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79%  
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Keyword: housing

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  • Squatters hold California bedroom hostage [Woman cannot remove deadbeats--per California law]

    05/15/2015 6:36:33 AM PDT · by SoFloFreeper · 56 replies
    KPRC-TV ^ | 5/15/15
    Poonam Sandhu rented out the master bedroom of her Watsonville, California home to a couple through Airbnb. Now they refuse to leave or pay rent. Sandhu says she's been forced from her own home by some terrible tenants.
  • Fannie Mae accused of neglecting foreclosed homes in nonwhite communities

    05/13/2015 1:40:44 PM PDT · by Citizen Zed · 24 replies
    Chicago Tribune ^ | 5-13-2015 | Mary Ellen Podmolik
    A national fair housing organization has filed a complaint with the U.S. Department of Housing and Urban Development, charging that Fannie Mae is not properly caring for and marketing foreclosed homes it owns in nonwhite communities. The National Fair Housing Alliance alleges Fannie Mae violated the federal Fair Housing Act in nonwhite, working-class communities in the Chicago area as well as in 33 other metropolitan areas. Nineteen fair housing groups in various cities, including three in the Chicago area, joined the alliance in the complaint against Fannie Mae. "Fannie has more foreclosures in the United States than anybody else," said...
  • Not enough money? Baltimore got $1.8 billion from Obama Stimulus

    05/05/2015 1:40:52 AM PDT · by blueyon · 7 replies
    American Thinker ^ | 5/04/15 | Thomas Lifson
    Last Tuesday, President Obama blamed the GOP-controlled Congress for its failure to fund the “massive investment in urban communities” that could “make a difference.” Well, how does $1.8 billion for the 622,000 people of Baltimore sound? Pretty massive – actually, just about $2900 for every man, woman, child, and baby of the entire City of Baltimore. But that’s the total amount of Obama Stimulus money sent to Charm City, according to an analysis by The Free Beacon:
  • 1 in 4 US renters must use half their pay for housing costs

    05/02/2015 7:18:57 AM PDT · by BJ1 · 13 replies
    Associated Press ^ | 05/01/2015 | JOSH BOAK
    More than one in four U.S. renters have to use at least half their family income to pay for housing and utilities. That's the finding of an analysis of Census data by Enterprise Community Partners, a nonprofit that helps finance affordable housing. The number of such households has jumped 26 percent to 11.25 million since 2007. Since the end of 2010, rental prices have surged at nearly twice the pace of average hourly wages, according to data from the real estate firm Zillow and the Labor Department.
  • Welcome to rent control! 88,000 apply for 55 apartments

    04/21/2015 7:43:24 AM PDT · by SeekAndFind · 18 replies
    American Thinker ^ | 04/21/2015 | NewsMachete
    Eighty-Eight thousand people (so far) have applied for 55 low-rent apartments in a fancy new condominium building on Manhattan's upper west side. The lucky few could get a two bedroom apartment for less than $1100 a month in the West 60's of Manhattan. To get tax breaks, developers of luxury buildings make some units available at below market rent rates, and this is what happened here. But as you can see from the number of applicants, this program will never produce enough low income housing. Rent control is the biggest obstacle to building new affordable housing; that's why nearly...
  • Homeless Millennials Are Transforming Hobo Culture

    04/19/2015 4:40:50 PM PDT · by Libloather · 24 replies
    Newsweek via MSN ^ | 4/19/15 | Betsy Isaacson
    On Reddit, he’s /u/huckstah, an administrator on /r/vagabond, a subreddit with nearly 10,000 members—many of them identify as “homeless”—who trade skills and stories. On “the road and the rails,” he’s Huck, and even after we speak twice by cellphone, he tells me he’d prefer I don’t print his real name. “People say, ‘Well, you chose to become homeless.’ But that’s wrong,” he says. Huck says he’s been a hobo for upward of 11 years and started hopping trains and hitching rides at 18. “I did not choose to become homeless. If you want to say I chose to become homeless...
  • Homebuilders to begin 1,194-home community near Lake Lewisville (DFW area, Texas)

