NAR Is Fighting for Your Internet Rights

By Susanne Dwyer

The National Association of REALTORS® (NAR) has joined with a coalition of businesses and public interest groups working to preserve rules surrounding the open internet, also known as net neutrality. These rules have been in place informally since the dawn of the internet, and were formally established in 2015.

Net neutrality is shorthand for the concept that internet users should be in control of what content they view and what applications they use on the internet. More specifically, net neutrality requires that broadband networks be free of restrictions on content, sites or platforms. Networks should not restrict the equipment that may be attached to them, nor the modes of communication allowed on them. Finally, networks should ensure that communication is not unreasonably degraded by other communication streams.

Why Does NAR Care?
The business of real estate is increasingly conducted online. Streaming video, virtual tours and voice-over-internet-protocol are just some of the technologies that are commonly used by REALTORS® today. In the future, new technologies will be adopted that will no doubt require unencumbered network access.

Some real estate professionals, realty website operators and real estate industry-affiliated content providers believe net neutrality provisions are necessary to prevent broadband providers (cable and telephone companies, primarily) from implementing possibly discriminatory practices that could negatively impact real estate professionals’ use of the internet to market their listings and services. Some possible examples include practices that would:

  • Limit the public’s access to real estate websites
  • Limit a real estate firm’s access to online service providers who may be in competition with network operators’ own services, e.g., internet phone services
  • Charge certain websites more for the broadband speeds necessary to properly transmit or display audio or video content, such as online property tour, podcast or phone services

Regulatory Background
In April 2015, the Federal Communications Commission (FCC) published a final rule implementing open internet regulations that prohibit the blocking or degrading of lawful content on the internet by internet service providers. Shortly after the rules were finalized, Internet service providers (ISPs) Comcast, AT&T and Verizon, and their trade association, all sued to halt implementation of the rules, alleging that the FCC does not have proper authority. The FCC, under Chairman Ajit Pai, has issued a Notice of Proposed Rulemaking that would roll back the rules put in place in 2015 and leave the internet service market largely unregulated. ISPs would be under no duty to prevent blocking or degrading its customers’ internet service. They would also now be permitted to create “fast lanes,” or deals negotiated with large content carriers to carry some website traffic faster than others.

Congress is beginning talks to explore whether legislation can be agreed to that would preserve open internet rules into law and avoid the ping pong of regulatory rules that businesses and consumers have experienced on this issue for the past several years.

NAR and its coalition partners are working both at the FCC and on Capitol Hill to preserve common sense open internet rules that will permit its members to continue to operate and innovate online. Preserving net neutrality …read more

From:: Real Estate News

‘Inelastic’ Inventory: It’s Fate

By Susanne Dwyer

Affordability is a complex web. Home prices, incomes and mortgage rates all factor in. Land use limitations also play a role—but not as large and unchanging a role as location overall, according to a recent analysis by Freddie Mac.

Home builders are burdened by compliance costs related to land use and zoning—expenditures that, over the last 30 years, have pushed home prices into unaffordable terrain. A rollback in regulations, however—which constituents and policymakers have suggested—could be ineffective in markets where home-building is physically impossible, Freddie Mac’s latest Insight shows.

“A thought experiment can illustrate the impact of regulatory relief and the limits on that relief in a city that also is constrained by geography,” says Sean Becketti, chief economist at Freddie Mac. “Imagine that San Francisco’s land use regulations were relaxed significantly. The ensuing reduction in house values would encourage migration to San Francisco, but the city’s geographic constraints guarantee that housing would still be inelastically supplied despite the reduction in regulation.”

Analysts determined that even when applying Kansas City’s relatively loose regulations, home prices in San Francisco would be as much as three times higher than the national median because of its constraints geographically. Builders, in other words, would still have scarce options.

“Inelastic” inventory, the analysts found—even with ideal conditions in land use and zoning, and demand—equals stifled supply. Prices, in turn, swing.

“Over time, existing homeowners would find it more and more in their economic interest to lobby for the restoration of stricter regulations,” Becketti says. “Both the impact and the likelihood of lasting regulatory reform appear to be limited by geographic constraints in cities with inelastic housing supply. For San Francisco, New York City and similar cities, geography may be destiny.”

Source: Freddie Mac

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

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

The post ‘Inelastic’ Inventory: It’s Fate appeared first on RISMedia.

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From:: Real Estate News

‘Inelastic’ Inventory: It’s Fate

By Susanne Dwyer

Affordability is a complex web. Home prices, incomes and mortgage rates all factor in. Land use limitations also play a role—but not as large and unchanging a role as location overall, according to a recent analysis by Freddie Mac.

Home builders are burdened by compliance costs related to land use and zoning—expenditures that, over the last 30 years, have pushed home prices into unaffordable terrain. A rollback in regulations, however—which constituents and policymakers have suggested—could be ineffective in markets where home-building is physically impossible, Freddie Mac’s latest Insight shows.

“A thought experiment can illustrate the impact of regulatory relief and the limits on that relief in a city that also is constrained by geography,” says Sean Becketti, chief economist at Freddie Mac. “Imagine that San Francisco’s land use regulations were relaxed significantly. The ensuing reduction in house values would encourage migration to San Francisco, but the city’s geographic constraints guarantee that housing would still be inelastically supplied despite the reduction in regulation.”

Analysts determined that even when applying Kansas City’s relatively loose regulations, home prices in San Francisco would be as much as three times higher than the national median because of its constraints geographically. Builders, in other words, would still have scarce options.

