first_imgSubscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily July 6, 2016 1,070 Views Previous: Declining Trend Continues for Bankruptcy Filings Next: DS News Webcast: Thursday 7/7/2016 Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Rising Lease Expirations Do Not Deter SFR Vacancy Rate Morningstar Credit Ratings Single-Family Rental Securitizations 2016-07-06 Brian Honea The Best Markets For Residential Property Investors 2 days ago Related Articles Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. About Author: Brian Honea in Daily Dose, Featured, News Home / Daily Dose / Rising Lease Expirations Do Not Deter SFR Vacancy Rate The vacancy rate remained low across the 24 single-family rental securitizations rated by Morningstar Credit Ratings in May despite rising for a second straight month, according to Morningstar’s June 2016 Performance Summary Covering All Morningstar-Related Securitizations.A fifth straight month of increases in lease expirations in May contributed to the uptick in the vacancy rate across the 24 transactions, according to Morningstar. During that period, lease expirations have increased from 4.1 percent up to 8.1 percent, which, despite being a large increase, is not unusual for the time of year, Morningstar reported.“Morningstar expects lease expirations to continue to rise as summer nears, as tenants prefer moving when children are out of school,” the report noted.Even with the increases, however, the overall vacancy rate has risen from 4.2 percent to 4.3 percent from March to April and 4.3 percent up to 4.4 percent from April to May, according to Morningstar.The delinquency rate across the 24 transactions increased to 0.5 percent in May after four consecutive months of declines. The delinquency rate increased in 20 out of the 24 transactions in May but still remained low at 0.5 percent; only two transactions (ARP 2014-SFR1 at 1.2 percent and SWAY 2014-1 at 1.1 percent) were above 1 percent for May, and both rates were a decline from April.Retention rates remained strong for both full-term leases and month-to-month leases in April, the most recent month for which data was available. Twenty-three out of the 24 transactions had a retention rate of 70 percent or higher for regular leases, and 17 out of 24 reported a retention rate of 80 percent or higher on month-to-month leases, according to Morningstar.“Because more leases are scheduled to expire as the summer months approach, turnover continues to increase and has now risen for four consecutive months,” Morninstar reported.Click here to view the entire Morningstar SFR securitization report.  Print This Post Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Morningstar Credit Ratings Single-Family Rental Securitizations Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

first_img The Best Markets For Residential Property Investors 2 days ago About Author: Stephen M. Hladik in Daily Dose, Featured, Government, Headlines, News Home / Daily Dose / United States District Court Dismisses CFPB Enforcement Claims Over Discovery Abuses CFPB 2017-09-18 Douglas Sullivan In a stunning decision under Federal Rules of Civil Procedure governing discovery, the United States District Court for the Northern District of Georgia dismissed enforcement claims filed by the Consumer Financial Protection Bureau (CFPB) against several entities accused of committing fraudulent debt collection activities. In Consumer Financial Protection Bureau v Universal Debt Solutions, LLC, U.S.D.C. N.D. Ga., 1:15-CV-859-RWS (2017), various defendants filed motions for sanctions under applicable federal rules based upon the conduct of CFPB during discovery. In the opinion, the Court ultimately dismissed six defendants from the action.In order to prepare their defense, various defendants sought discovery from CFPB, including testimony at oral depositions.  Upon receiving notice of the deposition, the CFPB claimed that information was already provided in discovery and that the requests were protected by the law enforcement and deliberative process privilege.  Despite Court orders permitting inquiry into certain areas, the CFPB refused to offer meaningful information outside of what was already provided, drafted a “memory aid” for witnesses to recite, and interposed repeated objections to questions based claims of information being privileged.  Even with Court orders, conference calls, and explanations regarding what is and is not privileged, the CFPB still refused to provide adequate responses.In a powerfully stated conclusion, the Court explained that it:finds that the CFPB willfully violated the Court’s repeated instructions to identify for Defendants the factual bases for its claims and that, in each deposition, it willfully failed to present a knowledgeable 30(b)(6) witness.  In light of the CFPB’s pattern of conduct in this case, the Court is not optimistic that reopening the depositions would be fruitful.  