Washington Square owner owes more than $600,000 in property taxes

The far-east side shopping center appears on the list of delinquent properties for Marion County's next tax sale.

from
https://www.ibj.com/blogs/3-property-lines/post/64855-washington-square-owner-owes-more-than-600000-in-property-taxes

UPDATE: $15M Block 20 project snagged by appeal

Neighbors of the development proposed for a surface lot adjacent to the Athenaeum filed the appeal after a judge ruled against their challenge in July.

from
https://www.ibj.com/blogs/3-property-lines/post/64856-update-15m-block-20-project-snagged-by-appeal

Rising Rents Lead to Increased Homeless Population

If New York metro rents grow five percent, 3,000 more people will be forced into homelessness

from
http://zillow.mediaroom.com/2017-08-03-Rising-Rents-Lead-to-Increased-Homeless-Population

FHFA on Race, Homeownership, and G-Fees; Housing Reform Bills; Rates Steady at Recent Lows

Federal Housing Finance Agency Director Melvin L. Watt focused much of his speech to the National Association of Real Estate Brokers (NAREB) on its five-year goal of creating two million new Black homeowners. The numbers don't lie, Watt said. In 2004 African Americans had a homeownership rate of almost 50 percent. This year the rate is down to 42 percent, a lmost back to 1994 levels . "Because equity in homes has always represented a major part of African American assets, the impact of the economic and foreclosure crisis on African American wealth has been substantial." There are the well-known historical reasons for low homeownership rates among African American households, he said, including disproportionate unemployment and under-employment, low and stagnant wages, non-existent and depleted

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/8/2/2919

Rates Trickle to 1-Month Lows; Multifam a Drag on Construction; Prices Rising Too Fast

Mortgage rates continued lower today, matching the best levels in just over a month. Prospective borrowers are increasingly seeing conventional 30yr fixed quotes in the high 3% range on top tier scenarios, though 4.00% is still more prevalent overall. Consumer rates are dictated by movement in underlying bond markets. The first day of any given month can occasionally see bigger moves in bond markets as some of the biggest investors are able to make changes in their holdings that they weren't able to make until the previous month ended. It's as if July's "final answers" were locked in and now August marks the start of the next round of questions. On a simpler note, GM posted a sharp decline in auto sales this morning. This builds a case for economic weakness, leading more traders to seek safer

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/8/1/2917

Pending Sales Increase is 1st in 4 Months; Price Index Wavering; Rates Modestly Lower

Pending home sales recovered from a three-month swoon in June, increasing 1.5 percent in June. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) rose to 110.2. NAR also revised the May PHSI up slightly, from 108.5 to 108.6. The index in June was 0.5 percent higher than a year earlier. NAR said it was the first time the Index ran higher on an annual basis since last March. The Index is a forward-looking indicator based on contracts for existing home purchases. Those contracts are generally expected to result in completed transactions in about two months. Analysts were expecting an increase in contract signings, although at a more modest level. The index came in at the top of predictions from those polled by Econoday which ranged from 0.3 to 1.5 percent

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/7/31/2915

Rates Starting to Look Paralyzed; Millennial Homeownership Improves; Why Aren't Builders Building?

Mortgage rates were generally flat today, despite improvements in underlying bond markets. Although several lenders did offer price improvements throughout the course of the day, the improvements were generally "token" in nature and did little to alter the sense of paralysis in the bigger picture. This is the third straight day with essentially no change. Uncertainty, fear, a lack of inspiration, or some combination of the three all have the ability to paralyze rates from time to time. Uncertainty is leading the charge at the moment. On the one hand, we have global central banks chomping at the bit to drain the proverbial punch bowl (buying fewer bonds and raising rates). On the other hand, those central banks admit they can't be too aggressive without justification from rising inflation, and

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/7/28/2911