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The U.S. Supreme Court settled a property-rights dispute June 23, ruling that Wisconsin regulators were within their rights to block construction of separate houses on adjoining lots, writing, “the expert appraisal relied upon by the state courts refutes any claim that the economic impact of the regulation is severe," Bloomberg reported.
The Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency on June 21 released the 2017 list of distressed or underserved non-metro areas where banks are eligible for Community Reinvestment Act credit, HousingWire reported. The credits are intended to enhance community development efforts.
Rising interest rates, a lack of continued access to capital and potential market disruptions in several sectors could slow the growth of real estate investment trusts and cause investors to be much more cautious, according to the 2017 RiskFactor Report for REITs, released June 22 by accounting firm BDO.
Hotel construction continues to grow, with hotel rooms currently under contract up 13.8 percent from the same point a year ago, and hotel rooms under construction up 16.4 percent during the same timeframe, according to hospitality analytics firm STR, MBA NewsLink reported June 22.
The proposed $13.7 billion acquisition of Whole Foods by Amazon should be a boon for investors, primarily because the deal could boost grocery-anchored shopping centers and quell talk that bricks-and-mortar retail is dying, according to retail real estate services firm Levin Management, National Real Estate Investor reported June 19.
Boston’s young, educated workforce and low vacancy rates place it atop the list of best markets for multifamily investments, according to real estate services firm JLL, National Real Estate Investor reported June 22. Denver’s growing workforce and rising rents place it at number two on the list.
Sales of existing homes and median sale price increased in May amid low inventory levels, while the time homes sat on the market reached a new low during the month, the National Association of Realtors reported June 21.
Fewer adults aged 25 to 44 have purchased homes over the past decade, helping homeownership rates drop to near 50-year lows, according to a joint study released June 20 by Fannie Mae and the University of Southern California.
Continued declines in for-sale inventory, sluggish home building and smaller square footage are three of the “surprising” finds included in the State of the Nation’s Housing report released June 21 by the Harvard Joint Center for Housing Studies.
Ongoing economic uncertainty kept average fixed mortgage rates relatively unchanged and hovering near their yearly low during the past week, Freddie Mac reported June 22 in its Primary Mortgage Market Survey.
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