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Fed Rate Cut Good for Housing

Filed in Economics, Housing Finance by on July 31, 2019 0 Comments
Fed Rate Cut Good for Housing

In a policy change widely expected and good for housing and home building, the Federal Reserve today reduced its key, short-term federal funds rate by 25 basis points to a top rate of 2.25%. The housing sector continues to face affordability headwinds, and today’s action by the Fed will help by reducing borrowing costs.

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Housing’s Share of GDP Declines on Affordability Factors

Filed in Economics by on July 31, 2019 0 Comments
Housing’s Share of GDP Declines on Affordability Factors

An analysis in a recent Eye on Housing blog post by NAHB Chief Economist Robert Dietz reveals that ongoing housing affordability concerns marked by a lack of supply are having a negative impact on the economy.

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New Rules to Raise Investment Amounts for EB-5 Investors

New Rules to Raise Investment Amounts for EB-5 Investors

The Department of Homeland Security has published new rules to the EB-5 Immigrant Investor program that will increase the amount of money for foreign-born investors seeking to take part in the program.

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HUD Suspends Downpayment Assistance Rule Change

Filed in Housing Finance by on July 25, 2019 0 Comments
HUD Suspends Downpayment Assistance Rule Change

HUD issued a notice to lenders on July 23 announcing it is suspending a previously announced rule change that would restrict the operation of downpayment assistance programs beyond state borders.

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Minority Homeownership Rate Drops in 1st Quarter of 2019

Filed in Economics, Homeownership, Housing Trends by on July 25, 2019 0 Comments
Minority Homeownership Rate Drops in 1st Quarter of 2019

In the first quarter of 2019 the U.S. homeownership rate stood at 64.2%, unchanged from its level during the same time last year, but slightly down from the fourth quarter of 2018 (64.8%), according to the latest data from the U.S. Census Bureau.

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Property Tax Bills by Congressional Districts Vary Up to $11K

Filed in Capitol Hill, Economics by on July 23, 2019 1 Comment
Property Tax Bills by Congressional Districts Vary Up to $11K

A new study released by NAHB reveals a nearly $11,000 difference in average property tax bills among the country’s most and least expensive congressional districts.

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Rural Housing Service Publishes Final Rule to Encourage Single-Close Loans

Filed in Housing Finance by on July 22, 2019 0 Comments
Rural Housing Service Publishes Final Rule to Encourage Single-Close Loans

A final rule by the Rural Housing Service (RHS) published July 22 in the Federal Register will provide increased flexibility for the agency to facilitate and encourage single-close construction loans, which will stimulate new construction, rehabilitation and homeownership in rural areas.

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New FEMA Risk Rating 2.0 to Determine Flood Insurance Rates

Filed in Codes and Regulations, Environmental by on July 18, 2019 0 Comments
New FEMA Risk Rating 2.0 to Determine Flood Insurance Rates

The Federal Emergency Management Agency (FEMA), which oversees and implements the National Flood Insurance Program (NFIP), has initiated a long-term effort to transform the program to make it more consumer friendly and better reflect the actual risks properties face.

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NAHB Opposes Portman-Shaheen Energy Bill

Filed in Capitol Hill, Codes and Regulations by on July 17, 2019 3 Comments
NAHB Opposes Portman-Shaheen Energy Bill

Sens. Rob Portman (R-Ohio) and Jeanne Shaheen (D-N.H.) today introduced the Energy Savings and Industrial Competitiveness Act, legislation opposed by NAHB because it would mandate overly costly and aggressive energy efficiency requirements in model building energy codes, which harms housing affordability.

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Fed Chair: Home Builders Feel Like They’ve Been Hit by a ‘Perfect Storm’

Filed in Affordability, Capitol Hill by on July 11, 2019 17 Comments
Fed Chair: Home Builders Feel Like They’ve Been Hit by a ‘Perfect Storm’

Federal Reserve Chairman Jerome M. Powell told the Senate Banking Committee today that the nation’s home builders are facing several supply-side challenges that are hindering housing affordability and “feel almost like they have been hit with a perfect storm here.”

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