Year: 2022

Project Renewal Open 117 Supportive, Affordable Homes With Aquaponics Farming in the Bronx Integrated throughout the LEED-certified building are innovative design elements, amenities, and services that support residents’ health and long-term stability. Read More The City Life https://thecitylife.org/2022/07/14/project-renewal-open-117-supportive-affordable-homes-with-aquaponics-farming-in-the-bronx/

Construction Begins on South L.A. Mixed-Use Development Evermont Plans for the site include 180 affordable homes for seniors and families, retail stores, a transit plaza and a Metro training facility. The future LEED certified homes will be… Read More LA Business First https://www.bizjournals.com/losangeles/news/2022/07/15/construction-begins-on-south-la-mixed-use-evermont.html

Lumber Prices Tumble After Huge Gains in 2021 The lumber market has taken some big hits from rising inflation and a slowdown in the housing market, with lumber prices down more than 40% in the first six months of the year. Read More Barrons https://www.barrons.com/articles/lumber-prices-tumble-after-huge-gains-in-2021-51657778400

MetroIntelligence Economic Update by P. DUFFY Producer Price Index rises 1.1 percent in June and 11.3 percent year-on-year The Producer Price Index for final demand increased 1.1 percent in June, following advances of 0.9 percent in May and 0.4 percent in April. Final demand prices moved up 11.3 percent for the 12 months ended in June, the largest increase since a record 11.6-percent jump in March 2022.  Prices for final demand less foods, energy, and trade services moved up 0.3 percent in June after advancing 0.4 percent in both May and…

Housing-Affordability Index Drops to Lowest Level Since 2006 Affordability is likely to get worse in the coming months because home-price growth is expected to exceed income growth. Read More The Wall Street Journal https://www.wsj.com/articles/housing-affordability-index-drops-to-lowest-level-since-2006-11657288800

Mortgage Rates Tumble Amid Recession Unease The cooling economy has given summer homebuyers much-needed respite from rising mortgage rates. Read More U.S. News https://money.usnews.com/loans/mortgages/articles/mortgage-market-news-july-7-2022

Why the Fed is Taking a Hammer to the Housing Market As the Fed boosts its baseline interest rate range, borrowing costs for consumers and businesses rise along the way. Read More The Hill https://thehill.com/policy/3556681-why-the-fed-is-taking-a-hammer-to-the-housing-market/

MetroIntelligence Economic Update by P. DUFFY   CPI up 1.3 percent in June and 9.1 percent year-on-year The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May, and was up 9.1 percent over the last 12 months, the highest annual rate since November 1981. The increase was broad-based, with the indexes for gasoline, shelter, and food being the largest contributors. The index for all items less food and energy rose 0.7 percent in June, after…

Biden-Harris Administration Announces $40 Million to Lower Utility Costs for American Families Community organizations and state agencies will help American families make homes energy efficient and save money Read More U.S. Department of Energy https://www.energy.gov/articles/biden-harris-administration-announces-40-million-lower-utility-costs-american-families