It now seems all but certain that 2014 will end without any further progress on comprehensive mortgage finance legislation.
But the coming months will offer little comfort for those who rooted for such a stalemate in hope of avoiding hard decisions about fundamental parts of the current system.
Before Mel Watt could even get his name plate on the door as head of the Federal Housing Finance Agency, top federal regulators are already urging him to end contributions to the National Housing Trust Fund and the Capital Magnet Fund.
Some of our 2016 award winners have worked their way up in traditional mortgage companies, while others started their own businesses. They have made their mark in marketing, technology, economics, compliance, asset management, operations and business development.
According to Harvard University’s Joint Center for Housing Studies, the supply gap in 2015 was 400,000 units. Of course, that leads to price inflation on rental rates for existing units as well as driving developers to build. But today’s construction isn’t necessarily providing for all of tomorrow’s renters.
The solutions that offer so much promise also open up the possibility of 24/7 availability. The mission of many in our industry is satisfying consumer demand, and understandably so. But we should be careful. Sometimes consumers are ridiculous and unreasonable. Sometimes meeting their demands comes at too high a price.