Today’s News Synopsis:

Black Knight Financial just released their latest home price index for July 2016, showing the home price index value for the nation increased 0.4% month-over-month and 5.3% year-over-year.  More and more millennials could have better job opportunities with the increase in workers needed for home construction.  Stocks declined today, while real estate seemed to decrease drastically at 1.8%.

In The News:

Inman – “Black Knight LA home price index for July 2016” (10-3-16)

“Black Knight Financial Services released its July 2016 home price index data for Los Angeles, based on summarized sales data — here’s how the metro measured up.”

NAHB – “Growing Job Opportunities in Residential Construction Offer Solid Career Path for Millennials” (10-3-16)

“As the National Association of Home Builders (NAHB) celebrates Careers in Construction Month in October, builders around the country are seeking skilled craftsmen to help them build the American Dream.”

CNBC – “Stocks close lower after US economic date; real estate lags” (10-3-16)

“U.S. stocks closed lower on Monday, the first trading day of the fourth quarter, as investors digested key economic news and kept an eye on oil prices”

DS News – “FHFA Announces Fiscal Goals for 2017” (10-3-16)

“The Federal Housing Finance Agency (FHFA)’s strategic goals for Fiscal Year 2017 include ensuring safe and sound regulated entities, ensuring liquidity, stability, and access in housing finance, and managing the Enterprises’ ongoing conservatorships, according to the agency’s FY2017 Annual Performance Plan (APP) released Monday.”

Bloomberg – “Fed’s Mester Says Case for November Hike Will Likely Be Strong” (10-3-16)

“Federal Reserve Bank of Cleveland President Loretta Mester said the economy is ripe for an interest-rate increase and repeated that the Fed’s November meeting should be viewed as “live” for a policy decision, despite its proximity to the U.S. presidential election.”

New York Times – “Scrutiny of Commercial Real Estate Loans Chills Small Lenders” (10-3-16)

“Financing commercial property has been local banks’ bread-and-butter business for years, but a postcrisis push for loan growth prompted regulatory warnings about lax lending standards, and small banks are now shying away from the market”

CNBC – “Check Out the US’ Great Neighborhoods” (10-3-16)

“Of course, what makes a place “great” is subjective.  The American Planning Association is out with its 2016 list of “great neighborhoods,” chosen through an applications process.”