“Inelastic” inventory, the analysts found—even with ideal conditions in land use and zoning, and demand—equals stifled supply. Prices, in turn, swing.

“Over time, existing homeowners would find it more and more in their economic interest to lobby for the restoration of stricter regulations,” Becketti says. “Both the impact and the likelihood of lasting regulatory reform appear to be limited by geographic constraints in cities with inelastic housing supply. For San Francisco, New York City and similar cities, geography may be destiny.”

Source: Freddie Mac

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

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

The post ‘Inelastic’ Inventory: It’s Fate appeared first on RISMedia.

…read more

From:: Finance and Economy

Forrester website hacked for financial research

Forrester Research Inc. announced late Friday that its website had been attacked by criminal hackers who accessed the markets data it sells. “We recognize that hackers will attack attractive targets — in this case, our research [intellectual property],” said Forrester Chief Executive George Colony. “We also understand there is a tradeoff between making it easy for our clients to access our research and security measures.” The hackers gained access to the company’s research content on the site, but Forrester said in a news release that there is no evidence clients’ confidential information was accessed or exposed. The company said that it had shut out the hacker, taken steps to remedy the situation and notified law enforcement. Hackers have been known to seek financial data, including press releases prior to publication online as well as data from the Securities and Exchange Commission and U.S. Federal Reserve. Forrester shares were flat at $43.35 after hours, and are up nearly 1% this year, with the S&P 500 index up 14% in the same period.

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

Comedian Ralphie May dies at 45

Comedian Ralphie May died Friday at the age of 45, it was announced on his Twitter account. May was known for coming in second on the first edition of the reality-competition show “Last Comic Standing,” and used that fame to become an internationally recognized comedian. The announcement said he had been struggling with pneumonia and was found dead Friday morning at a private residence in Las Vegas due to cardiac arrest.

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

Aquantia seeks up to $86.3 million in initial public offering

Aquantia Inc. hopes to raise up to $86.3 million in an initial public offering, according to a Securities and Exchange Commission filing late Friday. The San Jose, Calif.-based company makes high-speed communications integrated circuits for Ethernet connections. Aquantia reported revenue of $86.7 million in 2016 and an unadjusted loss of 10 cents a share. For the first half of 2017, the company reported revenue of $48.8 million and an unadjusted loss of 74 cents a share. Morgan Stanley, Barclays and Deutsche Bank are listed among the underwriters. Aquantia plans to list under the ticker “AQ” on the New York Stock Exchange.

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

GE names Jamie Miller chief financial officer, 3 vice chairs to retire

General Electric Co. said late Friday that Jamie Miller will succeed Jeffrey Bornstein as chief financial officer on Nov. 1. Miller is currently CEO of GE Transportation. Bornstein, who also serves as vice chair on the board, will leave the company Dec. 31. GE also announced that vice chairs John Rice, who heads GE’s Global Growth Organization, and Beth Comstock, head of the GE Business Innovations unit, will retire on Dec. 31. Rice has been with GE for 39 years, Bornstein for 28 years, and Comstock for 27 years. Shares of GE declined 0.4% to $24.30 after hours. Jeff Immelt stepped down as GE’s CEO Aug. 1 and was succeeded by John Flannery.

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

Allena Pharmaceuticals seeks $92 million in initial public offering

Allena Pharmaceuticals Inc. said it hopes to raise up to $92 million in an initial public offering, according to a Securities and Exchange Commission filing late Friday. The Newton, Mass.-based biotech company develops drug to treat patients with rare and severe metabolic and kidney disorders. It’s lead drug in development, ALLN-177, is currently in mid-stage clinical trials for the treatment of enteric hyperoxaluria, or calcium in the urine that can lead to kidney stones, with a late-stage clinical trial expected to start in the first quarter of 2018. Credit Suisse, Jefferies and Cowen are listed among the underwriters. The company plans to list under the ticker “ALNA” on the Nasdaq. Without any reported revenue, the company reported a net loss of $24.5 million in 2016.

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

Funko, maker of popular Pop figurines, plans IPO

Funko Inc. , which makes pop-culture memorabilia including Pop figurines, filed for an initial public offering with the Securities and Exchange Commission on Friday. In its original filing, the company targeted proceeds of $100 million, though that is usually a placeholder figure that will be updated in subsequent filings. The company reported sales of $426.7 million in 2016, up from $274.1 million in the prior year, for revenue growth of more than 55%. The company is profitable, with net income of $11.9 million in the 2015 calendar year and $26.9 million in 2016. Through the first six months of 2017, Funko reports a loss of $10.2 million on sales of $203.8 million, with revenue growing 15.6% from the same period the year before. The company, which is backed by private-equity firm Acon Investments, plans to list on the Nasdaq exchange under the ticker symbol FNKO. The offering will be led by Goldman Sachs, JP Morgan and BofA Merrill Lynch.

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

Tropical storm reportedly shuts more than 70% of Gulf of Mexico oil output

Oil and natural-gas operators in the Gulf of Mexico have shut in 71.1%, or 1.24 million barrels of oil a day, in Gulf oil production, ahead of Tropical Storm Nate’s arrival, S&P Global Platts reported late Friday, citing data from the Bureau of Safety and Environmental Enforcement. The BSEE website was not accessible as of 4:30 p.m. Eastern. On Thursday, the BSEE said that 14.6% of Gulf oil output was shut in. Nate is expected to become a hurricane Saturday and pass through the center of the Gulf, according to the National Hurricane Center.

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