumer credit outstanding, which is largely comprised of credit card debt, according to Neal. Revolving consumer credit outstanding grew at a seasonally-adjusted annual rate of 2.1 percent in May ($19 billion), which was 9.4 percentage points lower than the growth rate recorded in April of 11.5 percent. Revolving consumer credit outstanding now totals $901 trillion.”A previous post illustrated that the federal government is the largest holder of non-revolving credit outstanding,” Neal said. “According to the Federal Reserve Board, non-revolving credit held by the federal government includes student loans, both originated and purchased. However, finance companies are also a large holder of non-revolving credit.”The vast majority of consumer credit held by financing companies is non-revolving, even though the amount of non-revolving and revolving credit outstanding comprise roughly equal portions when breaking down the holdings of depository institutions, according to Neal. Home / Daily Dose / Consumer Credit Outstanding Annual Growth Rate Slows Previous: Congressional Hearings to Cover Economy, Monetary Policy, and Agencies’ Activities Next: More Millennials Are Willing to Sacrifice Conveniences for Homeownershiplast_img read more

All Signs Point Toward…

first_imgHome / Daily Dose / All Signs Point Toward…  Print This Post The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago August 22, 2017 1,300 Views About Author: Joey Pizzolato Inventory restrictions are also stifling home sales. He attributes this fact to a lower-than-average number of existing home sales, which should sit at six months. New home construction is also well below what it historically should be. See the charts they referenced below. Servicers Navigate the Post-Pandemic World 2 days ago And Sharga’s conclusion? The economy is improving—homeownership rates are on the rise, albeit slowly, and the current market isn’t in the territory of another housing bubble.Will there be another recession? According to Sharga, yes, due to natural cycles in the economy. He predicts that it’s not inevitable in 2018—maybe 2019. And if that were the case, the industry wouldn’t see a spike in foreclosures until 2020 or 2021. 2017-08-22 Joey Pizzolato He does say, however, that inventory is improving from a 20 year low that was seen between 2012 and 2013. Housing starts are sitting at a projected 1.5 million, which is right where they should be.Another reason he explains why inventory is so tight is the fact that, even though there are still many people whose homes are underwater, virtually every avenue to attract delinquencies are down. Fewer homeowners are in a position of negative equity and foreclosure starts are as low as they were since 2005. Sign up for DS News Daily Related Articles Share Save Servicers Navigate the Post-Pandemic World 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Rick Sharga, EVP of Ten-X, held a live webinar on Tuesday to discuss his 2017 mid-year housing update and his views on whether or not the mortgage finance industry is on track for another housing bubble. Editor’s Note: all included graphs were used during the live presentation. Sharga began by examining the various factors that play a role in the housing market. First, he talked about the gross domestic product, which currently sits at 2.6 percent. He mentions President Trump calls for a GDP growth sitting somewhere between 4 and 5 percent, which Sharga says, “isn’t close to realistic.”After touching on GDP, he discussed the unemployment rate, which currently sits at 4.3 percent, according to the Bureau of Labor and Statistics.Sharga contends that unemployment under 5 percent suggests that those who would be looking for jobs already have fulltime employment, as usually, the housing market reacts opposite to the unemployment figure—if unemployment is down, home sales should be up, and vice versa. Sharga attributes that to the fact wage rates haven’t kept up with rising home prices. In addition, he says that many people are choosing other nontraditional employment routes, such as Uber and AirBnb. in Daily Dose, Featured, Foreclosure, Headlines, Market Studies, News Previous: Leisurely Living Next: Clarocity Announces Bill Waltenbaugh as Chief Appraiser Governmental Measures Target Expanded Access to Affordable Housing 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 The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago All Signs Point Toward… Subscribelast_img read more

