Danielle and Hayden Cox, the couple behind Surfboard and Lifestyle company Haydenshapes, with their children, from left, Alaia, Aries and Astyn at home in Palm Beach, Sydney. Photo: Anson Smart
Innovative surfboard designer, entrepreneur and founder of Haydenshapes Surfboards, Hayden Cox, is selling his masterpiece Palm Beach home for $16m.
Five years ago the former Australian entrepreneur of the year and award-winning designer sold another Palmie home, in Barrenjoey Rd for $3.36m, and he and his wife Danielle upgraded to Pacific Rd.
They chose a north-facing house in the coveted pocket and spent three and a half years extending it and bringing all their creative energy into crafting a tri-level home where every room sees the ocean.
The couple spent three and a half years extending the home.
Every room sees the ocean.
Hayden Cox with two of his kids at Palm Beach. Photo: Anson Smart
The home has six bedrooms, five bathrooms, garaging for three cars and includes a two-bedroom guest house, internal lift and wellness floor with infrared sauna and cold plunge bath.
There is also a heated wet-edge pool, media room, home theatre and gym.
Pacific Rd is known for being in a microclimate pocket protected from the wind but its lofty position yields unobstructed ocean views and the family told Vogue Living recently they occasionally see pods of dolphins or whales drifting by.
Wake up to this!
They designed much of the home themselves.
The expressions of interest campaign closes on October 7.
Hayden and Danielle designed and made much of the home themselves utilising their love of sustainable material. Hayden invented FutureFlex, the parabolic carbon fibre frame surfboard technology that is sold worldwide.
Famously Hayden got into the manufacturing industry as a schoolboy. He broke his favourite surfboard aged 15, couldn’t afford to buy a new one so learnt to make one instead. By the age of 16 he was selling surfboards to his teachers at school. His first factory opened on the northern beaches when he was 20.
Peter Robinson, of LJ Hooker Palm Beach, is marketing 28 Pacific Rd, Palm Beach, known as Alaia, describing it as a fusion of contemporary beach elegance and sustainable design and one of Sydney’s most exceptional luxury lifestyle escapes.
Alaia is on more than 900sqm of land and has an expressions of interest campaign closing October 7.
Aussies are growing increasingly nervous over the country’s failure to build enough housing.
Under the National Housing Accord, governments have been set the target of building 1.2 million homes by 2029, but recent YouGov polling found nearly 80 per cent of Aussies are “concerned” the country will fall short of this number.
But instead of scrapping the push and implementing a new, lower target, Aussies are expecting the Federal Government to deliver on their promise rather than abandon it.
“Australians want action. They want governments to set ambitious targets and they want governments to follow through with bold and meaningful reforms to help the nation reach these housing targets,” said Amplify CEO Georgina Harrisson.
“Sugar hit policies and short-term fixes aren’t going to get the nation building. Governments need to move at pace to solve this very real crisis.”
The fears come after a recent freeze on the National Construction Code, environmental changes and AI impacts that are set to be addressed.
Despite fears, Australians still want the government to deliver on their promise rather than underdeliver.
But any productive changes will mean little if the housing targets aren’t met.
“Australians can’t wait years for consistency and clarity in housing rules,” Mr Harrison said.
“To unlock the opportunities that are presented through modern construction, to build more homes sooner, we need to modernise the regulations and we can’t afford to wait unnecessarily.”
Housing Minister Clare O’Neil defended the 1.2 million target and called for “gritty, difficult, technical work – across portfolios, governments and industry – to turn this crisis around”.
It comes as the ABS this week revealed building approvals fell by 8.2 per cent in July 2025, a “reminder of how fragile the recovery in home building remains”.
Economist Shane Garrett said progress on homes had been too slow. Picture; Justin Sullivan/Getty Images/AFP.
Despite approvals still marginally higher than they were a year ago, Master Builders chief economist Shane Garrett admitted progress has been too slow.
Construction activity has been unable to meet the appetite for new housing and targets set by National Housing Accord, he said.
