Edward Gorman

[Edward Gorman @EJG3rd]

@wealth_turtle @krassenstein Russian Bot

[Randall Woodfin @randallwoodfin]

Alabama was given the opportunity to do the right thing, and it didn’t.

So today, we filed an amicus brief in Milligan v. Allen, challenging the unfair congressional maps that dilute black representation.

Our democracy thrives when black voices are heard, not sidelined.

[Randall Woodfin @randallwoodfin]

HUGE NEWS! @HUDgov has awarded Birmingham a $50 MILLION grant to revitalize the historic Smithfield community.

The plan? Build an estimated 1,100 new affordable housing units, invest in our neighborhood infrastructure, and bring an estimated $242 mil in investment in the area.

[Edward Gorman @EJG3rd]

@randallwoodfin For a nanosecond there…

[Edward Gorman @EJG3rd]

Just announced at #justeconomy Conference: Birmingham Mayor @randallwoodfin endorses Interest Rate Buydowns in partnership with @Growthbyncrc @NCRC to bring down mortgage rates to 5% for affordable Homeownership. $16,000 can bring down rates and allow a family to own a 250k home

[Edward Gorman @EJG3rd]

@Stephen__Stills Such a classic!

[Mike Simonsen 🐉 @mikesimonsen]

Home prices hitting new record highs each week. No signs (yet) of spiking mortgage rates deterring demand. Spring buying season is winning out.

Median home price in the US up big this week to $410,000.

All the week's real estate market data in the @AltosResearch 🧵📽️👇

1/7

[Odeta Kushi @odetakushi]

Housing starts beat consensus expectations and rise to 1.702 million. SF housing starts dip 2.3% on monthly basis, while multi-family increases by nearly 14%. Single-family permits, a leading indicator of future housing starts increased 2% on a monthly basis.

[Odeta Kushi @odetakushi]

By this measure, it's cheaper to rent in 39/50 markets. Exceptions include Buffalo, Memphis, Birmingham. But if you adjust the monthly cost of homeownership for the benefit of house price appreciation, then it's better to own in all 50 markets. The house "pays" you. (2/2)

[Odeta Kushi @odetakushi]

The monthly cost of renting vs owning in the top 50 markets & the US in Q3 2021. The monthly cost of homeownership of a home at the lowest quarter of the price scale in each market is calculated using PITI including costs of PMI, homeowner’s insurance & annual repair costs. (1/2)

[NCRC @NCRC]

“When the merger came up, they were pretty willing participants in putting this together,” said @JesseVanTol, president and chief executive officer of NCRC. https://t.co/VVmmmQJzt0

[Edward Gorman @EJG3rd]

Great piece by Gabe Gutierrez of NBC News highlighting the travails for people trying to break into the highly competitive, working-class homeownership market. No one should fall for the opting-to-rent shield that the buy-to-rent crowd is pedaling. https://t.co/iQKQGoqMQi

[Washington Nationals @Nationals]

Nationals fans brought Ryan Zimmerman to tears with a standing ovation before his 1st at-bat today.

How can you not be romantic about baseball?

#NATITUDE

[Odeta Kushi @odetakushi]

If the Fed decided to taper mtg purchases this year, it’s unlikely to harm the housing market as the 10-year Treasury will likely remain low (ongoing economic uncertainty) putting downward pressure on rates &the supply-demand imbalance will continue to keep house prices positive.

[Edward Gorman @EJG3rd]

Proud to be part of this
https://t.co/1h6jwQAiiQ

[Odeta Kushi @odetakushi]

Some positives in the outlook for home building: the # of residential construction workers has increased for 11 out of the last 12 months and are above the pre-pandemic level, lumber prices are falling from record highs & fundamentals driving new home sales are strong.

[Odeta Kushi @odetakushi]

Residential building jobs increase 0.9% percent MoM in July & have surpassed pre-COVID levels, it's good to see progress but it’s not enough. In May, the ratio of construction hires per job opening was lower than pre-pandemic levels, implying it is more difficult to hire now.

[Odeta Kushi @odetakushi]

Yes we're seeing some softening in the purchase market relative to the red hot market from earlier in the year & the unleashing of pent up demand in 2020. But we're on track to have a year similar to 2019, which was our best in about a decade! Context matters.