March 3, 2017
Friday’s Government Reports Roundup
- Ben Carson officially holds the title of the 17th secretary of the Department of Housing and Urban Development, immediately starting his reign at the helm of the housing agency. His first day comes a little more than a month after President Donald Trump was sworn into office, and the industry is ready to make up for lost time.
- The Government Accountability Office (GAO) has released a new report that examines the characteristics and roles of syndicators in the Low Income Housing Tax Credit (Housing Credit) market. Syndicators award tax credits to investors of Housing Credit developments, acting as an intermediary between the developer and investor. According to the GAO report, the 32 surveyed syndicators have raised more than $100 billion in Housing Credit equity since 1986, helping to finance more than 20,000 properties and about 1.4 million units placed in service through 2014.
- Last Friday, purchases of new U.S. homes in January were slower than forecast, signaling an increase in mortgage rates may be giving some potential buyers pause. Sales climbed 3.7 percent to a 555,000 annualized pace, Commerce Department data showed Friday.
