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Source: goodfinancialcents.com

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As mortgage companies turn to artificial intelligence for some tasks, they’re under pressure to comply both with fair lending laws and emerging guidance around AI itself, and that’s raised questions for the industry and its vendors about how to approach the two.

“There’s a lot of noise around AI and fair lending,” said Tori Shinohara, a partner at Mayer Brown. “If you look at the consensus of interagency pronouncements around the use of responsible AI or the White House blueprint for an AI Bill of Rights, those all have anti-discrimination components.”

However, while there’s guidance in this area, there hasn’t been formal regulation, she noted.

“Federal regulators, including the prudential regulators, whenever they put guidance on AI, it almost always has some sort of anti-bias component to it. But in terms of true regulation, there isn’t anything out there yet that is specifically regulating the use of AI in mortgage lending for anti-discrimination purposes,” Shinohara said.

Whether there is formal regulation in this area on the horizon remains to be seen.

“I think the thought is the existing regulatory framework for fair lending: the Fair Housing Act, Equal Credit Opportunity Act, and state laws are sufficient to prevent discrimination in connection with AI and in mortgage lending or servicing, because they’re so broad and cover discrimination as a result of a model in addition to discrimination as the result of an individual decision,” she added.

So these two federal laws are what mortgage companies may want to prioritize in compliance, but mortgage professionals should take note that public officials and agencies are looking at fair lending in new ways too.

“Both laws require any aspects of a credit transaction to be fair, and historically that was interpreted as being just underwriting and pricing,” said Kareem Saleh, founder and CEO of Fairplay AI, in a separate interview. “But if you pay attention to the statements coming out of the federal regulators, there also now seem to be concerns about digital marketing and fraud.”

This means more layers of potential scrutiny of fintech providers in areas where AI is being applied such as customer outreach, Saleh said. 

“I think that is a big consequence of this move toward alternative data and advanced predictive models,” Saleh said. “As those systems are being used at more and more touchpoints in the customer journey, we’re seeing fair lending risks and obligations grow commensurately.”

It’s scrutiny that could apply to servicers as well as originators, as use cases for AI to determine settlements, modification offers or what customers to call, when, and how often emerge, according to Saleh.

What some new dimensions of risk look like
To get a sense of where AI and fair lending rules veer into areas like marketing regulation and potential fraud allegations, consider the following examples. While these lie outside the traditional owner-occupied single-family mortgage market, the situations involved are applicable.

One cautionary tale to be aware of when it comes to compliance for generative AI, a type of machine learning that draws on existing data it’s fed and patterns within it to create new outputs, was an Air Canada chatbot. (Several other airlines have used chatbots as well.)

That chatbot produced a response to a consumer asking about a bereavement discount in 2022 that was a “hallucination,” which is to say the AI somehow interpreted the airline’s data in such a way that it made an offer that didn’t previously exist at the airline and that it didn’t intend. Earlier this year, the British Columbia Civil Resolution Tribunal forced the airline to make good on the offer.

In the United States, that kind of development might lead to violations of laws against unfair, deceptive or abusive acts or practices, Shinohara said.

“I think those would equate to UDAAP concerns if there was something that was provided and was inaccurate, raising questions about whether the company is still on the hook for those types of miscommunications,” Shinohara said.

The Consumer Financial Protection Bureau, Office of the Comptroller of the Currency and other prudential regulators enforce UDAAP, and the Federal Trade Commission enforces laws against unfair or deceptive acts and practices, which might also be relevant in such a circumstance.

Meanwhile, exemplifying the kind of new scrutiny of fair lending risks that might arise when AI gets used for marketing purposes is a recent missive the Department of Housing and Urban Development delivered to real estate agents and lenders.

HUD directed them to “to carefully consider the source, and analyze the composition, of audience datasets used for custom and mirror audience tools for housing-related ads” in conjunction with rules for AI-driven advertising rules and tenant screening. 