    04/19/2015 5:50:25 PM PDT · by 2ndDivisionVet · 43 replies
    The Dallas Business News ^ | April 8, 2015 | Candace Carlisle
    A group of homebuilders are beginning work on a project slated to bring about 1,194 homes to a 500-acre development along Lake Lewisville in Denton County, which is being developed by Charlotte-based Crescent Communities in partnership with Taylor Duncan Interests. The builders — K Hovnanian Homes, Highland Homes and MHI McGuyer Homebuilders — expect to soon begin construction on the model homes of the community, called Wildridge, with the first models completed by June. The homes will range in price from the $300,000s to the $500,000s. The homes will range from 1,800 square feet to 4,800 square feet of living...
  • Bill Clinton Housing Policy Wrecked Economy, Not the 1%

    04/17/2015 7:29:05 AM PDT · by SeekAndFind · 14 replies
    IBD ^ | 04/17/2015
    With typical gall, Hillary Clinton in her campaign launch lit into "those at the top" for "stacking" the deck against middle-class families when in fact they are buried under the house of cards built by her husband. Earth to Hillary: It wasn't the richest 1% or Wall Street bankers who crashed the economy and created financial wreckage from which working Americans "have fought" to dig themselves out of. No, that path to destruction was set by Bill Clinton and his social housing policies. The evidence is overwhelming that Clinton was the architect of the financial disaster that wiped out trillions...
  • Joe Biden Brags About His Income In Affordable Housing Speech

    04/08/2015 4:44:49 AM PDT · by Biggirl · 7 replies
    Breitbart.com ^ | April 8, 2015 | Breitbart News
    From CNS News: Speaking at the Department of Housing and Urban Development (HUD) in Washington, D.C. on Tuesday about affordable housing, Vice President Joe Biden said home ownership helped him pay for his children’s college education, even if that would not be the case today because of the amount of money he earns.
  • How will 3D printing alter the building industry?

    04/08/2015 1:29:39 AM PDT · by 2ndDivisionVet · 14 replies
    Construction DIVE ^ | April 6, 2015 | Sharon O'Malley
    A Chinese engineering firm that claims it built 10 houses in less than 24 hours last year using a 3D printer has unveiled the world’s tallest “printed” building. The five-story apartment building is on display next to a 1,100-square-foot mansion—also created on a 3D printer—in Suzhou Industrial Park in Jiangsu province. The mansion’s furniture and decorations also were made on a 6.6- by-10-meter tall printer, which uses an "ink" composed of glass fibers, steel, cement, hardening agents, and recycled construction waste to build one layer at a time for builders to assemble. The apartment building took a day to print...
  • United Van Lines Annual National Movers Study Shows Oregon Increases Lead as Top Moving Destination

    04/05/2015 1:01:01 PM PDT · by bgill · 35 replies
    United Van Lines ^ | Jan. 2, 2015 | unknown
    Oregon holds on to its title as “Top Moving Destination” and continues to pull away from the pack, while the Northeast loses residents for the third consecutive year. Those are the key findings from United Van Lines’ 38th Annual National Movers Study, which tracks customers’ migration patterns state-to-state during the course of the past year. The study found that Oregon is the top moving destination of 2014, with 66 percent of moves to and from the state being inbound — that’s a nearly 5 percent increase of inbound moves compared to 2013. Arriving at No. 2 on the list was...
  • Squatter living rent and mortgage free

    04/04/2015 6:16:10 AM PDT · by KeyLargo · 39 replies
    Fox 32 Chicago ^ | Apr 2, 2015 | Craig Wal
    CHICAGO (FOX 32 News) - Tinley Park squatter living rent and mortgage free The problem with squatters is hitting home in an upscale Tinley Park Subdivision. On Mallow Street where homes sell for $350,000 or more, a woman has been living in a house rent and mortgage free for two years. “It's very frustrating, our property taxes are very high, I work nights to pay mine and to help support my family. And I just see her coming and going without a care in the world it's enormously frustrating,” said neighbor Patti Yara. And no one is more frustrated than...
  • ( NYC ) City housing agency faces $98M shortfall

    03/29/2015 10:31:11 AM PDT · by george76 · 16 replies
    Crains - New York ^ | March 27, 2015 | Amanda Fung
    The beleaguered New York City Housing Authority said it faces a $98 million budget gap this year that will grow to $400 million by 2025 ... the "financial model for pubic housing is unsustainable." Meanwhile, the Daily News also reported that NYCHA sold off supplies that were needed for repairs and cleanup at its complexes across the city.
  • NYC councilwoman: It might be ‘beneficial’ to assign public housing by ethnic group

