by iwd Tina | Jun 21, 2011 | Housing News
As part of the Patrick-Murray Administration’s Massachusetts Recovery Plan to secure the state’s economic future, Governor Deval Patrick and Lieutenant Governor Timothy Murray were in New Bedford today to announce that the state will invest $153.9 million in resources leveraged from various affordable housing programs, American Recovery and Reinvestment Act funds, and private investment to support 26 projects in 17 communities across the state. When completed, those projects will create or preserve 1,305 rental homes, 1,147 of which will be affordable to low-and moderate-income working families and individuals, including 144 units set aside for families transitioning to permanent housing from homelessness.
Please click here for the full press release.
by iwd Tina | Jun 21, 2011 | Housing News
(Chicago, IL) — An innovative partnership to finance the preservation of federally-subsidized rental housing in underserved markets brings together major financial institutions, philanthropy, and the federal government.
The John D. and Catherine T. MacArthur Foundation, which is providing a $20 million guaranty in connection with this new effort, aims to attract $100 million for non-profit developers working to preserve and renovate approximately 20 rental properties nationwide serving more than 2,000 low-income residents. Projects already slated to move ahead include renovations of affordable rental housing for low-income families and seniors in Minneapolis, Oklahoma City, Omaha, and Toledo.
Please click here to read the full press release.
by iwd Tina | Jun 21, 2011 | Housing News
Washington, DC — The Federal Housing Finance Agency (FHFA) has sent a proposed rule to the Federal Register establishing new housing goals for Fannie Mae and Freddie Mac (the Enterprises). The Housing and Economic Recovery Act of 2008 (HERA) gave FHFA authority for establishing housing goals for the Enterprises. Previously the Department of Housing and Urban Development (HUD) set the Enterprises’ housing goals.
For 2010 and 2011, FHFA is proposing levels for three single-family home purchase goals: low-income families, very low-income families, and families in low-income/high minority/disaster areas. The proposed rule also contains goals for single-family refinance mortgages for low-income families. These are the goal categories established in HERA. The home purchase and refinance goals are all expressed as minimum goal-qualifying shares of each type of mortgage purchased by the Enterprises.
Please click here for the full press release.
by iwd Tina | Jun 21, 2011 | Housing News
Despite the emphasis on homeownership and the marginalization of renters, renter households still make up fully one-third of the households in the United States — almost 38 million households. Out of Reach is a side-by-side comparison of wages and rents in every county, Metropolitan Area (MSAs/HMFAs), combined nonmetropolitan area and state in the United States.
Please click here to view the study’s findings.
by iwd Tina | Jun 21, 2011 | Housing News
Sales of single-family homes and condominiums in Massachusetts surged by double-digit percentages in March compared to a year earlier, while prices for both also continued to rise, according a new report by The Warren Group.
“We’re seeing a significant turnaround in the local housing market. Monthly home sales have been increasing year-over-year since last July and that has propped up the median selling price statewide,” said Timothy M. Warren Jr., CEO of The Warren Group, publisher of Banker & Tradesman. “The homebuyer tax credit has been a wonderful impetus for the housing market. We hope that it has been a strong enough factor that consumers will continue entering the housing market.”
Please click here to read the full article.
by iwd Tina | Jun 21, 2011 | Housing News
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Text of the Act can be found here.
