Fed Message: Inflation Fight May Cause Recession
Fed Chair Powell hoped for an economic soft landing but said it’s increasingly unlikely. “I wish there were a painless way to (get inflation down),” he said. “There isn’t.”
iBuyer Opendoor Reports Losses as Markets Shift
When home prices were rising, the iBuyer made “easy profits,” but some think its losses now – 42% of all its Aug. sales – mirror Zillow’s failed iBuying venture.
Roller Coaster Ride for Fla. ‘Insurer of Last Resort’
Fla. wants to minimize the number of policies in state-operated Citizens Property Ins., but the number has skyrocketed and plunged over its two-decade existence.
Top RE Industry Players Discuss Affordable Housing
NAR and other real estate groups met at the White House Wed. for a “candid discussion” on construction, zoning reforms, financing expansion and tax incentives.
NAR Will Plant One Tree for Every Realtor
A tree will soon symbolize your Realtor membership. In partnership with the National Forest Foundation, NAR will plant more than 1.5M trees by 2025.
Long-Term Mortgage Rates Climb to 6.29%
The average 30-year, fixed-rate mortgage didn’t spend much time hovering around the 6% mark. It rose 0.27 percentage points this week, up from last week’s 6.02%.
Fed Raises Interest Rates 3/4 Point for Third Time
In a fight to curb inflation, the Federal Reserve pushed rates higher and will likely do so again. It impacts mortgages indirectly, but rates are still expected to move higher.
Aug. U.S. Rent Increases Outpace Fla. Increases
At 10.7%, Orlando came closest to the national year-to-year rise of 11%. It was 10.3% in S. Fla. counties – and median rents actually fell 1.8% in Jacksonville.
NAR: Aug. Existing-Home Sales Slip 0.4%
National sales declined for the seventh straight month, down 0.4% from July and 19.9% year-to-year. The median home price is still rising, however, up 7.7% in Aug.
Some Airbnb Hosts Don’t Love Airbnb
Airbnb guests don’t hold back on social media, complaining about costs, amenities and more. Now Airbnb owners are starting to complain about their guests.