Amazon’s Prime Place

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago amazon HOUSING mortgage 2017-11-02 Alison Rich in Daily Dose, Featured, Headlines Demand Propels Home Prices Upward 2 days ago November 2, 2017 1,402 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: amazon HOUSING mortgage About Author: Alison Rich 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Results are in: How Ocwen Performed in Q3 Next: Mortgage Assistance: Organizations Reached Out for Borrower Reliefcenter_img Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Amazon’s Prime Place Servicers Navigate the Post-Pandemic World 2 days ago When the planet’s largest online marketplace goes shopping, you know it’s a big deal. Amazon is scouring the country for the superlative spot to build its second headquarters—and 200-plus locations are courting the Seattle-based company in hopes of snagging the honors. With estimates that Amazon’s second hub will create upwards of 50,000 new high-paying jobs, who wouldn’t want Jeff Bezos and crew to tag their town as the “it” locale? While several factors will help that special city clinch the win, two others are sure to help seal the deal, according to Pro Teck Valuation Services in its Home Value Forecast report released Thursday.The company’s report notes that Moody’s recently culled five categories—business environment, human capital, cost, quality of life, and transportation—to come up with the top 10 cities certain to nab the H2Q honors.Moody’s anticipates one of these 10 cities (listed in order) will have what it takes to grab this brass ring: Austin, Texas Atlanta, Georgia Philadelphia, Pennsylvania Rochester, New York Pittsburgh, Pennsylvania New York, New York Miami, Florida Portland, Oregon Boston, Massachusetts Salt Lake City, UtahAccording to Pro Teck, home prices and forecasted appreciation in the five top-rated metros will help set the victor apart from the pack.Of the top five, Austin and Atlanta are the two hottest markets, with the CBSA level average home prices at $310,000 and $200,000, respectively, Pro Teck says. Both markets have bounced back well since the housing crisis, showing significant appreciation since 2011, it notes.Pittsburgh, Philadelphia, and Rochester have all posted only modest growth since the crisis, Pro Teck says. While not as fiery as Austin and Atlanta, 50K new jobs would surely stimulate home appreciation in those metros.Besides their robust real estate markets, Austin and Atlanta also boast an educated workforce and affordable housing, making them likely picks, Pro Teck says. Both have traffic and public transit problems, it adds, but those issues plague most places these days.In light of all the evidence, which city would Pro Teck choose? Atlanta, the company proclaims. (We’re sure most Atlantans will think that’s pretty peachy.)To view the full report, click here. Amazon’s Prime Place Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Subscribelast_img read more

