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Housing discrimination lawsuit against Bank of America gets green light
7/19/2019 3:16 PM
A federal judge in Maryland denied a motion Thursday to dismiss a lawsuit brought against Bank of America and Safeguard Properties Management by the National Fair Housing Alliance, 19 fair housing organizations and two homeowners for alleged fair housing violations. According to the judge, the facts presented allow for a “reasonable inference that ...Read More
 
Oregon close to becoming first U.S. state to ban single-family-only zoning
7/19/2019 2:38 PM
Earlier this month, Oregon’s legislature passed House Bill 2001, a measure that will require cities of more than 10,000 people to permit duplexes in areas currently zoned for single-family usage. The bill, which received bipartisan support, is set to go before Gov. Kate Brown, D-OR, who is expected to sign it, therefore positioning Oregon as the fi...Read More
 
Chris Heller leaves loanDepot and mellohome for AI real estate company OJO Labs
7/19/2019 2:32 PM
Chris Heller shocked the housing world last year when he stepped down as CEO of Keller Williams to become the CEO of mellohome, loanDepot’s attempt to serve as a true one-stop-shop for “buying, financing, and improving homes.” But now, less than 18 months later, Heller is leaving mellohome and loanDepot behind for OJO Labs, a real estate technology...Read More
 
Stagnant wages, vacant homes are undercutting housing markets, U.S. mayors say
7/19/2019 1:29 PM
The two biggest villains undercutting housing markets in American cities are stagnant wages and vacant properties, according to a report this week from a coalition of U.S. mayors. “In fast-growing cities, wages lag behind housing costs, leading to a scarcity of affordable housing,” the report from the National League of Cities Housing Task Force st...Read More
 
First American: Growth in potential existing-home sales dampened by lack of inventory
7/19/2019 12:48 PM
In June, potential existing-home sales increased slightly from the previous month, keeping the market’s potential below its 2018 rate, according to First American’s Potential Home Sales Model. First American Chief Economist Mark Fleming said while increasing house-buying power improved housing affordability and boosted the incentive to sell, a lack...Read More
 
Renovation spending will slow in 2020 after record-setting year, Harvard report says
7/18/2019 4:51 PM
While renovation spending rose to a record at the end of June and will reach a new high by the end of 2019, a slowdown is on the horizon. Americans spent $322 billion on remodeling and home repairs during the 12 months ending in June, a 6.8% jump from a year earlier, according to Harvard University’s Joint Center for Housing Studies. However, 2020 ...Read More
 
Fewer Millennials are seeking mortgage help from parents
7/18/2019 2:50 PM
Millennial homebuyers are less likely to take extraordinary measures to be able to afford their mortgage payments in 2019, according to a study from Redfin, which says that more Millennials are leaving roommates and renting in the past...Read More
 
Foreign buyers flee the U.S. housing market, led by Chinese and British
7/18/2019 1:15 PM
China’s currency controls, as well as international tensions between the U.S. and a slew of countries traditionally thought of as our allies, are putting a crimp on America’s real estate market by thwarting demand from foreign homebuyers. Purchases by Chinese people, the biggest share of foreign purchasers, plummeted 56% in the 12 months ended in M...Read More
 
Mortgage Tech Rundown: Anow, LoanScorecard and FormFree
7/18/2019 11:28 AM
This week"s mortgage tech rundown highlights the latest news in mortgage technology, featuring product updates, integrations and announcements...Read More
 
U.S. homeowners have never stayed put for this long
7/18/2019 10:45 AM
American homeowners are staying put longer than ever before, with the average tenure reaching a record high of 8.09 years in the second quarter of 2019. This stands in stark contrast to the years leading up to the recession, as tenure from 2001-2007 averaged just 4.21 years. Here"s why homeowners may be holding off on a move, and what it might mean...Read More




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Retirement contribution limits will rise in 2019
11/1/2018 3:50 PM
Good news retirement savers: The Internal Revenue Service announced cost of living increases to the contribution limits for retirement-related plans in 2019....Read More



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