Welcome to the Friday Housing Report Roundup. Click on the link to see what’s happening.
Category: News and Trends
Dealmaker: Equity Street Capital JV Acquires Shopping Center for $141M
Equity Street Capital, San Diego, and Big V Property Group, Charlotte, N.C., acquired The Avenue Murfreesboro near Nashville for $141.3 million.
Unemployment Claims Dip to 860,000; Continuing Claims Remain Elevated
The Labor Department yesterday reported 860,000 initial claims for unemployment insurance, seasonally adjusted, for the week ending September 12, down by 33,000 from the previous week, but still high by historical standards.
After Strong Summer, August Housing Starts Underwhelm
Housing starts—one of the bright spots in a red-hot summer housing market—faltered in August, HUD and the Census Bureau reported yesterday, although most of the decline took place in multifamily.
College-Area Rents Slip as Schools Move Online
The rental market has softened across the country during the pandemic, but especially in college neighborhoods, said Zillow, Seattle.
Under One Roof: MBA Annual 20 Oct. 19-21 on MBA Live; Early Registration Deadline Sept. 30
Join us online for the MBA Annual Convention & Expo 2020. We’re bringing the most anticipated industry event of the year directly to your house.
Quote
“While there is a constant lookout for evidence that the recovery is losing steam due to the ending of many major stimulus efforts, the underwhelming August housing starts data does not support that case.”
–Mark Vitner, Senior Economist with Wells Fargo Securities, Charlotte, N.C.
Leading During Turbulent Times (MBA LIVE)
Risk managers face many challenges during this turbulent time, but the mortgage industry has largely been successful in weathering this pandemic, panelists said Wednesday at the MBA Live Risk Management, QA and Fraud Prevention Forum.
GSEs: Recession-Era QC Has Lenders Well-Prepared for Current Crisis (MBA LIVE)
Speaking virtually at the Mortgage Bankers Association’s Risk Management, Quality Assurance and Fraud Prevention Forum, GSE analysts said despite challenges resulting from increased volumes, economic instability and a sharp spike in unemployment–as well an abrupt shift to remote working–lenders have shown adaptability and a commitment to loan quality.
RIHA Study: COVID-19’s Impact on Jobs, Ability to Make Housing, Student Debt Payments
During the first three months of the COVID-19 pandemic, nearly 11 million households fell behind on their rent or mortgage payments and 30 million individuals missed at least one student loan payment, according to new research released today by the Mortgage Bankers Association’s Research Institute for Housing America.