News

Here's one big roundup of reactions to Ben Carson, HUD secretary

Opinions vary greatly. Big surprise, right?
Last week, as we all waited for Ben Carson to accept Donald Trump’s initiation to run the Department of Housing and Urban Development, reactions poured in from all sides about whether HUD Secretary Ben Carson is a good idea or not. Well, now that’s officially official, reactions are no longer based on hypotheticals about Carson as a potential choice. Here’s a recap.
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Corelogic: Home prices continue upward climb in October

Texas, Florida, California leading upward trend
Home prices increased once again in October from last year and last month, and forecasts show that trend won’t be stopping anytime soon. The housing market is already well into pre-recession levels, and some areas could hit their pre-recession peaks next year.
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The pessimist's guide to 2017 is here and it's time for everyone to panic

How bad can things really get?
[Color commentary] Yesterday, I got an email from a source who asked: “If I told you at the beginning of the year you’d be writing about Pokemon and Ben Carson leading HUD, what institution would you commit me too?” Like all other semi-casual observers of market trends, I did not reply and instead, like all fellow pessimists, I chose to panic. Good news is, we're not alone.
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Next HUD leader Ben Carson lists Florida home for $1.2M

Purchased home three years ago
Ben Carson just officially announced that he accepted the role of HUD Secretary and is already making moves in his own personal housing situation. The former neurosurgeon reportedly listed his home in West Palm Beach, Florida, and if he sells his home at that amount, he would turn quite a nice profit.
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Hensarling, Waters chosen to lead House Financial Services Committee again

Representatives from Texas and California to serve as committee leadership
The halls and chambers of Congress are certainly going to look different when the 115th Congress begins its term in January. The leadership of the House Financial Services Committee, on the other hand, will look just the same as it has in the last two Congressional terms, as Rep. Jeb Hensarling, R-Texas, and Rep. Maxine Waters, D-Calif., will again serve as the committee’s leaders.
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Here's the real impact of the post-Trump interest rate spike

Far fewer borrowers with incentive to refinance; homes are less affordable
While still low by historic standards, interest rates are roughly 50-basis points higher now than they were before Donald Trump won the election, and a new report from Black Knight Financial Services shows the real impact of that increase on borrowers and potential borrowers. The bottom line, according to Black Knight’s report, is that housing is less affordable right now than it was before the election.
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