Thirty-year mortgages at 4 1/2 percent require much less in monthly interest payments than do similar loans at 5 1/2 percent or 6 percent. Millions of homeowners who had been paying even higher rates than that have refinanced in the past year – the combined effect of which has been to reduce the estimated amounts of interest being written off now and for the next couple of years at least.
[Link to Lower interest deduction better for deficit?]
Here’s what Generation Y doesn’t want: formal living rooms, soaker bathtubs, dependence on a car.
In other words, they don’t want their parents’ homes.
What do *you* want?
[Link to No McMansions for Millennials]
"Right now, there are millions and millions of people who want to “employ” our “unemployed” housing stock: immigrants. Simply let more of them in and they will buy, rent, and live in these empty homes."
Could it be really that simple? Nah! We lack the political will to do it.
[Link to An unemployment problem with an easy solution]
I am prone to write stinging rebukes to poorly written garbage on the web, but when I call someone out, I will devote the post to building a factual argument as to why they are wrong. I never ask anyone to just take my word for it because I am some kind of expert. Authority comes from the presentation of data in a compelling argument. Mindless rants don’t make authors an authority, it makes them lunatics.
[Source: Irvine Housing Blog] IrvineHunter rips apart The Atlantic’s Megan McArdle’s arguments that the 30-year Fixed-Rate Mortgage is to blame for the housing crisis. That’s what I love about blogs. They refute the so-called ignorant pundits with cold hard facts.
An excellent interactive map of New York City with income levels for various neighborhoods in reference to affordable housing. Don’t even click on the Upper East Side. [Source: Envisioning Development: What is Affordable Housing?]
The nation’s sprawling suburbs may have been a good place to grow up, but they’re a tough place to grow old. Here’s how towns are beginning to ‘retrofit’ their neighborhoods—and what your community might look like in the future [source].
Interesting on how changing demographics are making retrofitting suburbia almost necessary. However, this could also mean increased focus on developing communities in alternative locations with different characteristics. Housing coming a full circle?
If you took out a mortgage in 2007, there's an over 20 percent chance you'll default on it.
via NPR: Your Odds Of Defaulting.
This first-of-its-kind learning conference will help you identify policies that have been successful in other communities and could work in yours.
National Housing Conference (NHC) and its research affiliate, the Center for Housing Policy is hosting the “Solutions for Working Families” Learning Conference from June 28th to 30th.
Research by the Center on Budget and Policy Priorities shows that since 1995 federal funding for low-income housing assistance has dropped by over 20 percent, both as a share of GDP and non-military discretionary spending. Meanwhile, the number of low-income renters spending more than half of their income on housing costs has increased by over 33 percent since 2000.
In the current housing crisis, low-income homeowners continue to face the brunt.