Yun: Possible economic downturn likely to be mild | Getting familiar with the sustainable lifestyle | 8 steps to build (or rebuild) your social media presence
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Getting familiar with the sustainable lifestyle New eco-friendly home features like EV charging stations are capturing the interest of buyers coast to coast. Here's what you can do to know how to effectively guide these clients. Full Story: REALTOR® Magazine (8/1)
8 steps to build (or rebuild) your social media presence Whether you're a new agent just launching your business presence on social channels or a seasoned pro who's reengaging with followers after taking a break, engaging new and existing followers doesn't have to be a heavy lift. "Show up, be present first, and comment [on others' posts] with complete sentences," says real estate pro and technology trainer Carrie J. Little. Full Story: REALTOR® Magazine (8/1)
Promoting your philanthropy? Focus on results, not money When you're communicating your good works to your client base, it's important to highlight the people you're helping rather than your fundraising or community service accomplishments, real estate pros say. "I've almost stopped telling people how much money we give because other agents go, 'Well, I don't have a million dollars to give away,'" says broker-owner Anthony Marguleas. Full Story: REALTOR® Magazine (December 2019)
Real Estate Trends
Study: Friendships between rich, poor aid upward mobility Neighborhoods that connect rich and poor residents give children a better chance at social mobility, with cross-class friendships playing a significant role in pulling people out of poverty later in life, according to a study published in Nature. Economic connectedness has been shown to predict upward mobility more than other factors. Full Story: The New York Times (8/1)
Homebuilding slowed in June Spending on construction of single-family homes decreased 1.1% in June from May, defying economist expectations and marking the steepest contraction in two years, according to the Commerce Department. The slowdown comes amid rising interest rates and an overall economic contraction. Full Story: Reuters (8/1)
Fair & Equitable Housing
Zoning plays a leading role in affordable housing shortage Author M. Nolan Gray examines how zoning regulations have driven affordable housing shortages and historically led to segregated communities. Gray notes that a lack of zoning regulations in Houston has enabled it to become "America's most affordable and most diverse city" with "an extremely low rate of homelessness." Full Story: WealthManagement/Bloomberg (8/1)
Legislation & Regulation
Fed official says more rate hikes should be expected Federal Reserve Bank of Atlanta President Raphael Bostic has said further rate hikes appear inevitable, but refrained from commenting on their size and pace. "I'm convinced we're going to have to do more in terms of interest rate increases. ... Exactly how much and then what trajectory will depend on how the economy evolves over the next several weeks and months. We're going to get a lot of data ... before our next meeting" in late September, Bostic said. Full Story: Reuters (7/29)
Court awards lower payout to CFPB in mortgage case A Wisconsin federal judge has awarded a new settlement payable to the Consumer Financial Protection Bureau in a mortgage relief services case, reduced by approximately half to $29.2 million, after a $59.2 million award was thrown out by an appeals court last year. The fines are to be paid by the attorneys of two firms that are no longer functioning, the Mortgage Law Group and Consumer First Legal Group. Full Story: Law360 (8/1)
Opendoor agrees to pay $62M to settle deceptive offer claims Opendoor has reached a settlement with the Federal Trade Commission in which the company will pay $62 million over claims Opendoor misled sellers. The FTC says Opendoor's offers to purchase sellers' homes were lower than market value, and the settlement will provide refunds to sellers. Full Story: TechCrunch (tiered subscription model) (8/1)
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