About 189,000 new dwellings were built in the year to July 2025, which was well under annual target.
“We’re likely to have suffered a 60,000-home shortfall during the Housing Accord’s first year so we need to average 255,000 homes annually over the remaining four years of the Accord,” he said.
“The pace of building approvals over the last 12 months is more than 66,000 below this speed requirement.
“If it stays like this, we’re in for a 265,000 deficit against the Accord’s 1.2 million target.”
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Sydney’s median house price may increase to circa $3.5 million – up from $1.5 million – by 2045, new research shows.
The study was based on analysis of historical trends and the typical rate at which prices grew over a 20-year period.
Sydney is currently the most expensive capital in the country by some measure – it’s about 50 per cent pricier than the next most expensive capital, Brisbane, with a median of $1.02 million, the Propertyology research noted.
Propertyology head of research Simon Pressley said the study examined historical trends to understand why there had always been such a large gap between the price of Sydney housing and other capitals – and how this could continue to evolve over the coming years.
Mr Pressley said in each block of 20 years, wherever the location in Australia, a typical home across Australia has grown somewhere between 3.5 times and six times its value.
“No one has a crystal ball – but drawing upon what property values have done over the last 100 years you can see over a period of time that property prices generally grow by x and y,” he said.
“The smallest rate of growth over the last four blocks of 20 years has been a bit over three times the value.”
The report examines history, stating subsequent to the First Fleet docking in Botany Bay in 1788, Sydney had a 40- to 60-year urban development headstart on every other Australian city.
Source: Propertyology
Infrastructure, essential amenities, a commerce centre and two-full generations of house price growth had evolved in Sydney by the time other cities such as Launceston (1804), Brisbane (1825), Perth (1829), Melbourne (1835), Adelaide (1836), Bendigo (1851) and Townsville (1865) were founded.
Mr Pressley states in the report that a rollercoaster of major events then impacted prices, including gold rushes, the 1890s bank collapse and world wars.
“The whole world changed after WWII,” he said. “The Federal Government at the time came up with the term, ‘populate or perish’. The whole country acknowledged we had to expand our population in a massive way.”
Despite this, Mr Pressley said population size and population growth rate has very little to do with property price growth.
The report stated from the end of World War II onwards, large portions of Australia’s financial capital were directed toward Sydney and this concerted effort to develop Sydney into a globally respected economic nerve centre played a significant role in Sydney house prices consistently leading the nation.
‘High Cost of Houses’ in a 1924 Newspaper. Source: Propertyology.
“It’s about revenue within a town’s economy that has the biggest influence on property prices.
“Directly after WWII a lot of our revenue went into Sydney and to a lesser extent Melbourne.”
The report also reveals regardless of the generation, construction costs, property taxes, housing supply constraints, the rental market and housing affordability have always been central to national debate.
Such as dating back to 1924, when Australians were ‘bemoaning’ housing affordability in the paper, when the price of a typical house was circa $2,000.
“I’m absolutely certain it will be one of the most debated topics in every generation,” Mr Pressley said.
“We can look at the current generation and the one before that, the one before that, it’s always been debated and I can understand why, we all want a home.”
According to Mr Pressley, this is also due to a myriad of differences between generations.
“It’s not just the price of a typical home today and how different it is to previous generations,” he said.
“It’s all relative to how difficult or otherwise it is to buy a home.
“So yes, the price of a home in Sydney today compared to 20 years ago and 40 years ago was different but so was the unemployment rate and the availability of credit and in past generations you had to have a 30 per cent deposit.”
Aerial view of North Bondi overlooking Bondi Golf & Diggers Club and Bondi Beach. Destination NSW
According to Mr Pressley, lifestyle also takes priority over price.
“Humans predominantly now and always prefer houses over anything else,” he said.
Mr Pressley said although most people are renting, when it comes to buy a home, very few buy an apartment.
“When that same tenant reaches that stage of life and they want to buy a home and can afford to buy a home, very few put their hard earned money into an apartment,” he said.