Demetria McCain, principal deputy assistant secretary fair housing and equal opportunity, warns in a related press release that “the Fair Housing Act applies to tenant screening and the advertising of housing,” suggesting that officials are watching any customer outreach and approvals in this area for signs of redlining.

Marketing may currently be the bigger concern of the two for housing finance companies in the single-family owner-occupied market.

For now, qualifying borrowers or other core processes are determined primarily by major government-related secondary market players, so mortgage companies in that business are most likely to relegate AI and any related compliance efforts to customer outreach, according to Shinohara.

“I think there’s more focused interest on adopting AI or machine learning tools for things like marketing and how you make your marketing dollars go further. In action with marketing, you run into risks, like digital redlining,” she said. “If you’ve got tools that are being used to select who you’re going to market to, and you are marketing credit products, you should look at whether those tools inadvertently exclude or only give preference to certain communities.”

The path to compliant use of AI
The aforementioned examples of new scrutiny applied to AI-driven tools do raise a key question about whether newer technologies like generative AI are helping to better address inequities that exist than their predecessors, or are further entrenching systemic biases.

“On the one hand, some of the disparate outcomes are likely the result of non-AI models, so you’ve kind of got a modernization issue,” Saleh said. “But also behind some of the disparities are AI issues which basically encode the disparities that were the result of the conventional techniques to begin with, and so it’s a very interesting time to be doing this work.”

AI could be viewed as a constructive force in a lot of the advanced data analysis the government-sponsored enterprises are doing with the aim of safely opening up the underwriting or marketing box in ways that could make lending more equitable.

“In theory, that should allow you to paint a kind of a finer portrait of a borrower, or the ability and willingness to repay a loan,” Saleh said. 

But with AI currently relegated to limited use in conjunction with the customer experience and other challenges to qualifying for a loan existing in the market, applying AI to the point where it allows lenders to actually extend more loans to more people in an equitable manner is tricky.

“There are a lot of headwinds to write related to affordability in particular. So it’s a tough time to do fair lending, because on the one hand, you’ve got more resources than ever on the other hand, the macroeconomic environment is kind of working against you.”

How to address ‘the compliance officer’s lament’
When asked how a mortgage company can best address the aforementioned challenges, Saleh said, “This is the compliance officer’s lament, which is what do you want me to do? If I don’t do things exactly to the letter, am I going to get in trouble?”

Doing things to the letter may not even be possible, because the regulators themselves face a conundrum when it comes to giving companies guidance that’s too specific.

“There have been a lot of requests from the industry for more guidance and I think in some ways, the regulators have wanted to give more guidance. However, in other ways, they’ve been reluctant because they want to maintain their optionality,” he added. “They’re concerned that if they give guidance that’s too specific that people will game the system.”

So the industry is left to navigate what Saleh calls a “strategic ambiguity.”

“The thing about judgment is that you can always be second guessed, but if you can document that you take fairness seriously and why you feel the approach you’ve chosen doesn’t pose a threat to the consumers that you serve, I think that is your best option,” Saleh said.

Because legacy data that fuels generative AI may be biased and its outputs have to be watched for hallucinations, the answer to how to make it a constructive and compliant tool may be ongoing monitoring, a phrase common in consent orders.

The approach is in line with what mortgage companies that offer chatbots have said they’ve done to address the risks.. Instamortgage, for example, has said it limits possible interactions and constantly monitors the company’s personified chatbot, Rachel.

Saleh suggests applying analytics that may be AI-driven and can be examined on a regular basis such as monthly to the problem, perhaps even more frequently where unpredictable generative models are utilized.Although the aforementioned ambiguity from regulators and the opt-in nature of borrower information around race can make it be hurdles to interest in building the kind of robust fair-lending data sets that AI has the capacity to help ingest, Saleh advises doing so. He also advised keeping in mind that regulators generally want an understanding and explanation of any model used, no matter how complex it is, as HUD noted in its aforementioned directive.

“Have the benefit of evidence that’s informed by data so that you can comply and explain,” Saleh said.

Adjustments may not be necessary each time the statistics get examined as aberrations may occur in the short-term. But if counterproductive rather than productive patterns start to appear regularly in analyses, they need to be addressed, he said.

