Illinois Gov. J.B. Pritzker said his state had to change legislation to get CARES funding to its local governments. Bloomberg News State and local leaders are appealing directly to federal lawmakers to do more to combat financial woes due to the coronavirus pandemic, including giving direct funds to local governments to be used for lost
Realtor.com monthly traffic hit an all-time high of 86 million unique users in June. Getty It may be the lazy days of summer, but it feels like spring in the housing market — and not a moment too soon — as median home prices are surging. As buyers flooded into the market, realtor.com’s monthly traffic
A scaled down 2021 fiscal year budget signed by Florida Gov. Ron DeSantis will likely need further cuts to withstand potential revenue losses resulting from the ongoing COVID-19 pandemic, according to analysts. DeSantis signed a $92.2 billion budget in late June, in which he vetoed $1 billion of spending from a fiscal plan passed by
Puerto Rico General Fund collections were lagging by 7.5% to 16.8% as of four days before the end of the fiscal year, depending on which measures are used. The figures are derived from a weekly cash-flow report released by the Puerto Rico Department of Treasury and Puerto Rico Fiscal Agency and Financial Advisory Authority on
The state-ordered temporary closure of a North Dakota county’s debt-financed jail for procedural violations — that came to light after the death of a person in custody — poses new threats to the county’s already speculative grade ratings. Rolette County had previously included an appropriation in its budget to cover a $377,000 late-July rental payment
The US has surpassed 3m confirmed coronavirus cases, driven by new outbreaks in states like California, which on Wednesday recorded the largest-ever one-day jump in infections for any state since the pandemic began. There have been 3,035,337 confirmed cases of Covid-19 in the US, according to data from Johns Hopkins University, accounting for just over
Homebuilder Taylor Morrison posted record sales last month and saw the best output come from coronavirus hot-spot states, CEO Sheryl Palmer told CNBC on Wednesday. Home sales for the company nearly doubled in the month of June. “We have seen, if you think about the states that I think have gotten, you know, the most
Sen. Roger Wicker of Mississippi, a Republican who chairs the Senate Commerce, Science, and Transportation Committee, also is an advocate for the restoration of tax-exempt advance refunding of municipal bonds.Bloomberg News Sens. Roger Wicker of Mississippi and Michael Bennet of Colorado announced Wednesday they are introducing bipartisan legislation to restore direct-pay bonds for financing infrastructure.
The student housing industry has been hard at work planning for the fall. Getty With the fall semester approaching, student housing owners and operators are taking unprecedented precautions to ensure students return to a safe and productive environment. Students are likely to find transformed spaces in on-campus housing and new normals as they start or
Shoppers walk past a Bed Bath & Beyond store in Washington, D.C. Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines after the bell: Bed Bath & Beyond — The home goods retailer’s stock fell 11% in extended trading after the company released its first-quarter financial results. Bed Bath & Beyond reported a
New York’s Metropolitan Transportation Authority and the Transit Innovation Partnership have launched a “COVID-19 response challenge” to engage the private tech industry and rapidly evaluate and deploy innovative technologies that make public transit safer in light of the pandemic. “To truly modernize every element of how we run our transit system, you have to look
The COVID-19 pandemic is far from over and it looks like it will continue to plague the country for longer than anyone expected. “There is still a lot to do and it looks as though this will be around much longer than we thought,” said Raphael Bostic, president of the Federal Reserve Bank of Atlanta.