Source: Propertyology
“There are large parts of Sydney where someone who may have been renting say last year in an apartment, within 10km from the CBD – they can or could have purchased an apartment for seven, eight, nine hundred thousand and yet they chose to not buy that property and pack up all their belongings into a truck and in some cases move interstate and pay more for a house in a completely different neighbourhood.”
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An adorable dining nook sits in the kitchen space. Picture: Supplied
The kitchen is in one of the turrets. Picture: Supplied
The current owner began building the castle in the 1980s and lovingly worked on it over the years.
“He was from Germany and did an apprenticeship as an architect and carpenter there,” Mr Bartle said.
“He built this to reflect the architecture of where he grew up in Germany and it was the second house he built on Tamborine Mountain.
“It has been a labour of love and hopefully it’s going to be someone else’s labour of love.”
Mr Bartle said the owner also worked on construction sites around the Gold Coast and New Zealand.
“He was actually the foremen on the construction of the Southport Fire Station,” he said.
Timber and stonework feature throughout the home. Picture: Supplied
There is a bar for enjoying a hearty ale. Picture: Supplied
The two-bedroom home has most of the hallmarks of a fairytale castle, including spires, stonework, timber detailing, leadlight windows, courtyard fountain and a stone gatehouse with wrought iron gates.
There is even a cute-as-a-button dining nook that looks like something straight out of Snow White, complete with whimsical timber cut outs, panelling, borders and bench seating.
The curved kitchen has timber cabinetry and character windows and there is a main bedroom with ensuite tucked away in its own turret.
The home sits privately on a 1139 sqm block adjoining the Tamborine Mountain Botanical Gardens.
Mr Bartle said while the castle had been around for decades, it wasn’t that well known locally.
“A lot of people would have been intrigued to what it was, as from the road there is just a little stone entryway,” he said.
“Anyone who bothered to look up the driveway would have been intrigued by the stone facade and spires.”
The courtyard wouldn’t look out of place in Beauty and the Beast. Picture: Supplied
The home even has its own gatehouse. Picture: Supplied
Mr Bartle said the property hit the market on Wednesday and the response so far had been overwhelming.
“The enquiry has been huge,” he said.
“The interest has been predominantly local, but there has been some from interstate and even overseas.
“We’ve even had a lady from Poland look at it.
“We’re getting interest from first homebuyers, renovators and people wanting to Airbnb it.”
The property at 17 Forsythia Drive, Tamborine Mountain, is for sale via expressions of interest and will be open for inspection on Saturday, September 6 from 10am.
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Australia’s property market is gearing up for a dramatic price surge, with the cost of homes tipped to rise by as much as $154,000 in some cities over the next two years.
From Sydney’s soaring price tags to Perth’s percentage growth boom, the nation’s housing market is entering a new era of competition – and the stakes have never been higher.
Fresh forecasts from Westpac and analysis by Canstar reveal that no matter where you live, the cost of buying a home is set to climb.
For homeowners, it’s a windfall that could see their equity skyrocket.
But for buyers, the challenge of saving for a deposit and securing a loan is about to get even tougher.
Sydney is expected to lead the charge in dollar terms, with its median house price forecast to jump by $154,000 by the end of 2026, reaching a staggering $1,675,827.
Melbourne, meanwhile, is on track to break the million-dollar barrier, with a predicted rise of over $100,000 pushing its median house price to $1,059,810 by the end of next year.
The national picture: Which cities will shine?
While Sydney and Melbourne dominate in sheer dollar growth, other cities are set to steal the spotlight in percentage terms.
Perth is forecast to see an 8 per cent rise in dwelling prices this year, while Brisbane is expected to post a 7.4 per cent gain by the end of 2025, according to ANZ.
By 2026, Melbourne is shaping up as the comeback city, with Westpac predicting double-digit growth.
Source: Canstar.com.au. Westpac property price forecasts, Cotality Home Value Index, 31 December 2024 and 31 August 2025. Assumes house prices rise in line with dwelling forecasts.
