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Keyword: housing

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  • Home Capital shares plunge after mortgage lender seeks $2 billion credit line as deposits decline

    04/26/2017 2:22:34 PM PDT · by Reverend Wright · 26 replies
    Financial Post ^ | April 26, 2017 | Armina Lagaya
    Home Capital Group Inc. said Wednesday its subsidiary has seen deposits drop by nearly $600 million in recent weeks and it is seeking a $2 billion credit line to mitigate the impact, which it expects to accelerate. ... As part of the agreement, Home Trust would be required to pay a non-refundable commitment fee of $100 million and make an initial draw of $1 billion. The interest rate on outstanding balances would be 10 per cent, and the standby fee on undrawn funds would be 2.5 per cent, Home Capital added. Gloyn said this translates to an effective interest rate...
  • Carson: HUD-Funded Projects Will Grow Jobs For Low-Income Americans

    04/23/2017 11:22:50 AM PDT · by HarleyLady27 · 25 replies
    Western Journalism ^ | April 22, 2017 | Jack Davis
    Low-income Americans will no longer be passed over when the federal government pays the bill for construction projects, HUD Secretary Ben Carson said Thursday. Carson said using a rule that has been ignored for much of the past 50 years is part of his different approach to running the Department of Housing and Urban Development. “It’s not how many people we can get into public housing,” Carson said during an interview with Newsmax TV. “It’s how many people we can get out of it.”
  • Immigrants Key to Homeownership Growth

    04/20/2017 3:46:17 PM PDT · by smokingfrog · 30 replies
    Realtor Mag ^ | April 12, 2017 | Robert Krueger
    Foreign-born residents will have a "significant impact" on the housing market according to "Housing in America: Immigrants and Housing Demand," released by the Urban Land Institute's Terwilliger Center for Housing. The report also notes that if the current levels aren't sustained, the industry could suffer. "Immigrants have helped stabilize and strengthen the housing market throughout the recovery," says Stockton Williams, executive director of the Terwilliger Center. "Immigrants' housing purchasing power and preferences are significant economic assets for metropolitan regions across the country. This suggests the potential for much more growth attributable to foreign-born residents in the years ahead." Immigrants in...
  • Can a privately owned co-op evict residents for smoking?

    04/18/2017 5:54:19 PM PDT · by Kaslin · 53 replies
    Hot Air.com ^ | April 18, 2017 | JAZZ SHAW
    Back in December we looked at one of the final “midnight regulations” handed down from the Obama administration which sought to ban smoking tobacco products in government housing units. That was a complicated case to be sure, but Susan Shapiro brings up an even stranger story at the Washington Post this week. Shapiro is a former smoker herself (who is to be congratulated for having kicked the habit fifteen years ago) and lives in a privately owned co-op which is considering banning smokers and even giving the boot to people who already own a unit there if they smoke. The...
  • Google Makes Nevada Land Grab for Data Center

    04/17/2017 5:46:21 AM PDT · by rktman · 30 replies
    wsj.com ^ | 4/17/2017 | Jack Nicas/ Jim Carlton
    Tesla Inc.’s “gigafactory” has a big new neighbor: Google. Google last week bought land stretching across 1,210 acres at a private industrial park east of Reno, Nev., for $29.1 million, according to people familiar with the deal and documents filed late Friday in Storey County, Nev. The Alphabet Inc. GOOGL -0.15% unit aims eventually to build a data center at the 107,000-acre Tahoe Reno Industrial Center, according to these people. Google, which made the deal through a subsidiary called Silver Slate LLC—created in Delaware in August—has no immediate plans to build, according to a person close to the company. The...
  • Sanford and Son VS the HOA

    04/13/2017 7:07:12 PM PDT · by TermLimitsforAll · 77 replies
    My mind | 04/13/2017 | Myself
    Alright all knowing FRiends. I have one of those neighbors, you know the ones, that keep their junk in their back yard. Normally I'd be ok with it but I moved to a subdivision with an HOA and guidelines in the bylaws regarding maintenance of the property including the back yard. I'm forced to look at 7 foot tree stumps that they had a stop order on due to cutting them down illegally, commercial stoves from his food truck, chain link fencing just laying around and even a fence he decided to move in about 7 feet from his property...
  • Are Homes Still Affordable? If You Have A College Degree And Little Debt, Maybe Not

