Amid heavy financial losses, iBuyers bought 70,000 homes in 2021

Offerpad was the lone iBuyer to generate a profit   So-called iBuyers purchased a total of 70,402 homes in 2021, more than doubling the number purchased in 2019, according to a report from Zillow released on Tuesday. The shopping spree, in a historically wild housing market, led to Zillow’s implosion and a lot of red ink on Opendoor’s books.

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HUD slams LA for unspent homeless funds

Audit reveals how federal homeless money is doled out, while L.A. says they are doing better   As Los Angeles’s homeless problem escalated, the very part of L.A. government charged with helping the homeless left millions of federal dollars on the table. That is the finding of a U.S. Housing and Urban Development Inspector General report released last

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U.S. Foreclosure Activity In January 2022 Highest Since Beginning Of COVID-19 Pandemic

IRVINE, Calif. — February 10, 2022 — ATTOM, licensor of the nation’s most comprehensive foreclosure data and parent company to RealtyTrac (www.realtytrac.com), the largest online marketplace for foreclosure and distressed properties, today released its January 2022 U.S. Foreclosure Market Report, which shows there were a total of 23,204 U.S. properties with foreclosure filings — default notices, scheduled auctions

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A Wave of Bankruptcies and Foreclosures Appears to be Building

Economists and professionals in the restructuring sector of business and real estate have been anticipating a distressed economy for the past 18 months. Thus far they have been wrong. The public is just plain confused. Many people today don’t trust their politicians, their news sources and, surprisingly, not even their health care providers and professionals.

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BOOM IN HOME REMODELING MAY PEAK IN 2022

CAMBRIDGE, MA – Spending for home improvements and repairs is expected to expand at a stronger pace in 2022, but signs point to some easing of growth by year end, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The

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