Meanwhile, banks are issuing new guidelines to real estate agents, requiring them to give priority to local governments using federal funds to buy bank-owned homes. Some banks essentially have told agents not to consider offers from investors until everyone else has had a shot.
Apr 28
Many economists and analysts would agree that the mortgage market meltdown, housing bubble and global financial crisis resulted from the political obsession in America to increase homeownership with easy credit and government housing policies. Even the House of Representative’s Committee on Oversight and Government Reform concluded last summer that:
The housing bubble that burst in 2007 and led to a financial crisis can be traced back to federal government intervention in the U.S. housing market intended to help provide homeownership opportunities for more Americans.
via Seeking Alpha.
Apr 28
Apr 27
The gap between the cost of renting a modest apartment and the wages of working families continues to widen, according to a new report from the National Low Income Housing Coalition.
“Out of Reach 2010″ paints a gloomy picture for the nation’s nearly 38 million renters, who make up a third of U.S. households.
via RISMedia.
Apr 27
The current $8,000 first time home buyer and $6,500 repeat home buyer tax credits expire for most Americans in four days, but for qualified service members, the tax credit will be extended until April 30, 2011.
via Read more.
Apr 27
Its the latest group of people no longer desired in our neighborhoods or cities, no longer thought of as valuable or viable because they “are not a good fit” or because they will scare the kids or drive down real estate prices — the sick and the elderly.
via StarTribune.com
[It is alarming how often zoning and inspection is used by the public and those they elect to further discriminatory agendas].
Apr 27
Apr 27
