I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. These cheap UK shares look ‘oversold’ to me. I’d buy ahead of a bumper recovery Image source: Getty Images Matthew Dumigan | Thursday, 4th June, 2020 In the depths of the stock market crash, the FTSE 100 index shed a staggering 32% of its value. Since then, global stocks have staged an impressive comeback, but many still trade below their average historic valuations. In my view, there’s an array of cheap UK shares on offer at the moment that look oversold thanks to the market crash. I think long-term investors could realise some serious returns by investing in a selection of them today.Oversold stocksIn this context, stocks that appear oversold are companies whose share prices have decrease substantially. So much so that the stock may have become undervalued as a result of a major sell-off. Remember though, investors seeking undervalued stocks don’t simply buy shares because the price has fallen, but because, in their view, it has fallen too much.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…It can be difficult to spot oversold and undervalued stocks. But there are several things you can look out for. The price-to-earnings ratio is perhaps the most useful indicator. To put it simply, the P/E ratio illustrates what investors are willing to pay for a particular share based on its past or future earnings.A low P/E ratio, especially relative to other companies in a given industry, is often a sign that a stock is undervalued, as the current share price is low relative to earnings. However, investors shouldn’t completely dismiss companies with high P/E ratios as there may be good reason for this. For example, faster growing companies usually have higher P/E ratios as investors expect growth to continue in the future. With that in mind, here are a few cheap FTSE 100 shares that I think meet the criteria.Cheap UK sharesBritish property developer Bellway has seen its share price plunge 34% since its mid-February high. Understandably, investors cashed out in response to the outbreak of Covid-19, causing the share price to tumble. However, throughout the lockdown, Bellway’s order book remained “substantial”, with prices reported to be similar to pre-pandemic levels. As such, with a P/E ratio of 6.2, Bellway shares look oversold and thus, undervalued to me.Cigarette and vaping giant British American Tobacco is one of only a handful of companies that has, so far, managed to stand by its dividend policy and earnings target. Impressively, the group still expects growth in 2020 after having a strong start to the year. Volumes were up 0.4% and market share rose by 0.2%, a small but significant figure. Despite this, the company’s P/E ratio is only 9.8. Combine this with a bulky 6.5% yield and the stock looks ridiculously undervalued in my eyes.Finally, UK-based cinema chain Cineworld also saw its share price take a beating in the sell-off. In the depths of the crash, the shares fell by 88%. Since then however, the stock has recovered slightly and now sits down by 53%. Having received £89.73m of additional liquidity, the group reckons it has sufficient headroom to survive a complete closure until the end of the year. Nonetheless, the firm expects to be screening films by July. A P/E ratio of 5 backs up the idea that the company may be undervalued and as such, could prove a worthy long-term investment. All things considered, if you have spare cash to invest, targeting undervalued UK shares could prove a wise strategy. After all, stocks that are truly undervalued offer the prospect of attractive returns through significant share price apperception. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. Enter Your Email Address I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. See all posts by Matthew Dumigan Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. 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ArchDaily Projects Structural Engineer: House Gele Lis / GAAGA Architects: GAAGA Area Area of this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/870876/house-gele-lis-gaaga Clipboard The Netherlands Products used in this ProjectDoorsReynaers AluminiumSliding Systems – Hi-Finity®Energy Performance, Building Physics En Acoustics:GAAGAArchitects In Charge:Esther Stevelink, Arie BergsmaCity:The HagueCountry:The NetherlandsMore SpecsLess SpecsSave this picture!Courtesy of GAAGALove at first sightThe clients asked several architects to come up with a vision for the design of their house. We made a small draft model which they fell in love with right away.Save this picture!Courtesy of GAAGAIn the leafy neighbourhood of Ypenburg, an outer suburb of The Hague, most plots on Gele Lis street had already been built on. There was one long, narrow plot still available. While it was located on the water, it also had buildings at a distance of only five metres on both sides – so sun, unobstructed views and privacy were hardly a given.Save this picture!Courtesy of GAAGAThe future residents asked various architects to come up with a vision for the plot. They fell in love at first sight – their words, not ours – with the small draft model we produced.Save this picture!Floor PlansPlot passportThe municipality steered urban development by issuing so-called ‘plot passports’ and it looks like the residents here have tested the limits of what’s allowed. Most lots have been built on as much as possible, giving the neighbourhood an almost urban feel. One of the municipality’s requirements