The Senate Banking Committee has set a hearing to examine the reforms next week
An improvement in senior home values helps drive the increase
However, the QM rule is continuing to dog lenders, overlays, documentation and DTI were the largest headwinds to the market, according to a survey conducted by NAR.
Rising home prices and stagnant wages have cemented a system where more and more household disposable income is going to housing, something that is unsustainable. Since 1975, home prices and inflation have continued to skyrocket, while real wage growth has remained mostly stagnant.
The United States Senate confirmed President Obama’s nomination of deputy secretary of HUD in a 68-28 vote on Tuesday.
Hardly any bankers have been prosecuted for their role in the financial crisis. Instead, prosecutors are continuing to settle with large financial institutions outside of the courtroom.
As Detroit tax foreclosure auctions increase and new property owners try to evict tenants on their own without the legal system's help, will the process of evicting occupants from foreclosures be improved?
The top five cities with the strongest year-over-year home sale growth also experience wage growth, while the five places with the strongest declines saw median incomes drop and home prices rise.