That is especially true given the CFPB’s continued use of privilege objections in response to questions that the Court expressly identified as permissible.  Thus, Defendants’ motions for Rule 37 sanctions . . . are all GRANTED.The decision is a guide as to how parties in enforcement actions may use the discovery process to learn the facts underlying the lawsuit, as well as a good lesson in what can happen when the discovery process is abused. Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles  Print This Post Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Mortgage Contracting Services Celebrates 5-Year Anniversary in Ruston, Louisiana Next: Bank of America Predicting Q3 Trading Losses About Author: Douglas Sullivan Tagged with: CFPB The Week Ahead: Nearing the Forbearance Exit 2 days ago Stephen M. Hladik, Esquire, is a principal in Hladik, Onorato & Federman, LLP. Formerly the youngest Deputy Attorney General in charge of the Harrisburg office of the Pennsylvania Bureau of Consumer Protection, Hladik brings a broad range of experience to his mortgage foreclosure, bankruptcy, tax sale, and UDAP legal practice. Sign up for DS News Daily September 18, 2017 1,603 Views Servicers Navigate the Post-Pandemic World 2 days ago United States District Court Dismisses CFPB Enforcement Claims Over Discovery Abuses Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Meeting the Challenges of Inventory Shortage The housing market in the U.S. fell 7.3 million units short of meeting the demand for homes between 2000 and 2015, according to a report titled Housing Underproduction in the U.S. by Up for Growth National Coalition, ECONorthwest, and Holland Government Affairs.The report, which focused on 22 states and Washington, D.C., found that they fell short by around 5.4 percent of the total housing stock over the 15-year period and that this underproduction had created a supply and demand imbalance that was reflected in today’s high home prices. While almost every state fell short of housing supply, California accounted for over 45 percent of the total supply at nearly 3.4 million units, the report indicated.“The housing shortage is far more severe than originally believed and much more widespread,” said Clyde Holland, Founder, and CEO of Holland Partner Group and Executive Chairman of Up for Growth. “From California to Maine, the supply of housing is simply not matching its growing demand. Not building enough new housing pushes rents up, forces quality of life down, and is a significant drag on the economy.”Making a case for development close to high transit areas to alleviate the supply-demand gap, the report took two future scenarios into consideration. In the first scenario, the report analyzed the development of housing using the current pattern and found that 54 percent of the 7.3 million new units would be single-family homes, 40 percent would be middle and medium density homes such as townhomes, cottage clusters, and mid-rise buildings; and 6 percent would be multifamily apartment towers.This scenario, the study said, would require much more land and infrastructure installation. It would also not cater to the lifestyle choices of younger Americans.In the second scenario, if housing development leveraged existing infrastructure to achieve higher density inside transit corridors, 10 percent of the new 7.3 million units would be single-family homes, while 61 percent would be in the middle and medium density developments. Twenty-nine percent would be in multifamily apartment towers, the study indicated.According to Dr. Chris Herbert, Managing Director of Harvard’s Joint Center for Housing Studies, this report made a strong analytical case for policies that would enable a greater volume of higher density, transit-oriented development. “The findings offer compelling evidence that such policies would reduce infrastructure costs and vehicle miles traveled and expand the supply of housing, helping to alleviate upward pressure on rents and home values,” Herbert said. Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: apartments Cottages Demand Homes HOUSING Single-Family Homes Supply Townhomes Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Meeting the Challenges of Inventory Shortage Related Articles Sign up for DS News Daily center_img  Print This Post The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. apartments Cottages Demand Homes HOUSING Single-Family Homes Supply Townhomes 2018-04-17 Radhika Ojha Previous: The Single-Family Rental Surge Next: For U.S. Housing, When Will Familiar Trends Shift? April 17, 2018 1,881 Views in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Radhika Ojhalast_img read more

