User: demo Topic: Housing
Category: Foreclosure Impacts on Renters
Last updated: Apr 16 2018 15:33 IST RSS 2.0
 
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Why America Needs More Social Housing 16.4.2018 American Prospect
This article appears in the Spring 2018 issue of The American Prospect magazine.  Subscribe here .  The quest to provide what has come to be called “affordable housing” in America is hobbled by one fundamental reality. Too much housing is in the market sector and too little is in a social sector permanently protected from rising prices. The result is that supply and demand relentlessly bids up market prices. Government is required to provide deeper and deeper subsidies to keep rents within the bounds of incomes, so fewer and fewer people get any kind of help. This is true whether the form of public subsidy is tax breaks, direct subsidies, vouchers, or deals with developers to set aside some percent of units as affordable. In most cities, the median rent far exceeds what median incomes can afford. In cities with hot housing markets, homeownership is even further beyond reach for those who do not already own homes, exacerbating competition for scarce apartments. The idea of having a permanent sector of ...
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San Diego pays $7 million for indoor-skydiving center that the county just valued at $6 million 16.3.2018 LA Times: Commentary

One month after San Diego Mayor Kevin Faulconer agreed to buy a defunct indoor-skydiving property downtown for $7 million without the benefit of a current appraisal, county assessors have completed a new valuation of the two parcels, placing the value at $6 million.

San Diego County officials completed...

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An Economic Bill of Rights for the 21st Century 5.3.2018 American Prospect
Economic mobility has drastically declined since the 1940s. Unemployment and underemployment are persistent problems, especially for stigmatized groups who are subject to discriminatory exclusion from employment opportunities. In today’s economy, the American dream is just a dream, or worse, a rhetorical device that draws attention away from the economic reality playing out across the country. Despite long-term growth in the nation’s Gross Domestic Product, in real terms middle-income Americans have less than they did 40 years ago . Poverty, especially amongst the most vulnerable in our society—our children—persists at unjust levels. Despite President Lyndon B. Johnson’s War on Poverty, declared more than 50 years ago, 43.1 million Americans remain in poverty , nearly 20 million of whom live in deep poverty . There’s no question that past policies intended to reduce poverty and inequality have fallen tragically short . It’s time to think big. The rules that govern our economy are working best for far too ...
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Jump in late mortgages after Harvey sparks foreclosure fears 27.1.2018 AP Business
FRIENDSWOOD, Texas (AP) -- As Jacob Lerma surveyed the skeletal beams of his suburban Houston home that was flooded during Hurricane Harvey, he kept muttering three words as he wondered if his family would ever be able to move back in: "I don't know."...
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California's real estate gold rush is even boosting Stockton, but at what price? 30.12.2017 LA Times: Commentary

Not long ago, the Delta city of Stockton was drowning in bad news.

It went bankrupt. It led the nation in foreclosures during the housing crash. It found itself on a list of the most miserable places to live in America. It was too far from job centers. The crime rate was high and a former mayor...

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Does your city rank high or low when it comes to evictions? 28.12.2017 Washington Post
Does your city rank high or low when it comes to evictions?
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Imagine a mortgage loan that only gets more expensive, even if you make payments on time 26.11.2017 LA Times: Commentary

The eviction squads arrive in convoys, whisking attorneys, police officers, bank agents and teams of movers through the gates of the Cañadas del Florido housing development.

They eject the residents, seal the front doors with bricks and post signs warning against break-ins. Abandoned units blight...

