The Wall Street Journal, Aug. 29, 2023-Deborah Acosta (subscription)Insurance premiums have tripled for Florida homeowners in the past five years, from an average of $1,988 in 2019 to $6,000, according …
Category: Top National News
Welcome to the ‘Nepo’ Housing Market: 40% of Homebuyers Under 30 Get Family Money to Cover Their Down Payment
Fortune, Aug. 28, 2023-Alena Botros (subscription)There’s this consensus that people who come from money are at an advantage, Redfin’s chief economist, Daryl Fairweather, explained—but it made her think: How does …
U.S. Housing Market Faces New Hurdle: Student Loan Repayments
Fox Business, Aug. 29, 2023-Megan Henney The U.S. housing market has been over the past year walloped by high mortgage rates and a worsening inventory shortage.https://www.foxbusiness.com/economy/us-housing-market-faces-new-hurdle-student-loan-repayments
Mortgage Rates at 7% Are Making Everything Worse for U.S. Homebuyers
Bloomberg News, Aug. 29, 2023-Prashant Gopal (subscription)For a generation of homebuyers used to rock-bottom borrowing costs, a surge to 6% mortgage rates was shock enough. But this month’s jump past …
Home Prices Could Surge Over the Next Year as Affordability Crisis Worsens
Fox Business, Aug. 29, 2023–Megan HenneyHousing affordability is already at the lowest level in decades – and the problem may soon get worse.https://www.msn.com/en-us/money/realestate/home-prices-could-surge-over-the-next-year-as-affordability-crisis-worsens/ar-AA1fTok2?
ICE’s Black Knight Purchase to Close on Sept. 5
National Mortgage News, August 28, 2023–Brad Finkelstein (subscription)Intercontinental Exchange’s acquisition of Black Knight should close on Sept. 5 following the parties entering into a consent order with the Federal Trade …
Breweries, Farms, Spas? To Fill Empty Offices, Downtowns Get Creative.
Washington Post, August 28, 2023—-Teo ArmusForget turning offices into apartments. Some cities and developers are exploring more out-of-the-box ways to use vacant office buildings.https://www.washingtonpost.com/dc-md-va/2023/08/28/empty-office-buildings-commercial-vacancy-zoning/
Owens Corning Appears Insulated From High Rates
The Wall Street Journal, Aug. 28, 2023-Justin Lahart (subscription)There is an odd dynamic going on with high interest rates and the housing market, but it is odd in ways that …
America Mortgage Rates – What’s Leading to the Rise?
MPA, Aug. 28, 2023-Jonalyn CuetoHome sales have decreased from last year with interest rates on the rise. Reluctance has been observed among sellers who locked in low rates during the …
Commercial Lending Fell 52% in Second Quarter
The Real Deal, Aug. 28, 2023As a wave of distress rolls towards commercial real estate, lenders are pulling back accordingly. https://therealdeal.com/national/2023/08/28/commercial-lending-fell-52-in-second-quarter/