Facebook Twitter NewsHousingRents in Limerick city rise despite national rate coolingBy Rose Rushe – February 14, 2020 686 WhatsApp Advertisement TAGSdaft.ie Q$ 2019Irish Property Owners AssociationProfessor Ronan LyonsRental Tenancies Board Print THE last quarter for which we have national statistics for the rate at which rents fluctuate in the 26 counties is Q4 of 2019. Daft.ie’s reports issued four times annually are met with interest, given the enormous database from which it collates statistics.This portal to residential (and commercial) rentals and sales is used by virtually all estate agents and by private landlords who eschew an agency to let and maintain properties.Sign up for the weekly Limerick Post newsletter Sign Up Note the Daft infographic that shows the biggest increase in rents charged in the country were in Limerick. This is true of the city especially, presenting an 8.3 per cent gain over Q4 2018. Properties in adjacent Clare were charging almost 8 per cent more than in the last quarter of 2018.The FG-FF coalition is deemed to have fallen on the twin spears of Housing and Health. Swathes of the electorate who voted were unmoved by a 95 per cent employment rate, years of slog for a stable Brexit and Ireland ranked by the UN in December as 3rd best country in the world for quality of life (pipped by Switzerland and Norway, tops).What is driving rents here up, vis a vis Dublin levelling off with household income maxed out in The Pale?Scarcity. Daft.ie’s analyst Prof Ronan Lyon of TCD makes the point that construction costs for apartments “make it unviable to build the thousands of new rental homes that are desperately needed.”Another factor is the thousands of private landlords bailing out of the sector due to steep taxes and the cost of refurbishment between tenancy turnovers.2019 closing data for rents: €1,402 national average €896 Limerick county€1,167 Limerick city( €667 average mortgage)Feb 2020 – 76 properties availableWith a burgeoning jobs market in the Mid-Wests biopharma, food, finance, tech and aviation sectors, there has been a major influx in professional workers and their families moving to Limerick. From Cook Medical to WP Engine, Johnson & Johnson to Regeneron, recruitment campaigns by locally rooted industry are bringing an educated populace to the Mid-West.For sure, new residential stock is coming on board in the suburbs, in city new builds and the remodelling of older properties. But in a market of rising residential values, owners of landbanks and builders know that their assets are appreciating all the time. Limerick City and County Council is backing a €12mn investment in public housing so future supply is being addressed.The good news is that available rental accommodation nationally has increased by 10 per cent in 2020 since last year. Much of this is driven by tax-friendly house sharing in a landlord’s principal private residence, such contracts being outside the remit of the Rental Tenancies Board. The most recent rental index for the Board is Q3 of 2019. The Irish Property Owners Association (IPOA) had a big reaction to news that there were 21,235 tenancies registered in Q3 2019 compared to 25,448 in Q3 2018.“There was a drop of 17 per cent in the amount of tenancies registered,” commented Stephen Faughnan of the IPOA. “Rent Pressure Zones limit the income of investors without limiting the cost of the provision of the accommodation. Property owners who rewarded good tenants by keeping the rent low have been unfairly and substantially disadvantaged.“A recent survey carried out by IPOA revealed that 31 per cent of landlords were sub-venting their mortgage from other income, and 71 per cent of landlords were letting below market rent. 25 per cent of landlords had rent [pegged at] 33 per cent below market rent.”Mr Faughan went on to state that “sadly, 44 per cent of landlords surveyed stated that they intended to leave the market in the next five years.”Another statistic: “Between 2016 and 2018 over 2000 landlords left the sector and over 12,000 rental homes are no longer available.” Email Linkedin Previous article€6m investment brings 50 new jobs to BallinaNext articleJoe Rooney: Shut up and laugh Rose Rushehttp://www.limerickpost.ieCommercial Features and Arts Editor at Limerick Post
The Best Markets For Residential Property Investors 2 days ago Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] The Week Ahead: Nearing the Forbearance Exit 2 days ago The Policy Makers Editor’s Note: This story was originally featured in the April issue of DSNews, out now.Peter Wallison is the first to admit that his beliefs on housing policy may be controversial. However, having served as White House Counsel under President Ronald Reagan, as General Counsel of the U.S. Treasury Department from 1981 to 1985, and now as the Arthur F. Burns Fellow in Financial Policy Studies at the American Enterprise Institute, he has no problem fighting for his beliefs at the highest level.Recently, Wallison took a bold stance by declaring the U.S. Treasury Department “rogue” in an op-ed for The Wall Street Journal. In the piece, Wallison voiced his confusion that the Treasury Department seems to be veering away from the Trump administration’s overall focus on deregulation.In January, Secretary of the Treasury Steven Mnuchin stated that reform of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac was a top priority for the Trump administration, but cautioned that it was important that the government continue to support the mortgage market. During a Senate Banking Committee hearing, Mnuchin expressed commitment to maintaining the 30-year fixed-rate mortgage backed by a government guarantee. “I don’t think the private markets on their own would support it. As we talk about GSE reform, we need to make sure we don’t do something that would put that at risk.”However, he also stressed the importance of “substantial private capital” being involved in any new system, so as to limit taxpayer risk. “If there is any guarantee, [it is important] that taxpayers are paid for putting that up, as opposed to explicit guarantees that weren’t