Daily Dose

“Over the past year, the HPSI has plateaued at a low level, evidence of persistent consumer pessimism regarding the state of the housing market,” said Doug Duncan, Fannie Mae SVP and Chief Economist.

Firm will rebrand as Incenter Capital Advisors, to be led by Tom Piercy in the role of Chief Growth Officer and JB Long, who steps into the new position of President.

While seasonal price trends typically place downward pressure on rents throughout the fall and winter, it may be no surprise that rents dropped in November, according to a new Rent. report. Asking rents have declined year-over-year in three of the last four months.

In its Annual Financial Report, Ginnie Mae highlights its financial performance and accomplishments over the past year, as it supported affordable, equitable homeownership and rental housing for tens of millions of American households.

The least affordable markets were Anaheim and San Francisco, where homebuyers with the typical local income would’ve needed to spend over 80% of their pay on monthly housing costs. Detroit and Pittsburgh were the most affordable.

While the most vulnerable, at-risk counties are currently bunched in Chicago and New York City metros and parts of California, a new ATTOM report revealed which markets are facing the greatest risk of market downturns in the coming year.

The least affordable markets included Anaheim and San Francisco, where homebuyers with the typical local income would’ve needed to spend over 80% of their pay on monthly housing costs.

Attorney Ian Dolan examines a recent Florida case where the court affirmed the entry of a judgment of foreclosure despite the mortgagor’s claim that a reformation was barred by the statute of limitations. Full details on the case after the link.

“The Fed’s aggressive rate-hike campaign has worsened the generational homeownership divide,” said Sam Bourgi, Senior Analyst at CreditNews. “While more than 40% of all U.S. mortgages were obtained in 2020 or 2021, that’s been harder to get with mortgage rates at 22-year highs."

According to First American Economist Ksenia Potapov, homeownership—and the equity that comes with it—is one of the most effective ways to build wealth.