ECONOMIC NEWS

Reuters
U.S. housing demand seen holding up despite rising rates

Fears that higher home mortgage rates this year will keep buyers away and hit home sales could be overblown.

Chicago Tribune
Why millennials are finally starting to settle down and buy homes

Millennials are finally starting to show interest in homeownership.

Construction Dive
Home-improvement pros wary of labor market, optimistic about demand

Eight in 10 home-improvement professionals expect to see revenues grow in the next year, while more than half (55.8%) reported an increase in per-project revenue last year, according to a new index from HomeAdvisor and the Farnsworth Group.

The Washington Post
As equity rises, many homeowners use refinancings to free up cash

They're either a valuable financial tool for homeowners or a harbinger of trouble on the horizon: Cash-out refinancings, which were wildly popular during the housing boom years and which contributed to the severity of the crash, are on the rise again.

MarketWatch
Want to see how America is changing? Property taxes hold the answer

Americans paid nearly $300 billion in property taxes in 2016 - but as with everything in real estate, it's all about location. Yet those taxes don't just tell a story about local and regional housing markets - they also show how the country is changing.

Construction Dive

Builders continue to put larger homes on smaller lots

Larger homes are going up on smaller lots, analysis by CoreLogic found. For new homes, the median square footage has risen from 1,938 square feet in 1990 to roughly 2,300 square feet post-2013, dipping somewhat in from 2007 to 2009. Meanwhile, median lot size for new homes shrank from 8,250 square feet in 1990 to 6,970 square feet in 2016.

MarketWatch
Mortgage rates tumble to fresh 2017 low

Rates for home loans fell in line with Treasury yields, nudging mortgage rates to the lowest level of the year, Freddie Mac said Thursday.

Construction Dive
Market volatility takes the wind out of vacation-home sales

Vacation-home sales declined for the second-straight year in 2016, dropping 21.6% from 2015 to 721,000 last year, following the most recent peak of 1.3 million in 2014, according to the National Association of Realtors' Investment and Vacation Home Buyers Survey, which tracks new and existing properties.

MarketWatch
Here's where an entire year's salary won't get you a down payment

When it comes to barriers to entry to the housing market, the down payment can feel more like a pole vault for many Americans, especially those stuck paying ever-pricier rent payments every month.

The Wall Street Journal
Teachers, police priced out of America's big metro areas

Rising home prices are putting America's largest metropolitan areas out of reach for teachers, police officers and other big slices of the U.S. workforce. (Subscription may be required.)

MarketWatch
Why most renters don't want to buy homes right now

The spring home-buying market is shaping up to be one of the most competitive in recent memory, and is even worse for first-time homebuyers, i.e. Millennials.

DODD-FRANK

American Banker
Congress playing chicken with Dodd-Frank reform

A Senate Republican effort to use an obscure legislative process to restructure the Consumer Financial Protection Bureau could derail any bipartisan agreement on targeted changes to the Dodd-Frank Act. (Subscription may be required.) 

HousingWire
Trump floats complete repeal of Dodd-Frank

Last week, President Donald Trump told a group of CEOs that his administration is planning a "very major haircut" on the Dodd-Frank Wall Street Reform Act.
 

HOUSING FINANCE

HousingWire
Jamie Dimon says fixing mortgage industry would boost lending by $300 billion a year

J.P. Morgan Chase on Thursday reported earnings and revenue that beat expectations, with trading and investment banking revenues contributing the most during the quarter.
 

MORTGAGE INTEREST DEDUCTION

HousingWire
Community lenders stress possible negative impact on mortgage interest deduction in tax reform

As the Trump administrations works on hashing out comprehensive tax reform, the Community Home Lenders Association penned a letter to address its serious concerns about the future of the mortgage interest deduction, along with the potential negative impact to it.
 

ECONOMIC NEWS

The Wall Street Journal
Buying a home this spring will be hardest in years
Robin Manthie and her husband have been looking for their first home in Minneapolis since May. They thought this spring would bring a flood of inventory, making their search easier. But by most measures it is getting tougher. (Subscription may be required.)

