Wells Fargo Paying $3.7B for Consumer Violations

CFPB says Wells Fargo charged illegal fees on mortgages and auto loans, and it improperly denied mortgage loan modifications. Overall, 16M people were impacted.

Housing Starts Down 0.5% – Single-Family 4.1%

The Nov. number of multifamily units under construction was its highest since December 1973,  even as the number of single-family starts dropped six months in row.

New Year’s Resolution: Invest in Real Estate

Stocks mainly pay when they appreciate and bonds via coupons, but real estate offers five profit centers, such as income, tax savings and principal paydown.

Builder’s Index Tracks New-Home Slowdown

NAHB’s monthly survey of builders’ attitudes recorded higher pessimism every month in 2022. The Dec. reading was down 2 points to 31, the lowest reading since 2012.