HUD is beginning to force integration by forcing the lenders to only lend in ways which will put minorities in non-minority areas.
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Trulia (TRLA) Chief Economist Jed Kolko noted that, despite a slow quarter for construction activity, residential construction employment continues to outpace employment overall. Year-over-year, residential construction is up 4.5% — ahead of overall national employment growth of 1.7% — an indicator that housing is putting more jobs on the market.
(Lindsey)Piegza added that it will likely be 5-6 years before those recent college grads are buying a house. "It's really important to recognize that the game has changed now," she said. Piegza believes that in the short term, this will add pressure on the housing market. However, she noted that in the long run, it will allow for a much more sustainable housing sector because we are putting people who can afford homes into homes instead of those who would be struggling to make payments. -- Megan Hopkins at HousingWire
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The Consumer Financial Protection Bureau has sued a Salt Lake City-based mortgage lender for allegedly violating the loan officer compensation rule by paying bonuses to LOs that charge consumers higher interest rates. -- Brian Collins in Origination News
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An Indian man carries a swarm of colourful plastic balls on his bicycle in the northern Indian city of Lucknow in February 2006. (Pawan Kumar/Reuters) -- Shared by Guy Kawasaki
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Nat'l Real Estate Post:
Cities and counties are using eminent domain to take homes where the owners are in default on their mortgage payments. The municipalities are confiscating the homes, paying them off and sometimes allowing the owners to stay in the homes. However, most of the time the municipalities are razing the homes. Eminent domain was set up to allow cities and counties to take property in order put in roads or utilities, something that would benefit the community. Now it is being used when home owners simply default on loans.
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Coach Wooden says, "Self control is the ability to discipline ourselves and keep our emotions under control. To become our best, good judgement and common sense are essential." Shared by Rick Floyd
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Chris Harper originally shared and was repeated by James Harrison.
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More than 100 real estate and economic experts predict home values will end 2013 up 6.7 percent from the end of 2012, as the housing market recovery continues to widen and accelerate, according to the latest Zillow Home Price Expectations Survey. A majority of the panel also said that while rising mortgage rates don’t pose a threat if they stay within the 4 to 5 percent range, they could derail the recovery if they reach 6 percent or higher.
For full survey results and graphics, please visit Zillow Real Estate Research or www.pulsenomics.com.
-- Corey Hopkins in HousingWire
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Atlanta home prices were up 19.2 percent in the first quarter, compared with the first quarter of 2012.
The index also projects Atlanta home prices will be up 4.9 percent in the first quarter of 2014, when compared with the first quarter of 2013. -- Sonja Bullard in Angel Oak Weekly
“I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well. ”
–Alan Greenspan
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The median existing single-family home priced rose in 87% of measured markets, as 142 out of 163 metropolitan statistical areas posted gains based on closings in the second quarter versus the second quarter of 2012.
Total existing-home sales were at the highest pace since the second quarter of 2007, when they hit 5.23 million.
“There continue to be more buyers than sellers, and that is placing pressure on home prices, with multiple bids common in some areas of the country,” he said. “Higher interest rates are now causing sales to level out, but the tight supply conditions look to be with us for the balance of the year in most of the country. Areas with tighter supplies generally are seeing the strongest price growth, including markets such as Sacramento, Atlanta, Las Vegas, Naples, San Francisco and Los Angeles.” Lawrence Yun -- Megan Hopkins in HousingWire
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