Housing-Starts Increase ‘May Soon Pause’

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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: Smaller-Scale Property Investors Feel Mounting Fiscal Pressure Next: The Importance of Communicating With Struggling Borrowers Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Share Save Housing-Starts Increase ‘May Soon Pause’  Print This Post Demand Propels Home Prices Upward 2 days ago 2020-11-18 Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Housing-Starts Increase ‘May Soon Pause’ The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The U.S. Census Bureau released its construction statistics for October—which shows permits, starts, and completions—recorded a 4.9% increase in housing starts in October compared to September.Fannie Mae’s Chief Economist Doug Duncan points out that the increase was driven by single-family housing starts, which rose 6.4%, the sixth consecutive monthly increase. At 1.18 million annualized units, this was the fastest construction pace since April 2007.”While the comparative strength of single-family starts was expected,” Duncan said, “the gain was somewhat larger than anticipated and will likely result in a modest upgrade to our near-term housing starts forecast.”George Ratiu, Senior Economist at Realtor.com added that the census data “mirror rising builder optimism.”Ratiu says homebuilders are “walking a tightrope between increasing costs of labor, materials, and land, and eager buyers seeking larger homes in suburban neighborhoods.””While they are well-positioned to meet the needs of buyers in these neighborhoods,” he said, “the volume of new construction still lags the number of buyers. This has led to steeply rising new home prices that are beginning to overshadow the benefit of low interest rates. Real estate markets need a massive new inventory boost to restore balance and make homes more affordable.”First American Deputy Chief Economist Odeta Kushi weighed in on the report, echoing the idea that while new construction is happening the struggle to keep up remains.”Despite record-low inventory of existing homes for sale, construction activity has lagged. The construction industry faces several supply-side headwinds: increasing material costs (specifically rising lumber costs), a chronic lack of construction workers, a dearth of buildable lots, and restrictive regulatory requirements in many markets,” Kushi said. “There are signs that this situation may improve in the months to come. In October, single-family housing starts increased to a post-Great Recession high, increasing 29% from October 2019 as builders overcame … and broke ground on more homes. Single-family housing permits, a leading indicator of future starts, also increased by nearly 21% relative to one year ago.”Duncan says prior data indicate a closing of the gap may have started in September when new sales pulled back a bit but construction accelerated.”We expect a strong construction pace relative to sales to continue for the time being. However, the brisk acceleration in starts experienced over the past few months may soon pause. Both single-family housing permits and the number of homes authorized-but-not-yet-started were essentially flat over the month, which we believe suggests that the rapid phase of recovery may soon be ending and that further gains will likely be more modest going forward.”Kushi added that the rise in single-family permits in conjunction with the rise in construction employment in October “signals an upward trajectory for housing starts looking ahead. This reinforces reports that builder confidence increased to a record 35-year high in November, even in the face of cost challenges.”For the brokerage sector, Austin Niemiec, Executive Vice President of Rocket Pro TPO, offers the following insight on the report:”With home builders maintaining an incredible pace not seen in years, even well into the fall, brokers should view this as a clear sign they will continue assisting purchase clients throughout the rest of the year. With all products witnessing red hot demand, it is critical brokers have a strong focus on reinvesting in their business to ensure great success in the future regardless of what the market brings.” Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News Subscribe Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Sign up for DS News Daily November 18, 2020 845 Views last_img read more

