I saw an interesting post today on www.msnbc.msn.com.
Fed chief Ben Bernanke called on the government to ramp up efforts to stem soaring home foreclosures, which are feeding into the country’s deep economic troubles.
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Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates in an effort to stabilize the housing market.
Read the rest of this great post here.
Before the end of the year, the U.S. Department of Housing and Urban Development will break ground in its grand plan to build mixed-income communities to replace the city’s “Big Four” public-housing complexes: B.W. Cooper, C.J. Peete, Lafitte and St. Bernard, HUD officials say.
Despite financing problems caused by the bleak economy, “everything is on track” to create 1,904 new apartments within the next two years, said Anoop Prakash, deputy chief to HUD Secretary Steve Preston.
But even if the agency does break ground in December, it will be six months late. That puts the projects on a break-neck pace, in order to put the new apartments in use by the end of 2010 — the deadline for developers to cash in on Gulf Opportunity Zone low-income housing tax-credits, slated to finance more than half of HUD’s $636 million endeavor.
For more on this click here.
When he took office, Gov. Jindal took the program away from the hapless state housing agency and put the Louisiana Recovery Authority in charge. Yet no cottage was built, and in October Gov. Jindal declared that “unacceptable.”
Here we are two months later, and his administration still hasn’t built a cottage. That’s unacceptable.
Here’s a link to the rest of this write-up.
In the push toward more energy independence, massive infrastructure projects that will help to deliver it have clashed with cherished rights of land ownership.
I came across a good post today on www.topix.com.
The first paragraph is here:
Legal News Personal Injury Law Friday, November 28, 2008
BALTIMORE - A Maryland jury on Oct. 20 awarded a tenant of the Housing Authority for Baltimore City $303,834 in damages for pain and suffering and economic damages caused by mold contamination in her apartment (Nornita Hyman v. Housing Authority for Baltimore City, No. C-24- 06-010789, Md. Cir., Baltimore).
From Mealey’s Litigation Report: Mold
Read the entire post here.
The full scope of the housing meltdown isn’t clear and already there are ominous signs of a new crisis — one that could turn out the lights on malls, hotels and storefronts nationwide.
Mostly cloudy 71°F
Humidity:
75%
Wind Speed:
9 MPH
Wind Direction:
S (190°)
Barometer:
30.01 in.
Dewpoint:
63°F
Heat Index:
73°F
Wind Chill:
71°F
Visibility:
10 mi
Source: www.rssweather.com
Mortgage rates fell for the second day in a row Wednesday, and could be heading toward levels home buyers and owners haven’t seen this year.
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Holden says while the U.S. economy as a whole may be in a downturn, East Baton Rouge is not feeling the same effects. He and area real estate professionals say there is no mortgage crisis in Louisiana.
More on this post here.
