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A new source of affordable housing inventory: Private seller auctions

Housing Wire

He bought it from an outside landlord who didnt have the local market knowledge or presence needed for property management. All four of the properties are in underserved neighborhoods as defined by the Federal Housing Finance Agency (FHFA). Tony Richards recently purchased four properties in his hometown of Montgomery, Alabama.

Sellers 313
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Nonprofits Leverage ADUs to Tackle Affordable Housing Crisis

Appraisal Buzz

The Asian Americans for Equality (AAFE) community development organization also supports ADU renovations through its Landlord Repair Fund, helping to bring non-compliant ADUs up to code and ensure safety for residents. These apartments provide affordable housing options in high-density areas where space is limited.

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Bain Capital gains majority stake in residential investment lender Archwest Capital

Housing Wire

Global asset manager Bain Capital announced Monday that it has acquired a controlling stake in Archwest Capital , a California -based company that offers financing to residential real estate investors. Archwest provides business-purpose financing for single-family and multifamily homes, as well as mixed-use and commercial properties.

Investing 435
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Biden unveils housing proposal that includes nationwide cap on rent increases

Housing Wire

Biden’s new plan would cap annual rent hikes at 5% for two years for landlords who manage 50 or more rental units, which the administration said would cover 20 million units, or roughly half of all rental units in the country. Exemptions would be provided to new construction and units with “substantial” renovation and rehabilitation.

Landlords 488
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HUD affordability plan doesn’t include lowering FHA premiums

Housing Wire

Senior officials at the Department of Housing and Urban Development , which houses the FHA, said today during a press briefing that it would focus on improving financing for manufactured homes and revamp its renovation financing. Another area of focus for the administration is improving its financing for manufactured housing.

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Renting is less expensive than homeownership in every major US metro

Housing Wire

Deciding whether to rent or buy a home depends on several factors including finances, long-term goals and local market conditions. We’re seeing it in Omaha, Wichita, Toledo, Oklahoma City and dozens of other areas from coast to coast, said Matt Schultz, LendingTree’s chief consumer finance analyst. Census Bureau data.

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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