News 

White House advances housing finance reform proposal

“The Trump administration on Thursday released a proposal for the role of the government in housing finance, setting out a list of principles that are broadly similar to most consensus views on the topic, but which practically stand little chance of being enacted” writes Andrea Riquier for marketwatch.com. The two government-sponsored mortgage enterprises, Fannie Mae FNMA, +1.08% and Freddie Mac FMCC, -0.61% would be reorganized as private entities, and would be able to issue mortgage bonds that have an explicit guarantee from the federal government, but which could only be…

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Mayor of Atlanta signs executive order blocking jail from housing ICE detainees

“Democratic Mayor of Atlanta Keisha Lance Bottoms signed an executive order Wednesday forbidding Immigration and Customs Enforcement from placing detainees in her city’s detention center” reports washingtonexaminer.com. As President Trump aiming to ensure that migrant children would no longer be separated from their parents at the U.S.-Mexico border, Bottoms signed her own order — citing her horror over the Trump administration policy. “Until the City of Atlanta receives assurance that this despicable policy of the Trump administration has been rescinded, I will not allow the City of Atlanta to risk…

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Markets News 

Housing starts roar to an 11-year high in May

“At a 1.35 million pace, housing starts saw the fastest activity since 2007” writes Andrea Riquier for marketwatch.com. New home inventories remain tight, but builders continue to chip away as best they can.” Meanwhile, years of lower-than-normal housing construction are really crunching the housing market.What happened: Builders broke ground on more homes in May, a good signal about the health of the economy and the housing market. Also read: Venture capital takes on the housing market.  Source: marketwatch.com Share This:

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Monday Memo: Retail conference, housing data

“TODAY: Executives from scores of retailers gather in Seattle for the Future Stores conference through Thursday at the downtown Sheraton” writes The Seattle Times for seattletimes.com. They’ll hear from executives of Nordstrom, Starbucks, Microsoft and other local and national retailers and technology providers on store design and new retail models.But no one from Amazon — the local company that has had the most disruptive impact on retail over the last two decades — is on the agenda, though attendees will have a chance to tour the cashier-less Amazon Go store,…

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Task force on homelessness looks to restart after Seattle head-tax debate

“The Seattle Metropolitan Chamber of Commerce refused to participate in the city council task force that produced the head tax, and vigorously fought it” writes Vianna Davila for seattletimes.com. A stalled King County committee on homelessness looks to a post head-tax world.The fierce debate over the head tax has left the city reeling.With the death of the head tax, One Table is the only remaining regional, large-scale initiative to address homelessness in the county. Source: seattletimes.com Share This:

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Volcano-stricken Hawaiians could get up to $34,000 each in disaster aid approved by Trump

“In addition to housing assistance, Trump approved relief from several other FEMA programs, including crisis counseling, unemployment benefits and legal aid” writes Jolyn Rosa for businessinsider.com. REUTERS/Terray Sylvester HONOLULU (Reuters) – U.S. President Donald Trump on Thursday approved federal emergency housing aid and other relief for victims of the six-week-old Kilauea Volcano eruption on Hawaii’s Big Island, where hundreds of homes have been destroyed, state officials said.Trump previously issued a major disaster declaration weeks ago authorizing money from FEMA public assistance grants for the county of Hawaii, the island’s local…

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News Regulators 

The Fed just made life even worse for home buyers

“And for every month that buyers strike out, the combination of rising home prices and higher mortgage rates can add hundreds or thousands of dollars to the cost of the home” writes Jonnelle Marte Is for washingtonpost.com. Real estate agents and economists say rates are still low by historical standards, but they are expected to rise further if the Federal Reserve continues to boost interest rates.Nearly half of the new mortgages issued by Freddie Mac in the first quarter went to first-time home buyers.In February he closed on a one-bedroom condo…

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Why many home buyers suddenly feel cursed

“And for every month that buyers strike out, the combination of rising home prices and higher mortgage rates can add hundreds or thousands of dollars to the cost of the home” writes Jonnelle Marte Is for washingtonpost.com. Real estate agents and economists say rates are still low by historical standards, but they are expected to rise further if the Federal Reserve continues to boost interest rates.Nearly half of the new mortgages issued by Freddie Mac in the first quarter went to first-time home buyers.In February he closed on a one-bedroom condo…

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Seattle repeals head tax 7-2 in dramatic reversal that leaves city divided over homeless crisis

“The City Council voted 7-2 to repeal the so-called head tax during an emotional and tense meeting Tuesday afternoon” writes Monica Nickelsburg for geekwire.com. Although hundreds of businesses would be affected by the tax, Amazon is was explicit target of Sawant and her supporters during the head tax debate.Sawant, a socialist and ardent supporter of the head tax, disagreed.As the Council prepared to vote, supporters of the tax crowded in front of the Council holding a massive banner reading “Tax Amazon” and chanting.The head tax is divisive even within Amazon. Source:…

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GBP News 

Guinea selects national flower for the first time with help from Kew Gardens

“The West African nation of Guinea has chosen a national flower for the first time, with citizens voting for a critically endangered species under threat from housing developers” writes Tim Stanley for telegraph.co.uk. That site is threatened with housing, it has already been allotted for a housing development,” said Ms Charlotte Couch, a British botanist who leads a partnership with Kew Gardens in Guinea. Source: telegraph.co.uk Share This:

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