June 8, 2017
- Lawmakers see a need to adjust the country’s current flood insurance practice. Currently, the nation’s flood insurance program runs a 25 billion deficit from “storm-damage payouts in recent years.” To date, insurance companies provide approximately 5 million insurance policies to specific regions usually affected by hurricanes and other severe storms. Lawmakers are hoping to decrease the debt while providing reasonable support to those affected.
- Real estate developers in New York have corrupted the election process in order to ensure their success in various development projects. Lamm and his co-conspirator planned to earn hundreds of millions on their Bloomingburg development which they began in 2006. In 2013 local residents opposed the development, so the duo began determining “other means” to move the project forward.
- Mortgage rates are their lowest in seven months. On average, lenders are offering mortgages at the high 3% range. The shift in the mortgage rates stem from investor activity in bond markets. For instance, “When investors shed risks, bonds tend to benefit.“