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With the huge Millennial generation finally buying houses, the National Association of Home Builders has taken a deep dive into their various preferences for where and how they are going to live. Last year it conducted the fourth in a series of buyer preference surveys, adding to data collected in 2007, 2012, and 2015. A report by Paul Emrath analyzes those choices, how they differ across age groups and changed as those groups have aged. Some of the survey's findings specific to Millennials, which they define as those currently 23 to 39 years of age, is that they prefer to buy new homes built for sale rather than those that are custom built and, while most prefer to buy in the suburbs there is an increasing desire to live in central cities.
AVM or Appraisal – Who Wins?
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Sources are telling Bloomberg that a report on the White House's plan to release Fannie Mae and Freddie Mac (the GSEs) from their 11-year long conservatorship has landed on the desks of several agencies and is also in the hands of Lawrence Kudlow, head of the National Economic Council. Bloomberg staff say this is a sign the report is getting closer to being released publicly.
The two mortgage giants were placed in conservatorship with the Federal Housing Finance Agency (FHFA) in August 2008 after they incurred large losses through mortgage defaults during the housing crisis. Over the next four years they each drew substantial operating funds from the Treasury, but both returned to profitability in 2013 and have earned billions of dollars since. All of their profits except for a relatively small buffer has been swept into the Treasury as dividends. The companies have not been allowed to rebuild capital nor have the payments to Treasury reduced any of their massive debt.