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?

Back to the Future of Mortgage Lending

This webinar will be a discussion on understanding what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

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.

CoronavirusPolitics & Money

Jobless claims totaled 6.6 million last week

Approximately one in 10 workers lost their jobs in the past three weeks.

The number of Americans submitting unemployment claims totaled 6.61 million for the week ending April 4, the second-highest on record, compared with an upwardly revised all-time high of 6.87 million in the previous week, the Department of Labor said on Thursday.

That brings the total number of people filing for unemployment benefits to about 16.8 million during the coronavirus pandemic’s economic shutdown. The wave of claims includes workers previously excluded from filing such as freelancers, self-employed contractors and gig workers.

About 1 in 10 people lost their jobs in the past three weeks, according to the Associated Press.

California reported the most initial claims last week, with an unadjusted rate of 925,000 filings. In the previous week, the state reported more than 1 million. Wyoming had the lowest number of unemployment claims among the states with 4,900, down from nearly 6,400 in the previous week.

“This is incredibly unfortunate to see these numbers,” said Anthony Casa, chairman of the Association of Independent Mortgage Experts. “Even if you look at things optimistically and say that 90% of these jobs will come back when we get through this health crisis, this means 1.6 to 1.7 million people will have lost these jobs as a result of these three weeks.”

More than 95% of the U.S. population has been ordered to stay at home by governors seeking to stem the spread of COVID-19. The state orders exempt people who work at jobs deemed essential, such as nurses, doctors, and police officers.

While some people have been able to switch to working from home, many others with jobs that can’t be done remotely, like store clerks or restaurant workers, have been forced to file for unemployment benefits.

“This is not something we’re going to get over quickly,” Casa said. “The country is going to be dealing with the fallout from this for quite some time.”

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