Done deal: The TJ Ribs location on Siegen Lane was sold for $2.5 million this week to SDP LA Baton Rouge 1 LLC, which shares an address with Streamline Development Partners of Oxford, Mississippi. Burke Moran, the son of founder TJ Moran, was the seller, as previously reported by Daily Report. While the restaurant still has a six-month lease, the new owner’s plans for the property have not been announced.
Homebuying trends: Mortgage rates have fallen from recent highs, but demand for home loans dropped for the fourth straight week, declining by 1.4% last week compared to the week before, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications to refinance a home loan fell 1% for the week and were 42% lower than the same week a year ago. CNBC has the full story.
Plan B: Biden administration officials are quietly planning for the possibility that the Supreme Court will strike down President Joe Biden’s sweeping student loan forgiveness program. Should the court block the program, the administration would likely pursue more targeted policy options as well as measures aimed at helping borrowers who would be required to resume making payments on their loans. Read the full story from The Wall Street Journal.