Category Archives: Real Estate Law

Topics that are of interest to the real estate community, with an emphasis on commercial, industrial, or multi-dwelling units.

Sales of Previously Owned U.S. Homes Picked up in July

Wall Street Journal writers Will Parker and Harriet Torry reported this week that, “Sales of previously owned U.S. homes picked up in July, a sign that lower mortgage rates may be finally starting to drive sales after a weak spring selling season. “July marked the first year-over-year uptick in 17 months and economists have been… Continue Reading

Posted in Real Estate Law | Comments closed

U.S. Mortgage Debt Reached a Record in the Second Quarter

Harriet Torry reported in today’s Wall Street Journal that, “U.S. mortgage debt reached a record in the second quarter, exceeding its 2008 peak as the financial crisis unfolded. “Mortgage balances rose by $162 billion in the second quarter to $9.406 trillion, surpassing the high of $9.294 trillion in the third quarter of 2008, the Federal… Continue Reading

Posted in Real Estate Law | Comments closed

Mortgage Rates Sink to 3-Year Low

Diana Olick reported earlier this week at CNBC Online that, “Escalating tensions over a trade war with China sent investors rushing to the relative safety of the bond market late last week. That pushed the yield on the 10-year Treasury, which mortgage rates loosely follow, down sharply. “The average rate on the popular 30-year fixed… Continue Reading

Posted in Real Estate Law | Comments closed

No Sign Changes in Mortgage-Interest Deduction Has Brought Down Home Prices

New York Times writers Jim Tankersley and Ben Casselman reported yesterday that, “The mortgage-interest deduction, a beloved tax break bound tightly to the American dream of homeownership, once seemed politically invincible. Then it nearly vanished in middle-class neighborhoods across the country, and it appears that hardly anyone noticed. “In places like Plainfield, a southwestern outpost… Continue Reading

Posted in Real Estate Law | Comments closed

So Far, Lower Interest Rates Not Reviving Housing Market

Justin Lahart reported this week at The Wall Street Journal Online that, “Lower interest rates were supposed to breathe new life into the housing market. But so far there are few signs of a real-estate revival. “Thanks in large part to the Federal Reserve’s dovish turn this year, mortgages have rarely been so cheap. As… Continue Reading

Posted in Real Estate Law | Comments closed

On Falling Mortgage Rates, Sales of Previously Owned Homes Rose in May

Wall Street Journal writer Laura Kusisto reported today that, “Sales of previously owned homes rose in May, a sign that falling mortgage rates could be nudging the housing market toward a modest spring performance after a sluggish start to this prime selling season. “Sales rose 2.5% in May from the prior month to a seasonally adjusted… Continue Reading

Posted in Real Estate Law | Comments closed

Increased Safeguards for Tenants in New York, Come as Other State Legislatures Consider Limiting Rent Increases

Last week, Wall Street Journal writers Will Parker and Jimmy Vielkind reported that, “In passing a sweeping overhaul of rent laws on Friday, New York state lawmakers gave a boost to a movement among state capitals to try to address rental-housing affordability. “The New York legislation brings increased power to tenants in roughly one million… Continue Reading

Posted in Real Estate Law | Comments closed

Lenders Offering Fewer Mortgages for Cheaper Properties

Last week, Wall Street Journal writer Ben Eisen reported that, “Some low- and middle-income home buyers are having a hard time getting mortgages for an unexpected reason: The loans they’re applying for are too small. “Lenders extended about 106,000 mortgages with balances between $10,000 and $70,000 in the U.S. last year, worth $5.1 billion. That… Continue Reading

Posted in Real Estate Law | Comments closed

New Crop of Home Flippers Encounter First Slowdown

Bloomberg writer Prashant Gopal reported today that, “Sean Pan wanted to be rich, and his day job as an aeronautical engineer wasn’t cutting it. So at 27 he started a side gig flipping houses in the booming San Francisco Bay Area. He was hooked after making $300,000 on his first deal. That was two years… Continue Reading

Posted in Real Estate Law | Comments closed

Homeownership Rate Dips in the First Quarter

Wall Street Journal writer Laura Kusisto reported recently that, “The U.S. homeownership rate fell for the first time in more than two years in the first quarter, putting the brakes on the recovery of an important piece of the economy. “The homeownership rate fell to 64.2% in the first quarter from 64.8% in the fourth… Continue Reading

Posted in Real Estate Law | Comments closed