The State of Housing Finance

first_img Fannie Mae FHA FHFA Freddie Mac Government GSE Home HOUSING HUD Legislation Mark Calabria Urban Institute 2019-01-02 Radhika Ojha Share The State of Housing Finance The change in direction at the Federal Housing Finance Agency (FHFA) would be one of the most important things to happen in housing finance this year, according to experts at the Housing Finance Policy Center at the Urban Institute. “I’ll be watching to see if whatever changes are made will bring more private capital into the market,” said Laurie Goodman, VP, Housing Finance Policy Center at the Urban Institute.These experts will closely follow the actions of Mark Calabria, who was nominated by President Trump to lead the FHFA. “Though he would be in a uniquely powerful position” to do “something” about the government’s role in the housing finance system, Jim Parrott, Non-resident Fellow at the Urban Institute said, “But we’ll be heading into an election year and possibly an increasingly weak housing market, so it will be interesting to see how that tension between ideology, politics, and economics plays out.”Some of the other questions that these researchers would be seeking answers to during the year include, the future of the government-sponsored enterprises (GSEs) as well as the actions being taken by the Federal Housing Administration (FHA) to mitigate risks related to the risk profile of its book of business.That, apart from how the “various proposals and policies that are being introduced legislatively and administratively, will affect housing affordability,” would be the key issues that the market will have its eye on in 2019, according to Alanna McCargo, VP, Housing Finance Policy Center at the Urban Institute.Ed Golding, a Non-resident Fellow at the Urban Institute and former Head of the FHA, said that 2019 could well be the year when home price appreciation “comes back down to earth.””They can’t continue to go up at 7 percent a year in an environment where interest rates and inflation rates are in the 2 percent range,” Golding said. “The tax code increased the user cost of housing in some (upper-end) markets by as much as 30 percent but created little discernable change in house price momentum.”In 2018 the housing market showed early signs of a slowdown in home price growth, softening of the housing markets, and rising inventory in even the hottest markets, like San Francisco and Seattle, according to Bing Bai, Research Associate at the Urban Institute who said that he was interested in seeing the shifting trends in the housing  and mortgage market. “Rising interest rates cut down the refinance volumes, and a slowdown in the purchase mortgage market would put further volume pressure on the mortgage industry,” he said.Senior housing would be another focus area that will be on their radar. “Not only are we about to have more senior renters (many on fixed incomes), but also fewer senior homeowners with any significant home equity (and some with large mortgages, especially compared with their incomes), more in need of structural modifications to be safe in their homes,” said Ellen Seidman, non-resident Fellow at the Urban Institute.To read all the views of these experts, click here.center_img in Daily Dose, Data, Featured, News January 2, 2019 952 Views last_img read more

Abu Dhabi UAE – Reported by Elite Traveler the p

first_imgAbu Dhabi, UAE – Reported by Elite Traveler, the private jet lifestyle magazineOn November 1, 2011, Jumeirah at Etihad Towers opened in Abu Dhabi, marking the luxury hotel group’s first foray into the UAE’s vibrant capital. Located on the Arabian Gulf in the Ras Al Akhdar area of Abu Dhabi, close to the central business district and ministry compounds, the contemporary space is poised to set a new standard in hospitality, gastronomy and relaxation in the emirate.Jumeirah at Etihad Towers touts 382 guest rooms and suites, 199 fully serviced residences and one of the largest conference centers in Abu Dhabi. The modern glass tower stands almost 1,000 feet tall, its interiors outfitted in a sleek contemporary design featuring the best Italian marble, custom hand-tufted carpets and photography depicting life in Abu Dhabi in the 1960s culled from the private collection of His Highness Sheikh Suroor bin Mohammed Al Nahyan.Leisure travelers will find respite in the hotel’s Talise Spa, featuring fully contained treatment suites, Turkish hammam and Arabian Rasoul. A private beach gives sun-seekers the perfect opportunity to lay out without having to wander far from home base. Perfectly appointed accommodations and food & beverage venues all offer superb vistas of Abu Dhabi’s Corniche, city skyline and coastline.Jumeirah at Etihad Tower’s focus on gastronomy and urban-chic nightlife promises to draw a local and international following, keeping the hotel buzzing with a discerning clientele. On-property, guests will find 12 restaurants, bars and lounges—the two signature restaurants, Li Beirut and Quest, offer unique modern interpretations of Lebanese and Asian cuisine, respectively.The impressive conference center can accommodate up to 1,400 guests in a conference setting or 1,000 guests for a seated banquet dinner. Designed to enhance the seamless coordination of events and uninterrupted flow of visiting guests and delegates, the center, including its Mezzoon ballroom, all 13 meeting rooms, VIP suites, Bridal Suite, business center and showroom, is housed on the same level.www.jumeirah.comlast_img read more