How Biden’s Economic Stimulus Plan Might Impact Housing

first_img Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / How Biden’s Economic Stimulus Plan Might Impact Housing Demand Propels Home Prices Upward 2 days ago President-elect Joe Biden last week provided a $1.9 trillion plan for rescuing the U.S. economy. Housing industry insiders and other American’s have responded to key housing-related areas of the package including individual stimulus checks in the amount of $1,400 (in addition to approved $600), rental assistance, and the extension of a foreclosure and eviction moratorium. The plan also includes $20 billion for COVID-19 vaccine and testing programs.The National Association of Homebuilders (NAHB) has listed other items—unemployment insurance, small business assistance, minimum wage increases, tax credits, and more—that they say will impact business and how.Some housing advocates, including the National Housing Coalition (NHC), have voiced approval for what they call a “comprehensive plan to introduce emergency rental assistance.””This plan would save millions of renters from eviction and provide much-needed support for mom-and-pop landlords who have gone nearly a year without rental payments,” NHC President and CEO David M. Dworkin said. “As our nation faces an economic crisis, the focus should be on putting Americans back to work. One of the most impactful ways to achieve that is through major investments in housing construction, which were already needed prior to the pandemic and are vital to our nation’s economic recovery.”However, according to Gryphon USA Principal Richard Kruse, Biden’s plan to extend the foreclosure/eviction ban another eight months creates additional problems for landlords and tenants.”In the end, there will be an even bigger tsunami of evictions and foreclosures,” said the distressed-asset manager and foreclosure broker. “This is a delay in the market unraveling itself and increases the inevitable consequences.”He said the extent of the past-due rent and mortgage is hard to quantify. The National Council of State Housing Agencies estimates tenants have between $34 billion and $70 billion in past-due rents as of December 31. If correct, the Biden (rental assistance proposal) barely covers the low range estimates, he says.Dworkin added that “an effective stimulus and vaccination rollout will help prevent the need for additional rental assistance.”Via Twitter, President and CEO of the National Low Income Housing Coalition Diane Yentel said Biden’s proposed emergency rental assistance, stimulus checks, and expanded unemployment insurance, “may be enough to cover back rent/utilities and some forward rent, but more is needed,” she wrote. “We’re not out of this pandemic yet.” Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Previous: Firefly Legal Celebrates 25th Anniversary Next: California Housing Market Ends 2020 on a High Note Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post January 18, 2021 2,767 Views in Daily Dose, Featured, Foreclosure, News The Best Markets For Residential Property Investors 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago How Biden’s Economic Stimulus Plan Might Impact Housing Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2021-01-18 Christina Hughes Babb Related Articles Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Christina Hughes Babb Subscribelast_img read more

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Laudrup seeking legal advice

first_img Press Association Michael Laudrup has blasted the manner of his sacking by Swansea and has said he is taking legal advice over the dismissal. Swansea have picked up just six points from their last 10 matches and are two points above the relegation zone heading into this weekend’s derby showdown with Cardiff. The Swans, however, are through to the fifth round of the FA Cup, where they face Everton, and are also in the last 32 of the Europa League, with Italian side Napoli their next opponents. Monk held his first training session on Wednesday and did his best to fend off some awkward questions from the press 24 hours later. One of those related to defender Chico Flores, who was involved in a training ground bust-up with Monk last month. The club have played down some of the more colourful accounts of the incident and Monk, a Swansea captain in all four divisions, insisted it would have no effect on his team selection. “Chico will be involved in the squad, zero problems whatsoever,” said Monk. “We had a talk today. Things have been blown up and we have had a laugh about it. He is a good man.” The 34-year-old also attempted to play down the upheaval Laudrup’s exit would have on the club between now and the end of the season. “We’re all aware of what has happened this week. It has been a busy period,” said Monk. “I know the club and the players, nothing here is new to me. We’ve lost players and managers in the past and we’ve dealt with that. “That’s industry we are in. We’re used to those experiences. “I was just told ‘Can you be ready to prepare the team’. I don’t know what happened with manager and chairman. This is my club and that’s what I’ll do.” Monk admitted the full-time job would be a dream role for him, even if it meant the end of his playing days. “My ultimate aim would be to manage the club, (but) I am not a player-manager. If I am in. I might not be seeing things elsewhere. “If I have played my last game as a player it would mean I have done well.” Former England manager Glenn Hoddle has been linked with Swansea since Laudrup’s departure, however it has emerged he has no interest in joining the club. According to zapsportz.com, the website founded by Hoddle last year, the 56-year-old “has neither sought nor applied for the Swansea post. And he has not been interviewed nor has he any plans to be interviewed for the job”. Hoddle has been out of football management since leaving Wolves in 2006, having previously held club positions at Swindon, Chelsea, Southampton and Tottenham. The Dane was sacked on Tuesday following a poor run of form by Swansea, 12 months after leading the club to the first major trophy in their history. The League Managers Association (LMA) is now writing to the club to ask for the reasons for his sacking. On the day his temporary replacement, club stalwart Garry Monk, held his first press conference, Laudrup released a statement which read: “I am deeply disappointed to have been dismissed as manager of Swansea City. “In particular, the manner in which it happened and the actions the club has taken since notifying me in the briefest of letters which gave no reasons why such hasty and final action was deemed necessary. “I am, of course taking legal advice and the LMA have already written to the club asking for a proper explanation as to why I was summarily dismissed.” Laudrup also revealed his upset at being denied the chance to thank the players in person for their efforts under him. He added: “The club has informed me that I cannot visit the training ground to say my farewells to the players so I do that now through this statement. “The players have been fantastic and their contribution under the very professional guidance of my coaching staff has been absolutely fundamental to the club’s recent successes. Three members of my staff have also been dismissed. “Whilst league results have been disappointing of late, we are still 12th in the table and it is there for all to see the fine margins in the league this season in terms of points that separate 11 clubs. “Although we have been unfortunate with injuries, I believe our league form would have improved and that we would have benefited from the forthcoming Europa League and FA Cup matches.” last_img read more

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