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News Updates

CORTLAND SURVEY SHOWS PET POLICIES AND PERKS BEAT OUT PRICE AND LOCATION IN HOME SEARCH

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Multifamily firm releases new pet data and announces a new brand hero timed with National Pet Month. Pet policies, such as size restrictions and pet deposits, are the top consideration for apartment dwelling dog-owners nationwide when looking for a new place to live (86%) – beating out considerations like cost (82%) and location (77%). This data is among findings from a new survey by Cortland, a vertically integrated, multifamily real

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Recession Remains Likely as Credit Conditions Tighten

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New Home Construction Solidifies as Prospective Buyers Shift Further Away from Existing Home Market The economy is still expected to enter a modest recession in the second half of the year, though unusual dynamics in the current economic cycle continue to complicate forecasting the exact timing, according to Fannie Mae’s Economic and Strategic Research (ESR) Group latest monthly commentary. Fundamentally, the ESR Group notes that consumer spending remains unsustainably high compared

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Moody’s Analytics: Spending 30% of Income on Rent Is the New Normal in Many US Metros

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Cost-of-living concerns are top of mind amongst Americans while rent-to-income ratios (RTI) remained elevated in Q1, according to Moody’s Analytics US State of Rent Burden report and data interactive tool. While seasonal slowness and rising multifamily inventory moderated rent growth, the number of US primary metros still experiencing higher rent burdens plummeted from 49 metros down to only five, a 91% drop from Q4 2022 to Q1 2023. RTI – the percentage of

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Incenter Diligence Solutions Expands Services for MSR Buyers and Sellers

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Firm’s Customized Due Diligence and Document Management Services Enable Trading Participants to Reduce Risks and Act with Agility Incenter Diligence Solutions, a provider of due diligence and document management services for the mortgage industry, announces expanded offerings for the mortgage servicing rights (MSR) trading market. These offerings complement the trading services provided by Incenter Mortgage Advisors—another member of the Incenter LLC family of companies focused on improving mortgage operations. “In an active trading

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FORECLOSURE ACTIVITY NATIONWIDE SHOWS SLIGHT DECLINE IN APRIL 2023

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Foreclosure Starts Decrease 7 Percent from Last Month;While Completed Foreclosures Decrease 39 Percent ATTOM, a leading curator of land, property, and real estate data, released its April 2023 U.S. Foreclosure Market Report, which shows there were a total of 32,977 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — down 10 percent from a month ago but up 8 percent from a year ago. Illinois, Maryland, and New Jersey post highest foreclosure ratesNationwide one

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Home-buying costs could soar 22% if US defaults on its debt

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A debt default is very unlikely, but new scenario projections from Zillow show sales would decrease sharply as mortgage costs balloon The U.S. government defaulting on its debt, which could become a reality as soon as June 1 without intervention, could send the typical cost of a mortgage soaring by 22%. Mortgage rates rising above 8% would likely overwhelm a small price dip to make affording a home an even steeper hill to

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