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The Real Estate News Brief: Lumber Prices Headed Lower, New FHA Foreclosure Rules, Google’s New Tool for House Hunters

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In this Real Estate News Brief for the week ending May 14th, 2022… why lumber prices are falling, what the FHA is doing to discourage investors, and the new Google mapping tool that could help house hunters. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic News We begin with economic news from this past week. Inflation appeared to slow down a bit last month. The government reported a slight decline in the Consumer Price Index from an annual rate of 8.5% in March to 8.3% in April. But that’s coming off a 40-year high, so we haven’t come down much. Plus, the so-called “core rate of inflation” - which omits prices for food and gas - was .6% higher. That was a disappointment on Wall Street because analysts had forecast a lower .4% increase. (1) As reported by MarketWatch, many economists expect inflation to slow down, but they say it will probably take a while for that to happen. Supply chain issues and the labor shortage a