The New Yorker, April 28, 2022–Isaac ChotinerDense cities are better for the environment. Should residents have a say over what parts get dense?https://www.newyorker.com/news/q-and-a/a-clash-over-housing-pits-uc-berkeley-against-its-neighbors
Category: Top National News
Home Builders Can’t Keep Up. The Paradox of Soaring Home Prices and Mortgage Rates.
Barron’s, April 28, 2022–Randall W. Forsyth (subscription)The surge in mortgage interest rates is hitting house buyers much harder than home builders. For the latter, it’s brought the demand for homes …
First-Time Homebuyers Sidelined by Higher Mortgage Rates
The Hill, April 28, 2022–Sylvan LaneRising mortgage rates are piling onto record-breaking home prices, locking even more potential buyers out of the red-hot housing market. (MBA mention)https://thehill.com/policy/finance/3469481-first-time-homebuyers-sidelined-by-higher-mortgage-rates/
Toomey’s Quest to End Fed ‘Mission Creep’ Could Have Legs
American Banker, Apr. 26, 2022–Kyle Campbell (subscription)Sen. Pat Toomey, R-Pa., wants to reform the Federal Reserve Banks if it’s the last thing he does as an elected official. And he …
More NYC Apartment Renters Are Moving Out Instead of Paying Higher Rates
Bloomberg, Apr. 27, 2022–Jennifer EpsteinMore New York apartment renters are declining to renew leases as they’re being presented with post-pandemic rate increases, landlord Equity Residential said.https://www.bloomberg.com/news/articles/2022-04-27/more-nyc-renters-are-moving-on-instead-of-paying-higher-rates?srnd=premium
Mortgage Industry Layoffs, Buyouts Ramping Up in Metro Detroit
Detroit Free Press, Apr. 27, 2022–JC ReindlRocket Mortgage is offering voluntary buyouts to 8% of its workforce and that of sister title company Amrock.https://www.freep.com/story/money/business/2022/04/27/mortgage-industry-layoffs-buyouts-metro-detroit/9538214002/?gnt-cfr=1
Flagstar Bancorp Cuts 20% of its Mortgage Staff
HousingWire, Apr. 27, 2022–Flavia Furlan NunesMichigan-based Flagstar Bancorp, Inc., parent company of Flagstar Bank, has reduced its mortgage staff by 20% since the calendar turned to 2022, laying off 420 …
Commercial Mortgage Debt Outstanding Jumps to Record High in Q4
Commercial Property Executive, Apr. 27, 2022; Multi-Housing News, Apr. 27, 2022–Jamie WoodwellMBA Economist analyzes latest data on commercial/multifamily mortgage debt outstanding in not one, but two different publications.https://www.commercialsearch.com/news/commercial-mortgage-debt-outstanding-jumps-to-record-high-in-q4/https://www.multihousingnews.com/multifamily-mortgage-debt-outstanding-jumps-to-record-high-in-q4/
Mortgage-Related Complaints Rise Again in 1Q, ’Coop’ Leads the Pack
Inside Mortgage Finance, Apr. 27, 2022–Andras MalatinszkyComplaints filed with the Consumer Financial Protection Bureau regarding residential lenders and servicers rose 14.3% sequentially in the first quarter of 2022, although they …
Does Increased Leasing Activity Signal Recovery for Retail Sector?
Wealth Management Real Estate, Apr. 27, 2022–Jenn ElliotOccupancy rates throughout the retail real estate industry have ticked up in recent months, leaving the sector on its best footing since before …