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Category: News and Trends
Redfin: Drought-Affected Areas Seeing Growth
An estimated $17 trillion worth of homes—nearly 25 million properties—experienced intense drought in August, up 42% from a year earlier. It’s not stopping property-hungry borrowers, according to Redfin, Seattle.
ADP: August Employment Slows for 2nd Straight Month
In the second of four major jobs reports this week, ADP, Roseland, N.J., said private-sector employment rose by a modest 132,000 jobs in August, slowing for the second straight month, while annual pay increased by 7.6 percent.
Multifamily Professionals See Increased Demand in Second Half
The multifamily market is seeing increased demand despite rising rent and interest rates, reported Berkadia, New York.
Murali Tirupati of Vaultedge: Rising Interest Rates and their Effect on the Housing Market
While the Fed may influence mortgage rates, it is ultimately lenders and investors who decide what rate to offer based on market conditions and other factors.
MBA Education Path to Diversity Scholar Profile: Suha Beidas Zehl
(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
Dealmaker: Cushman & Wakefield Arranges $69M New Hampshire Industrial Sale
Cushman & Wakefield, New York, arranged $69 million for the Northeast Industrial & Flex Portfolio, a four-building portfolio totaling 593,000 square feet in New Hampshire.
MBA Weekly Survey Aug. 24, 2022: Rates Jump; Activity at ‘Multi-Decade Low’
Mortgage applications fell for the fourth straight week, remaining at their lowest level in 22 years as interest rates jumped to its highest level since July, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending August 26.
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“We have long supported the responsible expansion of FHLB membership eligibility to better reflect the diverse providers of single-family and multifamily housing finance throughout the country. The Banks’ membership framework has only seen piecemeal updates since its creation, and there’s a need for an FHLB system that better reflects today’s housing finance market — not one from the 1930s.”
–MBA President & CEO Bob Broeksmit, CMB.
Mark P. Dangelo: Strategy is NOT Dead—Across Housing Finance and Technology it is Too Traditional
Designing the future beyond the current downturn requires a comprehensive examination of what is necessary across digital financial actions—by the consumer, by the investor, by the regulators, and by rising non-traditional competitors. Traditional strategy encased by technology is the norm—but moving forward has this prescription lost its efficacy? Will we adapt—or will we die?