Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup.  According to the latest survey from Freddie Mac, a lot of the decisions the clients of mortgage lenders make are influenced by real estate professionals.  Pay increases are finally happening as more Americans are returning to work.  Plywood is no longer allowed to be used on pre-foreclosure properties according to Fannie Mae’s latest ruling.

In The News:

Inman – “What’s the next big thing for Zillow Group?” (11-4-16)

“Eighteen months ago, Zillow was like the Chicago Cubs when the baseball team was down three games to one in the World Series.”

Bloomberg – “Payrolls in U.S. Rise 161,000 in October as Wages Accelerate” (11-4-16)

“U.S. jobs continued to rise at a steady pace in October and wage gains accelerated, signs that the labor market and economy made steady progress at the start of the fourth quarter.”

DS News – “Game Changer: Fannie Mae Bans the Use of Plywood on Pre-Foreclosure Properties” (11-4-16)

“The progress that clear boarding has made over the last few years when it comes to replacing plywood as the go-to method for securing vacant homes has been steadily picking up steam.”

San Diego Union-Tribune – “‘Double-header’ recovery ahead, says real estate center” (11-4-16)

“The economic recovery, now 88 months old, may experience a “double header” in real estate rather than a cyclical downturn.”

Bloomberg – “Tight U.S. Job Market Finally Delivers as Pay Accelerates” (11-4-16)

“Millions of Americans have gone back to work since the last recession. Now they’re finally getting some decent pay raises.”

Freddie Mac – “Real Estate Professionals Influence Clients’ Mortgage Lender Choice: Freddie Mac Survey” (11-4-16)

“Most real estate professionals refer clients to a select group of lenders and they choose those companies based on the ease of doing business with them, their reputations, and the strength of those relationships, according to a survey commissioned by Freddie Mac (OTCQB: FMCC).”

Bloomberg – “U.S. Stocks Post Longest Slide Since 1980, Bonds Rise Amid Angst” (11-4-16)

“U.S. stocks posted their longest slide since 1980, while Treasuries rallied after data showing progress in the American labor market did little to soothe anxiety over the presidential election. Oil slumped.”