    04/13/2017 1:32:06 PM PDT · by SeekAndFind · 36 replies
    International Business Times ^ | 04/13/2017 | BY LYDIA O'NEAL
    While 86 percent of Americans between the ages of 18 and 24 see owning a house as more affordable than renting —and 68 percent view their first house as a "stepping stone" to a dream home — just one in five think they can make a down payment, according to a new report released Wednesday by Bank of America. (The bank, it should be noted, made an unusually low $960 million in consumer mortgage banking income last year.) Millennials, the generation that last year, for the first time in the modern era, became more likely to live with their parents...
  • Portable toilets converted into homes for homeless (CA)

    04/08/2017 2:49:52 PM PDT · by 11th_VA · 107 replies
    KBZK News ^ | Apr 08, 2017 6:19 AM PDT By CBS News
    LOS ANGELES - A Los Angeles man says he’s found a solution to the city’s housing crisis in the most unlikeliest of places. T.K. Devine wants to help solve L.A.’s homeless problem with portable toilets. “Folks who are living it rough and living on the streets and are trying to make a better life for themselves, they need consistency,” Devine told CBS Los Angeles. “They need a good night’s rest.” The 35-year-old founder of Porta-Home is converting portable toilets into portable homes out of a downtown Los Angeles warehouse, including one built for himself....The system rests on a trailer that...
  • A robot can print this $32,000 house in as few as eight hours — take a look inside

    04/07/2017 1:08:44 AM PDT · by 2ndDivisionVet · 25 replies
    Business Insider ^ | April 6, 2017 | Leanna Garfield
    Building a house completely by hand can be both time-consuming and expensive. A number of home-builders have chosen to automate part of the construction process (i.e. by printing the home's parts) instead. A new Ukrainian homebuilding startup called Passivdom uses a 3D-printing robot that can print parts for tiny houses. The machine can print the walls, roof, and floor of Passivdom's 380-square-foot model in about eight hours. The windows, doors, plumbing, and electrical systems are then added by a human worker. When complete, the homes are completely autonomous and mobile, meaning they don't need to connect to external electrical and...
  • Sen. Chuck Schumer's "Race-Card" Backfires! (Flashback 2006)

    Larry Elder reads from a 2006 article in The American Spectator entitled, "Race to the Top" (http://tinyurl.com/gn88j7m). In the article we find out some interesting sides to the new Senate Minority Leader. And I am sure this info will become much more public now that the words of Sen. Schumer (D-NY) are in the troposphere.
  • De Blasio’s housing-killing class warfare

    03/26/2017 6:38:24 PM PDT · by 198ml · 11 replies
    New York Post ^ | 3/26/17 | Nicole Gelinas
    New York has a problem: buying an apartment here is way too expensive. Mayor de Blasio has grouchily ambled along with a solution: make apartments even more expensive. That makes no sense. But it’s the principle of the mayor’s proposed “mansion tax.” Last week, de Blasio went up to Albany to push his idea: forcing home buyers to pay a “paltry” 2.5 percent tax on the value of purchases above $2 million. The tax would raise $336 million a year. That would be enough to subsidize 25,000 poorer elderly folks’ rent by a little more than $1,000 a month, as...
  • House prices: Take a tour inside a Sydney micro apartment

    03/21/2017 7:04:25 AM PDT · by Twotone · 35 replies
    ABC Radio Sydney ^ | March 19, 2017 | Lucia Stein & Lawrence Champness
    With housing affordability a huge concern for many Sydney residents, one organisation is offering low- to middle-income earners the opportunity to live more cheaply in smaller spaces. Evolve Housing's initiative has already seen single people and couples making the switch to one-bedroom, one-bathroom places that are close to work but do not hurt the hip pocket. But can people actually live in a tiny apartment? The ABC took a tour inside one to see what it would be like.
  • Brown to highlight country’s infrastructure projects in Cincinnati

    03/07/2017 7:43:31 AM PST · by Tolerance Sucks Rocks · 4 replies
    The Hamilton Journal-News ^ | Feburary 13, 2017 | Michael Pitman and Ed Richter
    CINCINNATI - U.S. Sen. Sherrod Brown, D-Ohio, will highlight in downtown Cincinnati this morning key infrastruture projects, such as the Brent Spence Bridge, as he outlines a framework to rebuild and repair the country’s infrastructure which will create millions of construction jobs. The northern Ohio Senator will be joined by Cincinnati Mayor John Cranley, Port of Greater Cincinnati Development Authority President and CEO Laura Brunner, and OKI Regional Council of Governments Deputy Executive DirectorRobert Koehler. President Donald Trump previously promised $1 trillion of investment in American infrastructure during his campaign. Brown joined Senate colleagues to release a roadmap for making...
  • It’s official: Ben Carson confirmed as HUD secretary

