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Florida’s housing affordability crisis is reaching a breaking point

Housing Wire

In August, the median monthly rent in Miami was $2,944 a 42% jump since 2020. It’s followed by California at 6% double its share in 2020. ” Population growth in Tampa has significantly rebounded with nearly 52,000 new residents in 2022-2023, up from a loss of nearly 13,000 in 2019-2020. . ”

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Demand for distressed homes is dropping. What that means for the housing market

Housing Wire

Weaker demand from the local community developers buying at auction suggests continued weakness in the retail housing market into early 2025 given that those local community developers are anticipating retail market conditions about six months into the future,” Daren Blomquist, vice president of market economics at Auction.com, said in a statement.

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Onity leaders talk reverse channel profitability, tease proprietary product development

Housing Wire

announced that it had developed a new proprietary product called EquityIQ. It launched that summer and was briefly suspended due to COVID-19 market volatility in March 2020, but it was brought back a few months later. While Libertys product is still in development, Messina is enthusiastic about the possibilities.

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Guild appoints its first VP of diverse talent development

Housing Wire

Guild Mortgage announced on Thursday the appointment of Lamont Watson as the company’s first vice president of diverse talent development. Improving talent development processes, including mentorship and career advancement opportunities, will be a key priority to attract and retain diverse talent, the company said.

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Forecasting Foreclosure Volume in 2025

Appraisal Buzz

Demand at distressed property auctionsfor both foreclosure auctions and bank-owned (REO) auctionshas drifted lower to end 2024 as market headwinds such as rising retail inventory and higher-for-longer mortgage rates intensified for the local community developers buying at auction.

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Look out below! New-home sales fall off a cliff

Housing Wire

Department of Housing and Urban Development (HUD) shows new-home sales in October clocking in at a seasonally adjusted annual rate of 610,000 — a 17.3% It’s the slowest rate of sales in the South since April 2020 at the onset of the COVID-19 pandemic. Data released Tuesday by the U.S. Census Bureau and the U.S. decline year over year.

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Mutual of Omaha hires Tracy Milligan for proprietary product rollout

Housing Wire

She went on to serve the next 11 years of her career at One Reverse Mortgage as vice president of operations, before that company a division of then- Quicken Loans , later Rocket Mortgage ceased its reverse mortgage product offerings in early 2020.

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