Real residential investment subtracted
from GDP in the second quarter of the year to the greatest extent since the
third quarter of 2010. Fannie Mae's August Economic Developments notes a 6.8
percent annualized decline, but the company's economists expect that sector's
contribution to rebound in the third quarter.
Residential investment was only part of
the GDP story with the first half of the year now complete. Fannie Mae had
forecast growth of 2.1 percent on an annualized basis in its previous forecast,
but midyear saw growth of only 1.9 percent.
There should be a slight improvement in the second half of the year, the
economists but are holding to their earlier whole year forecast of 2.0 percent.
Pressure mounts on CFPB boss Richard Cordray as the RAG calls him to the mat on his run for Governor of Ohio while on the tax payers dime.
The post Pressure Mounts on CFPB Boss appeared first on National Real Estate Post.
Although homes are about as afforable as they were pre-2008, the rate at which their prices are increasing is cause for concern. Andrew LePage,
CoreLogic Professional in Research Analysis, says the role of rising interest rates should not be overlooked; they can
affect affordability more than home price appreciation.
Household incomes have not been keeping up with rising
home prices, but the persistently low interest rates have mitigated some of the
impact. But LePage asks, what will
happen now that rates are trending higher again?