first_imgHome / Daily Dose / The Impact of Credit Easing on Homebuyers Subscribe  Print This Post The Best Markets For Residential Property Investors 2 days ago Tagged with: AEI Agencies Credit Easing Credit Risk Fannie Mae FHA First-time Buyers Freddie Mac Homes Housing Market Housing Supply loans VA July 2, 2018 2,049 Views AEI Agencies Credit Easing Credit Risk Fannie Mae FHA First-time Buyers Freddie Mac Homes Housing Market Housing Supply loans VA 2018-07-02 Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The national home purchase market remained strong by the end of the first quarter of 2018 as recent credit easing efforts by the government agencies, especially Fannie Mae, supported the boom, according to the American Enterprise Institute’s (AEI’s) latest quarterly National Housing Market Indicators (NHMI) data released on Monday July 2.The NHMI measure the size of the residential home purchase market by combining data from several sources and covers sales since the fourth quarter of 2012.According to the NHMI data, 6.35 million home sales transactions were reported at the end of the first quarter, up 3.5 percent from the same period a year ago. However, AEI reported a slowing down in the growth rate, contributed largely by a lack of housing supply. “Although there continues to be very strong demand, the supply doesn’t seem to be expanding in sufficient amount to drive the annualized home sales more rapidly,” said Edward Pinto, Co-Director, Center of Housing Market and Finance at AEI, while presenting the findings of the NHMI.The current increase in sales marked the 14th consecutive quarter of such increases despite a 7.3 percent year-over-year jump in FHFA’s national house price index in Q12018, the NHMI data indicated.Looking at originations by the agencies, the NHMI data indicated that credit easing is likely to become capitalized in price in a market like this one, where the supply is constricted. “While FHA, Fannie, Freddie, and the VA have all been pro-cyclically supporting the boom through credit easing, Fannie’s recent credit easing efforts have been breathtaking,” AEI said.Credit easing also indicates a higher mortgage risk, with the study’s National Mortgage Risk Index (NMRI) increasing from already elevated levels a year ago. The index which has now risen at more than 2 percent year-over-year for FHA loans was slightly higher for first-time buyers than for repeat buyers. “For 2018 we expect continued easing for first-time buyers and FHA, helping fuel accelerating house price growth for entry-level homes,” Pinto said. “Entry-level homes will be less affordable and first-time buyers will be faced with a higher risk of default.”Looking at the share of mortgage for first-time buyers, AEI found that the agency first-time buyer mortgage share index at the end of Q1 was slightly below its series high during the same period last year. The index stood at 60 percent down from 60.2 percent a year ago, but up from 56.8 percent four years ago. “We can only expect modest increases or even a slight decrease moving ahead in 2018,” Pinto said.An interesting trend indicated on the NHMI was the increasing competition between Fannie and FHA for first-time buyers, which according to Pinto was a worrying trend. “Over the last nine months, Freddie has largely resisted this trend, but will likely eventually have to compete as well,” Pinto said. Demand Propels Home Prices Upward 2 days ago Related Articles Sign up for DS News Daily center_img Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. About Author: Radhika Ojha Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Impact of Credit Easing on Homebuyers Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share 1Save The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News Previous: Flip-Flop: Cities with the Biggest Changes in Rent Next: Is the Housing Market Over-leveraged?last_img read more

first_img Demand Propels Home Prices Upward 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: NMSA and HUD Work to Improve CWCOT Program Next: How Many Americans Cite Housing as Primary Debt Driver? The Week Ahead: Nearing the Forbearance Exit 2 days ago A Look Back at Real Estate Performance Subscribe The Best Markets For Residential Property Investors 2 days ago Applications mortgage 2020-02-26 Seth Welborn  Print This Post About Author: Seth Welborn in Daily Dose, Featured, Market Studies, News Home / Daily Dose / A Look Back at Real Estate Performance Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago February 26, 2020 1,213 Views Tagged with: Applications mortgage Servicers Navigate the Post-Pandemic World 2 days ago From rent and home price appreciation to loan performance and the end of LIBOR, CoreLogic’s latest Market Pulse report reviews the most important data for servicers and lenders alike. According to the report, U.S. single-family rents increased 2.9% year over year in December 2019, while the national CoreLogic Home Price Index increased more than 3% in 2019 and is forecast to rise about 5% in 2020.CoreLogic found that the nation’s overall delinquency was 3.9% in November 2019, which is a marginal decline from