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Acting like you have command of a situation can backfire if it prevents you from learning how to handle it properly, author and executive coach Laura Gassner Otting writes. A beginner's mindset of learning new things and continuing to grow ultimately can cement you as a stronger communicator and businessperson. Full Story: SmartBrief/Leadership (5/9)
Many managers never learned the drill for helping employees with burnout, but "stop, drop and roll" isn't too far from the emergent response they need from you, Noemie Le Pertel, CEO Institute for Global Flourishing, writes. Take the problem seriously, discover the root of their burnout, work with them on solutions and follow up, Le Pertel advises. Full Story: Harvard Business Review (tiered subscription model) (5/10)
NAR Chief Economist Lawrence Yun discusses the Federal Reserve’s most recent interest rate hike at the Residential Economic & Trends Forum. (National Association of REALTORS®)
The Federal Reserve's continual interest rate hikes are freezing lending activity, which undermines efforts to build homes and relieve inventory, says NAR's Lawrence Yun and NAHB's Robert Dietz. Full Story: REALTOR® Magazine (5/11)
Offers for abandoned Florida house prove value of location Despite extensive damage and having been abandoned for more than a year, this Miami Shores, Fla., property attracted multiple offers after listing for $650,000. "Due to where it is located, I'm not surprised [it received offers]. It's a beautiful neighborhood, it's highly desirable, has great schools and in is a great location, so I wasn't so shocked," says listing agent Tamika Moses. Full Story: CBS News (5/10)
Inside New York's priciest ZIP code Manhattan holds the priciest residential listings in all of New York, with buyers attracted to the locations with proximity to the waterfront, shops and green spaces. Median list price for the area is $4.55 million. Full Story: The Wall Street Journal (5/10)
A new first-time buyer mortgage in the U.K. lets buyers finance 100% of the home's value as a way to help people break the cycle of renting. Some say these five-year loans also bring the risk of negative equity for buyers if home values decline. Full Story: Ideal Home (5/10)
Legislation & Regulation
Fed's Jefferson says credit tightening is to be expected The Federal Reserve's latest report on financial stability and its survey of bank loan officers have indicated banks are tightening their credit conditions, but the Fed has played down the likelihood of an impending crisis. Fed Governor Philip Jefferson commented this week: "Data showing that banks have started to raise lending standards ... is typical for where we are in the economic cycle. The economy has started to slow in an orderly fashion." Full Story: Reuters (5/10)
April consumer price index could aid case for Fed pause The consumer price index increased 4.9% year over year in April, with core inflation at 5.5%. The readings show that, while inflation remains stubbornly elevated, price pressure has not worsened. This could provide Federal Reserve policymakers with substantial evidence that a pause in interest-rate increases might be warranted. Full Story: The Wall Street Journal (5/10),Bloomberg (5/10)
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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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