    03/02/2017 7:40:49 AM PST · by SeekAndFind · 53 replies
    Housing Wire ^ | 03/02/2017 | Brena Swanson
    Ben Carson is now officially confirmed as secretary of the Department of Housing and Urban Development, following the Senate vote Thursday morning. The approval locks in one of the few remaining cabinet members left to be approved. The Senate floor voted the day before on the motion to invoke cloture on the nomination of Carson, passing the vote 62-37. The significant majority vote gave Carson a likely green light to be confirmed on Thursday. Despite a controversial start to his nomination, it turned out to be all bark and no bite as his hearing went fairly smooth. The former neurosurgeon...
  • Investors in America's housing-finance giant lose in court (Fannie and Freddie)

    02/26/2017 6:24:16 PM PST · by Lorianne · 9 replies
    Economist ^ | 25 February 2017
    One unresolved issue from the financial crisis is the future of Fannie Mae and Freddie Mac, the two firms that stand behind much of America’s housing market. Fannie and Freddie purchase mortgages, bundle them into securities and sell them on to investors with a guarantee. When America’s housing market collapsed a decade ago, the government had to bail them out. Its treatment of the firms since then has created a titanic legal struggle. Shareholders have cried foul. On February 21st, a federal appeals court upheld a ruling in the government’s favour. At issue is the Obama administration’s decision in 2012...
  • To keep their artists, cities explore affordable housing

    02/26/2017 4:28:20 PM PST · by 2ndDivisionVet · 24 replies
    The Watertown Daily Times ^ | February 26, 2017 | Stateline.org
    NEW ORLEANS — At 75, Deacon John Moore considers himself one of the lucky ones: The scion of three generations of music-making Creoles, he’s been able to sustain himself with his guitar, raise a family, buy a house. Most other musicians here, he says, aren’t so fortunate. He’s tooling around the streets of Treme — one of the nation’s oldest black neighborhoods and the birthplace of jazz — in his ancient Volvo, pointing out all the gentrified houses, the ones with the jacked up rents. Everybody wants to live here now, he said. New Orleans is enjoying a renaissance 12...
  • Housing and Labor Law

    02/25/2017 11:47:30 AM PST · by rey · 7 replies
    25 Feb 2017
    My former employer is trying to make me pay for repair to labor housing. I was REQUIRED to live on the job site and be on call. When one is required to live in labor housing, it does NOT count as income, either federally or in state law. There also was no lease/tenancy agreement which would suggest it was a landlord tenant arrangement. There was no payment for the home in anyway. My understanding is as the house is essentially part of the work place, labor is not required to pay for rehabing the place(paint, new carpet, flooring, etc.) or...
  • HUD NEEDS FAITH INITIATIVES TO SHRINK POVERTY

    02/24/2017 9:40:02 AM PST · by Sean_Anthony · 8 replies
    Canada Free Press ^ | 02/24/17 | John Anthony
    Programs like Joseph Project, the Miss Mary Project create real sustainable success that can blossom into prosperity and change lives. If HUD will use their vast communications network to support those community efforts, we will shrink poverty Since the 1964 Civil Rights Act was passed, The Department of Housing and Urban Development (HUD) has expanded its mandate to enforce these laws by labeling everything that is not equal, from the educational experience and housing, to the relative wealth of your residential zip code, as discriminatory.
  • Georgetown to students: Stop inviting inauguration protesters to stay on campus

    Tipped off to the students’ plans for the Women’s March by Campus Reform, administrators including Chief of Police Jay Gruber emailed the campus to say they aren’t allowed to “sublease or rent” their campus residences for the inauguration on platforms such as Airbnb.
  • Elizabeth Warren Asked Ben Carson To Promise Trump Won’t Get Money Intended To Help Poor. He Refused

    01/12/2017 12:12:00 PM PST · by SeekAndFind · 74 replies
    Huffington Post ^ | 01/12/2017 | Zach Carter
    During his confirmation hearing Thursday, Ben Carson repeatedly refused to guarantee that money from the Department of Housing and Urban Development would not go to benefit President-elect Donald Trump or his family. “Among the billions of dollars that you will be handing out in grants and loans, can you just assure us that not one dollar will go to benefit either the president-elect or his family?” Sen. Elizabeth Warren (D-Mass.) asked. “I can assure you that the things that I do are driven by a sense of morals and values,” Carson responded. “And therefore I will absolutely not play favorites...