was related to the façade: this had to be constructed of at least 50% wood. In addition, the ecological zone on the water side of the plot could be used, but not built on.Save this picture!Courtesy of GAAGAWe located the outdoor space on the sunny longitudinal side of the plot. By partly walling in the garden and raising it slightly, we created a sunny, private garden room as an extension of the interior space. The outdoor space extends to the ecological zone behind the house, forming a comfortable green oasis.Save this picture!Courtesy of GAAGAIngenious blocksThe house is actually formed from two blocks, one on top of the other. The upper block is slightly larger than the lower, and has been shifted slightly to one side. The overhang this creates serves to further enhance the feeling of a private garden room while serving as an attractive awning for the living room.Save this picture!Courtesy of GAAGAIn addition, the placement of the upper block created the possibility of adding a long skylight to the ground-floor ceiling on the other side. Not only does this have an exceptional effect on the light in the room, but it also made openings in the façade unnecessary on that side of the structure – which is an added bonus for privacy.Save this picture!Courtesy of GAAGAProject gallerySee allShow lessCrowdfunded Architecture Tourbooks Help You Discover Cities’ Best Kept SecretsArchitecture NewsZagreb Airport / Kincl + Neidhardt + Institut IGHSelected Projects Share 2016 CopyHouses•The Hague, The Netherlands Manufacturers: Pilkington, Reynaers Aluminium, Knauf, Plaka, Xinnix, strikolith House Gele Lis / GAAGASave this projectSaveHouse Gele Lis / GAAGA ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/870876/house-gele-lis-gaaga Clipboard “COPY” Manufacturers Brands with products used in this architecture project “COPY” Faas & Van Iterson Aannemersbedrijf Schotte BV, Pijnacker Products translation missing: en-US.post.svg.material_description Area: 180 m² Year Completion year of this architecture project Save this picture!Courtesy of GAAGA+ 14 Share Houses Contractor: CopyAbout this officeGAAGAOfficeFollowProductsWoodConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesThe HagueThe NetherlandsPublished on May 10, 2017Cite: “House Gele Lis / GAAGA” 10 May 2017. ArchDaily. Accessed 11 Jun 2021.
“COPY” Projects Manufacturers: Bosch, Fleetwood, Maytag, Brian’s Cabinets, Five Twenty Two Industries, Freedom Concrete, Pollioni Design United States The Meadow Home / Feldman Architecture Area: 3970 ft² Year Completion year of this architecture project City:Portola ValleyCountry:United StatesMore SpecsLess SpecsSave this picture!© Paul DyerRecommended ProductsDoorsSaliceSliding Door System – Slider S20WoodParklex International S.L.Wood cladding – FacadeWindowsFAKRORoof Windows – FPP-V preSelect MAXEnclosures / Double Skin FacadesIsland Exterior FabricatorsCurtain Wall Facade SystemsText description provided by the architects. The design team was inspired by prominent views and beautiful slopes to build a structure on the landscape to minimize its massing on the originally undeveloped site. The home’s L-shaped layout lies low on the brow of a grassy knoll, placed gently into the ground, matching the contours of the hill. Save this picture!© Paul DyerSave this picture!Floor planSave this picture!© Paul DyerThe home’s main wing boasts a spacious joint kitchen, dining room, and living area whose floor-to-ceiling glass doors and windows open to reveal an expansive patio. The home is at once opened to the surrounding landscape, and views of the encompassing prairie, seamlessly merging interior and exterior spaces. Splayed concrete walls, diminishing in height as they approach the house, direct the gaze to Windy Hill sitting on the western horizon.Save this picture!© Paul DyerThe site moves unimpaired through and over the home; a green roof atop the garage acts as an extension of the surrounding prairie, while visually permeable rooms allow the meadow to continuously flow through the home. The house’s cedar siding, stained a warm grey and complimented by the crisp horizontal lines of the black roof, further embeds the house in its natural surroundings and strikes a beautiful balance between rural and distinctly modern aesthetic.Save this picture!© Paul DyerProject gallerySee allShow lessThe Second Affiliated School of New Jiangwan of Fudan University / TJADSelected ProjectsChen Xi Community Center / Group BESelected Projects Share “COPY” Year: Kim Cladas Lighting Design Zaharias Design Photographs Houses 2016 ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/927158/the-meadow-home-feldman-architecture Clipboard Save this picture!© Paul Dyer+ 17Curated by Paula Pintos Share Builder: Lighting Designer: ArchDaily BKF Engineers Civil Engineer: CopyHouses•Portola Valley, United States Photographs: Paul Dyer Manufacturers Brands with products used in this architecture project Architects: Feldman Architecture Area Area of this architecture project Art of Construction ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/927158/the-meadow-home-feldman-architecture Clipboard The Meadow Home / Feldman ArchitectureSave this projectSaveThe Meadow Home / Feldman Architecture Lutsko Associates CopyAbout this officeFeldman ArchitectureOfficeFollow#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesPortola ValleyOn FacebookUnited StatesPublished on October 25, 2019Cite: “The Meadow Home / Feldman Architecture” 24 Oct 2019. ArchDaily. Accessed 10 Jun 2021.
