Mnuchin Vote Passes to Senate After Rule Change

first_img The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Phil Banker Related Articles  Print This Post 2017-02-01 Phil Banker Mnuchin Vote Passes to Senate After Rule Change Previous: Strong Year-End Performance for Radian Group Next: McCalla Raymer Pierce and Hunt Leibert Jacobson Announce Merger Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Government, Headlines, News Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago February 1, 2017 1,276 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Mnuchin Vote Passes to Senate After Rule Change Phil Banker began his career in journalism after graduating from the University of North Texas. He has covered a number of communities across Texas and southern Oklahoma, writing news and sports for publications including the Ardmoreite, Ennis Daily News and the Plano Star-Courier. He is currently a contributor to DS News and The MReport. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Steven MnuchinSteven Mnuchin, President Donald Trump’s nominee for Secretary of the Treasury, moved closer to a full Senate vote on his confirmation after all.Following a second day of protest by Democrats on the Senate Finance Committee, the Republicans on the committee voted to bypass the rules requiring the Democrats to be present for a vote to move a candidate to the next round.The GOP senators voted 14 to zero to advance both Mnuchin and Health and Human Services Secretary nominee Tom Price to the Senate for a final confirmation vote.The Republican members of the Committee used a parliamentary procedure to hold the vote without the participation of the Democratic members.”We took some unprecedented actions today due to the unprecedented obstruction on the part of our colleagues,” Sen. Orrin Hatch, the chair of the committee, said.Hatch on Tuesday called the Democrats’ efforts to stall a vote on Mnuchin “abysmal” and “amazingly stupid,” excoriating them to return and give Mnuchin an up-or-down vote.Sen. Ron Wyden (D-Oregon), the ranking member on the Senate Finance Committee, accused Republicans of “breaking the rules” by holding a vote without Democratic input.”I don’t know all the details of what just transpired, but it seems to me the basic proposition of breaking the rule so that you can in effect look the other way in the face of strong evidence of serious ethical problems for two nominees is exceptionally troubling,” Wyden said.Several Democratic senators said they have concerns over Mnuchin, specifically over the use of “robo-signing” during his tenure at OneWest.“I am pleased that Treasury Secretary nominee Steven Mnuchin will move on to a full Senate vote,” said Ed Delgado, President and CEO of the Five Star Institute and former Wells Fargo and Freddie Mac executive. “However, it is unfortunate that the Senate Finance Committee could not come to this decision unilaterally. If there was ever a time to move forward together as a nation, that time is now.”Paulina Gonzales, executive director of the California Reinvestment Coalition, said she’s opposed Mnuchin’s nomination from the start, saying he intentionally misled the Committee about OneWest’s activities during the housing crisis.“Senator Hatch and the Republicans on the committee sent a clear message to the American public this morning that a presidential nominee need not tell the truth about his record and can still be assured of his nomination being moved forward,” Gonzales said. Voters place our trust in our senators to obtain the truth from presidential nominees about their track records, and in fact, that is the point of confirmation hearings.  Yet at Mr. Mnuchin’s hearing, he lied to the senators about his bank’s well-documented history of robo-signing, he refused to provide information about the numbers of foreclosures he had overseen at OneWest Bank, and, amazingly, he continued this obfuscation twice in his follow up written responses to senators.” Subscribelast_img read more

FSBO Sellers: Is it Worth it?

