What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Real Estate

Renter households will be hardest hit by loss of CARES Act unemployment benefits

The loss of unemployment benefits could affect up to 30 million

Losing $600 a week in unemployment benefits will leave many renters filled with uncertainty when the Federal Pandemic Unemployment Compensation program ends later this week.

Without these benefits, households facing a severe housing burden will jump from about 3% to a whopping 41%, according to Zillow. Housing-burdened is defined as paying more than 30% of household income toward rent, while severely housing burdened is defined as paying more than 50% of household income toward rent.

New Orleans is likely to see the highest jump in housing burden, from its current rate of 4.7% up to an estimated 64%.

According to Zillow, households with high contact-intensity workers are more at-risk. High contact-intensity workers are those who require a high degree of face-to-face and close physical interaction in their jobs, like service and restaurant workers.

Currently, 31% of renter households with high contact-intensity workers are already housing burdened, while 13% are severely housing burdened.

There is also a racial component to this issue, as Black households are more likely than white households to have a majority of household income derived from high contact-intensity work.

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