Red Cross shops appeal for stock as part of Haiti emergency appeal About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. British Red Cross Director of Fundraising, Mark Astarita, said: “We are responding to customers and donors’ desire to do that bit more for Haiti. Cash is best but for many it may not be an option. Advertisement AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis The British Red Cross is, for the first time, appealing for stock for its 316 stores as part of an emergency appeal.It has taken the unusual step in response to the public’s desire to help its work in the aftermath of the Haiti earthquake. It says that it is offering the public another way to help support its work at this time. Howard Lake | 25 January 2010 | News Selling an item at a British Red Cross shop New British Red Cross till (photo: British Red Cross) 23 total views, 2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis “We can’t send donated goods to Haiti but this is a way of turning an unwanted Christmas gift into cash that will go directly to help the thousands of people affected by the earthquake in Haiti. www.redcross.org.uk Tagged with: Trading Until Saturday 13 February British Red Cross shops will be accepting donations of good quality clothing, books, household items and unwanted gifts to sell for the DEC Haiti Earthquake Appeal. “We have not done something like this in retail in recent memory and it has been made possible by our high tech tills that can track and bank to the DEC Haiti Earthquake Appeal.” People can drop off their donated goods at their local Red Cross shop, say they want them to be sold for Haiti, and they will be specially labelled for shoppers to see.
New YorkAs so-called essential workers fight for their rights on the job, they continue to be the most reliable fighters for COVID safety, PPE and a rational response to the pandemic.New York laundry workers and supporters rally on Nov. 25. (WW Photo: Toni Arenstein)From healthcare workers in California and Washington State, to nursing home workers in Illinois, to school bus drivers in Ohio, workers are striking, fighting back and organizing while COVID numbers increase exponentially and the White House ignores the crisis.In New York, the front lines of this fight include the ranks of laundromat workers, 95 percent of whom are women and migrants. Their fierce struggle against workplace racism and exploitation now includes demands for PPE and proper ventilation.On Nov. 25, the International Day of the Prevention of Violence Against Women, six migrant workers organized by the Laundry Workers Center launched a union drive at the Manhattan laundromat Wash Supply.Dozens of supporters came out to support the launch of this campaign, including Workers Assembly Against Racism, Street Vendors Project, Food Chain Workers Alliance, City University of New York (CUNY) Internationalist Club and local clergy.The Workers Assembly Against Racism (WAAR) had pledged at their most recent meeting to support this campaign. Held on Nov. 21, the assembly included reports from workers active in the New York teachers’ struggle; an activist involved in a strike readiness authorization vote by CUNY teachers; an official with the Transport Workers Union; and a report on the upcoming Nov. 25 action by the Laundry Workers Center.WAAR was formed in October, in the wake of a righteous call by trade unionists to conduct strikes and work stoppages against racism, with the purpose of expanding that call from the ranks of organized labor — about 10 percent of the workforce — to the rest of the workforce. Many unorganized workers take part in Black Lives Matter protests. WAAR activists have asked: Why not unite the anti-racist movement with the workers’ movement?This focus includes supporting cutting-edge workers’ struggles. So on Nov. 25, WAAR sent ten of its members, many of whom have participated in the Black Lives Matter protests, to support the launch of the organizing campaign at Wash Supply, a campaign for workers’ rights as well as a fight against racism and sexism.The laundromat is located on the upper west side — one of the most expensive places to live in New York City, the center of world capitalism.That wealth does not translate into decent wages for laundry workers. In fact, the workers at Wash Supply, all women, face intensified exploitation. They are paid below minimum wage. They work 60 hours a week with no overtime pay, no paid sick days, and no COVID safety precautions. They work under atrocious health and safety conditions in a tiny basement with no ventilation, no heat in the winter, no emergency exits and no PPE. The workers have even been forced to buy their own toilet paper just to use their workplace