NW REPORTER

NW REporter

August 2022 Issues

Beat the heat without AC

Whether called heat advisories, excessive heat warnings, heat domes, or dangerous heat waves, scorching temperatures have millions of Americans clamoring for relief from record-breaking high temperatures. The U.S. Global Change Research Program says the warming climate means today’s heat waves last longer and are more intense. According to their latest [..]

One-third of declined mortgage applications qualified for homebuyer assistance

One of every three (33%) of declined loan applications were likely eligible for multiple homebuyer assistance programs, according to an analysis by Down Payment Resources (DPR). DPR’s analysis indicated a substantial share of mortgage loan applications were declined for reasons that could be addressed with homebuyer assistance. One-third of all [..]

Fannie, Freddie roll out inaugural Equitable Housing Finance plans

Two government-sponsored enterprises (GSEs) unveiled their first Equitable Housing Finance (EHF) plans in early June. In announcing the plans, the Federal Housing Finance Agency (FHFA) said they are designed to address barriers experienced by renters, aspiring homeowners, and current homeowners – particularly in Black and Latino communities. Included in the [..]

Housing affordability challenges face home buyers and renters

Describing the housing market as being at an inflection point, authors of The State of the Nation’s Housing 2022 expect both record-breaking home prices and rents to cool as interest rates climb. They also found troubling racial and ethnic disparities, along with persistent affordability challenges. This year’s report from the [..]

Brokers say all parties in housing transactions need to recalibrate during shifting market

KIRKLAND, Washington (August 4, 2022) – New statistics from Northwest Multiple Listing Service confirm reports of a shifting housing market, prompting one industry leader to suggest “all parties involved in a transaction today have to recalibrate.” Read the Latest Press Release Other resources: Market Report Video Statistical Reports (Members Only)

Housing briefing for public officials explores solutions for attainable housing

To set the stage for a discussion on “missing middle housing,” featured speaker Karen Parolek presented some key data on shifting household demographics: Today, 30% of households are single persons; By 2025, 75-85% of households will not have children; By 2030, 1 in 5 Americans will be 65+; Increasingly, multi-cultural [..]

News In Brief: August 2022

Washington state is one of the nation’s best for wellness, according to a new study from lifeextension.com. The wellness company used 11 metrics across three main categories in all 50 states and the District of Columbia: physical and mental health, access to national parks and nature, interest in integrative health [..]

Real estate keeps #1 ranking as favorite for long-term investing

Real estate retained its top spot as American’s favorite long-term investment, according to a survey by Bankrate. That marked the third time in the past four years and sixth time in the past decade that respondents picked real estate for investing money they didn’t need for 10 or more years. [..]

SKCR Events Calendar: August 2022

August 2022 SKCR Events Calendar

Seattle payroll tax will fund 1,700 affordable housing units from first year’s receipts

JumpStart Seattle, a payroll tax applied to high salaries, amassed more than $248 million in its first year. Those funds will be allocated to 17 groups serving low-income and homeless populations. Their combined projects will produce 1,700 affordable housing units. Seattle City Council members passed the JumpStart proposal by a [..]

Washington earns high marks for state economy, doing business

Washington earned first place for having the best state economy and was runner up in an annual ranking of “America’s Top States for Business in 2022.” Washington climbed seven spots in the CNBC list compared to 2021, with its healthy workforce, strong economy and booming technology and innovation sectors among [..]

Brokers say all parties in housing transactions need to recalibrate during shifting market

KIRKLAND, Washington (August 4, 2022) – New statistics from Northwest Multiple Listing Service confirm reports of a shifting housing market, prompting one industry leader to suggest “all parties involved in a transaction today have to recalibrate.” “Today’s buyers have their cups finally overflowing with options as residential inventory grows to [..]