Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Mortgage Tech Virtual Demo Day

Tune in to our live Virtual Demo Day on December 1st at 10am CT to experience demos from the most innovative tech companies in the Servicing, Audit and Post-Close space.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

InvestmentsPolitics & MoneyReal Estate

GDP rises 2.1% in second quarter, boosted by consumer spending

Current-dollar GDP rises to 4.6% in Q2's advanced estimate

Real GDP increased at an annual rate of 2.1% in the second quarter, compared with a gain of 3.1% in the first quarter, according to the advanced estimate from the Bureau of Economic Analysis.

Today’s second-quarter advance estimate is based on incomplete source data subject to further revision and will be followed by a second estimate, due to be released in August.

The chart below shows that GDP fell one percentage point from the first quarter and sits nearly two percentage points below the second quarter of 2018.

 (Source: BEA)

GDP - July

The increase in real GDP in the second quarter reflected positive contributions from federal government spending, personal consumption expenditures and state and local government spending.  

These were partly offset by negative contributions from exports, private inventory investment, nonresidential fixed investment and residential fixed investment. Notably, imports increased in percentage.

Current-dollar GDP increased 4.6%, or $239.1 billion, in the second quarter to a level of $21.34 trillion. This is up from the first quarter’s 3.9%, or $201.0 billion.

The gross domestic price purchase index increased 2.2% in the second quarter, up from an increase of 0.8% in the first quarter. Additionally, personal consumption expenditures increased 2.3%, up from 0.4% last quarter.

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3d rendering of a row of luxury townhouses along a street

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