    03/27/2015 9:58:27 PM PDT · by ConservativeStatement · 26 replies
    New York Post ^ | March 27, 2015 | Michael Gartland
    A Brooklyn city councilwoman wants to know why “blocs” of Asians are living in two Fort Greene housing projects — and suggested it would be “beneficial” to assign housing by ethnic group. “How is it that one specific ethnic group has had the opportunity to move into a development in large numbers?” Laurie Cumbo, who is black, said at a council hearing on public housing Thursday
  • Housing prices surging 13 times faster than wages

    03/26/2015 7:24:21 PM PDT · by Lorianne · 19 replies
    Fox News ^ | 26 March 2015
    Video 1:24
  • New Home Sales Data Goes Full Retard With Unbelievable Report Frozen Northeast Saw 153% Surge

    03/24/2015 9:28:30 AM PDT · by SeekAndFind · 17 replies
    Zero Hedge ^ | 03/24/2015 | Tyler Durden
    This is how ridiculous government data has become: in the same month in which both Housing Starts and Existing Home sales significantly missed expectations, misses which were promptly blamed on the weather, the Census Bureau moments ago released a stunner of a New Home Sales number, which supposedly rose from an upward revised 500K to 539K, smashing expectations of 481K, a 25% spike from a year ago and up 7.8% from January, which incidentally is also the highest number since February 2008, even as the median home price dropped to the lowest since September. And a close-up on the...
  • Liberal Policies vs. Affordable Housing

    03/22/2015 10:11:52 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | March 22, 2015 | Steve Chapman
    Julian Castro is a smiling bundle of energy whose past includes being mayor of San Antonio and whose future may include a spot on a national Democratic ticket -- say, as a nicely balanced running mate for a presidential nominee who is a white female from New York. Right now, though, he is secretary of Housing and Urban Development, or what he calls "the Department of Opportunity." As that label suggests, Castro is a staunch believer in the value of government involvement in the housing market. He came to Chicago recently to tout the many ways in which Washington can...
  • Underwater Homeowners "Here To Stay" Zillow Says

    03/21/2015 7:16:01 PM PDT · by Lorianne · 33 replies
    Zero Hedge ^ | 20 March 2015 | Tyler Durden
    A few weeks back we commented on the rather disturbing news that repeat foreclosures jumped in January: (link at source) Now, a new report from Zillow seems to offer further evidence that the US housing market may not be the picture of health after all (as if we needed more proof after housing starts cratered 17% in February). The percentage of homeowners underwater in the US was flat from Q3 to Q4 which doesn’t sound all that terrible until you consider that this figure had fallen for 10 consecutive quarters. Things look particularly bad in Florida and the midwest where...
  • Housing Starts Fall A Dramatic 17% In February

    03/18/2015 10:39:39 AM PDT · by Lorianne · 33 replies
    Forbes ^ | 17 March 2015
    Groundbreakings on new homes dropped by a sharp 17% in February, the U.S. Commerce Department said Tuesday. February’s housing starts fell to a seasonally adjusted, annual rate of 897,000, well below January’s estimate of 1.081 million, though only 3.3% below the pace in February 2014. The numbers missed–by a long shot–the 1.048 million starts economists surveyed by Bloomberg had forecast ahead of the release. Perhaps it’s not surprising, then, that builder confidence in the market for newly constructed, single-family homes dropped by two points in March to a level of 53, according to the latest National Association of Home Builders/Wells...
  • Millions of 'underwater' homeowners are trapped

    03/17/2015 9:38:51 PM PDT · by george76 · 104 replies
    CNBC ^ | 3- 17 -2015 | Diana Olick
    Some 5.4 million homes, or 10.4 percent of all homes with a mortgage, were still in a negative equity position, or "underwater," in the fourth quarter of 2014, according to CoreLogic, as their owners owe more on the mortgage than the home is currently worth. This is down considerably —18.9 percent, from a year ago—but it still keeps these borrowers from putting their homes on the market, because they would lose money. .. Additionally, of the 49.9 million U.S. homes with a mortgage, approximately 10 million (20 percent) have less than 20 percent equity, and 1.4 million have less than...
  • United States set to feel more pain resulting from illegal immigration