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Polygamous sect slowly losing control over remote Utah town 4.11.2017 AP National
HILDALE, Utah (AP) -- In a place where political contests are virtually unknown, the campaign signs offer the latest hint that a polygamous group is losing its grip on this remote red rock community straddling the Utah-Arizona border....
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Power of polygamous group wanes in tiny town among red rocks 3.11.2017 AP National
HILDALE, Utah (AP) -- In a place where political contests are virtually unknown, the campaign signs offer the latest hint that a polygamous group is losing its grip on this remote red rock community straddling the Utah-Arizona border....
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How the Bankruptcy System Is Failing Black Americans 28.9.2017 Mother Jones
This story originally appeared on ProPublica and was co-published with the Atlantic. Novasha Miller pushed through the revolving doors of the black glass tower on Jefferson Avenue last December and felt a rush of déjà vu. The building, conspicuous in Memphis’ modest skyline along the Mississippi River, looms over its neighbors. Then she remembered: Years ago, as a teenager, she’d […]
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Inside an eccentric mogul’s quest to save D.C.’s most distinctive buildings 14.9.2017 Washington Post
Inside an eccentric mogul’s quest to save D.C.’s most distinctive buildings
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Senate panel approves 2 key banking regulators 8.9.2017 Seattle Times: Nation & World

A Senate committee Thursday approved two of President Donald Trump’s choices for key financial regulatory posts, including one for the short-handed Federal Reserve board, despite concerns from Democrats that the nominees were too close to the industry.
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Senate committee approves two key banking regulators, including one for short-handed Fed 7.9.2017 LA Times: Business

A Senate committee on Thursday approved two of President Trump’s choices for key financial regulatory posts, including one for the short-handed Federal Reserve board, despite concerns from Democrats that the nominees were too close to the industry.

Investment fund manager Randal Quarles has been...

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66 cats, 1 dog rescued from a foreclosed Pennsylvania home 18.8.2017 Seattle Times: Nation & World

SNYDERSVILLE, Pa. (AP) — A group of volunteers rescued more than 60 animals from the same home where humane officials found 122 cats two years ago. Volunteers from Camp Papillion animal shelter and the Animal Welfare Society of Monroe took 66 cats and one dog from the home. The Pocono Record reports (http://bit.ly/2w8zr3V ) the […]
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N Carolina speaker blames lawyers’ zeal for legal aid cuts 11.8.2017 Seattle Times: Nation & World

RALEIGH, N.C. (AP) — North Carolina’s House speaker wouldn’t say at first why the Republican-led General Assembly cut much of the state funding legal aid groups use to help low-income clients facing evictions and other legal trouble in civil court. The $1.6 million cut in the final state budget in June was approved with little […]
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Major rental-home companies to merge as U.S. house prices recover 11.8.2017 Seattle Times: Business & Technology

The acquisition of foreclosed homes has slowed in recent years as real estate prices have recovered in many markets that were a focus of big rental-home companies. Lately, there has been a wave of consolidation in the business.
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Business News Roundup, Aug. 11 11.8.2017 SFGate: Business & Technology
Wells Fargo Chairman Stephen Sanger will probably step down before the company’s next shareholder meeting early next year as part of a shakeup of the board of directors, the Wall Street Journal reported, citing people familiar with the matter. Wells Fargo said last week that the board is reviewing its own “structure, composition and practices,” which will lead to actions that will be announced by the end of September. Calls for changes on the board intensified last month after the bank said 500,000 clients might have unwittingly paid for protection against vehicle loss or damage while making monthly loan payments, even though many drivers already had their own insurance policies. The disclosure follows a scandal last year in which the company acknowledged that it may have opened millions of unauthorized deposit and credit-card accounts. Ryan Graves told staff in an email Thursday that he will move out of his role as senior vice president of global operations in mid-September. Consumer Reports is ...
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Single-family rental rivals Invitation Homes and Starwood Waypoint Homes to merge 10.8.2017 LA Times: Business

Invitation Homes and Starwood Waypoint Homes — two of the nation’s largest owners of single-family rental houses — announced Thursday they are merging, creating a behemoth rental company as the country’s home ownership rate remains depressed.

The deal comes as home prices have risen across the...

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Racked by her bad credit history, mom wonders whether to buy home in 17-year-old son's name 9.8.2017 Washington Post
Racked by her bad credit history, mom wonders whether to buy home in 17-year-old son's name
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Freddie Mac may help fill need for affordable rental homes 29.7.2017 Seattle Times: Business & Technology

Finance company Freddie Mac plans to provide tens of millions of dollars in financing or loan guarantees to smaller firms that buy single-family homes and operate them as what it considers affordable-housing rentals.
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