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

Housing Wire

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. The White House estimates that this “will raise an additional $3.79

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All the ways the wildfires could make LA housing more expensive

Housing Wire

The home insurance crisis has entered a new phase Climate change has forced home insurance companies to retreat from areas that are increasingly prone to natural disasters, and California is chief among them because of the risk of wildfires. This will force homeowners to either pay more monthly or go without insurance.

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Knox Financial announces $10 million in Series A funding

Housing Wire

Knox automates and oversees a property’s finances and taxes, insurance, leasing and legal, tenant and property care, banking, and bill pay. “Its full-service, tech-enabled platform has clearly resonated with first-time investment property owners and career landlords alike,” Hower said. Knox has shown people across the U.S.

Landlords 397
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Shelter costs rose again in August, but there’s an asterisk

Housing Wire

Indexes that increased in August include rent, owners’ equivalent rent, motor vehicle insurance, medical care, and personal care. Additionally, apartment construction is strong , which puts an additional pressure on landlords to avoid vacancy. Core inflation, which excludes food and energy, rose 4.3% a year earlier.

Landlords 418
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Single-family rental market slammed by headwinds

Housing Wire

That, in turn, could lead to improved liquidity outlets for loans secured by single-family investment properties — through the private-label securitization (PLS) market and via insurers, pension funds and other institutional investors that hold loans or mortgage-backed securities in portfolio. . Only 10 of those deals, worth about $3.3

Marketing 448
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Investors bought one in six homes sold in Q2 2024: Redfin

Housing Wire

But multifamily construction starts have slowed , which is good news for landlords looking to increase rents. Although demand for rentals remains strong, rent prices have shown slow growth due to a bevy of new apartments hitting the market, creating competition for tenants.

Investors 468
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Market conditions no longer favor large SFR players

Housing Wire

That, in turn, could flatten out rent increases and put greater financial pressures on [SFR] landlords.” Hunsaker added that the headwinds facing the institutional SFR market also include rising home insurance and taxes due to the recent hurricanes that have battered Florida, a key market for the SFR sector.

Marketing 448