Working Toward Crapo’s “More Sustainable” Housing Finance System

first_img The Senate Banking, Housing, and Urban Affairs Committee met on Tuesday to discuss the committee’s Chairman Sen. Mike Crapo’s housing finance reform outline. The first of this two-part hearing saw testimonies by experts giving their comments on the housing finance reform outline. During his opening statement, Crapo said that his outline set out a “blueprint for a permanent, sustainable new housing finance system.” Under the outline, he said that the new housing finance reforms would protect taxpayers by reducing the systemic, too-big-to-fail risk posed by the current duopoly of mortgage guarantors; preserve existing infrastructure in the housing finance system that works well, while significantly increasing the role of private risk-bearing capital; establish several new layers of protection between mortgage credit risk and taxpayers; ensure a level playing field for originators of all sizes and types, while also locking in uniform, responsible underwriting standards; and promote broad accessibility to mortgage credit, including in under-served markets. “As we begin these discussions we must ask what housing options do families have today and what housing opportunities will we make available for families,” said ranking member Sen. Sherrod Brown. “Failure to put working families first in the process will make it harder to for families to afford rent, but above all put the viability of the 30-year fixed-rate mortgage at risk and hit communities with lower income, communities of color and rural America.”During his testimony, Edward DeMarco, President of the Housing Policy Council (HPC) said that the need for housing finance reform remained as critical as ever. “Only Congress can replace the GSE duopoly with a more competitive market that reduces risk to taxpayers while ensuring a steady flow of mortgage finance for homebuyers,” DeMarco said. “We seek a more competitive market that puts private capital in front of a government guarantee.”Additionally, DeMarco said that HPC members recognized that government reform would not happen absent meaningful progress on questions of affordability and availability of credit. “Here too there has been progress, though some work remains.”Speaking specifically about the outline, DeMarco said that it reflected the “progression in our collective thinking” and that it was a practical, workable proposal that built on all previous proposals.DeMarco addressed the components of the outline, the elements that HPC supports, the open-ended questions that the outline identifies, and some areas where additional specificity is needed. Additionally, he highlighted actions that the Federal Housing Finance Agency (FHFA) and the administration could take to ensure a smooth transition for new guarantors to enter the housing finance system with no competitive disadvantage relative to Fannie Mae and Freddie Mac. During his testimony, Greg Ugalde, Chairman of the Board, National Association of Home Builders (NAHB) called on Congress to make housing affordability a national priority through housing finance reform. “Advancing comprehensive housing finance reform will ensure the capital and liquidity necessary for consumers and home builders to access stable financing,” Ugalde said. “We believe that an accessible housing finance system must address liquidity as well as affordability regardless of domestic and economic financial conditions.”Giving NAHB’s views on Crapo’s housing finance reform outline, Ugalde said that the NAHB appreciated and supported the Committee Chair’s effort to put forth a “thoughtful outline for housing finance reform,” that included what NAHB believed were key elements for a comprehensive reform bill along with a bipartisan agreement.Ugalde particularly expressed appreciation of Crapo’s support of the explicit government backstop for a key portion of the conventional mortgage market that was critical to the ongoing availability of the 30-year fixed-rate mortgage and financing of affordable multifamily properties. Additionally, he said that the outline allowed the mortgage market to benefit from Fannie Mae and Freddie Mac’s well-tested infrastructure. “The outline will designate Ginnie Mae as an operator of the securitization platform and provide the explicit government guarantee for mortgage-backed securities,” Ugalde said. “Employing a known and successful government entity provides an advantage but substantial operates will be needed for Ginnie Mae to perform this expanded role.”Mark Zandi, Chief Economist at Moody’s Analytics said that while the outline left much to be resolved, it offered a promising framework to begin this work. “I would implore policymakers to use your outline to finish this job of housing finance reform,” Zandi said.However, he told Crapo that the framework still had critical design issues that needed to be resolved for the reform to be a success. According to Zandi, the first structural issue was to ensure how enough guarantors enter the system that there are “none that are too big to be allowed to fail.” “Fannie and Freddie’s complete domination of the current market will frankly make it impossible for new entrants absent significant steps to reduce barriers to entry,” Zandi said. “A more fulsome securitization platform, increased transparency, and multi-issuer single security will at very least be required to support sufficient entry.”The second key issue, Zandi said was to ensure that lender-issuers were not on the hook for the failure of the guarantors from which they purchase insurance. “If they are, then they won’t get true sail accounting for the loans that they make which will make this channel entirely unworkable,” he said.The final issue was to ensure broad, consistent access to affordable mortgage credit particularly in areas where the market could be less inclined to serve as well when left on its own. “Your outline states that the current affordability goals and duty to serve will be replaced by 10-basis point market access to lower housing costs for low- and moderate-income borrowers,” Zandi told the committee. “While this fee will generate much more funds than the current system to promote access, more needs to be done. Critically it’s important that all guarantors have a national footprint so that they don’t only serve the markets that happen to be most profitable.”According to Hilary O. Shelton, Director, NAACP Washington Bureau and SVP for Policy and Advocacy at the National Association for the Advancement of Colored People (NAACP), today the homeownership rates between African-Americans was where it was “when discrimination was legal, prior to the enactment of the Fair Housing Act of 1968.”“Any changes to the current system must continue to protect and incorporate the important market segments, namely people of color and low- to moderate-income families on which a well functioning future system depends and a just society demands,” Shelton said.Moreover, he said that any housing finance reform must remedy “the discriminatory practices within the mortgage market, the societal constraints, and too many cases to federal policies.”Specifically, Shelton called on Congress to retain and strengthen “any or all duty to serve provisions by GSEs or any governmental program. “Without an enforceable, robust history to serve any program the market has proven that communities of color will find it extremely difficult to access the mortgage market.”“Congress must preserve FHA-insured lending to ensure low down payment mortgage loans and access to low down payment assistance programs as well as promote low and cost-effective loan modifications for existing homeowners,” Shelton said. He reiterated that any housing finance reform must provide broad access to capital for all borrowers as well as institutions of every size.Giving a directly opposite view, Adam Levitin, Professor of Law at the Georgetown University said that today’s housing market was functioning well and did not need a complete overhaul as outlined in Crapo’s housing finance reform proposal. “Most creditworthy Americans are today able to obtain mortgage financing, no matter where they live—metropolitan areas or rural communities. They can readily obtain a long-term fixed rate mortgage, the product that has built the American middle class,” Levitin said. “The multi-guarantor system proposed in the Chairman’s outline would place all of this in jeopardy.”He said that the system should make one essential change to make lending more secure and accessible, which was to ensure that guarantors took on market-wide credit risk, rather than the credit risk on a segment of the market. “If guarantors assume market-wide credit risk, the market will not segment and guarantors will not price pro-cyclically,” he said.  The second part of this discussion will be held on Wednesday, March 27 at 10 a.m. EST.Click here to view the testimonies and discussion of the first part of this hearing.  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Radhika Ojha Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Georgetown University HOUSING Housing Finance Reform Housing Policy Council Mike Crapo Moody’s Analytics NAACP NAHB Senate Banking Committee Sherrod Brown 2019-03-26 Radhika Ojha Share Save in Daily Dose, Featured, Government, News Home / Daily Dose / Working Toward Crapo’s “More Sustainable” Housing Finance System Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago March 26, 2019 2,346 Views Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Gateway Mortgage Announces New Chief Banking Officer Next: Building Better Disaster Relief for Homeowners Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Working Toward Crapo’s “More Sustainable” Housing Finance System Related Articles Tagged with: Georgetown University HOUSING Housing Finance Reform Housing Policy Council Mike Crapo Moody’s Analytics NAACP NAHB Senate Banking Committee Sherrod Brownlast_img read more

