As prep for hurricane season, Citizens can tap the credit if needed to help pay claims and expenses for its personal-lines account, which includes homeowners’ policies. TALLAHASSEE, Fla. – As the start of hurricane season nears, regulators this week approved lines of credit totaling $1.25 billion for the state-backed Citizens Property Insurance Corp. Florida Insurance … Read more
From Jan. to March, the U.S. economy grew a small 1.3%, though that beat 1.1% expectations. But consumer spending, which makes up about 70% of that, was up 3.8%. WASHINGTON (AP) – The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their … Read more
The Florida CCIM Chapter president says “advanced commercial real estate education is a prime focus for CCIM,” and he’s proud that focus was “recognized by our colleagues.” BOSTON – The Florida CCIM Chapter of The CCIM Institute was recognized for excellence at The CCIM Institute’s Midyear Governance Meetings. CCIM stands for Certified Commercial Investment Member. … Read more
From March to April, asking rents for three-bedroom, single-family rentals rose 2.2% after months of slow price declines. But it may be just a normal seasonal increase. WASHINGTON – First, the bad news: After enjoying an all-too-brief lull in rising rents, single-family home rental (SFR) prices are once again trending upward. But according to Dwellsy … Read more
HOLLYWOOD, Calif. – At the end of 2022, mortgage balances in the United States topped 11 trillion dollars – with almost $1 trillion in interest and refinanced debt added during 2021. As real-life Americans struggle through a housing affordability crisis, it only makes sense that many of our favorite animated characters may no longer afford … Read more
More buyers frustrated with the limited number of existing homes turned to builders for relief in April. Sales growth is notably rising in the $200K-$400K range. WASHINGTON – Sales of newly built, single-family homes increased 4.1% to a 683,000 seasonally adjusted annual rate in April. That’s up from a downwardly revised reading in March, according … Read more
Forget “location, location, location” – it’s “timing, timing, timing.” Spring vs. fall 2022 buyers are now facing very different economic realities. NEW YORK – Recent mortgage rate changes have highlighted the importance of timing in real estate transactions. Rates increased so much and so quickly in 2022 that those who bought homes mere months apart are … Read more
45 economists surveyed predict a still-too-high expected inflation rate of 4.2% for all of 2023 – and they don’t think the Fed will lower interest rates soon. WASHINGTON (AP) – The Federal Reserve will make only modest progress in its fight against inflation for the rest of this year, even while keeping its benchmark interest … Read more
The White House’s “ALL INside” program hopes to help reduce homelessness 25% by 2025, with an initial focus on Calif. and five U.S. cities. WASHINGTON – The Biden-Harris administration announced the launch of ALL INside, a first-of-its-kind initiative to address unsheltered homelessness across the country. It calls ALL INside a key part of All In: … Read more
Risk Rating 2.0 – FEMA’s updated method to price flood policies based on individual homes – has gotten bad press, but it’s a solution for old problems, according to NAR. WASHINGTON – There’s still confusion around the National Flood Insurance Program’s (NFIP) new pricing methodology called Risk Rating 2.0: Equity in Action, which went into … Read more
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