ProfessorP

Academic I Public Servant I Housing, Money & Consumers I PHD @universityofga I MBA @WPCareySchool I Faculty @Auburn I Travel addict I Thrifting junkie

[ProfessorP @PortiaLJohnson]

#America is 248 years old! Just think, if the US were 2 years old, Canada would still be 150 yrs old, Spain 781, Rome 2511, India 5323, Egypt, Greece, Korea & Ethiopia even older! When you think of it that way, of course America acts like the toddler in the room. #TerribleTwos

[ProfessorP @PortiaLJohnson]

Prioritizing #homeownership for American citizens! More of this!!! #privateEquity #consumersFirst

[Governor Kathy Hochul @GovKathyHochul]

For too many, the dream of owning a home feels impossible. When corporations co-opt housing stock, that makes it even tougher.

New York will do something no other state in the nation has done: Ban private equity from bidding on properties for their first 75 days on the market.

[ProfessorP @PortiaLJohnson]

A big win for homeowners in LA. #consumerprotections

[Governor Gavin Newsom @CAgovernor]

Today, I signed an executive order prohibiting greedy land developers from ripping off LA wildfire victims with unsolicited, undervalued offers to buy their destroyed property.

Make no mistake — this is a prosecutable crime.

[ProfessorP @PortiaLJohnson]

Consumers are not making out well! #consumerrights

[Sen. Bernie Sanders @SenSanders]

The mainstream media may not discuss it, but here's the fact:

Three people —Musk, Bezos & Zuckerberg — now own more wealth than the bottom half of American society.

A handful of corporations control what is produced & the prices we pay.

Capitalism is broken.

[ProfessorP @PortiaLJohnson]

#IMO Real estate investors buying less homes is great news! I love this for the American people & the macroeconomy. Historically #homeownership contributes ~17% to #GDP. Owning a #home is linked to better #wealth accumulation, #financial stability, #health and #wellbeing.

[Nick Gerli @nickgerli1]

Rising long-term bond yields are creating big issues for real estate investors.

With the 10-year US treasury now rising past the Cap Rate, or net profit %, from a rental property.

This means US government bonds now have the same return as buying a house and renting it out.

As a result - investor purchases have plummeted. And more investors are selling—especially the institutional ones.

[ProfessorP @PortiaLJohnson]

@nickgerli1 I love this for the American people & the macroeconomy. Historically #homeownership contributes ~17% to #GDP. People need to be able to buy houses!

[ProfessorP @PortiaLJohnson]

@YemiFirstson @tez_thephilos

[The Kobeissi Letter @KobeissiLetter]

Mortgage demand is collapsing:

US mortgage applications for single-family homes fell 3.7% last week, marking their 4th consecutive weekly decline.

As a result, the mortgage demand index has fallen to the lowest since February 2024 and its 3rd lowest level in nearly 30 years.

The index has now fallen a whopping -63% over the last 4 years.

This comes as home financing costs have rapidly surged while prices remain at all-time highs.

Since mid-September, 30-year fixed mortgage rates have risen ~110 basis points and are back above 7%.

Mortgage demand is at 1990s levels.

[JFCP @JFCPfinance]

“What About the Children?”: College Students Simulating a Child’s Role During the Community Action Poverty Simulation
@AFCPE

https://t.co/MTbRSSMVPP

[NCLC @NCLC4consumers]

The latest article from NCLC's Digital Library examines the May 25th SCOTUS ruling in Tyler v. Hennepin & lists ten practical tips to avoid loss of a home for unpaid property taxes--including when the home is tied up in probate. #ProtectConsumers https://t.co/UCkzlbLBDG

[ProfessorP @PortiaLJohnson]

Tennessee here I come!

[Andrew Lokenauth @FluentInFinance]

US States with no State Income Tax:

• New Hampshire
• South Dakota
• Washington
• Tennessee
• Wyoming
• Nevada
• Florida
• Alaska
• Texas

Would you live in any of these States?

[ProfessorP @PortiaLJohnson]

😂

[ProfessorP @PortiaLJohnson]

When someone can stay home & make more than if they worked, staying home seems the rational self-interest-maximizing economic decision. We can’t talk #welfareReform without #salaryReform.

[Billy Binion @billybinion]

Thread: The Supreme Court is hearing a big case tomorrow. It should unite everyone: left, right & center. And the national press has almost totally ignored it.

It centers on an elderly woman who fell behind on her taxes. So the county took her home, sold it, and kept the profit.

[ProfessorP @PortiaLJohnson]

If we’re going to normalize renting as a tenure choice & acceptable alternative component of the #AmericanDream, we’ve got to advance the Renter’s Bill of Rights nationally.

[Senate Banking and Housing Democrats @SenateBanking]

LIVE NOW: Building Consensus to Address Housing Challenges.

Tune into our hearing: https://t.co/oto6EWT3Ob

[ProfessorP @PortiaLJohnson]

Don't miss the early bird special! The Summer Mortgage Conference hosted by the National Consumer Law Center (NCLC) and the National Association of Consumer Advocates (NACA), June 5-6, 2023.

[ProfessorP @PortiaLJohnson]

Zooming to a #NEAFCS 2022 Annual Conference morning session.

[ProfessorP @PortiaLJohnson]

@jonesloflin opens the #NEAFCS 2022 Annual Conference by giving keys to thriving in Extension.