MBA Mortgage Action Alliance Call to Action Urges Support for Affordable Housing Legislation
The MBA Mortgage Action Alliance this week issued a Call to Action, urging its members to contact their members of Congress in support of bipartisan, bicameral legislation designed to improve, expand, and create tax credit programs that increase affordable housing supply for renters, homeowners and buyers.
Redfin: Home Relocation Near Record High
The share of Redfin.com users looking to move to a different metro area is near its record high as high rates and prices up the appeal of affordable places.
October Construction Spending Down; ISM Index Contracts for 1st Time Since 2020
Construction spending dipped in October, the Commerce Department reported Thursday, with slight increase in public construction offset by a decline in private construction. Separately, the Institute for Supply Management, Phoenix, reported its Manufacturing Report on Business fell for the first time in two and a half years.
Trepp: Life Insurance Returns on Pace for Worst Performance to Date
Trepp, New York, released its third quarter returns report for its life insurance commercial mortgage index, reporting the 2022 year-to-date return is predicted to be the lowest since Trepp started collecting LifeComps data in 1996.
Dealmaker: VICI Properties Inc. to Acquire Remaining 49.9% Interest in MGM Grand Las Vegas, Mandalay Bay
Blackstone Real Estate Income Trust Inc., New York, and VICI Properties Inc. announced jointly a definitive agreement in which VICI, currently owner of a 50.1% interest in the joint venture that owns MGM Grand Las Vegas and Mandalay Bay Resort, will acquire BREIT’s 49.9% interest in the joint venture for cash consideration of $1.27 billion.