compensated in the past,” Mnuchin said.Wallison’s stance is rather different. “I think the most important thing to understand is that the only reason for the government to be involved in the housing finance system is to help low and medium income families buy homes,” Wallison told DS News.After the U.S. economy and the housing market endured the traumatic Great Recession, developing comprehensive policies on housing finance was a crucial aspect of reviving the economy. Now, between an administration that has taken a new stance toward financial policy and the continued fluctuation of the economy, it may be time to take a look at what regulations may need to be updated in the face of today ’s market conditions—controversial or not. To address this, we spoke to some of the industry’s greatest leaders about the lessons they learned during the housing crisis, and how it’s shaping their stance on financial policy today.Characterizing the Post-crisis EraRep. Jeb Hensarling (R-Texas) has been one of the most outspoken proponents of reforming the GSEs, Fannie Mae and Freddie Mac, for some time now. During a December 2017 speech on housing reform, Hensarling didn’t mince words. “The current system is rigid and risky, distortive and inefficient, and it devalues individual choice and inhibits long-term prosperity. In other words, the hybrid GSE model is wrong. It is unfair. It is broken. It is irreparable. It cannot be saved, it cannot be salvaged, it must not be resurrected, and needs to be scrapped.” “A better system would give all Americans the chance to become homeowners,” Hensarling continued, “if they so choose and are qualified, in a way that encourages responsible mortgage lending and promotes long-term economic growth and stability.”The Hon. Edward DeMarco served as the acting Director of the Federal Housing Finance Agency (FHFA) immediately following the crisis from 2009 to 2014 overseeing the conservatorship of the GSEs. Today, he serves as President of the Housing Policy Council at the Financial Services Roundtable. For DeMarco, this is a time that reminds him of the flaws in America’s housing finance system. “That period was a painful reminder of several things,” DeMarco said. “Your home should not be viewed as a piggy bank or even primarily as an investment. It is consumption.”Additionally, DeMarco noted the need for transparency to make financial markets work, as too much of the housing finance system was opaque going into the crisis. However, DeMarco’s most thought-provoking lesson learned during his time at the helm of the FHFA is the reminder that concentrating economic activity on a few players, Fannie Mae and Freddie Mac especially leads to systemic risks.“We should want more competition,” DeMarco explained. “We should want not fewer channels for lending and financing, but more. Another thing, it served as a reminder that encouraging leverage in household balance sheets that exceeds what we allow for banks, is curious public policy. It’s one that creates a lot of risks for households, and in the crisis, it led to terrible damage to the very households policymakers thought they were helping.”DeMarco believes consumers and lenders are more risk-averse in the wake of these changes.While that’s healthy, the negative of this is postcrisis regulations that arguably went too far and today may be limiting credit and innovation in the marketplace. What’s the cure? DeMarco urges establishing equilibrium and balancing regulations with extending credit and encouraging innovation. After the savings and loan crisis, most mortgage credit risks either ended up in a government guarantee program such as Federal Housing Agency (FHA) or Veterans Affairs (VA) or at Fannie Mae and Freddie Mac.According to DeMarco, Fannie and Freddie retained virtually all the credit risk on $5 trillion of mortgages, while operating with a broadly perceived backing of the government. This was reinforced by remarkably weaker capital requirements set in statute, and weaker relative to what banks and thrifts faced.Fundamentally, housing finance reform is about replacing that concentration of mortgage credit risk in two GSEs with a competitive private market for mortgage credit risk that seeks private capital through numerous channels and across many risk holders.“The reason why I advocate for this change is that having multiple sources of capital is more resilient than having just two,” DeMarco said. “It better protects taxpayers, and it naturally leads to investor demand for transparency regarding the risk characteristics of the loans they are supporting. In turn, that should produce more accurate market signals of risk, which benefits both borrowers and lenders.”Hon. Joseph Murin, Chairman of the Board of Chrysalis Holdings JJAM Financial Services, formerly served as President of Ginnie Mae, where his efforts ensured strong support for the housing market during the worst of the housing crisis. He served both the Bush Administration and the Obama Administration during his tenure.“That was a difficult time in our nation and to the housing and mortgage industry,” Murin said. “You really don’t know what you’re getting into when you get into it because it’s almost a baptism by fire.”Ginnie Mae’s monthly issuance that was between $7 billion and $9 billion started to grow rapidly and ultimately peaked at around $70 billion a month, which caused a lot of issues. When Fannie and Freddie were thrown into conservatorship, there was a lot of confusion in the marketplace. Foreclosures began to accelerate and the only liquidity vehicle available then was government loans through Ginnie Mae issuance.