02 February 2024
After nine days waiting at the Roosevelt Hotel migrant intake center to get placed in a new shelter room, Karolynn Díaz returned to the Row Hotel, where she’d spent her first five months in New York City. Along with a bag of her children’s toys and clothing, the 27-year-old single mother from Venezuela, unable to […]
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01 February 2024
In the United States, pent-up demand for single-family homes is as high as 6.5 million units. But supply is very limited because many homeowners are locked into existing mortgages with rates as low as 3%. Because of inflation, caused by excess stimulus and global supply chain disruptions, prices for single-family homes have soared. Now housing inflation has stabilized, and […]
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01 February 2024
Yesterday, the Federal Reserve announced it will keep the federal funds rate steady for now. In his press conference following the meeting, Fed Chair Jerome Powell said that while officials do expect to lower rates this year, they’re not in a rush to do so. Mortgage rates are expected to go down in 2024 once we get a […]
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01 February 2024
Regional U.S. bank stocks sank on Wednesday, dragged by a 38% plunge in the shares of New York Community Bancorp (NYCB.N), opens new tab after it cut its dividend and posted a surprise loss, renewing fears over the health of similar lenders. The KBW Regional Banking Index (.KRX), opens new tab closed down 6%, its biggest one-day drop since […]
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31 January 2024
Last week, my students and I worked with several unhoused persons who had been recently living in dangerous, unhealthy apartments or homes in our community of Indianapolis. One, a young mother of a toddler with another baby soon on the way, had just left a home where eight people across three generations were living. The […]
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31 January 2024
A federal judge has ruled that a Chapter 13 debtor whose home was sold at a foreclosure auction before he filed his bankruptcy petition did not retain his equity of redemption. The debtor, plaintiff Andy Luu Tran, argued in an adversary proceeding in U.S. Bankruptcy Court that because the foreclosure deed was not notarized, it […]
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31 January 2024
I recently had a crucial need for a comprehensive mortgage audit and found invaluable assistance through Mortgage Audit Online (MAO). From the outset, their founder and CEO, Shawn, promptly addressed my concerns and explained their services in clear and understandable terms. What initially caught my attention was their commitment to providing a free consultation, along […]
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30 January 2024
Half of renters in the United States have found themselves paying more than they can afford, following years of surging rents. But an increase in the construction of multiple-unit buildings has boosted the supply of apartments, which is slowly beginning to rein in runaway rents. Nationally, rents declined annually in December for the eighth straight month, […]
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30 January 2024
Renters in the city of Los Angeles face a big deadline this week. If they don’t repay all of the rent debt they accrued during the COVID-19 pandemic by Thursday, they could be evicted. Feb. 1 marks an end to the city’s long-running eviction protections for delayed payment of rent due to the economic fallout […]
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30 January 2024
Mayor Brandon Johnson preempted an outcry from migrants and their supporters Monday, announcing he would not enforce a looming Thursday deadline to start kicking recent arrivals out of city-run shelters. On the eve of a Chicago City Council hearing called to probe conditions at the city’s migrant landing zone and shelters and days before thousands […]
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26 January 2024
NEW YORK (Reuters) – Pending U.S. home sales shot up in December by the most since June 2020, a report showed on Friday, indicating prospective buyers may be getting drawn from the sidelines by stabilizing mortgage rates. The National Association of Realtors Pending Home Sales index rose 8.3% to 77.3, rebounding from a downwardly revised […]
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26 January 2024
In 2022, half of all renters were cost burdened, spending more than 30 percent of their income on rent and utilities. According to a new report from the Harvard Joint Center for Housing Studies, this represents a record high of 22.4 million Americans who are cost burdened. In fact, among those renters, 12.1 million were […]
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26 January 2024
Maryland may have had the most foreclosures in December, but for the year as a whole, three of the country’s real estate hotspots also took home the unfortunate top prize for more filings on an annual basis. Florida was No. 1 with 35,813 foreclosures, followed by California with 32,905 foreclosure filings and Texas with 30,467. That California […]
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25 January 2024
LOS ANGELES — The average long-term U.S. mortgage rate climbed to a six-week high this week, pushing up borrowing costs for homebuyers already facing the challenges of rising housing prices and a shortage of homes for sale. The average rate on a 30-year mortgage rose to 6.69% from 6.6% last week, mortgage buyer Freddie Mac […]
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25 January 2024
WASHINGTON, Jan 25 (Reuters) – The U.S. economy likely grew at its slowest pace in 1-1/2 years in the fourth quarter as businesses throttled back on inventory investment and consumer spending cooled a bit, but the pace was probably enough to have kept a recession at bay in 2023. The Commerce Department’s advance fourth-quarter gross […]
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25 January 2024
WASHINGTON (Reuters) – Sales of new U.S. single-family homes increased strongly in December, boosted by declining mortgage rates and a persistent shortage of previously owned houses on the market. New home sales rebounded 8.0% to a seasonally adjusted annual rate of 664,000 units last month, the Commerce Department’s Census Bureau said on Thursday. November’s sales […]
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24 January 2024
Higher rents and eviction proceedings — even those that do not result in evictions — are linked to increased mortality, according to a newstudy by researchers at the University’s Eviction Lab and the Census Bureau. Nick Graetz is the lead author of the paper and a postdoctoral research associate at the Eviction Lab, a group of researchers […]
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24 January 2024
During his State of State speech last week, Gov. Spencer Cox joked “I would love to build a wall around our state — and get California to pay for it — but that is not going to happen.” Cox went on to talk about more serious solutions, like his proposed Utah First Homes program which aims to build 35,000 […]
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24 January 2024
AARP Delaware intends to focus more on housing affordability and accessibility in 2024. Using data from the United States Interagency Council on Homelessness (USICH),the U.S. Census, and the Eviction Lab, AARP conducted a 9-year analysis on homelessness and eviction trends in Delaware, starting in 2019 and including predictions up to 2027. The analysis shows a […]
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23 January 2024
NORMAN, Okla. (KFOR) — A woman says her landlord evicted her family after she refused to pay rent until her landlord cleaned mold and water damage in their apartment. The woman reached out to News 4 after she saw a story News 4 did about another tenant’s issues at the same apartment complex last week. In that story, […]
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23 January 2024
With elevated interest rates and persistently high home prices, American homebuyers have felt firsthand the squeeze on their budgets. According to real estate mogul Grant Cardone, the necessity for substantially longer mortgage terms is on the horizon. “The savior of America will not be lower prices, it will be longer mortgages,” he said in a December […]
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23 January 2024
A housing support scheme has launched with the aim of preventing people with mental health issues from being evicted. The service from Revival, part of housing association Honeycomb, seeks to work with tenants in north Staffordshire to tackle anti-social behaviour. The organization, based in Stoke-on-Trent, said many of the problems occurred as a result of […]
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