Housing

Home Affordability Slips Again For Average Workers Across U.S. In Third Quarter Amid Ongoing Price Runup

Thursday, September 23, 2021 - 5:01am

That required income was then compared to annualized average weekly wage data from the Bureau of Labor Statistics (see full methodology below).

Key Points: 
  • That required income was then compared to annualized average weekly wage data from the Bureau of Labor Statistics (see full methodology below).
  • That is up from 24.3 percent in the second quarter of 2021 and 22.3 percent in the third quarter of last year.
  • "The typical median-priced home around the U.S. remains affordable to workers earning an average wage, despite prices that keep going through the roof.
  • That's pushing average workers closer and closer to the point where lenders might be reluctant to give them a mortgage.

Broward Real Estate Home Sales Again Rise Year-over-Year in August 2021

Thursday, September 23, 2021 - 12:00am

Broward County total home sales rose 10.8% year-over-year in August 2021, from 3,089 sales to 3,422.

Key Points: 
  • Broward County total home sales rose 10.8% year-over-year in August 2021, from 3,089 sales to 3,422.
  • Broward existing condo sales are up in all price ranges in August 2021, with major transaction increases in properties selling at $300K and above.
  • Broward single-family luxury ($1-million-and-up) transactions jumped 68.1% year-over-year to 195 sales in August 2021.
  • Short sales and REOs accounted for 0.2% and 0.8% year-over-year, respectively, of total Broward sales in August 2021.

Richmond American Homes Debuts First Idaho Community

Wednesday, September 22, 2021 - 10:01pm

EAGLE, Idaho, Sept. 22, 2021 /PRNewswire/ --Richmond American Homes of Idaho, Inc., a subsidiary of M.D.C. Holdings, Inc. (NYSE: MDC), is pleased to announce the debut of its new community in the sought-after Legacy masterplan ( RichmondAmerican.com/Legacy ) in Eagle.

Key Points: 
  • EAGLE, Idaho, Sept. 22, 2021 /PRNewswire/ --Richmond American Homes of Idaho, Inc., a subsidiary of M.D.C. Holdings, Inc. (NYSE: MDC), is pleased to announce the debut of its new community in the sought-after Legacy masterplan ( RichmondAmerican.com/Legacy ) in Eagle.
  • Richmond American may be new to Idaho, but the Richmond American Homes companies have been in business for over 40 years.
  • However, personalization is what truly distinguishes Richmond American from other leading national homebuilders.
  • Operating under the name Richmond American Homes , MDC's homebuilding subsidiaries have built more than 210,000 homes since 1977.

Bitdeer Group's Mining Datacenter Boasts Unmatched Capacity and Energy Efficiency

Wednesday, September 22, 2021 - 8:40pm

Expected to approach 3,000 megawatts globally by 2023, Bitdeer Group's Mining Datacenter represents the world's top aggregate mining capacity.

Key Points: 
  • Expected to approach 3,000 megawatts globally by 2023, Bitdeer Group's Mining Datacenter represents the world's top aggregate mining capacity.
  • Mining Datacenter is one of the group's three verticals, the others being the all-in-one mining platform Bitdeer and a smart mining service Minerplus.
  • "We are the West Point in the crypto mining industry," said Matthew Wang, Head of Bitdeer Group's Global Mining Datacenter.
  • The group's three business lines - Bitdeer, Mining Datacenter, Minerplus - show its dedication to becoming the world's most reliable digital asset mining service provider.

CAPREIT Acquires Landmark Downtown Toronto Property

Wednesday, September 22, 2021 - 10:30pm

TORONTO, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (TSX:CAR.UN) announced today that it has acquired Tower Hill East, a superior-quality, luxury apartment building on St. Clair Avenue West in downtown Toronto, the sister to CAPREITs flagship property The Thomas.

Key Points: 
  • TORONTO, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (TSX:CAR.UN) announced today that it has acquired Tower Hill East, a superior-quality, luxury apartment building on St. Clair Avenue West in downtown Toronto, the sister to CAPREITs flagship property The Thomas.
  • Located close to The Thomas, the purchase positions CAPREIT with a second iconic property in Torontos prestigious Forest Hill community.
  • The property was acquired for $110.0 million, with CAPREIT assuming a $34.0 million mortgage bearing a 1.93% interest rate maturing on December 1, 2021.
  • We are very proud to bring this prestigious downtown Toronto property into the CAPREIT family.

