American politician from Maryland
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Columbia County's 4th District Commissioner Alison Couch is retiring...but she wants to move UP and not OUT. Couch is announcing her candidacy for the Commission Chairmanship currently held by Doug Duncan, who is serving out his final term. She stopped in to discuss her plans with Austin...
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Columbia County Commissioner Doug Duncan called in to discuss today's bad news from FEMA
GA House Bill 581 has everyone in a tizzy! Columbia County Commission Chairman Doug Duncan was on with us this week to set the record straight on where he stands on it, and the county's options.
On today's show we are looking at a new multi-family research report published two weeks ago by the folks at Fannie Mae. Dr. Doug Duncan is the chief economist at Fannie Mae where he leads a team of economists. This group has consistently achieved accolades for having some of the best research in the business. This particular report was authored by Nathaniel Decker who is a Lead associate in the research department. ------------ **Real Estate Espresso Podcast:** Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1) iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613) Website: [www.victorjm.com](http://www.victorjm.com) LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce) YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734) Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso) Email: [podcast@victorjm.com](mailto:podcast@victorjm.com) **Y Street Capital:** Website: [www.ystreetcapital.com](http://www.ystreetcapital.com) Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital) Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)
Today's podcast is sponsored by Candor. Candor's authentic Expert System AI has powered more than 2 million flawless, hands off underwrites. Every credit risk decision Candor makes is backed by a Warranty, eliminating repurchase worries.
Douglas G. Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Duncan also oversees strategic research regarding the potential impact of external factors on the housing industry. He leads the House Price Forecast Working Group reporting to the Finance Committee. Named one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate, Duncan is Fannie Mae's source for information and analyses on demographics and the external business and economic environment; the implications of changes in economic activity on the company's strategy and execution; and for forecasting overall housing, economic, and mortgage market activity.Prior to joining Fannie Mae, Duncan was Senior Vice President and Chief Economist at the Mortgage Bankers Association. In this episode: Housing market trends, focusing on analysis of mortgage rates for Generation XRise of insurance costMigration and ImmigrationGen Xers ability to afford housingHow the 2024 U.S. Presidential Election May Impact Real EstateThe Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show
Douglas G. Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Duncan also oversees strategic research regarding the potential impact of external factors on the housing industry. He leads the House Price Forecast Working Group reporting to the Finance Committee. Named one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate, Duncan is Fannie Mae's source for information and analyses on demographics and the external business and economic environment; the implications of changes in economic activity on the company's strategy and execution; and for forecasting overall housing, economic, and mortgage market activity.Prior to joining Fannie Mae, Duncan was Senior Vice President and Chief Economist at the Mortgage Bankers Association. In this episode:Fannie Mae's role as an insurance company for mortgagesWhat are the housing market drivers?Housing market trends and consumer sentimentFederal Reserve's role in regulating banks and controlling inflationFed's inflation target, debt, and monetary policyThe Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show
On today's show we are taking a look at a report that was published by Fannie Mae's research team on Monday of this week. Fannie Mae's research team is under the direction of Chief Economist Dr. Doug Duncan who is a past guest on this show. We are accustomed to getting overall market updates from Fannie Mae. This one was very different in that it was very narrowly focused on the insurance. I don't ever recall seeing a report like this from Fannie Mae focused on a single expense line item. It contains a pretty detailed and comprehensive explanation of what has happened over the past two years in insurance and how it has impacted multi-family investors. Here's a link to the full report. https://www.fanniemae.com/media/51396/display
In this episode of How on Earth, we talk about the upcoming 2024 April 8th solar eclipse. Our guests are science writer David Baron, author of American Eclipse, and Dr. Doug Duncan, served as Director of the University of Colorado Boulder's Fiske Planetarium. Show Producer and Host: Joel Parker Executive Producer: Shelley Schlender Listen to … Continue reading "Solar Eclipse 2024!"
¿Cómo afectan las noticias económicas a nuestros negocios? La reserva federal se mantiene atenta a los indicadores económicos y deja las tasas de interés intactas. La economía agregó el doble de los empleos esperados, Fannie Mae espera que para finales del 2024 los intereses puedan llegar a 5.8% y que en el futuro se mantengan entre 4.5% - 6%. Escribenos con tus comentarios a radio@venbc.org Escucha la entrevista a Doug Duncan, ejecutivo de Fannie Mae https://podcasts.apple.com/us/podcast/fannie-maes-mortgage-rate-range-to-expect-in-2024-and/id1615086704?i=1000643339342 La Economía agrega 353,000 empleos (enlace al artículo del WSJ) https://www.wsj.com/economy/jobs/jobs-report-january-today-unemployment-economy-4f3a772e?st=umxjhbaryl7xic5&reflink=desktopwebshare_permalink La reserva federal deja las tasas de interés intactas https://www.wsj.com/economy/central-banking/fed-leaves-rates-steady-and-opens-door-wider-to-cuts-d10a107d?st=tqlt7v6y69aecah&reflink=desktopwebshare_permalink
Home prices will rise, home sales will jump, and mortgage rates will fall to a familiar range, according to Fannie Mae's Doug Duncan. In their newest consumer sentiment survey, Fannie Mae points to a “tale of two housing markets” where both buyers and sellers are stuck. Rates aren't low enough to get back into the housing market, and with prices set to rise, why should homeowners sell? Doug provides some incredible insight on today's episode, explaining why housing market sentiment is still so low, what could boost homebuying demand, and where Fannie Mae expects mortgage rates to be in 2024 and 2025. If you're praying for rates to hit the rock-bottom levels of 2020 and 2021, Doug has some news you NEED to hear. But rates and prices aren't the only factors impacting buying/selling. Our huge undersupply of housing is making the market even more competitive as builders remain stuck, forced to pay high interest rates and high labor costs, all during a time when most of America doesn't want to purchase. How do we get out of this housing market stalemate? Stick around as one of the top minds in housing gives us his answers. In This Episode We Cover Fannie Mae's newest housing market sentiment numbers and what they mean for buying/selling 2024 vs. 2008 and the factors causing so much property purchasing pessimism The mortgage rate “range” we can expect in 2024 and 2025 The three factors that MUST change if we're to see a return back to a normal housing market Recession indicators that are going off, EVEN with today's solid economic growth The massive construction constraint that's stopping more inventory from coming on the market And So Much More! Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-184 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
What are the top lessons learned over a very successful six decades of real estate investing? Tom Wilson, principal at Wilson Investment Properties, a seasoned investor in several asset classes including retail, office, multi-family, industrial and others, shares his wealth of knowledge.Read the entire interview here: https://tinyurl.com/38phajz2Major Lessons LearnedMy first tip of the day is to go to Fannie Mae's website and look for Doug Duncan's predictions around what's going on in the marketplace, and he has accurately called every single rate change in the last 20 years.Secondly, operations is indeed a critical element, Ken McElroy prides himself in having come into the real estate world from the operations standpoint, and he often emphasizes how important that is. The best underwriting, the best market, and product are only as good as you can execute it. You really need all the legs of the stool to be able to have something come off successful.We always want high cap rates, low risk, and high appreciation but it's very hard to find all three, so you have to decide what is the most important to you. California has been able to generate great appreciations in recent years, but not so good on cap rates, and Texas, Florida, and other places have other things that are strong so you need to realize it's very hard to get everything you want, you have to choose which is important.One of the most important things I've learned is how different sub-markets are and how different products are. It's incredible how different they are. You look at the curves of these markets and products. The general information will give you a general concept but you can always find products, you can always find portions of the market where it can be quite contrarian to what the general information is.Don't fall in love with a deal and try to make it happen. Saying no can be more valuable than saying yes. Almost every property I've bought, I've gone to see it myself, I don't do the level of detail I used to but when you scale, you have to delegate to others. Go look at the other stores around the area, retail, grocery, etc. Who is it that actually comes in there? Market studies from the listing agents show you the one-mile, three-mile, and five-mile, what the demographics are, that's not necessarily who's in your property. As you can tell by going at nighttime, park the car, and see what comes in and out. When you make a mistake, it's tough to grieve, and lick your wounds for a while but don't run from it forever. Go back with your team and analyze what is it that went wrong or what is it we can do better next time. Sometimes we learn more from the things that don't work, than the things that do.Change your model periodically. Switch from market to market to asset class to another, whatever it goes with the time so the market. One of the things I've done that has contributed to my success is to change the model. One of the things I haven't done so well is probably not change it as fast as I could have. It's hard to leave something that was working.What's the most valuable asset that you have?I think it's the 2,000 names that I have on my phone, because with those relationships you can start over if you have to rebuild. Relationships are critical, and character is more important than competence. It's nice to have both but character is number one.And, above all, enjoy the journey. It's so easy to get caught up on every day operations and finding more success. But along the way, give back and smell the roses.
The Federal Reserve's interest rate decision in the run-up to the 2024 Presidential election underscores the intricate balance between macroeconomic management and the more nuanced elements of the financial sector, such as MSRs. Stakeholders in the mortgage industry, as well as broader financial institutions. Given the relationship between interest rates and MSRs, the Federal Reserve's decision will undoubtedly influence MSR dynamics. Today, Doug Duncan, Chief Economist of Fannie Mae, and Adam Quinones, Founder of dataQollab sat down with Matt Graham, Les Parker, and David Lykken to have a round table discussion on what will be most likely the forecast for interest rates and MSR for the 4th Quarter of 2023 and 2024.
It's called a "ring of fire" eclipse, or an annular eclipse. It's coming soon, and astronomer Doug Duncan has all you need to know. Then, a new public radio call-in show, "The Middle," explores the middle of the country, the middle class, and the middle ground of politics.
It's called a "ring of fire" eclipse, or an annular eclipse. It's coming soon, and astronomer Doug Duncan has all you need to know. Then, a new public radio call-in show, "The Middle," explores the middle of the country, the middle class, and the middle ground of politics.
Getting an accurate forecast on the economy can be a little like a weather forecast – full of surprises! But it also depends on who's doing the forecasting. In this episode, you'll hear from the head of a team that's won awards for its forecasting accuracy on the economy, housing, and mortgage market activity. Doug Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for economic analysis and forecasting. As the head of Fannie Mae's Economic & Strategic Research (ESR) Group, the team earned the 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy. It's an award that covers a four-year period that includes the pandemic. Doug and the ESR group also won the NABE Outlook Award two years in a row, in 2015 and 2016, for the most accurate GDP and Treasury note yield forecasts. Doug is one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate and Inman News' 100 Most Influential People in Real Estate and he's here with us on the Real Wealth Show! If you'd like to learn how to build wealth through real estate, be sure to subscribe to this podcast and become a Real Wealth member. It's free to join and get full access to our website where you'll find hundreds of webinars, sample pro-formas, referrals to our highly recommended real estate professionals, and a free session with one of our experienced investment counselors. Thanks for listening, Kathy Fettke Follow Kathy on Instagram at: https://www.instagram.com/kathyfettke/ Purchase Kathy's audiobook on Audible at: https://tinyurl.com/retirerichaudible
INTEREST RATESMortgage interest rates are still elevated, around 7%. But Dale says what's unusual here is that typically when inflation drops, rates drop along with it because the bond market, which drives interest rates on mortgages, generally responds favorably. That has not been the case for the last couple of months. And that's due to some other factors. For one, the Fitch downgrade of the U.S. government's credit rating was a big deal that really held back rates. But Dale adds that a number of signs point to 2024 being a much better year in terms of interest rates.Doug Duncan, the chief economist for Fannie Mae and Freddie Mac, really believes — and so to the other experts — that we're going to be in the mid-fives to probably low sixes and 2024 in terms of interest rate percentages. It could even hit the low fives. HOME VALUESDale notes that in the first half of this year, we actually saw a 10% increase from January through the end of May. But listing prices are starting to drop on properties, and that is always the leading indicator for values. In June, we saw the lowest increase in 11 years, it was only 1.6% annualized. So we're probably going to be looking at a 6% total appreciation by the end of this year. Some markets may even see decreases in property value, but we very likely won't see significant declines anywhere. IS NOW THE TIME TO BUY? Believe it or not, this may be a great time to buy.Dale explains that most people think there's no way this is a good time to buy, but that has helped to lessen the buyer competition in the housing market. If you wait until rates go down, what's going to happen is that many buyers will come back into the market, and it's going to be hard to find a house amid another round of bidding wars. And that has helped to moderate home values somewhat, which puts buyers in a stronger bargaining position. One of the things that we've seen this year is over 40% of sales have included seller concessions. So you can get that now, which certainly wasn't the case not all that long ago. And there are huge tax advantages right now because of the rates, which actually offset some of your payments. When you look at the tax benefits on the backside, add all of those things up, and you might be better off buying now and perhaps refinancing when rates drop.Learn more about Dale Vermillion at DaleVermillion.com. On today's program, Rob also answers listener questions: Are you required at a certain point to transfer a CD into another IRA CD? Are there good, safe alternatives to banks for where to keep your money? How do you begin to secure your financial future after a divorce? Do you need a living trust in order to avoid probate? How should you think and pray through the process of deciding how to divide your inheritance in your will? RESOURCES MENTIONED:Splitting Heirs Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.