“I think a key part of what originators can do to navigate this environment gets back to saying, ‘Hey, we’re going to monitor frequently to make sure that these models and our decisions are performing reasonably and don’t pose a threat to consumers,” Saleh said.

Source: nationalmortgagenews.com

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Whether you’re a die-hard fan who schedules their life around the release date of every new movie (that’s us) or you haven’t seen the Caped Crusader since Tim Burton’s fanciful depictions in the ’80s and ’90s, the lure of Batman and the sinister world of Gotham has been drawing us all in some way, shape, or form, since the 1960s.

With yet another brand new Bruce gracing our screens recently (the incomparable Robert Pattinson), the popularity of arguably the world’s most famous superhero continues to peak.

With that and a second installment of The Batman officially confirmed, we can think of no better time to take a closer look at all the places the Dark Knight called home.

Where does Batman live?

Photo credit: IMDb

Just beyond the skyscrapers, surrounded by a sprawling estate and secret tech-filled caves, sits the ever-imposing, Wayne Manor.

There have been so many different versions over the years but they’ve all, in their own way, been equally impressive. Starting of course with the first feature-length depiction of our hero and his home back in 1966. 

Batman: The Movie (1966)

Adam West as Batman and Burt Ward as Robin in Batman: The Movie (1966). Photo credit: IMDb

Having starred as Batman in the beloved television series, Adam West continued in the role for the first feature-length, live-action movie directed by Leslie H. Martinson. Since the film was made the same year as the show, we got the same Wayne manor in both.

Built in 1928 and valued by Redfin.com at over 20 million dollars, you’ll find this impressive property at 380 San Rafael Avenue in Pasadena. It boasts a whopping 10 bedrooms, six bathrooms, and almost five acres of land making it truly fit for a millionaire CEO (and part-time bat). 

The impressively long list of other famous productions shot here includes Rush Hour, Murder, She Wrote, Alias, Stand By Me, The X-Files, and so many more.

It even features as the luxurious home where Helen (Rose Byrne) throws the infamous bridal shower in Bridesmaids. You know the scene where Megan (Melissa McCarthy) takes nine puppies as party favors and Annie (Kristen Wigg) flips out and tries to push over a chocolate fountain with her bare hands? Yeah, that all takes place at Batman’s house!

Batman (1989)

Michael Keaton as Bruce Wayne, standing in front of the Knebworth House. Photo credit: Batman Wiki / Fandom

Ramping up the stakes in terms of square footage and, let’s be honest, literally everything else, Tim Burton’s 1989 take on Wayne Manor employed the use of a real-life castle.

That castle is Knebworth House, a stately Tudor home located in Stevenage in the UK. As famous for staging rock concerts as it is for a long history in film, the house and surrounding Knebworth estate have featured in countless blockbusters. The Kings’ Speech, 28 Weeks Later, Nanny McPhee, and Paddington 2 to name just a few.

As for television, you may have also spotted Knebworth doubling as Lady Pheobe’s country house in the latest season of You, and as the inside of Balmoral in The Crown. The best part? During the warmer months, you can buy reasonably priced tickets to tour the house and grounds and soak in all of that history in person. 

Batman Returns (1992)

Wayne Manor in Batman Returns (1992). Photo credit: IMDb

Three years later when Michael Keaton’s Batman, well, returned, Tim Burton gave him all new digs. This new and decidedly spookier home was so full of fantasy that it wasn’t actually real.

So, sadly no house to find but it makes perfect sense. Since the overall design concept for this installment was so wacky and exaggerated, it’s only fitting that Burton designed a house so unique it’s literally out of this world.

See also: Skyfall, James Bond’s Childhood Home in the Scottish Highlands

Batman Forever (1995)

Wayne Manor in Batman Forever. Photo credit: IMDb

As Keaton hung up his cape for the third installment, Val Kilmer stepped in to play the role with Joel Schumacher directing. Alongside our new hero came, you guessed it, a brand new Wayne Manor, and it looked nothing like the ones before.

