Congress Passes Housing Bill to Help Vets Post-Disaster
The president is expected to sign the bill. It helps veterans who lost their home during a national disaster by ending a VA loan “repeat purchase fee” to rebuild.
Report: iBuyer Purchases Down Nearly 80% in 3Q
iBuyers purchased just 0.2% of homes sold across 418 U.S. metros in 3Q because, “The hotter the market, the less attractive it is for home sellers” to use an iBuyer.
Bottom Line on Mortgage Changes? More Loans, Higher Risks
An underwriting change for qualified mortgages (QM) eases bank oversight. It should enable more buyers to qualify for a loan as it increases risks in the mortgage market.
Are Americans Really Fleeing Big Cities? Not So Much
In 2019, an average 1.91% city dwellers moved to smaller towns. In 2020, it rose slightly to 2.18% – but in some Fla. metros (Tampa, Orlando), it was less than 1%.
The Open House Is Down but Not Out
Most experts predict a return of open houses in 2021 – but even in a pandemic, the open house could be sellers’ safest option for showing the home to multiple buyers.
Survey: Pandemic Increased Buyers’ Interest in Smart Homes
Americans stuck inside for the last nine months want more from their homes, with 1 in 4 more interested in smart technology than they were before the pandemic started.
City Considers Matching-Grant Program to Cope with Rising Seas
Many Fla. cities are exploring ways to help residents bolster homes against rising tides and heavy rains. In Miami Beach, that could mean paying 50% of the cost.
Fla. Has Greater Authority Over Wetland Development
The U.S. Environmental Protection Agency granted Fla.’s request for greater authority over development of the state’s wetlands. Supporters say it should streamline permitting if property owners want to develop wetlands, but environmentalists oppose the change.
Fed Keeps Rate Near Zero – Sees Brighter 2021 Economy
After meeting on Wed., the Federal Reserve said it expects a healthy economic rebound thanks to the pandemic vaccine, but it still expects to keep rates low until 2023.
Nov. Housing Starts Up 1.2%, Building Permits Up 6.2%
Single-family starts rose only 0.4% in Nov., but NAHB says it’s because builders can’t keep up with demand. Permits, a sign of future activity, rose 6.9% in the South.