Supreme Court blocks Trump from removing Fed governor Lisa Cook

😘 Happy Tuesday, kiss June goodbye.

Today’s newsletter is 624 words—a 2.5-minute read.

1. 79% of Americans support tax breaks for first-time homebuyers

Most Americans support government policies aimed at making housing more affordable. About four in five (79%) residents say there should be tax breaks for first-time homebuyers, while 77% support policies that would make homes more affordable, according to a Redfin survey.

Other key findings include:

• 76% support caps on rent increases

• 75% support initiatives to build homes for low-income families

• 74% support programs that provide down payment assistance

• 54% support policies that make it easier to build homes in their communities

2. Austin sued after reclaiming land from 170 property owners

The city of Austin is facing a lawsuit from property owners over its decision to reverse the release of 170 Travis County properties from its extraterritorial jurisdiction (ETJ).

The plaintiffs argue the city had no legal authority to reverse releases it had already approved, in some cases months or years earlier, and did so without notice, a hearing, or an opportunity to appeal.

Austin says the reversals were required under a state law exception involving properties within five miles of a federally funded or operated military facility, citing the Bee Cave Armory. The property owners dispute that interpretation and are seeking to have the ETJ releases reinstated.

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

Your investor clients think DSCR loans require positive cash flow.
They don't.
DSCR lenders ignore personal income entirely. They only evaluate what the property rents for versus the mortgage payment.
You can get approved even with negative monthly cash flow—the rate and down payment adjust, but the approval doesn't die.
Watch the full video for my 9 DSCR loan secrets most investors don't know, and don’t forget to share this video.
If you have an investor looking to buy, let me talk to them so we can map it out together!

3. Catch up quick

💪 Housing markets where homebuyers have gained the most power. (ResiClub)

🏡 Fewer homeowners are listing as spring market ends. (Redfin)

🔑 53% of consumers prefer buying over renting for the first time since 2023. (BoA)

💼 Dallas approves $18.5M incentive package for Morgan Stanley’s move. (TRD)

4. Homebuyer migration hits a new record

Roughly one in five (19.1%) house hunters looked to move to a different part of the country in Q1, up slightly from 18.9% a year earlier and the highest share since records began in 2021, according to a Redfin report.

At the state level, Texas ranked sixth among the most popular destinations for relocating house hunters, with 10,072 net inflows. Florida ranked first, attracting 46,664 net inflows.

A MESSAGE FROM PODIUM

Their first after-hours call was a $20,000 job.

Air Texas was paying $2,000 a month for an answering service that couldn't close jobs.

Their first after-hours call with Podium’s AI Employee booked a $20,000 job.

Now no call goes unanswered after 5PM.

See how it works

5. Supreme Court blocks Trump from removing Fed governor Lisa Cook

The Supreme Court has blocked Trump’s attempt to remove Federal Reserve governor Lisa Cook. In a 5-4 opinion, the court ruled that Cook can remain in her role while she challenges allegations of mortgage fraud brought by Trump administration officials.

The decision sends the case back to lower courts, where the administration will need to prove its claims if it wants to proceed with the removal. Cook will also have the opportunity to challenge the allegations.

The ruling reinforces legal protections for Fed governors, finding that they can only be removed under specific conditions.

☀️ Thank you for starting your day with us!

If you like this newsletter, your friends may too. Forward it to a friend, and let them know they can subscribe here.

Interested in advertising to 35k+ Texas Realtors? Email Us