KeyBank Community Development Lending and Investment, Cleveland, provided a $32 million tax-exempt construction loan and a $15 million taxable construction loan to finance El Camino Commons, an affordable multifamily property in Oceanside, Calif.
Category: News and Trends
CREF Policy Update: ICYMI: Final Tax and Reconciliation Package Contains Numerous Pro-Real Estate Tax Provisions
Commercial and multifamily developments and activities from MBA important to your business and our industry.
CMF Quote of the Week
“The megabill includes numerous–with a Capital N!–MBA-supported tax changes. Make no mistake, with your help, our direct advocacy efforts with lawmakers and their staff ensured the preservation–and in several cases, the enhancement–of several key elements of the 2017 Tax Cuts and Jobs Act.” — MBA’s President and CEO Bob Broeksmit, CMB, on the recently signed tax package
Construction Spending Weakens
Construction spending dipped in May for the seventh straight month, the U.S. Commerce Department reported last week.
Senior Renters Increase, Point2Homes Finds
Point2Homes, Santa Barbara, Calif., found that more seniors are renting now than 10 years ago.
RentCafe: Southern Cities Deemed Top Spots for Renters in 2025
RentCafe, Santa Barbara, Calif., released a report on the best cities for renters in 2025, naming McKinney, Texas, as the top location.
Economy Adds 147,000 Jobs in June; Industry Economists Weigh In
Total nonfarm payroll increased by 147,000 in June, and the unemployment rate was 4.1%, the U.S. Bureau of Labor Statistics announced.
Redfin Reports Condo Prices See Second-Largest Drop on Record
Redfin, Seattle, found the median U.S. condo sale price fell 2.2% year-over-year to $354,100 in May, the second-largest drop in records dating back to 2012.
MBA’s Bob Broeksmit on the Numerous Real Estate Wins in Tax Package, Latest on Credit Reporting Costs
The Mortgage Bankers Association’s President and CEO Bob Broeksmit, CMB, released a video July 7 highlighting the pro-housing wins secured in the Republican-led tax and reconciliation that was passed last week and then signed into law by President Donald Trump.
Fannie Mae: Home Purchase Sentiment Index Falls
Fannie Mae released its National Housing Survey for June, including the Home Purchase Sentiment Index. The index dropped 3.7 points from May to 69.8.