article thumbnail

Mortgage Banks Reported Negative Profits for the First Time Ever in 2022

Pro Builder

Negative profits in 2022 are likely a result of slower housing activity caused by higher financing costs coupled with elevated home prices, leading to lower purchase and refinance volume. Read more Financing Affordability Market Data + Trends Financing

Banking 52
article thumbnail

Lebron James I Promise Program Opens New Akron Housing Complex

Pro Builder

Lebron James I Promise Program Opens New Akron Housing Complex ldeakins Fri, 06/09/2023 - 09:39 A LeBron James-backed I Promise affordable housing complex opened its doors to 50 families in Akron, OH this week A $16.1 Housing for everyone is part of the American dream," she said.

Housing 52
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Central Bank Isn’t Backing Down—More Rate Hikes Ahead in 2023

Pro Builder

After a year of waning housing affordability driven by steady interest rate gains and historically high home prices, the latest announcement confirms that a post-pandemic market correction is far from over. Read more Economics Financing Housing Policy + Finance Housing Policy + Finance

Banking 52
article thumbnail

Banks Consider Climate Change Risk for Home Loans

Pro Builder

Banks Consider Climate Change Risk for Home Loans. Banks are starting to calculate their risk exposure to climate catastrophes, and this process can be called “underwaterwriting” or “blue-lining,” depending on whether you’re looking at it from the point of view of the bank or consumer respectively. Housing Policy + Finance.

Banking 52
article thumbnail

How Land Banking Could Help Builders Battling Shortages

Pro Builder

How Land Banking Could Help Builders Battling Shortages. Land banking offers a potential solution for builders to generate strategic capital and minimize the risks associated with land ownership in the midst of national shortages, according to John Burns Real Estate Consulting. COVID-19 has fundamentally changed the housing industry.

Banking 52
article thumbnail

Solutions to Housing Affordability

Pro Builder

Solutions to Housing Affordability. So when I gave you, our readers, the opportunity to submit a write-in response to the question: “What’s needed to enable more affordable housing?” within our annual housing forecast survey (see the results on page 17), I got what I deserved from more than 300 of you. Housing Markets.

Housing 98
article thumbnail

HUD Jumpstarts PACE Financing for Homes

Green Building Law Update

Department of Housing and Urban Development and the Department of Veterans Affairs released new guidance, changing their previous positions, now widely allowing residential Property Assessed Clean Energy (PACE) financing. PACE programs are good for the planet and good for improving the housing stock. Last week the U.S.

Finance 120