Housing affordability has reached lows that most Americans never knew existed. After home prices had an unprecedented multi-year run-up and mortgage rates got hiked, the average home buyer was out of luck. They couldn't afford a house, and even if they could, the chances of getting one were slim to none when no inventory existed. Many now hold on to a hope that affordability could be around the corner, but this isn't looking likely, at least not according to the most accurate forecasters in the country. Doug Duncan, SVP and Chief Economist at Fannie Mae doesn't just do the standard housing market forecast models. His team at Fannie Mae has come up with the most accurate predictions of the housing market to date through a combination of judgment, market sentiment, and math. Today, Doug is on the show to give his data-backed take on home prices, mortgage rates, and the affordability crisis. There is some good news for homeowners and not-so-good news for home buyers, but Doug brings some solid advice for those still struggling to buy a home, plus a forecast of when things could finally turn around. If you want to know whether a recession is still in the cards, what home prices will do, and when affordability will reach equilibrium, tune in! In This Episode We Cover: A 2024 home price forecast that most didn't think was possible Housing affordability and why we may not see relief for YEARS to come Recession watch and whether or not we're in the economic clear Data modeling and why you CAN'T just rely on the math for your housing market predictions Advice to first-time home buyers and what you MUST have before you try to buy And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Forums BiggerPockets Agent BiggerPockets Bootcamps Join BiggerPockets for FREE On The Market Join the Future of Real Estate Investing with Fundrise Connect with Other Investors in the “On The Market” Forums Subscribe to The “On The Market” YouTube Channel Dave's BiggerPockets Profile Dave's Instagram Grab Fannie Mae's Forecast Housing Market Affordability Has Crossed a Concerning Threshold in the U.S Connect with Doug: Fannie Mae Doug's LinkedIn Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-133 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
This is Garrison Hardie with your CrossPolitic Daily News Brief for Thursday, August 10th, 2023. Bohnet Music Academy Isn’t it about time to take action on how you're going to give your children and grandchildren a good music education? Moses, David, and all the Saints of the church have worshiped God with musical might, so let’s be confidently found doing the same. Bohnet Music Academy instructs children and adults in how to be musically literate. That’s everything you need to know and do as the musician God made you to be. Lessons are available locally in Moscow, ID and online. What’s great is that in addition to getting vocal training, you can also study the piano, guitar, violin, cello, drums, or the trumpet. Visit Bohnetma.com/crosspolitic for more information on how to equip your family to serve God’s musical commands. B-O-H-N-E-T MA.com/crosspolitic https://www.cnbc.com/2023/08/09/fbi-shoots-and-kills-utah-man-wanted-for-biden-threats.html FBI shoots and kills Utah man wanted for threats against Biden, New York prosecutor The FBI shot and killed a Utah man on Wednesday while trying to arrest him for threatening to murder President Joe Biden and the New York district attorney who is prosecuting President Donald Trump in connection with hush money payments. Many other politicians were also allegedly threatened in social media posts by the man, Provo resident Craig Deleeuw Robertson, who was accused in court documents of vowing to retaliate against the FBI during an investigation. Court documents say the FBI described Robertson as a white man “approximately 70-75 years old” who was surveilled “wearing a dark suit (later observed as having an AR-15 style rifle lapel pin attached), a white shirt, a red tie, and a multi-colored (possibly camouflage) hat bearing the word “TRUMP” on the front.” Robertson was also found to be the owner of a sniper rifle and numerous other firearms. Robertson was fatally shot by at least one FBI agent at 6:15 a.m. in Provo, about 12 hours before Biden was due to visit the state in Salt Lake City. No agents were injured. “The incident began when special agents attempted to serve arrest and search warrants at a residence,” the FBI said in a statement. “The subject is deceased.” The shooting is under review by the FBI’s Inspection Division. A senior administration official told NBC News that Biden was briefed on the FBI raid this morning, ahead of scheduled events in New Mexico. The U.S. Secret Service, which provides protection for Biden, said in a statement, “The Secret Service is aware of the FBI investigation involving an individual in Utah who has exhibited threats towards a protectee.” “While we always remain in close coordination with our law enforcement partners, this is an FBI-led effort and we would refer any related questions to the FBI,” the Secret Service said. Robertson allegedly had made a threat naming Biden on Monday, and also threatened in a social media post in March to shoot Manhattan District Attorney Alvin Bragg Jr. during a visit to New York. A felony complaint against Robertson filed in U.S. District Court in Utah charged him with making threats against the president, making interstate threats, and influencing, impeding, and retaliating against federal law enforcement officers by threat. Bragg charged Trump earlier this year with falsifying business records related to a 2016 payment to porn star Stormy Daniels to keep her quiet about her alleged sexual tryst with Trump a decade earlier. Trump denies having sex with Daniels, and has pleaded not guilty in the case, which is scheduled to go to trial next year. https://www.foxnews.com/politics/images-show-men-armed-rifles-body-armor-coming-southern-border Images show men armed with rifles, body armor coming across southern border Fox News has obtained images that show suspected cartel gunmen coming across the U.S. southern border in Texas toting body armor and rifles – the latest instance of armed men believed to be cartel members at the border. Law enforcement sources tell Fox that the three men were spotted on Saturday evening by cameras in the Fronton area and were seen carrying rifles and wearing body armor as they move through the brush. Border Patrol agents, including the agency’s BORTAC tactical unit, were deployed to the area but found nothing. It is the same area where law enforcement arrested five suspected members of the Northeast Cartel in June. The latest incident came just days after Texas Department of Public Safety (DPS) drone operators in Eagle Pass spotted an armed smuggler in Eagle Pass carrying a long gun and guiding a group of illegal immigrants across the Rio Grande. In that instance the man made it back to Mexico, authorities said. While the overwhelming majority of migrants coming across the border do not have criminal records, the large numbers of people coming across has raised concerns – particularly from Republicans – about who may be among the hundreds of thousands of people who are able to evade Border Patrol agents. The head of Border Patrol announced last week that agents nabbed four sex offenders – some with convictions of crimes against children – at the border coming into the U.S. within a single day. The border has seen record-high migrant encounters since 2021, but numbers began to trend down after the end of Title 42 on May 11. There were 144,000 migrant encounters in June, down from over 200,000 in May. However, recently there are signs numbers have gone up in July, with the Washington Post reporting that initial numbers are up by 30%. The Biden administration has touted moves it is taking to reduce the reliance on smugglers, who control large parts of the Mexican side of the border and who migrants often need to deal with in order to be able to access the U.S. The administration has expanded a number of lawful pathways for migrants to enter the U.S. – and has touted an anti-smuggling campaign last year which led to thousands of arrests. The Pentagon has authorized 400 troops to remain at the border until the end of August beyond their 90-day mission, as 1,100 return to their home base. Meanwhile, Fox News Digital reported last week that ICE is increasing the number of its special agents at the border and that DHS is calling for more agency volunteers to help with processing at the border in the event of a surge in numbers. https://americanmilitarynews.com/2023/08/chinese-using-new-smuggling-route-to-enter-us-illegally-report/ Chinese using new smuggling route to enter US illegally An internal federal intelligence report indicates that U.S. authorities are concerned with a new Chinese migrant route that migrants are using to illegally cross into the United States through Florida. According to an internal federal intelligence report obtained by The Daily Caller, Chinese migrants are taking boats from the Bahamas to illegally enter the United States through Florida. The Daily Caller reported that the intelligence report lists gaps in intelligence, including where Chinese migrants are located in the Bahamas, who is coordinating the illegal immigration effort between the Bahamas and the state of Florida, and why Chinese migrants are engaging in “self-smuggle” operations from the Bahamas. The report indicates five incidents of Chinese migrants attempting to smuggle themselves into the United States from the Bahamas. A recent smuggling attempt reportedly occurred on July 16, involving six Chinese migrants. “The Chinese purchased a Bahamian registered vessel in GBI and tested the capabilities before leaving and being interdicted in Palm Beach,” the report stated. “All 6 Chinese migrants were repatriated to the Bahamas.” U.S. officials and experts have expressed concerns regarding the identity of the migrants and the possible dangers they could pose to the national security of the United States.. U.S. Customs and Border Protection data indicates that Florida’s Border Patrol agents have experienced a major increase in illegal Chinese migrant arrests According to the data, Border Patrol agents arrested 27 illegal Chinese migrants from October of 2022 to June of this year, representing a significant increase from 5 total Chinese migrant arrests in the fiscal year of 2022. According to The Daily Caller, the intelligence report does not indicate how many of the Chinese migrants utilized the smuggling route between the Bahamas and Florida. The U.S. Customs and Border Protection data also reveals that Border Patrol agents caught over 14,000 illegal Chinese migrants at the southern border from October of 2022 to June of this year. “Right now in China there’s extreme pessimism, especially among people in their 20s about the future of their country, so it’s understandable that they’re leaving and they’re trying to get into the United States,” https://www.newsmax.com/politics/fannie-mae-homebuying-money/2023/08/08/id/1130062/ Homebuying Confidence at an All-Time Low More than 80% of Americans think it is a "bad" time to buy a home, a new Fannie Mae National Housing Survey finds. The survey, released Monday, found 82% believe it is a "bad time" to buy a house in July compared to 78% in June. The monthly survey, launched in 2010, tracks attitudes on home ownership and renting, according to the organization. It is conducted by telephone with around 1,000 American adults who make financial decisions in households during the first three weeks of the month and is usually released around the 7th of the following month and has a margin of error of around plus or minus 0.4 or fewer percentage points. Even though those surveyed expressed optimism in their personal financial outlook, rising home prices, and interest rates have kept them sour on entering the housing market. "While consumers are reporting confidence in the components related to their personal financial situations, it's unlikely we'll see housing sentiment catch up to other broader economic confidence measures until there is meaningful improvement to home purchase affordability," Doug Duncan, Fannie Mae senior vice president, and chief economist said in a press release announcing the findings Monday. "In July, a significant majority of consumers indicated that their jobs are stable and that their incomes are the same or better than they were 12 months ago. However, homebuying sentiment once again matched its all-time low, with only 18% telling us that it's a good time to buy a home." The survey also found 36% of current homeowners are less likely to sell in the current market, unchanged from the results in June's survey. "Unsurprisingly, consumers continue to attribute the challenging conditions to high home prices and unfavorable mortgage rates," Duncan said. "Further, the share of consumers expecting home prices to continue to rise has also been on a steady climb since March, which may only add to perceptions of unaffordability. Additionally, we have not seen much movement in the ‘good time to sell' component over the last few months, an indication that the current low levels of existing homes for sale will likely continue to persist in the near term, as also reflected in our latest forecast." The survey found 41% believe that home prices will continue to rise, compared to 36% in June, with decreases in both those who say prices will stay the same, 37% to 34%, and prices will drop from 26% to 24% compared to the June results.