    03/10/2015 8:08:01 PM PDT · by 11th_VA · 41 replies
    usfinancepost.com ^ | Mar 10, 2015 | By Melody Dareing
    Illegal immigration has long plagued American craftsman and has far-reaching implications that communities and federal, state and local governments have yet to realize, according to those who have worked in the construction industry. “If you wait 20 years, you’re going to see what happens to all of these houses and buildings,” said Kevin Larsen, a veteran brick mason with 33 years of experience. Larsen left his trade several years ago and now works at a railroad yard. He applauds the federal judge’s Feb. 16 decision to halt President Barack Obama’s executive order that protects as many as five million immigrants...
  • Meet the single mom forced to live in a GARAGE..costs $1,000 per month (Silicon Valley) [Edited]

    03/04/2015 12:05:22 PM PST · by C19fan · 52 replies
    UK Daily Mail ^ | March 4, 2015 | Sadie Whitelocks
    A single mother living in Silicon Valley has told how she's been forced to move into a single garage measuring around 250-square-feet as rent continues to skyrocket. Nicole Jones now pays $1,000 per month - around one-fourth of the average San Francisco rent - to live in the tiny space with her 18-month-old daughter and she also has a son on the way. The converted home in suburban San Mateo includes a central space which is utilized as a living room, kitchen, bedroom and dining room. In the back, there is a toilet and stand-up shower. 'There's no playing sports...
  • U.S. Rent affordability will deteriorate over next two years: Zillow CEO

    02/24/2015 10:47:21 AM PST · by SeekAndFind · 27 replies
    Yahoo Finance ^ | 02/24/2015 | Nicole Goodkind
    A new report from Zillow shows that rents across the U.S. are increasing, and not just in the expected regions of New York City, San Francisco and Boston. Overall, rents increased 3.3% year-over-year as of January. But many cities outpaced that, including Kansas City, which saw rent grow more than double the national average, jumping 8.5% year-over-year. St. Louis saw rent increase by 4.5% over the same period. Rents in Detroit grew by 5.0% and rents in Cleveland grew by 4.2%. Nationwide, rental appreciation is still below its peak - 6.3% hit in September 2012 after the housing bust. According...
  • Houses hot off the 3D printer

    02/14/2015 4:46:48 PM PST · by 2ndDivisionVet · 12 replies
    Yahoo! Homes ^ | February 11, 2015 | Ilyce R. Glink
    Robotic building by Contour Crafting won the grand prize in a NASA magazine's Create the Future contest.In the not-too-distant future, building a new home may be as simple as printing it out. The process of wielding 3D printers to make homes is in its infancy today, but someday soon you may look out your window at a large-scale printer, swiftly spitting out a whole home under the instruction of just one operator. "Generally, they'll be much cheaper, much faster, much safer and with much nicer architectural features [than traditional homes]," says Dr. Behrokh Khoshnevis, creator of and lead researcher for...
  • Foreclosures skyrocket, jump 100 percent in Phoenix, Arizona

    02/12/2015 9:12:47 AM PST · by george76 · 30 replies
    Phoenix Business Journal ^ | Feb 11, 2015 | Mike Sunnucks
    There were more than 2,300 homes and condos in the foreclosure process last month. That is up 104 percent from December. Statewide that increase is 109 percent from January 2014. The jump in foreclosures comes as the Phoenix housing market tries to shake off a slow 2014 where low demand for homes and tough mortgage qualifications stymied sales. Foreclosure activity was also up in states such as Ohio, New Jersey, Maryland and California and metropolitan areas such as St. Louis, Los Angeles and San Francisco. The worst cities for foreclosures include Atlantic City, Las Vegas and eight Florida markets including...
  • Study: Poor Boys Are More Likely to Fight, Lie, and Steal If They Live in Mixed-Income Housing

    01/26/2015 10:15:40 AM PST · by reaganaut1 · 45 replies
    The New Republic ^ | January 22, 2015 | Alice Robb
    Local governments are increasingly promoting mixed-income housing as a tool for fighting poverty, on the assumption that economic integration gives low-income children a better chance at overcoming poverty. New York City Mayor Bill De Blasio, for instance, has set a target of building 200,000 affordable housing units in the city, and he wants them to be distributed throughout mixed-income and more affluent neighborhoods. “Our goal is really to foster more economically diverse neighborhoods,” Alicia Glen, Deputy Mayor for Housing and Economic Development, told the New York Times. These programs rest on the assumption that mixed-income communities benefit low-income residents. Poorer...
  • Government Housing is a Bad Idea

