The median net worth of U.S. households increased from $103,000 in 2016 to $127,000 in 2019 – a gain of 17.6% and the highest amount since 2007, according to The Distribution of Wealth in America Since 2016, a new report released Thursday by the Mortgage Bankers Association’s Research Institute for Housing America.
Category: News and Trends
Congested Supply Chains, Shift to eCommerce Boost Industrial Sector
Accelerating e-commerce, strong consumer demand amid supply chain bottlenecks and businesses restocking their inventories are benefiting industrial real estate, reported Wells Fargo Economics, Charlotte, N.C.
ATTOM: 3Q Mortgage Lending Down at ‘Unusually Fast Pace’
ATTOM, Irvine, Calif., said overall mortgage loan activity fell by 8 percent in the third quarter—the second straight quarterly decrease—as refinance volume faded amid rising interest rates.
ADP: Private Sector Adds 534,000 November Jobs
In the first of three key November employment reports this week, ADP, Roseland, N.J., said private-sector employment rose by a healthy 534,000 new jobs in November.
Dealmaker: Bascom Group Acquires Nevada Apartment Community For $31M
The Bascom Group LLC, Irvine, Calif., acquired Sierra Point Apartments in the Reno, Nev., metro for $31 million.
Dennis Postlewait of HCL Technologies: Next-Gen Lending Solutions for Efficiency and Cost Optimization
How has digital transformation permeated across loan and mortgage services, and how can experienced partnerships prove valuable? We shall try to examine the current state of the industry and highlight the role of transformation partners.
MISMO Seeks Public Comment on Two Engineering Guidelines
MISMO®, the real estate finance industry standards organization, seeks public comment on MISMO Engineering Guidelines (MEG) 16 and 42. The 30-day public comment period for these guidelines runs through December 30.
MBA Independent Mortgage Bankers Conference in Nashville Jan. 24-27
The Mortgage Bankers Association’s Independent Mortgage Bankers Conference 2022 takes place Jan. 24-27 in Nashville, Tenn.
MBA Weekly Applications Survey Dec. 1, 2021: Refis Take a Hit as Rates Reach 8-Month High
Despite a steady increase in purchase applications, overall mortgage application activity got swamped by a sharp drop in refinance applications as interest rates spiked to their highest rate since April , the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending November 26.
Quote
“After nearly a decade of rising inequality during the Great Recession and its aftermath, the distribution of wealth in the United States became somewhat more equal between 2016 and 2019. Americans became richer, with middle-class households on the receiving end of a bigger slice of the wealth gains.”
–John C. Weicher, author of a new Research Institute for Housing America report and Director for the Center for Housing and Financial Markets with the Hudson Institute.