This is Garrison Hardie with your CrossPolitic Daily News Brief for Thursday, August 10th, 2023. Bohnet Music Academy Isn’t it about time to take action on how you're going to give your children and grandchildren a good music education? Moses, David, and all the Saints of the church have worshiped God with musical might, so let’s be confidently found doing the same. Bohnet Music Academy instructs children and adults in how to be musically literate. That’s everything you need to know and do as the musician God made you to be. Lessons are available locally in Moscow, ID and online. What’s great is that in addition to getting vocal training, you can also study the piano, guitar, violin, cello, drums, or the trumpet. Visit Bohnetma.com/crosspolitic for more information on how to equip your family to serve God’s musical commands. B-O-H-N-E-T MA.com/crosspolitic https://www.cnbc.com/2023/08/09/fbi-shoots-and-kills-utah-man-wanted-for-biden-threats.html FBI shoots and kills Utah man wanted for threats against Biden, New York prosecutor The FBI shot and killed a Utah man on Wednesday while trying to arrest him for threatening to murder President Joe Biden and the New York district attorney who is prosecuting President Donald Trump in connection with hush money payments. Many other politicians were also allegedly threatened in social media posts by the man, Provo resident Craig Deleeuw Robertson, who was accused in court documents of vowing to retaliate against the FBI during an investigation. Court documents say the FBI described Robertson as a white man “approximately 70-75 years old” who was surveilled “wearing a dark suit (later observed as having an AR-15 style rifle lapel pin attached), a white shirt, a red tie, and a multi-colored (possibly camouflage) hat bearing the word “TRUMP” on the front.” Robertson was also found to be the owner of a sniper rifle and numerous other firearms. Robertson was fatally shot by at least one FBI agent at 6:15 a.m. in Provo, about 12 hours before Biden was due to visit the state in Salt Lake City. No agents were injured. “The incident began when special agents attempted to serve arrest and search warrants at a residence,” the FBI said in a statement. “The subject is deceased.” The shooting is under review by the FBI’s Inspection Division. A senior administration official told NBC News that Biden was briefed on the FBI raid this morning, ahead of scheduled events in New Mexico. The U.S. Secret Service, which provides protection for Biden, said in a statement, “The Secret Service is aware of the FBI investigation involving an individual in Utah who has exhibited threats towards a protectee.” “While we always remain in close coordination with our law enforcement partners, this is an FBI-led effort and we would refer any related questions to the FBI,” the Secret Service said. Robertson allegedly had made a threat naming Biden on Monday, and also threatened in a social media post in March to shoot Manhattan District Attorney Alvin Bragg Jr. during a visit to New York. A felony complaint against Robertson filed in U.S. District Court in Utah charged him with making threats against the president, making interstate threats, and influencing, impeding, and retaliating against federal law enforcement officers by threat. Bragg charged Trump earlier this year with falsifying business records related to a 2016 payment to porn star Stormy Daniels to keep her quiet about her alleged sexual tryst with Trump a decade earlier. Trump denies having sex with Daniels, and has pleaded not guilty in the case, which is scheduled to go to trial next year. https://www.foxnews.com/politics/images-show-men-armed-rifles-body-armor-coming-southern-border Images show men armed with rifles, body armor coming across southern border Fox News has obtained images that show suspected cartel gunmen coming across the U.S. southern border in Texas toting body armor and rifles – the latest instance of armed men believed to be cartel members at the border. Law enforcement sources tell Fox that the three men were spotted on Saturday evening by cameras in the Fronton area and were seen carrying rifles and wearing body armor as they move through the brush. Border Patrol agents, including the agency’s BORTAC tactical unit, were deployed to the area but found nothing. It is the same area where law enforcement arrested five suspected members of the Northeast Cartel in June. The latest incident came just days after Texas Department of Public Safety (DPS) drone operators in Eagle Pass spotted an armed smuggler in Eagle Pass carrying a long gun and guiding a group of illegal immigrants across the Rio Grande. In that instance the man made it back to Mexico, authorities said. While the overwhelming majority of migrants coming across the border do not have criminal records, the large numbers of people coming across has raised concerns – particularly from Republicans – about who may be among the hundreds of thousands of people who are able to evade Border Patrol agents. The head of Border Patrol announced last week that agents nabbed four sex offenders – some with convictions of crimes against children – at the border coming into the U.S. within a single day. The border has seen record-high migrant encounters since 2021, but numbers began to trend down after the end of Title 42 on May 11. There were 144,000 migrant encounters in June, down from over 200,000 in May. However, recently there are signs numbers have gone up in July, with the Washington Post reporting that initial numbers are up by 30%. The Biden administration has touted moves it is taking to reduce the reliance on smugglers, who control large parts of the Mexican side of the border and who migrants often need to deal with in order to be able to access the U.S. The administration has expanded a number of lawful pathways for migrants to enter the U.S. – and has touted an anti-smuggling campaign last year which led to thousands of arrests. The Pentagon has authorized 400 troops to remain at the border until the end of August beyond their 90-day mission, as 1,100 return to their home base. Meanwhile, Fox News Digital reported last week that ICE is increasing the number of its special agents at the border and that DHS is calling for more agency volunteers to help with processing at the border in the event of a surge in numbers. https://americanmilitarynews.com/2023/08/chinese-using-new-smuggling-route-to-enter-us-illegally-report/ Chinese using new smuggling route to enter US illegally An internal federal intelligence report indicates that U.S. authorities are concerned with a new Chinese migrant route that migrants are using to illegally cross into the United States through Florida. According to an internal federal intelligence report obtained by The Daily Caller, Chinese migrants are taking boats from the Bahamas to illegally enter the United States through Florida. The Daily Caller reported that the intelligence report lists gaps in intelligence, including where Chinese migrants are located in the Bahamas, who is coordinating the illegal immigration effort between the Bahamas and the state of Florida, and why Chinese migrants are engaging in “self-smuggle” operations from the Bahamas. The report indicates five incidents of Chinese migrants attempting to smuggle themselves into the United States from the Bahamas. A recent smuggling attempt reportedly occurred on July 16, involving six Chinese migrants. “The Chinese purchased a Bahamian registered vessel in GBI and tested the capabilities before leaving and being interdicted in Palm Beach,” the report stated. “All 6 Chinese migrants were repatriated to the Bahamas.” U.S. officials and experts have expressed concerns regarding the identity of the migrants and the possible dangers they could pose to the national security of the United States.. U.S. Customs and Border Protection data indicates that Florida’s Border Patrol agents have experienced a major increase in illegal Chinese migrant arrests According to the data, Border Patrol agents arrested 27 illegal Chinese migrants from October of 2022 to June of this year, representing a significant increase from 5 total Chinese migrant arrests in the fiscal year of 2022. According to The Daily Caller, the intelligence report does not indicate how many of the Chinese migrants utilized the smuggling route between the Bahamas and Florida. The U.S. Customs and Border Protection data also reveals that Border Patrol agents caught over 14,000 illegal Chinese migrants at the southern border from October of 2022 to June of this year. “Right now in China there’s extreme pessimism, especially among people in their 20s about the future of their country, so it’s understandable that they’re leaving and they’re trying to get into the United States,” https://www.newsmax.com/politics/fannie-mae-homebuying-money/2023/08/08/id/1130062/ Homebuying Confidence at an All-Time Low More than 80% of Americans think it is a "bad" time to buy a home, a new Fannie Mae National Housing Survey finds. The survey, released Monday, found 82% believe it is a "bad time" to buy a house in July compared to 78% in June. The monthly survey, launched in 2010, tracks attitudes on home ownership and renting, according to the organization. It is conducted by telephone with around 1,000 American adults who make financial decisions in households during the first three weeks of the month and is usually released around the 7th of the following month and has a margin of error of around plus or minus 0.4 or fewer percentage points. Even though those surveyed expressed optimism in their personal financial outlook, rising home prices, and interest rates have kept them sour on entering the housing market. "While consumers are reporting confidence in the components related to their personal financial situations, it's unlikely we'll see housing sentiment catch up to other broader economic confidence measures until there is meaningful improvement to home purchase affordability," Doug Duncan, Fannie Mae senior vice president, and chief economist said in a press release announcing the findings Monday. "In July, a significant majority of consumers indicated that their jobs are stable and that their incomes are the same or better than they were 12 months ago. However, homebuying sentiment once again matched its all-time low, with only 18% telling us that it's a good time to buy a home." The survey also found 36% of current homeowners are less likely to sell in the current market, unchanged from the results in June's survey. "Unsurprisingly, consumers continue to attribute the challenging conditions to high home prices and unfavorable mortgage rates," Duncan said. "Further, the share of consumers expecting home prices to continue to rise has also been on a steady climb since March, which may only add to perceptions of unaffordability. Additionally, we have not seen much movement in the ‘good time to sell' component over the last few months, an indication that the current low levels of existing homes for sale will likely continue to persist in the near term, as also reflected in our latest forecast." The survey found 41% believe that home prices will continue to rise, compared to 36% in June, with decreases in both those who say prices will stay the same, 37% to 34%, and prices will drop from 26% to 24% compared to the June results.
Dr. Doug Duncan, Fannie Mae's Chief Economist gave his Economic Forecast in June 2023. Dr. Duncan is the recipient of the prestigious Lawrence R Klein Award for Most Accurate Forecaster Over The Past 5 Years, he was also named by Bloomberg and BusinessWeek as one of the Top 50 Most Powerful People in Real Estate. Learn from one of the smartest economists in the U.S., who advises the U.S. government and the Federal Reserve on real estate matters. He delves into the topic of bank failures, and sheds light on what lies ahead for interest rates. Full video recording: https://bit.ly/43YaODA Slides: https://bit.ly/444rIAo Dr. Doug Duncan Fannie Mae Join our Investing Club: www.montecarlorei.com/investors --- Support this podcast: https://podcasters.spotify.com/pod/show/best-commercial-retail-real-estate-investing-advice-ever/support
Dr. Doug Duncan, Fannie Mae's Chief Economist gave his Economic Forecast in June 2023. Dr. Duncan is the recipient of the prestigious Lawrence R Klein Award for Most Accurate Forecaster Over The Past 5 Years, he was also named by Bloomberg and BusinessWeek as one of the Top 50 Most Powerful People in Real Estate. Learn from one of the smartest economists in the U.S., who advises the U.S. government and the Federal Reserve on real estate matters. He delves into the topic of bank failures, and sheds light on what lies ahead for interest rates. Full video recording: https://bit.ly/43YaODASlides: https://bit.ly/444rIAo What is the underlying theme for economic activity over the succeeding years?Each year, I spend time in December or January thinking about what is the underlying theme for economic activity over the succeeding years. The reason I do that is this isn't a check against ourselves, the actually team does this, but I want to know whether at the outside of a time period. We had a good feel for the major impulses that were underway in economic activity in particular housing, because as the business Fannie Mae is in and then we use that to test ourselves across the course of the year, what did we miss, if anything or we are just lucky? Did we just make it a lucky guess? But it's also something that we can hang the discussion on when we're talking with people out speaking. So, the interesting fact of it is the optimal number of words for that theme is less than seven. People will remember if it's less than seven words, if it's more than seven, it gets lost so this is for awaiting improvements and affordability. It's not just affordability and housing that rise in interest rates means affordability across the economy and credit affordability, that kind of issue. So, it's intended not just to focus on housing, though it certainly does apply to housing. Housing market supply issue.We believe that geopolitical change is going to lead to the restructuring of supply chains and that's time consuming and expensive. The Fed is going to be leaning against the restructuring of supply chains, and you're seeing the stories emerge now about how difficult it is to replatform your company from one country to another country to strike relationships, shipping and transportation relationships, restructuring those things can be time consuming and expensive. We felt like that we got ahead of that one before others did. That's going to be a contributor to the underlying rate of inflation for some time. What is the relationship between housing and the business cycle?There is a typical relationship between housing and the business cycle. As the Fed tightens on anticipation of the rise in inflation or in response to the rise of inflation, interest rates go up. Housing is very interesting since this is the first thing that happens: residential fixed investment, which is dynamic targeting building starts to slow; then, the next thing that happens is New Home Sales start to slow because builders are building less and so there are less being sold and then existing home sales start to slow. When the recession is full force and fit, interest rates come down, construction starts to pick up, new home sales start to pick up and existing home sales start to pick up so there's a predictable relationship. That was not the case in 2007 to 2009 because the center of the financial problem was the decline in underwriting standards in real estate so it was the core of the issue. Dr. Doug DuncanFannie Mae Join our Investing Club: www.montecarlorei.com/investors --- Support this podcast: https://podcasters.spotify.com/pod/show/best-commercial-retail-real-estate-investing-advice-ever/support
On today show we're taking a look at a major shift in the rental housing market. This change is a direct result of the rapid increase in interest rates. A lot has been written in recent months about the so-called lock in effect. I recently attended a talk by Dr. Doug Duncan, chief economist at Fannie Mae. He was speaking at a real estate meet up in Silicon Valley last week, where he shared a tremendous amount of data that the chamber Fannie Mae uses to understand what's happening in the housing market. And I talked, Dr. Duncan shared that 90% of existing residential mortgages in the United States are more than 100 basis points below current interest rates. Furthermore, 70% of residential mortgages are 200 basis points low current mortgage interest rates. These people sell their homes and buy a replacement home, their housing cost will go up dramatically just due to interest rates. Financially, these people cannot afford to sell. They are locked in to their current low interest rate mortgage. This is going to put a tremendous amount of pressure on new supply entering the market. This is exactly what we're saying in the current market. There are very few homes for sale. Prices have stabilized after falling in the fourth quarter of last year. In many markets, we are seeing prices rising again due to the shortage and supply combined with an excess of demand. of course it makes no sense to look at the averages because the averages obscure what is happening in the real economy. We see that homes at the affordable end of the spectrum are continuing to fly off the shelf. Homes at the luxury end of the spectrum are taking longer to sell. Buyers last year were cancelling contracts with new home builders over rising interest rates. Today builders are seeing an increase in demand for new homes. However, the demand for new homes is overwhelmingly at the affordable end of the spectrum. Let's go back and ask the question why do people sell their homes? People sell their homes when they want to move or they feel that the need to move. Older adults are sometimes ageing out of their homes. Sometimes people move for employment reasons. Sometimes they move for lifestyle choices, so what happens if someone needs to move but does not want to sell their house? They are locked in. I expect a large percentage of these homes to show up in the rental market. This is likely to translate into a supply surge of rental properties in the market. The forecast surge in demand for rental properties due to higher borrowing costs is likely to be satisfied by the unexpected supply of rental properties. The rental market vacancy statistics that are maintained by the large national brokerages tend to focus on the larger scale commercial rental properties. Individual single-family homes in the rental market tend to fall below the radar. This could result in market vacancy metrics that are inaccurate over the coming months.