CFPB Announces Changes to Exemption Thresholds

first_img Share Save The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 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 Tagged with: CFPB  Print This Post About Author: Mike Albanese Data Provider Black Knight to Acquire Top of Mind 2 days ago December 23, 2019 2,513 Views CFPB Announces Changes to Exemption Thresholdscenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Previous: Lack of Inventory Spurring Growth of Single-Family Rental Market Next: Digitizing Mortgage Processes Home / Daily Dose / CFPB Announces Changes to Exemption Thresholds CFPB 2019-12-23 Mike Albanese Demand Propels Home Prices Upward 2 days ago On Monday, the Consumer Financial Protection Bureau announced changes to the asset-size exemption thresholds for depository institutions under Regulation C, which “requires many financial institutions to collect, report, and disclose certain information about their mortgage lending activity.”The Bureau also announced the asset-size exemption threshold for certain creditors under the escrow requirements and small creditor portfolio and balloon-payment qualified mortgage requirements under Regulation Z. These adjustments to both Regulations C and Z will become effective as of January 1, 2020. Under Regulation C, the exemption threshold is adjusted to increase to $47 million from $46 million. The CFPB states the adjustment is based on a 1.6% increase in the average of the CPI-W for the 12-month period ending in November 2019.Banks, savings associations, and credit unions with assets of $47 million or less as of December 31, 2019, are exempt from collecting data in 2020.The last adjustment to Regulation C was December 31, 2018, when the exemption threshold increased to $46 million fro $45 million. Regarding Regulation Z—the Truth and Lending Act—the exemption threshold is adjusted to increase to $2.2 billion from $2.16 billion. The CFPB said the adjustment is based on a 1.6% increase in the average of the CPI-W for the annual period ending in November 2019.Creditors with assets of less than $2.2 billion as of December 31, 2019, are exempt if other requirements of Regulation Z are also met, from establishing escrow amount for higher-priced mortgage loans in 2020.The last adjustment to the Truth in Lending Act was on December 31, 2018, saw the exemption threshold was adjusted to increase to $2.16 billion from $2.11 billion. This was based on a 2.6% increase in the average of the CPI-W for the 12-month period ending in November 2018.In the 2013 Escrows Final Rule, the Bureau established such an asset-size threshold of 2 billion, which would automatically adjust annually based on the year-to-year change in the average of the CPI-W for each 12-month period ending in November, rounding to the nearest million dollars.  in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Sign up for DS News Daily Subscribelast_img read more

