What the Dodd-Frank Rollback Means for Real Estate
On May 22nd, Congress passed reforms to the Dodd-Frank Act, the massive financial reform bill enacted in July of 2010 in the wake of the 2008 US financial crisis.
The current bill could have a big impact on the real estate and mortgage lending. Economists believe the rollback of the Dodd-Frank regulations could lend a hand toward partially solving the industry’s inventory crisis.
“This is a win for the financial industry,” said Chief Economist Nela Richardson, who worked on the bill as an economist for the Commodity Futures Trading Commission. “These are community banks, credit unions, a lot of them are in rural areas. They do a lot of mortgage lending. This will help consumers in that the banks will be able to free up some credit.”
National Association of Realtors Chief Economist Lawrence Yun echoed Richardson, adding that a loosening of Dodd-Frank rules may lead to a rise in regional construction.
“The regulations placed on small-size community banks were terrible because it hindered small-sized homebuilders from obtaining construction loans,” he said. “As the homebuilding industry has become more dominated by large corporations, now we have this relief, which means that, small-time homebuilders will have better access to capital to build homes.”
Economists seem to agree, that the economy is not on track to repeat the financial crisis of 2008, since big banks were at the center of the collapse a decade ago. Richardson explained that the only way to eliminate all risk is to make everything as onerous as possible.
The legislation will also require Fannie Mae and Freddie Mac to consider the use of alternative credit scoring models, which could help borrowers with thin credit files receive a mortgage. But Gardner said he’s concerned, ultimately, we need to remain aware of looser credit restrictions so the country does not repeat the acts of the last financial crisis, where homeowners were given loans they could not pay back.
Palm Springs Modernism Week 2018 – It’s cool, iconic and modern. The February festival is an exciting 11-day celebration of midcentury modern design, architecture, art, fashion, and culture. Events include the Modernism Show & Sale, tours of iconic homes, architectural walking and double-decker bus tours, a world-class lecture & film series, tours of the historic Annenberg Estate at Sunnylands, a Palm Springs Walk of Stars dedication, classic cars, garden tours, a vintage travel trailer exhibition, and much more.
The mission of the Palm Springs Modernism Week 2018 is to celebrate and foster appreciation of midcentury architecture and design, as well as contemporary thinking in these fields, by encouraging education, preservation and sustainable modern living as represented in the greater Palm Springs area
Located in North Palm Springs is one of the city’s best-kept secrets in Little Tuscany set on .57 acre with Stunning Mountain Views. Built in 1939 and remodeled in 2017.
Check out some of the Palm Springs Modernism Week 2018 upcoming events!
Rat Pack Playground – Modernist Homes in Vista Las Palmas
February 15, 2018 | 9:30 am – 11:30 am
Stars and Star-chitects in Deepwell
February 15, 2018 | 9:30 am – 12:00 pm
Preview Party at the 18th Annual Modernism Show & Sale
February 16, 2018 | 6:00 pm – 9:00 pm
The Big Reveal Party at the West Elm House 2018: The Pool House
February 16, 2018 | 8:00 pm – 10:00 pm
Modernism Week Showcase Home – Moroccan Modern
February 17, 2018 | 9:00 am – 1:00 pm
Sagewood: A Donald Wexler tour
February 17, 2018 | 10:00 am – 3:00 pm
Alan Hess Presentation on Frank Lloyd Wright
February 18, 2018 | 9:00 am – 10:00 am
Ask an Interior Designer
February 18, 2018 | 10:00 am – 4:00 pm
Thunderbird North Home Tour – Architects William Cody and Donald Wexler
February 19, 2018 | 9:00 am – 4:00 pm
Wexler Residence – Palm Springs Modern Committee Iconic Home Tour
February 19, 2018 | 10:00 am – 2:00 pm
Boom Town: The Story of Uptown Palm Springs
February 23, 2018 | 9:30 am – 11:30 am
Steel & Glass 2018 Home Tour
February 24, 2018 | 10:00 am – 3:00 pm
Premier Double Decker Architectural Bus Tour
February 25, 2018 | 9:00 am – 3:30 pm
The Palm Springs Modernism Week 2018 is staged and set to amaze, don’t miss this popular event!