    01/26/2015 4:32:35 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | January 26, 2015 | Star Parker
    This past week, following the nation’s celebration of the birthday of civil rights leader Dr. Martin Luther King, Jr., the U.S. Supreme Court heard an important case related to landmark law enacted during the civil rights era – the Fair Housing Law of 1968. This case highlights how some policies that followed civil rights era legislation – in this case government low-income housing projects – actually have hurt the very communities they were supposed to help. The Court heard arguments in the case Texas Department of Housing and Community Affairs v The Inclusive Communities Project, a non-profit defining itself as...
  • We Did The Math: Should You Buy Or Rent In These Major Cities?

    01/12/2015 8:45:57 AM PST · by SeekAndFind · 50 replies
    Business Insider ^ | 01/15/2015
    When you buy a home, a lot of the money you spend isn't going toward your home equity. The cost of homeownership includes the money you spend on fees, taxes, and interest. These costs do not increase the value of your home nor do they reduce the principal on your mortgage. We did some analysis on the cost of homeownership versus the cost of renting. Rental costs are offset by the interest you make on the cash you did not have to put toward a down payment. Homeownership costs are offset by the tax deduction you get on your mortgage...
  • Many Landlords Won't Take Section 8

    01/10/2015 1:06:08 PM PST · by 2ndDivisionVet · 164 replies
    WROC-TV ^ | December 8, 2014 | Rachel Barnhart
    (VIDEO-AT-LINK)Rochester, NY (WROC) - LaTanya Daughtry needs a new place to live. The single mother of two boys is on disability and gets a Section 8 housing voucher. But many online classifieds ads say "No Section 8." "It just makes me feel people look at me differently because I'm on Section 8," Daughtry said. "A lot of ads say no Section 8 right off the bat." Section 8 is a federal housing program run through the Rochester Housing Authority. Recipients pay a portion of the rent and Section 8 pays the rest. Section 8 vouchers are in short supply. In...
  • Home Prices See Biggest Monthly Drop Since Polar Vortex As Case-Shiller Declines For Second Month

    12/30/2014 7:55:26 AM PST · by SeekAndFind · 4 replies
    Zero Hedge ^ | 12/30/2014 | Tyler Durden
    Case-Shiller's 20-city home price index dropped 0.1% MoM in October (on an unadjusted basis) - the second monthly drop in a row and biggest drop since the Polar Vortex. Year-over-year, home prices rose 4.5% - the weakest growth since October 2012. While this modestly beat expectations (+4.5% vs +4.4% exp.), it is the 11th month in a row of growth deceleration. Also of note: the Top 20 Composite index is now down for the second month in a row, dropping to 173.36. The question now is whether the downside momentum will pick up.Worst annual gain since Oct 2012 and...
  • Feds release anti-rape rules for illegal immigrant children housing

    12/19/2014 1:13:55 PM PST · by Zakeet · 13 replies
    Washington Times ^ | December 19, 2014 | Stephan Dinan
    Say transgender kids should choose which sex to live with Health and Human Services released long overdue guidelines Friday ordering facilities that house illegal immigrant children to set up sexual abuse prevention programs, and to be prepared to deal with tricky cases such as transgender or intersex children. The rules, which congressional Democrats had demanded earlier this week, govern everything from pat-downs to evaluating each child for their likely risk of being targeted for sexual abuse or harassment, and govern how the children should be housed while at the private facilities, which operate under a government contract.
  • How Many Homeowners Have Paid Off Their Mortgages?

