President Donald Trump called on Fannie Mae and Freddie Mac to boost homebuilders and help “restore the American Dream” in a Truth Social post on Sunday. The president said large homebuilders are sitting on 2 million empty lots, and compared the situation to the Organization of the Petroleum Exporting Countries keeping oil prices high before […]
Trump calls on Fannie Mae, Freddie Mac to boost homebuilders Read More »
President Donald Trump’s decision to impose steep new tariffs on imported wood, furniture and home fixtures is drawing criticism from economists, builders and housing experts who warn the move could further strain an already fragile housing market. New tariffs in these sectors were first announced Sept. 26 by Trump on social media, with further details
New tariffs on wood, furniture raise fears of higher housing costs Read More »
A group of homeowners filed a class action lawsuit against the largest homebuilding company in the United States and its mortgage lending subsidiary over money they lost in an alleged deceptive mortgage scheme. D.R. Horton and DHI Mortgage targeted prospective homebuyers with affordable monthly payment plans, but the company low-balled the true costs and excluded
Homeowners sue D.R. Horton over hidden mortgage costs Read More »
Today’s report on new home sales printed one of the most surprising results I’ve seen in a while, showcasing significant growth. Now, we should have expected some growth in new home sales, given that mortgage rates have declined recently. In fact, each time mortgage rates have approached 6% since late 2022, new home sales have
New home sales shocked, but are these numbers legit? Read More »
Baltimore is embarking on what civic leaders call ‘the nation’s most ambitious housing redevelopment program’ — a 15-year effort that aims to turn around more than 37,000 vacant or at-risk properties and influence market conditions for another 33,000 homes and lots. The strategy is supported by $1.2 billion in public funding commitments and is expected
Baltimore launches $6.2B housing redevelopment effort Read More »
Homebuilders in America are cheering, not because of the disappointing housing permit data released today, but because mortgage rates are near 6%. We have seen four consecutive months of job losses in residential construction labor, as mortgage rates have been elevated and builders’ inventory has been piling up. Housing permits, which have been declining since early 2022,
Disappointing housing permits show why we need 6% mortgage rates Read More »
Recent efforts to cut down on vacant residential properties in Baltimore have proven to be effective, according to new Urban Institute data. By 2020, the city had more than 16,000 vacant buildings and a residential vacancy rate of 7.7%. In parts of east and west Baltimore, the rate was nearly one in three houses. “Vacancy
Baltimore’s push against vacant housing shows positive results Read More »
Tariff-influenced lumber price volatility this year has markets trying to read the tea leaves to determine what the implications might be for housing and the economy at large. Since reaching a three-year high in early August, lumber futures declined by 25% to trade at approximately $525 this week, data from the Chicago Mercantile Exchange showed.
Lumber prices swing as tariff fears roil markets Read More »
Although modular construction has been a long-time construction option, advancements in technology, data and automation are making it more viable at scale, according to recent research from McKinsey & Co., which analyzed more than 700 companies in 50 countries. The data draws on interviews conducted by McKinsey with more than 20 global executives. Its database
Modular construction advancements could help address the housing shortage Read More »
Residential construction spending saw its first monthly increase in six months this summer, as builders navigated their way through housing market and tariff-related challenges. While construction spending rose month over month in June, it still came in well under levels of a year ago, the National Association of Home Builders said in its analysis of
Home construction spending rises for first time in months Read More »