Fannie Mae Chief Economist Doug Duncan joins Mortgage Champions CEO Dale Vermillion for a conversation on the 2023 mortgage market.Subscribe to Batting 1,000Apple Podcasts → https://bit.ly/3GTqzDbSpotify → https://bit.ly/3AZ7P1bAmazon Music → https://bit.ly/3u9xssuGoogle Podcasts → https://bit.ly/3VjQxElAbout Doug DuncanDoug Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Doug also oversees strategic research regarding the potential impact of external factors on the housing industry.Named one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate and Inman News' 100 Most Influential People in Real Estate, Doug is Fannie Mae's source for information and analyses on demographics and the external business and economic environment; the implications of changes in economic activity on the company's strategy and execution; and for forecasting overall housing, economic, and mortgage market activity.Doug is a Hoyt Professional Fellow at the Homer Hoyt Institute. He was chosen as the North Dakota State University College of Agriculture Alumni of the Year in 2018. He was also elected as a Trustee of North Dakota State University in 2022.Doug received his Ph.D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.Connect with DougLinkedIn → https://www.linkedin.com/in/doug-duncan-4b02124/Connect with DaleLinkedIn → https://linkedin.com/company/daleverm...Facebook →
On this episode of Batting 1,000, Mortgage Champions CEO, Dale Vermillion, and Fannie Mae Chief Economist, Doug Duncan, discuss the 2023 mortgage market.Subscribe to Batting 1,000Apple Podcasts → https://bit.ly/3GTqzDbSpotify → https://bit.ly/3AZ7P1bAmazon Music → https://bit.ly/3u9xssuGoogle Podcasts → https://bit.ly/3VjQxElAbout Doug DuncanDoug Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Doug also oversees strategic research regarding the potential impact of external factors on the housing industry.Named one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate and Inman News' 100 Most Influential People in Real Estate, Doug is Fannie Mae's source for information and analyses on demographics and the external business and economic environment; the implications of changes in economic activity on the company's strategy and execution; and for forecasting overall housing, economic, and mortgage market activity.Doug is a Hoyt Professional Fellow at the Homer Hoyt Institute. He was chosen as the North Dakota State University College of Agriculture Alumni of the Year in 2018. He was also elected as a Trustee of North Dakota State University in 2022.Doug received his Ph.D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.Connect with DougLinkedIn → linkedin.com/in/doug-duncan-4b02124Connect with DaleLinkedIn → linkedin.com/in/dalevermillionFacebook → facebook.com/dalevermillionofficialTwitter → twitter.com/dalevermillionWebsite → dalevermillion.comEmail →
Douglas G. Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Duncan also oversees strategic research regarding the potential impact of external factors on the housing industry. He leads the House Price Forecast Working Group reporting to the Finance Committee. Under his leadership, Fannie Mae's Economic & Strategic Research Group (ESR) won the NABE Outlook Award, presented annually for the most accurate GDP and Treasury note yield forecasts, in both 2015 and 2016 – the first recipient in the award's history to capture the honor two years in a row. In addition, ESR was awarded by Pulsenomics for best home price forecast. Named one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate, Duncan is Fannie Mae's source for information and analyses on demographics and the external business and economic environment; the implications of changes in economic activity on the company's strategy and execution; and for forecasting overall housing, economic, and mortgage market activity. Prior to joining Fannie Mae, Duncan was Senior Vice President and Chief Economist at the Mortgage Bankers Association. His experience also includes work on the Financial Institutions Project at the U.S. Department of Agriculture and service as a LEGIS Fellow and staff member with the Committee on Banking, Finance, and Urban Affairs for Congressman Bill McCollum in the U.S. House of Representatives. Duncan received his Ph.D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show
Douglas G. Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Duncan also oversees strategic research regarding the potential impact of external factors on the housing industry. He leads the House Price Forecast Working Group reporting to the Finance Committee. Under his leadership, Fannie Mae's Economic & Strategic Research Group (ESR) won the NABE Outlook Award, presented annually for the most accurate GDP and Treasury note yield forecasts, in both 2015 and 2016 – the first recipient in the award's history to capture the honor two years in a row. In addition, ESR was awarded by Pulsenomics for best home price forecast. Named one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate, Duncan is Fannie Mae's source for information and analyses on demographics and the external business and economic environment; the implications of changes in economic activity on the company's strategy and execution; and for forecasting overall housing, economic, and mortgage market activity. Prior to joining Fannie Mae, Duncan was Senior Vice President and Chief Economist at the Mortgage Bankers Association. His experience also includes work on the Financial Institutions Project at the U.S. Department of Agriculture and service as a LEGIS Fellow and staff member with the Committee on Banking, Finance, and Urban Affairs for Congressman Bill McCollum in the U.S. House of Representatives. Duncan received his Ph.D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show
In this Real Estate News Brief for the week ending April 22nd, 2023… we have two new forecasts on whether we'll see a recession this year, some good news about the cost of construction materials, and a report that shows how much wealthier you are if you own instead of rent. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic News We begin with a look at economic news from the past week. There are a few new reports predicting that we'll have a “mild” recession in the second half of the year. The Conference Board's leading economic indicator index, or LEI, was down for a 12th month in a row in March. It fell 1.2%, which is the biggest decline in the last three years, according to MarketWatch. The index is a compilation of 10 indicators. One Conference Board manager says: “Economic weakness will intensify and spread more widely throughout the U.S. economy over the coming months, leading to a recession starting in mid-2023.” (1) Fannie Mae economists are also predicting a recession later this year. The GSE's Economic and Strategic Research Group says the economy is “running out of steam.” Although the economy got off to a strong start this year, the ESR group expects to see an economic contraction during the second half of 2023. Fannie Mae's chief economist Doug Duncan, says: “The economic slowdown has resumed – whether the end result is a modest recession or simply a soft landing remains unanswered.” He attributes much of his optimism to the strength of the housing market, saying: “The greater-than-expected resilience of the housing sector to the affordability pressures of higher home prices and mortgage rates is central to our expectation that the recession will be modest.” (2) The Labor Department reported another weekly increase in jobless applications, which are now at their highest level since the end of 2021. Initial claims were up another 5,000 to a total of 245,000. That's still an historically low number. Continuing claims also jumped a bit. They were up 61,000 to a total of 1.87 million. (3) Housing starts were down .8% in March, to a rate of 1.52 million. The drop is mostly due to a slowdown in condo construction which fell 6.7%. Starts for single-family homes offset that a bit with an increase of 2.7%. Permits for single-family homes were also higher, by 4.1% while permits for multi-family buildings were down almost 25%. The pullback in apartment construction follows a red-hot building streak over the last several months. (4) Builders are feeling more confident about the market as demand grows for new homes. The National Association of Home Builders says its monthly confidence index was up one point to 45 in April. It's the fourth month that the index has gone higher, and it's now the strongest it's been since September of last year. Demand is strong because the inventory for existing homes is so low. (5) Meantime, existing home sales were down 2.4% in March, to an annual rate of 4.44 million. Compared with March of last year, they are down 22%. Prices are also falling which means that current homeowners would lose some of their equity if they sold now. The National Association of Realtors says that prices were down 1% in March, which is the biggest monthly drop in a decade. That's a national number. A recent report from Black Knight says that prices are falling in the West but rising in the East. Prices are falling the most in cities that experienced a pandemic housing market boom. (6) (7) Mortgage Rates Mortgage rates started rising again this last week. Freddie Mac says the average 30-year fixed-rate mortgage was up 12 basis points to 3.69%. The 15-year was up 22 points to 5.76%. (8) In other news making headlines… Prices Dipping for Construction Materials Prices for construction materials are finally coming back to earth. According to an analysis by the Associated Builders and Contractors group, they are lower today than they were a year ago. It's the first year-over-year decrease we've seen in more than 18 months. Construction Dive says that building costs are still almost 40% higher than they were right before the pandemic struck. (9) Costs for some individual construction materials remain high, however. Bisnow reports that concrete is up 14.5% from a year ago. Construction machinery and equipment is also about 12% higher. Prices are also fluctuating a lot from month to month. Chief Economist Ken Simonson for the Association General Contractors of America told Construction Dive that: “Contractors remain wary about committing to projects” because of the price volatility. Some contractors are also putting the brakes on hiring. The Bureau of Labor Statistics reports a 50% drop in construction job openings at the start of this year. Homeowner vs. Renter Wealth Report Many homeowners are becoming much wealthier than renters, thanks to an increase in their home equity. A study by the National Association of Realtors shows that over the last decade, homeowners became more than 40 times wealthier than the average renter because of that equity. (10) The average gain since 2012 is about $99,000 for low income homeowners, about $122,000 for middle-income homeowners, and about $150,000 for upper-income homeowners. That's it for our latest economic and housing market updates. Please check the show notes for links at newsforinvestors.com. And please remember to click on the Join for Free button at our website for information about real estate investing, and don't forget to subscribe to this podcast, if you haven't already! Thanks for listening. I'm Kathy Fettke. Links: 1 - https://www.marketwatch.com/story/the-u-s-economy-is-headed-toward-recession-leading-index-keeps-signaling-afe5f314?mod=economy-politics 2 - https://www.scotsmanguide.com/news/fannies-latest-forecast-maintains-modest-recession-still-in-play/ 3 - https://www.marketwatch.com/story/jobless-claims-climb-to-245-000-and-signal-rising-layoffs-5409f9d7?mod=economy-politics 4 - https://www.marketwatch.com/story/u-s-housing-starts-decline-in-march-as-apartment-construction-cools-717828a7?mod=economic-report 5 - https://www.marketwatch.com/story/builder-confidence-rises-for-fourth-consecutive-month-amid-low-number-of-resale-listings-d377885e?mod=economic-report 6 - https://www.marketwatch.com/story/u-s-existing-home-prices-fall-nearly-1-in-march-biggest-drop-in-a-decade-910e9be5?mod=economic-report 7 - https://www.cbsnews.com/news/home-price-regional-breakdown-mortgage-housing/ 8 - https://www.freddiemac.com/pmms 9 - https://www.bisnow.com/national/news/construction-development/construction-material-costs-lower-than-a-year-ago-still-39-higher-than-pre-pandemic-118528 10 - https://www.nar.realtor/magazine/real-estate-news/study-homeowner-wealth-is-40-times-higher-than-renters
02/08/23: Joel is broadcasting live from the Midwest Economic Outlook Summit put on by the FMWF Chamber. He is first joined by Doug Duncan, the Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets.See omnystudio.com/listener for privacy information.