“We didn’t have enough domestic buyers, so we had to depend on our Asian buyers to step up and buy more issuance every month, and it was a very turbulent time,” Murin said reflecting. “Obviously, at that time, the agency only had 69 employees, and we weren’t able to get any more employees authorized through the Department of Housing and Urban Development (HUD). So, I will tell you, it caused us a tremendous amount of angst every day in 2008 and 2009.”At the beginning of the post-crisis era, Murin believes the political environment was demonized. “I think the industry was paying its repentance for its sins, but all we were doing was hurting the national economy because housing was at a standstill,” he said. Murin continued, “One thing I learned when I was in Washington is that the end term and consequences of your actions aren’t really understood. When you drop a pebble into a pond of water, those ripples touch all the shorelines, so you have to think about the repercussions when you do something, and sometimes I think that there’s a lack of that.”But what stood out the most to the former Ginnie Mae President during the crisis? It was the resilience of the American people on any level, on anything.“We went through a once-in-a-lifetime traumatic event in the 2008 time period that we saw some really important initiatives come to the forefront,” Murin said. “We saw folks working together because they knew what they were saving were the stability of the American government as related to its finances.”Jack Konyk, Executive Director, Government Affairs, Weiner Brodsky Kider, has over four decades of financial services experience and serves as a voice for the industry with legislators and regulators at all levels of government. For Konyk, reflecting on the post-crisis era involves looking back at the different administrations.According to Konyk, during the Obama administration, there was an extreme reaction to economic circumstances, some it deserved, and some of it not.“There was a willingness upon a lot of the regulatory community to just blame the industry for everything that happened and crackdown, literally, on just about every practice they could find; which caused a great deal of angst,” said Konyk.Of course, the industry was simply reacting to the economic realities of the downturn, but there were a lot of distractions in trying to respond. From lawsuits and regulatory actions to trying to interpret and implement regulations that were incredibly severe. “The industry just knew it was walking on eggs, but it didn’t know exactly where the safe paths were,” said Konyk.As for the current administration, Konyk believes there is an indication that this administration is more willing to look at business as a positive partner in the operation of the economy and not necessarily the enemy. Although, this administration hasn’t been adept at making leadership appointments.One of the greatest issues today, according to Konyk, is the need to place rational, reasonable, regulatory authorities and leaders in key governmental positions who will work toward establishing a marketplace that Americans can rely on, understand, and operate confidently in, without inadvertently causing massive risk to the companies.For the Greater GoodIn June 2017, DeMarco testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs during a hearing on, “Principles of Housing Finance Reform,” as President of the Housing Policy Council (HPC), a division of the Financial Services Roundtable. The HPC’s 32 member-firms are among the nation’s leading mortgage originators, servicers, insurers and mortgage data service and settlement providers. DeMarco testified that these leaders operate in the mortgage market every day and they want it to be healthy and stable for the future to serve their customers—current and future homeowners.“As a trade association and especially one representing the largest players in the market, we seek what’s good for the system as a whole,” DeMarco said. “Competitive balance, effective and understandable regulations that align with good business practices, and opportunities for innovation in serving customers. When I was a regulator, I was concerned with similar end goals.”Just as rulemaking and regulatory oversight involve balancing competing interests for the greater good, so does running a trade association that’s concerned with markets functioning efficiently and effectively. While there aren’t very many policy issues that are cut-and-dried, right and wrong—most inevitably involve trade-off s.“I have come back to a core belief in markets and in basic economic principles,” DeMarco said. “Such as, the benefits of competitions, the importance in considering the incentives that laws and regulations can create, and maintaining some awareness of the law of unintended consequences.”Today, the regulatory framework is undergoing a fresh round of thinking with the new administration and with the new regulators that are taking their seats. Regulators are looking to improve the balance between ensuring there are guardrails in place while making sure those guardrails are not, in fact, limiting access to credit and inhibiting economic growth.“With affordable housing, the discussion is certainly developing. We’re seeing some new ideas emerging about how to encourage sustainable homeownership that’s affordable to folks,” DeMarco said. “The members of HPC see this as an opportune time to address three critical issues in Housing Finance.” Those issues are housing finance reform, improving the FHA program, and creating more opportunity for innovation and the use of technology in mortgage lending. “Each of these issues, dealing with them would enhance economic growth and expand opportunity for consumers,” DeMarco said. “They are enacting housing finance reform.”Ending the conservatorships, giving market participants certainty about the role of government and the market structure in which they’ll compete. Second, modernizing FHA so that lenders may have confidence in how the program operates and can judge and manage the risks involved.Lastly, more significant opportunity for innovation and the use of technology in mortgage lending. That would improve risk management. It would lower cost to borrowers. It would enhance product offerings. And, according to DeMarco, reduce the long and uncertain timelines many families face today in applying for a mortgage.So in sum, the current focus remains on Housing Finance reform, improving the FHA program and creating more opportunity for innovation and the use of technology in mortgage lending.Making dramatic changes to the housing