Taking up the mantel was Stevenson Taylor Hall, home to The Webb Institute, a high-ranking college of engineering in Glen Cove, New York. This new home certainly felt more real, though if you ask us, it lost a little of the fantastical flair that made it feel so intriguing.

Interestingly though, the hall was a hit and went on to feature as Wayne Manor twice more. Firstly in Schumacher’s 1997 sequel, Batman & Robin, then again in the television series, Gotham in 2014. 

Recognize this location? Scenes from the 1998 movie, Great Expectations starring Gwyneth Paltrow, and the CBS series, Limitless were also filmed here!

Batman & Robin (1997)

George Clooney as Batman and Michael Gough as Alfred in Batman & Robin (1997). Photo credit: IMDb

George Clooney‘s Batman was by no means anyone’s favorite, but that’s not to say the 1997 movie did not leave a lasting legacy. In fact, Clooney recently donned the superhero cape recently for a cameo in 2023’s The Flash, 25 years after his run as Batman.

Also directed by Joel Schumacher, this installment in the Schumacherverse may have changed up the lead actor, with Clooney replacing Val Kilmer, but both Chris O’Donnell (as Robin) and the Webb Institute in Glen Cove, New York (as Wayne Manor) retained their roles.

Batman Begins (2005)

 ”…this place is a mausoleum. If I have my way, I’ll pull the damn thing down brick by brick.” 

Bruce Wayne – “Batman Begins“, 2005

Jumping ahead ten years to 2005 Christian Bale is our brand new Batman. Just when we thought Wayne Manor couldn’t be any more impressive, Mentmore Towers appears.

Christian Bale as Bruce Wayne, descending the front steps of Wayne Manor in Batman Begins (2005). Photo credit: IMDb

One of the most iconic and visually striking Residences of the entire franchise, this palatial estate in Buckinghamshire, England dates back to 1852. It has also played a role in countless other iconic movies including Eyes Wide Shut, The Mummy, The Mummy Returns, and even Johnny English! 

Sadly as of last year, and since plans to turn the house into a luxury hotel fell through, this once revered estate now sits in a state of decay. The English Heritage register now has it listed as ‘at risk’. We’re hoping someone swoops in soon to rescue this monumental piece of historical real estate. 

The Dark Knight (2008)

With art almost imitating life, by the end of Batman Begins, Bruce Wayne’s home lies in ruin. All but burned to the ground after an attack by Ra’s al Ghul, Bruce has to leave the mansion and set up shop in his New York apartment.

Christian Bale as Bruce Wayne inside his New York penthouse in The Dark Knight (2008). Photo credit: IMDb

Not quite as grand but we’ll always welcome a swanky NYC penthouse, however, that’s not where these scenes were shot. In fact, filming took place in Chicago, in the lobby of a Mies Van Der Rohe building.

City views were added with green screens to make it look as if the apartment was sitting above the New York skyline when in reality, it was on the ground floor!

The Dark Knight Rises (2012)

Bruce Wayne driving away from Wayne Manor in The Dark Knight Rises (2012). Image credit: Warner Bros.

Okay, so we know we said earlier that each Wayne Manor has proved equally as impressive as the last, but we were wrong. 

Woolaton Hall and the surrounding Deer Park, aka, the newly re-built Wayne estate, might just be the most iconic of all the manors we’ve seen so far. Standing proudly in 500 acres of natural parkland in Nottingham, England, this beautiful Grade I listed building is the one we picture when we when think of the Wayne residence.

And can you visit Batman’s house? Yes! Open from January to May and again from August until November, tickets are available on their website. 

The Batman (2022)

A final ten-year leap and Robert Pattinson has donned the cape! And serving as a background was not a CGI-generated mansion or a palatial English estate, but something in between.

Robert Pattinson as Bruce Wayne in The Batman (2022). Photo credit: IMDb

This iteration of the Wayne manor introduces something new altogether with a sleek Art Deco-style tower and an eclectic mix of architectural styles inside. According to Architectural Digest, however, it’s this unique blend of styles that means it’s unlikely this is a real residence.