Sally Tindall, Canstar’s data insights director, says the rising prices will have mixed consequences.
“For those already in the market, it’s great news for their equity. But for buyers, the deposit hurdle is getting higher, and clearing banks’ serviceability tests will remain a challenge,” she explains.
“Melbourne’s median house price is tipped to crack the million-dollar mark. For many first home buyers, that psychological barrier will feel like the goalposts keep moving further away.
“This year, Brisbane and Perth are expected to finish as the standouts, while Melbourne is shaping up as the comeback city in 2026, with double-digit growth on the cards, according to Westpac.
“Even with interest rates heading south, there’s no relief for house hunters if prices keep climbing at this pace. The extra borrowing power from lower rates risks being swallowed whole by rising price tags.”
The risks of a borrowing boom
With interest rates trending downward, buyers may feel emboldened to borrow more.
But experts warn this could leave households dangerously exposed. “The danger is Australians will borrow to the limit, banking on prices continuing to climb,” Tindall explains. “If circumstances change – whether it’s interest rates, job security, or the economy – it could leave some households in financial distress.
Source: Westpac dwelling price forecasts released 3 September 2025, ANZ housing price growth forecasts released 11 August 2025.
“The more households borrow, the more vulnerable they become to rate rises or shocks to employment.”
As the spring home-buying season heats up, the property market is at a crossroads.
Will buyers take the plunge, or will affordability concerns keep them on the sidelines?
One thing is certain: the next two years will reshape Australia’s housing market, and every city has a role to play in the unfolding story.
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From landlords gardening only in an adult nappy to raiding tenants fridges and enlisting spies in the street, Aussie tenants have dished the dirt on their landlords from hell.
One even had a vegan landlord who complained when their tenant cooked a steak.
“Landlords from hell aren’t uncommon in Australia,” Money.com.au’s finance expertt Fi Ahlstrom said.
“But remember, just because you’re renting doesn’t mean you surrender your rights.
“You don’t have to put up with a landlord who barges in, cuts corners, ignores repairs or hikes up your rent unfairly.
“Every state has a government or rental authority where you can lodge a formal complaint.” Ahlstron said the best way to protect yourself was to keep everything in writing, including emails, texts and photos or videos of the property, so if you need to lodge a formal complaint with your state’s government or rental authority, you’ve got the time-stamped evidence.
“If there’s ever a time when you feel unsafe or your landlord’s behaviour crosses a line, don’t hesitate to escalate it with the authorities,” Ahlstrom said.
With the help of money.com.au, and after scouring social media, here are some of the most out-there experiences tenants have faced in rental roulette.
And it is not always about mould and maintenance.
High steaks
Megan, 35, revealed that her landlord would complain about everything from the smell of cooking steak to the glare from her TV.
“I rented an apartment in Brisbane for about three years,” she said.
“My landlord at the time was a vegan and hated that we cooked meat on our balcony BBQ. “He sent me multiple written warnings about the smell of steak drifting into his unit, which he called ‘repulsive’.
“Then he started complaining about the glare from my TV, saying my lights being on after 8pm disturbed the neighbours’ peace.
“It felt like living under a curfew.”
Megan said that the landlord found something new to complain about every few months.
“The final straw was when he demanded my elderly mum not park in the visitor car park when she came to visit me,” she said.
“He told me visitor spots were only for ‘non-family guests’ and that she should park on the street instead.”
When you landlord is a vegan, meat is murder
Vanishing food
Glenn, 43, was living in a share house in Brisbane with three mates when they started to notice that food was going missing from their fridge.
“Then stuff like detergent, toothpaste and toilet paper kept disappearing too,” he said.
“We all started blaming each other and even chucking in extra cash to cover what went missing.
“One day, I came home sick from work in the middle of the day and walked in to find the landlord doing his laundry in our machine.
“He’d just let himself in with the spare key and made himself at home.
“That’s when it clicked he’d been coming in all along, nicking our gear, raiding the fridge and who knows what else.
