Biden Taking Aim at Appraisal Bias, Housing Disparities
The president is launching a first-ever interagency effort to address “home appraisal inequities” and recommend rules to “aggressively combat housing discrimination.”
Builders Offering Survivalist Homes to Wary Buyers
What could go wrong? Buyers skittish about climate change or economic upheavals can buy new off-the-grid homes that would be self-sustainable after a disaster.
Biden Administration Wants to Help Solve Lumber Problems
NAHB says Pres. Biden is uneasy about the rising cost of lumber and homebuyer problems. Builders proposed a summit that includes the lumber industry and Dept. of Commerce.
Construction Spending Posts Modest 0.2% Gain in April
The residential component proved strongest with a 1% month-to-month gain and a 29.7% year-to-year gain, while non-residential fell 0.5% by month and 4.8% by year.
Floridians Upbeat About the Present – Bit Less About Future
UF: Consumer confidence in Fla. dropped 1.4 points in May, because a small uptick in current attitudes wasn’t enough to counter a slight downturn in future expectations.
Some Lenders Say They’ll Resume Foreclosures in July
Bank of America says it will resume foreclosures in July, though “the amount … is way down, and most of the clients have become current,” and JP Morgan Chase says 90% of customers have left forbearance. But Wells Fargo plans to wait until 2022 to resume foreclosures.
Can Large Retirement Communities Grow Too Big to Survive?
If a retirement community’s residents don’t work, who does? Big ones, such as The Villages, can’t attract enough working-age adults, and labor costs keep going up.
Is It OK to Ride Out a Hurricane on the 40th floor?
While a homeowner on the 40th floor of a Fla. high-rise has little to fear from storm surge, wind strength increases with elevation. Advised to evacuate? Best to do it.
NAR Partners with LGBTQ+ Real Estate Alliance
The National Association of Realtors says the new partnership will “identify training opportunities … cultivate LGBTQ+ leaders and mobilize members.”
April Pending Home Sales Drop 4.4% Month-to-Month
Year-to-year, however, pending sales skyrocketed 51.7% since April 2020 was the start of nationwide lockdowns to fight a spreading pandemic. NAR Economist Yun says contract signings now are near pre-pandemic levels after the big surge during COVID-19 lockdowns.