Unfortunate, but at least we have plenty of other Manor’s on our to-visit list!

The Batman’s second installment is scheduled for release in 2026 and we can’t wait to see all the action. But mainly, we can’t wait to see Bruce’s next house!

More stories

Bruce Wayne’s manor in Christopher Nolan’s Dark Knight trilogy is a palatial estate fit for Gotham’s prodigal son

The most striking James Bond houses, from villain lairs to ancestral homes

The most memorable houses in the MCU: From Tony Stark’s cliffside mansion to Xavier’s School

Source: fancypantshomes.com

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It’s not even completed yet and THE 74 is already making waves on the Upper East Side with its fresh take on luxury living.

Designed by the visionary architects at Pelli Clarke & Partners and the AD100 superstar Rafael de Cárdenas, the still-under-construction condo building is a modern reinterpretation of the classic New York skyscraper, conjuring city icons like the Chrysler Building, Rockefeller Center and the Waldorf Astoria, but with a distinctly modern twist.

Upon completion — set for summer 2025 — the 32-story tower will feature 42 homes with prices ranging from $3.6 million to $13.55 million, and the finest high-end finishes money can buy.

Here’s what you need to know about this exciting new addition to the NYC skyline — along with a first look at some of the most notable residences at THE 74: a 5-bedroom duplex with a 317-square-foot terrace and a full-floor, 5-bedroom home with Central Park views.

The vision behind THE 74

Photo credit: Elad Group

Elad Group, known for their iconic residential developments, which include Tribeca’s newly converted Clock Tower building and The Plaza’s conversion, has brought together some of the best minds in architecture and design to create THE 74.

“We created THE 74 for the Upper East Side buyers who want a modern home that reflects their modern lifestyle,” said Orly Daniell, President of Elad Group. “Pelli Clarke & Partners and Rafael de Cárdenas have delivered precisely what we envisioned and what this neighborhood has been missing.” 

Pelli Clarke & Partners are known for their skyline-defining masterpieces, and Rafael de Cárdenas has once again showcased his genius with interiors that blend romance and rigor. This collaboration has resulted in 42 high-style homes that are nothing short of breathtaking.

Modern living on the Upper East Side

The 16th floor amenity lounge at THE 74. Photo credit: Elad Group

Located at 201 East 74th Street, this 32-story tower offers a mix of two- to five-bedroom residences, including a duplex penthouse and a unique townhome. Each home is designed with high-quality materials and finishes, reflecting the modern lifestyle of today’s Upper East Siders.

“The mid-70s is one of the most prestigious neighborhoods in Manhattan, with such incredible history, legacy, and beauty. We designed THE 74 to contribute sympathetically to the community with a resonating aesthetic,” said Craig Copeland, Partner at Pelli Clarke & Partners. “Too many contemporary buildings are lifeless, flat and all glass, while THE 74 is animated with rich textures and colors.” 

With no more than three homes per floor, privacy and intimacy are key features of THE 74.

Stunning design and thoughtful amenities

The design of THE 74 is a modern twist on classic New York architecture. The building features a pleated facade with white terracotta and bronze aluminum-framed windows, creating a dynamic look that changes with the light.

Photo credit: Elad Group

Inside, Rafael de Cárdenas has created spaces that are both luxurious and calming. Think European White Oak flooring, bespoke hardwood millwork, and floor-to-ceiling windows that flood the rooms with natural light.

Luxe living spaces

Photo credit: Elad Group

The residences at THE 74 are all about quiet luxury. Kitchens are equipped with top-of-the-line Miele appliances, polished Bianco ice marble countertops, and custom Ash wood cabinetry with fluted glass doors.

The bathrooms are equally impressive, with Calacatta Vagli marble, radiant heat flooring, and Dornbracht fixtures. Whether you’re in a two-bedroom or the duplex penthouse, every detail is designed to impress.