“Can’t remember exactly what went down after that, but we told him to get stuffed, and broke the lease.”
Not a real depiction of the landlord
Can’t unsee it
A tenant, who wanted to remain anonymous, shared the jawdropping time she spotted her landlord gardening.
“I saw my landlord walking around the property gardening in just an adult nappy,” they said.
“She drove over to the property and took her pants off to do the gardening.
“It was the weirdest, most traumatic thing I’ve ever seen.”
The only photo of nappies we could find
Dog gone rogue
Another tenant who had moved to a three-bedroom duplex on the Gold Coast, was left to look after their landlord’s dog.
“The landlords (a couple) decided they wanted to go away for a whole year, but they had a little dog,” the tenant said.
“They asked us to look after the dog, and I told them I wasn’t comfortable because it was way too long and too much of a responsibility.
“They ignored my response and left their dog anyway.
“They bought an automatic feeder and said it would be fine, plus their friend would come around and pick up the poo.”
But not long after the landlords left, the pooch never stopped barking constantly and at anything that went by.
“If we put the dog outside to go to the toilet, they would check the CCTV cameras and message us telling us to let the dog back inside because it wasn’t an outside dog,” the tenant said.
“They also had CCTV cameras pointing outside their room, watching you as you walked around the house.”
But it got worse.
“One night the dog got into the rubbish bin, tore everything out, ate something that upset its stomach and exploded diarrhoea all over the house,” they said.
“We woke up to the worst smell ever, absolutely disgusting sh** everywhere, and one of the housemates had already left for work, stepped over it, and ignored it for us.
“I messaged saying it wasn’t good enough to have to deal with this in our own house, and she got mad, saying I had no compassion for the dog that was obviously unwell.
“Anyway, we decided we weren’t going to clean it up to make a stand against our discomfort for the hundredth time.
“When the housemate came back, she thought it would be a good idea to put all the dirty, soiled paper towels and wipes in the backyard under the outdoor table where we sat and where it stayed for a week.
“The dog would piss on the couch constantly, sh** inside every second day, and bark non-stop every minute of every day.”
The tenant also revealed that “the landlords controlled our every move”.
“We weren’t allowed to use the dishwasher because it ‘used too much water’, we weren’t allowed to use the washing machine on hot wash because it drew too much power, we had to bring the outdoor couch cushions in every night in case of rain, and if we forgot they would check the cameras and tell us to bring them in,” the tenant said.
“They would call us if the dog was outside or if the blinds were shut. They were honestly so crazy.
“When we left, they asked us to mow the lawn. We did, but he got mad at us because we didn’t whipper-snip before mowing.”
The tenant said that while they felt sorry for the little dog, it was the “worst thing in the world being so controlled in your own house”.
“They even listened to our conversations through their cameras so we had to whisper when we were outside,” they said.
“ It was just so crazy. I can’t believe it was real. We have so many bad memories from that house and those people.”
Come on in
A tenant who was renting on the Gold Coast revealed that her landlords just randomly let themselves in.
“I was eight months pregnant and it was the middle of the day and I was having a nap while my toddler slept. I was wearing just undies,” she said.
“I woke up thinking my toddler had come into the room. Nope.
“The landlord and his wife were in my bedroom measuring the windows ‘in case they saw cheap curtains they liked’.”
She said they then remarked: “Oh, sorry, tried not to wake you.”
“I asked them to leave and rang the property manager and her response was, ‘well, they were doing something nice for you, so why do you complain?” she said.
“I changed the lock after that, only to be abused for ‘breaking a rule’ by doing so.
“To this day, who knows how many times they had just let themselves in when I wasn’t home.”
Street warlord
A NSW tenant revealed that while the property was “okay”, it was prone to mould.
But the “landlord is horrendous”.
“And the neighbour at 10 is her little spy and the unelected street warlord,” they wrote on shitrentals.com.
“Given notice to vacate with no grounds after three years because she didn’t like that we had pruned the overgrown garden.
“Didn’t like that we requested maintenance.
