Million-dollar homes nearing 10% of market as property prices rise

Nearly one in ten homes in the U.S. are worth at least $1 million dollars, close to all-time-high levels of June 2022, according to a new report from Redfin.Just over 8% of homes are worth $1 million or more, not far off the high of 8.6% in June. This upswing in home prices comes on the heels of a m
Read MoreTrade groups oppose rent control on GSE-backed multifamily properties

A coalition of high-profile housing providers, resident and lenders’ associations say rent control could increase rent, reduce the capital to boost housing supply and hurt renters.The letter was in response to a request for input issued by the Federal Housing Finance Agency (FHFA) in May regarding p
Read MoreCertain CFPB enforcement actions in limbo ahead of constitutionality ruling

Certain enforcement actions being sought by the Consumer Financial Protection Bureau (CFPB) are being stayed in courts pending the outcome of an upcoming United States Supreme Court case that will decide the Bureau’s constitutionality.In a predatory lending lawsuit the CFPB and New York Attorney Gen
Read MoreFinCEN crackdown on real estate money laundering expected this month

After years of discussion, the U.S. Treasury Department is expected to propose a rule that would effectively end anonymous luxury home purchases in the coming weeks, according to the Financial Crimes Enforcement Network’s (FinCEN) regulatory agenda.The rule, which department officials first said the
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