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The Real Estate News Brief: $2.9T Rescue Plan, iBuyer Rebound, Zillow Hiring Spree
Description
In this Real Estate News Brief for the week ending March 13th, 2021… a $1.9 Trillion economic rescue, iBuyer 2021 rebound, and a Zillow hiring spree.
We begin with economic news from this past week, and the approval of a $1.9 Trillion COVID-19 relief package. The National Association of Realtors is applauding the high-dollar stimulus plan because there are several provisions that will help the housing market, including another $21.55 billion in rental assistance. Landlords who are owed back rent will benefit from those funds, and the previous $25 billion approved in December. $1,400 stimulus checks for individuals will also help the back rent situation. There's also money to help homeowners struggling to pay mortgages, as well as small businesses, schools, and local governments that are low on cash.
Links: 1 - https://magazine.realtor/daily-news/2021/03/11/biden-signs-covid-19-rescue-package-into-law 2 - https://www.marketwatch.com/story/consumers-pay-higher-prices-in-february-cpi-shows-as-inflation-creeps-up-11615384314?cx_testId=22&cx_testVariant=cx_1&cx_artPos=2&mod=home-page-cx#cxrecs_s 3 - https://www.marketwatch.com/story/jobless-claims-fall-sharply-to-lowest-level-since-november-11615470023?mod=economic-report 4 - https://www.marketwatch.com/story/job-openings-rise-in-january-as-labor-market-strengthens-11615476422?mod=mw_latestnews 5 - https://www.marketwatch.com/story/u-s-march-consumer-sentiment-hits-post-pandemic-high-11615561947 6 - http://www.freddiemac.com/pmms/ 7 - https://realestateinvestingtoday.com/nmhc-says-80-4-of-apartment-households-paid-rent-by-march-6th/ 8 - https://magazine.realtor/daily-news/2021/03/11/ibuyer-financial-losses-mount 9 - https://investors.zillowgroup.com/investors/news-and-events/news/news-details/2021/Zillow-Announces-Plans-to-Hire-More-Than-2000-Employees-Nationwide-in-2021/default.aspx