Morning Briefing: Cut the regulatory burden say builders

by Steve Randall02 Jun 2016
Cut the regulatory burden say builders
The National Association of Home Builders is calling on officials to cut the amount of regulation of the housing market which adds to the cost for buyers.

As it begins National Homeownership Month, NAHB cites its recent survey which shows that on average, 24.3 per cent of a new home’s final price is down to government regulations.

“The aggressive over-regulation of the housing industry is putting the American Dream of safe and affordable housing at risk,” said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill.  

NAHB’s CEO Jerry Howard added that all levels of government “must understand that their actions have real consequences.”
Mortgage applications drop 4 per cent
New mortgage applications slipped 4.1 per cent in the week ending May 27 according to the Mortgage Bankers’ Association’s seasonally-adjusted figures.

Its Market Composite Index was down 5 per cent on an unadjusted basis with the Refinance Index down 4 per cent and the seasonally-adjusted Purchase Index down 5 per cent.

Refinance applications increased to 54.3 per cent of total applications, from 53.7 per cent in the week prior.

The share of applications that were VA’s increased while those for ARM and FHA loans decreased. There was no change in the proportion of USDA loans.
Full House property lists for $4.15 million
The property used in both the original 1980’s sitcom Full House and the recent Netflix remake, is on the market for $4.14 million.

The San Francisco home at 1709 Broderick Street, Pacific Heights, was seen on screen as the Tanner’s family home, although internal scenes were filmed at a TV lot.

The 3-bedroom, 3.5-bathroom home covers 2,500 square feet and has a landscaped rear garden.


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