This is Garrison Hardie with your CrossPolitic Daily Newsbrief, for Tuesday, November 8th, 2022. I hope you all had a wonderful weekend with you and yours. And happy election day by the way! Get out and VOTE today, as it is our duty as Christians to work to shape this nation in God’s image. Without further adieu, let’s get you caught up on the news: https://thepostmillennial.com/breaking-elon-musk-endorses-gop-in-midterms?utm_campaign=64487 Elon Musk endorses GOP in midterms In a tweet posted on Monday morning, less than 24 hours before Election Day, new Twitter owner Elon Musk recommended that Americans vote for Republican candidates during their visit to the polls tomorrow. In a tweet addressed to "independent-minded voters," Musk wrote, "Shared power curbs the worst excesses of both parties, therefore I recommend voting for a Republican Congress, given that the Presidency is Democratic." https://rumble.com/v153b3f-elon-musk-says-he-will-vote-for-republicans-this-election.html -Play Video Musk’s tweet comes as Republican candidates in key states have either taken the lead or have come within striking distance of their Democrat counterparts. In Arizona’s Senate race, incumbent Mark Kelly is up just one point, according to RealClearPolitics’ average of polls. In the state’s gubernatorial race, Republican candidate Kari Lake is up 1.8 points. In Pennsylvania, GOP Senate candidate Mehmet Oz is up 0.1 percent over Democrat John Letterman. In a poll from Trafalgar, Republican candidate Doug Mastriano is down just 4.3 points. In the blue state of New York, gubernatorial incumbent Kathy Hochul holds a 6.2 point lead over Lee Zeldin, who has quickly closed the gap ahead of Election Day. Independent polls have pointed to Zeldin taking the lead. In Florida’s governor race, incumbent Ron DeSantis holds an 11.5 point lead over Democrat challenger Charlie Crist, according to RealClearPolitics. Even in the deep blue states on the west coast, Republican challengers are closing the gap. https://www.cnbc.com/2022/11/07/consumer-confidence-in-housing-hits-new-low-says-fannie-mae.html Consumer confidence in the housing market hits a new low, according to Fannie Mae Rising mortgage rates, high home prices and uncertainty in the overall economy have Americans feeling more pessimistic about the state of the housing market. In October, just 16% of consumers said they thought now is a good time to buy a home, according to a monthly survey by Fannie Mae. That is the lowest share since the survey began in 2011. The share of respondents who thought now is a good time to sell a home also dropped from 59% to 51%. Fannie Mae’s survey looks not just at buying and selling but tests sentiment about home prices, mortgage rates and the job market. It combines them all into one number, which also fell for the eighth straight month and now sits at a new low. A higher share of consumers, 37%, said they expect home prices to drop in the next 12 months. That compares with 35% in September. More also believe mortgage rates will rise. Fast-rising interest rates are what turned the red-hot housing market on its heels in early summer. The average rate on the popular 30-year fixed mortgage started the year near a record low, around 3%. By June it crossed 6%, and it’s now just over 7%, according to Mortgage News Daily. “As continued affordability constraints reduce homebuyer demand, and homeowners become reluctant to sell at potentially reduced prices, we expect home sales to slow even further in the coming months, consistent with our forecast,” wrote Doug Duncan, Fannie Mae’s chief economist, in a release. Home prices dropped again in September, according to Black Knight, albeit at a slower monthly pace than they did in July and August. Prices are now down 2.6% since June, the first three-month decline since 2018, when interest rates also rose. It is the worst three-month stretch for home prices since early 2009. Prices, however, were still 10.7% higher in September than the same month last year. https://www.dailywire.com/news/judge-blocks-ny-gun-law-excoriates-democrats-trying-to-eviscerate-the-bill-of-rights Judge Blocks NY Gun Law, Excoriates Democrats Trying To ‘Eviscerate The Bill Of Rights’ A Trump-appointed judge in New York last week blocked a gun law from taking effect and took Democrats to task for trying to “eviscerate the Bill of Rights.” U.S. District Judge John Sinatra Jr. issued an injunction blocking a gun law that bars people in New York from bearing arms in places of worship. “The court reiterates that ample Supreme Court precedent addressing the individuals right to keep and bear arms – from Heller and McDonald to its June 2022 decision in [New York State Rifle & Pistol Association Inc. v. Bruen] – dictates that New York’s new place of worship restriction is equally unconstitutional,” Sinatra said, The Daily Caller reported. “The Constitution and the Bill of Rights are the Status quo – not 2022 legislation on the books for nine weeks,” the judge continued, taking aim at the Democrat-controlled New York legislature. “Legislative enactments may not eviscerate the Bill of Rights. Every day they do is one too many.” “The nation’s history does not countenance such an incursion into the right to keep and bear arms across all places of worship across the state,” Sinatra wrote. “The right to self defense is no less important and no less recognized at these places.” The federal judge in October issued a temporary hold on the law, similarly writing, “In Bruen, the Court made the Second Amendment test crystal clear: regulations in this area is permissible only if the government demonstrates that the regulation is consistent with the Nation’s historical tradition of sufficiently analogous regulations. … New York fails that test. The State’s exclusion is, instead, inconsistent with the Nation’s historical traditions.” In its New York State Rifle & Pistol Association Inc. v. Bruen decision, the U.S. Supreme Court in June ruled that longtime restrictions New York placed on carrying concealed firearms run in violation of Americans’ Second and 14th Amendment rights, The Daily Wire reported. The case centered on a 1911 New York state law that conditioned the right to a concealed carry permit on “good moral character” and “proper cause.” The Supreme Court majority opinion, written by Justice Clarence Thomas, took issue with the latter condition, which unlawfully forced New Yorkers to demonstrate “a special need for self-defense.” “We know of no other constitutional right that an individual may exercise only after demonstrating to government officers some special need,” Thomas wrote. “That is not how the First Amendment works when it comes to unpopular speech or the free exercise of religion. It is not how the Sixth Amendment works when it comes to a defendant’s right to confront the witnesses against him. And it is not how the Second Amendment works when it comes to public carry for self-defense.” FLF Magazine: We are on a mission to make magazines great again. So, subscribe to our Fight Laugh Feast magazine. This is a quarterly mini-book like experience, packed full of a variety of authors that includes theologically-driven cultural commentary, a Psalm of the quarter, recipes for feasting, laughter sprinkled throughout the glossy pages, and more. Sign your church up, sign your grumpy uncle up, and while you are at it…sign up the Pope, Elon Musk, and Russel Moore. Disclaimer: This magazine will guarantee various responses and CrossPolitic is not held liable for any of them. Reading the whole magazine may cause theological maturation, possibly encourage your kids to take the Lord’s Supper with you, and will likely cause you to randomly chuckle in joy at God’s wondrous world. In addition to all of the above… starting next year, if you’re a platinum club member, you’ll get a magazine subscription for free! So if you’re not a club member yet… Sign up today! Four issues and $60 per year (unless you’re a platinum club member), that is it. Go to fightlaughfeast.com right now to sign up!. https://thepostmillennial.com/breaking-press-sec-says-bidens-words-were-twisted-when-he-said-he-wanted-to-shut-down-coal-plants?utm_campaign=64487 Press sec says Biden's 'words were twisted' when he said he wanted to shut down coal plants During a White House press briefing on Monday, Press Secretary Karine Jean-Pierre was asked about Joe Biden's remarks on Friday where he promised to shut down coal plants across the country and she said it was "a bit loud and hard to hear." https://rumble.com/v1sb6as-november-7-2022.html - Play Video On Friday, Biden promised to permanently end coal production in the United States while speaking in Carlsbad, California at a political event "touting his administration's economic policies." Biden claimed that the US is going to "become a wind generation" and "it’s going to save them a hell of a lot of money and using the same transmission line that they transmitted the coal-fired electric on, we're going to be shutting these plants down all across America and having wind and solar power." In response Joe Manchin, the Democratic senator from West Virginia, said on Saturday that President Biden's comments were "outrageous" and that the president owed coal miners an "immediate and public apology." After Manchin's response, Jean-Pierre put out a statement that read, "The President’s remarks yesterday have been twisted to suggest a meaning that was not intended; he regrets it if anyone hearing these remarks took offense." "The President was commenting on a fact of economics and technology: as it has been from its earliest days as an energy superpower, America is once again in the midst of an energy transition," the statement read, indicating that the US must embrace "clean and efficient American energy." Armored Republic The Mission of Armored Republic is to Honor Christ by equipping Free Men with Tools of Liberty necessary to preserve God-given rights. In the Armored Republic there is no King but Christ. We are Free Craftsmen. Body Armor is a Tool of Liberty. We create Tools of Liberty. Free men must remain ever vigilant against tyranny wherever it appears. God has given us the tools of liberty needed to defend the rights He bestowed to us. Armored Republic is honored to offer you those Tools. Visit them, at ar500armor.com https://www.theepochtimes.com/court-orders-true-the-vote-leaders-released-from-jail_4846717.html?utm_source=partner&utm_campaign=BonginoReport Court Orders Release of True the Vote Leaders From Jail Two leaders of the election integrity group True the Vote were released from jail after an appeals court overruled a judge’s order that they be detained for contempt of court. Catherine Engelbrecht and Gregg Phillips were ordered released by a panel on the U.S. Court of Appeals for the 5th Circuit late on Nov. 6. “IT IS ORDERED that Petitioners’ opposed motion for release from detention is GRANTED pending further order of this court,” the panel said in the order, which was obtained by The Epoch Times. The panel consisted of Circuit Judges Catharina Haynes, a George W. Bush appointee; Kurt Engelhardt, a Donald Trump appointee; and Andrew Oldham, a Trump appointee. Engelbrecht and Phillips were released on Nov. 7. Engelbrecht and Phillips were sent to jail on Oct. 31 by U.S. District Judge Kenneth Hoyt, a Reagan appointee, who found them in contempt of court for not revealing the identities of people who allegedly accessed information from Konnech, a Michigan-based election management software company whose founder was recently arrested for allegedly stealing poll worker data and hosting the information on servers in China. The order for confinement was to be in place until the defendants “fully comply” with an order that they reveal certain information, including the identities, Hoyt said. Engelbrecht and Phillips say they passed on information that was legally obtained from Konnech to the FBI. One of their attorneys identified one of the individuals in question, Mike Hasson, during an October hearing. But they have declined to share the name of the second person. Both the individuals are FBI informants, Phillips asserted during one hearing. The contempt order came after Konnech sued True the Vote and its founders for defamation. In its opposition to the petition, Konnech said that the True the Vote founders were trying to “strip the District Court of its contempt power” and that they “have no one but themselves to blame for their confinement” after defying Hoyt’s order. Lawyers for the firm said, “Petitioners’ imprisonment is not an emergency especially in this case where the Petitioners are contemnors and recalcitrant witnesses who hold the keys to the jailhouse, and can free themselves immediately upon purging their contempt.” Alright, now it’s time for my favorite topic, sports! Last week, the Houston Astros, did this: The Astros win the World Series! Play 0:00-0:17 https://nypost.com/2022/11/06/dusty-baker-finally-wins-world-series-as-a-manager/ HOUSTON — The Astros’ manager stood on the stage where the World Series trophy was presented late Saturday night and channeled his inner Jimmy Johnson. “How about those Astros!” Dusty Baker said. After 25 seasons managing in the major leagues and two previous trips to the World Series, Baker is finally a world champion manager. With the Astros’ 4-1 victory over the Phillies in Game 6, the 73-year-old Baker became the oldest manager to lead a team to a World Series title. Hired to stabilize the organization before the 2020 season — in the aftermath of the team’s sign-stealing scheme from 2017 that cost former manager A.J. Hinch his job — Baker might now be the most popular man in Texas. Baker took the Giants to Game 7 of the World Series in 2002 before they lost to the Angels. Under his guidance last season, the Astros made it to the World Series before losing to the Braves in six games. The Astros rolled to the AL West title this season, winning 106 games, before starting the postseason 7-0 with ALDS and ALCS sweeps of the Mariners and Yankees, respectively. The Phillies, however, jumped ahead 2-1 in the World Series, before the Astros closed it out with three straight victories.
