Real Estate & Construction News (9/4/24) – DOJ Sues RealPage; Housing Sales Increase, and U.S. Can’t Build Homes Fast enough

The U.S. Department of Justice has announced that it will sue the real estate company RealPage for engaging in a price-fixing plan to increase rents. Jennifer Ludden, NPR

As the environmental regulations for commercial properties and buildings tighten in the U.S. green leases and technologies provide owners and operators with opportunities to reduce their portfolios’ carbon footprints, generate savings, and align further with ESG goals. (Nish Amarnath)

• Wells-Fargo & Co. has agreed to sell the majority of its commercial mortgage services to Trimont LLC. This gives the Atlanta-based company the title of largest US commercial and multifamily loan servicer. (Hannah Levitt, Scott Carpenter, Yahoo).
• The rise of large homebuilders coincides long-term slowdowns on building permits and construction productivity. This leads to an increase in prices for both buyers and renters. (Carlos Waters Jason Reginato Lindsey Jacobson CNBC)
• The U.S. real estate market may be affected by the Federal Reserve Board’s decision to possibly cut interest rates in September. (J.D. Durkin, CBS).
• Housing affordability can be a challenge, especially with the current high home prices, and mortgage interest rates. Many first-time buyers are making sacrifices in order to become homeowners. Jessica Lautz, National Association of REALTORS
• The housing industry reversed its course in July 2024. Sales increased for the first time since four months. (Jeff Ostrowski, Bankrate)

• Story originally seen here