    12/11/2014 7:21:10 PM PST · by SeekAndFind · 63 replies
    Five Thirty Eight ^ | 12/11/2014 | Mona Chalabi
    Dear Mona,It seems like homeownership is a common data filter in the social sciences. But nearly everyone I know who “owns a home” is paying a mortgage. How many “homeowners” have actually paid off their houses?John, 34, Mount Vernon, Washington Dear John,Your question is an important one, not only because home ownership can have big consequences for the economy, but because 56 percent of all the housing units in America (that includes trailers, apartments and houses) are owned by the people who live in them.According to last year’s American Community Survey, one in three of those owner-occupied housing units doesn’t...
  • Here's The Salary You Have To Earn To Buy A Home In 15 Major US Cities

    12/09/2014 7:05:16 PM PST · by SeekAndFind · 24 replies
    Business Insider ^ | 12/09/2014 | Libby Kane
    Mortgage website HSH.com has updated its estimate of how much annual income a household would need to buy a home in major cities in the US according to Q3 data. The site looked at median home prices from the National Association of Realtors, along with interest rates for common 30-year, fixed-rate mortgages and property taxes and insurance costs, to figure out how much money it would take to pay a median-priced home's mortgage principal, taxes, and insurance — and how much you would have to earn to afford it. 15. Detroit Population: 921,147 Median Home Price: $151,500 Monthly Mortgage Payment:...
  • American CEOs on the Economy : Softness, Stagnant, Cautious, Challenging

    11/24/2014 7:08:59 AM PST · by GilGil · 8 replies
    Zerohedge ^ | 11/23/2014 | Tyler Durden
    Since May, CEO confidence among America's largest companies had stagnated - even as stocks did what they do and rise, rise, rise. That changed when Bullard (now explained as "misunderstood" by the market) set fire to stocks with his QE4 hints and Plunge Protection Team rescue. However, the last 2 weeks have seen a noticable collapse once again in CEO confidence, according to Bloomberg's Orange Book index, even as stocks reach new higher all-time-er highs. As Bloomberg's Rich Yamarone notes, recent earnings calls highlight the headwinds companies face: Executives cite “softness in consumer spending,” a “challenging” climate, “fairly stagnant economy,”...
  • Creating Welcoming Communities and Fully Integrating Immigrants and Refugees

    11/21/2014 3:19:58 PM PST · by Oldeconomybuyer · 33 replies
    The White House ^ | November 21, 2014 | Barack Hussein Obama
    MEMORANDUM FOR THE HEADS OF EXECUTIVE DEPARTMENTS AND AGENCIES SUBJECT: Creating Welcoming Communities and Fully Integrating Immigrants and Refugees Our country has long been a beacon of hope and opportunity for people from around the world. Nearly 40 million foreign-born residents nationwide contribute to their communities every day, including 3 million refugees who have resettled here since 1975. These new Americans significantly improve our economy. They make up 13 percent of the population, but are over 16 percent of the labor force and start 28 percent of all new businesses. Moreover, immigrants or their children have founded more than 40...
  • Here’s why Somali Muslim Refugees are moving to Cheyenne, Wyoming, Prepare to be shocked

    11/17/2014 7:00:38 PM PST · by george76 · 159 replies
    Pamela Geller, Atlas Shrugs ^ | November 17, 2014 | Pamela Geller
    They are going there to get subsidized Section 8 housing vouchers to take to another state. Refugee resettlement is a euphemism for importing whole Muslim communities, importing jihad. I have long documented the targeting of gateway cities (smaller cities) overwhelmed with Muslim refugee immigration from countries like Somalia — cities like Emporia, Kansas, Nashville, Greeley and Fort Morgan, Colorado, Lewiston, Maine et al. The over-saturation and drain on city resources has driven these immigrants northward to settle in Wyoming, according to these reports. Organizations like Lutheran Family Services profit enormously from the Federal government handling these refugees. The sharia compliant...
  • Feds Turn to Housing Market to Boost Slow Recovery

    11/13/2014 7:47:22 AM PST · by Beowulf9 · 14 replies
    FreeBeacon.com ^ | November 13, 2014 | Daniel Wiser
    Federal regulators are attempting to lower credit and lending standards for home mortgage loans during a time when there is little demand for housing, some experts say, a move that could create another destabilizing bubble if the economy improves.
  • Underwriting the Next Housing Crisis

    11/02/2014 1:27:31 PM PST · by reaganaut1 · 30 replies
    New York Times ^ | October 31, 2014 | PETER J. WALLISON
    WASHINGTON — SEVEN years after the housing bubble burst, federal regulators backed away this month from the tougher mortgage-underwriting standards that the Dodd-Frank Act of 2010 had directed them to develop. New standards were supposed to raise the quality of the “prime” mortgages that get packaged and sold to investors; instead, they will have the opposite effect. Responding to the law, federal regulators proposed tough new standards in 2011, but after bipartisan outcries from Congress and fierce lobbying by interested parties, including community activists, the Obama administration and the real estate and banking industries — all eager to increase home...
  • Making It Easy to Predict the Next Financial Crisis