Ocean City Judge Recognized by Seeing Eye Dog Organization

first_imgAudrey Kernan with State Senator Anthony Bucco and a Seeing Eye puppy in training.  Kernan, of Ocean City,  was recognized by Seeing Eye for her role in the passage of Dusty’s Law to protect guide and service dogs in New Jersey.  Bucco sponsored the bill.An Ocean City woman was recognized last week by The Seeing Eye organization of New Jersey for her role in securing passage of legislation that helps protect service animals and guide dogs.Audrey Kernan was instrumental in helping navigate “Dusty’s Law” through the New Jersey State Assembly and Senate, said Jim Kutsch, President and CEO of the Seeing Eye, the world’s oldest guide dog school.Signed into law by Governor Chris Christie in January, Dusty’s Law sets criminal penalties for killing, injuring or interfering with working dogs and other service animals.A 2010 attack by a neighbor’s pit bull on prospective Seeing Eye dog and the law’s namesake, Dusty, prompted a grass roots effort to secure the legislation.“Dusty survived the attack, but he lost some teeth and required nearly 100 stitches for his wounds –and his volunteer puppy-raiser lost part of his finger defending him,” explained Kernan, a lifelong resident of Ocean City.  “The injuries prevented Dusty from becoming a guide dog.  A blind person would have been left vulnerable if his or her dog were the victim of such an attack, which previously was not considered a crime. Now, as a result of the legislation, we have penalties established and empowerment for law enforcement in this type of situation.”Kutsch said Kernan was an integral part of Seeing Eye’s efforts to secure passage of the law.  “Audrey’s efforts were tireless,” he said. “She was all over the state.  If Audrey had any possible opportunity to meet with someone to help move this legislation along, she was there.”  Kutsch said.“Because of her efforts, our guide dog handlers, puppy-raisers, instructors and their dogs and puppies will now receive much greater protection against attacks.”Kutsch cited a 2011 survey by his organization revealing 40 percent of all guide dog teams have been attacked and that almost 90 percent have been interfered with by other dogs running loose or poorly controlled by their owners.Kernan, a Worker’s Compensation Judge in the State Department of Labor and Workforce Development who presides over a court in Camden, has volunteered her time to the Seeing Eye for years.  Most recently, she and her son Cooper raised Gusty, a German shepherd recently placed with a blind man in California.“This recognition is gratifying and unexpected,” said Kernan.  “I receive a lot more from the Seeing Eye than I give.”On hand for the presentation at Seeing Eye’s facility here was Kernan’s father, John Kemenosh, a former Ocean City Councilman, and State Senator Anthony Bucco (R-25th district) who was sponsor of the bill.“I’m quite proud of all my daughter’s many accomplishments, but this one is the absolute pinnacle,” said Kemenosh, an 87-year-old World War II veteran. “I don’t think many New Jersey residents realize we are home base for Seeing Eye dogs worldwide.  If you see a Seeing Eye dog anywhere in the world, it is exported from New Jersey. And now we have one of the toughest laws in the nation to help protect these remarkable animals.”— News release from Tim Kelly, [email protected]last_img read more

Introducing the industry’s most flexible converged system to date: the Dell Validated System for Virtualization

first_imgThis week at VMworld it has been my pleasure and privilege to help unveil Dell’s latest converged system, the Dell Validated System for Virtualization. Dell’s leadership in converged and hyperconverged systems today spans tested and validated reference architectures to precision-tuned engineered systems for use cases from VDI to big data to hybrid cloud and the broadest hyper-converged infrastructure portfolio of any vendor.But our newest system, the Dell Validated System for Virtualization, is a great example of how we never rest on our laurels. We always insist on innovating. I invite you to take a good look at this system because when you do, I think you’ll agree.The Dell Validated System for Virtualization, you won’t use like any other. Developed from the ground up with the overriding mandate of today’s IT shops in mind—to meet business needs quickly, at high efficiency, and with rock-solid reliability—we have produced the market’s most flexible converged system to date. That flexibility is key to delivering on the promise of a service-defined infrastructure that will enable and accelerate the new service-oriented IT.Flexibility is key: by being flexible in design, comprehending multiple server, storage, and networking technologies, the Dell Validated System for Virtualization adapts to YOUR infrastructure and virtualization policies instead of requiring time – and time consuming adaptation – BY you. With groundbreaking flexibility in sizing, the System drives new efficiencies and speed—because you only buy what you need. Buy as small a system as two compute nodes with associated storage, or scale it up (by as little as a single node or drive) until you reach only just the capacity you need.Or is that capacity need great? Use Dell PowerEdge FX2 modular servers and storage arrays for density in the rack, or scale out to multiple racks. All in the same system, the Dell Validated System for Virtualization, and using the same system manager, Dell Active System Manager (ASM), regardless of this wide range of architectures and sizes.Dell ASM is the one manager you use for all the configurations and sizing I referred to above. It monitors and manages the system’s health and performance as usage grows and changes, and as workload requirements or even the workloads themselves change.Come visit the Dell booth at VMworld in Las Vegas this week, or contact your Dell representative to learn more.last_img read more

Kay and Zogg win back-to-back at Davenport

first_imgBy Mike McGuire DAVENPORT, Iowa (June 20) – Friday was Mid-Season Championship Night at Davenport Speedway and Justin Kay scored his second straight and third point win of the season in Petersen Plumbing & Heating IMCA Late Model action. Matt Ryan took the lead from the pole position and led the first seven laps. Spencer Diercks lead the next four circuits with Kay finally taking the lead on lap 12. Kay cruised the rest of the way to the checkers and the win.Diercks fended off Nate Bueseling to finish second. Ryan and Todd Malmstrom completed the top five.Chris Zogg also recorded his second straight and third point win of the season in the Milan Heating & Air IMCA Modified feature. Zogg grabbed the lead from Bob Dominacki on lap 12. The 20-lap main was shortened by a lap as the caution flag flew after the leader had taken the white flag.Kurt Kile made a late charge to finish second with Mitch Morris third. Bob Dominacki was fourth and Milo Veloz Jr. fifth. Austin Moyer, fresh off his victory in last week’s SportMod Challenge 50, collected his first point win at Davenport in the Hawkeye Auto IMCA Northern SportMod main. Moyer took the lead after a lap three restart and dominated the rest of the way to the checkers. Point leader Bryce Garnhart came from the back row but had to settle for a distant second. Henry Carson had a solid run in third and was followed to the checkers by Joe Grant and Doug Burkhead.The evening’s racing program was sponsored by JC Dubil.last_img read more