first_img in Daily Dose, Featured Subscribe FSBO Sellers: Is it Worth it? Previous: Previous Post Next: Mortgage Industry Springs into Action for Irma Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Demand Propels Home Prices Upward 2 days ago To determine if for sell by owner listings provide more benefits, Trulia’s Housing Data Analysts reported where these listings are the most common and how they differ from agent-listed properties in price and DOM.Nationally the data reveals that FSBOs are listed about 2 percent more than a similar home listed by an agent, and according to Trulia, FSBOs sometimes sit on the market longer than agent listed homes.Overall, only 6.2 percent of all listings were for sale by owner, and the report noted that Tulsa, Oklahoma had the highest percentage of FSBO listing across the nation at 12.7 percent.The largest positive difference in listing price for a FSBO is in Pittsburg, Pennsylvania, where a “comparable FSBO home is listed at 12.9 percent premium to an agent-listed home.” In Philadelphia, Pennsylvania is where there is the largest negative difference in FSBO listing prices at -14 percent.Though data shows that there are some benefits for sale by owner sellers, it is important to note the value and knowledge of the industry that professionals, like agents, can bring to the table. And Trulia’s information reveals that it is important to remember that agents have access to resources, including home stagers, lenders, home inspectors and legal help. Agents also know what marketing approach works in a market, and according to Trulia, “perhaps even more importantly, agents know that a listed price is just a starting point.”To view all of Trulia’s data, click here. Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Tagged with: HOUSING mortgage Trulia  Print This Post About Author: Nicole Casperson The Best Markets For Residential Property Investors 2 days agocenter_img Home / Daily Dose / FSBO Sellers: Is it Worth it? Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily September 7, 2017 1,596 Views HOUSING mortgage Trulia 2017-09-07 Nicole Casperson Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Share Savelast_img read more

Q1 Mortgage Delinquency Snapshot

first_img  Print This Post The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago MBA Mortgage Bankers Association Mortgage Delinquencies National Delinquency Survey 2018-05-17 David Wharton As we approach hurricane season again, the impact of last year’s damaging storms are still being felt in the form of elevated 90+ day delinquency rates in some affected communities. According to the Mortgage Bankers Association’s (MBA) National Delinquency Survey, four out of the top five states with the highest 90+ day delinquency rates in Q1 2018 were impacted by the hurricanes. Those states include Florida, Mississippi, Louisiana, and Texas. But how did the rest of the nation fair in Q1?The National Delinquency Survey reports that “the delinquency rate for mortgage loans on one-to-four-unit residential properties fell to a seasonally-adjusted rate of 4.63 percent of all loans outstanding at the end of the first quarter of 2018.” The delinquency rate dropped 54 basis points quarter-over-quarter, and also stood at eight basis points lower than a year prior.”The strong economy, low unemployment rate, tax refunds and bonuses, and home price appreciation were key factors that helped push delinquencies down in the first quarter,” said Marina Walsh, MBA’s VP of Industry Analysis. “Of course, there are offsetting factors that may put upward pressure on delinquency rates in future quarters, including: a difficult recovery for some borrowers in hurricane-impacted states; the aging of loan portfolios; higher interest rates that limit a borrower’s rate-term refinance options; higher energy prices; stretching of housing affordability given limited supply; and the easing of credit overlays as mortgage market conditions have changed.”The FHA delinquency rate declined by 136 basis quarter-over-quarter, marking the largest single-quarter decline reported for the National Delinquency Survey data series. The overall mortgage delinquency rate increased by 93 basis points for FHA loans, dropped by 26 basis points for conventional loans, and increased 42 basis points for VA loans.The report also found mortgage delinquencies decreasing across all stages of delinquency during Q1. Thirty-day delinquencies dropped by 27 basis points quarter-over-quarter, 60-day delinquencies dropped by 9 basis points, and 90-day delinquency dropped by 18 basis points.The foreclosure inventory rate hit a low not experienced since Q3 2006. The percentage of loans in the foreclosure process at the end of Q1 was 1.16 percent, down 3 basis points from Q4 2017. The rate is also 23 basis points lower year-over-year.To read the full MBA National Delinquency Survey, click here. Demand Propels Home Prices Upward 2 days ago Share Save Q1 Mortgage Delinquency Snapshot Previous: The Hypervacancy Problem in American Cities Next: Home Flipping on the Rise as House Prices Soar David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Home / Daily Dose / Q1 Mortgage Delinquency Snapshot Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: MBA Mortgage Bankers Association Mortgage Delinquencies National Delinquency Survey Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Foreclosure, Journal, News, Servicing The Best Markets For Residential Property Investors 2 days ago Subscribe About Author: David Wharton Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago May 17, 2018 3,593 Views Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Flip-Flop: Cities with the Biggest Changes in Rent

