Author: Brad Beckett

The DC-based group US Housing Consultants recently released a short analysis of HUD’s recent decision to enforce the Fair Housing Act to prohibit discrimination because of sexual orientation and gender identity.  The stated goal of this organization is to “help to ensure that your properties are always in compliance.”  Indeed… On February 11, 2021, HUD announced in a memo that the HUD FHEO office will administer and fully enforce the Fair Housing Act to prohibit discrimination because of sexual orientation and gender identity.  This memo was issued to implement Executive Order 13988 on “Preventing and Combating Discrimination on the Basis…

According to ATTOM Data’s latest U.S. Foreclosure Market Report, showing there were 9,702 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions).  This figure was down 11% from December, 2020 and 80% from one year ago.  In addition they reported that lenders repossessed 1,428 properties (REOs) in January 2021, down 28% from December and down 86% from last year – marking the 13th consecutive annual decline in completed foreclosures. Across the country, one in every 14,164 housing units had a foreclosure filing in January, 2021.  States with the highest foreclosure rates were: Delaware (one in every 4,923)…

Which counties across the nation have experienced the greatest drop in monthly rent?  That’s what the number-crunchers at Realtor.com recently set out to discover.  Using data from last December, they looked at the median year-over-year prices of one-bedroom apartments, town-homes, condos, and rental homes in America’s 100 largest counties. “Some of the major factors that attract renters to dense downtowns—proximity to work and restaurants and fun things to do—are not currently relevant,” says realtor.com Chief Economist Danielle Hale.  “Without these strong lures, many renters are looking to save money and get some more space by moving to the suburbs.” Click…

The U.S. Department of Housing & Urban Development (HUD) announced in mid-February the extension of the FHA’s foreclosure and eviction moratoriums through June 30th, 2021, as well as an extension of the initial start date of a COVID-19 Forbearance.  See text below. HUD ANNOUNCES EXTENSIONS AND EXPANSIONS OF COVID-19 HOMEOWNER RELIEF AND HOME RETENTION MEASURES Extensions and expansions support the immediate and ongoing needs of homeowners who are experiencing economic impacts related to the COVID-19 pandemic. WASHINGTON – To provide urgent economic relief to homeowners impacted by COVID-19, today (2/16/21) the U.S. Department of Housing and Urban Development (HUD) announced…

The U.S. Department of Housing and Urban Development recently announced that they will interpret the Fair Housing Act to bar discrimination on the basis of sexual orientation and gender identity.  They are directing HUD offices and recipients of HUD funds to enforce the Act accordingly. HUD TO ENFORCE FAIR HOUSING ACT TO PROHIBIT DISCRIMINATION ON THE BASIS OF SEXUAL ORIENTATION AND GENDER IDENTITY HUD directive begins implementation of the policy set forth in Biden executive order to prevent and combat sexual orientation and gender identity-based discrimination WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced that…

Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook By Ingo Winzer February, 2021 The latest job figures suggest very strongly that a real economic recovery won’t take place this year. The recovery of jobs we’ve seen since last April has hit a limit because most people won’t resume normal economic activity until the pandemic is over, so they’re not going to restaurants, stores, gyms or their doctor, even when governments allow them to do so. And the…

The NAHB’s Eye on Housing recently crunched the numbers from the most recent BLS Producer Price Index, where the found that prices paid for goods used in residential construction (excluding energy) rose 0.7% in December and ended 2020 5.4% higher than December, 2019.  Interestingly, they point out that over the course of 2020, building materials prices declined only 2 times.  Indeed… “Prices paid for softwood lumber (seasonally adjusted) rose by double digits (+12.5%) following a 23.9% decline over the prior two months. The softwood lumber PPI remains nearly 15% lower than the record high set in September, but data from…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was 0.3% in January, 2021.  Over the last 12 months, the all items index increased 1.4% before seasonal adjustment. Click here to read the full release at the Bureau of Labor Statistics.

Monday, February 15th is President’s Day across America.  While it does honor all of our presidents, it is actually the official birthday observance of our first president, George Washington – and since Abe Lincoln’s birthday was also in February he, of course, gets to tag along.  Stay safe and have a Happy Friday!!! Hat tip to the Bristol Hearld Courier.

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents were down 0.2% year-over-year in January.  However, overall rents increased in January by $3 to $1,392.  Yardi says bright spots are beginning to emerge. “As we enter 2021, there seems to be a light at the end of the tunnel, as it relates to the economy and housing market. The U.S. is continuing the effort to roll out COVID-19 vaccinations nationwide, the number of workers that filed for unemployment declined for the week ending Jan. 23, and consumer spending held up well in December.” Click here to…