News Digest - November 4, 2021

News Digest

By Frank Pellegrini

Are Starter Homes a thing of the Past? –

The starter home is often considered a smaller, more affordable house that appeals to first-time buyers. But the surging housing market and home prices are putting more and more out of reach, leaving some wondering whether these homes will ever return.

Underwater: Values on Dozens of U.S. Malls Slashed by more than 70% During Pandemic

A total of 45 U.S. malls with $3 billion of property debt have seen their values deeply slashed by at least 70% during the pandemic from their most recent financing, according to a list complied for MarketWatch by CRED iQ.

Report Reveals Significant Increase in Mortgage Fraud Risk Mortgage Professional America

CoreLogic’s latest report revealed a 37.2% year-over-year spike in mortgage fraud risk in the second quarter. At the end of Q2 2021, about one in 120 mortgage applications (approximately 0.83% of all applications) contained fraud – similar to pre-pandemic levels. By comparison, one in 164 applications, or an estimated 0.61% of total applications, were fraudulent in Q2 2020.

The Future of Real Estate Transactions on the Blockchain

 A Forbes contributor predicts that, “Four years from now, blockchain-integrated real estate will be implemented on a whole new level beyond payments in a digital currency.

The Housing Market will cool off in 2022, but not by much, says Fannie Mae

Over the past year, U.S. home prices are up a record 19.8%. You don’t need to be an economist to know that the current level of growth—which is faster than the run-up to the 2008 financial crisis—isn’t sustainable. But where will this historically competitive housing market go next?