Good morning! Today is Monday, November 16. Most of the nation has “uncontrolled spread” of Covid-19, topping 11 million total new cases – a million more than last weekend. Victor Glover will be the first Black crew member on the International Space Station (ISS). Glover and three other astronauts were launched into space yesterday, and are expected to reach ISS this morning. Dustin Johnson won the Masters, finishing 20-under par, breaking by two shots the record set by Tiger Woods in 1997.
And in mortgage and housing news …
FREDDIE CEO RESIGNS: Freddie Mac chief executive officer David Brickman notified the company this week that he is stepping down from the role he has held since just last year, Freddie announced in an SEC filing. Brickman’s resignation will be effective January 8.
RENTER JOB LOSS: Renters are more likely to have lost their job or wages during the Covid-19 pandemic than homeowners, according to a new report released this week by Redin.
PEOPLE ON THE MOVE: A look at new hires and job moves across the lending and housing industries.
COVID FUTURE: Covid-19 pushes real estate into the future. Some technologies are here to stay.
AFFORDABILITY INDEX: At the national level, housing affordability declined in September 2020 compared to a year ago but rose compared to August, according to NAR’s Housing Affordability Index.
HOUSING BUBBLE: Rapidly rising housing prices in the U.S. has led to talk of another housing bubble like the one that helped trigger the financial crisis a little more than a decade ago.
RENOVATION RISKS: More homeowners have taken on remodeling projects, but not all end up successful.
FLORIDA HOUSING: The Florida Realtors released a report at the end of last week showing the state’s housing market reported strong gains in the third quarter of 2020 even as the coronavirus pandemic continued, with more closed sales, rising median prices, more new listings and more new pending sales compared to 3Q 2019.
FAMILY BUYERS: The coronavirus pandemic is giving a big boost to multi-generational homebuying.
COMMERCIAL REAL ESTATE: As office and retail sectors face ongoing pressure, a major reimagining of building spaces is underway.
RENT TRENDS: Renters are picking up and moving – and it’s causing rent to fall but also rise in some areas.