last year’s 4%. November’s reading was the lowest reading for November in more than 20 years.The share of delinquent mortgages in November historically peaked in 2009 at 11.5%. Since March 2018, the overall delinquency rate each month has been lower than the pre-crisis period from 2000 to 2006. The rate averaged 4.7% during that time.The report also covered the end of LIBOR. Jacqueline Doty, Executive, Product Management, Collateral Risk Solutions at CoreLogic, explained that the end of LIBOR will impact $1.2 trillion dollars in adjustable-rate mortgages.”It means that lenders with loans or lines of credit based on the LIBOR index will need to identify and review the terms of all of their LIBOR loans,” said Doty. “A portfolio of loans likely contains a wide variety of terms regarding LIBOR, and this will need to be assessed.”LIBOR’s end is likely to impact more than lenders and borrowers. According to Fitch Ratings, U.S. RMBS servicers showed an improved awareness of difficulties and implications tied to the anticipated expiration of LIBOR at the end of 2021.To help facilitate the likely transition away from LIBOR, Doty notes that the Federal Reserve convened a working group called the Alternative Reference Rates Committee. The ARRC has recommended an alternative to the LIBOR index called the Secured Overnight Financing Rate (SOFR) and has started promoting its use on a voluntary basis.Lenders may need to face modification. Between now and the end of LIBOR, there’s a good possibility that many loans will need to be modified because the fallback provisions are either nonexistent, unclear or impractical.”For example, in some cases, the margin cannot be adjusted and it is either too high or too low when added to the new alternate index,” Doty said.But there’s no need to panic just yet,” she adds. “The good news is there’s still time to successfully manage a smooth and efficient transition. Now is a good time for lenders to start auditing their loan data and documents and planning for fulfillment of amendments or borrower notifications.” Servicers Navigate the Post-Pandemic World 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

first_img Servicers Navigate the Post-Pandemic World 2 days ago Previous: Proposed Bill Would Enact Automatic Forbearance, Prohibit Foreclosures Next: Targeted Training for Brokers Announced Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Mortgage delinquencies could remain above pre-pandemic levels until 2022, according to a new forecast published in the Black Knight Mortgage Monitor Report.Black Knight is also predicting more than 1 million excess delinquencies could occur in March 2021 when the first wave of forbearances reaches the 12-month expiration period. The Jacksonville, Florida-based company also observed that the mortgage market has seen five months of continual increases in serious delinquencies, albeit at a slower pace during August, compared with the three-to four-month peak typically seen in 90-day delinquencies following natural disasters.“For the first several months of the pandemic, the performance impact of COVID tracked relatively closely to that of major hurricanes,” said Black Knight Data & Analytics President Ben Graboske. “Those trends have since begun to diverge, however, and looking at the three-month average rate of improvement since May’s peak in mortgage delinquencies suggests a longer recovery timeline. At the current rate of improvement, delinquencies would remain above pre-pandemic levels until March 2022.”During August, Black Knight determined that 2.4 million homeowners who received coronavirus-related forbearance plans have since exited those plans, with most of the borrowers currently performing. This represents 41% of all homeowners who have been in forbearance plans.“Of those no longer in forbearance but still past due, the vast majority–some 267,000–are in active loss mitigation programs with their lenders,” Graboske said. “Just 54,000 loans at present represent significant risk–having left forbearance, are past due and not engaged in loss mitigation efforts.”Graboske also pointed out that record levels of equity helped to mitigate foreclosure risk. Black Rock’s latest data estimated that nearly 45 million homeowners have tappable equity in their homes, the largest volume ever. The average level stands at nearly $125,000, a record-breaking increase of more than $3,200 from one year ago.“Seventy percent of those were already delinquent in February, before COVID became a factor,” he continued. “Furthermore, American homeowners now have the most equity available to them in history. Of those in forbearance, just 9% have less than 10% equity in their homes, which offers both borrowers and lenders multiple options in lieu of foreclosure.” The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Phil Hall Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save October 5, 2020 1,501 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Delinquencies Above Pre-Pandemic Levels Predicted Into 2022 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago  Print This Post Delinquencies Above Pre-Pandemic Levels Predicted Into 2022 Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2020-10-05 Christina Hughes Babb Subscribelast_img read more

