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[ad_1] The Delhi Municipal Corporation (Amendment) Bill, 2022 is scheduled for consideration and passage in the Lok Sabha today. The bill aims at reunifying the three municipal bodies in Delhi, which were trifurcated in 2012 by the then Chief Minister Sheila Dikshit. Terming it unconstitutional, the AAP has alleged that the move was purposed to delay the civic polls in the city-state as the BJP was afraid of losing this time. Meanwhile, the Centre is likely to table the Constitution (Scheduled Castes and Scheduled Tribes) Orders (Amendment) Bill, 2022 for consideration and passage today. Union Tribal Affair Minister Arjun Munda will move the Bill further to amend the Constitution (Scheduled Castes) Order, 1950 to omit ‘Bhogta’ community from the list of Scheduled Castes in relation to Jharkhand and the Constitution (Scheduled Tribes) Order, 1950 for inclusion of certain communities in the lists of Scheduled Tribes in relation to the State for consideration. [ad_2] Source link

[ad_1] Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Wait, what? But we have a housing shortage, right? Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. The big theme of my housing work since 2010 has been that the housing market would have its weakest recovery from 2008 to 2019 because we simply built too many homes versus the real demand curve, and monthly supply proves that. If you look at the monthly supply for new homes from 1996 to 2005, it was always lower than what we saw from 2008 to 2019. New home sales were working from the lowest levels ever, but sales kept on disappointing analysts and economists. We had a few years where sales missed expectations in 2013, 2014, and 2015. Then in 2018, when mortgage rates got to 5%, we had a supply shock for the builders, which in essence stalled out construction for 30 months. New home sales were much more substantial, of course, heading toward the bubble peak of 2005, so as long as sales rose, the homebuilders would build. Then we had an 82% crash in new home sales, and the weakest new home sales recovery ever after 2010.. One of my big calls in the previous expansion was that we wouldn’t see housing starts begin a year with 1.5 million total housing starts until 2020-2024, when demand would warrant that many housing starts. I wrote about this topic last year: Why we can’t build our way out of this hot housing market. The new home sales market is always in competition with the existing home sales marketplace because that marketplace has a much more significant inventory with cheaper, older homes. So homebuilders can’t just put their head down and overbuild. On top of all the drama we have, housing completions look terrible, so there is some risk to the builders’ business model now that rates have risen.  As you can see in the chart below, the monthly supply of new homes is different than the monthly supply of existing homes. The existing home sales monthly supply is 1.7 months versus 6.3 months for the new home sales market. So how should we look at the inventory situation? Everyone has their way of looking at inventory, so let’s take a look at the different approaches. Mike Simonsen, founder and CEO of Altos Research, does a great job looking at the single-family inventory each week, using Altos’ real-time snapshot of what’s going on. Inventory is seasonal, rising in the spring and summer and fading in the fall and winter. So, we want this data line to be positive year over year, not negative. Watching the demand indicators very closely. Price reductions at 16.9% are slightly more than last year's frenzy record demand. Watch the steepness of this slope in the next few months. 3/6 pic.twitter.com/6wTCOXgNaG — Mike Simonsen (@mikesimonsen) March 28, 2022 Taylor Marr, lead economist at Redfin, tweeted a chart recently showing the decline in existing total inventory for years but the rise in single family inventory for the new home sales marketplace. As you can see above, total new home inventory has been rising for years and hasn’t made a dent in the whole inventory levels of the existing home marketplace, especially post 2020. Here is a look at Redfin’s data which you can also find weekly here: The Census Bureau chart below shows rental and homeowner vacancy rates, which paints a bleak picture. It shows there’s not just a lack of inventory of homes for sale, but also how the rental market is feeling the heat. The National Association of Realtors provides a monthly snapshot of inventory with its existing home sales report. I use this data line to give people a realistic take on the landscape of housing inventory with the existing home sales marketplace. Inventory from 2010 to 2019 was high enough that we didn’t see major bidding wars. However, inventory has broken down to such low levels that unhealthy bidding wars are more common since 2020. Inventory is very seasonal and we are about to get the spring and summer increases in inventory we see every year. We want the total inventory to rise and the total inventory data to be positive year over year. We want to get back to a range of 1.52 – 1.93 million homes, which would mean the madness in the housing market would be over. The chart below has the most recent inventory data from the last existing home sales report, which shows homes grew from 860,000 to 870,000 but was down year over year. After this report, I downgraded the housing market from unhealthy to savagely unhealthy as inventory showed negative year-over-year data. Once total inventory can get back into the range of 1.52 million to 1.93 million, I can take off the unhealthy housing market label. I hope higher rates do their thing regarding cooling down price growth and creating more days on the market. Yes, I know home sellers will pull back with higher rates, but you can see the issue with the existing home sales marketplace that doesn’t exist with the new home sales market. Right now, an American homeowner with a sub 3.25% mortgage rate has the best hedge against inflation, and they are looking great. In contrast, the new home sales supply inventory channels don’t have a homeowner who has been in their homes for 10-20 years. Hopefully, this explains some of the different dynamics between the new home sales market and the existing home sales marketplace. Because my home-price growth model of 23% in five years accelerated so fast in just two years, I am rooting for more inventory and prices to cool down noticeably so I can get ready for the year 2025. That’s an entirely different conversation

