Fannie Mae: Housing Crisis Will Last a Decade
Recession or not, the U.S. doesn’t have enough entry-level homes for everyone who needs one, and it will take at least 10 years for supply to catch up with demand.
Broward May Make Condo Safety Records Public
It may get easier for Broward condo buyers to find building safety reports. An online resource would give owners structural reports and update the status of repairs.
Lots of Interest Rate Increases? Fed Seems Unsure
The Fed’s meeting notes this month suggest disagreement among the ranks, but they still plan on some rapid increases followed by time to “assess the effects.”
Does Reality TV Skew Buyers’ Perceptions?
Reality home shows capture the real estate business’s glitz and glamour, but not so much the minutiae and stress. One agent calls them “horrible” for the industry.
30-Year Mortgage Rate Drops to 5.1%
The average rate on a 30-year, fixed-rate loan fell for the second week in a row but still hovered just over 5%. One year ago, a 30-year FRM averaged 2.95%.
NAR: April Pending Sales Down 3.9%
It marks “six consecutive months of declines and the slowest pace in nearly a decade,” says NAR’s chief economist. Year-to-year, pending sales were down 9.1%.
Fla. Lawmakers Pass Insurance, Condo Reforms
In a special session this week, the Florida Legislature passed a roster of bills to ease problems in the state’s insurance market, including SB 2D, which Florida Realtors heavily supported. Lawmakers also took steps to improve the safety of condo buildings.
Rising Home Prices Hurting Rental Returns
Attom study: Between 2021 and 2022, rental returns on a three-bedroom house declined in three out of four counties – largely because home prices rose 15%.
Condo Issues Emerge During Special Session
The Florida Legislature put condo safety on this week’s agenda by adding inspections and new financial requirements into a bill by way of an amendment.
Judge Increases Surfside Collapse Money to $96M
A previous property settlement of $83 million – which doesn’t include a separate loss-of-life case – was increased to $96 million on Tuesday.