Can Tech Save Us?
September 20, 2023
Shelli Girard of Sagent advocates for proactive tech enhancements to ensure readiness for upcoming market shifts; U.S. banks grapple with a looming crisis as commercial real-estate falters, potentially initiating a harmful cycle of reduced lending and further property devaluations; and U.S. homeowners saw a $287.6 billion decrease in equity over the past year, despite gains in Q2 2023.In this issue of Above the Line, we give you the three most important stories in Real Estate, Investing, and Taxation.
Real-Estate Doom Loop Threatens America’s Banks
The Wall Street Journal
U.S. banks are facing a major risk as the commercial real-estate market enters a meltdown, with exposure to the sector reaching trillions of dollars. With rising interest rates and high vacancies, commercial real estate is in a slump, and this could trigger a doom-loop scenario where losses on loans lead to reduced lending, further property price declines, and more losses.
Sagent’s Shelli Girard: We can’t predict the future, but we can be ready for it
Housing Wire
Amidst a sluggish housing market, the industry has a unique opportunity to ramp up technology and operational improvements. This period of slower activity offers a chance to tackle inefficiencies, paving the way for a more efficient lending experience. Shelli Girard, a 2022 HW Tech Trendsetter, shares insights on where to focus tech resources, emphasizing the importance of using this time to prepare for future market cycles.
‘Tsunami’ of ERC claims required IRS action to halt fraud, experts says
Journal of Accountancy
In a crackdown on abuse of the Employee Retention Credit (ERC), the IRS has imposed a moratorium on processing new claims until the end of 2023. This move comes as the IRS has paid out $230 billion in ERC claims and initiated investigations into potentially fraudulent claims, aiming to weed out scams and ensure that only legitimate claims are paid.
Read More
/ Redd
© Redd Accounting 2024