CONSTRUCTION: Housing starts rise 77 percent in Olympia
Olympia and Tacoma are among just 33 urban areas where housing starts were up in the three-month period ending in April this year.
http://www.theolympian.com/business/story/889275.html
The State of the Nation's Housing
Since 1988, Harvard's Joint Center for Housing Studies has published an annual report assessing the state of housing in the United States.
http://www.time.com/time/nation/article/0,8599,1906469,00.html
New Home Construction Starts Up 17 Percent
The US Housing and Urban Development announced the new residential construction statistics for May 2009. Improvement is appearing, but compared to last year, the numbers are still low.
http://www.creditunionsonline.com/news/2009/New-Home-Construction- Up-17-Percent.html
Fraud Alleged in L.A. Housing Contracts
The Los Angeles Housing Authority claims a project manager swiped $800,000 from contracts for low-income and disabled housing and doled most of it out to his family.
http://www.courthousenews.com/2009/06/23/Fraud_Alleged_in_ L_A_Housing_Contracts.htm
Calif's Housing Tax Credit Could Already Be Depleted
To jump-start the ailing housing market, the state set aside $100 million for qualified buyers on or after March 1. With some able to combine the Golden State's bonus with a federal credit of up to $8,000 for first-time buyers, the response has been enormous. Some $94.7 million has been claimed via 9,848 applications, according to the most recent data from the state's Franchise Tax Board.
http://online.wsj.com/article/BT-CO-20090622-710095.html
U.S. home builder mood dips, but up in West
The National Association of Home Builders/Wells Fargo Housing Market Index declined one point to 15 in June, but rose two points in the Western region to 14.
http://www.bizjournals.com/portland/stories/2009/06/15/daily13.html
Home-Builder Shrs Up; Housing Starts Top Street View
Shares of home builders traded higher Tuesday after housing starts data showed further evidence of stability in the sector, but analysts warned the increased construction could add to already-elevated inventory levels.
http://online.wsj.com/article/BT-CO-20090616-710885.html
Pulte: Big metro areas, not Detroit, recover soon
Large U.S. metropolitan areas with tight housing supplies should recover relatively quickly from the nation's housing crisis, but the auto industry's problems will keep Detroit in the doldrums for years, the chief executive of the No.2 U.S. home builder said on Monday.
http://www.reuters.com/article/GlobalRealEstate09/idUSTRE55L63C20090623
MBA Lowers 2009 Origination Forecast
The Mortgage Bankers Association (MBA) has lowered its forecast of mortgage originations in 2009 to $2.03 trillion - a drop of over $700 billion from its March forecast.
http://www.mortgageorb.com/e107_plugins/content/content.php?content.3747
Southern California home prices rise, though Inland numbers are less rosy
With foreclosures representing a smaller portion of home sales, median home prices in Southern California rose slightly in May, showing the first month-to month price increase since July 2007.
http://www.pe.com/business/realestate/stories/PE_News_Local_S_dataquick 18.4510c05.html
Soft Market Conditions are Providing Favorable Pricing for Units with Long-Term Rent Growth Potential
Greg Merage (pictured), CEO of Stoneridge Capital Partners, believes in the long-term fundamentals for multifamily in Orange County, especially in south Orange County where demographics are strong.
http://www.multihousingnews.com/multihousing/content_display/news/west/ e3i405cd9674fbdfea53d3d48aae4148eb0
It May Be Time for Builders to Get Back in the Game
Housing markets in California that have been among the worst hit by the current downturn appear poised for recovery, according to speakers at PCBC in California on June 17-19, but the marketplace that emerges there and in other parts of the country in the coming months and years will be far different than what preceded it, they said.
http://www.nbnnews.com/NBN/issues/2009-06-22/Front%2BPage/index.html
Eye on the Economy: Housing Production Should Stabilize Soon
Strenuous and coordinated policy responses, together with necessary structural corrections in housing and other sectors, have laid the groundwork for recovery in economic output that should begin to take shape during the second half of the year.
http://www.nbnnews.com/NBN/issues/2009-06-22/Economics+%26+Finance/2.html
Changes Urged to Rules on Condo Loans
Two Democratic lawmakers are calling on Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the viability of some developments and slow the housing-market recovery.
http://online.wsj.com/article/SB124562533240635581.html
Moody's Downgrades KB Home
Moody's Investors Service on Monday downgraded all its ratings of KB Home on the expectation that the Los Angeles homebuilder will continue to post operating losses and its pace of cash generation will slow as inventory reduction becomes more challenging.
http://www.labusinessjournal.com/article.asp?aID=199158102.7613079. 1798511.1054007 .6458152.743&aID2=138338
Bulldozing our cities may wreck our future
The Obama administration is reportedly considering backing a radical plan to shrink deteriorating American cities by bulldozing entire neighborhoods and returning the land to nature.
http://www.latimes.com/news/opinion/la-oe-rodriguez22-2009jun22,0,3360860.column
Hovnanian Building Energy-Saving ‘House of the Future’
At its Jockey Club community in Oceanport, N.J., K. Hovnanian Homes is building a home that cuts energy costs by 40%
http://www.app.com
More Jurisdictions in California Slash Housing Impact Fees
On June 1, the California Building Industry Association reported that the city of Menifee in Riverside County had voted five to zero to lower its development impact fee by $2,585.70 per single-family home, down from a previous fee of $5,185.
http://www.nbnnews.com/NBN/issues/2009-0622/Politics+%26+ Government/index.html
INSIDE THE DEAL: 10 Years Later, Love Funding Refis 1999 Loan with Favorable Results for Borrower
The property was originally developed using a construction loan which rolled over into a 30-year permanent loan rollover financing under the FHA 221(d)(4) mortgage insurance program.
http://www.multihousingnews.com/multihousing/content_display/news/ e3i6fad5a2a1d 8e5132f4428658c8c9a5cd
Distressed Situations Could be Widespread in Multifamily, Says Consultant
Distressed properties will become more widespread in the next three to five years, says the founder of a consulting firm that was recently launched to specialize in resolving such assets.
http://www.multihousingnews.com/multihousing/content_display/news/ e3i5bc95dcbd33 158676f1f9ac6448474fd
San Diego Transaction Activity Indicates Market May Have Bottomed Out
San Diego’s apartment market has shown recent signs of stabilizing, according to a new Cushman & Wakefield Special Annual Report.
http://www.multihousingnews.com/multihousing/content_display/news/west/ e3ibc30ab7 d8da37db85943a9e4f65657ab |
