The U.S. Supreme Court unanimously ruled Thursday that a statutory definition of what constitutes an “autodialer” was overly broad, giving Facebook and a number of businesses, including the Mortgage Bankers Association, a decisive legal victory.
On Wednesday, the Biden Administration released its $2 trillion-plus American Rescue Plan, an ambitious proposal to invest in infrastructure, create jobs and position the U.S. to compete better globally—of which housing plays a central role.
Initial claims for unemployment insurance rose by more than 60,000 last week—a setback after the previous week’s sharp drop. But the Labor Department said the positive downward trend is likely to continue.
Fitch Ratings, New York, said rental assistance provided under the American Rescue Plan will help renters and multifamily property landlords, but the extent to which the ARP can keep delinquencies low is uncertain, as the amount of unpaid back rent is difficult to estimate due to lack of data.