The video in the adjacent link addresses a popular issue often discussed on the Legal Information Line. NVR General Counsel Tiffany Banks answers some prevalent questions about Nevada's expiring eviction moratorium and how it relates to the federal CDC moratorium.
Do you know how Nevada law reads on the subject? Watch this short Legal Minute video and learn all you need to know. If you have any questions, please call the Legal Information Line at 800-748-6999. Click here to watch the video.
Remote work and mobility are expected to have the most significant impact on real estate over the next year, according to The Counselors of Real Estate's list. The group identified current and emerging issues expected to have an influence over real estate in the 2021-2022 cycle. Remote work and mobility and its influence over commercial buildings globally was named as the top issue, followed by technology and ESG (Environment, Social, and Governance).
"The pandemic was a stress test, revealing vulnerabilities, appetites, and new and increased risks," says Michel Couillard, global chair of The Counselors of Real Estate. "These themes present themselves in the 2021-2022 Top Ten Issues, which are highly interconnected and indicative of a newly changed and further evolving real estate environment. We have been awakened to some familiar but nascent areas of importance, namely cybersecurity, supply chain, and price instability. None of these are new concepts, but in a span of months or even just weeks, we saw high profile hacks, shortages of resources like microchips, lumber and labor, and rising prices across the board."
Click here for a closer look at the Top 10 issues on CRE's list for 2021-2022.
The REALTORS® Relief Foundation was created in the immediate aftermath of September 11, 2001, with the belief that no American should be left homeless because of a terrorist attack or natural disaster. Realtors® raised $8.4 million within 100 days of the attacks, and in the years since have raised and disbursed tens of millions in additional funds to the victims of hurricanes, floods, wildfires and other disasters. As the nation marks two decades since 9/11, RRF is commemorating its 20th anniversary by launching Hope Rising, a campaign designed to ensure the Foundation can respond to disasters as quickly and effectively as possible.
"Today, almost 20 years after its founding, the REALTORS® Relief Foundation continues to respond to the nation's biggest disasters, ensuring Americans have a roof over their heads and a place they can call home even in the worst of times," said NAR President Charlie Oppler, a Realtor® from Franklin Lakes, N.J., and the CEO of Prominent Properties Sotheby's International.
With major natural disasters in the U.S. becoming more common, RRF has been forced to intensify its focus on sustainability for the years ahead, particularly as it is currently distributing funds almost as quickly as they are received. Hope Rising is part of a deliberate effort to better position RRF for the next 20 years, formally shifting its fundraising efforts to a more proactive model. Click here to learn more.
ATTOM last week released its second-quarter 2021 U.S. Home Affordability Report, showing that median home prices of single-family homes and condos in the second quarter of this year are less affordable than historical averages in 61 percent of counties across the nation with enough data to analyze. That was up from 48 percent of counties in the second quarter of 2020, to the highest point in two years, as home prices have increased faster than wages in much of the country.
The report determined affordability for average wage earners by calculating the amount of income needed to meet monthly home ownership expenses - including mortgage, property taxes and insurance - on a median-priced single-family home, assuming a 20 percent down payment and a 28 percent maximum "front-end" debt-to-income ratio. That required income was then compared to annualized average weekly wage data from the Bureau of Labor Statistics. Click here to continue reading.