    10/30/2014 2:57:56 PM PDT · by Sean_Anthony · 5 replies
    Canada Free Press ^ | 10/30/14 | Alan Caruba
    Republicans are the adults in Congress while the Democrats, liberal to the core, will never admit we are being set up for another financial crisis It is a cliché, but true, that history repeats itself. This is largely due to the failure of each new generation to learn anything from the past as well as the human tendency toward the bad habits of greed and power-seeking. Only the names and faces change. That is why the next financial crisis is entirely predictable. On October 23, The Wall Street Journal had an article, “Relaxed Mortgage-Lending Rules Clear Final Hurdle.” The financial...
  • Why Americans Can't Afford to Live in Liberal Cities

    10/29/2014 9:31:04 AM PDT · by Pan_Yan · 15 replies
    The Atlantic via Yahoo! Finance ^ | October 29, 2014 | Derek Thompson
    ... But there's a second reason why San Francisco's problem is emblematic of a national story. Liberal cities seem to have the worst affordability crises, according to Trulia chief economist Jed Kolko. In a recent article, Kolko divided the largest cities into 32 “red" metros where Romney got more votes than Obama in 2012 (e.g. Houston), 40 “light-blue” markets where Obama won by fewer than 20 points (e.g. Austin), and 28 “dark-blue” metros where Obama won by more than 20 points (e.g. LA, SF, NYC). Although all three housing groups faced similar declines in the recession and similar bounce-backs in...
  • California Leads Housing Slowdown As Case-Shiller Home Prices Decline For 4 Months In A Row

    10/28/2014 9:36:47 AM PDT · by SeekAndFind · 14 replies
    Zero Hedge ^ | 10/28/2014 | Tyler Durden
    Following misses in yesterday's Markit Service PMI, Existing Home Sales and the Dallas Fed report, and today's Durable Goods numbers, we just made it a pentafecta for misses in US econ data, when the just released August Case-Shiller data for August confirmed once again that US housing is rapidly slowing down, when the Top 20 Composite Index (Seasonally Adjusted) posted another decline in August, its fourth in a row, declining by -0.15% and missing expectations of a modest 0.2% rebound (following last month's -0.5%) decline. The best summary of the situation came from S&P's David Blitzer: "The deceleration in...
  • US Homeownership Rate Drops To 1983 Levels: Here's Why

    10/28/2014 9:32:40 AM PDT · by SeekAndFind · 13 replies
    Zero Hedge ^ | 10/28/2014 | Tyler Durden
    The last time US homeownership declined down to 64.4% (which the Census Bureau just reported is what US homeownership declined to from 64.7% in Q2), was back in the fourth quarter of 1983. It goes without saying that this is about the bearishest news possible for those few who still believe in the American homewonership dream. Of course, those who have been following real-time rental market trends would be all too aware there is no rebound coming to the homeownership rate. The reason is simple: increasingly fewer can afford to buy, instead having no choice but to rent, which...
  • Should Obamacare Help Pay for Housing? (Here it comes...)

    10/27/2014 11:54:32 AM PDT · by 2ndDivisionVet · 60 replies
    The Atlantic ^ | October 27, 2014 | Alana Semuels
    Since January 1 of this year, James Barnes has had pretty decent health care. He gets insulin for his diabetes and the needles to inject it, blood pressure medication, access to a psychiatrist and counselor and optometrist, and frequent visits to the doctor, all for free. Barnes lives in Maryland, one of the dozens of states that expanded Medicaid to people with incomes at or below 138 percent of the poverty level as part of the Affordable Care Act. For Barnes and thousands like him, that expansion has meant access to services like physical therapy, mental-health treatment, x-rays, dialysis, hospice...
  • September Existing-Home Sales Hit Fastest Pace Of 2014