This is Garrison Hardie with your CrossPolitic Daily Newsbrief, for Tuesday, November 8th, 2022. I hope you all had a wonderful weekend with you and yours. And happy election day by the way! Get out and VOTE today, as it is our duty as Christians to work to shape this nation in God’s image. Without further adieu, let’s get you caught up on the news: https://thepostmillennial.com/breaking-elon-musk-endorses-gop-in-midterms?utm_campaign=64487 Elon Musk endorses GOP in midterms In a tweet posted on Monday morning, less than 24 hours before Election Day, new Twitter owner Elon Musk recommended that Americans vote for Republican candidates during their visit to the polls tomorrow. In a tweet addressed to "independent-minded voters," Musk wrote, "Shared power curbs the worst excesses of both parties, therefore I recommend voting for a Republican Congress, given that the Presidency is Democratic." https://rumble.com/v153b3f-elon-musk-says-he-will-vote-for-republicans-this-election.html -Play Video Musk’s tweet comes as Republican candidates in key states have either taken the lead or have come within striking distance of their Democrat counterparts. In Arizona’s Senate race, incumbent Mark Kelly is up just one point, according to RealClearPolitics’ average of polls. In the state’s gubernatorial race, Republican candidate Kari Lake is up 1.8 points. In Pennsylvania, GOP Senate candidate Mehmet Oz is up 0.1 percent over Democrat John Letterman. In a poll from Trafalgar, Republican candidate Doug Mastriano is down just 4.3 points. In the blue state of New York, gubernatorial incumbent Kathy Hochul holds a 6.2 point lead over Lee Zeldin, who has quickly closed the gap ahead of Election Day. Independent polls have pointed to Zeldin taking the lead. In Florida’s governor race, incumbent Ron DeSantis holds an 11.5 point lead over Democrat challenger Charlie Crist, according to RealClearPolitics. Even in the deep blue states on the west coast, Republican challengers are closing the gap. https://www.cnbc.com/2022/11/07/consumer-confidence-in-housing-hits-new-low-says-fannie-mae.html Consumer confidence in the housing market hits a new low, according to Fannie Mae Rising mortgage rates, high home prices and uncertainty in the overall economy have Americans feeling more pessimistic about the state of the housing market. In October, just 16% of consumers said they thought now is a good time to buy a home, according to a monthly survey by Fannie Mae. That is the lowest share since the survey began in 2011. The share of respondents who thought now is a good time to sell a home also dropped from 59% to 51%. Fannie Mae’s survey looks not just at buying and selling but tests sentiment about home prices, mortgage rates and the job market. It combines them all into one number, which also fell for the eighth straight month and now sits at a new low. A higher share of consumers, 37%, said they expect home prices to drop in the next 12 months. That compares with 35% in September. More also believe mortgage rates will rise. Fast-rising interest rates are what turned the red-hot housing market on its heels in early summer. The average rate on the popular 30-year fixed mortgage started the year near a record low, around 3%. By June it crossed 6%, and it’s now just over 7%, according to Mortgage News Daily. “As continued affordability constraints reduce homebuyer demand, and homeowners become reluctant to sell at potentially reduced prices, we expect home sales to slow even further in the coming months, consistent with our forecast,” wrote Doug Duncan, Fannie Mae’s chief economist, in a release. Home prices dropped again in September, according to Black Knight, albeit at a slower monthly pace than they did in July and August. Prices are now down 2.6% since June, the first three-month decline since 2018, when interest rates also rose. It is the worst three-month stretch for home prices since early 2009. Prices, however, were still 10.7% higher in September than the same month last year. https://www.dailywire.com/news/judge-blocks-ny-gun-law-excoriates-democrats-trying-to-eviscerate-the-bill-of-rights Judge Blocks NY Gun Law, Excoriates Democrats Trying To ‘Eviscerate The Bill Of Rights’ A Trump-appointed judge in New York last week blocked a gun law from taking effect and took Democrats to task for trying to “eviscerate the Bill of Rights.” U.S. District Judge John Sinatra Jr. issued an injunction blocking a gun law that bars people in New York from bearing arms in places of worship. “The court reiterates that ample Supreme Court precedent addressing the individuals right to keep and bear arms – from Heller and McDonald to its June 2022 decision in [New York State Rifle & Pistol Association Inc. v. Bruen] – dictates that New York’s new place of worship restriction is equally unconstitutional,” Sinatra said, The Daily Caller reported. “The Constitution and the Bill of Rights are the Status quo – not 2022 legislation on the books for nine weeks,” the judge continued, taking aim at the Democrat-controlled New York legislature. “Legislative enactments may not eviscerate the Bill of Rights. Every day they do is one too many.” “The nation’s history does not countenance such an incursion into the right to keep and bear arms across all places of worship across the state,” Sinatra wrote. “The right to self defense is no less important and no less recognized at these places.” The federal judge in October issued a temporary hold on the law, similarly writing, “In Bruen, the Court made the Second Amendment test crystal clear: regulations in this area is permissible only if the government demonstrates that the regulation is consistent with the Nation’s historical tradition of sufficiently analogous regulations. … New York fails that test. The State’s exclusion is, instead, inconsistent with the Nation’s historical traditions.” In its New York State Rifle & Pistol Association Inc. v. Bruen decision, the U.S. Supreme Court in June ruled that longtime restrictions New York placed on carrying concealed firearms run in violation of Americans’ Second and 14th Amendment rights, The Daily Wire reported. The case centered on a 1911 New York state law that conditioned the right to a concealed carry permit on “good moral character” and “proper cause.” The Supreme Court majority opinion, written by Justice Clarence Thomas, took issue with the latter condition, which unlawfully forced New Yorkers to demonstrate “a special need for self-defense.” “We know of no other constitutional right that an individual may exercise only after demonstrating to government officers some special need,” Thomas wrote. “That is not how the First Amendment works when it comes to unpopular speech or the free exercise of religion. It is not how the Sixth Amendment works when it comes to a defendant’s right to confront the witnesses against him. And it is not how the Second Amendment works when it comes to public carry for self-defense.” FLF Magazine: We are on a mission to make magazines great again. So, subscribe to our Fight Laugh Feast magazine. This is a quarterly mini-book like experience, packed full of a variety of authors that includes theologically-driven cultural commentary, a Psalm of the quarter, recipes for feasting, laughter sprinkled throughout the glossy pages, and more. Sign your church up, sign your grumpy uncle up, and while you are at it…sign up the Pope, Elon Musk, and Russel Moore. Disclaimer: This magazine will guarantee various responses and CrossPolitic is not held liable for any of them. Reading the whole magazine may cause theological maturation, possibly encourage your kids to take the Lord’s Supper with you, and will likely cause you to randomly chuckle in joy at God’s wondrous world. In addition to all of the above… starting next year, if you’re a platinum club member, you’ll get a magazine subscription for free! So if you’re not a club member yet… Sign up today! Four issues and $60 per year (unless you’re a platinum club member), that is it. Go to fightlaughfeast.com right now to sign up!. https://thepostmillennial.com/breaking-press-sec-says-bidens-words-were-twisted-when-he-said-he-wanted-to-shut-down-coal-plants?utm_campaign=64487 Press sec says Biden's 'words were twisted' when he said he wanted to shut down coal plants During a White House press briefing on Monday, Press Secretary Karine Jean-Pierre was asked about Joe Biden's remarks on Friday where he promised to shut down coal plants across the country and she said it was "a bit loud and hard to hear." https://rumble.com/v1sb6as-november-7-2022.html - Play Video On Friday, Biden promised to permanently end coal production in the United States while speaking in Carlsbad, California at a political event "touting his administration's economic policies." Biden claimed that the US is going to "become a wind generation" and "it’s going to save them a hell of a lot of money and using the same transmission line that they transmitted the coal-fired electric on, we're going to be shutting these plants down all across America and having wind and solar power." In response Joe Manchin, the Democratic senator from West Virginia, said on Saturday that President Biden's comments were "outrageous" and that the president owed coal miners an "immediate and public apology." After Manchin's response, Jean-Pierre put out a statement that read, "The President’s remarks yesterday have been twisted to suggest a meaning that was not intended; he regrets it if anyone hearing these remarks took offense." "The President was commenting on a fact of economics and technology: as it has been from its earliest days as an energy superpower, America is once again in the midst of an energy transition," the statement read, indicating that the US must embrace "clean and efficient American energy." Armored Republic The Mission of Armored Republic is to Honor Christ by equipping Free Men with Tools of Liberty necessary to preserve God-given rights. In the Armored Republic there is no King but Christ. We are Free Craftsmen. Body Armor is a Tool of Liberty. We create Tools of Liberty. Free men must remain ever vigilant against tyranny wherever it appears. God has given us the tools of liberty needed to defend the rights He bestowed to us. Armored Republic is honored to offer you those Tools. Visit them, at ar500armor.com https://www.theepochtimes.com/court-orders-true-the-vote-leaders-released-from-jail_4846717.html?utm_source=partner&utm_campaign=BonginoReport Court Orders Release of True the Vote Leaders From Jail Two leaders of the election integrity group True the Vote were released from jail after an appeals court overruled a judge’s order that they be detained for contempt of court. Catherine Engelbrecht and Gregg Phillips were ordered released by a panel on the U.S. Court of Appeals for the 5th Circuit late on Nov. 6. “IT IS ORDERED that Petitioners’ opposed motion for release from detention is GRANTED pending further order of this court,” the panel said in the order, which was obtained by The Epoch Times. The panel consisted of Circuit Judges Catharina Haynes, a George W. Bush appointee; Kurt Engelhardt, a Donald Trump appointee; and Andrew Oldham, a Trump appointee. Engelbrecht and Phillips were released on Nov. 7. Engelbrecht and Phillips were sent to jail on Oct. 31 by U.S. District Judge Kenneth Hoyt, a Reagan appointee, who found them in contempt of court for not revealing the identities of people who allegedly accessed information from Konnech, a Michigan-based election management software company whose founder was recently arrested for allegedly stealing poll worker data and hosting the information on servers in China. The order for confinement was to be in place until the defendants “fully comply” with an order that they reveal certain information, including the identities, Hoyt said. Engelbrecht and Phillips say they passed on information that was legally obtained from Konnech to the FBI. One of their attorneys identified one of the individuals in question, Mike Hasson, during an October hearing. But they have declined to share the name of the second person. Both the individuals are FBI informants, Phillips asserted during one hearing. The contempt order came after Konnech sued True the Vote and its founders for defamation. In its opposition to the petition, Konnech said that the True the Vote founders were trying to “strip the District Court of its contempt power” and that they “have no one but themselves to blame for their confinement” after defying Hoyt’s order. Lawyers for the firm said, “Petitioners’ imprisonment is not an emergency especially in this case where the Petitioners are contemnors and recalcitrant witnesses who hold the keys to the jailhouse, and can free themselves immediately upon purging their contempt.” Alright, now it’s time for my favorite topic, sports! Last week, the Houston Astros, did this: The Astros win the World Series! Play 0:00-0:17 https://nypost.com/2022/11/06/dusty-baker-finally-wins-world-series-as-a-manager/ HOUSTON — The Astros’ manager stood on the stage where the World Series trophy was presented late Saturday night and channeled his inner Jimmy Johnson. “How about those Astros!” Dusty Baker said. After 25 seasons managing in the major leagues and two previous trips to the World Series, Baker is finally a world champion manager. With the Astros’ 4-1 victory over the Phillies in Game 6, the 73-year-old Baker became the oldest manager to lead a team to a World Series title. Hired to stabilize the organization before the 2020 season — in the aftermath of the team’s sign-stealing scheme from 2017 that cost former manager A.J. Hinch his job — Baker might now be the most popular man in Texas. Baker took the Giants to Game 7 of the World Series in 2002 before they lost to the Angels. Under his guidance last season, the Astros made it to the World Series before losing to the Braves in six games. The Astros rolled to the AL West title this season, winning 106 games, before starting the postseason 7-0 with ALDS and ALCS sweeps of the Mariners and Yankees, respectively. The Phillies, however, jumped ahead 2-1 in the World Series, before the Astros closed it out with three straight victories.
