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The Washington Post , Wednesday, August 27, 2014
(RECAP: Immigrants fared far better than the U.S.-born population when it came to holding onto their homes or buying new ones after the housing market tanked, according to recent studies that parsed U.S. Census data. While overall homeownership rates declined after the housing bust, rates increased among immigrants, challenging the assertion that immigrants were hit disproportionately by the housing crisis. The studies come at a time of deep interest in the housing decisions of immigrants, who are expected to account for more than a third of the overall increase in the number of homeowners during the decade that ends in 2020.)
NCSHA, Wednesday, August 27, 2014
(RECAP: On August 25, the National Low Income Housing Coalition (NLIHC) released the latest issue of its periodical, Housing Spotlight. This issue, titled The Affordable Rental Housing Gap Persists, summarizes the findings of a report NLIHC recently published on the availability of affordable rental housing for lower-income households and focuses on the gap between the number of households in specific income groups and the number of rental homes that are both affordable and available to them. The report yielded seven key findings.)
The New York Times, Tuesday, August 26, 2014
(RECAP: There was some glumness in the latest news on housing prices. There shouldn’t be. Slower home price rises — and in some markets, outright declines — are a sign the housing market is starting to move past the boom-and-bust cycle of the last dozen years toward a market where sensible prices driven by local economic conditions prevail.)
HousingWire, Tuesday, August 26, 2014
(RECAP: Four years have now passed since Dodd-Frank was enacted and it's fair to ask if Wall Street Reform has been a success or failure. The general complaints regarding Dodd-Frank can be broken down this way: The legislation is too complex and too inflexible so the result is fewer mortgages and a weaker housing market than might otherwise be the case. If the goal of Dodd-Frank was to decrease regulation and stimulate economic growth, then probably it has failed. But that was not the goal of the legislation; the goal was in fact more regulation to protect the economy from risk — not surprising given the financial crisis in which the law was conceived.)
HousingWire, Sunday, August 24, 2014
(RECAP: AEI’s International Center on Housing Risk co-directors Edward Pinto and Stephen Oliner say there continues to be little discernible volume impact from the QM regulations on the share of loans with debt-to-income ratios greater than 43%, but they point to a number of worrying trends. More troubling is the push for more subprime lending, Pinto says.)
Insurance News Net, Sunday, August 24, 2014
(RECAP: Jerry and Inez Baldwin had been counting on getting a small sum of money from the settlement of a class-action lawsuit involving toxic Chinese-made drywall. The proceeds would amount to nowhere near the $180,000 that the Williamsburg couple lost after fleeing their contaminated home in June 2013, but it was the only money related to the defective wallboard that was set to come their way. Now, though, mortgage giant Fannie Mae has staked a claim to their money -- and that of nine other Virginia families. A Fannie Mae spokeswoman said the company would not comment on why it believes it is entitled to the settlement money.)
Realty Today , Friday, August 22, 2014
(RECAP: American singles in their late twenties and early thirties believe that buying a home is a huge step towards securing their financial future, a new survey found. The study, conducted by Century 21 Real Estate, found that about 75 percent or three quarters of the respondents said that homeownership was of extreme importance to them. Last year, the Census Bureau said that about 33 million Americans now live alone. Single buyers make up more than a quarter of the total homebuyers market, according to the National Association of Realtors.)
The Wall Street Journal , Thursday, August 21, 2014
(RECAP: The Federal Reserve is on track to end its historic bond-buying program in October, but that won’t mean the disappearance of a central banking tool that proved controversial inside and outside the institution. Though deeply divisive on Wall Street and in Congress and academia, many top Fed officials believe their bond buying helped stabilize markets during the crisis and support economic growth afterward. Fed Chairwoman Janet Yellen recently told a congressional committee she wouldn’t rule out more bond buying in the future.)
Affordable Housing Finance, Thursday, August 21, 2014
(RECAP: The Treasury Department has guaranteed $325 million in bonds to support community and economic development projects in low-income neighborhoods across the country. Affordable housing deals are among the early projects being funded under the new Community Development Financial Institutions (CDFI) Bond Guarantee Program. Eligible CDFIs and qualified issuers in the inaugural round include the Local Initiatives Support Corp. (LISC) and Enterprise Community Loan Fund, each of which will receive $50 million through two bonds. Enterprise has committed more than $10.5 million of its bond proceeds to two projects. The first preserves the affordability of 252 homes in Hampton, Va.)
HousingWire, Thursday, August 21, 2014
(RECAP: The housing tax credit should be raised 50%, a balance must be struck between an affordable housing policy and restricting mortgage availability to qualified borrowers, and the GSE status quo cannot hold. Those were some of the high points and recommendations from panel discussions at the Bipartisan Policy Center Housing Commission’s regional forum held Sun Valley, Idaho. Housing leaders, including Assistant HUD Secretary and FHA Commissioner Carol Galante; Republican Sens. Mike Crapo and James Risch; former Sens. Mel Martinez and Kit Bond, and former Clinton administration HUD Secretary Henry Cisneros, led the discussion on regional housing issues as well as housing finance reform, community lending and the role of small banks and innovations in rural housing.)
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