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[ad_1] Ruchi Soya has rescheduled its board meeting to March 31 to determine the follow-on public offer (FPO) issue price. The board was initially supposed to meet on March 29. On March 28, the markets regulator Sebi had asked the company to allow investors to withdraw their applications. The window will remain open till March 30.  According to the revised timelines, finalisation of allotment will happen by April 5, initiation of refunds (if any for anchor investors) or unblocking of funds will be done on April 6 and credit of shares will take place on April 7. The edible oil firm on Tuesday also said that it had lodged a first information report (FIR) on March 27, 2022, with the Haridwar police against a message that was circulating on social media, which prompted the market regulator to act. The FIR was filed under Section 67A of the Information Technology Act, 2000 and Section 420 of the Indian Penal Code, 1860. Ruchi Soya said the message circulating on social media was not issued by them or any of its directors, promoters, promoter group or group companies. Even though the company has filed an FIR ahead of the regulator’s directive, experts say it would be hard to monitor or track messages on social media unless the regulator has the requisite technological capabilities to track the origin of the messages like the one that was doing the rounds on Ruchi Soya. Commenting on the issue, Shriram Subramanian, founder and managing director of InGovern, a proxy advisory firm, said: “This is a high profile company. Sebi would have likely taken action, based on some evidence or inputs. It would have more evidence than some random person sending a message. The role of Sebi becomes important and the tools it employs to crackdown on social media messages will be important. At the end of the day, the market regulator has to employ newer tools to curb and track all these kinds of price manipulative activities.” Despite the directive by the regulator, from what the trend suggests, the issue will still get subscribed. Subramanian added that the Securities and Exchange Board of India (Sebi) should put out ‘dos and don’ts’ on what companies can do on social media. In the past few months, Sebi has already cracked down on social media stock tips. [ad_2] Source link

[ad_1] Figure Technologies co-founder and CEO Mike Cagney Mike Cagney didn’t expect to be releasing a cryptocurrency-backed 30-year fixed-rate mortgage product so soon. The plan was for Figure Technologies to launch such a product only after completing the merger with multichannel mortgage lender Homebridge Financial Services. But Cagney can’t wait: regulatory approval on the Homebridge deal hasn’t occurred yet, and frankly, demand for crypto mortgages is too strong. He’s launching in early April. “I’ve just been blown away by how many people are in a situation where they have significant crypto assets, and their lenders just won’t take it into consideration,” Cagney, co-founder and CEO of blockchain-built Figure, told HousingWire. “Crypto is some of the best collateral because it’s not only liquid, but liquid 24 hours a day.”  The fintech is gearing up to release a 30-year fixed rate mortgage for borrowers to use bitcoin and/or ether as collateral. Two other companies have announced the product since December, including Miami-based digital lender Milo and Toronto-based cryptocurrency lending platform Ledn.   Figure’s crypto-backed mortgage will have a 100% loan-to-value ratio and monthly collateral adjustments: if cryptocurrency prices drop, the client needs to deposit more collateral or pay down the loan balance to get the ratio back to 100%. Otherwise, the company will liquidate the collateral, Cagney said.  However, if the cryptocurrency price increases to a 125% loan to value ratio, the lender will release the excess back to the borrower. Figure will not rehypothecate the collateral – in other words: use it for their own purposes – and will have the digital asset platform Anchorage as a custodian of the cryptocurrencies. Figure will originate crypto-backed mortgages of up to $20 million, at a fixed interest rate of 5.99%. “For us to get paid, we need to be at that 5.99% rate. As the market gets comfortable with the product, the rate will look like the prime jumbo,” Cagney said. (The prime jumbo rate is currently at around 5%.)  Cagney said it is realistic to think Figure will reach between $500 million to $1 billion in origination volume in 2022.  Figure will use its own cash to originate up to $100 million. And while Figure has no plans to raise capital for the product, it can tap other sources of funding if needed. Per Crunchbase, the company has raised $1.6 billion in venture capital, including a $200 million Series D round in May with 10T Holdings and Morgan Creek Digital, as well as a $100 million funding facility from JPMorgan Chase in January 2021.  