With current housing goals set to expire in December, and amid economic uncertainty stemming from the lingering coronavirus pandemic, the Federal Housing Finance Agency yesterday left 2021 housing goals for Fannie Mae and Freddie Mac unchanged from the previous three years.
Group Newslink: MBA Commercial/Multifamily NewsLink July 23
Global Real Estate Investment Plunges Amid COVID Pandemic
Bloomberg, July 20, 2020–Todd GillespieGlobal real estate investment fell by 33 percent in the first half as the coronavirus pandemic battered economies and disrupted deals.https://finance.yahoo.com/news/global-real-estate-investment-plunges-230100497.html
Apply Now for MBA Path to Diversity Scholarship Program – Deadline July 31
The MBA Education Path to Diversity Scholarship Program recognizes existing industry professionals who are seeking to advance their careers through continuing education. Recipients receive a voucher to cover course registration …
What is Standing in the Way of a CRE Recovery?
GlobeSt.com, July 20, 2020–Angela MorrisBrian Stoffers, the global president of debt and structured finance for CBRE and the chairman of the Mortgage Bankers Association, said the single-family residential mortgage market …
MBA Chart of the Week: Unemployment Insurance/Initial Claims
This week’s chart highlights initial unemployment claims data from the U.S. Department of Labor, portraying the speed and severity of the labor market’s deterioration during the COVID-19 pandemic, as businesses closed or transitioned to remote working arrangements.
MBA Condominium Lending Virtual Workshop July 30-31
Condo lending is more complex than single family lending and demands specialization by mortgage lenders since not only potential borrowers and units but whole projects must be assessed. This workshop …
Eviction Looms for Millions of Americans Who Can’t Afford Rent
Wall Street Journal, July 16, 2020–Paul Kiernan (subscription)Millions of Americans who have missed rent payments due to the coronavirus pandemic could be at risk of being evicted in the coming …
U.S. Retail Sales Snap Back…
Reuters, July 16, 2020–Lucia MutikaniU.S. retail sales rose more than expected in June as consumers bought big-ticket items like motor vehicles and dined out, but a resurgence in new COVID-19 …
June’s New Construction Activity Sees Greatest Year-Over-Year Decline Since 2015
HousingWire, July 16, 2020–Alex RohaSingle-family housing authorizations in June sunk 10.02% year-over-year – the steepest year-over-year decline in the past five years, according to a report by Buildfax, a property …
‘Urgent Need, Untapped Opportunity’ in Family-Oriented Rental Housing
Family-oriented rental housing supply has fallen behind other multifamily options as developers focus on young, often single renters rather than families who require larger units, said the Urban Land Institute and RCLCO.