Good Morning! Today is Thursday, May 23. The U.S. Senate will vote again today on a bipartisan border plan. China launched military drills around Taiwan after the island’s new president asserted its sovereignty. Nikki Haley said she will vote for Trump.
The Mortgage Note Reports
Batter Up: Professional sports stadiums are an anchor for a growing number of real estate developments as teams capitalize on Americans’ desire for all-encompassing experiences. Writer Chuck Green has the story.
New, Existing Sales Slip: Both new and existing home sales dropped last month, surprising analysts who expected to see gains.
AI In Industry: Title insurance provider Fidelity National Financial is upping its technology game by naming a Chief Artificial Intelligence Officer.
In other mortgage and housing news…
“Devastating Time”: Older Americans are facing a shortage of affordable and accessible homes as climate change worsens and displacement increases.
Housing Help: Arizona’s governor signed new legislation aimed at increasing ADUs and multi-unit buildings like duplexes.
Another Record: The median U.S. home sale price hit a record $387,600 during the four weeks ending May 19, up 4% from a year earlier…
Opportunity Zone: …but prices rose in only half of economic redevelopment zones during the first quarter, though they generally followed national patterns.
“Preventable Expenses”: ICE released a white paper outlining how fee cures and their associated costs are ballooning the price of originating a mortgage.
Take A Look: This “multi-generational Malibu haven” by the renowned architect Edward R. Niles is up for auction.