Housing is so unaffordable that banks are losing money for each mortgage they finance for the first time ever
In 2022, independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $301 for every mortgage they financed. That represents a 113% decrease from last year's average income of $2,339 a mortgage and is the first time that banks posted negative profits for financing home loans since the MBA began recording profits in 2008.
US property taxes rose twice as fast last year than in 2021
Redlands Daily Facts
Property taxes increased twice as fast last year than in 2021 in the US, with many areas in the South and West increasing by more than the national average. Even after the gains, single-family-home property taxes remain much lower in the Sun Belt than in the Northeast, according to a report released by real estate data firm Attom on Thursday.
Idaho Law Alters Property-Tax Assessments for Self-Storage Businesses
Inside Self Storage
Idaho Gov. Brad Little signed House Bill 230 (HB 230) into law on April 4, which modifies the assessment process for incoming-producing properties, including self-storage facilities. The new law takes effect on July 1, according to an April 10 email newsletter to members of the national Self Storage Association (SSA), which supported the bill.
WeWork Quietly Exited 120K SF Back Bay Space
WeWork has vacated a large space in the Back Bay, another blow to Boston's struggling office market. The coworking provider exited a 119K SF lease at Capital Properties and Madison International Realty's 31 St. James Ave., JLL revealed in its first-quarter office market report. A source familiar with the exit confirmed to Bisnow the space closed last year, but the closure hasn't been previously reported.
Guest column: The Montana Legislature's attack on local government
Bozeman Daily Chronicle
Why the persistent attack on local governments this session? It starts at the top with the governor and his Housing Task Force Report providing the smoke and mirrors to put the lack of affordable housing in Montana on extravagant local taxes in our communities. So, the knee-jerk reaction from those legislators wanting to stay in the good graces of the governor is simple.
New Hampshire property tax burden is seventh highest in the nation, says report
When it comes to the burden of paying property taxes, New Hampshire ranks seventh among all states in a new report on single-family home assessments. And the values of those homes continue to rise, with the statewide median sales price of a single-family home rising to $445,000 in March.
Port Aransas property owners see appraisals skyrocket
Some homeowners in Nueces County experienced sticker shock when they opened up their property-tax appraisal notices. Some residents saw an increase last year, but this time around, some are seeing double than what they paid the year prior. Nueces County Chief Appraiser Ronnie Canales said that more than 160,000 appraisal notices went out beginning April 3.
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