“She shows up to inspections with the agency itself and insisted we had changed things in the house which the agent corrected her that we hadn’t done.
“She drives by the property a lot to ‘inspect’, speaks rudely to agents and tenants like dirt.”
Landlord living in garage
Another NSW tenant who rented in Bexley revealed that on the day they moved in, they noticed the garage was locked and there no keys to open the door.
“Garage was not excluded in the lease… day two, find out landlady is living in garage with her pets – says it is only for a month or two,” they said.
“Fast forward a year, still living in there, using our utilities (water, electricity maybe gas too not sure) and they were running a heater, fridge and had a bed in there.
“They even installed Foxtel in the garage and refused to fix airconditioning.”
Street spies
A Victorian tenant said their landlord was the “worst landlord ever”.
“Landlord was an absolute nightmare, so rude, not fixing anything in the house, when he did it was dodgy repairs,” they said.
“He would show up unannounced, ask neighbours who has been to the house and to keep tabs on me.
“Inspections would take 90 minutes and he would pick on every single detail and speck of dust, also letting tradesmen through the house without permission.
“Bullies REA (real estate agent) into getting his way. Absolute worst landlord ever!”
The street has eyes (Photo by Jalaa MAREY / AFP)
Batsh*t crazy
A tenant in South Australia said their “landlord was completely batsh*t crazy”.
“Overly paranoid about every single aspect of living (even had a padlock on the linen cupboard in case anyone broke in and stole his bedsheets),” they wrote.
“Long history of domestic disputes reported to the police, even made death threats over an apparent stolen frying pan.”
A tenant in the ACT complained that their rental house was “mouldy, mouse infested and uninsulated”.
“It was as expensive as some rooms in the inner suburbs, yet has no shops within walking distance and atrocious public transport access leading to 90 minute commutes,” they wrote. “The landlords refused to move out their furniture and would, often without warning, stay over.
“By the end of my time, I was poor, sick, cold and mentally defeated.”
Drunk and disorderly
A tenant who rented in Nimbin, NSW, revealed the owner showed up, with permission, drunk.
“And after seeing that I had removed the last 30 years of rubbish from the yard said “good job” and promptly went back to the real estate to raise the rent by $20,” they said.
“The new tenants tell me that they still have no bins and despite replacing the carpets and a little bit of the bathroom the place is still rotting.”
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Kimber White, the incoming president for the National Association of Mortgage Brokers (NAMB), is taking the reins of the organization on Oct. 1, marking the second time that he’ll be leading the organization.
White originally held the role, which is a one-year term, back in 2020. Five years later, White sat down with HousingWire to discuss his plans for addressing the housing affordability crisis, lobbying efforts and improving mortgage education.
This interview has been edited for length and clarity.
Sarah Wolak: Your takeover as NAMB’s president is about a month away. Your first term was during the first Trump administration and the COVID-19 pandemic. How are you planning for your term five years later?
Kimber White: I’m really excited to hit the ground running. The first thing we’re working on is NAMB National, which is the first event right after I take the presidency. I’ve been part of NAMB since 2012, so I’m very excited.
Then we’re kicking off a mentoring program called Elevate, which we just started requesting mentors for. More than anything else, there’s a lack of education in our industry and the market has slowed. Our industry needs education, whether you’re an experienced loan officer or a new loan officer coming into the business. I don’t think there’s enough education.
As someone with 39 years in the business, I know that one of my main goals is to educate and provide educational tools through our mentoring program, through our video libraries, through educational programs that we already have in place, and in our certification classes.
SW: What are some of the upcoming highlights at NAMB National?
KW: NAMB National is going to have a big focus on education and AI technology — how to enhance it with your business and not let it take over your business.
The [White House Office of Management and Budget] hasn’t come out with a report that was supposed to come out [about LO compensation]. We don’t know what’s going to happen with LO comp, but we know the CFPB is looking at it, so we will be part of that conversation.
Addressing affordable housing programs out of the gate is very important to me this coming year, more than anything else. There’s the largest wealth inequality gap that I’ve seen in 39 years.
