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Jun 30, 2021 12:30 PM

Biden Appoints Sandra Thompson as Acting FHFA Director

The White House on June 23 announced Sandra L. Thompson as acting director of the Federal Housing Finance Agency. Thompson, formerly the FHFA’s deputy director of the Division of Housing Mission and Goals, said she will focus on affordable housing, especially in communities of color. President Biden removed Mark Calabria as FHFA director following the Supreme Court ruling allowing him to do so.

Jun 30, 2021 12:30 PM

Supreme Court Decision on Private Property "Takings" Seen as a Victory for Owners

The Supreme Court on June 23 ruled on a Fifth Amendment “takings” decision, upholding a provision requiring the government to compensate landowners when private property is taken, even if the taking is short-term, the National Association of Home Builders reported. The ruling noted that a “central importance” of property ownership is the “right to exclude” others.

Jun 23, 2021 12:30 PM

MISMO Approves Updated Commercial Appraisal Dataset

Real estate finance industry standards group MISMO announced June 17 the availability of its updated Commercial Appraisal Dataset standard and accompanying package of resources to help facilitate an exchange of appraisal information across the CRE finance industry. The dataset achieved “Candidate Recommendation” status, meaning a thorough review by industry participants.

Jun 23, 2021 12:30 PM

Housing Supply Crisis Requires Immediate Action: NAR

Decades of reduced investment in the housing sector and significant underbuilding have caused a dire shortage of homes that urgently needs to be addressed, the National Association of Realtors stated in its June 16 report Housing is Critical Infrastructure: Social and Economic Benefits of Building More Housing. The report revealed an “underbuilding gap” of 5.5 to 6.8 million housing units since 2001.​

Jun 23, 2021 12:30 PM

Firms Rethink Plans to Shrink Office Portfolios as Employees Return to Work: CBRE

Many U.S. firms are rethinking plans to scale back their real estate portfolios and instead expect workers to return to a “relatively normal” office environment, according to the Spring 2021 Occupier Survey from real estate firm CBRE, MBA NewsLink reported June 16. Only 9% of firms said they anticipate shrinking their office footprint, down from 39% in September.

Jun 16, 2021 12:30 PM

EPA, Army Plan to Revise Definition of the National Waters

The Environmental Protection Agency and the Department of the Army announced June 9 that they intend to revise the definition of “waters of the United States” to better protect the nation’s resources. The regulatory effort will be guided by multiple stakeholders, including landowners, the agricultural community and local governments.

Jun 16, 2021 12:30 PM

Investment in Net-lease Properties Inches Closer to Pre-pandemic Levels: CBRE

Investment in net-lease properties, which comprise office, industrial and retail, jumped 10% during the first quarter compared with the same point a year ago, according to the U.S. Net Lease Investment Report from commercial real estate firm CBRE, MBA NewsLink reported June 8. The report cited increased interested in office properties and “robust” institutional acquisition activity as key drivers.​

Jun 16, 2021 12:30 PM

LREAB, FTC Settle Appraisal Services Price Fixing Charges

The Federal Trade Commission announced June 11 that the Louisiana Real Estate Appraisers Board will stop setting compensation levels for residential real estate appraisal services within the state, which the FTC alleged is a violation of federal antitrust law. The proposed settlement prevents the LREAB from adopting a fee schedule for appraisal services or taking any action to raise, stabilize or fix compensation levels for appraisal services.

Jun 09, 2021 12:30 PM

Biden Administration Looks at Appraisals as Part of Effort to Reduce Wealth Gap

The Biden administration announced June 1 that as part of its efforts to increase Black wealth, Department of Housing and Urban Development Secretary Marcia Fudge will lead an interagency taskforce to address inequity in home appraisals. The Appraisal Institute supports the task force, which is consistent with congressional legislation backed by the organization (H.R. 2553 the Real Estate Valuation Fairness and Improvement Act).

Jun 09, 2021 12:30 PM

Home Builders Cannot Keep Up with Homebuyer Demand, Fed Beige Book Says

Demand for new homes outpaced homebuilders’ capacity to construct in many fed districts, according to the latest Beige Book released June 2 by the Federal Reserve. Non-residential construction advanced at a moderate pace in many districts, while some reported that supply chain disruptions pushed costs higher and delayed some projects.

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