Mortgage Servicers on the Wrong End of CARES Act

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Mortgage Servicers on the Wrong End of CARES Act in Daily Dose, Featured, Foreclosure, Government, News June 3, 2020 1,859 Views CARES Servicers 2020-06-03 Seth Welborn Related Articles About Author: Seth Welborn Tagged with: CARES Servicers Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Sign up for DS News Daily  Print This Post Share Save Previous: ‘Disasters Happen at the Community Level’ Next: Stabilizing the Mortgage Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Mortgage Servicers on the Wrong End of CARES Act Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago 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. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Mortgage servicers are lined up to bear the brunt of the CARES Act according to Berkeley Research Group Managing Director Greg Halm on Law360. Halm notes that current legislation provides assistance to some borrowers who do not need help, and it requires the wrong entities, mortgage servicers, to finance a large portion of this assistance.A secondary source of revenue for servicers comes in the form of interest. When borrowers pay servicers before they are obligated to remit those funds to investors, insurance companies and taxing authorities, servicers can earn interest while they hold the borrower’s funds.However, when borrowers stop making payments on their mortgages, servicers lose this secondary revenue source, but still must pay insurance premiums and property taxes on behalf of borrowers, and also must make principal and interest payments to the investors who own the loans, at least for a period of time.Under normal circumstances, when a borrower misses a payment, a servicer will contact the borrower to explore the reasons for the missed payment, and it will do what it can to help the borrower get back on track and keep their home. A borrower might also proactively contact the servicer before a payment is missed.”In summary, the structure of the mortgage assistance program in the CARES Act will tend to increase the proportion of nonperforming loans and cause mortgage servicers to bear the cost,” said Halm. “However, unlike the federal government, loan servicers do not have virtually unlimited access to capital.”Given the financial pressure already being placed on servicers, and most acutely nonbank servicers, from such a large wave of delinquency and forbearance, there is a real danger that the CARES Act may have an unintended consequence: It could force servicers to exhaust their finite capital to provide assistance to borrowers with federally backed loans who do not need it, and thereby impair their capacity to provide assistance to other borrowers who do need it, but whose loans are not backed by federal entities.last_img read more

The Suburbs’ Changing Demographics

first_img November 24, 2020 969 Views in Daily Dose, Featured, Market Studies, News The Suburbs’ Changing Demographics The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 1 day ago Over the last decade, U.S. suburbs have become more racially and ethnically diverse—not to mention more Democratic, according to Redfin.com.To get a better handle on this transition, the company studied data from the U.S. Census, along with Redfin’s housing market data and voting margins from the last three presidential elections.Among key findings, in 2018, people of color comprised 28% of the suburban population nationwide, up from 26.2% in 2010, driven by 15.3% more people of color living in the suburbs over that time period. That same year, people of color made up 37.6% of the city population nationwide, flat from 37.7% in 2010, 5.2% more white people live in the suburbs than a decade ago.In Las Vegas in 2018, people of color made up 40.2% of the suburban population, up from 30.5% in 2010. That was the largest uptick of any major U.S. metro. Salt Lake City and Seattle followed.And with politics currently so hardwired into the public psyche, this year, the Democratic presidential candidate prevailed by 13.2% in the suburbs—a hike from 7.2 points in 2016 and 5.9 points in 2012. Democratic presidential candidates fared slightly better in cities, winning by14.7 points in 2016 and 14.9 points in 2012.Meantime, in the suburbs, the price per square foot of homes parachuted 5.3% year-over-year in the third quarter of 2020. Last year, in the same quarter, it was up 4.2%. Price per square foot in urban areas jumped 5.3% year over year in the third quarter, a slight drop from 5.4% in the third quarter of last year.People of color made up 37.6% of the population of cities nationwide in 2018, flat from 37.7% in 2010, with a 6.1% increase in the number of people of color living in cities. Most of the data in this report is from the U.S. Census; 2018 is the most recent publicly available data.“I haven’t felt racial discrimination any of the three times I’ve purchased homes in the last six years,” said Redfin Chief Economist Daryl Fairweather. “My parents had a much different experience in the 80s when they were looking for a home in Montecito, CA, a suburb of Santa Barbara. My mother toured houses without my dad because she learned she had a better chance of her offer being accepted as a white woman than as part of a biracial couple.”The arrival of the pandemic to America has caused numerous trends to appear in the housing industry, among which include increased demand for housing away from the big cities. A recent report posted by the National Association of Home Builders (NAHB) analyzes this trend in the lower-density areas of America, as well as forecasts what the country’s housing market can expect moving forward.One of the first questions posed—and answered—by the NAHB report addresses the subject of whether or not this trend of increased suburban demand is in fact a true change in demand or behavior, or if this shift the nation’s housing market is seeing is merely a continuation of the wave that was already in motion and simply accelerated due to the pandemic.Richard Gollis commented on this phenomenon during NAHB’s recent The Future of Urban and Suburban Housing in the Wake of COVID-19 webinar:  “When we think about the conversation around suburban and urban development, it’s really thinking about the extent the trends are on the curve, or if this is really a shift.”Gollis was serving as a moderator for the event and was joined by other various expert panelists from NAHB, CoStar, Zillow, and Toll Brothers Apartment Living, all of who presented vital information highlighting growing trends in today’s market. 2020-11-24 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 1 day ago Home / Daily Dose / The Suburbs’ Changing Demographics Data Provider Black Knight to Acquire Top of Mind 1 day ago About Author: Chuck Green Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Previous: The Benefits of Homeownership Often Elude Black Americans Next: ‘Slow Down in Exits’ Means Increased Overall Forbearance Activity Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Related Articles Chuck Green has contributed to the Wall Street Journal, Washington Post, Los Angeles Times, San Francisco Chronicle, Chicago Tribune and others covering various industries, including real estate, business and banking, technology, and sports. Demand Propels Home Prices Upward 1 day ago Servicers Navigate the Post-Pandemic World 2 days ago Share 1Save Subscribe The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Deputy Doherty plays down significance of Government not asking for second bailout

