September 7, 2017
- A researcher from Harvard’s Joint Center for Housing Studies names two lessons regarding Housing after Hurricane Harvey. Lesson one is rebuilding “residential properties” is time consuming. Lesson two is owned homes will be built faster than rental properties. Jonathan Spader gleans these lessons from the aftermath of both Hurricane Katrina and Rita. One reason for the slower erection of rental homes is due to landlord choice and access. For instance, if a landlord owns a home and a rental property, he or she may rebuild their home before rebuilding another’s home.
- Wells Fargo, America’s third largest bank, is in the news yet again. A whistle blower is accusing the bank of making consumers pay higher mortgage rates. Specifically in Beverly Hills, Ca, homeowners were encouraged to pay higher rates in order to avoid a prolonged process when refinancing their homes. Allegedly, loan officers in the branch are responsible for these unfair practices.