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago 2021-03-12 Christina Hughes Babb  Print This Post in D&I, Daily Dose, Featured, Government, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago “It is daunting to take on a representation gap so huge that it would take over a century to close without intervention,” he said.In 2018 Fannie created Future Housing Leaders (FHL) to use its position in the housing ecosystem by rallying its customers in a concerted effort to diversify the housing industry. The program involves partnering with university-backed initiatives to connect college students to paid summer internships and early career opportunities in the housing industry, with an emphasis on recruiting where historically underrepresented groups can be made aware of these opportunities.”While this undertaking is not an easy feat, it is exciting to tackle this challenge with steadfast partners who share Fannie Mae’s commitment to promoting diversity, equity, and inclusion,” Imo said. “If we succeed, our efforts will have a resounding impact on the housing industry, homebuyers and renters, and the careers of Future Housing Leaders participants.” Previous: The Week Ahead: Overcoming Barriers to Create Economic Equality Next: Most Valuable Company Profile: Mortgage Contracting Services, LLC About Author: Christina Hughes Babb Recommendations for Closing the Diversity Gap in Housing Home / D&I / Recommendations for Closing the Diversity Gap in Housing Share Savecenter_img March 12, 2021 1,246 Views Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago A pandemic that in the past year has changed every American’s way of life also has illuminated and exacerbated shortcomings in the U.S. economy and housing.”We Can’t Wait 114 Years to Close the Diversity Gap in Housing”—it’s the central theme of an essay from Kenneth Imo, VP of Diversity and Inclusion at government-sponsored enterprise Fannie Mae.”Over the past year, social unrest and the pandemic have cast a glaring spotlight on the persistence of systemic racial and socioeconomic inequity, including the widening wage gap between White and People of Color households,” Imo wrote. “For most of America, sustainable homeownership has been a main driver of generational wealth accumulation. However, laws mandating segregation, and policies and practices such as redlining, which prevented Black homebuyers from accessing credit for home and business mortgages, created inequitable access to homeownership and the financial rewards accompanying it.”He points out that the housing sector is further behind when it comes to inclusion and diversity than the country as a whole.The Brookings Institute in 2019 showed Whites, Hispanic or Latino, Blacks, and Asian Americans currently represent 60.1%, 18.5%, 12.5%, and 5.9% of the U.S. population, respectively.When it comes to the population of Americans working within housing-finance and related areas, those numbers shift to 71.6% White, while Hispanic or Latino, Blacks, and Asian Americans represent 9.1%, 7.5%, and 9.4%, respectively.”It is imperative that the industry reflect the country it serves to more effectively address the inequities …,” he noted.And this ostensibly impacts the share of Americans who own homes. The rate of Black homeownership today is 29 percentage points lower than for White households, according to the U.S. Census Bureau.The median wealth of White households ($162,800) in 2016 was ten times higher than Black households ($16,300), and eight times higher than Hispanic households ($21,400), which is partially attributable to historically lower homeownership rates among these groups, as reported by the Joint Center for Housing Studies of Harvard University. A separate report from Redfin just showed that despite the “substantial home-equity uptick” in 2020, Black Americans who bought in 2019 still have a median of $89,000 in equity, much lower than $113,000 for white Americans.