Today’s News Synopsis:
What is the next digital revolution Real Estate? HUD and the Commerce Department reported a 13.7% increase in housing starts October. In a shocking story, Janet Yellen announced she will be resigning from the Federal Reserve Board of Governors.
In The News:
NAHB – “Housing Starts Up Sharply, Near Post-Recession High in October” (11-20-2017)
“Nationwide housing starts rose 13.7 percent in October to a seasonally adjusted annual rate of 1.29 million units after a slight upward revision to the September reading, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.”
HousingWire – “Yellen announces resignation from Federal Reserve Board of Governors” (11-20-2017)
“Federal Reserve Chair Janet Yellen announced Monday that she plans to resign from the Fed Board of Governors.”
Fannie Mae – “Fannie Mae Re-Enters Low-Income Housing Tax Credit Market” (11-20-2017)
“Fannie Mae (FNMA/OTC) today announced that it will resume low-income housing tax credit (LIHTC) activities to provide a reliable source of capital for affordable rental housing and underserved markets.”
Realtor Magazine – “Tax Reform Hits Homeowners” (11-20-2017)
“Renters will come out ahead, albeit temporarily, if the “Big 6” tax reform framework is passed in its current form. They stand to get about $500 in tax cuts each year.”
Inman – “Las Vegas Realtors to cut off listing feed to realtor.com” (11-20-2017)
“The Greater Las Vegas Association of Realtors will shut off a listing feed to realtor.com next month after negotiations between the trade group and realtor.com operator Move Inc. fell apart, according to a notice sent out to GLVAR’s 14,000-plus members Thursday.”
Mercury News – “Bay Area residents seek the California dream – in Sacramento” (11-20-2017)
“After a decade of renting in San Francisco and a brief stint in Los Angeles, Blue and Perez became part of a great migration to one of the last affordable urban areas in the state. Drawn by lower housing prices, Bay Area residents are pouring into California’s capital and its surrounding areas, trading a temperate climate for triple-digit summers; hustle-and-bustle for a slower pace of life; and redwood hiking trails for expansive fields and distant, snow-capped mountains.”
Realtor.com – “3 Black Friday Rip-Offs You’ll Regret Buying as Soon as You Bring Them Home” (11-20-2017)
“Black Friday is renowned for its spectacular once-a-year deals, and this time around, several big retailers are kicking off their deals early.”
National Association of Realtors – “Blockchain: The Digital Revolution Coming to Real Estate” (11-20-2017)
“Many are banking on blockchain technology to one day transform the business of real estate by moving all aspects of transactions to a digital platform, making them faster, less costly, and more resilient against fraud, a panel of experts said during the 2017 REALTORS® Conference & Expo on Friday.”
Aaron Norris will be speaking at OCREIA’s Note Panel on Thursday, December 14.
For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.