finance system could cause concern for some. During a November 2017 hearing, Ginnie Mae Acting President, Michael R. Bright, spoke before the House Financial Services Committee, where he presented a paper he co-wrote with DeMarco in September 2016 titled, “Toward a New Secondary Mortgage Market.” In response, Rep. Brad Sherman (D-California) stated, “I don’t buy the idea that ‘if it’s not broke, don’t fix it,’ because sometimes you can make things better. But if it’s not broke, don’t break it.”Sen. Elizabeth Warren (D-Massachusetts) has vigorously opposed some of the administration’s attempts to make changes to the Consumer Financial Protection Bureau and various Dodd-Frank regulations, but in the past she has indicated openness to GSE reform. During that same June 2017 Senate Banking Committee hearing, Warren said, “I am all for ending government conservatorship, but I can’t be for reform if it doesn’t address the affordable housing crisis in the country.”As for the government involvement with the housing finance system, Murin believes that as long as the system establishes a secure government backstop, cost of liquidity can maintain itself. According to Murin, moving housing to the private markets will cause the cost of liquidity to go up. So there has to be a consistent abundance of credit available for all levels of borrowers in the marketplace at all times.However, with a fair credit loss responsibility and accountability system that allows the government backstop to stay in place, Murin believes in the creation of a mortgage finance system that can meet the needs of every level of a borrower in the marketplace.Tim Rood serves as Partner of The Collingwood Group, which he co-founded in 2009. Rood brings more than two decades of the mortgage industry and entrepreneurial experience to The Collingwood Group. He advises organizations to optimize the business opportunities and to mitigate and manage the risks in and around Washington, D.C.Rood advises that the housing finance reform proposed is an “old wine in a new bottle” approach. “We need to look no further than the housing crisis to see how private label securitizers with similar product sets, pricing, and capital standards found themselves all rising together during the boom times, and then all crashing to the ground when the rug got pulled out from underneath them,” Rood said. “I fear that some of the things being proposed would set us up for that sort of outcome.”There is a need to take into consideration that the GSEs are designed to be counter-cyclical, which, according to Rood, is critical to the housing market. In bad times, the GSEs will be in every market, every day, with competitive pricing, a facet that comes from their borrowing advantage and implicit guarantee by the federal government.The GSEs can be borrowing competitively, freely all the time. Conversely, some argue that the newly proposed guarantor model would be pro-cyclical. Meaning that the model will work great during strong markets, but when there’s a shock to the system, the GSEs will find themselves challenged to borrow and effectively compete and provide financing.“The things that we’re trying to accomplish in terms of insulating taxpayers, ensuring democratizing access for lenders to the financial markets and that gives pricing parities, already exists and that a couple modifications to the conservative share of the GSEs to make them look more like government utilities, seems to be far less risky than radical reform or wholesale reform that includes essentially hand-grenading these two institutions that have been profitable for years and are serving the market well, under the hopes that a new system will somehow at best be as competitive and as available as the current market system is today.”Standing for ChangeIn Wallison’s view, most things outside of ensuring access to housing can be taken care of by the private sector, for example, automobiles and food. When looking at how the private sector operates in the United States in a very competitive way, most of the things that people want have very stable prices without the government’s involvement at all.“This is an amazing thing that our market produces because of the competition that is involved in the private market,” Wallison said. “So why do we introduce the government into the housing finance system when almost everything else of importance in this country is run by and priced by the private sector?”Wallison strongly urges that taking the government out of the housing system will stabilize housing prices and will provide more opportunity for housing while reducing the risk of another housing bubble. The competition between Fannie Mae and Freddie Mac competing with the FHA has been driving down underwriting standards so they can allow more low-income people to buy homes. However, Wallison believes that the result has been much higher home prices for everyone; especially low and moderate-income families who have been priced out of the market when they’re trying to buy their first home because prices have risen faster than their wages.The private sector in this country produces goods and services at prices people can afford.According to Wallison, there is nothing about housing that is any different from any other private sector. Housing is simply a product.“Let’s see how the housing finance system works without the government and the distortions the government introduces. If we then find that low and moderate income families cannot afford homes, we should rely on some kind of narrow government program that applies only to those families and is run by the FHA,” Wallison suggests.According to Murin, there can be room for an independent Fannie and Freddie that has a catastrophic backstop with the government but that also is fully responsible for the credit losses.