3221 Harrison Pike Chattanooga, TN 37406 | Phone: (423) 624-9992 | Fax: (423) 624-9435

www.hbagc.net

Housing Headlines

Housing Headlines

Economy

 

Construction Dive

5 charts that reveal the future of residential construction

The residential construction industry's recovery has moved along a slow and steady path as the housing market struggled to find its footing after the crash eight years ago. Despite the lack of surging growth in homebuilding, economists are optimistic about the industry's future — especially now that the market has been able to move past the boom and bust ramifications.


Construction Dive
CoreLogic: Home prices climb 2% as housing industry drives economic growth

U.S. home prices, including distressed sales, increased 2.1% between February and March and 6.7% between March 2015 and March 2016, CoreLogic reported in its Home Price Index Tuesday.


CNBC
Millennials are moving, but mortgages don't follow

It is the number one barrier to entry for young, would-be home buyers: Credit. Millennials are the first generation to come of age in a post-almost-apocalyptic housing market, where lenders, eight years later, are still paying billions in reparations for mortgage misconduct and outright fraud.

 

 

CNBC
Mortgage applications down 3.4% on another slight rate gain

It was yet another small tick higher for interest rates last week, and it was enough again to hold borrowers back from applying for a mortgage.

 

 

GSEs

 

The Hill
Housing groups argue Freddie Mac's loss should spur finance reform

Housing industry and mortgage advocates say Freddie Mac's $354 million first-quarter net loss should sound an alarm on Capitol Hill that there is an urgent need to overhaul the nation's housing finance system.

 

 

MarketWatch
Freddie Mac reports small enough loss to avoid bailout

Mortgage buyer Freddie Mac on Tuesday said it lost money in the first quarter, but the red ink wasn't large enough to force it to request a government infusion.

 

The Wall Street Journal
Fannie Mae to Pay $919 Million Dividend to Treasury as Profit Falls

Fannie Mae said it would send a $919 million dividend payment to the U.S. Treasury in June and reported that its net income declined in the latest quarter amid falling interest rates. (Subscription may be required.)

 

 

The Washington Post
Treasury's Fannie and Freddie rip-off

Gigantic government's complexity and opacity provide innumerable opportunities for opportunists to act unconstrained by clear law or effective supervision. Today's example, involving the government's expropriation of hundreds of billions of dollars, features three sets of unsympathetic actors — a grasping federal government, a few hedge funds nimble at exploiting the commingling of government and the private sector, and two anomalous institutions that should never have existed.

 

Forbes
What about Fannie & Freddie?

While the remaining White House hopefuls have discussed the intimate details of many policies and proposals, none have seriously addressed the future of housing finance reform. Given the significant size and scope of Fannie Mae and Freddie Mac , the two Government-sponsored Enterprises (GSEs), and their hyper leveraged, undiversified business models, presidential candidates owe it to the American people to provide detailed plans for housing finance and the role of government in the system.

 

 

American Banker
As Investment Portfolio Dwindles, Fannie Looks Elsewhere for Growth

Going forward, Fannie Mae will be relying more on loan guarantee fee income from its single-family and multifamily businesses.  (Subscription may be required.)

 

 

MULTIFAMILY


Reuters
U.S. regulator raises multifamily lending caps

The regulator of Fannie Mae and Freddie Mac said on Wednesday it raised the limits on the multifamily financing on the two housing agencies to $35 billion from $31 billion, effective immediately.


PRODUCT NEWS


Ply Gem
PVC Shake and Shingle

The style and grace of shake-and-shingle clad homes is part of the American architectural tradition, but the upkeep required to keep these exteriors looking good is more than most homeowners care to take on.


HOUSING POLICY


The Atlantic
Who can go after banks for the foreclosure crisis?

In the wake of the housing crisis, surprisingly few people or institutions have been held accountable for the risky lending practices that nearly wrecked the U.S. economy.  That's partly because the people who were most damaged by the foreclosure crisis—the people who lost their homes—don't have the resources to bring lawsuits.

 


IMPACT FEES


The Wall Street Journal
How City Hall exacerbates the entry-level housing squeeze

The housing market has recovered, but sluggish entry-level construction is putting a squeeze on families that would like to buy their first home. A new report pins the blame on City Hall.