REBusinessOnline

Bipartisan Group in Congress Introduces Low-Income Housing Bill to Boost Tax Credit for Developers

WASHINGTON, D.C. — A bipartisan group from the U.S. Senate and House of Representatives has introduced legislation that would expand and strengthen the low-income housing tax credit (LIHTC) program. The Affordable Housing Credit Improvement Act (AHCIA) of 2021 was introduced by senators Maria Cantwell (D-WA), Todd Young (R-IN), Ron Wyden (D-OR) and Rob Portman (R-OH); and representatives Suzan DelBene (D-WA), Jackie Walorski (R-IN), Don Beyer (D-VA) and Brad Wenstrup (R-OH). First introduced …

US Retail Sales Increase 9.8 Percent in March, Surpassing Forecasts by Economists

WASHINGTON, D.C. — The U.S. Commerce Department reports that retail sales increased 9.8 percent in March, following a 2.7 percent decrease in February. The numbers surpassed the Dow Jones economists’ prediction of a 6.1 percent gain for the month. The sales growth is the biggest monthly gain since May 2020 (18.3 percent), which also came after a round of stimulus checks. According to CNBC, the newly issued stimulus checks gave consumers more discretionary income to spend on goods and …

First-Time Claims for Unemployment Insurance Decrease to 576,000, Lowest Total in 13 Months

WASHINGTON, D.C. — A total of 576,000 Americans filed for first-time unemployment assistance for the week that ended April 10, the U.S. Department of Labor reported Thursday. These claims were the lowest figures seen since March 14, 2020 (256,000 claims). The amount of initial jobless claims was lower than the 744,000 figure that economists surveyed by Dow Jones predicted. Continuing claims, for which data lags a week, decreased by 98,000 to a little more than 3.76 million.In addition to …

Feldman Ruel Arranges $4.2M Sale of Land in D.C., Buyers Plan Mixed-Use Affordable Housing Project

WASHINGTON, D.C. — Feldman Ruel Urban Property Advisors has arranged the $4.2 million sale of 4618 14th Street NW, a 25,153-square-foot development site located directly across the street from WMATA’s planned redevelopment of the Northern Bus Garage in Washington, D.C. Heleos, a Washington, D.C.-based affordable housing developer, bought the site in partnership with a local performing arts nonprofit.Josh Feldman and Ian Ruel of Feldman Ruel marketed the property on behalf of the seller, …

First-Time Claims for Unemployment Insurance Increase to 744,000, Higher Than Expected

WASHINGTON, D.C. — A total of 744,000 Americans filed for first time unemployment assistance for the week that ended April 3, the U.S. Department of Labor reported Thursday. The amount of initial jobless claims was higher than the 694,000 figure that economists surveyed by Dow Jones predicted and is an increase of 16,000 from last week’s revised total of 728,000. Last week, the original number of first time unemployment claims were a total of 719,000. Continuing claims, for which data lags …

DHCD Provides Construction Financing for 54-Unit Affordable Seniors Housing Project in D.C.

WASHINGTON, D.C. — The Department of Housing and Community Development (DHCD) has provided financing from local and federal resources to develop 54 affordable housing units in Wards 4 at the Abrams Hall Senior Apartments in Washington, D.C.Abrams Hall Senior LP, a joint venture between Urban Atlantic and nonprofit organization Housing Up, received $2.4 million from the District’s Housing Production Trust Fund (HPTF) to develop the assisted living facility located at 1320 Main Drive NW. …

US Economy Adds 916,000 Jobs in March, Unemployment Rate Down to 6 Percent

WASHINGTON, D.C. — The U.S. economy added 916,000 jobs in March, the Bureau of Labor Statistics (BLS) reported Friday. Economists surveyed by Dow Jones had expected the report to show a gain of 675,000 jobs, and this increase was the largest spike seen since August 2020. The unemployment rate fell to 6 percent in March. Revisions added 156,000 jobs to the totals for January and February.This growth follows the widespread administration of the COVID-19 vaccines and President Joe Biden’s …

First-Time Claims for Unemployment Insurance Increase to 719,000

WASHINGTON, D.C. — A total of 719,000 Americans filed for unemployment assistance for the week that ended March 27, the U.S. Department of Labor reported Thursday. The amount of initial jobless claims was higher than the 675,000 figure that economists surveyed by Dow Jones predicted and is an increase from last week’s revised amount of 658,000. Continuing claims, for which data lags a week, decreased by 46,000 to a little more than 3.8 million.Despite the unemployment insurance claims …

First-Time Claims for Unemployment Insurance Decrease to 684,000, Lowest Figure Since Pandemic

WASHINGTON, D.C. — A total of 684,000 Americans filed for unemployment assistance for the week that ended March 20, the U.S. Department of Labor reported Thursday. This week was the first-time total claims fell below 700,000 since the pandemic started, according to CNBC. The amount of initial jobless claims was lower than the 735,000 figure that economists surveyed by Dow Jones predicted and is a decrease from last week’s revised amount of 770,000. Continuing claims, for which data lags a …

First-Time Claims for Unemployment Insurance Rise to 770,000, Higher Than Expected

WASHINGTON, D.C. — A total of 770,000 Americans filed for unemployment assistance for the week that ended March 13, the U.S. Department of Labor reported Thursday. The amount of initial jobless claims was higher than the 700,000 figure that economists surveyed by Dow Jones predicted and is an increase from last week’s revised amount of 725,000. Continuing claims, for which data lags a week, decreased to a little more than 4.1 million.The unemployment numbers were expected to fall lower …

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