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Biden to call for first-time homebuyer tax credit, construction of 2 million homes

Housing Wire

The White House announced that President Joe Biden will call on lawmakers in the House of Representatives and the Senate to address a series of housing issues in his State of the Union address, which will be delivered to a joint session of Congress and televised nationally on Thursday night. The NHC lauded the development.

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Build-for-rent is a bet on the ‘new normal’ housing market

Housing Wire

One slice of the single-family home market that has gained traction over the past year in a topsy-turvy housing landscape is the build-for-rent sector — or BFR. While the market share of [single-family] BFR homes is small, it has clearly been trending higher,” the NAHB report continues. In addition, JP Morgan Chase & Co.

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HUD announces final rule to protect against flood risk

Housing Wire

Department of Housing and Urban Development (HUD) announced Monday that it published a final rule, the Federal Flood Risk Management Standard (FFRMS), in the Federal Register. HUD estimates that about 10% of new single-family homes financed by the FHA are constructed within the 100-year floodplain each year.

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Builder sentiment posts its first decline since November

Housing Wire

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) sat at 45 in May, down 6 points from April ’s reading of 51, according to data released on Wednesday. This will further increase the cost of construction in a market that sorely needs more inventory for first-time and first-generation buyers.”

Buyers 331
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The state of the housing market for first-time homebuyers and communities of color

Housing Wire

With low housing inventory and rapid home-price growth, homeownership can seem less and less attainable for several groups of potential homebuyers. HousingWire sat down with Radian CEO Rick Thornberry to learn more about the state of the housing market and how Radian is helping further homeownership.

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Housing costs continue to burden American families: NAHB

Housing Wire

The NAHB/Wells Fargo CHI, a quarterly analysis of housing costs at both the national and metropolitan levels, measures the share of income needed to make a typical mortgage payment. This calculation includes median home prices , assuming a 10% down payment, as well as taxes, homeowners insurance and private mortgage insurance.

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1.2 million homes face wildfire risk in California

Housing Wire

Increasing wildfire risk resulting from climate change is a growing problem for insurers and homebuyers in affected areas, particularly California, according to a new report from data provider CoreLogic. CoreLogic said insurers’ models should account for the current risk landscape, including climate change considerations.

Insurance 305