“We can’t merge the two, if Fannie and Freddie’s going to stand independently, then they’re going to have to be responsible for their own credit losses if they expect to have a government guarantee,” Murin said. “The explicit guarantee by the federal government is critical, I believe, in our mortgage lending environment. So, without that, the cost of mortgages goes up significantly.”Speaking out, Murin urges the industry, when expressing policy ideals and perspectives, to realize how vital housing and the mortgage industry is to the American economy and to the American worker, especially the middle class and the lower to moderate middle class. “Everybody should be guaranteed a roof over his or her head,” Murin said. “I don’t necessarily think everybody should be guaranteed to own a home because that’s illogical but we have to focus on consistent mortgage credit for lower and moderate-income Americans to ultimately become a homeowner at some point in their life.” Murin continued, “Th at’s where our focus should be. Let’s start with the foundation, let’s rebuild the foundation, let’s commit to that foundation of stability with housing of some kind to bring that family unit back together.”Turning Ideas into ActionAccording to DeMarco, the principles to base an ideal housing policy on are first, fix what’s broken and then preserve what works in support of consumers in the market. Second, the transition from the old system to the new one should avoid disrupting consumers and markets. Third, private capital should bear all but catastrophic mortgage credit risk, so that market discipline contains risk. DeMarco notes that the government should provide an explicit full facing credit guarantee on mortgage-backed securities (MBS), but with a preset mechanism to ensure any catastrophic loses that call upon taxpayers, support will be repaid fully.Next, the government should provide a regulatory framework that is clear and equitable across all participating companies and ensures that participants in the housing finance system operate in a safe and sound manner. Additionally, replace the government protected GSE duopoly with a structure that serves consumers by promoting competition, affordability, transparency, innovation, market efficiency, and broad consumer access to a range of mortgage products.Replace the separate Fannie Mae and Freddie Mac MBS with a single deep and liquid MBS that has multiple issuers, backed by private capital, and wrapped with a government guarantee. And implement the common securitization infrastructure that operates with a uniform set of standards for mortgage servicing, investor disclosure, and dispute resolution.Finally, change the approach to meeting affordable housing goals by utilizing a dedicated funding stream to target individual households where policymakers want to promote a homeownership opportunity. “Targeting those resources in a way that leads not just to more homeowners, but to more sustainable homeownership,” DeMarco said. “It also means modernizing FHA, which needs to be an integral part of this discussion of affordable and sustainable homeownership.”For Konyk, the major principles that must turn into action should be that, first, consumers are informed and then empowered to make their own choices, without a lender having to assume all the responsibility that the borrower may have made a bad choice.“That’s an interesting concept because even in Dodd-Frank, this concept appeared to be clear because they actually created in the CFPB an office of financial education. So they got that, as a country, we’ve done a bad job of educating people in how to exist in the economy.” Konyk continued, “What we need to do is to understand first, that it is a free economy, or at least we purport it to be. Borrowers should be empowered to make choices, and then lenders shouldn’t be penalized for offering choices, as long as they offered them honestly, openly, and with the information necessary for an informed borrower to make a free choice. Those principles don’t seem to be working in a lot of places right now.”The role of the CFPB itself has been very much in question in recent months after President Trump appointed White House Budget Director Mick Mulvaney as Acting Director of the organization. There followed a legal dispute between Mulvaney and CFPB Deputy Director Leandra English, who was appointed to the same role by outgoing CFPB Director Richard Cordray.With both parties claiming they were the rightful inheritor of the position, the decision turned to the courts, which backed Mulvaney through several appeals and challenges. Mulvaney, a longtime critic of the agency, has set a very different course for the CFPB.He requested zero funding for the Bureau during Q2 2018 and in February announced a strategic plan for 2018-2022 that emphasized honoring the Bureau’s statutory responsibilities but going “no further.” In a statement at the time, Mulvaney explained that “pushing the envelope in pursuit of other objectives ignores the will of the American people” and “also risks trampling upon the liberties of our citizens.”Unsurprisingly, this scaling back of the CFPB’s regulatory focus has drawn ire from Sen. Warren, who was an advocate for the creation of the CFPB and a staunch defender of it ever since. She has butted heads with Mulvaney over the proper role of the CFPB, criticizing Mulvaney for scaling back investigations into things such as payday lending practices.Warren has also been pushing back recently against the bipartisan Economic Growth, Regulatory Relief, and Consumer Protection Act, which would scale back some of the regulations put in place by Dodd-Frank after the financial crisis.One of the primary changes is increasing the threshold for enhanced regulatory standards from $50 billion to $250 billion, a change designed to exempt some smaller and mid-sized banks from regulations that would still apply to the larger banking entities. The bill also exempts banks with less than $10 billion in assets from the Volcker Rule, which limits risky trading by U.S. banks, and dials back restrictions on small and regional banks when it comes to restrictions on mortgage lending. As the bill headed toward a final vote in the Senate, Warren warned that “If we lose the final vote next week, we’ll be paving the way for the next big crash. It’s time for the rest of us to fight back and demand that Washington work for us, not the big bank lobbyists.”Overall, the industry needs to look at the weaknesses in certain things, but it isn’t the same as saying, “Well, we’ve always done it this way, so this must be good.” Instead, it needs to say, “Look, this may be better. Here are the pitfalls. Here are the safeguards against them. And this is how we should be moving forward.” Konyk strongly urges that despite the current active market, without taking action and fixing the problems now, the next downturn will come and cause panic again.