first_img Apartment List Homeownership Inventory rents 2018-07-02 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Apartment List Homeownership Inventory rents Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Rents are increasing, just at a slower pace. While rents from June 2014 to 2015 increased at a pace of 3.6 percent nationally, the growth slowed down in each of the subsequent years, according to a study by Apartment List, which analyzed rent growth rates from 2015 to 2018 to see which cities had seen the biggest changes in rents.By 2018, the study found, national year-over-year rent stood at 1.5 percent—less than half the rate from 2015. Partially attributing this slowdown in rent growth to an increasing supply of new rental inventory in many markets, the study said that while new single-family home construction continued to lag, “spending on new multi-family housing, most of which are rental properties, is close to its pre-recession peak.”Despite a lack of for-sale inventory homeownership rate has begun to increase for the first time in a decade, leading to a decline in the number of renter households, the study indicated. Breaking up the data at a city-level, the study found that while new inventory had slowed down the growth of rents in Seattle, Hurricane Harvey had led to a sharp increase of rents in Houston—two cities, that Apartment List found had the largest change in rent growth between 2015 and 2018.In 2015, Seattle had registered a 5.9 percent growth in rents, which grew to 6.7 percent in 2016. In 2017, the Emerald City led the top 25 list of cities in terms of rent growths. But in 2018, Apartment List found that rents in Seattle had dropped 0.9 percent taking it to the bottom of the list, just above Baltimore, Pittsburgh, and Portland.Houston, on the other hand, had registered a middle-of-the-road growth of 4.3 percent in 2015, which had dipped further to a growth of 0.8 percent in 2016. In June 2017 Houston was at the bottom of the top 25 list registering a 2.8 percent fall in rent growth. In 2018 though, the city was ranked second among the top 25 with a growth of 3.4 percent, with Tampa, Florida leading the chart with a 4.6 percent growth in rents.According to the study, Houston was a unique example. “Before Harvey, Houston had one of the nation’s highest vacancy rates, but now suffers from a shortage of available rental units,” the study said. “Although many landlords froze rents in the immediate aftermath of Harvey, our data show a sharp spike in rents in Houston through the winter months, a time when rent prices normally fall. More recently prices seem to have stabilized.”To see the complete list of Apartment List’s city-based rent change rankings, click here. The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: The Housing Market Remains Healthy … For Now Next: The Impact of Credit Easing on Homebuyers Flip-Flop: Cities with the Biggest Changes in Rent Home / Daily Dose / Flip-Flop: Cities with the Biggest Changes in Rent  Print This Post Demand Propels Home Prices Upward 2 days agocenter_img July 2, 2018 1,460 Views Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Radhika Ojha Related Articles Sign up for DS News Daily in Daily Dose, Featured, Market Studies, News Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Helping Americans Keep Their Homes