The Palm Springs International Film Festival is one of the largest film festivals in North America, welcoming over 135,000 attendees each year for its lineup of new and celebrated international features and documentaries. The Festival is also known for its annual Film Awards Gala, honoring the best achievements of the year in film by a celebrated list of talents. Produced by the Palm Springs International Film Society, the Festival offers 14 days of events and film screenings featuring over 180 films. Venues include Palm Springs and Cathedral City.
PARTIAL LIST OF EVENTS
January 2, The Palm Springs International Film Festival rolls out the Red Carpet to welcome Hollywood’s hottest industry players and A-list celebrities for the Awards Gala at the Palm Springs Convention Center. The Awards Gala is the Film Festivals showpiece event that kicks off the Festival each year with a dazzling celebration of old-school Hollywood star power, glamour, and talent. Grab a ticket for the event, or star gaze as top celebrities walk the red carpet.
January 4, The Post at Palm Springs High School. Steven Spielberg’s rousing, knuckle-biting account of the publication of the Pentagon Papers, Meryl Streep stars as Washington Post publisher Katherine Graham and Tom Hanks as editor Ben Bradlee, as they take on the might of Nixon’s White House.
DINNER AND A MOVIE
January 8, catch Constructing Albert, a behind-the-scenes glimpse of the life and ambition of a restaurateur, following Chef Albert Adrià as he puts his past with famed restaurant elBulli behind him and embarks on a new culinary adventure. Then join us at Bontá in Cathedral City, where Chef Hector Salvatierra of Bonta’ serves up an eclectic mix of Mediterranean, European and Argentinian dishes.
Film Screening begins at 4:00 pm at the Mary Pickford Theater followed by dinner.
Bontá is located in the same complex as theater
January 10, The Cakemaker, a story of a gifted pastry chef and the aftermath of his passionate, closeted affair with a married man. The chic and swanky Eight4Nine Restaurant and Lounge, the Uptown Design District’s Hot Spot is the featured Dinner and a Movie restaurant. This year they matchup with
Wednesday’s screening will be followed by dinner at Palm Springs’ chic and swanky Eight4Nine Restaurant and Lounge, the Uptown Design District’s hot spot. Eight4Nine’s very own pastry chef Albert Gonzalez has created an eclectic and colorful menu
Film Screening begins at 4:30 pm @ Camelot followed by dinner.
Eight4Nine is a short drive from the theater
January 14, The Last Movie Star at Palm Springs High School.
An invitation from a film festival affords an elderly movie star a trip down memory lane that stirs his long-dormant heart. An octogenarian Burt Reynolds shares scenes with his ’70s-era self and delivers a resonant performance in this poignant, often funny drama.
After attending the Palm Springs International Film Festival, check out this Little Tuscany Hacienda located in the heart of the Action in Palm Springs. Enter the gates into your own PRIVATE COMPOUND set on over 1/2 acre with Dramatic MOUNTAIN VIEWS that you can almost reach out and touch.
This exceptional property features over 2,200 SF, 4 bedrooms, 3 baths & has recently had an EXTENSIVE RENOVATION including all new Kitchen and Baths. Enjoy the Old World Charm of Palm Springs with state of the art conveniences including new ENERGY EFFICIENT windows & doors, CHEF’S KITCHEN with a full suite of VIKING stainless appliances, QUARTZ counters & Custom Cabinets with lighting. Each bath has been remodeled with stone showers, frame-less glass, QUARTZ, Custom Cabinets.
You’ve got lots of flexibility here; the property is zoned multi-family & can be used as one LARGE HOME with GUEST HOUSE, or locked off as TWO SEPARATE UNITS so you can live in 1 and rent the 2nd out for extra income. You can also build an additional home for more income potential. What a GREAT LOCATION, minutes from the Village in Palm Springs.