Cagney has talked to investors to assess their appetite for crypto-backed mortgages in the secondary market, mainly insurance companies and banks. “There is a lot of interest in it, because it has a higher coupon than the prime jumbo, but it is new, and so people want to get their arms around it,” he said.  Figure, which was founded in 2018, claims its blockchain-built underwriting system streamlines the origination process, locking the loan in five minutes and funding it over the course of five days – outside appraisal and title.   Cagney, who founded and led student loan lender SoFi, has been outspoken about his goal to test the blockchain platform at scale, which he’ll be able to do once the deal for Homebridge is approved. “Probably the most significant issue was we had this grand thesis that we could save 90 basis points of expense to originate securitized loans on a blockchain,” Cagney told HousingWire in an interview last May. “We had a blockchain architecture that we felt was scalable, secure, and did all the things the financial ecosystem needed to do. And we added a way to onboard and offboard currency out of the blockchain. “What we didn’t have was a bank and originator ready to embrace the blockchain from an asset standpoint. And so nobody wanted to be a first mover to originate a loan on blockchain. And there are a lot of proof of concepts out there where people were doing it in parallel, but the loan still existed off chain and we didn’t think that was really an effective proof of concept.”  Although interest in blockchain is gaining steam in mortgage, it is still very much a nascent technology. A recent Fannie Mae survey found that only 25% of lenders said they were familiar with the technology and its possible applications in the mortgage business. A majority of lenders (68%) said they have not yet looked into the technology. Of the 20% of lenders that have looked into blockchain, 41% said they plan to adopt it within four years. The post Inside Figure’s bold plan for crypto mortgages appeared first on HousingWire. [ad_2] Source link

[ad_1] The post Arrived Homes Review appeared first on Millennial Money. Nearly 43 million homes in the United States are occupied by renters, making rental property investing an evergreen income opportunity. The problem is that, traditionally, rental property management is anything but passive. When you factor in the upfront costs, the potential for ongoing maintenance issues, and time spent dealing with tenants, rental property investing can quickly become a profit-sucking endeavor. But what if there was a way to earn passive income from rentals without all of the hassles?  Arrived Homes lets you do just that. Using the service, you can purchase shares of rental properties and let someone else handle the tricky stuff so you don’t have to. In this post, I’ll explain how Arrived Homes works and how you can get involved with the service. To start, let’s take a closer look at what Arrived has to offer. Overall Rating Pros Low start-up cost No membership fees Easy way to try rental property investing Available to non-accredited investors Cons Suited for long-term investments only You can probably find better ROI in the stock market No mobile app No sign-up bonus What is Arrived Homes? Arrived Homes is an online platform that crowdsources capital to buy rental properties. It was founded in 2019 and has since secured $37 million in funding. The company is headed up by CEO and co-founder Ryan Frazier and is based out of Seattle. Arrived users can buy fractional shares of individual rental homes and earn money over time through rental payments and home appreciation. How Arrived Homes Works The overall goal of Arrived is to serve as an easy entry point for investing in rental properties. After all, not everyone has the resources needed to buy a property outright and rent it out from there. Here’s how it works: When you sign up, you can browse through available properties that are open to new investors. Each one is pre-vetted for income potential, so you can rest assured that you’re not buying into any garbage dumps. When you find a property (or several) that you like, you can determine how much you’d like to invest, and Arrived will reserve those shares on your behalf. At this point, you sign an online contract and link your bank account to make your initial investment. From there, you can take it easy and enjoy a truly passive income stream. Arrived takes care of property management and assumes all liability, so all you have to do is sit back and watch your investment grow. Arrived Homes Features Low Minimum Investment Arguably the best aspect of Arrived Homes is that it gives investors of all income levels the chance to own a piece of a condo, single-family home, vacation rental, or any other type of residential real estate property. To get started, all you need is a minimum investment of $100. Of course, there’s a direct correlation between how much you invest and how much you stand to earn. But with such a low barrier to entry, Arrived makes it easy to get your feet wet and learn the ropes. Cash Dividends Arrived pays out cash dividends to its investors. Based on past performance, this typically translates to returns between 5.21% and 6.42% per year. Investors also earn revenue as the property value appreciates, though these returns are a little tough to predict. To help project the value of your shares of rental properties, Arrived comes with a Property Investment Calculator that uses historical industry data to identify trends. Real Estate Investing Guide Arrived also offers its Real Estate Investing Guide to help you understand how to start investing effectively. The guide covers both the how and the why of real estate investments and sets you up with helpful tips for maximizing your returns. Arrived Homes Pricing and Fees It’s free to sign up for Arrived, and there are no membership or subscription fees for using the platform. While the cost of your investment will be the most expensive aspect of using Arrived, there are some other costs to consider. Here’s the full breakdown of what you can expect to pay if you decide to use the service.  