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Moynihan: “Housing Demand Will Ebb and Flow a Little Differently”

first_img Moynihan: “Housing Demand Will Ebb and Flow a Little Differently” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Bank of America Homeowners HOUSING mortgage Supply 2018-10-17 Radhika Ojha  Print This Post Tagged with: Bank of America Homeowners HOUSING mortgage Supply Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Moynihan: “Housing Demand Will Ebb and Flow a Little Differently” Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Share Save Demand Propels Home Prices Upward 2 days ago Brian Moynihan, Chairman and CEO, Bank of AmericaA number of factors are affecting the housing market. Despite these changes, one needs to keep perspective when analyzing this industry, according to Brian Moynihan, Chairman, and CEO of Bank of America, who recently spoke about the changes in mortgage interest caps and the macro factors affecting housing at CNBC’s Net/Net event in New York.Speaking about the changes to the cap in the mortgage interest that homeowners could write off, implemented in the Tax Cuts Act, Moynihan said that it was unchartered territory for many homeowners as well as financial institutions because the home mortgage interest deduction was “so jealously protected for so many years. And $10,000 is a pretty healthy amount of interest.”However, he said that these changes wouldn’t have a huge effect on homeowners because to qualify for that kind of cap on a mortgage, “a household’s probably got to have a $100,000 to $125,000 of income, a little bit more. So a couple hundred dollars a month isn’t going to make the decision different.” At the most, Moynihan said it would slow down a homeowner’s decision to upgrade. “But I think we’ve got to be careful about over-estimating across the 60 million households that have debt out of 130 million households in America.”Touching upon the high-interest rate environment and the health of the housing market, Moynihan said, “Housing is at tails,” as a number of factors were affecting the housing market, but they should be kept in perspective, especially since the rising rates will not change the market in any major way. “We still did, around, 10.5 billion of mortgage loans this quarter. Last year we probably did 13 billion,” Moynihan told the audience.Looking at the effect of population on housing, Moynihan said, “At the end of the day, without population growth that we had in the mid-2000s at 1.5 percent the demand for housing is going to sort of ebb and flow a little differently.”Looking at the larger market, Moynihan said that housing construction was growing evenly because of locational problems. “It’s really tight in cities like Charlotte where we’re trying to build tens of thousands of units for workers because we’re short. In other places, there’s an excess of supply,” especially in cities that are still recovering from the Great Recession. Despite rising home prices and inventory remaining down, for the most part, Moynihan said that they were fine for now. “But we got to watch it because it’ll be a leading indicator of people’s belief in their wealth if we see housing prices tip over,” he said. Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Previous: The Housing Choices of Older Americans Next: How are Owners Using Their Home Equity? About Author: Radhika Ojha Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. October 17, 2018 1,275 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

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Ulster outclass Treviso

first_imgReturning Lions Tommy Bowe and Rory Best made the perfect return to club colours as Ulster racked up their first bonus point victory of the campaign in a 32-13 RaboDirect PRO12 win over Treviso. Press Association Ulster continued to dominate, though, and got their reward when Paddy Jackson landed a 10th minute penalty. However, Treviso hit back after Ulster were penalised at a scrum and Mat Berquist levelled the scores after 16 minutes. Five minutes later Ulster were back in front after a marvellous burst from Payne created the space to put Luke Marshall in under the posts and, after the TMO was again consulted for a forward pass, the score was awarded. Jackson landed the easy conversion. Seven minutes later, Allen this time clearly made it over the line after a great Ulster surge down the right which then saw Tom Court, Rory Best and Chris Henry all assist before Payne put Allen clear. Jackson missed the tricky conversion and though there were no further scores in the remainder of the half, Ulster looked very secure with their 15-3 interval lead. However, Paul Marshall’s poor knock-on from the restart gave Treviso an easy three points from Alberto Di Bernardo to cut Ulster’s lead to 15-6. The hosts regrouped and after another great attacking move, Jackson’s cross-kick to Bowe was fumbled over the line by Ludovico Nitoglia – presenting the returning Lions winger with the easiest of scores which Jackson failed to convert. His fellow Lions tourist Best then crossed for the bonus point score two minutes after the hour mark but, yet again, Jackson failed to slot between the uprights. Instead of taking total control, Ulster again did themselves damage when replacement Lewis Stevenson was shown yellow for infringing at the breakdown. Despite some heroic defence, the inevitable try came when replacement Robert Barbieri barged over with 10 minutes to go and Di Bernado’s conversion made it 25-13. Then after conceding nothing further before Stevenson’s return, Ulster finished strongly with Allen bagging his second score in the game’s final move. Jackson managed to convert. Winger Michael Allen contributed two excellent scores while Ireland international Luke Marshall also crossed the Treviso line, with Paddy Jackson kicking two conversions and a penalty. The home side nearly scored within the first two minutes after Bowe released Allen on the right only for the TMO to rule the score out, as was the case a minute later when Ulster drove over the line from a lineout. last_img read more

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Critical year-1 success sees Bethard renew with SBTech as lead betting partner

first_img Submit Share TVBET passes GLI test for five live games in Malta and Italy August 25, 2020 Related Articles Erik Skarp – BethardIndustry platform provider SBTech will continue to act as the lead betting services provider for new European multi-market brand Bethard (Bethard.com), after securing a comprehensive contact extension for a further five years.Launched at the start of 2018, Bethard details that SBTech’s complete sportsbook provisions have played an instrumental part in the new betting incumbent achieving its year-1 growth targets and expectations.Updating investors, Erik Skarp, Chief Executive of Bethard Group, backed SBTech as lead supplier: “Our partnership with SBTech has been a significant growth driver for the business across key markets,” he said. “I’m delighted we have agreed on a long-term extension in line with our rapid expansion into a host of new and emerging territories.“The SBTech sportsbook is hugely powerful and provides us with great flexibility, differentiation and speed to market which mirrors our existing and new markets strategy. Our continuing relationship with SBTech means the future is very bright indeed.”Furthermore, SBTech helped Bethard scale a critical World Cup (Russia 2018) period for the new bookmaker.During Russia 2018, Bethard launched its bold “The Zlatan Challenge” –a unique World Cup prediction tournament fronted by Swedish football star Zlatan Ibrahimović with a total prize pool of €200,000.Having established Bethard within the saturated Nordic betting markets. Skarp reveals that year-2 will see the brand broaden its international footprint.Andrew Cochrane – SBTechBacking Bethard’s future ambitions, Andrew Cochrane, CCO of SBTech, said: “The extension of our agreement with Bethard is a testament to the increasing value of our partnership and the high level of trust we’ve built with the team over the past few years.“We work closely with our operators to grow their revenues and have a proven track record of delivering above average market growth. Our goal is to always provide our customers with superior solutions that deliver standout value in the most competitive regulated territories, and I anticipate even greater success for both companies as the latest chapter in the Bethard story unfolds.” Kambi and DraftKings agree on final closure terms July 24, 2020 Share Kambi takes control of Churchill Downs BetAmerica sportsbook August 28, 2020 StumbleUponlast_img read more

Continue Reading... Critical year-1 success sees Bethard renew with SBTech as lead betting partner