White House Targets Economic Risks from Climate Change

Kennith Bogan

A new 40-page report takes a broad view on steps being taken to mitigate risks, including possible HUD and VA buyer disclosures on flood and climate-related threats.

WASHINGTON (AP) – The Biden administration is taking steps to address the economic risks from climate change, issuing a 40-page report Friday on government-wide plans to protect the financial, insurance and housing markets, and the savings of American families.

Under the report, the mortgage process, stock market disclosures, retirement plans, federal procurement and government budgeting are all being reconsidered so the country could price in the risks being created by climate change. The report is a follow-up to a May executive order by President Joe Biden that essentially calls on the government to analyze how extreme heat, flooding, storms, wildfires and broader adjustments to address climate change could affect the world’s largest economy.

“If this year has shown us anything, it’s that climate

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Report: Fla. Closing Costs Are 2.32% of Home Price

Kennith Bogan

In the U.S., closing charges, which includes taxes, were being up 10.5% calendar year-to-12 months, and just about $7K for an average rate house. In Fla. it is a bit greater: $8.5K for the ordinary home.

SAN DIEGO – In the first fifty percent of 2021, ordinary closing charges for purchasing a single-household U.S. residence had been $6,837 which include taxes (up 12.3% yr-to-yr), and $3,836 excluding taxes (up 10.5% yr-to-12 months). Refinancing charges elevated marginally to $2,398 – a 4.87% adjust from the documented 2020 ordinary of $2,287, in accordance to ClosingCorp, a service provider of residential true estate closing charge details and engineering.

Since ClosingCorp based mostly its calculations on a condition or metro area’s ordinary house rate, the greenback amounts used for comparisons can differ.

In Florida, the common house cost made use of for the research for the 1st 50 percent of the yr was $368,560.

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EEOC sues Whiting-Turner for discrimination, retaliation on Google job

Kennith Bogan

Editor’s notice: This post involves references to racial slurs that could be disturbing to readers.

Dive Short:

  • Whiting-Turner, the fifth most significant contractor in the state by profits, segregated personnel into all-Black do the job crews headed by White supervisors, a single of whom referred to them as “boy,” “m—–f—–” and “you,” and routinely explained to them to “get ya Black asses back to perform,” according to a federal lawsuit submitted against the agency by the Equal Employment Opportunity Fee.
  • Whiting-Turner also assigned all-Black get the job done crews to the bodily hardest and least attractive positions at the firm’s $600 million Google details middle venture in Clarksville, Tennessee, in 2018 and 2019, the fit alleges. That included making Black crews work outside with out shade, although White workers had considerably less arduous jobs, this sort of as functioning forklifts and operating indoors or in the shade, the suit claims.
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Commercial Real Estate: Opportunities and Challenges Abound

Kennith Bogan

Florida Realtors economist: Actual estate’s household side has been on fireplace since summer 2020. How has the business facet fared? It’s very hot – and it is not. It relies upon on the place you seem. The delta variant of COVID-19 slowed the office industry even as it relit a hearth below other industrial sectors.

ORLANDO, Fla – How has the pandemic – and its delta variant resurgence – impacted the U.S. business true estate marketplace?

The Nationwide Association of Realtors Study Team a short while ago revealed their newest “Commercial Market place Insights – September 2021” report. The insights occur from NAR’s Quarterly Business Market Study carried out among the its professional customers to assemble info about their regional industry ailments. In the latest study, respondents had been questioned how associates are adapting to the pandemic and basic industry observations.

Headline takeaways

The delta variant took a chunk

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Aberdeen office take-up almost doubles in Q3 | News

Kennith Bogan

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Jumbo Home Loans Near Pre-2008 Crisis Levels

Kennith Bogan

Less consumers qualify for standard mortgages due to larger costs and decreased downpayments. As a outcome, the amount of jumbo loans is at pre-Fantastic-Economic downturn ranges.

NEW YORK – Lender of The usa (BofA) scientists claimed that originations of “jumbo” U.S. residential property finance loan loans surpassing “conforming limits” set for Freddie Mac and Fannie Mae could whole $550 billion this yr, a amount not seen due to the fact the operate-up to the 2008 monetary crisis.

Jumbo originations achieved about $283 billion in the first half of 2021, placing the annual quantity shut to a submit-crisis record. Even so, quite a few public home loan loan providers a short while ago explained they would provide debtors confirming loans of up to $625,000, a degree expected to match new federal tips for 2022.

Financial institution of The us explained jumbo home finance loan-bond issuance in 2021 has presently arrived at

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