Today’s News Synopsis:

The House Financial Services Committee held another hearing today regarding their report they submitted back in June on threats and vulnerabilities in the market.  Janet Yellen said yesterday the job market is looking better, although labor flows data seems to show a lack of stability with employment.  WalletHub just released their analysis covering 150 cities regarding where people may consider buying a home because it is considered a “fun” city.

In The News:

Fannie Mae – “Fannie Mae Announces Two Credit Insurance Risk Transfer Transactions on $14.4 Billion of Single-Family Loans” (9-21-16)

“Fannie Mae (FNMA/OTC) announced today that it has completed two Credit Insurance Risk Transfer^™ (CIRT^™) transactions worth $14.4 billion, as part of an ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market.”

ETF Daily News – “Has the Real Estate Sector Finally Topped?” (9-22-16)

“From The Sovereign Investor: A big recent decision by Standard & Poor’s could be the final definitive signal that the Real Estate sector has reached its peak.”

NAHB – “NAHB Commends Sen. Wyden’s New Middle-Income Housing Tax Credit” (9-22-16)

“The National Association of Home Builders (NAHB) today commended Sen. Ron Wyden (D-Ore.) for introducing the Middle-Income Housing Tax Credit Act of 2016. The legislation builds on the successful Low-Income Housing Tax Credit (LIHTC) by creating a new tax credit to spur the development of rental homes affordable to Americans with moderate incomes.”

 

Inman – “Where does your town rank on WalletHub’s funnest cities in the country?” (9-22-16)

“Fun: it’s a a broad term, but something everyone wants. Few, if any, homebuyers look at map and say, ‘I want to move somewhere boring.'”

Investor’s Business Daily – “Unearth ‘Hidden Gems’ With Rich Yields In The New Real Estate Sector” (9-22-16)

“Investing in real estate may help to build a strong foundation in your investment portfolio. These securities diversify portfolios, generate income and hold potential for capital growth — a trifecta of benefits for ETF investors.”

Bloomberg – “Here’s What Janet Yellen Has Wrong About the Job Market” (9-22-16)

“Janet Yellen might want to take another look at what’s happening to the labor market.  Speaking after Wednesday’s Federal Reserve decision to keep interest rates on hold, the Fed chair said steady job growth is attracting people back from the sidelines of the labor force, causing unemployment and other measures of labor utilization to stabilize.”

DS News – “House Financial Services Committee Holds FSOC Hearing” (9-22-16)

“On June 21, 2016, the FSOC submitted its sixth 2016 annual report to Congress. The report’s findings and recommendations are organized around what the FSOC identifies as ‘key potential emerging threats and vulnerabilities'”

 

 

Bruce Norris will be presenting Stay Put, Cash Out, Or Change Seats? with InvestClub for Women and Robert Hall & Associates on September 28.

Bruce Norris will be presenting Cashing In On a Boom: Investing in Quadrant 4 at the Back Bay Conference Center on Saturday, October 8.

Bruce Norris of The Norris Group will be presenting the 9th annual I Survived Real Estate 2016 on Friday, October 21.

Image copyright source: www.flickr.com/photos/44313045@N08

 

Looking Back:

Allan Weiss of Weiss Residential Research reported three times as many homes were losing their value over the previous year, while those gaining value decreased by over 12%.  Mortgage risk increased the previous month by 1.3% year-over-year, putting it at 15.55%.  Meanwhile, debt for multifamily mortgages stood at $1 trillion with the continued increase in commercial-multifamily mortgage debt.

 

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.