Morning Roundup (10/1/2024) – Live-Work-Play

Good Morning! Today is Tuesday, October 1. Israel launched an invasion into southern Lebanon. JD Vance and Tim Walz will debate tonight on CBS at 9 p.m. Eastern Time. Former President Jimmy Carter turned 100 today.

The Mortgage Note Reports

Live-Work-Play: The Philadelphia Navy Yard is shaping up to be one of the country’s most successful military base redevelopments. Writer Erin Flynn Jay takes a closer look at this live-work-play community.

Figure Tech: Figure Technology announced a new tool using OpenAI’s GPT, a “stare and compare killer” geared towards reducing costs, manual work, and bias.

Homes Changing Hands: Only 25 out of every 1,000 homes changed hands in the first eight months of 2024.

In other mortgage and housing news…

Affordability Win: There are four major metros where the typical starter home went from unaffordable to affordable in the last year, all in Texas or Florida.

Top Market: Dayton, OH, is the top market for real estate investors looking for hidden gems in affordable metros nationwide.

Company News: loanDepot closed a $300 million warehouse deal; Optimal Blue released two industry-based podcasts.

Helene Relief: Wells Fargo and Fairway each donated $1 million for hurricane relief.

Big Trouble In CA: State Farm, California’s largest home insurer, expects to cut one million policies in that state to stay financially solvent.

Big Ideas: Is it time to explore a payroll tax credit for housing costs?