Category: Market
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High-Price Deal: Blackstone Buys Chicago’s Willis Tower
Blackstone Group, a private equity firm, is set to purchase the Willis Tower in Chicago—formerly known as the Sears Tower—for $1.3 billion. Excluding New York, the record-breaking price is the highest amount that has been paid for an office tower within the United States.
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Major Supreme Court Decision to Affect Mortgage Industry
In a unanimous decision on Monday, the Supreme Court held that the Department of Labor does not have to adhere to notice-and-comment procedures as outlined in the Administrative Procedures Act (APA). Perez v. Mortgage Bankers Association was the landmark case that allowed the Justices to come to this decision.
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Expanded NY Legislation to Hinder “Zombie Properties”
New York Attorney General Eric Schneiderman announced on Monday his plan to resubmit an expanded bill that would hinder the proliferation of ‘zombie properties.’ The term ‘zombie properties’ refers to properties that have been abandoned by their owners, most often because of foreclosure, and are in disrepair.
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Expanded NY Legislation to Hinder "Zombie Properties"
New York Attorney General Eric Schneiderman announced on Monday his plan to resubmit an expanded bill that would hinder the proliferation of ‘zombie properties.’ The term ‘zombie properties’ refers to properties that have been abandoned by their owners, most often because of foreclosure, and are in disrepair.
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HUD Secretary Castro’s Testimony before the House Financial Services Committee Ignites Opposition
Earlier this week, we blogged about the upcoming House Financial Services Committee hearing featuring U.S. Department of Housing and Urban Development (HUD) Secretary Julian Castro. The hearing, titled The Future of Housing in America: Oversight of the Federal Housing Administration, was directed towards the financial status of the Federal Housing Administration (FHA), the condition of…
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HUD Secretary Castro's Testimony before the House Financial Services Committee Ignites Opposition
Earlier this week, we blogged about the upcoming House Financial Services Committee hearing featuring U.S. Department of Housing and Urban Development (HUD) Secretary Julian Castro. The hearing, titled The Future of Housing in America: Oversight of the Federal Housing Administration, was directed towards the financial status of the Federal Housing Administration (FHA), the condition of…
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Freddie Mac Auctioning $410 Million of Delinquent Inventory
In a move to reduce illiquid assets, Freddie Mac is auctioning $410 million of delinquent mortgage loans. The Government-Sponsored Enterprise (GSE) recently concluded the offer period for the major sale. This latest auction of Freddie Mac’s inventory marks the second time the GSE has held a major auction to clean its portfolio.
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Consumer Housing Optimism on the Rise
After a disappointing summer, it looks like consumers had a change of heart when it comes to how they feel about housing and the economy. Americans are more optimistic about the housing market with some saying it is a good time to buy a home, according to a recent Fannie Mae September 2014 National Housing…
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Rule Tomorrow by Embracing Technology Today
A day is made up of seconds, minutes, and hours. Today means yesterday is forever gone. It’s the most fundamental part of life and entirely up to us, as real estate professionals, to determine what we do with the amount we’ve been given. Real estate technology innovators are pioneering new ways for us to be…
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Policy Prescriptions to Assist Women Entrepreneurs
Does the name Alice Paul ring a bell? Alice Paul led the effort to give women the right to vote. She raised money for the cause, led a group of White House protesters known as the Silent Sentinels, was imprisoned three times, force-fed raw eggs when she staged a hunger strike, and kept the pressure…