FORT LAUDERDALE, Fla. – After torrential rains hit South Florida, particularly in Broward County, many residents are dealing with flooded cars, boats and homes. And while the storm wasn’t a hurricane, many will be filing insurance claims for their soaked property. Fort Lauderdale was drenched with a record 25.91 inches of rain Wednesday – an … Read more
The Consumer Bankers Assoc. president says social media sparked a panic, but the industry’s two unique bankruptcies had “a very specific demographic of depositors.” NEW YORK (AP) – Lindsey Johnson became president of the Consumer Bankers Association in 2022, representing the trade and lobbying organization for the nation’s big retail banks like Bank of America, … Read more
The 2023 Housing Choice Voucher (HCV) program funding is a 10.5% increase ($2.9B) over last year. It’s HUD’s largest single investment for affordable housing WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced $30.3 billion for the Housing Choice Voucher (HCV) Program for 2023 – a $2.9 billion (10.5%) increase over the … Read more
Study: March asking rents fell 0.4% to $1,937 year-to-year, the lowest level in 13 months. But 4 Fla. cities in the study saw increases ranging from 0.7% to 3.9%. SEATTLE – The median U.S. asking rent fell 0.4% year-over-year to $1,937 in March – the first annual decline since March 2020 and the lowest median … Read more
NEW YORK (AP) – When Nat West, owner of cider-making company Reverend Nat’s Hard Cider, decided to supplement his wholesale business by opening a taproom in a bustling neighborhood in Portland, Oregon, he thought getting financing would be a breeze. After all, he was only seeking $50,000, has been in business for 11 years, and … Read more
The famous stockbroker and billionaire says more banks will likely fail this year, but he’s betting $1M that not a single U.S. investor will lose money. NEW YORK – Renowned global stockbroker and billionaire Warren Buffett said there’s a possibility that more United States’ banks could eventually fail, but quickly added a reassuring note that … Read more
A mission to humanize real estate by using robots (AI) sounds like an oxymoron. But a broker uploaded client data and relies on AI to maintain client relationships. NEW YORK – New York City-based Elegran/Forbes Global Properties has evolved from a real estate brokerage representing overseas buyers into a company “more balanced between buyers and … Read more
The declining mortgage-rate streak continued, though the 30-year, fixed-rate drop from last week’s 6.28% to this week’s 6.27% was relatively small. NEW YORK – The average long-term U.S. mortgage rate inched down for the fifth straight week, positive news for potential homebuyers and a real estate market that’s been chilled by the Federal Reserve’s series … Read more
A weather system stalled and dumped 25-plus inches of rain in S. Fla. Realtor-family members can seek help through Florida Realtors Disaster Relief Fund. FORT LAUDERDALE, Fla. – In Florida, “flood insurance” is often considered a safety buffer against hurricane strikes – but a stalled storm system over Fort Lauderdale shows that flood insurance does … Read more
In Feb., inflation was 6%. Gas and food prices moderated, but services – rents, restaurant meals, haircuts, auto insurance, etc. – continue to rise. WASHINGTON (AP) – U.S. consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled under the weight of surging prices but likely … Read more
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