bathrooms.Even taking an hour to eat lunch is a struggle, which is why the workers used their first full lunch hour on Nov. 25 to deliver to their bosses demands for a union, better conditions and better pay.After a raucous protest that met in a nearby playground and then marched to the front of Wash Supply, the workers, all wearing the same color T-shirts and aprons stencilled with the words WE ARE THE UNION, went into the workplace to deliver their demands to the employers. They were joined by supporters from the rally, who jammed into the tiny basement behind the workers, overflowing onto the small stairway leading down to it.One by one, the workers approached and confronted their boss to tell them they wouldn’t accept humiliation, abuse or exposure to COVID any more. One worker said to her boss, “When I’m having lunch you come to us and tell us to stop and get back to work. We’re sick and tired of this and we don’t want to take it any more!” The supporters standing behind her and her coworkers cheered.The turnout made it clear to the bosses that these six workers had community support. The need for this was obvious. The manager held her cell phone up while being confronted by the workers, making it clear she was videoing them. One of the main rally slogans, “The community is watching” — on signs and chanted by the protesters — let the bosses know that any retaliation for the workers demanding their rights would be met with swift fightback.A rally announcement by Laundry Workers Center leaders served to back up that promise. Rosanna Rodriguez announced to the crowd that one of the LWC’s other campaigns — the Justice for Beatriz Campaign, at the New Giant Launder Center in Queens — resulted in victory, with the worker involved recovering stolen wages and returning to her job with better working conditions.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
News LatviaEurope – Central Asia LatviaEurope – Central Asia Help by sharing this information November 23, 2020 Find out more Receive email alerts News Follow the news on Latvia RSF_en April 18, 2010 – Updated on January 20, 2016 Newspaper owner gunned down in apparent contract killing Ten RSF recommendations for the European Union News News to go further December 2, 2020 Find out more Reporters Without Borders is stunned to learn that media owner Grigorijs Ņemcovs was the victim of an apparent contract killing on 16 April in Daugavpils, the largest city in the southeastern region of Latgale. Publisher of the regional newspaper Million and owner of a local TV station of the same name, Ņemcovs was shot twice in the head at close range when he went to a meeting in a café. He was already dead when the emergency services arrived at the scene.“We are both shocked and surprised by this murder,” Reporters Without Borders said. “Our thoughts are with Ņemcovs’ wife and daughter, and we offer them our condolences. Carried out with remarkable professionalism, this murder is incomprehensible. Its motives must be identified. The killing of a journalist is always unacceptable and poses a threat to all the media.” The press freedom organisation added: “We urge the Latvian authorities to pursue their investigation until the masterminds are identified. This murder must not remain unpunished”Ņemcovs’ murder, which took place at around 5 p.m. on 16 April, appears to have been carefully planned and executed. The gunman seems to have been following Ņemcovs when he arrived at a café on Lacplesa Street near the University of Daugavpils. The police, who have formally opened an investigation, found bullet casings along with the gun near the crime scene but have not yet identified any suspects.Founded by Ņemcovs in 1995 and now Latvia’s biggest regional Russian-language newspaper, Million is renowned for its investigative coverage of political and local government corruption and mismanagement. Ņemcovs was also an activist and deputy mayor of Daugavpils whose support played a major role in the success of the civil society movement Latgales Tauta (Nation of Latgale).Death threats were made against Ņemcovs in 2007 and his house was burned down. The arsonists were never identified. He was also physically attacked in 2000 by unidentified assailants who took his passport.Latvia has seen a number of serious press freedom violations in recent years. Gundars Matīss, a journalist working for the daily Kurzemes Vārds (in the Liepāja region), was murdered in connection with his work in 2001. Other journalists have been stabbed or beaten in the past decade. The offices of the daily Neatkariga Rita Avize were ransacked in January of this year. Not all of these cases have been solved. Organisation Use the Digital Services Act to make democracy prevail over platform interests, RSF tells EU June 2, 2021 Find out more RSF and 60 other organisations call for an EU anti-SLAPP directive
