This week wrapped up with new insights into homeownership and some industry buzz about possible changes in store for TRID. Stay up to date with the latest in real estate with our weekly news roundup:
- Home sales may be rising, but homeownership in the United States is near its lowest point in history, falling to just 63.6 percent in the first quarter of this year. Diana Olick of CNBC examines how homeownership trends amongst Millennials and older Americans play a role in the decreasing rate here.
- Eight industry trade groups received a letter form the Consumer Financial Protection Bureau that acknowledged concerns over compliance with the Know Before You Owe mortgage disclosure forms. The Bureau is now drafting a Notice of Proposed Rulemaking on the Know Before You Owe rule. Learn more about the possible changes coming to TRID here.
- In the midst of the Zillow/Move Inc. lawsuit, Zillow welcomed Dan Spaulding to the company in the new position of Vice President of People and Culture. Previously the Vice President, U.S. Stores and Retail Operations HR at Starbucks, you can read more about Spaulding and what he brings to Zillow here.
- In a recent study, Gallup found that Americans who rent are nearly twice as likely to worry about not being able to pay their housing costs than actual homeowners. The study also revealed that the gap in owner-renter worry grew for the middle- and upper-income. Access Gallup’s full report here.