This is Garrison Hardie with your CrossPolitic Daily Newsbrief, for Tuesday, November 8th, 2022. I hope you all had a wonderful weekend with you and yours. And happy election day by the way! Get out and VOTE today, as it is our duty as Christians to work to shape this nation in God’s image. Without further adieu, let’s get you caught up on the news: https://thepostmillennial.com/breaking-elon-musk-endorses-gop-in-midterms?utm_campaign=64487 Elon Musk endorses GOP in midterms In a tweet posted on Monday morning, less than 24 hours before Election Day, new Twitter owner Elon Musk recommended that Americans vote for Republican candidates during their visit to the polls tomorrow. In a tweet addressed to "independent-minded voters," Musk wrote, "Shared power curbs the worst excesses of both parties, therefore I recommend voting for a Republican Congress, given that the Presidency is Democratic." https://rumble.com/v153b3f-elon-musk-says-he-will-vote-for-republicans-this-election.html -Play Video Musk’s tweet comes as Republican candidates in key states have either taken the lead or have come within striking distance of their Democrat counterparts. In Arizona’s Senate race, incumbent Mark Kelly is up just one point, according to RealClearPolitics’ average of polls. In the state’s gubernatorial race, Republican candidate Kari Lake is up 1.8 points. In Pennsylvania, GOP Senate candidate Mehmet Oz is up 0.1 percent over Democrat John Letterman. In a poll from Trafalgar, Republican candidate Doug Mastriano is down just 4.3 points. In the blue state of New York, gubernatorial incumbent Kathy Hochul holds a 6.2 point lead over Lee Zeldin, who has quickly closed the gap ahead of Election Day. Independent polls have pointed to Zeldin taking the lead. In Florida’s governor race, incumbent Ron DeSantis holds an 11.5 point lead over Democrat challenger Charlie Crist, according to RealClearPolitics. Even in the deep blue states on the west coast, Republican challengers are closing the gap. https://www.cnbc.com/2022/11/07/consumer-confidence-in-housing-hits-new-low-says-fannie-mae.html Consumer confidence in the housing market hits a new low, according to Fannie Mae Rising mortgage rates, high home prices and uncertainty in the overall economy have Americans feeling more pessimistic about the state of the housing market. In October, just 16% of consumers said they thought now is a good time to buy a home, according to a monthly survey by Fannie Mae. That is the lowest share since the survey began in 2011. The share of respondents who thought now is a good time to sell a home also dropped from 59% to 51%. Fannie Mae’s survey looks not just at buying and selling but tests sentiment about home prices, mortgage rates and the job market. It combines them all into one number, which also fell for the eighth straight month and now sits at a new low. A higher share of consumers, 37%, said they expect home prices to drop in the next 12 months. That compares with 35% in September. More also believe mortgage rates will rise. Fast-rising interest rates are what turned the red-hot housing market on its heels in early summer. The average rate on the popular 30-year fixed mortgage started the year near a record low, around 3%. By June it crossed 6%, and it’s now just over 7%, according to Mortgage News Daily. “As continued affordability constraints reduce homebuyer demand, and homeowners become reluctant to sell at potentially reduced prices, we expect home sales to slow even further in the coming months, consistent with our forecast,” wrote Doug Duncan, Fannie Mae’s chief economist, in a release. Home prices dropped again in September, according to Black Knight, albeit at a slower monthly pace than they did in July and August. Prices are now down 2.6% since June, the first three-month decline since 2018, when interest rates also rose. It is the worst three-month stretch for home prices since early 2009. Prices, however, were still 10.7% higher in September than the same month last year. https://www.dailywire.com/news/judge-blocks-ny-gun-law-excoriates-democrats-trying-to-eviscerate-the-bill-of-rights Judge Blocks NY Gun Law, Excoriates Democrats Trying To ‘Eviscerate The Bill Of Rights’ A Trump-appointed judge in New York last week blocked a gun law from taking effect and took Democrats to task for trying to “eviscerate the Bill of Rights.” U.S. District Judge John Sinatra Jr. issued an injunction blocking a gun law that bars people in New York from bearing arms in places of worship. “The court reiterates that ample Supreme Court precedent addressing the individuals right to keep and bear arms – from Heller and McDonald to its June 2022 decision in [New York State Rifle & Pistol Association Inc. v. Bruen] – dictates that New York’s new place of worship restriction is equally unconstitutional,” Sinatra said, The Daily Caller reported. “The Constitution and the Bill of Rights are the Status quo – not 2022 legislation on the books for nine weeks,” the judge continued, taking aim at the Democrat-controlled New York legislature. “Legislative enactments may not eviscerate the Bill of Rights. Every day they do is one too many.” “The nation’s history does not countenance such an incursion into the right to keep and bear arms across all places of worship across the state,” Sinatra wrote. “The right to self defense is no less important and no less recognized at these places.” The federal judge in October issued a temporary hold on the law, similarly writing, “In Bruen, the Court made the Second Amendment test crystal clear: regulations in this area is permissible only if the government demonstrates that the regulation is consistent with the Nation’s historical tradition of sufficiently analogous regulations. … New York fails that test. The State’s exclusion is, instead, inconsistent with the Nation’s historical traditions.” In its New York State Rifle & Pistol Association Inc. v. Bruen decision, the U.S. Supreme Court in June ruled that longtime restrictions New York placed on carrying concealed firearms run in violation of Americans’ Second and 14th Amendment rights, The Daily Wire reported. The case centered on a 1911 New York state law that conditioned the right to a concealed carry permit on “good moral character” and “proper cause.” The Supreme Court majority opinion, written by Justice Clarence Thomas, took issue with the latter condition, which unlawfully forced New Yorkers to demonstrate “a special need for self-defense.” “We know of no other constitutional right that an individual may exercise only after demonstrating to government officers some special need,” Thomas wrote. “That is not how the First Amendment works when it comes to unpopular speech or the free exercise of religion. It is not how the Sixth Amendment works when it comes to a defendant’s right to confront the witnesses against him. And it is not how the Second Amendment works when it comes to public carry for self-defense.” FLF Magazine: We are on a mission to make magazines great again. So, subscribe to our Fight Laugh Feast magazine. This is a quarterly mini-book like experience, packed full of a variety of authors that includes theologically-driven cultural commentary, a Psalm of the quarter, recipes for feasting, laughter sprinkled throughout the glossy pages, and more. Sign your church up, sign your grumpy uncle up, and while you are at it…sign up the Pope, Elon Musk, and Russel Moore. Disclaimer: This magazine will guarantee various responses and CrossPolitic is not held liable for any of them. Reading the whole magazine may cause theological maturation, possibly encourage your kids to take the Lord’s Supper with you, and will likely cause you to randomly chuckle in joy at God’s wondrous world. In addition to all of the above… starting next year, if you’re a platinum club member, you’ll get a magazine subscription for free! So if you’re not a club member yet… Sign up today! Four issues and $60 per year (unless you’re a platinum club member), that is it. Go to fightlaughfeast.com right now to sign up!. https://thepostmillennial.com/breaking-press-sec-says-bidens-words-were-twisted-when-he-said-he-wanted-to-shut-down-coal-plants?utm_campaign=64487 Press sec says Biden's 'words were twisted' when he said he wanted to shut down coal plants During a White House press briefing on Monday, Press Secretary Karine Jean-Pierre was asked about Joe Biden's remarks on Friday where he promised to shut down coal plants across the country and she said it was "a bit loud and hard to hear." https://rumble.com/v1sb6as-november-7-2022.html - Play Video On Friday, Biden promised to permanently end coal production in the United States while speaking in Carlsbad, California at a political event "touting his administration's economic policies." Biden claimed that the US is going to "become a wind generation" and "it’s going to save them a hell of a lot of money and using the same transmission line that they transmitted the coal-fired electric on, we're going to be shutting these plants down all across America and having wind and solar power." In response Joe Manchin, the Democratic senator from West Virginia, said on Saturday that President Biden's comments were "outrageous" and that the president owed coal miners an "immediate and public apology." After Manchin's response, Jean-Pierre put out a statement that read, "The President’s remarks yesterday have been twisted to suggest a meaning that was not intended; he regrets it if anyone hearing these remarks took offense." "The President was commenting on a fact of economics and technology: as it has been from its earliest days as an energy superpower, America is once again in the midst of an energy transition," the statement read, indicating that the US must embrace "clean and efficient American energy." Armored Republic The Mission of Armored Republic is to Honor Christ by equipping Free Men with Tools of Liberty necessary to preserve God-given rights. In the Armored Republic there is no King but Christ. We are Free Craftsmen. Body Armor is a Tool of Liberty. We create Tools of Liberty. Free men must remain ever vigilant against tyranny wherever it appears. God has given us the tools of liberty needed to defend the rights He bestowed to us. Armored Republic is honored to offer you those Tools. Visit them, at ar500armor.com https://www.theepochtimes.com/court-orders-true-the-vote-leaders-released-from-jail_4846717.html?utm_source=partner&utm_campaign=BonginoReport Court Orders Release of True the Vote Leaders From Jail Two leaders of the election integrity group True the Vote were released from jail after an appeals court overruled a judge’s order that they be detained for contempt of court. Catherine Engelbrecht and Gregg Phillips were ordered released by a panel on the U.S. Court of Appeals for the 5th Circuit late on Nov. 6. “IT IS ORDERED that Petitioners’ opposed motion for release from detention is GRANTED pending further order of this court,” the panel said in the order, which was obtained by The Epoch Times. The panel consisted of Circuit Judges Catharina Haynes, a George W. Bush appointee; Kurt Engelhardt, a Donald Trump appointee; and Andrew Oldham, a Trump appointee. Engelbrecht and Phillips were released on Nov. 7. Engelbrecht and Phillips were sent to jail on Oct. 31 by U.S. District Judge Kenneth Hoyt, a Reagan appointee, who found them in contempt of court for not revealing the identities of people who allegedly accessed information from Konnech, a Michigan-based election management software company whose founder was recently arrested for allegedly stealing poll worker data and hosting the information on servers in China. The order for confinement was to be in place until the defendants “fully comply” with an order that they reveal certain information, including the identities, Hoyt said. Engelbrecht and Phillips say they passed on information that was legally obtained from Konnech to the FBI. One of their attorneys identified one of the individuals in question, Mike Hasson, during an October hearing. But they have declined to share the name of the second person. Both the individuals are FBI informants, Phillips asserted during one hearing. The contempt order came after Konnech sued True the Vote and its founders for defamation. In its opposition to the petition, Konnech said that the True the Vote founders were trying to “strip the District Court of its contempt power” and that they “have no one but themselves to blame for their confinement” after defying Hoyt’s order. Lawyers for the firm said, “Petitioners’ imprisonment is not an emergency especially in this case where the Petitioners are contemnors and recalcitrant witnesses who hold the keys to the jailhouse, and can free themselves immediately upon purging their contempt.” Alright, now it’s time for my favorite topic, sports! Last week, the Houston Astros, did this: The Astros win the World Series! Play 0:00-0:17 https://nypost.com/2022/11/06/dusty-baker-finally-wins-world-series-as-a-manager/ HOUSTON — The Astros’ manager stood on the stage where the World Series trophy was presented late Saturday night and channeled his inner Jimmy Johnson. “How about those Astros!” Dusty Baker said. After 25 seasons managing in the major leagues and two previous trips to the World Series, Baker is finally a world champion manager. With the Astros’ 4-1 victory over the Phillies in Game 6, the 73-year-old Baker became the oldest manager to lead a team to a World Series title. Hired to stabilize the organization before the 2020 season — in the aftermath of the team’s sign-stealing scheme from 2017 that cost former manager A.J. Hinch his job — Baker might now be the most popular man in Texas. Baker took the Giants to Game 7 of the World Series in 2002 before they lost to the Angels. Under his guidance last season, the Astros made it to the World Series before losing to the Braves in six games. The Astros rolled to the AL West title this season, winning 106 games, before starting the postseason 7-0 with ALDS and ALCS sweeps of the Mariners and Yankees, respectively. The Phillies, however, jumped ahead 2-1 in the World Series, before the Astros closed it out with three straight victories.