Injury forces Fajardo out

first_imgThe injury bug just bit Gilas Pilipinas and got the Filipinos’ best man in the middle.ADVERTISEMENT Without Fajardo, the Beermen lost for the first time in three games in the Governors’ Cup, 104-98, and dropped to a tie with defending champion Ginebra at 2-1.The Hotshots zoomed to their third straight win to tie idle Meralco at second behind NLEX’s 4-0 start.Fajardo last played for Gilas in the Southeast Asian Basketball Association championship almost two months ago in Manila.His withdrawal from the team comes as a big blow after Gilas already failed to get naturalized center Andray Blatche on board, with the former Brooklyn Net in the NBA fearing for his security in Beirut.Gilas has been bracketed with China, Iraq and Qatar in Beirut, with the Filipinos to open up against the powerhouse Chinese on Wednesday.ADVERTISEMENT DILG, PNP back suspension of classes during SEA Games Church, environmentalists ask DENR to revoke ECC of Quezon province coal plant MOST READ Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Robredo should’ve resigned as drug czar after lack of trust issue – Panelo National Coffee Research Development and Extension Center brews the 2nd National Coffee Education Congress Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Trump strips away truth with hunky topless photo tweetcenter_img View comments LATEST STORIES FEU Auditorium’s 70th year celebrated with FEU Theater Guild’s ‘The Dreamweavers’ Pirates still unbeaten June Mar Fajardo, the most dominant big man in the Gilas lineup, has begged off from joining the squad in the Fiba Asia Championship that unfolds next week in Lebanon after straining his calf in San Miguel Beer’s PBA game last Wednesday.San Miguel team officials furnished Gilas coach Chot Reyes a copy of Fajardo’s medical report with the 6-foot-10 center needing at least two weeks of rest before the injury is evaluated again.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool starsPBA commissioner Chito Narvasa was furnished the same copy of Fajardo’s medical report.Fajardo was ordered to immediately rest and missed the Beermen’s crucial game against Star on Friday night. For the Philippines to advance outright to the quarterfinals, it would need to sweep its first three games, otherwise, the Filipinos would be relegated to a qualifying round to get to the quarterfinals.The good thing about resting Fajardo now is that he could be 100 percent ready for the World Cup Qualifying.Sports Related Videospowered by AdSparcRead Next Don’t miss out on the latest news and information. Lacson: SEA Games fund put in foundation like ‘Napoles case’last_img read more

Crown withdraws charges against one of the officers charged in death of

first_imgAPTN NewsCharges of criminal negligence causing death against a member of the Ontario Provincial Police (OPP) for the death of Debra Chrisjohn have been dropped.Late Monday night, Chrisjohn’s family sent out a statement saying they were disappointed Const. Mark McKillop will not have to face the charges.“The decision by the Crown… is hard for the family to understand,” said Debra Chrisjohn’s sister, Brittany, in the statement. “We hope that everyone who played a role will be held accountable.”Ontario’s Special Investigations Unit (SIU) charged the two police officers with the death of Chrisjohn, 39, a member of the Oneida Nation of the Thames.According to a release from the SIU in July, McKillop, and London Police Service (LPS) Const. Nicholas Doering faced one charge each of criminal negligence causing death and failing to provide the necessities of life.The family says Doering will still face those charges.“Debra was my best friend and a beautiful person,” said her sister Ruby. “Her life ended far too soon.”The following details were released on the SIU site in July of 2017:In response to calls made to 911 in the late afternoon hours of September 7, 2016, London Police Service officers were dispatched to the area of Trafalgar Street and Highbury Avenue North. Chrisjohn was arrested by LPS and transferred on an outstanding warrant into the custody of Ontario Provincial Police (OPP) officers with the Elgin County detachment. At 7:52 p.m., Emergency Medical Services transported Chrisjohn to St. Thomas Hospital.Ms. Chrisjohn was pronounced dead at 8:43 p.m.“Without knowing the specific details surrounding the death of Debra, it is difficult for the family to assess the decision by the office of the Crown attorney,” said Caitlyn Kasper, a lawyer at Aboriginal Legal Services and counsel for the family in the statement.“However, we know that as this active prosecution moves towards preliminary inquiry or trial, more details will emerge.“In the meantime, I certainly expect that the Ontario Provincial Police will be thoroughly reviewing the actions of Const. McKillop to determine if there were breaches of the Police Services Act.”last_img read more