For list of cuts click here.
To review Governor’s companion legislation to implement additional recommendations click here.
Housing News
WASHINGTON, DC – Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan called on Congress to approve three important measures to improve housing and the housing market for Americans: extension of the First Time Homebuyers Tax Credit for a limited period, extension of higher loan limits for home mortgages, and secure funding for the Housing Trust Fund.
Click here to read the full press release.
Click here to view the bill.
Click here to view a section by section summary of the expiring use bill.
Click here to read CHAPA press release.
WBUR
“Report: Housing In Boston Less Affordable Than Ever”
Listen
Barry Bluestone, dean of Public Policy and Urban Affairs at Northeastern University and co-author of the Boston Foundation’s 2009 housing report card which was released Monday, reveals that a spike in foreclosures has driven up demand for rental housing and pushed up prices. Rents were up 11 percent this spring compared to the second quarter of 2005.
State Updates
HUD Secretary Lauds Massachusetts Affordable Housing Innovations; Outlines Principles to Promote Multifamily Housing
Please click here to read New England Housing Network's letter in support of H.R. 2454, The American Clean Energy and Security Act of 2009.
Please click here for the full text of Secretary Donovan's speech.
Lenders started and completed more foreclosures in Massachusetts during the third quarter than the previous quarter, but foreclosures have declined almost 30 percent year-over-year, according to a new report by The Warren Group.
WASHINGTON – As part of its comprehensive plan to stabilize the U.S. housing market, the Obama Administration today announced a new initiative for state and local housing finance agencies (HFAs) that will help support low mortgage rates and expand resources for low and middle income borrowers to purchase or rent homes that are affordable over the long term.
GOVERNOR PATRICK ANNOUNCES $50.3 MILLION IN RECOVERY FUNDS TO REVIVE STALLED HOUSING DEVELOPMENTS
U.S. Treasury’s tax credit exchange funds to restart 10 projects, create jobs