Reporters Without Borders has protested against the expulsion of Dan DeLuce, correspondent in Tehran for the British daily The Guardian.”This decision infringes press freedom and shows once again that the Iranian authorities cannot tolerate criticism,” said secretary-general Robert Ménard.DeLuce upset the authorities by reporting without permission from Bam, in the south-east of the country, where an earthquake on 26 January this year left 26,000 people dead.The journalist went there a first time, covering a visit in February by Prince Charles, but when he applied to go back, the Iranian authorities refused him permission. DeLuce went anyway to assist an Iranian relief organisation.The newspaper’s management said he had not intended to write another article but changed his mind after he arrived. His report referred to criticism among local people of the government’s reconstruction policy.Iran, with more than 12 incarcerated, is the Middle East’s biggest prison for journalists. News to go further May 20, 2004 – Updated on January 20, 2016 Correspondent for The Guardian expelled RSF_en IranMiddle East – North Africa News March 18, 2021 Find out more After Hengameh Shahidi’s pardon, RSF asks Supreme Leader to free all imprisoned journalists News Receive email alerts News Call for Iranian New Year pardons for Iran’s 21 imprisoned journalists IranMiddle East – North Africa February 25, 2021 Find out more June 9, 2021 Find out more Help by sharing this information Organisation Follow the news on Iran Iran: Press freedom violations recounted in real time January 2020
Bank of America Chase Citibank HUD National Mortgage Settlement Wells Fargo 2014-03-18 Colin Robins Tagged with: Bank of America Chase Citibank HUD National Mortgage Settlement Wells Fargo Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Colin Robins March 18, 2014 902 Views Share Save The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Banks Complete Consumer Relief Obligations The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. Home / Daily Dose / Banks Complete Consumer Relief Obligations Print This Post Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Joseph A. Smith, Jr., monitor of the National Mortgage Settlement, filed final crediting reports with the U.S. District Court for the District of Columbia on Bank of America, Chase, Citibank, and Wells Fargo.The reports confirmed that the banks have satisfied their consumer relief and refinancing obligations under the settlement, nearly a full year ahead of schedule.In a press release, Smith commented, “My reports mark the end of the consumer relief portion of the Settlement. Because of the way this landmark agreement was designed, an unprecedented amount of relief has been provided to consumers quickly and efficiently.”He continued, “Furthermore, I believe the rigorous testing process should justify public confidence that the banks have fulfilled their relief commitments and that the Settlement has played a part in helping keep struggling borrowers in their homes.”Remunerations were called for after the banks engaged in widespread signing of foreclosure-related documents outside the presence of a notary public, and without confirmation whether the facts they contained were correct—both illegal actions.The practice earned the futuristic-sounding sobriquet “robo-signing,” and necessitated 49 state attorneys general and the federal government to correct actions against wronged homeowners, eventually settling with the banks for an initial estimated figure of $25 billion.Oklahoma was the lone holdout.Smith noted that among the banks, 37 percent of total credit relief was in the form of first lien principal forgiveness, while second lien principal forgiveness made up 15 percent. Refinancing made up 17 percent of total credited relief, and other relief (including short sales and deeds in lieu of foreclosure) accounted for 31 percent of relief.Shaun Donovan, secretary of Housing and Urban Development (HUD), commented on a conference call with the media on Tuesday that over 600,000 consumers received on average more than $79,000 in relief.7 out of every 10 dollars of credit for consumer relief, such as refinancings and principal reductions, came in a form that kept borrowers in their homes, Donovan said on the call.Donovan added, “This settlement delivered on what we promised.”The tone of the call between Donovan and Iowa attorney general Tom Miller was mostly laudatory towards the banks, praising them for quick action as well as payments that exceeded initial estimates.Miller noted that $20 billion in credits and over $50 billion in total homeowner benefits were “well in excess of what we predicted or expected.”