Rental prices are taxing lower-income families, with some Americans spending 30% to 50% of their monthly incomes on housing. And while multifamily properties are currently in construction, the trend of higher prices is far from over.
The talk of whether there is now a new bubble in housing is becoming cocktail-party discussion fodder yet again. But is there actually a bubble? Yale economics professor and co-namesake of perhaps the most popular housing price index (the S&P/Case-Shiller HPI) weighs in on the topic this weekend in an op-ed in The New York Times.
U.S. consumer confidence hit a brick wall in recent weeks as concerns over the potential tapering of the Federal Reserve’s monetary stimulus and recent spikes in mortgage interest rates drew more attention.
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry..
“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.” Read More