Aerial view of Boldt Casle in the 1000 Islands region of the Saint Lawrence River Hart Hotels Americans emerging from enforced isolation may not yet be ready to get on airplanes, but they are ready to travel and they are certainly ready for a change of scenery. Hence, the summer of 2020 is the summer
Written by Nick Ackerman, co-produced by Stanford Chemist Tekla Healthcare Opportunities Fund (THQ) is a fund focused on the healthcare space. This sector, relatively speaking, has performed very well throughout 2020’s volatility. The tech sector is the other area of the market that has held up remarkably throughout this same period. THQ offers investors an
A pedestrian passes by the New York Stock Exchange, NYSE, in New York on March 17, 2020. (Photo by Michael Nagle/Xinhua via Getty) (Xinhua/Michael Nagle via Getty Images) Xinhua News Agency Companies struggling to get through the coronavirus slashed the amount of money they returned to shareholders through dividends in the second quarter. The net
Municipals finished little changed on Wednesday as more supply came to market as hungry buyers gobbled up the new deals. The market was little chaged on the day after munis saw a slight improvement on Tuesday when yields dipped two basis points on the long end. This is being supported by the extremely strong demand,
Microsoft Corp. (MSFT), one of the world’s largest technology companies, was founded in 1975 by Bill Gates and Paul Allen in a garage in Albuquerque, New Mexico. Five years later, Gates and Allen were hired to provide the operating system for IBM’s first personal computer, followed in 1985 by Microsoft’s launch of its now ubiquitous
Shelby Kerns is the executive director of the National Association of State Budget Officers Many of the 42 states with enacted fiscal 2021 budgets have approved only temporary measures because of the uncertainty caused by the COVID-19 pandemic. They are waiting to see how much federal aid is approved by Congress later this month and
David is the Founder and CEO of Realized, leading the firm’s mission to improve lives through innovative real estate wealth solutions. Getty In the pre-coronavirus world, April 15 was an important date, representing the deadline for U.S. residents and citizens to file federal income taxes. However, in the current environment, that drop-dead deadline has been pushed
Municipal bond issuers are selling debt at a faster pace than they were at this time last year, even though COVID-19 is still hampering state and local governments. At the halfway point of 2020, the top muni issuers have accounted for $`188.58 billion in 5,105 transactions, compared to the $165.18 billion over 4,654 deals in
The new stamp duty holiday could help boost the U.K. housing market Getty Images Stamp duty payments in England and North Ireland have been cut, Rishi Sunak announced today. The U.K. chancellor has increased the threshold at which buyers are required to pay stamp duty from $157,000 to $629,000. The level has been raised to help the
A view of traffic at rush hour on FDR Drive as New York City moves into Phase 2 of re-opening following restrictions imposed to curb the coronavirus pandemic on June 25, 2020. Noam Galai | Getty Images As coronavirus cases surge across the United States, data from navigation app Apple Maps shows a slowdown in
Nikola Motor Company Badger pickup truck Source: Nikola Motor Company Check out the companies making headlines in midday trading. Nikola — Shares of Nikola soared nearly 18% after JPMorgan hiked its rating on the controversial electric vehicle company to overweight from neutral. The bank said the stock looks attractive for long-term investors after a 40% plunge this month
Washington expected to hit the the market Tuesday with a $68 million note sale propelled by the headwinds of affirmed ratings and stable outlooks, but ended up postponing the $54 million tax exempt portion until Thursday at 8:15 a.m., PDT, following a technical glitch. The glitch resulted in some of the bidders being aware of
Founder of Apartment Loan Store a commercial mortgage firm. Author of “The Encyclopedia of Commercial Real Estate Advice,” due out May 2020. Getty In the summer of 2007, many commercial real estate investors found themselves burning the midnight oil, desperately trying to find a property to buy that would give them a decent return on their investment.
Business spending showed some signs of green shoots in June, as manufacturers bought more equipment and spending shifted away from stay-at-home sectors to ones that could rebound in a reopening economy, according to Cortera, a software company which analyzes business-to-business credit transactions. But overall June spending was still depressed, down 10.9% from the same month
The Securities and Exchange Commission’s temporary exemption to allow municipal advisors to arrange certain private placement deals is indeed narrow and conditions included in the order will discourage retail access to the market, regulators say. In a discussion hosted by the SEC Tuesday afternoon, regulators answered questions on how they decided on narrowed conditions for
Rod Khleif Real Estate Investor, Mentor, Coach, Host, Lifetime Cash Flow Through Real Estate Podcast. www.RodKhleif.com Getty When modeling the potential profitability of a multifamily investment, there is a common tendency to focus only on the return generated by a property’s cash flow as measured by metrics such as internal rate of return or cash-on-cash return.
Taylor Morrison Home Corp. signage stands in front of homes under construction at the La Solara Community in Dublin, California. David Paul Morris | Bloomberg | Getty Images Ultra-low mortgage rates, a shortage of existing homes for sale and strong demand for new high-tech houses catapulted homebuilder Taylor Morrison‘s sales into record territory in June.
Kellie Rastegar is Co-Founder and Creative Director at Rastegar Property Group. Getty “Our ability to reach unity in diversity will be the beauty and test of our civilization.” These valuable words were spoken by Gandhi more than a century ago. Though strides have been made, even in 2020 gender and diversity disparity still exist within real