first_img Following up on research published last year stating that housing counseling has a positive impact for homebuyers, homeowners, and renters, the U.S. Department of Housing and Urban Development (HUD) has awarded $47 million in housing counseling grants to assist 1 million families in keeping their current homes, locating new ones, and making informed choices.National and regional agencies will be distributing HUD’s housing counseling grant funding to community-based organizations known primarily for working with low- and moderate-income families. The largest among these organizations are also tasked with improving the quality of counseling services for those either looking to buy or rent a home.Thirty-one national and regional organizations, six organizations working across stateliness, 19 State Housing Finance Agencies (SHFAs), and 207 local housing counseling agencies are the key recipients of these grants. HUD will award $3.5 million to four national organizations so they can train and certify more housing counselors.“HUD-approved housing counselors are on the front lines,” said HUD Secretary Ben Carson. “Their efforts give families a real opportunity to realize their dream of owning a home is obtainable by offering advice on affordable rental housing, home financing, and tools to prevent foreclosure.”Grant recipients address the entirety of families’ housing counseling needs. These include helping homebuyers: assess their readiness to enter the market; understand their financing and down payment options; as well as navigate a process that for many is confusing or overwhelming. The organizations also assist families in finding affordable rental housing, offering financial literacy courses to those with bad credit affecting their ability to secure a mortgage and purchase a home. They also help the homeless in transitional housing as well as finding a permanent place of residence.The counseling services also assist homeowners in reviewing loan documentation, helping them avoid fraudulent mortgage practices, overblown interest rates, inflated appraisals, impractical repayment terms, and anything else that might cause a  loss of equity, increased debt, default, or foreclosure. Likewise, counseling in the prevention of foreclosure is another of their specialties.While the funding is meant to reach all fifty states, certain areas stand to receive the most assistance in terms of dollars—but none more so than Washington D.C., which is to receive over $7 million of the total $47 million. States like New York and California will also receive more than $3 million, but other states that stand to benefit the most are Pennsylvania ($4.1 million), Massachusetts ($3.5 million), Michigan ($3.2 million), and Virginia ($2.349 million).To read HUD’s research on housing counseling, click here. Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Helping Americans Keep Their Homes default Foreclosures Grant Home Homebuyers Homeowners HOUSING HUD 2018-10-11 Radhika Ojha Previous: Delving Into Consumers’ Minds Next: What Is Impacting Appraisal Values? Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: default Foreclosures Grant Home Homebuyers Homeowners HOUSING HUD  Print This Post The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Staff Writer Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily October 11, 2018 1,383 Views Helping Americans Keep Their Homes The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Related Articles Subscribelast_img read more

FHFA Memo Cites “Performance Challenges”

first_imgSign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago FHFA Memo Cites “Performance Challenges” Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Fannie Mae FHFA FHL Banks Freddie Mac GSEs Housing Market Mortgage Industry 2018-10-19 Staff Writer Share Save Servicers Navigate the Post-Pandemic World 2 days ago Previous: How Technology is Bringing Buyers and Sellers Closer Next: DocMagic and Secure Insight Partner for eMortgage Education Module Laura S. Wertheimer, Inspector General at the FHFA, has released a memo that identifies “four serious management and performance challenges” that the agency faces in its role as a regulator and supervisor of the government-sponsored enterprises (GSEs). The memo was addressed to Melvin L. Watt, Director of the FHFA, but can be read in its entirety here.The first challenge Wertheimer draws focus to is the agency’s inability to improve oversight of both GSEs while strengthening internal review processes for non-delegated matters. Wertheimer’s memo expresses concern about FHFA’s “limited” oversight, which she states is largely limited to attending internal management and board meetings with the GSEs. She believes FHFA has not considered “the reasonableness of Enterprise actions pursuant to delegated authority, including actions taken by the Enterprises to implement conservatorship directives.” Part of the issue, she claims, is that FHFA has not “clearly defined” its expectations, nor established any standard to which Fannie Mae or Freddie Mac must be held accountable.The second concern enumerated by Wertheimer follows logically on her first: upgrading supervision of the GSEs and Federal Home Loan (FHL) banks. The FHFA splits the responsibility of supervising the GSEs and FHL banks between the Division of Enterprise Regulation (DER) and the Division of Federal Home Loan Bank Regulation (DBR), respectively.  She places particular emphasis on DER’s lack of resources in ensuring the GSEs are not engaging in risky behavior, as well as the FHFA’s lack of consistency in enforcing supervisory practices.The third challenge Wertheimer lays out involves oversight in cybersecurity, ensuring an effective information security system will protect the highly sensitive data gathered by the GSEs on borrowers. Wertheimer calls for greater cybersecurity oversight so as to reduce operational risk and ensure the GSEs update their systems.Lastly, Wertheimer states that oversight must be enhanced not only over the GSEs, but also the GSE’s “Relationships with Counterparties and Third Parties.” She discusses how both Fannie Mae and Freddie Mac are in no small part reliant on third parties for “a wide array of professional services, including mortgage origination and servicing.” Stating that the FHFA has mostly delegated the management of these third parties to the GSEs themselves, she believes this exposes them to additional risks such as fraudulent conduct or a failure to meet contractual obligations.Wertheimer believes they can be addressed via “the development and implementation of, and compliance with, effective internal controls within the Agency.”Editor’s Note: FHFA has been contacted for further comment but has not yet responded at this time.  October 19, 2018 2,089 Views Home / Daily Dose / FHFA Memo Cites “Performance Challenges” The Best Markets For Residential Property Investors 2 days ago Related Articles Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Staff Writer The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Fannie Mae FHFA FHL Banks Freddie Mac GSEs Housing Market Mortgage Industry Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Q3 Built-for-Rent Volumes Slip

