Millennials Stress as Economy Undermines Their Ownership Goals
Many millennials saved a partial down payment and could visualize being a homeowner until rising rents and surging home prices kicked the ball farther away.
3 U.S. Agencies Pressure States to Help Evicted Tenants
HUD, the Treasury and the U.S. Attorney General sent a letter to local and state governments, asking them to work with the courts and even consider a local eviction ban.
Condo Q&A: Board Thinks One Condo Is Bigger than It Is
Larger condo units pay higher dues each month, but the board’s records show that one unit is bigger than it really is. How can the unit owner correct it?
NAR: Pending Home Sales Drop 1.8% in July
Year-to-year contract signings declined 8.5%. NAR Chief Economist Lawrence Yun says the market may be cooling a bit, but there’s still not enough supply to match demand – yet “inventory is slowly increasing” and buyers should “see more options in the coming months.”
Lumber Prices Plummet – But Other Building Costs Soar
The all-time high cost of $1,700 for a thousand board feet has dropped to $500, but steel products are up 10.8% and gypsum (for drywall) is up almost 16% this year.
Frustrated House Hunters Give Up on Buying a Home
Buyers stressed by bidding wars and limited listings are often worn thin, and unprepared to handle the roster of “normal” things that can threaten to upend a transaction.
Mortgage Lender Gives $500K Discount to Vaccinated Borrowers
Neat Loans says COVID-19 created a new health risk for borrowers, and the credit is one way to lessen the chance that one of its loans will go into foreclosure.
FAU Economist Says Homes ‘Less Overpriced’ in July
The overheated market may be slowly cooling. Even if July numbers just reflect the usual summer slowdown, it could mean traditional patterns are starting to return.
A Secret Bias Hidden in Mortgage-Approval Algorithms
An investigation found lenders still strongly favor white borrowers, but it raised a new question: What if a lender isn’t biased but its data, notably credit scores, is?
Eviction Ban Ends – Realtor Groups Win in Supreme Court
In late June, the U.S. Supreme Court ruled that the CDC overstepped its authority in issuing an eviction moratorium, and it reiterated that opinion yesterday, ending the current ban. Justices didn’t disagree with the ban’s intent but said Congress “failed to act in the several weeks leading up to the moratorium’s expiration.”