The Community Builders Opens Chicago Development Officials recently celebrated the grand opening of a 53-unit development that is the latest phase of the sweeping Oakwood Shore revitalization project in Chicago. Read More Affordable Housing Finance https://www.housingfinance.com/developments/the-community-builders-opens-chicago-development_o
Read MoreYear: 2022
Governor Hochul Announces Construction Has Begun on $44 Million Housing Development for Seniors in Yonkers
Governor Hochul Announces Construction Has Begun on $44 Million Housing Development for Seniors in Yonkers All 60 apartments will be affordable to residents aged 62 and older with incomes at or below 60 percent of the Area Median Income. Read More New York Homes and Community Renewal https://hcr.ny.gov/news/governor-hochul-announces-construction-has-begun-44-million-housing-development-seniors
Read MoreModels Open For Touring at 55-Plus Active Adult Communities
Models Open For Touring at 55-Plus Active Adult Communities Del Webb at Trinity Falls and Del Webb at Union Park are both showcasing six models. Read More The Dallas Morning News https://www.dallasnews.com/sponsored/real-estate/2022/10/16/models-open-for-touring-at-55-plus-active-adult-communities/
Read MoreDeclining Demand Drives Price Pullback
Declining Demand Drives Price Pullback The recent housing market slowdown has been disproportionately due to a pullback in demand and not an increase in supply. Supply, as measured by new for-sale listings, decreased compared to… Read More Zillow https://www.zillow.com/research/declining-demand-drives-price-pullback-31525/
Read MoreTiny Homes to Alleviate Housing Shortage
Tiny Homes to Alleviate Housing Shortage The first change would allow people to add ‘accessory dwelling units’ to their property. The second would let developers build tiny houses on lots that are too small for a traditional single-family home. Read More WXPR https://www.wxpr.org/business-economics/2022-10-13/can-tiny-homes-alleviate-ironwoods-housing-shortage
Read More10/14/2022 – MetroIntelligence Economic Update by P. DUFFY
MetroIntelligence Economic Update by P. DUFFY CPI rebounds to 0.4 percent in September, up 8.2 percent year-on-year The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in September after rising 0.1 percent in August, and was up 8.2 percent year-on-year. The index for all items less food and energy rose 0.6 percent in September, as it did in August, and rose 6.6 percent year-on-year. https://www.bls.gov/news.release/cpi.nr0.htm Federal Reserve meeting minutes shows continuing commitment to lower inflation with more rate hikes In their consideration of the appropriate stance…
Read MorePeter Templeton Named President & CEO of U.S. Green Building Council and Green Business Certification Inc.
Peter Templeton Named President & CEO of U.S. Green Building Council and Green Business Certification Inc. Long-time green building proponent to lead USGBC and GBCI during critical time for coordinated climate action and accelerated progress on health, equity and sustainability goals Read More USGBC https://www.usgbc.org/articles/peter-templeton-named-president-ceo-us-green-building-council-and-green-business
Read MoreBuilder Business Grew Significantly in 2021
Builder Business Grew Significantly in 2021 The 2021 NAHB census shows that the median gross revenue of an NAHB builder in 2021 was an all-time high of $3.3 million, up 26.9% from the previous year. Read More NAHB https://www.nahb.org/blog/2022/10/builder-business-grew-significantly-in-2021
Read MoreWhy Educated Millennials Still Hold the Key to Future Homeownership Demand
Why Educated Millennials Still Hold the Key to Future Homeownership Demand The homeownership rate for millennials with a bachelor’s degree in 2021 was 9 percentage points higher than those with just a high school degree. Read More First American Financial Corporation https://blog.firstam.com/economics/why-educated-millennials-still-hold-the-key-to-future-homeownership-demand
Read More10/11/2022 – MetroIntelligence Economic Update by P. DUFFY
MetroIntelligence Economic Update by P. DUFFY Payrolls rise by 263,000 in September, unemployment rate edges down to 3.5 percent Total nonfarm payroll employment increased by 263,000 in September, and the unemployment rate edged down to 3.5 percent. Notable job gains occurred in leisure and hospitality and in health care. The labor force participation rate was little changed at 62.3 percent in September, and the employment-population ratio was unchanged at 60.1 percent. Both measures are 1.1 percentage points below their values in February 2020, prior to the coronavirus (COVID-19) pandemic.…
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