first_img Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago HOUSING Rental 2019-11-27 Seth Welborn Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Q3 Rental Volumes Slip Next: How Housing is “Standing Firm” Share Save Home / Daily Dose / Q3 Built-for-Rent Volumes Slip Related Articles The number of single-family homes built-for-rent posted a small decline during third quarter of 2019, according to the National Association of Homebuilders (NAHB). This market has received recent attention as a means to add single-family inventory amid concerns over housing affordability and downpayment requirements in the for-sale market.According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were 11,000 single-family built-for-rent starts for the third quarter of 2019. This is lower than the 14,000 estimated for the third quarter of 2018 however. Over the last four quarters, 41,000 such homes began construction, which is lower than the 45,000 estimated SFBFR starts for the four quarters prior to that period.Given the small size of this market segment, the NAHB notes that the quarter-to-quarter movements typically are not statistically significant. The current four-quarter moving average of market share (4.5%) remains higher than the recent historical average of 2.7% (1992-2012) but is down from the 5.8% reading registered at the start of 2013. As measured for this analysis, this class of single-family construction excludes homes that are sold to another party for rental purposes, which NAHB estimates may represent another two percent of single-family starts. The estimates in this post only include homes built and held for rental purposes.With the onset of the Great Recession and declines in the homeownership rate, the share of built-for-rent homes increased. Despite the current elevated market concentration, the total number of single-family starts built-for-rent remains small in terms of the total size of the building market. Howeer, a new study from Cornell authored by Suzanne Lanyi Charles, assistant professor of city and regional planning, identified how these rental trends impact housing, from more unaffordable housing and household instability to increased rents and evictions, depressed house prices and deferred maintenance.“Single-family rental housing is an increasingly prevalent form of housing tenure in U.S. suburban neighborhoods, representing a paradigm shift in how households gain access to a suburban single-family home,” Charles wrote.Charles notes that in an attempt to stabilize neighborhoods hit hard in 2008, foreclosed single-family houses were sold off in bulk to large corporations. Increases in suburban single-family rental housing may provide households access to neighborhoods that are otherwise off-limits to renters, Charles said, but the reverse is also true.Charles notes that while policymakers including Democratic presidential candidate Elizabeth Warren have proposed legislation limiting large-scale institutional investment in single-family rental housing.center_img Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Q3 Built-for-Rent Volumes Slip Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago November 27, 2019 550 Views Tagged with: HOUSING Rentallast_img read more