I also want to grow our young professional network. We started a young professional subgroup, and we’ve been enhancing our women’s group because we’ve always had a women’s group. These are things I wanted to do in 2020, but I got stuck with the COVID administration.
SW: It was announced this week that President Trump might declare a national housing emergency. And I know that you just mentioned NAMB’s affordable housing initiatives and education. How would that come into play with some of the initiatives that you’re trying to push today?
KW: I think we are in a national housing emergency. I think people are still buying homes. I think people are still on the market. But when I look in the industry, this is the toughest ever. … The gap that we have between people in the 1980s and the people today is astronomical.
Why? Because in the ’80s, at least your paychecks kept up with your housing. The average consumer’s pay has not kept up, so that’s why I talk about wealth inequality. There’s inequality in housing all the way across the board. As someone who has the experience I’ve lived through — quite a few housing bubbles and booms — I think that with NAMB, I’m excited if the president is discussing a housing emergency, or if anyone in Washington is.
I think everyone realizes that there’s an issue. The thing is, now we all need to be part of a conversation to resolve the issue and understand it’s not just throwing money at it. It’s a true conversation. Because we’re talking about insurance, we’re talking about taxes. There’s a lot that goes into this. It’s kind of exciting to come into my presidency and there being a discussion on this happening.
SW: Can you share your plans for how you’ll be leading some advocacy initiatives when you take the president’s role?
KW: One of the advocacy issues I want to go after right now is loan-level pricing adjustments. Call it what it is — they’re taxes. And when I look at loan-level price adjustments, again, if you make under 80% of AMI (area median income), this is an initiative where you can get a much lower interest rate than someone who is at 100% AMI.
So I want to have discussions about if the government wants to really make an impact on interest rates, it doesn’t have to be the Fed’s responsibility to lower the rates. [It can be done] by just getting rid of some of the loan-level prices, just as the previous administration put in place, and especially also on investment properties and second homes.
Of course, we’re focusing on LO comp. We don’t know where LO comp is going, but we need to make sure that the LO comp isn’t totally going away. We’re also focusing on VA, specifically, the Gold Star Spouses bill.
Another area is credit, VantageScore and FICO, specifically, how it’s going to work and how we’re going to educate the brokers on that. These are initiatives that NAMB will lead the way in. … I will want to use my knowledge and my passion for the housing industry to move forward and to work to find solutions.
Americans are moving less in 2025, with overall migration still well below pre-pandemic levels, according to a new report from Bank of America Institute. The number of people who are moving remains significantly lower than before the pandemic – down almost 20% in the first quarter of 2025 compared to the first quarter of 2020, the report said.
While some signs of recovery appeared earlier this year, those gains have not been sustained in the second quarter.
The study — based on anonymized internal account data — found year-over-year drops in both city-to-city moves and moves within the same metro area.
Declines were especially sharp for relocations within a single city.
South and Midwest cities see more inflows
Despite the slowdown, some cities continue to attract new residents.
Indianapolis and Columbus, Ohio, topped the list of fastest-growing metros, while Austin, Texas, and San Antonio also drew steady inflows.
By contrast, many Western and Northeastern metros saw outflows.
Florida — once a major migration magnet — has also cooled, with Miami, Orlando and Tampa all recording net departures.
Bank of America Institute noted that overall inflows and outflows look to have cooled relative to Q1.
Younger movers are pulling back
Generationally, Gen Z and Millennials still account for about half of cross-city moves. But their share has slipped over the past year, while Baby Boomers and older generations have made up a slightly larger portion of relocations. One likely explanation is a softening job market.
More than 40% of respondents to Bank of America’s 2024 Homebuyer Insight Report said they were likely to move across states for job reasons — a clear driver of longer-distance housing moves.
The lock-in effect
Housing supply is another constraint. While new construction has improved, existing home listings remain limited. A major factor is the “lock-in effect” — homeowners holding mortgages with rates far below current levels, making them reluctant to sell and take on higher borrowing costs.