    10/21/2014 9:09:09 AM PDT · by ConservingFreedom · 1 replies
    Forbes ^ | 10/21/2014 | Erin Carlyle
    Sales of previously-owned homes rose in September to reach their fastest pace in 2014, even though investors are leaving the market. That’s good news for regular people, who are enjoying low mortgage rates and decreased competition for homes. Sales of existing-homes rose 2.4% in September to a seasonally adjusted annual rate of 5.17 million, according to National Association of Realtors data released Tuesday. Though at their highest pace of 2014, sales remain 1.7% down from a year earlier, when the pace stood at 5.26 million. “Low interest rates and price gains holding steady led to September’s healthy increase, even with...
  • New York Dominates 2014 List of America's Most Expensive ZIP Codes

    10/18/2014 8:42:06 PM PDT · by 2ndDivisionVet · 9 replies
    Forbes Magazine's Life Blog ^ | October 8, 2014 | Erin Carlyle
    In Atherton, Calif., 94027, the most expensive home currently on the market is a 12,840-square-foot Mediterranean mansion with a $21.988 million price tag. Not a millionaire? Good luck finding a place to live in this Silicon Valley enclave. The least expensive home for sale in the 94027 ZIP code is a 1,370-square-foot, two-bedroom, two-bath bungalow. In other words, a starter home–with an asking price of $1.499 million. The median price of the 24 homes listed for sale over the summer was $9.03 million, making Atherton the most expensive ZIP code in America for the second year in a row. “Atherton...
  • How to Steal Things, Exploit People, and Avoid All Responsibility (Reparations, again)

    10/06/2014 11:07:14 PM PDT · by 2ndDivisionVet · 22 replies
    The Atlantic ^ | October 5, 2014 | Ta-Nehisi Coates, senior editor
    I started this narrative bibliography for "The Case for Reparations" back in June, but, regrettably, I didn't finish the final section before I left for the summer. Some time has passed but I think it is very important that, as much as possible, I complete this public acknowledgement of all the previous work that contributed to my own. As I've written, the process began with the understanding that racism was a "done thing" and not an irrepressible clash between people of different hues. Another way of putting this is to say white supremacy is not an invention of white people;...
  • House and Home

    10/04/2014 4:42:30 AM PDT · by Kaslin · 9 replies
    Townhall.com ^ | October 4, 2014 | Paul Greenberg
    It's an old saying: First we shape our buildings, then they shape us. But like many old sayings, it may be more pat than true. It may sound like a great tribute to the power and influence of architecture in our lives, but it's too neat. It sounds too much like an insight to be one. Which explains why it's become more a cliche than an observation. Because the power of architecture surely depends on the power of the architect -- and our own power to accept or reject it, or adapt it to our own idea of what constitutes...
  • Attn Freeper Homeowners: Poll How long did it take you to find the perfect house?

    09/29/2014 8:39:21 PM PDT · by Califreak · 93 replies
    Frustrated Homeseeker ^ | September 30, 2014 | califreak
    Our family just started looking for a home to purchase. Just curious.... How long did it take you to find the perfect house? Our lender took two years. We are finding something wrong with all of them.
  • Mortgage Originations Are Down by 60-70% Year-Over-Year… But Everything’s Okay

    09/23/2014 6:04:46 PM PDT · by Lorianne · 11 replies
    Mandelman Matters ^ | 24 September 2014 | Martin Mandelman
    Mortgage originations for the first quarter of this year fell off a cliff. JPMorgan reported a decline of 71 percent, as I recall, and I think Citibank reported a drop of 66 percent. Now, the second quarter’s bloodletting has come in and the numbers are about the same… down more than 60 percent year-over-year, if memory serves and it often does. Even credit unions went straight into the tank this year, originating an annualized $42.6 billion in real estate loans in the first quarter, down from $102.9 billion in the first quarter of 2013, according to an Nation Credit Union...
  • Report: Border Patrol homes cost $680,000 each

    09/12/2014 11:02:36 AM PDT · by upbeat5 · 21 replies
    The Associated Press via Cableone.net ^ | September 12, 2014 | Astrid Galvan
    TUCSON, Ariz. (AP) — The federal government wasted millions of dollars in building a housing project for Border Patrol agents in Arizona near the Mexican border, spending nearly $700,000 per house in a small town where the average home costs less than $90,000, a watchdog report found. The analysis by the Department of Homeland Security's inspector general found that U.S. Customs and Border Protection overspent by about $4.6 million on new houses and mobile homes in the small town of Ajo southwest of Phoenix. The agency has spent about $17 million for land, 21 two- and three-bedroom houses and 20...