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.

Politics & Money

HEROES vs HEALS Act and what they would mean for housing

Wide variance on the funding for rent and mortgage assistance

The HEROES Act, a bill introduced and passed by House Speaker Nancy Pelosi (D-CA) in May, could be signed this week, offering homeowners and renters much-needed relief in light of the COVID-19 pandemic.

On the other hand is the Health, Economic Assistance, Liability Protection and Schools Act, aka HEALS Act, proposed by Sen. Mitch McConnell (R-KY) on Monday, which offers significantly less help for homeowners and renters.

The HEROES Act contains $200 billion of additional funding to consumers, including assistance making mortgage and rent payments.

Meanwhile, the HEALS Act doesn’t include an extension of eviction moratoriums and offers $3.2 billion for housing, which includes $2.2 billion for tenant-based rental assistance and $1 billion for a public housing operating fund.

However, both acts offer another round of one-time $1,200 stimulus checks to individuals who qualify, which has drawn criticism for being too limited.

Unlike the HEROES Act, which proposes to keep the additional $600 in unemployment payments as the CARES Act did, the HEALS Act proposes to cut down that down to $200 extra a week.

A portion of the HEALS Act will funnel about $20 billion into the Federal Department of Agriculture; about $5 billion to “science,” which includes $1.75 billion going towards the construction of a Federal Bureau of Investigation headquarters in Washington, D.C.; $29.4 billion to defense and the armed forces; $105.1 billion to education, in an effort to get students back in classrooms; and no funding for Veterans Affairs.

Housing advocates have warned that if eviction moratoriums and unemployment payments are both cut, the U.S. could see waves of evictions and a large uptick in homeless populations.

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