“You don’t want to fix them in a panic. The time to fix them is now.” And the only way to do so is if policymakers from different parties, views, and perspectives can get to the table without the animosity. The housing system will only reach progress out of frank, open conversation and the understanding that each side has its reasons for its beliefs.“The way we get ahead in this country is we realize that we’re not going to get everything we want,” Konyk said. “But, we need to find the way to get the optimum solution, understanding that there’s got to compromise to move forward. We’re not in that frame of mind right now in any of the pairings that you talk about. We just have to find a way to get by it.” Share Save CFPB Dodd-Frank Act Fannie Mae FHFA Financial Crisis Freddie Mac Ginnie Mae Government Regulations 2018-04-03 Nicole Casperson Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Houston Still Has Unspent Relief Funds from Hurricane Ike Next: For Waterfront Properties, Is Location Everything? Tagged with: CFPB Dodd-Frank Act Fannie Mae FHFA Financial Crisis Freddie Mac Ginnie Mae Government Regulations Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles in Daily Dose, Featured, Print Features Home / Daily Dose / The Policy Makers Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Nicole Casperson Demand Propels Home Prices Upward 2 days ago April 3, 2018 4,047 Views Servicers Navigate the Post-Pandemic World 2 days ago Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Subscribe
RELATED ARTICLESMORE FROM AUTHOR Important message for people attending LUH’s INR clinic News, Sport and Obituaries on Monday May 24th Google+ Facebook Twitter Pinterest AudioHomepage BannerNews Derry draw with Pats: Higgins & Thomson Reaction By News Highland – February 6, 2019 Facebook Google+ WhatsApp Pinterest “Special place in hell” for those who promoted Brexit – Tusk Previous article2019 Donegal Tourism brochure is officially launchedNext articleWinning EuroMillions ticket sold in Raphoe News Highland Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2019/02/dtusk1pm.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Twitter DL Debate – 24/05/21 WhatsApp The President of the European Council says he’s been wondering what the special place in hell looks like for those who promoted Brexit without any plan to do it.Donald Tusk says the EU will make no new offer in the Brexit negotiations.He was speaking at a joint press conference with Taoiseach Leo Varadkar in Brussels in the past few minutes.They’ve been meeting to discuss Irish and EU preparations in the event of a “no deal” scenario.Donald Tusk had this message for those who promoted Brexit………… FT Report: Derry City 2 St Pats 2 Arranmore progress and potential flagged as population grows
Graham Quirk had lots to say about Brisbane during long pauses between bids at Saturday’s auction. Picture: Steve Pohlner.And while he is on their team in a voluntary role, there was no International Olympic Organising Committee to sweeten the bidding here, so he was forced to place another vendor bid of $700,000.“Just to keep things rolling and what we’ll do now is bid in $10,000s,” Mr Quirk said.At this point, the Googan family asked about auction practices.“The vendor can bid as long as you can,” Karalis Real Estate’s lead agent Michael Sunderland explained to the family.“In NSW it’s one only, but in Queensland it’s as many times as you want.”Soon after this, Lily threw up paddle number eight and entered her first auction with a bid of $720,000 and what followed was a series of three quick-fire bidding volleys over five minutes between Lily and the Googans, during which the price got to $796,000. The largely local crowd gather to see Graham Quirk’s first auction, at 6 Archiva St, Mount Gravatt East: Picture: Steve Pohlner.“G’day, I’m lucky to have you all here,” Mr Quirk said, before reporting in for duty.“I’ve got the gavel, let’s hope I can bring it down.” Part way through the auction, a real estate agent’s mobile phone started ringing to the sound of Fatboy Slim’s Weapon of Choice. Nobody was shocked by the tone of Graham Quirk’s voice. Picture: Steve Pohlner.The opening bid of $500,000 came from Peter Lukose, who was prepared to go to $650,000 but no further as his wife had not seen the house he was bidding on.“He’s 101 per cent for me,” Mr Lukose said of Graham Quirk’s first day on the job.“He’s a little bit tricky, going to the market, then winding us up, that’s a trick.“But the way he presented, just very nice, because he know every piece and corner of Brisbane.”Bidding against Mr Lukose was Peter Googan and his family from Holland Park.More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoThe winning bidders James & Mae Googan, with their children Liam, 3yrs & Flynn, 6yrs. Karalis Real Estate agent Michael Sunderland (left) stood beside them during the auction. Picture: Steve Pohlner.“I think he was a little bit nervous,” Mr Googan said afterwards.“We didn’t know who he was to be honest.“We’re originally from Sydney and we came here about a year ago, but it wasn’t until we showed the listing to other people at work and they knew who he was. They were really excited. They were surprised, they thought he was still mayor I think.”Mr Quirk recommended $50,000 bids to start and found the going tough so at $550,000 with Mr Googan in front he was forced to place a vendor bid of $600,000.Mr Googan replied with $650,000 and then there was another long pause, during which Mr Quirk launched into a city sales pitch that would have made Queensland’s Olympic bid organisers proud to have him on their team. We’re not sure how much he’s charging for his auctioneering duties but Graham Quirk’s number plate might give us a hint. Picture: Steve Pohlner.