The Hill, Apr. 20, 2023–Aris FolleyThe stock market may be closely watching the chance of an official economic recession, but many Americans across the country are already feeling the squeeze …
Category: Top National News
California Needs More Homes. So Why Are These Sitting Vacant?
Washington Post, Apr. 19, 2023–Erica WernerBlocks from homeless communities, 115 houses owned by the state highway authority are trapped in legal limbo and red tapehttps://www.washingtonpost.com/business/2023/04/19/california-housing-crisis-caltrans/
US Economic Activity Little Changed in Recent Weeks, Fed Report Shows
Reuters, Apr. 19, 2023–Ann SaphirU.S. economic activity was little changed in recent weeks as employment growth moderated somewhat and price increases appeared to slow, according to a Federal Reserve report …
Half of Millennials Own Homes. The Rest Fear They Never Will
Bloomberg, Apr. 19, 2023–Alice KantorFor the first time, more than half of millennials own a home. The rest are finding it increasingly out of reach. The millennial homeownership rate hit …
MBA’s Biggest Legislative Priorities This Year
National Mortgage News, Apr. 19, 2023–Maria Volkova (subscription)In recent months, MBA has worked in tandem with other stakeholders in the mortgage industry to push forward administrative changes at a number …
As Recession Looms, MBA Lowers Its Mortgage Volume Estimate
National Mortgage Professional, Apr. 19, 2023–David KrechevskyMBA’s latest estimates, released Tuesday, predict the mortgage market will originate $1.8 trillion in loans for one-to-four family units this year, down 2.7% from …
FDIC Starts Selling $114 Billion of Bonds From Failed Banks
Wall Street Journal, Apr. 19, 2023–Matt Wirz (subscription)The Federal Deposit Insurance Corp. has begun selling bonds it inherited from Silicon Valley Bank and Signature Bank to recoup the cost of …
A Decline in Home Lending for US Bank, Applications Spike
Inside Mortgage Finance, Apr. 19, 2023–Paul MuoloU.S. Bank, one of the largest depository home lenders in the nation, originated $9.89 billion of residential mortgages in the first quarter, a sequential …
Middle-Income Homeowners Gained $122K in Wealth over the Past Decade
WRE News.com, Apr. 18, 2023–Phil HallMiddle-income homeowners accumulated $122,100 in wealth as their homes appreciated by 68% over the last 10 years, according to new data from the National Association …
California Pension Fund Writing Down $52B CRE Portfolio
GlobeSt.com, Apr. 19, 2023–Jack RogersThe $306-billion California State Teachers’ Retirement System pension fund, known as Calstrs, bet big on real estate and now plans to trim 20% off office valuations.https://www.globest.com/2023/04/19/california-pension-fund-writing-down-52b-cre-portfolio/?