first_img Twitter News RELATED ARTICLESMORE FROM AUTHOR WhatsApp Twitter Three factors driving Donegal housing market – Robinson Facebook Donegal Deputy Pearse Doherty has played down the significance of the announcement by the Government that we are to exit the Bailout without a precautionary line of credit.It was announced yesterday evening that Ireland will not be asking for a second bailout.But Deputy Doherty, who is Sinn Feins Finance spokesman, says this is nothing but spin from the Government the government was never expected to seek a second loan in the first place.And he says, most importantly, the announcement changes nothing for the Irish people:[podcast]http://www.highlandradio.com/wp-content/uploads/2013/11/pear830.mp3[/podcast] By News Highland – November 15, 2013 Facebook Google+ WhatsAppcenter_img 448 new cases of Covid 19 reported today Help sought in search for missing 27 year old in Letterkenny Previous articleDeputy Doherty says Government announcement on not needing second bailout changes nothing for peopleNext articleO’leary steps down as Harps Chairman News Highland Google+ Pinterest Pinterest Deputy Doherty plays down significance of Government not asking for second bailout NPHET ‘positive’ on easing restrictions – Donnelly Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector publishedlast_img read more

Inquiry gives the green light to the A5 upgrade despite 2000 objections

first_img Twitter WhatsApp By News Highland – July 11, 2012 Facebook Help sought in search for missing 27 year old in Letterkenny Google+ Inquiry gives the green light to the A5 upgrade despite 2000 objections A public inquiry in Northern Ireland into the A5 upgrade has found in favour of the scheme going ahead.The proposed scheme to upgrade the A5 to dual carriageway runs for 85km between Newbuildings outside Derry and Aughnacloy in County Tyrone.The public inquiry attracted more than 2,000 objections, and its results will be released soon.West Tyrone MLA Joe Byrne has welcomed the news – he says despite the objections, it was important that the road went ahead for the greater good:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/07/joebyrneA5.mp3[/podcast] 448 new cases of Covid 19 reported today Google+ Twitter NPHET ‘positive’ on easing restrictions – Donnelly center_img Facebook Pinterest RELATED ARTICLESMORE FROM AUTHOR Previous articleFate of Malin Head Coastguard Station to be known by OctoberNext articleLifford brothers jailed for attacking fisheries officers News Highland Three factors driving Donegal housing market – Robinson WhatsApp News Calls for maternity restrictions to be lifted at LUH Pinterest Guidelines for reopening of hospitality sector publishedlast_img read more

DAAA say national protest against austerity measures will go ahead on 29th February

first_img RELATED ARTICLESMORE FROM AUTHOR DAAA say national protest against austerity measures will go ahead on 29th February By News Highland – February 17, 2012 Calls for maternity restrictions to be lifted at LUH LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Facebook WhatsApp Pinterest News Guidelines for reopening of hospitality sector published Facebook WhatsAppcenter_img Previous articleSupt. English rejects criticism of garda investigation of Buncrana murderNext articleLifford doctor says local community are devastated by hospital news News Highland Twitter Google+ Need for issues with Mica redress scheme to be addressed raised in Seanad also A major protest planned for Dublin on the 22nd of February has been delayed until the following week, the 29th February, organisers have said.According to Donegal Action Against Austerity (DAAA), the protest which was originally organised to coincide with a blockade of the capital by the Road Haulage Association, has gained so much support they have had to put it back a week.Focus groups and protesters from counties including Cork, Limerick, Donegal, Galway, Roscommon and Dublin are joining in with the protest.One of the organisers, Joe Murphy, says the protest will be definitely going ahead on the 29th February…[podcast]http://www.highlandradio.com/wp-content/uploads/2012/02/joe530.mp3[/podcast] Google+ Twitter Almost 10,000 appointments cancelled in Saolta Hospital Group this week Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Pinterestlast_img read more