Today’s News Synopsis:
The NAHB reported an increase in builder confidence by 2 points, putting it now at 60. The Real Estate Board of New York released a report showing real estate brokers have less optimism in the market, but this could actually be good for those wanting to buy or rent. The CFPB has now opened it up for people to give their comments and opinions on new TRID rules over the next two months.
In The News:
DNA Info – “City Sets Aside $10M For Loans to ‘Emerging’ Real Estate Developers” (8-15-16)
“Fledgling real estate developers who are long on vision but short on capital can now get a leg up from a new $10 million city fund, the New York City Economic Development Corporation announced.”
Bloomberg – “Barrack Says U.S. Real Estate Market Is Getting ‘Bubblicious'” (8-15-16)
“Real estate investors could be in for a shock if interest rates rise or demand in some markets continues to fall because “amateurs” are plowing money in at high prices, betting on rent increases that may not continue, said Tom Barrack, the billionaire chairman of Colony Capital Inc.”
Business Insider – “8 of the craziest perks we’ve seen in luxury real estate listings” (8-15-16)
“It turns out that convincing billionaires to invest millions in luxury real estate is not the easiest sell. In big cities across the US, glass skyscrapers and sprawling spec homes that broke ground to fanfare just years ago are now standing with empty units left to sell.”
DNA Info – “Real Estate Brokers’ Pain Could Be Your Gain” (8-15-16)
“Amid concerns over the nation’s political future and global instability, the city’s real estate brokers are tempering their optimism about the real estate market, according to a report released Monday from the Real Estate Board of New York — but that might be good news for would-be buyers and renters.”
Housing Wire – “CFPB: TRID comment period now open” (8-15-16)
“The 64-day countdown begins now on the comment period for the proposed updates to the Consumer Financial Protection Bureau’s Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule.”
NAHB – “Builder Confidence Rises Two Points in August” (8-15-16)
“Builder confidence in the market for newly constructed single-family homes in August rose two points to 60 from a downwardly revised reading of 58 in July on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).”
ABC News – “Real Estate Company MAA to Buy Rival Post Properties” (8-15-16)
“Mid-America Apartment Communities Inc. is buying rival real estate investment trust Post Properties in a deal worth about $3.9 billion.”
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with InvestClub for Women on Wednesday, September 21.
Bruce Norris will be presenting Stay Put, Cash Out, Or Change Seats? with InvestClub for Women and Robert Hall & Associates on September 28.
Bruce Norris will be presenting Cashing In On a Boom: Investing in Quadrant 4 at the Back Bay Conference Center on Saturday, October 8.
Bruce Norris of The Norris Group will be presenting the 9th annual I Survived Real Estate 2016 on Friday, October 21.
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