See also: Step inside 130 William Street, one of NYC’s finest new skyscrapers

Residence 6A: A luxe duplex

Photo credit: Elad Group

One of the standout homes at THE 74 is Residence 6A, a 5-bedroom, 5.5-bathroom duplex listed for $11.95 million.

This 5,383-square-foot residence is a quiet luxe oasis carved from sculptural neutrals. It features beautifully proportioned rooms, east and west exposures, and a 317-square-foot terrace. Floor-to-ceiling windows from Italy allow abundant light to stream across the 5″ stained oak floors.

The generous living and dining spaces open to an island kitchen featuring bespoke, stained ash wood cabinetry with fluted glass upper cabinets and polished Bianco ice marble countertops and backsplash. The top-of-the-line Miele appliance suite includes a speed oven and gas cooking, complemented by a Sub-Zero wine refrigerator.

The primary en-suite bathroom is a highlight, with Calacatta Vagli marble walls and floors, radiant heat flooring, and a soaking tub with a marble surround. Secondary bathrooms boast European Porcelain flooring and walls, while the powder room is adorned with Pink Namibia marble vanity and flooring, and Dornbracht brushed platinum fixtures.

FLOOR24: Unmatched luxury

Photo credit: Elad Group

Occupying an entire floor, Residence 24 aka FLOOR24 is another jewel in THE 74’s crown. This expansive 5-bedroom, 4.5-bathroom home is priced at $12.65 million and offers unparalleled light and breathtaking views of Manhattan and Central Park.

The private elevator opens to a formal gallery, providing the perfect entry to the grand living and dining rooms with double exposures. The gourmet kitchen boasts floor-to-ceiling windows, an oversized island, bespoke stained ash wood cabinetry with fluted glass upper cabinets, and polished Bianco ice marble countertops and backsplash. The top-of-the-line Miele appliance suite includes two-speed ovens, a refrigerator, freezer, gas cooking, and a direct vent range hood.

The primary bedroom features an en-suite, five-fixture bath with Calacatta Vagli marble walls and floors, radiant heat flooring, and a soaking tub with a marble surround. Secondary baths include European Porcelain flooring and walls, custom medicine cabinets, and Didimon Light marble vanity. The powder room features Pink Namibia marble vanity and flooring, and Dornbracht brushed platinum faucets.

Amenities to die for

Photo credit: Elad Group

Residents of THE 74 will enjoy a host of curated amenities. There’s a library lounge with a wet bar and private garden, an entertainment suite with catering facilities and video conferencing capabilities, a state-of-the-art fitness center and Pilates studio, and a children’s playroom.

The building’s lobby, with its travertine floors and custom lacquer walls, sets the tone for the elegance that pervades every corner of THE 74.

Sales and pricing

Photo credit: Elad Group

Sales for these luxury condos are now underway, with prices ranging from $3.6 million to $13.55 million. Douglas Elliman Development Marketing is handling the sales, and given the unique offerings of THE 74, these homes are sure to attract a lot of attention.

For more information, visit THE 74’s sales gallery at 1277 Third Avenue or check out their website.

Prime location with exciting new spots

Photo credit: Elad Group

THE 74 isn’t just about the building; it’s about the neighborhood too. The Upper East Side is seeing a surge of new restaurants and bars, making it a hotspot for those moving from trendier areas downtown and in Brooklyn.

You’ll find Cafe Boulud, American Bar, and Casa Tua all opening up nearby, adding to the area’s already vibrant dining scene.

Construction update

THE 74 has topped out, and construction is progressing well, with completion expected by the summer of 2025. The building is already making an impression with its nearly complete facade and the installation of terracotta panels expected this summer.

Photo credit: Elad Group

More stories

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Inside a rare, unaltered $14.5M apartment in New York City’s iconic San Remo building

The star-studded 443 Greenwich St. building & the 13 biggest celebrities that lived here

Source: fancypantshomes.com

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With its rich industrial history, diverse cultural scene, and stunning riverfront views, Pittsburgh offers a unique blend of old-world charm and modern amenities. Considerations for residents include the city’s ever-evolving weather patterns and the abundance of outdoor recreational activities. So whether you’re searching for the perfect apartment in the heart of downtown Pittsburgh or eyeing a cozy rental house in the suburbs, you’ve come to the right place.

