FHFA Says It Found Racial Bias in Appraisals
The federal housing agency claims it saw thousands of cases of potential bias, based on a keyword search for red-flag words in millions of appraisals.
Buyers Are Going to Santa Claus (Indiana)
Looking to live on Silver Bell Circle or Mistletoe Drive? Agents in Santa Claus, Ind., say buyers from across the U.S. are moving in due to the town’s name.
What Does 2022 Hold? NAR Asked 20 Experts
Housing prices will climb 5.7% and inflation, while declining, will be 4%. NAR Chief Economist Yun predicts interest rates will rise to a still-low 3.5%.
New-Home Starts Surge 11.8% Higher in Nov.
The jump follows a few months of moderate growth, and both single-family and multifamily improved. Building permits, a sign of future work, rose 3.6%.
DOJ Reaches Record Sexual Harassment Settlement: $4.5M
A N.J. landlord will pay $4.5M to settle DOJ’s lawsuit and an additional $107K civil penalty – the largest amount allowed under the Fair Housing Act.
1 in 5 Buyers Single Women – Twice the Percentage of Men
Single men and women buy homes for the same reason – a desire for ownership – but while 19% of all homebuyers are female, only 9% are men.
Evictions Slowly Rise After Ban Ends
Pundits who predicted a wave of rental evictions after the ban ended were wrong, in part because the process takes time. But evictions seem to be picking up.
Fed Meets: Expect 3 Interest Rate Hikes in 2022
In an abrupt policy shift, the Fed will also stop economy-boosting bond purchases twice as fast as planned, and possibly halt that program altogether in March.
Multifamily Owners Also Holding on to Property
It’s not just single-family owners holding onto homes: Multifamily owners have lengthened their hold periods due to cap rates, inflation and market dynamics.
Citizens’ Board Rejects 8% Rate Hike, Asks for 11%
After the Fla.-owned property insurer’s staff announced its recommendation – an 8% average policy rate increase – the board rejected it and now wants a full 11%.