Urban Institute, Oct. 1, 2020–Solomon Greene, Laurie Goodman, Sarah Strochak, Patrick SpausterAn initiative on the California state ballot this November would change the way local governments assess the value of …
Category: Top National News
New York, San Francisco Rents Plunge in Work-at-Home Shift
Bloomberg, Oct. 1, 2020–Prashant GopalApartment rents are plunging in high-cost cities from New York to San Francisco. Now, places that were less popular before the pandemic are suddenly in high …
Despite Hardships from Pandemic, 40% of Latinos Still Plan to Become Homeowners
HousingWire, Sept. 30, 2020–Alex RohaThe August survey from the National Association of Hispanic Real Estate Professionals found that 40% of Latinos who do not currently own a home have plans …
Freddie Mac Preparing to Launch New Type of Multifamily Mortgage Bond
National Mortgage News, Oct. 1, 2020–Bonnie Sinnock (subscription)The government-sponsored enterprise’s first multifamily sustainability bond transaction, totaling $600 million, is part of Freddie’s K-Deal program.https://www.nationalmortgagenews.com/news/freddie-mac-preparing-to-launch-new-type-of-multifamily-mortgage-bond
Consumer Spending Rose in August, but Incomes Pose Hurdle for U.S. Recovery
Wall Street Journal, Oct. 1, 2020–Josh Mitchell (subscription)A drop in household income and persistently high layoffs are threatening to further slow the U.S. economic recovery, which already appears to be …
Commercial Mortgage Debt Rises as Originations Fall
GlobeSt.com, Oct. 1, 2020–Kelsi Maree BorlandData from the Mortgage Banker’s Association reveals that the level of commercial debt increased to $3.76 trillion at the end of the second quarter, and …
1,600 Customers Say Wells Fargo Paused their Mortgage Payments Without their Consent
NBC News, Oct. 1, 2020–Gretchen MorgensonThe letters also indicate that the bank didn’t know how many customers had been affected by its practice of placing them in so-called forbearance programs, …
Mortgage Rates Fall as Demand for Home Loans Rises
Washington Post, Oct. 1, 2020–Michele LernerMortgage rates fell as growing demand for home loans continue to strain lenders’ capacity to process them. The average for a 30-year fixed-rate mortgage reached …
With Evictions Looming, Cities Revisit a Housing Experiment From the ’70s
New York Times, Oct. 1, 2020–Clyde HabermanAs a housing crisis set off by the Covid-19 pandemic has put low-income tenants at risk of eviction, a counterintuitive proposal to help renters …
These Cities Are Most at Risk of Being in a Housing Bubble
Barrons (Wall Street Journal), Oct. 1, 2020–Shaina MishkinHome prices have been by and large resilient in the face of a historic pandemic—but some markets remain at risk of a housing …