In this Apartment Guide article, we’ll cut to the chase, breaking down the pros and cons of moving to Pittsburgh. Let’s get started and see what awaits in the city of bridges and innovation.

Pros of living in Pittsburgh, PA

1. Rich cultural heritage

Pittsburgh boasts a rich cultural heritage, with a strong emphasis on the arts, music, and history. The city is home to world-class museums such as the Carnegie Museum of Art and the Andy Warhol Museum, offering residents a wealth of artistic experiences. Additionally, the Pittsburgh Symphony Orchestra and the Pittsburgh Opera provide top-notch performances for music enthusiasts. The city’s historical significance is also evident in its many landmarks and historic sites, allowing residents to immerse themselves in the rich history of the area.

2. Affordable cost of living

One of the major pros of living in Pittsburgh is its affordable cost of living. The average rent for a 2 bedroom apartment in Pittsburgh is only $1,712, less than nearby Philadelphia’s average rent of $1,925. Compared to other major cities, Pittsburgh offers residents a more budget-friendly lifestyle, with lower housing costs and overall expenses. This makes it an attractive option for individuals and families looking to stretch their dollars further and enjoy a comfortable standard of living without breaking the bank.

3. Vibrant neighborhoods

Pittsburgh is known for its diverse and vibrant neighborhoods, each with its own unique character and charm. From the trendy and bustling Strip District to the historic and picturesque South Side, residents have a wide range of neighborhoods to choose from, each offering its own distinct amenities and attractions. Whether you’re looking for a lively urban environment or a quiet suburban setting, Pittsburgh has a neighborhood to suit every lifestyle.

4. Outdoor recreational opportunities

For nature lovers and outdoor enthusiasts, Pittsburgh offers a plethora of recreational opportunities. With its proximity to the Allegheny Mountains and the three rivers that converge in the city, residents can enjoy a wide range of outdoor activities, including hiking, biking, kayaking, and fishing. The city’s numerous parks and green spaces provide ample opportunities for residents to connect with nature and stay active in the great outdoors.

5. Thriving food scene

Pittsburgh’s food scene is thriving, with a diverse array of culinary options to satisfy every palate. From trendy farm-to-table eateries to iconic diners and ethnic restaurants, the city offers a wide range of dining experiences. Residents can indulge in local specialties such as pierogies and Primanti Brothers sandwiches, as well as explore international cuisines from around the world, making Pittsburgh a paradise for food lovers.

6. Strong sense of community

Pittsburgh is known for its strong sense of community, with residents who take pride in their city and actively participate in local events and initiatives. The city’s tight-knit neighborhoods foster a sense of belonging and camaraderie, making it easy for newcomers to feel welcomed and integrated into the community. Whether it’s through neighborhood block parties, volunteer opportunities, or local support groups, Pittsburgh residents value the importance of connection and community.

7. Access to top-notch healthcare

Pittsburgh is home to world-renowned medical facilities and research institutions, providing residents with access to top-notch healthcare services. The University of Pittsburgh Medical Center system is highly regarded for its quality of care and innovative treatments, ensuring that residents have access to the best medical resources and specialists. This can offer peace of mind for individuals and families, knowing that they are in good hands when it comes to their health and well-being.

Cons of living in Pittsburgh, PA

1. Weather extremes

One of the major drawbacks of living in Pittsburgh is its weather extremes, with cold and snowy winters and hot and humid summers. Residents must be prepared to endure the harsh winter conditions, including heavy snowfall and freezing temperatures, as well as the sweltering heat and humidity during the summer months. This can be a challenge for those who prefer milder and more consistent weather throughout the year.

