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Central Bank Isn’t Backing Down—More Rate Hikes Ahead in 2023

Pro Builder

Bond investors expect a top rate of 4.94%, but economists at Goldman Sachs expect the Fed will deliver quarter-point hikes at their next three meetings—holding top interest rates at 5.25%, the highest level since 2007, for the rest of the year. Incoming inflation data, however, could lower—or raise—these forecasts.

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What More Fed Hikes Could Mean for U.S. House Prices in 2023

Pro Builder

Fixed-income markets are implying that rate hikes may continue into June 2023, and according to Forbes , that increased pressure could spell trouble for the housing market. As house prices rise faster than incomes, so houses become less affordable. Read more Affordability Housing Policy + Finance New-Home Sales Affordability

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Home Prices Increase 17.2%—Is the Housing Market in a Bubble?

Pro Builder

Another way to look at this is through the lens of household finances. Debt as a percentage of personal income has dropped to 85.3% The ratio of total required mortgage service payments to total disposable income has plummeted to 3.97 Household balance sheets are in pristine condition. from a peak of 117.1%

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Rapidly Rising Student Debt Keeps Millions from Homeownership

Pro Builder

Student loan payments are holding many Americans back from becoming homeowners by keeping their debt-to-income ratios high. As a result, homeownership rates among 28 to 34 year olds are dwindling, decreasing from 60% in 2007 to 49% in 2020, according to Zillow. Over the course of 13 years, college tuition increased 81.9%. Read More.

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Destiny USA Reaches the Green Bonds Finish Line

Green Building Law Update

Here's a quick summary of the Destiny USA story : In 2007, the developer of a large-scale mall project received $228 million from a federal Green Bonds program in exchange for installing green building and renewable energy technologies. In other words, income received on the bonds will continue to be exempt from federal income taxes.

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WhiteRock Pigments Investing $179M In Kentucky

Business Facilities

Founded in 2007, WRP will be using a propriety eco-friendly process to manufacture chemicals from a variety of feedstocks. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.

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Kentucky: Biotechnology Sector Is Surging In Lexington

Business Facilities

To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $300,000 through the Kentucky Business Investment program. It completed more than 200 development projects that led to clinical trials.