Almost 10% of all government sponsored mortgages entered forbearance which accounts for almost 841 billion dollars in loans. 4 in 5 workers say they live paycheck to paycheck, with around 30 million people unemployed, the numbers could be daunting. Yet…
Pfizer announced that their Covid vaccine in trials was 90% effective at preventing infection. The stock market took off and traders began reshuffling their pandemic bets with Zoom down 20% and Disney, hotels, and cruise operators up substantially. Will there…
We are seeing interesting economic times; throughout the economy there is huge consolidation within industries as the big get even bigger. Real estate is following a similar trajectory to big technology companies. What is causing the huge changes in real…
There is a new legislative proposal to radically alter the appraisal industry. Should the use of comparables be arbitrary when establishing appraised value? Do appraisers need to better “appreciate” a neighborhood (what does this even mean?) Should an appraiser use…
FHA has placed a moratorium on foreclosures from mortgage loan defaults and offered any borrower that requests it an extension to not make payments for a year (HUD). This effectively kicks the can down the road and pushed out any…
If you have been tracking interest rates in the mortgage market, your head is likely spinning. Mortgage rates hit a record low of 3% less than a week later rates have risen again. What is causing the drastic swings? Is…
The Coronavirus has created a unique financial situation. Unemployment rates are at record highs, with companies announcing long term downsizing. At the same time residential real estate is hitting new records and continues to increase in the face of the…
Do you know where the next mortgage defaults will occur in your city? What cities and zip codes are most at risk during this recession? In every recession, there are two predictors of default/loss, collateral and equity. What does…
Presidential nominee Biden has rolled out his proposed tax plan with two major pillars that will impact real estate pros. 1) Elimination of the 1031 exchange provision 2) elimination of long term capital gains. These two changes, if passed, will…
From March 1 through the end of May, Americans deferred debt payments on more than 100 million accounts, according to credit-reporting firm TransUnion, a sign of widespread financial distress. Millions are out of work, yet house prices are increasing in…