“Black homeowners benefited from 2020’s hot housing market, and the trend is continuing into this year as Americans remain intensely interested in relocating and buying homes and home values continue to rise,” Redfin’s Chief Economist Daryl Fairweather said. “But less than half of Black Americans own the home they live in, so most of the Black community didn’t benefit from the enormous wealth homeowners have gained in the past year. Especially compared with the three-quarters of White Americans who own their homes, the total benefit for Black families across the country is relatively small. With higher unemployment rates and less overall wealth, Black families were not as likely as White families to buy homes even when prices were comparatively low.”Redfin’s economist echoes the idea that COVID-19 illuminated and exacerbated the problems of inequitably and inequality.”Now that prices are so high and the pandemic has contributed to high unemployment, especially for Black workers, it’s even more difficult for people who don’t already own homes to break into the housing market,” Fairweather continued. “There is a major need and a big opportunity for policymakers to enact programs like down-payment assistance and zoning reform to help narrow the homeownership gap and enable more Black families to build wealth through home equity.”Racist housing policies like redlining and racial covenants, which have been illegal for decades, continue to contribute to homeownership and wealth gaps between Black and white Americans, she added.Imo and Fannie Mae are floating a solution to the dilemma, which feels overwhelming when one examines the numbers, saying, “We must act with intentionality.” Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

first_img Twitter NPHET ‘positive’ on easing restrictions – Donnelly By News Highland – May 19, 2010 Guidelines for reopening of hospitality sector published Facebook Twitter WhatsApp Pinterest Three factors driving Donegal housing market – Robinson Previous article27-year-old arrested in Derry charges with firearms related offenceNext articleSoldier who was victim of cannabis prank refused extension of army contract News Highland Google+ Less than 1 in 10 drivers involved in serious car crashes were tested for alcohol between 2003 and 2005The PARC road safety group is appearing before an Oireachtas Committee on transport this afternoon to discuss the Road Traffic Bill 2009.Chairwoman and founder of Parc Susan Grey says that drivers involved in serious crashes have got to be tested for alcohol.[podcast]http://www.highlandradio.com/wp-content/uploads/2010/05/08susa1.mp3[/podcast]center_img News WhatsApp Calls for maternity restrictions to be lifted at LUH 1 in 10 drivers involved in serious crashes tested for alcohol between 2003 and 2005 Facebook Help sought in search for missing 27 year old in Letterkenny Pinterest 448 new cases of Covid 19 reported today RELATED ARTICLESMORE FROM AUTHOR Google+last_img read more

first_img Google+ Nine Til Noon Show – Listen back to Wednesday’s Programme Mac Lochlainn to question garda commissioner at Justice Committee Facebook Pinterest Calls for maternity restrictions to be lifted at LUH Facebook WhatsApp RELATED ARTICLESMORE FROM AUTHOR NPHET ‘positive’ on easing restrictions – Donnelly GAA decision not sitting well with Donegal – Mick McGrath By admin – November 11, 2015 center_img Twitter WhatsApp Google+ Homepage BannerNews Twitter Three factors driving Donegal housing market – Robinson The Garda Commissioner is due to speak in front of the Joint Oireachtas Committee on Justice later today.Noirín O’Sullivan is expected to answer a wide range of questions in relation to the force, on issues such as training, rural crime and the Provisional IRA.Donegal North East TD Padraig Mac Lochlainn, the Sinn Fein Justice Spokesperson, says he has a number of issues to raise with the Commissioner………….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/11/podcomm1.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Previous articlePSNI renew appeal for information about Waterfoot Hotel bombNext articleA thank you from Finn Harps admin Pinterest Guidelines for reopening of hospitality sector publishedlast_img read more

first_img RELATED ARTICLESMORE FROM AUTHOR By News Highland – July 26, 2011 Guidelines for reopening of hospitality sector published Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Twitter Google+ Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton A date for the hearing of a High Court action against Donegal County Council over a recent co-option will be set on Thursday.Solicitor Dessie Sheils has been granted a judicial review in the High Court over the co-option of Michael McBride to replace Senator Jimmy Harte.Mr Sheils contests that the council seat should have been filled by a non-party candidate as Senator Harte was a independent when he was elected.The Labour Party insists that Councillor McBride was not a member of any party when he was co-opted in May of this year.Yesterday Councillors formally gave the County Manager the OK to defend the action. Facebook WhatsApp Calls for maternity restrictions to be lifted at LUH center_img Twitter Date for council co-option challenge to be set on Thursday Previous articleFive men arrested in connection with Ronan Kerr murderNext articleKFC robbed in Strabane News Highland Pinterest Google+ Almost 10,000 appointments cancelled in Saolta Hospital Group this week Facebook Three factors driving Donegal housing market – Robinson Newsx Adverts WhatsApplast_img read more