Amid the gloom of the housing market downturn, the green building sector is one bright spot, according to panelists who spoke on green building trends in housing construction at Standard & Poor's housing summit Thursday in New York.
Harvey Bernstein, vice president, industry insights & alliances, McGraw-Hill Construction, noted that in 2010, a third of all commercial real estate construction was green, as was 16% of residential construction. The share of green construction is only likely to go up in the future, he said.
Panelists at a Standard & Poor’s housing summit in New York say the mortgage tax deduction is a key component to the housing industry.
Chuck Robida, Experian chief scientist, said that he expects that it will be difficult for housing markets to recover without the mortgage interest tax deduction, especially in larger MSAs.
While other people expect home prices to bounce along the bottom for a while without going up much, Robert Shiller is inclined to be more pessimistic.
There is room for home prices to decline another 10% to 25% in real terms over the next five years, according to Shiller.
When Tim Mayopoulos was vetted prior to joining Fannie Mae nearly 10 years ago in the role of general counsel, board members explained it would only take 12 to 18 months for the company to turn around. That isn’t what it took. It took putting Mayopoulos in charge, years later, to turn the company around. And that’s exactly what he did.
HousingWire began highlighting the unsung heroes of the mortgage finance industry three years ago, recognizing those who continue to make the dream of homeownership a reality for Americans nationwide. Our editorial board selected each of these 40 professionals for their ability to not only transform their companies, but the industry as a whole.
Hispanics have huge purchasing power in the U.S. and the rate of homeownership among this population has grown every year since 2014, reaching 46.2% in 2017. In fact, Hispanics are the only demographic in the U.S. to increase homeownership rates for each of the past three years and are driving gains in the real estate market overall. By understanding the unique needs and expectations of the Hispanic community and positioning yourself to fulfill those needs, real estate professionals can become an important servicer of this consumer demographic and experience related growth.