Morning Briefing: House prices continue steady gains

by Steve Randall01 Jun 2016
House prices continue steady gains
House prices edged higher across the US in March according to the latest S&P/Case-Shiller House Price Index.

There was an annual gain of 5.2 per cent, down 0.1 percentage points from February, while the 10 and 20 city composites held steady at 4.7 and 5.4 per cent. Portland, Seattle and Denver saw the strongest gains. There was a monthly gain nationally of 0.7 per cent.

“The economy is supporting the price increases with improving labor markets, falling unemployment rates and extremely low mortgage rates. Another factor behind rising home prices is the limited supply of homes on the market. The number of homes currently on the market is less than two percent of the number of households in the U.S., the lowest percentage seen since the mid- 1980s,” commented S&P Dow Jones indexes chief David M. Blitzer.
Floyd Mayweather picks up knockout pad for $7.7 million
Floyd Mayweather has bought a Miami Beach mansion for $7.7 million. The Real Deal reports that the former boxer picked up the newly-built 4-bedroom, 5-bathroom home on Pine Tree Drive described by a Sotheby’s International realtor as a “zen retreat on the water.”

Mayweather’s new pad certainly has plenty of waterside luxury including 80-ft frontage and boat dock. There is also a swimming pool with LED lighting.
Landlord insists on Facebook likes from residents
Residents of an apartment complex in Salt Lake City, UT have been angered by a directive from their building’s owner. TV station KSL reports on its website that residents were told that they must ‘like’ the landlord’s Facebook page or be in breach of contract.

The requirement is an add-on to existing leases and attorney Zachary Myers told KSL that it may therefore be unenforceable. He also warned that it may be considered discriminatory to those who are unwilling or unable to create a Facebook account in order to comply.

The article does not include any comment from the building owners.



Is TILA-RESPA a good or bad thing long term?