Feb 15
Friday marks the first day of the new fiscal year for the federal government, a consequential date for a raft of programs and government funding. With hours to spare Thursday evening, Congress sent President Joe Biden a nine-week government funding extension. The bill continues funding at current levels through Dec. 3 and includes a reauthorization …
Feb 13
Fannie Mae announced new measures in response to growing concerns about aging infrastructure that have followed since the deadly Champlain Towers South condo building collapse in Surfside, Fla. Fannie Mae issued temporary requirements that prevent the purchase of mortgages secured by condo and cooperative units with significant deferred maintenance. The new requirements take effect on Jan. …
Feb 10
A Miami condo collapse in June raised questions about the stability of home and condo foundations. Advise clients to heed these warnings. Key Takeaways: When the 13-story Champlain Towers South building collapsed in the town of Surfside, Fla., earlier this year, municipalities in the area speeded up planned inspections, and owners of other coastal condominiums …
Feb 09
Keep your eye on Elkhart-Goshen, Ind.—it may be the best market in the U.S. for homeowners and investors, according to the latest Wall Street Journal/realtor.com® Emerging Housing Markets Index. The index, which covers 300 of the largest metro areas in the U.S., weighs several housing variables, including the state of the housing market, economic vitality, …
Feb 08
Companies are eager to bring their employees back to the office, but a delay in office equipment could postpone those returns even more. Delays for commercial desktop computers and other equipment are reportedly surging. “We are looking at up to 120 days’ wait for some large enterprises if they have specific components required, and right …
Feb 07
The COVID-19 pandemic has hit many sectors of commercial real estate hard. But the sector is bouncing back. Investors purchased a record amount of commercial real estate in the third quarter, The Wall Street Journal reports. But office buildings and shopping malls aren’t behind the boom, as they typically are. Instead, some of the biggest …
Feb 06
A shortage of skilled construction workers is a major culprit behind weakened housing supply and housing affordability in the new-home market, according to a new report by the Home Builders Institute. “The construction worker shortage has reached crisis level. The construction industry needs more than 61,000 new hires each month if we are to keep …
Feb 03
More businesses are hoping upscale workspaces will lure workers back to the office, hunting for new spaces or looking to upgrade existing ones with amenities and perks such as custom-built lounges, game rooms with ping-pong tables and foosball, outdoor space that includes dining areas with fire pits, upgraded ventilation and sanitation systems, and apps that …
Feb 02
Real estate investors are buying up homes, and first-time buyers increasingly are finding themselves up against them in bidding wars. Investors are drawn to real estate to flip single-family homes, townhomes, and condos for a profit and to build their portfolio of properties to convert them to rental units. The share of investors is at …
Feb 01
A record number of home builders are reporting a shortage of workers such as carpenters, painters, and electricians, the National Association of Home Builders reports. The shortages come at a time when demand is increasing for new homes. Builders are struggling to meet demand and faced with both surging prices for materials and shortages of lots. The …
Jan 31
Single-family housing starts dropped in October as supply chain woes over construction materials and labor shortages continued to hamper the building industry. Single-family housing starts fell nearly 4% last month to a seasonally adjusted annual rate of 1.04 million, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported Wednesday. Still, …
Jan 30
Investors are seeing early benefits to their opportunity zone investments: Median single-family and condo prices are increasing in the majority of nationwide opportunity zones—by 62%, according to a third-quarter report released by ATTOM Data Solutions. Prices increased by at least 20% annually in nearly half of the zones. Opportunity zones, established by Congress in the …