$5.1 billion dollars was required for first lien principal reductions in the initial settlement, but the final figure from bank’s totaled almost $7.6 billion—nearly 50 percent more than what was required.Miller fired back at detractors of the settlement who cautioned that principal reductions would create a “moral hazard,” encouraging borrowers to default on their loans to avoid payment.”Many people in the industry … were saying that if there was any principal reduction there would be all this moral hazard, other people would stop paying—that the whole market would be seriously harmed. Well, we’ve had substantial principal reduction, 7.6 billion dollars’ worth, and none of this has happened. None of the problems, none of the concerns, none of the catastrophes that were predicted happened, as we predicted,” Miller said.He noted that principal reductions were “a tool in the toolkit for dealing with homeowners in default.”Miller continued, “We knew that there was no single solution, no magic bullet, to turn around the housing market. We knew there had to be pieces, and we thought that this would be one of the pieces, and clearly it has been. This is one of the reason’s the housing market now has turned in the right direction.” in Daily Dose, Featured, Government, Headlines, Loss Mitigation, News Related Articles Previous: Ocwen to Pay $2.1 Billion to 49 States Next: DS News Webcast: Wednesday 3/19/2014 Sign up for DS News Daily Subscribe
The Week Ahead: Nearing the Forbearance Exit 2 days ago Proceed With Caution: Existing Home Sales and Economic Growth Previous: Tear-Down Starts Boast Year-Over-Year Increase Next: Reconstruction Program Aims to Soften Fallout of Natural Disasters Servicers Navigate the Post-Pandemic World 2 days ago June 19, 2017 1,931 Views Consumer Spending Economic Growth Fannie Mae 2017-06-19 Brianna Gilpin in Daily Dose, Featured, News, Secondary Market The U.S. is embarking on its ninth year of economic expansion and Fannie Mae is predicting economic growth rebound. According to their Economic & Strategic Research Group’s June 2017 Economic and Housing Outlook, second quarter economic growth will rebound to 2.9 percent from last quarters 1.2 percent. Consumer spending growth is expected to return to its traditional role as the biggest contributor to economic growth, picking up to 3.1 percent this quarter from 0.6 percent in the first quarter. Fannie Mae said moderate growth is expected to continue into next year, however uncertainty in fiscal and monetary policy makes the forecast a little difficult.“This month marks the eighth anniversary of the U.S. economic expansion, the third-longest of the post-World War II era. While we expect modest growth to continue in 2018, the potential for fiscal stimulus remains a notable wild card,” said Fannie Mae Chief Economist Doug Duncan. “The odds that Congress will enact major pieces of legislation this year and jump-start meaningful fiscal stimulus have diminished, and the economy also faces another fiscal policy uncertainty in coming months, as Congress will have to raise the debt ceiling to avoid a government shutdown.”Duncan said the Federal Open Market Committee’s June decision to raise the fed funds rate by 25 basis points has increased the uncertainty of monetary policy.“Our June forecast assumes that the Fed will increase the target rate once more this year in September and will begin to taper reinvestment of principal payments from its securities holdings in December. However, the recent slowdowns in hiring and inflation could lead the Fed to hold off on the September rate hike in order to gather more data.”According to Duncan, the housing market hasn’t changed all that much in the last year. Labor and inventory shortages are constraining sales and therefore increasing home prices.“We expect total home sales to rise 3.2 percent this year and total single-family mortgage originations to drop about 21 percent to $1.62 trillion,” Duncan said. “A large drop in refinance originations will likely outweigh a modest rise in purchase originations. We expect the refinance share to move down to around 34 percent in 2017 from 48 percent in 2016.”For more details on Fannie Mae’s June 2017 Economic and Housing Outlook, click here. Demand Propels Home Prices Upward 2 days ago Print This Post Sign up for DS News Daily Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] About Author: Brianna Gilpin Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Tagged with: Consumer Spending Economic Growth Fannie Mae Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Proceed With Caution: Existing Home Sales and Economic Growth