“Selling and resetting their mortgage would mean a significant rise in costs – so they are choosing to sit tight instead, keeping supply depressed,” the Institute said.
The effect is most pronounced in the West, where a large share of households have sub-5% mortgage rates and many devote more than 30% of their income to housing payments. These dual pressures make it especially difficult for owners to consider selling.
The report found similar challenges in New York, Washington, D.C., Miami and Austin, where high mortgage burdens and limited willingness to list homes constrain market activity.
No quick rebound expected
Although housing supply from new builds is improving, Bank of America Institute cautioned against expecting a swift turnaround in mobility.
Over time, so-called “forced moves” — triggered by life events such as job changes, divorces or deaths — are projected to gradually erode the lock-in effect.
“While the good news is that housing supply is improving, particularly for new builds, the lock-in factor in parts of the country – especially the West – will likely remain a constraint,” the Institute said.
The U.S. Department of Housing and Urban Development (HUD) has revised residency requirements for the Section 184 Indian Housing Loan Guarantee program to exclude non-permanent resident aliens.
“This update aligns HUD’s requirements with recent executive actions that emphasize the prioritization of federal resources to protect the financial interests of American citizens and ensure the integrity of government-insured loan programs,” HUD Secretary Scott Turner wrote in a rule published Thursday in the Federal Register.
The Section 184 program provides loan guarantees for enrolled tribal members. Under a rule issued by former acting secretary Adrianne Todman, eligible borrowers included U.S. citizens, lawful permanent residents and non-permanent resident aliens.
That rule also established new lender eligibility and underwriting requirements aimed at reducing risk and increasing participation from financial institutions.
According to Turner, non-permanent residents “are subject to immigration laws that can affect their ability to remain legally in the United States.” In addition, HUD’s ability to “fulfill long-term financial obligations depends on stable residency and employment.”
HUD claims that the update is similar to changes made to mortgage programs insured by the Federal Housing Administration.
Although HUD is accepting public comments until Nov. 3, the rule will take effect Oct. 6. The agency said there is “good cause” to implement the change immediately since “immigration status is rarely at issue under the Section 184 program.”
https://www.juliankent.com/wp-content/uploads/2025/11/logo.png00JKentshttps://www.juliankent.com/wp-content/uploads/2025/11/logo.pngJKents2025-09-05 00:00:162025-09-05 00:00:16HUD moves to bar non-permanent residents from Section 184 tribal loan program
Nēv Schulman, known for hosting MTV reality show “Catfish,” has joined Coldwell Banker Warburg(CBW) as a real estate agent, the brokerage announced Thursday.
His father, Robert Schulman, has been a broker at the firm for more than 30 years and recorded more than $10 million in 2024 volume with an average sale price of just over $1.7 million.
“Hosting Catfish taught me how to listen deeply, build trust quickly, and help people navigate some of the most emotional decisions of their lives. Real estate in New York is no different — you need empathy, patience, and the ability to see through the noise to find the right home,” Nēv Schulman said. “After watching my father dedicate more than 50 years to this business, it feels meaningful to follow in his footsteps and join Coldwell Banker Warburg — a firm that shares the same values of integrity and personal connection that I grew up admiring.”
Nēv Schulman
Nēv — a New York native and father of three — has a background in social media, media production and entertainment.
He has also been active in philanthropy, supporting organizations such as Dance Against Cancer, The Urban Justice Center and Achilles International.
“We’re thrilled to welcome Nēv Schulman to CBW,” said Kevelyn Guzman, CBW regional vice president. “Beyond his career in television and his strong branding expertise, Nēv brings creativity that makes him a natural fit for real estate. We’re especially proud that he chose CBW as the place to begin this next chapter, and we’re excited to support him as he channels his vision into helping clients find their place in New York.”
Schulman joins the firm shortly after Coldwell Banker Warburg added agent Abigail Godfrey, star of Netflix’s “Selling the City,” and The Holmes Team — led by Charles Holmes and Evita LaSasso.
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