Source: American Banker — Two new Bank of America lending programs seek to promote homeownership among minority borrowers as well as incentivize economic development in disadvantaged communities. One is a pilot program that would offer mortgages to Black and...
Source: Business Insider — The red-hot housing market has fizzled out — and that means home prices are finally cooling down. Over the past few years, intense buyer competition has elevated home prices throughout the US but as affordability wanes, demand is...
Source: Financial Times — Inflation isn’t new, but price rises can still shock. I recently holidayed in the Hamptons, a tony beach area outside New York, where I was stunned to pay $800 for a single shopping cart of groceries. This wasn’t at some foodie...
Source: New York Post — The US housing market is in the midst of a significant pullback, with cooling conditions that have contributed to a spike in home sale cancellation rates, according to the top boss at real estate firm RedFin. RedFin CEO Glenn Kelman...
Source: Forbes — Key Takeaways: A housing market recession occurs when home sales decline for six months straight, which officially happened in July 2022. Two main forces are driving the housing market recession: increasing interest rates and increasing...
Source: Inman — The phrase “housing recession” has exploded in popularity, according to an analysis of search terms. But pinning down what it means and where it originated is surprisingly difficult, experts told Inman. Read...
Hits and Misses for the Real Estate Week of June 22-26
