Real Estate News 12/04/2024

Today’s News Synopsis:

In The News:

Planetizen– “NYC Likely to Legalize ADUs as Part of ‘City of Yes’ Reforms“ (12-04-24)

“Two New York City subcommittees approved a modified version of the City of Yes zoning reform plan proposed by Mayor Eric Adams, paving the way for its full approval, reports Eliza Relman in Business Insider. The plan includes zoning changes that will permit accessory dwelling units (ADUs) in more parts of the city.”

CNN- “The battle against 6% broker fees isn’t over after a surprise 11th hour court filing“ (11-28-2024)

“The US Department of Justice threw even more doubt into a new way of paying for real estate brokers this week, raising concerns about a recent wide-ranging legal settlement.”

NAR –  “Migration Trends“(11-27-24)

“According to U.S. Census Bureau data, 42% of these moves were driven by housing reasons, 26% for family reasons, 16% for employment reasons, and only one percent moved due to climate-related reasons.”

Money Talks News –  “Trump Tax Plans Could Exempt 93 Million Americans From Income Taxes” (10-22-24)

“Trump’s tax plans could lift millions out of the income tax system — but there are caveats.”

CBS News –  “Can you get a HELOC while on Social Security?” (12-04-24)

“Borrowing from your home equity can be tricky if you’re retired and on Social Security, but that doesn’t mean it’s impossible.”