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FHFA: Home Prices Rise in Q2

By Susanne Dwyer

Home prices rose 1.6 percent in the second quarter of 2017, according to the Federal Housing Finance Agency’s (FHFA) House Price Index (HPI). The HPI year-over-year—based on prices for homes with Fannie Mae- and Freddie Mac-backed mortgages—was up 6.6 percent.

“U.S. house prices rose in most states during the second quarter,” said William Doerner, senior economist at the FHFA, in a statement. “New-home sales are climbing, but, relative to the overall population, they still remain low from a historical perspective. The tight inventory is a major explanation for why house prices have been increasing every quarter over the last six years.”

Per the Index, quarterly home price changes ranged from 0.8 percent in the Middle Atlantic Census division to 2.6 percent in the Pacific Census division.

Source: Federal Housing Finance Agency (FHFA)

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From:: Finance and Economy

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FHFA: Home Prices Rise in Q2

By Susanne Dwyer

Home prices rose 1.6 percent in the second quarter of 2017, according to the Federal Housing Finance Agency’s (FHFA) House Price Index (HPI). The HPI year-over-year—based on prices for homes with Fannie Mae- and Freddie Mac-backed mortgages—was up 6.6 percent.

“U.S. house prices rose in most states during the second quarter,” said William Doerner, senior economist at the FHFA, in a statement. “New-home sales are climbing, but, relative to the overall population, they still remain low from a historical perspective. The tight inventory is a major explanation for why house prices have been increasing every quarter over the last six years.”

Per the Index, quarterly home price changes ranged from 0.8 percent in the Middle Atlantic Census division to 2.6 percent in the Pacific Census division.

Source: Federal Housing Finance Agency (FHFA)

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From:: Real Estate News

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The Renter Budget: Most and Least Costly Cities

By Susanne Dwyer

Renters’ budgets are being stretched in many cities—but some more than others, according to a new study by GOBankingRates. The most costly:

  1. San Francisco, Calif.
    Median Rent (One-Bedroom Apartment): $3,395
  1. San Jose, Calif.
    Median Rent (One-Bedroom Apartment): $2,505
  1. New York
    Median Rent (One-Bedroom Apartment): $2,395
  1. Washington, D.C.
    Median Rent (One-Bedroom Apartment): $2,271
  1. Jersey City, N.J.
    Median Rent (One-Bedroom Apartment): $2,200

The least costly:

  1. El Paso, Texas
    Median Rent (One-Bedroom Apartment): $555
  1. Detroit, Mich.
    Median Rent (One-Bedroom Apartment): $600
  1. Wichita, Kan.
    Median Rent (One-Bedroom Apartment): $625
  1. Tucson, Ariz.
    Median Rent (One-Bedroom Apartment): $628
  1. Fresno, Calif.
    Median Rent (One-Bedroom Apartment): $650

Source: GOBankingRates

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From:: Real Estate News

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5 States Where Residents Lead Richer Lives

By Susanne Dwyer

Select states have a quality of life that surpasses others in areas such as employment, housing and safety. A recent study by GOBankingRates ranks the top five:

  1. New Hampshire
    Median Household Income: $66,779
    Median Home List Price: $278,000
    Violent Crimes Per 1,000 People: 1.99
  1. Wyoming
    Median Household Income: $58,840
    Median Home List Price: $238,125
    Violent Crimes Per 1,000 People: 2.22
  1. Virginia
    Median Household Income: $65,015
    Median Home List Price: $299,950
    Violent Crimes Per 1,000 People: 1.96
  1. North Dakota
    Median Household Income: $57,181
    Median Home List Price: $201,500
    Violent Crimes Per 1,000 People: 2.39
  1. Delaware
    Median Household Income: $60,509
    Median Home List Price: $260,000
    Violent Crimes Per 1,000 People: 4.99

Source: GOBankingRates

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From:: Real Estate News

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5 States Where Residents Lead Richer Lives

