Bloomberg, Sept. 28, 2015–Clark, Patrick
Millennials are dominating the Des Moines housing market. That’s an odd piece of information that seems a little less odd-and a little more important-the longer you ponder it.
Category: Top National News
Congress Begins Advancing Spending Bill with Deadline Looming
Reuters, Sept. 29, 2015–Cowan, Richard
Congress is poised to rush legislation to President Barack Obama this week that would inject fresh funds to federal agencies, avoiding a government shutdown on Thursday with the start of a new fiscal year.
U.S. Consumer Spending Rises; Core Inflation Firms Slightly
Reuters, Sept. 28, 2015–Lange, Jason
U.S. consumer spending grew briskly in August and a key measure of inflation firmed a bit, signs of strength in America’s domestic economy that could lead the Federal Reserve to tighten interest rates despite weakness abroad.
Single-Family Homes Can Help Address the Affordable Rental-Housing Crisis
Urban Institute, Sept. 28, 2015–Magder, Dan; Goodman, Laurie
Nineteen million families in the United States currently pay more than half their income in rent. A predicted 13 million families will become renters over the next 20 years while the supply of affordable housing is shrinking.
MBA’s Stevens: The CFPB’s Complaint Database is Unreliable
HousingWire, Sept. 28, 2015–Garrison, Trey
MBA President and CEO David Stevens says the Consumer Financial Protection Bureau’s complaint database foments disinformation and has failed to take steps to correct these issues.
As Banks Retreat, Private Equity Rushes to Buy Troubled Home Mortgages
New York Times, Sept. 28, 2015–Goldstein, Matthew
Private equity and hedge fund firms have bought more than 100,000 troubled mortgages at a discount from banks and federal housing agencies, emerging as aggressive liquidators for the remains of the mortgage crisis that erupted nearly a decade ago.
JPMorgan Leads Big Banks Out the Door of FHA
National Mortgage News, Sept. 28, 2015–Berry, Kate
JPMorgan Chase has nearly stopped making home loans insured by the Federal Housing Administration. Most large banks have curtailed FHA-backed loans in the past two years because of concerns about credit and legal risks.
Discounts in U.S. Real Estate Stocks Set Stage for Buyout Spree
Bloomberg, Sept. 25, 2015–Mulholland, Sarah
Real estate investment trusts–companies that own properties such as luxury hotels, office towers and shopping malls — are trading at an almost 15 percent discount to what investors would pay for buildings individually, according to Green Street Advisors LLC. The gap, the biggest in five years, has been growing since May, pushing the odds of REIT buyouts to the highest since 2006.
No Procrastinating Under New Mortgage Rules
OC Register (Calif.), Sept. 25, 2015–Lazerson, Jeff
If you are buying or refinancing, you need to know how to get it right when it comes to the mortgage settlement process overhaul that starts Oct. 3.
Student Debt Can Put a House Out of Reach
NewsOK (Okla.), Sept. 25, 2015–Harney, Kenneth R.
Heads up for millennials and first-time home shoppers carrying student debt: New rules could make it tougher to qualify for a low down payment Federal Housing Administration mortgage.