Initial Investment As mentioned above, you’ll need an initial investment of at least $100 which you can transfer over from a linked bank account. Arrived is also working on adding the ability to fund your investment through a self-directed IRA, but this is still in progress. Sourcing Fees Arrived charges a sourcing fee for each property that covers the costs of locating and preparing it for investment. It’s a one-time fee and the amount varies for each property. Either way, you’ll be able to see exactly what those fees are in the Offering Details section of a listing. Annual Asset Management Fees Arrived also comes with an Annual Asset Management (AUM) fee, which helps cover the cost of the ongoing management of the property. Like the sourcing fee, this expense varies depending on the specific property. Again, you’ll know precisely what it is ahead of time, so there won’t be any surprises. Taxes As with any investment, the money that you earn with Arrived is classified as taxable income by the IRS. Arrived will send your relevant tax information at the end of the year, and it’s your responsibility to report it on your return and settle up with Uncle Sam. Early Liquidation Fees Arrived recommends that investors buy in for the long term, from three to seven years. If you need to liquidate your shares early, you have the option to sell them to other investors after the initial six-month holding period. However, if you take this route, you could be on the hook for transaction fees. That’s because Arrived doesn’t handle secondary market transactions. In other words, Arrived is not a platform for flipping quick returns. Keep this in mind as you plan out your strategy. Signing Up and Getting Started To sign up for Arrived, you need to be

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[ad_1] Ever since the Ukraine-Russia rift has started, the entire world is at stake regarding a lot of queries. Inside our nation there’s a huge assembly of people who were concerned about their near ones residing in the affected land. More than 20,000 students were pursuing their respective courses from Ukraine, our Indian Government took the initiative to get them to the motherland safely. However still there were a set of questions that every student along with their parents were interrogating upon. Ashwini Jain, founder and CEO of a study abroad platform ForeignAdmits in an exclusive interview with FinancialExpress.com throws his expertise on some similar questions. ForeignAdmits aims at addressing one of the biggest problems of personalized mentoring for students aiming to pursue study abroad and eventually become an expert in their desired discipline of study. Excerpts: How do you see this war from an expert’s point of view being in the industry of education? Education brings 2 people, groups, and nations togethers. In the world of globalization, this war has created many problems for students, families, and governments. Nobody was anticipating this outcome. This war will create fear along with many questions among  students as well as parents. The best thing is, now students will be making informed decisions and will prefer the best countries rather than cheaper education. What will be the future of students who are back from Ukraine with their ongoing courses? Few are very fresher, few are in the middle of course and some are about to complete. There are mostly 3 ways:a) Students who are closer to completion can shift to a private college in India.b) Students who are in the middle of the courses can transfer to Indian colleges with government approval. However, it will be a burden on parent’s pocket. Also, students have a better option which is shifting to other countries having similar education systems like Poland, Hungary, Turkey, Georgia, Kazakhstan, Uzbekistan, and Kyrgyzstan.c) If they are in 1st or 2nd year, then countries like Philippines are best options as they shorter courses duration How will it impact the study abroad on a larger scale? In the short run, it will create fear among students and parents like COVID-19. But, after some time things will come back to normal. After this war, I am hoping that students will prefer the best countries as compared to countries with cheaper education. Now Parents as well as students don’t feel it is safe to go abroad for study purposes. Do you think this war has created a big void in this domain? Why ? Yes, it has created some concerns on the parents’ side but not on the students’ side. Parents always care about safety and due to these types of events, everyone is concerned. In the wake of this war, do you think parents and students will now be more careful in selecting the country for foreign education? What precautions should they follow? Definitely, yes. They should prefer countries which are best in education and have strong economies. Major events like COVID-19 and Russia-Ukraine war have generated many questions among students. It is not good at all for the future generation. Anything else you want to highlight about this War and Students? I would like students and parents to remain strong in this difficult situation. There are various options through which they can finish their education, so there is no need to panic at this moment. Many countries have come forward to help students which is a good indication. [ad_2] Source link