$75 Billion in Flood Damages Linked to Climate Shifts

first_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: climate change flooding housing development Research Stanford University Share Save January 13, 2021 798 Views A new study authored by researchers at Stanford University has determined that increased precipitation created by increased global temperatures have contributed to one-third of the financial costs of flooding in the U.S. over the past three decades.The study, published in the journal Proceedings of the National Academy of Sciences, estimated that nearly $75 billion of the $199 billion in flood damages that occurred between 1988 and 2017 was the result of dramatic changes to the global climate. The Stanford researchers used climate and socioeconomic data for their study to determine if the increase in flooding was being driven primarily by climate change or by other ground-level factors including population growth, housing development, and increasing property values.“The fact that extreme precipitation has been increasing and will likely increase in the future is well known, but what effect that has had on financial damages has been uncertain,” said Frances Davenport, a PhD student in Earth system science at Stanford’s School of Earth, Energy & Environmental Sciences and the lead author of the study. “Our analysis allows us to isolate how much of those changes in precipitation translate to changes in the cost of flooding, both now and in the future.”The research team concluded that changes in precipitation accounted for 36% of the actual flooding costs that occurred during the three-decade period measured in their study, which also developed an economic model based on precipitation and flood damage reports. The study also created a model to calculate what the potential economic impacts that could have transpired if extreme precipitation changes never occurred.“What we find is that, even in states where the long-term mean precipitation hasn’t changed, in most cases the wettest events have intensified, increasing the financial damages relative to what would have occurred without the changes in precipitation,” said Davenport.“Accurately and comprehensively tallying the past and future costs of climate change is key to making good policy decisions,” said Burke. “This work shows that past climate change has already cost the U.S. economy billions of dollars, just due to flood damages alone.” Added Marshall Burke, an associate professor of Earth system science and the study’s co-author. Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Out-of-State Relocations for Retirees at Five-Year High Next: Best in Legal Guide: Spina & Lavelle PC Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post $75 Billion in Flood Damages Linked to Climate Shifts Home / Daily Dose / $75 Billion in Flood Damages Linked to Climate Shifts The Best Markets For Residential Property Investors 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles About Author: Phil Hall climate change flooding housing development Research Stanford University 2021-01-13 Phil Hall Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Headlines, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

Highland’s Farming News – Thursday 6th October

first_img Previous articleMalin Head Coastguard coordinates successful long range rescue missionNext articleSeamus Coleman scores for the first time to give Ireland victory admin Google+ Nine Til Noon Show – Listen back to Wednesday’s Programme Twitter Facebook WhatsApp NPHET ‘positive’ on easing restrictions – Donnelly News, Sport and Obituaries on Wednesday May 26th NewsPlayback Google+ Pinterest Pinterestcenter_img A 15 Minute Programme presented by Chris Ashmore every Thursday at 7.05pm highlighting all that’s happening in the farming community.Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/10/Farming10.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. WhatsApp Highland’s Farming News – Thursday 6th October Help sought in search for missing 27 year old in Letterkenny RELATED ARTICLESMORE FROM AUTHOR Facebook Twitter Three factors driving Donegal housing market – Robinson By admin – October 6, 2016 Calls for maternity restrictions to be lifted at LUHlast_img read more

Dempsey says NRA capital speculation is premature

first_img Google+ Facebook Three factors driving Donegal housing market – Robinson Twitter WhatsApp Newsx Adverts Pinterest Calls for maternity restrictions to be lifted at LUH By News Highland – July 7, 2010 Dempsey says NRA capital speculation is premature Guidelines for reopening of hospitality sector published LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton center_img Facebook WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this week The Transport Minister says he’s ‘mystified’ at reports that the National Roads Authority has run out of money for its capital programme.It’s been reported that the NRA doesn’t have the funds to build 40 roads including bypasses and dual carriageways. Yesterday’s reports suggested that at least five road projects would be suspended in Donegal, leading Mayor Cora Harvey to say she’ll be seeking urgent meetings with the minister and the NRAHowever, Mr Dempsey says the authority has 1.1 billion euro to spend this year and that the Government is yet to announce its future funding commitments……..[podcast]http://www.highlandradio.com/wp-content/uploads/2010/07/noeld530.mp3[/podcast] RELATED ARTICLESMORE FROM AUTHOR Twitter Previous articleHSE West facing €90 million budget overrunNext articleLargo Foods ballot extended until tomorrow afternoon News Highland Google+ Pinterest NPHET ‘positive’ on easing restrictions – Donnelly last_img read more