In this Real Estate News Brief for the week ending May 21st, 2022… forbearance claims hit a two-year low, rent levels are setting new records, and a new list of the “best places to live”. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.Economic NewsWe begin with economic news from the past week, and comments from Fed Chief Jerome Powell about the central bank's resolve to fight inflation. He told the Wall Street Journal that “restoring price stability is… something we have to do” and, he says, “there could be some pain involved.” (1)The Fed approved a 50 basis point increase for the federal funds rate at its last meeting. And, it expects to do the same at the next two meetings. The short-term rate is now within a range of .75 to 1%. Raising it another 100 basis points will bring it to 1.75 to 2%.Powell says it's still possible to avoid a recession, but he's now describing the process as a “soft-ISH” landing. (2) He hopes to control inflation without a big impact on the labor market. He says, if there is a recession he hopes it will be “short and not all that deep.”Many economists are lowering their economic forecasts because of inflation and higher interest rates. That includes Fannie Mae's chief economist Doug Duncan. He says: “Financial conditions have tightened significantly and the economy is slowing faster than previously expected.” Fannie Mae now expects a full-year GDP of 1.3%. That's .8% lower than the previous forecast. The Fannie Mae group is predicting a modest recession in the second half of next year 2023. (3)Jobless claims hit a four-month high last week. There were 218,000 initial claims, which is 21,000 more than the week before. The number of people collecting benefits is still extremely low. 25,000 people dropped off that list last week, for a total of 1.32 million. That's the lowest number of claims since 1969. Economists are watching unemployment numbers closely because they typically rise before a recession. (4) New home construction hit a speed bump for the second month in a row. Housing starts were .2% lower to an annual pace of 1.72 million. Economists blame rising mortgage rates and higher home prices for the slowdown. Permits were down 3.2% to an annual rate of 1.82 million. A drop in single-family construction brought the numbers down. Starts on those projects were down more than 7% while multi-family starts were higher by almost 17%. Builders have shifted their focus to multi-family rental units as they try to meet the demand for housing. (5) Existing home sales were down in April. The National Association of Realtors says they fell 2.4% to a seasonally adjusted annual rate of 5.61 million. If you compare these numbers to a year ago, sales were down almost 6%. As reported by MarketWatch, this is the third straight month that sales have declined. Currently, there's a 2.2 month supply of homes on the market. (6)Mortgage Rates Mortgage rates came down slightly last week. Freddie Mac says the average 30-year fixed-rate mortgage was down 5 basis points to 5.25%. The 15-year was 4.43%. (7) In other news making headlines... Forbearance Claims Hit 2-Year Low The number of home loans in forbearance has now dropped below 1%. According to the Mortgage Bankers Association, forbearance claims dropped from 1.05% in March to just .94% in April. That's about 470,000 loans. The MBA says this is the lowest level since June of 2020, right before the pandemic left many homeowners without a paycheck, and without means to pay their loans. (8) The five states with the highest number of loans in forbearance include: Louisiana, Mississippi, West Virginia, New York, and Oklahoma.The five states with the lowest number of loans in forbearance include: Idaho, Washington, Colorado, Utah, and Oregon. Rent Levels Are Setting New Records Scorching hot demand for rentals is pushing apartment rents higher once again. Realtor.com says the U.S. median rental price hit a new high of $1,827 in April. The year-over-year increase for a studio apartment is 17.2%. For a one-bedroom, it's 15.6%. And, for a two-bedroom, it's 15.9%. (9) Orlando posted the largest rent gains in April at 32.9%. Tampa was next at 27.8%. San Diego, Las Vegas, and Miami were also among the top five rent gainers. “Best Place to Live” in 2022 When it comes to a great rental market, it doesn't hurt to score a top spot on a list of “best places to live.” And that's what you'll find on the latest U.S. News & World Report list which places Huntsville, Alabama at the top. The report analyzes several metrics including affordability, quality of life, health care, employment, and crime. (10)Editor Devon Thorsby says: “Much of the shakeup at the top of this year's ranking is a result of changing preferences.” He says: “People moving across the country today are putting more emphasis on affordability and quality of life than on the job market.” If you're curious about the other 11 cities on the list, here they are: Colorado Springs, Colorado; Green Bay, Wisconsin; Boulder, Colorado; San Jose, California; Raleigh and Durham, North Carolina; Fayetteville, Arkansas; Portland, Maine; Sarasota, Florida; San Francisco; Ann Arbor, Michigan; and Naples Florida. That's it for today. Check the show notes for links. And please remember to hit the subscribe button, and leave a review! You can also join RealWealth for free at newsforinvestors.com. As a member, you have access to the Investor Portal where you can view sample property pro-formas and connect with our network of resources, including experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more.Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.wsj.com/articles/feds-powell-to-take-wsj-questions-on-inflation-and-economic-outlook-116527798022 -https://www.marketwatch.com/story/powell-says-a-softish-landing-for-u-s-economy-is-plausible-11652812959?mod=economy-politics3 -https://www.fanniemae.com/newsroom/fannie-mae-news/rapidly-rising-rates-and-persistent-inflation-further-soften-economic-outlook4 -https://www.marketwatch.com/story/u-s-unemployment-claims-climb-to-four-month-high-of-218-000-11652963872?mod=economy-politics5 -https://www.marketwatch.com/story/home-builders-slow-new-construction-for-second-month-in-a-row-as-demand-softens-11652877792?mod=coronavirus6 -https://www.marketwatch.com/story/existing-homes-sales-fall-for-third-straight-month-in-april-11652969139?mod=economic-report7 -https://www.freddiemac.com/pmms8 -https://nationalmortgageprofessional.com/news/mortgages-forbearance-dip-below-19 -https://magazine.realtor/daily-news/2022/05/19/rents-jump-to-new-record-once-again10 -https://magazine.realtor/daily-news/2022/05/18/best-place-to-live-is-down-south
Austin chats in studio with Columbia County Chairman Doug Duncan about the District 4 primary situation.
Austin talks with Columbia County Commission Chairman Doug Duncan about the promotional video posted to the County's Facebook page.
With the cost of a mortgage going up, find out what that means for buyers, builders and investors, Doug Duncan, Chief Economist at Fannie Mae, joins me for an interview and offers details. Then we'll listen for the sounds of the Serengeti, in Frankfurt, Germany, my European colleague, Scott Solano, explains. And what do sanctions against Russia actually smell like? Learn more about your ad choices. Visit megaphone.fm/adchoices
With the cost of a mortgage going up, find out what that means for buyers, builders and investors, Doug Duncan, Chief Economist at Fannie Mae, joins me for an interview and offers details.Then we'll listen for the sounds of the Serengeti, in Frankfurt, Germany, my European colleague, Scott Solano, explains.And what do sanctions against Russia actually smell like?Learn more about your ad choices. Visit megaphone.fm/adchoices
Douglas G. Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Duncan also oversees strategic research regarding the potential impact of external factors on the housing industry. He leads the House Price Forecast Working Group reporting to the Finance Committee. Under his leadership, Fannie Mae's Economic & Strategic Research Group (ESR) won the NABE Outlook Award, presented annually for the most accurate GDP and Treasury note yield forecasts, in both 2015 and 2016 – the first recipient in the award's history to capture the honor two years in a row. In addition, ESR was awarded by Pulsenomics for best home price forecast. Named one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate, Duncan is Fannie Mae's source for information and analyses on demographics and the external business and economic environment; the implications of changes in economic activity on the company's strategy and execution; and for forecasting overall housing, economic, and mortgage market activity. Prior to joining Fannie Mae, Duncan was Senior Vice President and Chief Economist at the Mortgage Bankers Association. His experience also includes work on the Financial Institutions Project at the U.S. Department of Agriculture and service as a LEGIS Fellow and staff member with the Committee on Banking, Finance, and Urban Affairs for Congressman Bill McCollum in the U.S. House of Representatives. Duncan received his Ph.D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show
Douglas G. Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Duncan also oversees strategic research regarding the potential impact of external factors on the housing industry. He leads the House Price Forecast Working Group reporting to the Finance Committee. Under his leadership, Fannie Mae's Economic & Strategic Research Group (ESR) won the NABE Outlook Award, presented annually for the most accurate GDP and Treasury note yield forecasts, in both 2015 and 2016 – the first recipient in the award's history to capture the honor two years in a row. In addition, ESR was awarded by Pulsenomics for best home price forecast. Named one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate, Duncan is Fannie Mae's source for information and analyses on demographics and the external business and economic environment; the implications of changes in economic activity on the company's strategy and execution; and for forecasting overall housing, economic, and mortgage market activity. Prior to joining Fannie Mae, Duncan was Senior Vice President and Chief Economist at the Mortgage Bankers Association. His experience also includes work on the Financial Institutions Project at the U.S. Department of Agriculture and service as a LEGIS Fellow and staff member with the Committee on Banking, Finance, and Urban Affairs for Congressman Bill McCollum in the U.S. House of Representatives. Duncan received his Ph.D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show
At one point in the pandemic, the rate of nursing home deaths in Colorado was the worst in the nation. How did the state get to that point? CPR's Ben Markus lifts the curtain on his heartbreaking investigation. Then, political spies in the American West. Plus, CU astronomer Doug Duncan on the recent UFO report. And a mouthwatering cookbook is back in print!
Douglas G. Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Duncan also oversees strategic research regarding the potential impact of external factors on the housing industry. He leads the House Price Forecast Working Group reporting to the Finance Committee. Under his leadership, Fannie Mae's Economic & Strategic Research Group (ESR) won the NABE Outlook Award, presented annually for the most accurate GDP and Treasury note yield forecasts, in both 2015 and 2016 – the first recipient in the award's history to capture the honor two years in a row. In addition, ESR was awarded by Pulsenomics for best home price forecast. Named one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate, Duncan is Fannie Mae's source for information and analyses on demographics and the external business and economic environment; the implications of changes in economic activity on the company's strategy and execution; and for forecasting overall housing, economic, and mortgage market activity. Prior to joining Fannie Mae, Duncan was Senior Vice President and Chief Economist at the Mortgage Bankers Association. His experience also includes work on the Financial Institutions Project at the U.S. Department of Agriculture and service as a LEGIS Fellow and staff member with the Committee on Banking, Finance, and Urban Affairs for Congressman Bill McCollum in the U.S. House of Representatives. Duncan received his Ph.D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show
Douglas G. Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Duncan also oversees strategic research regarding the potential impact of external factors on the housing industry. He leads the House Price Forecast Working Group reporting to the Finance Committee. Under his leadership, Fannie Mae's Economic & Strategic Research Group (ESR) won the NABE Outlook Award, presented annually for the most accurate GDP and Treasury note yield forecasts, in both 2015 and 2016 – the first recipient in the award's history to capture the honor two years in a row. In addition, ESR was awarded by Pulsenomics for best home price forecast. Named one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate, Duncan is Fannie Mae's source for information and analyses on demographics and the external business and economic environment; the implications of changes in economic activity on the company's strategy and execution; and for forecasting overall housing, economic, and mortgage market activity. Prior to joining Fannie Mae, Duncan was Senior Vice President and Chief Economist at the Mortgage Bankers Association. His experience also includes work on the Financial Institutions Project at the U.S. Department of Agriculture and service as a LEGIS Fellow and staff member with the Committee on Banking, Finance, and Urban Affairs for Congressman Bill McCollum in the U.S. House of Representatives. Duncan received his Ph.D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show
This week's guest is Doug Duncan. Doug is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Duncan heads strategic research regarding the potential impact of external factors on the housing industry. He leads the House Price Forecast Working Group reporting to the Finance Committee. See full video and resources.Bruce and Doug will discuss Modern Monetary Theory, interest rates and what will the lasting changes that COVID-19 will have on Americans and the housing market.The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show
Bruce Norris is joined this week by Doug Duncan. Doug is the Chief Economist at Fannie Mae. He is responsible for managing Fannie Mae's Strategy Division and Economics & Mortgage Market Analysis Groups. In this leadership role, Duncan provides all economic, housing, and mortgage market forecasts and analyses, and serves as company's thought leader and spokesperson on economic and mortgage market issues. See full video and resourcesBruce and Doug will discuss the economy and how the Corona-virus has, is and will continue to impact Americans. Are we in a recession and what kind of recovery will we have? V shape, W, Square root? Nike Swoosh? Don't miss this week's show.The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show
The state requires 90% of health care workers to get flu vaccines, but CPR's Andrea Dukakis found that some facilities might not be following the rules closely enough. Then, what's next now that the BLM's new headquarters is open in Grand Junction. Plus, pondering puffy planets with CU astronomer Doug Duncan. And could El Paso County one day outgrow Denver?
Anand Srinivasan, Senior Semiconductor and Hardware Analyst for Bloomberg Intelligence, on the Qualcomm-Apple settlement and what it means for chip stocks. Doug Duncan, Chief Economist at Fannie Mae, on the spring buying season, outlook for mortgage rates, and consumer attitudes on housing. Tuna Amobi, CFRA Research's media and entertainment analyst, on Netflix and big media earnings. Jitendra Waral, Senior Analyst: Internet & Consumer Products for Bloomberg Intelligence, on Pinterest's IPO. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
David Malpass, Donald Trump Economic Advisor, says Trump will cut taxes for everyone; Dominic Konstam, Deutsche Bank Global Head of Rates Research, "stunned" by poor productivity numbers; David Kotok, Cumberland Advisors Chairman, previews Jackson Hole; and Doug Duncan, Fannie Mae Chief Economist, discusses the housing market. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Tom Keene and Michael McKee bring you the best in economics, finance, investment and international relations. Today in Surveillance, they discuss the state of the market with Macro Risk Advisors' Dean Curnutt; the Yen with Rabobank's Jane Foley; housing with Fannie Mae's Doug Duncan; and economic data with BlackRock's Martin Hegarty. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
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