“This is your virgin auction,” said Mount Gravatt East resident Dale Hanley, who was propped up on a pre-war shooting stick on the front lawn as part of the 80-strong neighbourhood welcome party for former Lord Mayor Graham Quirk. Racing champ to sell Brisbane house Graham Quirk congratulates the winning bidders. Picture: Steve Pohlner.“I’d give myself a seven out of 10,” Mr Quirk said afterwards.“I’ve got a lot of improvement that will come very quickly because today was a bit of an unnatural environment with the media around,” he said.“Not that that’s an unnatural environment for me but it still is in this set of circumstances.” He also had his Racing Queensland board member badge pinned to his jacket, but it would still take the best part of half an hour before the gavel came down on 6 Archiva St, Mount Gravatt East at $796,000, with two vendor bids, three active bidders, and not a single pause to negotiate. Brisbane’s million-dollar suburb boom MORE REAL ESTATE STORIES Graham Quirk wore his Racing Queensland badge during the auction and was heading to the races for the afternoon. Picture: Steve Pohlner.It was 12.52pm, and the hottest part of the day, when Mr Quirk asked for the crowd’s indulgence to seek instruction from the vendor about whether the property was on the market, but there was no escaping the spotlight or the heat.“I’ve done it for you,” Mr Sunderland said by the auctioneer’s ear.“Oh, well, you’re ahead of yourself,” replied Mr Quirk.“Well ladies and gentlemen I’ve just had word … that this property is now on the market.”There were no further bids and the property went to the Googan family. FOLLOW DEBRA ON TWITTER Graham Quirk at his first auction as a professional auctioneer on Saturday. Picture: Steve Pohlner.A COUCH cushion in the house said ‘enjoy today’, but there were nerves all around as rookie bidders stood in front of a rookie auctioneer who just four months ago was the Lord Mayor of Brisbane.
For years the SEC has dominated the college football landscape, ruling the AP poll and sending one or two teams to the National Championship almost every year. In the past few years, however, the power has appeared to be shifting. Leading up to the 2017 season, the Big Ten was improving rapidly due to new coaching hires and an expanding recruiting landscape. Sports Illustrated even listed them as the No.1 conference in college football coming into that season. This was specifically due to the emergence of the Big Ten East as one of the strongest divisions in the country, and to the regression of the SEC in 2016. For the first time since 2005, the conference had a losing record against other power five schools. During the 2017 season, the Big Ten lived up to the preseason hype, going 14-6 against other power five conferences, the only conference with a winning record in out of conference play against power five teams. The Big Ten ended that year with three teams in the top 10, five in the top 25, and earned a nationwide consensus that the conference was quickly improving. Since the end of the 2017 season, however, the power has returned to the south.Women’s hockey: Badgers roll to smooth victory against Lindenwood after shaky first gameThe University of Wisconsin women’s hockey team (2-0-0) won their first two games over the weekend versus Lindenwood (0-2-0) in Read…Entering the 2018 season, the Big Ten had five teams in the AP top 25, including three in the top 10 and Wisconsin as No. 4. Alternatively, the SEC also sported five teams in the top 25, three in the top 10, but had two in the top five with Alabama as the No.1 team in the nation. Entering the season, it’s fair to say that the two conferences were as close to even as it could get, as they had the same number of top 25 and top 10 teams, and each had their share of bad teams sitting at the bottom of the conference. The two big wild cards coming into the year whose success, or lack thereof, would go far towards putting separation between the conferences were Nebraska, with new head coach Scott Frost coming off an undefeated season at UCF, and Wisconsin, who began the year with a legitimate shot at the College Football Playoff. If Nebraska and Wisconsin were to impress in 2018, it was likely that the Big Ten would overcome the SEC as the nation’s top conference, but four weeks into the season, the opposite has happened.Nebraska started the season playing as bad as a team can play. Their 33-28 loss to PAC 12 team Colorado, 24-19 loss to Sun Belt team Troy and 56-10 loss to fellow Big Ten School Michigan not only shows that they aren’t improving under first year head coach Scott Frost, but it also shows they have regressed significantly — a bad result for the success of the Big Ten. The other wild card, Wisconsin, has been arguably more disappointing. Wisconsin is known to schedule easy out of conference games to begin the year and dominate the weak Big Ten West during the season, often leading them to the Big Ten Championship. Coming into week three of the season at 2-0, all was going as planned with BYU getting ready to visit Madison. BYU won the week three game 24-21, putting a gash in the Badgers’ playoff hopes and setting the Big Ten back significantly. While Wisconsin won the next week in Iowa, their playoff chances remained slim, a trend opposite to that of many SEC schools. Men’s soccer: Badgers grind out road win over Marquette, look toward Michigan StateThe University of Wisconsin men’s soccer (4–4–1, 1–1 Big Ten) claimed their second consecutive road win with a 1–0 victory Read…Since beginning the year with five top 25 teams, three top 10, and two top five teams, the SEC has dominated across the board. Four weeks removed from the preseason poll, the conference now has six teams in the top 25, four in the top 10, and three in the top five, including both No. 1 and No. 2. These numbers all best those of the Big Ten, showing that the SEC remains the nation’s best conference, though the Big Ten still follows closely behind.