MarketWatch
Why lower house prices lead to higher student loan default rates
Add this to the list of potential consequences of the housing bust: Rising student loan defaults.

CNBC
Homeowners are pulling cash out again; this time it’s the millennials
Fast-rising home prices gave homeowners more equity than many expected, and they are now tapping that equity at the fastest rate in eight years.

MarketWatch
Americans are taking out the largest mortgages on record
For the past few years, the housing market has been unbalanced. Strong demand and lean supply keep pushing prices higher and higher.

The Wall Street Journal
Want that apartment? You may have to bid for it
If you think the rent is too damn high, there are a couple of startups that want you to prove it, by forcing you to bid for a place to live. You may find out you're right. Or you may discover you aren't offering enough. (Subscription may be required.)

Realtor Magazine
New homes have gotten pricier
Over the last 10 years, the price distribution of new homes has changed significantly, as new homes have grown more expensive. Builders blame a weakness among first-time buyers and rising regulatory burdens as the reason for the shift in focus in the pricier tiers of the new-home sector following the Great Recession.

MarketWatch
Mortgage rates fall for the third straight week, approach 2017’s low
Rates for home loans notched their third weekly decline, nearing a fresh low for 2017, mortgage finance provider Freddie Mac said Thursday.

HousingWire
TransUnion: Here’s why Millennials are delaying homeownership
The spring home-buying market is shaping up to be one of the most competitive in recent memory, and is even worse for first-time homebuyers, i.e. Millennials.

HUD

The Washington Post
Carson assures advocates that White House will include housing funding in infrastructure bill
HUD Secretary Ben Carson said Monday that the Trump administration will seek to include housing funding in a yet-to-be unveiled infrastructure spending bill.

The New York Times
In Ohio county that backed Trump, word of housing cuts stirs fear
For years, Tammy and Joseph Pavlic tried to ignore the cracked ceiling in their living room, the growing hole next to their shower and the deteriorating roof they feared might one day give out. Mr. Pavlic worked for decades installing and repairing air-conditioning and heating units, but three years ago, with multiple sclerosis advancing, he had to leave his job.

DODD-FRANK

HousingWire
Trump: We're going to do a very major haircut on Dodd-Frank
In the words of President Donald Trump, the era of “horrible regulations” is coming to an end. On Tuesday, during a gathering of some of the CEOs of the country’s largest companies hosted by the White House, Trump told the crowd that his administration is working hard to “destroy” many of the regulations holding back the private sector and plans to continue doing so.

The Wall Street Journal
Dodd-Frank overhaul vote unlikely before summer, law maker says

The House won't vote until this summer at the earliest on changes to the 2010 Dodd-Frank financial-overhaul law, a senior Republican said Monday, demonstrating how the path for regulatory relief remains in flux as lawmakers grapple with health-care policy, a tax overhaul and other issues. (Subscription may be required.)

TAX REFORM

The Washington Post
Popular deductions for homeownership are targeted in tax plans
With the health-care bill back-burnered on Capitol Hill, the focus has shifted to tax reform. Among the key financial matters in play: Homeowners’ prized deductions for mortgage interest and property taxes.

HOUSING FINANCE

The Wall Street Journal
Green-energy PACE home loans catch Congress's ire
Momentum is building in the U.S. Senate to rein in a popular government-supported loan program used to finance energy-saving home improvements. (Subscription may be required.)

SOFTWOOD LUMBER

Construction Dive
Fate of US–Canada Softwood Lumber Agreement still in limbo
Amid the uncertainty about the renewal of U.S.-Canada Softwood Lumber Agreement comes word from British Columbia’s softwood trade envoy that there is a chance a new deal could be reached quickly – by summer or fall – but if that doesn’t happen, the talks could stretch into next year, News 1130 reported.

MULTIFAMILY

The Wall Street Journal
Farm-to-condo movement stakes its claim to Brooklyn rooftop
It was only a matter of time before the farm-to-table movement merged with the Brooklyn condominium boom. (Subscription may be required.)