Real Estate News 05/05/2025

Today’s News Synopsis:

In The News:

NPR – “Trump Budget Proposes 40% Cut to Federal Rental Aid, Shifts Oversight to States” (05-02-25)

“The proposed White House budget calls for cutting Housing and Urban Development rental aid and sending that smaller pot of money to states “to design their own rental assistance programs based on their unique needs and preferences.” The plan also would impose a two-year cap on rental assistance for able-bodied adults.“

Los Angeles Daily News – “U.S. home sales tumble to a 10-year low“ (05-01-2025)

“February’s median U.S. sales price of $352,000 for all residences was the ninth-highest on record and doubled in 10 years. It’s just 4% below the all-time high of $365,000 in June 2024.”

Realtor.com –  “Baby Boomers and Gen X Are Flocking to the Hottest Housing Markets“ (04-30-25)

“The top U.S. housing markets are aging due to the fact that older Americans have more money to spend on home purchases in those in-demand areas compared to their younger, less-affluent counterparts.”

Inquirer.net- “US Fed expected to pause rate cuts again, await clarity on tariffs” (05-05-25)

“The US Federal Reserve is widely expected to extend a recent pause in rate cuts this week as it waits to see how President Donald Trump’s stop-start tariff rollout affects the health of the world’s largest economy.”

National Mortgage News –  “Freddie Mac expands repurchase alternative technology“ (04-30-25)

“Freddie Mac has updated its online platform to provide more transparency into a new and immediate way to resolve responsibilities for certain loan information covered by lender representations and warranties when that data is flawed.”