Steam developer, Valve has released a statement that it has issued a cease and desist order to popular CS:GO skin buy, sell, trade platform – OPSkins.In 2011 Steam added a feature for all games supported by the platform to allow trade of in-game items. While Steam does not have a system for turning those items into actual money third-party websites have begun to pop up to do just that which open opportunities open for skin and lootbox gambling. Despite the lack of regulation, skin gambling is projected to generate $50b (£35.3b) by 2022. These websites use the OpenID API for Steam as a way for users to prove ownership of their Steam accounts and items. Using that API to run a gambling business is not allowed by Steam’s API or user agreement. To further combat fraud and the misuse of Steam accounts, Valve also applied a seven-day hold of CS:GO trades back in March of this year.On June 6th OPSkins launched ExpressTrade, a trading service for users to quickly trade items back and forth for free. This instant service violates Valve’s Subscriber Agreement terms and use of Valve’s intellectual property. While the service isn’t directly gambling, users can essentially use its service to trade skins after gambling, then turn those items into real-world money. In Valve’s statement, the company has notified OPSkins of the violation and ordered the website to “cease use of all intellectual property including trademarks, gun models and images from the game CS:GO in OPSkins ExpressTrade and any promotions for OPSkins in any media.” Valve will also be disabling any Steam accounts associated with trade by June 21st. In a response, OPSkins informed it’s users of the notice along with advising them to withdraw their Steam-based items from OPSkins to avoid issues with their account. The statement also argues that the reasoning for the shutdown from Valve is to drive skin sales to the Steam Community Market instead of third-party platforms. The Steam Market Community is virtually unregulated, while Steam makes money from transaction fees after every use. The statement assures users their money is safe on OPSkins while it will begin integrating 19 blockchain-based games and services such as token games that will mimic the trading experience of popular games while avoiding trading restrictions. Esports Insider says: In-game skin trading has been an attractive feature for CS:GO, players, since it’s introduction but as it opens up the market for unregulated trading and gambling Valve has to enforce strict rules along with cease and desist orders just like this. Some may think this is actually harmful to the CS:GO and Steam communities but as the environment is heavily unregulated Valve has no choice.Sign up to our newsletter!
Adin Vrabac, the representative of Bosnia and Herzegovina national basketball team after the end of the season, in which he performs for the German Trier, will enter the NBA draft.Together with former co-player from Spars, Nedim Buza, will be representative of our national team in America, as confirmed from the Basketball Federation of Bosnia and Herzegovina.Draft will be held on 25th of June in New York, in the hall of Brooklyn Nets, Barclays Center. Last year, the two of them reported for the NBA draft, but subsequently withdrew their applications as they can do this year as well.Vrabac performed last night for Trier in the victory of his team against Phoenix Hagen with score of 77:70, and scored seven points and three rebounds. (Source: Faktor.ba)
MASON CITY — The City of Mason City has announced they will not be making preparations for opening the city’s aquatic center for the time being.Mayor Bill Schickel says due to the many challenges and uncertainties presented by COVID-19 and its impacts on summer aquatic programs in the community, the Park Board during their meeting Tuesday night decided to delay the opening of the center due to the level of public congregation that takes place at aquatic facilities and the demand for properly trained and certified staff required to operate the facility. “The park board met Tuesday night and made a decision to postpone indefinitely the opening of the pool. There’s a lot of logistics to opening up the pool.”Schickel says though if the current public health emergency conditions impacting the safety of pool operations dramatically change, the city could decide to open the facility at a later date this summer. “The Park Board and our staff will keep the option open should things change dramatically, there’s a slight chance that the pool might be able to open.”Governor Reynolds’ executive order on Wednesday kept all public swimming pools across the state closed.