Today’s News Synopsis:

The NAHB reported growth in the housing market for the 55 and up age group, growth they expect to see continue.  26,000 foreclosures were completed in November according to CoreLogic’s November foreclosure report.  The NAHB also reported single-family production will continue to grow in the coming year with the stronger economy, employment, and households.

In The News:

NAHB – “55+ Housing Market Shows Continued Growth” (1-10-17)

“The 55+ housing market is expected to keep on its path of growth, according to industry experts at a press conference held today at the National Association of Home Builders (NAHB) International Builders’ Show (IBS) in Orlando, Fla.”

Bloomberg – “Trump Tax Cuts Could Jump-Start Global Economy, World Bank Says” (1-10-17)

“President-elect Donald Trump’s tax cuts and spending plans could deliver a shot in the arm to the U.S. economy, lifting growth around the world, although uncertainty about his trade policies adds to the risks, according to the World Bank.”

CoreLogic – “CoreLogic Reports 26,000 Completed Foreclosures in November 2016” (1-10-17)

“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its November 2016 National Foreclosure Report which shows the foreclosure inventory declined by 30 percent and completed foreclosures declined by 25.9 percent compared with November 2015.”

Tech.co – “Real Estate Tech Is Opening Up New Markets” (1-10-17)

“Real estate isn’t typically considered a tech-filled field. Most of the changes faced by this industry have been in financing and demand, with technology being an afterthought of traditional practices. .”

NAHB – “Housing Will Continue Gradual Climb to Higher Ground in 2017” (1-10-17)

“Fueled by a growing economy, solid employment gains and rising household formations, single-family production will continue on a gradual, upward trajectory in 2017, according to economists speaking at the National Association of Home Builders (NAHB) International Builders’ Show in Orlando, Fla., today.”

Bloomberg – “The Old American Stock Exchange’s Trading Floor to Finally Shut” (1-10-17)

“The decades-long purge of exchange trading floors just found another victim.  NYSE MKT, the New York Stock Exchange’s tiny sibling that has a history stretching back to the 19th century, will close its trading floor for stocks in the second quarter, according to a regulatory filing.”

Los Angeles Times – “Los Angeles County saw nearly $20 billion in real estate sales in 2016” (1-10-17)

“Los Angeles’ record year of real estate included more than just two $100-million sales. Last year, L.A. County saw $19.8 billion in sales volume, a 7% increase from November 2015 through November 2016, according to the Multiple Listing Service.”

DS News – “KBRA: Don’t Remove Government Backing from Mortgages” (1-10-17)

“Nearly every stakeholder on both sides of the political aisle agrees that the government’s eight-years-long-and-counting conservatorship of Fannie Mae and Freddie Mac should end. They just can’t agree on how it should end.”