By Susanne Dwyer

Select states have a quality of life that surpasses others in areas such as employment, housing and safety. A recent study by GOBankingRates ranks the top five:

  1. New Hampshire
    Median Household Income: $66,779
    Median Home List Price: $278,000
    Violent Crimes Per 1,000 People: 1.99
  1. Wyoming
    Median Household Income: $58,840
    Median Home List Price: $238,125
    Violent Crimes Per 1,000 People: 2.22
  1. Virginia
    Median Household Income: $65,015
    Median Home List Price: $299,950
    Violent Crimes Per 1,000 People: 1.96
  1. North Dakota
    Median Household Income: $57,181
    Median Home List Price: $201,500
    Violent Crimes Per 1,000 People: 2.39
  1. Delaware
    Median Household Income: $60,509
    Median Home List Price: $260,000
    Violent Crimes Per 1,000 People: 4.99

Source: GOBankingRates

For the latest real estate news and trends, bookmark RISMedia.com.

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From:: Real Estate News

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President Trump pardoned Joe Arpaio, a controversial ex-sheriff

President Donald Trump has pardoned controversial former Maricopa County, Ariz., Sheriff Joe Arpaio. Trump told Fox News last weekend that he was “seriously considering” a pardon for Arpaio. Arpaio, who was found guilty of criminal contempt for disregarding a court order in a racial profiling case, had been scheduled to be sentenced October 5. Trump has been under fire for blaming “both sides” for a violent white-supremacist rally in Charlottesville, Va. two weeks ago. Arpaio, 85, violated a 2011 order barring him and his office from detaining individuals solely based on suspicions about their legal status. At a campaign-style rally in Phoenix, Trump defended Arpaio, saying he was “just doing his job” and suggested then that a pardon of the ex-law enforcer was imminent.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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President Trump just pardoned Joe Arpaio, a former Arizona sheriff convicted of racial profiling

President Donald Trump has pardoned controversial former Maricopa County, Ariz., Sheriff Joe Arpaio. Trump told Fox News last weekend that he was “seriously considering” a pardon for Arpaio. Arpaio, who was found guilty of criminal contempt for disregarding a court order in a racial profiling case. His sentencing had been scheduled for October 5. The pardon comes after Trump has been under fire for blaming “both sides” for a violent white-supremacist rally in Charlottesville, Va. two weeks ago.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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State Housing Agencies Abuse TARP Funds

Taxpayer funds that were intended to support distressed borrowers in areas that suffered the most from the housing crisis have, in some cases, been used for frivolous purposes by state housing agencies.

The Hardest Hit Fund was established in 2010 by the Obama administration to assist distressed borrowers on loans secured by properties in communities suffering the most from the housing crisis.

The program, initially funded with $1.5 billion in capital, was paid for through the Troubled Asset Relief Program, which was created through the Emergency Economic Stabilization Act of 2008.

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From:: Financing

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North Korea fires ‘unidentified projectiles’ into the air

North Korea has fired what appears to be several ballistic missiles, according to reports. South Korean military officials described seeing “unidentified projectiles” launched about 150 miles into the air off North Korea’s east coast. If confirmed, it would mark a renewed escalation of tensions between the U.S. and Pyongyang, which had cooled somewhat over the past few weeks. President Donald Trump in an Aug. 8 news conference threatened “fire and fury” at the isolated kingdom if it continues to test ballistic missiles. The U.S. military and South Korea are currently engaged in military training exercises on the Korean Peninsula.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Hurricane Harvey upgraded to Category 4

Hurricane Harvey has been upgraded to a Category 4 storm with sustained winds of up to 129 miles and hour. The hurricane is barreling down on the Gulf of Mexico and is set to be the first substantial hurricane to hit Texas since Hurricane Ike hit the Gulf Coast in 2008 and may be the first to make landfall in about 47 years. Category 4 storms have sustained winds ranging from 131 to 155 mph and can cause catastrophic property damage.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News