Real estate is cyclical, and boom times are often followed by softer markets. Money saved for retirement offers temporary help, but follow rules and withdraw safely. NEW YORK – Raiding your retirement accounts can be expensive. Withdrawing money before age 59½ typically triggers income taxes, a 10% federal penalty and – worst of all – … Read more
Due to limited supply and strong demand, sales of rental housing for college students hit a record high of $22.9B in 2022. NEW YORK – Housing geared to college students attending popular schools is a rare bright spot in the commercial real-estate business. Student housing rents are poised to grow, boosted by limited supply and … Read more
People need a roof over their heads, making “home” a life necessity – and also, on the side, a good investment. As a result, buying sooner is better than later. DAVENPORT, Iowa – For the vast majority of Americans, their home is their greatest lifetime investment. But as in all investing, timing is everything. The … Read more
According to the Mortgage Bankers Association, the median monthly mortgage payment for a purchase loan rose to an all-time high of $2,165 in May. LOS ANGELES (AP) – Would-be homebuyers are willing to take on sharply higher mortgage payments, even as home prices have begun to pull back this year. The median monthly payment listed … Read more
HUD has $3.1 billion to spend on projects that help the U.S. homeless population, and it’s accepting funding requests until Sept. 28, 2023. WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) will provide more than $3.1 billion in competitive funding to homeless services organizations across the country – the largest amount of … Read more
UF’s June consumer sentiment saw an uptick to 69.3 from May’s 69.1, driven mainly by U.S. economic expectations. It’s the highest reading since Oct. 2021. GAINESVILLE, Fla. – Consumer sentiment in Florida clicked up for a second consecutive month in June to 69.3, an increase of two-tenths of a point from a revised figure of … Read more
A court case alleges the new law discriminates, and Fla. submitted a 59-page doc saying no – that it’s consistent with tradition and necessary to fight foreign influence. TALLAHASSEE, Fla. – The state this week pushed back against a challenge to a new law that restricts people from China and six other countries from owning … Read more
After a comment period, the agencies finalized a policy on how to handle commercial loan accommodations and workouts for financially troubled firms. WASHINGTON – Four federal financial regulatory agencies – Office of the Comptroller of the Currency, Federal Reserve System, Federal Deposit Insurance Corporation and the National Credit Union Administration – jointly issued a final … Read more
NEW YORK – The insurance industry is increasingly wary of the risks presented by climate and natural disasters, prompting major firms to scale back their presence in more vulnerable states. In June, Farmers Insurance announced in a company memo it will no longer write new property insurance policies in Florida, citing “catastrophe costs … at … Read more
On July 1, a Fla. sales tax exemption period began for Energy Star appliances, but there’s no rush to buy: It runs for a full year, through June 30, 2024. TALLAHASSEE, Fla. – Florida’s latest sales-tax holiday start on Saturday, July 1, and this one runs for a full year – through June 30, 2024. … Read more
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