The House early this morning approved President Biden’s $1.9 trillion COVID-19 relief plan. The House package includes a provision to gradually increase the minimum wage to $15 an hour by 2025 but the Senate may strip this provision out the bill because the Senate parliamentarian has ruled it does not comply with the rules regarding budget reconciliation.
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income surged in January to a seasonally adjusted annual rate (SAAR) of $21,454 billion. The 10% increase in personal income was largely the effects of the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act, which includes $1,660.9 billion in Economic impact payments. Compensation of employees… Read More ›
The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac will extend their moratorium on single-family foreclosures and evictions until June 30, 2021. The foreclosure moratorium applies to Fannie Mae and Freddie Mac-backed single-family mortgages only. The eviction moratorium applies to properties that have been acquired by Fannie and Freddie through foreclosure or deed-in-lieu of foreclosure transactions.
On the latest episode of the Housing Developments podcast, NAHB CEO Jerry Howard and Chief Lobbyist Jim Tobin have a candid discussion with Scott Reuter, chief appraiser and head of valuation at Freddie Mac, and Kurt Dinnes, founder of Sun Custom Homes in Oklahoma City, on the appraisal process during this time of skyrocketing lumber prices.
