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Search resuls for: "Danushka"


7 mentions found


☆ It will take more than just a drop in interest rates to save the housing market
  + stars: | 2024-09-23 | by ( Samantha Delouya | ) edition.cnn.com   time to read: +6 min
But while lower mortgage rates may translate to more buying power for homebuyers, America’s housing market woes aren’t likely to be solved solely by rate cuts. But Enterprise Community Partners, the nonprofit where Donovan currently serves as CEO, estimates that the US needs 7 million new units in order to stabilize the housing market. “There are a lot of factors that have affected the housing supply and these are complicated issues to solve. “We’re not expecting mortgage rates to fall that much further, and we still think that the mortgage rate ‘lock-in’ effect will still be there,” Dougherty said. “Things will probably pick up as rates come down, but we’re not looking for a high-octane rebound,” Dougherty said of the housing market.
Persons: they’d, aren’t, ’, ”, Shaun Donovan, Kamala Harris, Donald Trump, ” Donovan, Harris, Trump, Donovan, Jerome Powell’s, Freddie Mac, Charles Dougherty, That’s, “ We’re, ” Dougherty, ” Powell, that’s, Dougherty, “ It’s, ” Ryan McLennan Organizations: CNN, Housing, Urban Development, National Association of Realtors, Partners, Federal, Fed, National Association of Home Builders, homebuilders, Consumer Financial Locations: America, Wells Fargo, Houston, homebuying
☆ Rate cuts might make it cheaper to buy a house, but they won't fix the US housing market's biggest problem
  + stars: | 2024-09-21 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +5 min
The Fed's interest rate cut will ease financing conditions for homebuilders, analysts told BI. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe Federal Reserve's rate cut will surely impact the housing market, but its effect likely won't affect arguably the most important part of the equation: keeping affordability tight. But how this translates into a much-needed supply boost is a different story, and there are factors the Fed cut won't fix. Lingering uncertaintiesAdvertisementFor instance, Nanayakkara-Skillington noted that material pricing, from drywall to steel mill products, has weighed heavily on homebuilders since the pandemic.
Persons: —, it'll, NAHB's, Skillington, NAHB, Michael Neal, Fitch, Neal Organizations: Service, National Association of Home Builders, Urban Institute senior, Fitch
☆ The housing market is heating back up. But only a small percentage of new homes are fully-built.
  + stars: | 2024-01-25 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +2 min
Read previewNew-home sales rebounded in December, rising 8% as homebuyers rushed to take advantage of falling mortgage rates, US Census Bureau data shows. But while consumers appear eager to re-engage with the housing market, new purchases don't mean an immediate move-in for some. This decline from 8% peak levels in October was spurred by bets that the Federal Reserve would start cutting interest rates. Of that, new homes took on a bigger share of the inventory, as high mortgage rates kept homeowners from selling. Still, NAHB's CEO Jim Tobin separately expects construction and demand to take off in 2024, once consumers realize ultra-low mortgage rates aren't coming back.
Persons: —, homebuyers, Skillington, Jim Tobin Organizations: Service, Business, Federal Reserve, National Association of Homebuilders
☆ Prefabricated home shipments on the rise in a pricey property market
  + stars: | 2023-11-07 | by ( Amina Niasse | ) www.reuters.com   time to read: +4 min
That appears to be boosting demand in the prefabricated housing market, a sector that has lost market share in the past decade. "There's going to be continued interest in prefabricated homes because it's a window to building." As of May, the most recent month for which data is available, the average price of a prefabricated home was $129,900, according to Census data. Most modular construction factories are concentrated in the Mid-Atlantic and Southeast, where modular market share outpaces the national average of 2%, said Devin Perry, executive director of business improvement programs at the NAHB. "This is providing opportunities for modular to grab more market share."
Persons: Brian Abramson, Abramson, Danushka Nanayakkara, Devin Perry, Perry, Amina Niasse, Dan Burns, Andrea Ricci Organizations: Census, Reuters, Homes, Mortgage, Association, National Association of Homebuilders, Thomson
☆ Construction on new homes snaps uptrend, hitting key source of new supply
  + stars: | 2023-07-19 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +2 min
Construction on new single-family homes fell 7% to a seasonally adjusted annual rate of 935,000 units. Multifamily housing starts fell 11.6% to 482,000 units, the lowest since December. Meanwhile, multifamily housing starts dropped to 11.6% to 482,000 units, hitting the lowest rate since December. In fact, new construction made up almost a third of active listings in May, while pending sales of existing homes fell 2.7% month to month. But a drop in US bond yields should offer some relief for mortgage rates and the housing market.
Persons: Danushka Organizations: Service, National Association of Home Builders Locations: Wall, Silicon, Federal
☆ Danushka Gunathilaka: Woman says she feared for her life during alleged rape by World Cup cricketer
  + stars: | 2022-11-10 | by ( Angus Watson | ) edition.cnn.com   time to read: +2 min
Sydney, Australia CNN —A woman allegedly raped by a Sri Lankan World Cup cricketer in Sydney, Australia last week told police she feared for her life during the attack, according to court documents reported by CNN affiliate 7 News. Danushka Gunathilaka faces four charges of sexual intercourse without consent after being arrested by police in Sydney on November 5 – shortly after his team played their final T20 Cricket World Cup match. Gunathilaka maintains his innocence of all charges and intends to vigorously defend the matter in court, his lawyer told CNN Thursday. Police reports released by a court in Sydney on Wednesday and reported by CNN affiliate, 7 News, detail the police allegations against Gunathilaka. The law stipulates that sexual consent to one act does not guarantee consent to other acts.
☆ Sri Lanka suspend Gunathilaka after arrest over alleged sexual assault
  + stars: | 2022-11-07 | by ( ) www.reuters.com   time to read: +1 min
COLOMBO, Nov 7 (Reuters) - Sri Lanka Cricket (SLC) said on Monday it has suspended Danushka Gunathilaka from all forms of cricket following his arrest in Sydney over an alleged sexual assault and will not consider him for any selections. The 31-year-old was charged with sexual assault while in Australia to play in the T20 World Cup and was denied bail by a court in Sydney on Monday. "The Executive Committee of Sri Lanka Cricket decided to suspend national player Danushka Gunathilaka from all forms of cricket with immediate effect and will not consider him for any selections..." the SLC said in a statement. Gunathilaka played a first round World Cup match against Namibia but was ruled out of the remainder of the T20 tournament with a hamstring injury. The Sri Lankan team were eliminated in the group stage of the World Cup, losing to England on Saturday in their final match of the tournament.
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