FHLB Dallas Announces $1 Million in Hurricane Ida Charitable Relief

Wednesday, September 22, 2021 - 10:19pm

The Federal Home Loan Bank of Dallas (FHLB Dallas) will distribute $1 million in charitable donations to assist communities and FHLB Dallas members with recovery efforts from damage caused by Hurricane Ida.

Key Points: 
  • The Federal Home Loan Bank of Dallas (FHLB Dallas) will distribute $1 million in charitable donations to assist communities and FHLB Dallas members with recovery efforts from damage caused by Hurricane Ida.
  • Hurricane recovery is a long, slow process, and our hearts go out to all who were affected by Hurricane Ida, said Mike Rigby, chairman of the Board of Directors of FHLB Dallas and East Regional president of Legend Bank in Bowie, Texas.
  • FHLB Dallas is a member-owned financial institution cooperative with approximately 800 members, including 125 member institutions, such as banks and credit unions, in Louisiana.
  • We thank FHLB Dallas for stepping up and helping us so we can continue making these lifesaving grants.

McLennan Community Investment Fund Receives $8K Grant

Wednesday, September 22, 2021 - 9:50pm
Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20210922005989/en/
    From left to right: Dave Talbert, president, Insurors Indemnity Company; Bill Vance, president, McLennan Community Investment Fund and Tom Chase, chairman, Insurors Indemnity Company.
  • This FHLB Dallas funding will further our efforts to assist small businesses in McLennan County and help them grow, said Bill Vance, McCIF president.
  • We value our partnership with Insurors Indemnity, and we look forward to the fruits of this partnership through the growth of small businesses in McLennan County via the work of McCIF, said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas.
  • For more information about the 2021 PGP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com/pgp .

Industry Leaders Adopt and Invest in Serviced Accommodation Tech Leader to Advance the Industry

Wednesday, September 22, 2021 - 9:55pm

REVE's investment in Coded comes amidst a tumultuous period for the serviced accommodation industry.

Key Points: 
  • REVE's investment in Coded comes amidst a tumultuous period for the serviced accommodation industry.
  • The Covid-19 pandemic forced many serviced accommodation providers to trim operations, reduce operating expenses, minimize lease exposure and postpone capital investments such as technology.
  • As the industry returns to pre-pandemic levels, serviced accommodation providers are seeking new ways to improve their bottom line.
  • Eduardo "Ed" Herrera, its founder and CEO, has over 25 years of experience in the corporate housing and serviced apartments software realm.

Redwood Trust Announces Pricing Of The Market's First Non-Agency Residential Mortgage-Backed Securitization Leveraging Blockchain-Based Technology

Wednesday, September 22, 2021 - 9:15pm

The securitization, SEMT 2021-6, had an initial notional balance of $449 million and is backed by 497 jumbo residential loans.

Key Points: 
  • The securitization, SEMT 2021-6, had an initial notional balance of $449 million and is backed by 497 jumbo residential loans.
  • In this role, Liquid Mortgage will leverage its blockchain-based technology to provide end users with more timely reporting of loan level payments of principal and interest on the underlying residential mortgages.
  • In April 2021, Redwood announced an investment in Liquid Mortgage as its third investment under the company's RWT Horizons venture investment strategy.
  • Today's announcement represents the next step in the continued partnership between Redwood and Liquid Mortgage.

Trash Butler Becomes Preferred National Provider for Greystar, the Global Leader in Multi-Family Residential Apartment Housing

Wednesday, September 22, 2021 - 7:27pm

Now the second-largest provider in the apartment doorstep trash pickup industry, Trash Butler is optimally positioned for further growth, economies of scale and market coverage.

Key Points: 
  • Now the second-largest provider in the apartment doorstep trash pickup industry, Trash Butler is optimally positioned for further growth, economies of scale and market coverage.
  • Trash Butler was selected as the preferred national provider given their superior risk mitigation features, to include utilizing 100% W2 employees instead of contractors.
  • Other Trash Butler competitive advantages in the selection process include:
    Contractual performance guarantees backed by financial penalties.
  • ABOUT TRASH BUTLER: Trash Butler is the 2nd largest doorstep valet trash and recycling company in the country, serving the Multi-Family Apartment industry, student housing, and condo communities.