Moral hazard notwithstanding, if the government offered 30-year fixed mortgages, at 4% and assumable to any homeowner, the follow would occur: a) banks would be paid off at 100 cents on the dollar, b) homeowners would have a cheaper monthly note and more disposable income, c) home prices would stabilize, and d) the difference between the old mortgage and the new one would be applied to the borrower’s income taxes over 30 years.
via Seeking Alpha.
Beginning in April, federal law will require contractors [and landlords] performing renovation, repair or painting projects that disturb lead-based paint in homes, child-care facilities or schools built before 1978 to be certified and to follow specific work practices to prevent lead contamination.
via The Daily Reporter.
The most painful aspect of the economic crisis is that the pain is unnecessary. Ordinarily we think of the economy being limited by the supply of available resources, land, labor, and capital.
via The American Prospect.
If you go in search of honey, you must expect to encounter bees.- Thomas Szasz
Who likes not his business, his business likes not him. – William Hazlitt
WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Inspector General Kenneth M. Donohue and Federal Housing Administration (FHA) Commissioner David H. Stevens announced today an initiative focusing on mortgage companies with significant claim rates against the Federal Housing Administration mortgage insurance program.
via U.S. Department of Housing and Urban Development (HUD).
Do you know about the Small Business Administration’s Emerging 200 (e200) initiative? The program identifies 200 inner-city businesses across the country that show high-growth potential, and then gives them the resources and motivation they need to take their businesses to the next level.
For 2010, the e200 program will be offered in the following cities:
(Milwaukee is on the list)
via Small Business Trends.
Some landlords are starting to adjust the amounts they collect from their tenants based on the credit strength of the tenants. Many claim this is discrimination and there are probably some localities either preventing it or limiting it, or they will
via Investing Notes from REAL Investors.