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Report suggests capital gains tax is discouraging older homeowners from downsizing

Housing Wire

While recent housing market reports and trends have shown that older homeowners are unwilling to sell their homes for a variety of reasons, one of them may be the expected requirement to pay capital gains taxes stemming from the post-pandemic explosion of home-price appreciation, according to a report from Business Insider.

Sales 397
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CoreLogic’s John Rogers on AI, climate risk and land development issues

Housing Wire

Rogers met with HousingWire to discuss his new role and cover a variety of topics, including artificial intelligence (AI), climate risk and land development. Ninety-five percent of all flood insurance is from the NFIP, which is good for you and I as homeowners. NP: You work directly with land developers too.

Land 370
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Florida’s housing affordability crisis is reaching a breaking point

Housing Wire

Homeowners now spend 35% to 45% of their income on housing costs, far above the recommended 28% threshold, Cotality explained. “The last 25 years have seen home prices, homeowners’ insurance, and property taxes surge in Florida ,” Selma Hepp , Cotality’s chief economist, said in the report.

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DOJ sues Rocket, appraisal companies over alleged discrimination

Housing Wire

Another regulator has sued Rocket Mortgage for allegedly discriminating against a Black homeowner by undervaluing her home during an appraisal in Colorado three years ago. The document states that the plaintiffs undervalued a homeowner’s property based on her race in an appraisal made in 2021 in Denver. ” On Monday, the U.S.

Mortgages 511
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FHA borrowers would get mortgage insurance relief through proposed House bill

Housing Wire

Sessions added that the bill takes a practical approach to deliver meaningful relief to homeowners. By addressing a key inequity in the FHA system, this bill rewards financial responsibility and empowers homeowners across the country. Mortgage insurance exists as protection from foreclosure on low equity loans. In November, the U.S.

FHA loan 418
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New-home sales hit highest level since 2021

Housing Wire

Census Bureau and Department of Housing and Urban Development shows new-home sales registering at a seasonally adjusted annual rate of 698,000, good for a 6.7% The brief drop in mortgage rates at the end of the summer loosened the lock-in effect, and homeowners started listing their homes, pushing inventory to 1,390,000 in September.

Sales 476
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California wildfire victims could have up to 12 months of mortgage forbearance

Housing Wire

Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac are aiming to remind homeowners and renters impacted by the ongoing wildfires in Los Angeles of various relief options. Department of Housing and Urban Development (HUD). The phone number is 855-HERE2HELP (855-437-3243).

Mortgages 397