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Federal Reserve Chair Janet Yellen told Congress Feb. 14 during the central bank’s semiannual Monetary Policy Report that commercial real estate valuations have been an increasing area of concern during the past year, Reuters reported. Yellen further noted that commercial property prices are a growing concern.
The U.S. Court of Appeals for the District of Columbia Circuit on Feb. 16 ruled that the Consumer Financial Protection Bureau can defend the constitutionality of its leadership structure, HousingWire reported. A three-judge panel of the court previously ruled the leadership structure was unconstitutional; the entire court will now hear the case.
Apartment fundamentals are expected to remain strong this year, with rents rising faster than inflation and units experiencing healthy occupancy rates, according to real estate investment firm Marcus & Millichap, National Real Estate Investor reported Feb. 14.
The delinquency rates for commercial mortgage-backed securities could increase this year due to a sharp rise in delinquent CMBS loans, according to ratings agency Morningstar Credit Ratings, MBA NewsLink reported Feb. 16. CMBS delinquencies fell 43 basis points in 2016 to finish the year at 3 percent.
Domestic investment in U.S. hotels is expected to increase this year, offsetting a decline in foreign investment, according to real estate services firm JLL, MBA NewsLink reported Feb. 16. The nation’s hospitality sector should be flat as a result, with nearly $31 billion in transactions — on par with last year.
Average fixed mortgage rates during the past week dropped slightly for the second consecutive week, Freddie Mac reported Feb. 16 in its Primary Mortgage Market Survey.
Northeast Denver topped the list of the country’s suburban hotspots, and its median home price jumped 27 percent between 2015 and 2016, Realtor.com reported Feb. 13. Suburban enclaves outside Dallas and San Francisco rounded out the top three.
Strict mortgage lending standards are causing many would-be buyers to completely abandon the real estate market, according to a report from the Urban Institute’s Housing Finance Policy Center, MarketWatch reported Feb. 14.
Housing affordability is at its lowest level since 2008, with regulatory constraints, land and labor prices driving up construction costs, the National Association of Home Builders reported Feb. 16. Only 59.9 percent of homes sold between October and December were affordable to families earning the U.S. median income of $65,700.
One quarter of the nation’s homes, with a combined value of $4.9 trillion, are located in areas at high risk for one of four main environmental hazards: superfund sites, brownfields, pollution or poor air quality, analytics firm Attom Data Solutions reported Feb. 13 in its Environmental Hazards Housing Risk Index.
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