Panelists discuss the trajectory of debt ceiling negotiations on Capitol Hill at the Federal Legislative & Political Forum. (National Association of REALTORS®)
Talk on the economy kicks off REALTORS® Legislative Meetings, with panelists saying the debt ceiling must and will be raised—but Congress also needs to come to grips with ballooning debt. Full Story: REALTOR® Magazine (5/8)
Report highlights benefits of positive brand reputation Businesses with a positive reputation benefit in recruiting top talent and overall financial health, say authors of USC Annenberg Center for Public Relations' "2023 Global Communications Report." PRSA was among the organizations that helped produce the report, which notes that earning a positive reputation "may be easier if you rely on data instead of stereotypes, and insights instead of instincts." Full Story: PRSAY (5/3)
Republic First in process of ending its mortgage business Philadelphia-based Republic First Bancorp said it plans to shut down its mortgage business due to high costs. As part of the process, job cuts are underway in the bank's credit and lending teams in New York. Full Story: Reuters (5/5)
Business Wellness
How to avoid "toxic ambiguity" in your company "Toxic ambiguity" can be a spreading, lethal form of "organizational rot," wasting time and leaving people unsure of what you mean, writes Axios co-founder and CEO Jim VandeHei. Signs that clarity is lacking in your company include fuzzy strategy, fuzzy communication, fuzzy accountability and fuzzy feedback. Full Story: Axios (5/4)
Pandemic years see stark rise in homelessness The Department of Housing and Urban Development says that homelessness in most states rose between 2019 and 2022, with some seeing the number of homeless more than double. "The complexity of homelessness is often lost on people. It's not just housing or a certain kind of housing that's going to solve everything," said Mark Swann, executive director of Maine nonprofit Preble Street. Full Story: Portland Press Herald (Maine) (tiered subscription model) (5/7)
Legislation & Regulation
What April's strong job numbers mean for the economy There were 253,000 jobs added to the nation's nonfarm payrolls in April, and the unemployment rate dropped to 3.4%. The numbers were stronger than economists had expected, and they have ramifications for many aspects of the economy, including how the Federal Reserve chooses to proceed with its mission to tame inflation. Full Story: Kiplinger (5/5)
Yellen foresees "calamity" if debt ceiling not raised There aren't any good ways for the country to avert "calamity" if lawmakers fail to raise the debt ceiling in time, Treasury Secretary Janet Yellen said. Top lawmakers are set to meet with President Joe Biden this week, but Democrats and Republicans continue to disagree about the course forward. Sen. Mike Lee, R-Utah, said Senate Republicans are backing the legislation passed in the House, which calls for spending cuts along with raising the debt ceiling. Full Story: The Wall Street Journal (5/7),The Associated Press (5/7),ABC News (5/7),Politico (5/7),NBC News (5/7)
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The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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