2. Industrial legacy

Pittsburgh’s industrial legacy is still evident in certain areas of the city, with remnants of its steel and manufacturing past. While the city has undergone significant revitalization efforts, some neighborhoods still bear the scars of industrial decline, including environmental concerns and urban blight. This can detract from the overall aesthetic and appeal of certain areas, impacting the quality of life for residents in those communities.

3. Limited job opportunities in certain industries

While Pittsburgh has a diverse economy, there may be limited job opportunities in certain industries, particularly those that are not as prominent in the region. This can pose a challenge for individuals seeking employment in specific fields, requiring them to explore job prospects in other cities or industries. Major employers in Pittsburgh include UPMC, the University of Pittsburgh, PPG, and PNC Bank. It’s important for residents to carefully consider their career options and the job market in Pittsburgh before making a decision to relocate to the city.

4. Higher taxes

One of the cons of living in Pittsburgh is the higher tax rates compared to some other cities. Residents may face higher property taxes, income taxes, and sales taxes, which can impact their overall financial situation. It’s important for individuals and families to factor in the tax implications when considering the cost of living in Pittsburgh and to plan their finances accordingly.

5. Traffic congestion

Pittsburgh can experience significant traffic congestion, especially during peak commuting hours and major events. The city’s hilly terrain and complex road systems can contribute to traffic bottlenecks and delays, impacting the overall commute experience for residents. It’s important for individuals to consider their transportation needs and preferences when choosing a neighborhood in Pittsburgh, taking into account the potential traffic challenges they may encounter.

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Donald R. Horton, chairman of the eponymous homebuilder that shared his name, died suddenly at age 74; no further details were disclosed. According to a LinkedIn post, D.R. Horton employees were notified on Thursday afternoon, with the company putting out a press release on Friday morning.

Horton was the founder of the company in 1991 and occupied the chairman’s role since then, as well as acting as president and CEO from July 1991 until November 1998.

Horton, who stepped back from an executive role at his company D.R. Horton in October, died suddenly on Thursday.

He was involved in real estate and homebuilding since 1972, and was the founder, sole or principal stockholder, director and president of each of D.R. Horton’s predecessor companies, which date from 1978 to 1990.

D.R. Horton was the largest homebuilder in the nation in 2022 based on gross revenue, at $32.67 billion, edging out Lennar at $31.78 billion, according to Statista.

David Auld, executive vice chairman, has been elevated to executive chairman after Horton’s death.

“It is with great sadness that I announce the passing of my friend and our company’s iconic founder and chairman, Don (“DR”) Horton,” Auld said in the announcement. “Throughout the company’s 46-year existence, he worked tirelessly to build a national homebuilding operation with a strong company culture, and the impact of his personal involvement with our team of operators across the United States has contributed immeasurable value to our company and people.”

On Oct. 1, 2023, Horton stepped aside from an executive role at the homebuilder but remained as chairman. Auld moved to executive vice chairman from president and CEO, while Paul Romanowski, the then-executive vice president and co-chief operating officer moved into the jobs Auld previously occupied; no reason was provided for the changes at the time.

“We are all indebted to DR for his vision, tenacity and never-ending drive to continue to grow and improve our company,” Auld said. “While he is impossible to replace, we will strive to carry on his legacy of enabling the dream of homeownership for individuals and families across the United States in every stage of their lives.”

D.R. Horton owns an in-house lender, DHI Mortgage. In the first quarter, the company said this business provided financing for 80% of homes it sold, according to the 10-Q filing.

The homebuilder closed on the sale of 22,548 homes, with DHI originating the mortgage on 18,066. That compared with 19,664 and 14,865 for the first quarter of 2023.

The financial services segment, which includes a title company, had pretax income of $78 million for the first quarter, down from $85.6 million one year prior.

In its fourth quarter results, D.R. Horton noted its home sales business was being boosted through the use of temporary mortgage rate buydowns.

A public memorial for Horton will be held at a later date. He is survived by his wife Marty, their sons Ryan (and his wife Stacy) and Reagan (and his wife Michelle) and four grandchildren: Douglas, Madeline, Derek and Shelby.

Source: nationalmortgagenews.com