Unabashed Truth about AFFH, Protecting Property Rights and Local Government Authority
HUD believes that if you don’t own property you are property, HUD’s property that is with cheap rental homes in the suburbs. When it comes to AFFH HUD places no priority on honoring the property rights of homeowners who might object or local government authority for jurisdictions taking HUD grants. WSJ – Builders Pull Back Continue Reading
The free market, not HUD, should be the only arbiter for affordable housing. WSJ – Venice Beach Is a Hot Place to Live, So Why Is Its Housing Supply Shrinking? Venice Beach is the toughest neighborhood to build new housing in U.S., followed by Prospect-Lefferts Gardens in Brooklyn and Philadelphia’s Fishtown By Laura Kusisto, July Continue Reading
Introduction by John Anthony, click Sustainable Freedom Labs: FHA loans, require as little as 3.5% down, plus a 1.75% upfront insurance premium payment to help FHA cover any losses. Then the borrower pays .85% of their mortgage monthly into an insurance fund to keep it solvent. In a last ditch move, former President Obama floated a .25% reduction Continue Reading
Introduction by Smith Young “:)” The article below doesn’t mention HUD’s role in helping create the housing shortage, but it does identify: Local building restrictions, meanwhile, have added thousands of dollars to the cost of building so-called starter homes in recent years, builders said. An example of HUD’s manipulation is the HUD questionnaire “America’s Affordable Continue Reading
WSJ – Luxury Home Sales in U.S. Continue to Rise Study finds the number of homes priced above $600,000 grew in 37 out of the 43 counties analyzed By Chris Kirkham Dec. 9, 2016 Sales of luxury homes in most parts of the U.S. have continued to increase over the last year, according to an analysis Continue Reading
Just FYI WSJ – Credit Restrictions Cost Home Buyers ‘Deal of a Lifetime’ After prices and rates dropped, regulators and lenders made it harder for borrowers to get loans By Nick Timiraos Dec. 4, 2016 Sean Dobson wanted to start a mortgage bank four years ago to serve borrowers with middling credit or irregular income. He eventually Continue Reading
“They took that problem and made it worse” said Shawn Evenhaim, chief executive of Los Angeles developer California Home Builders, said he stopped purchasing land months ago that would fall under the new requirements, anticipating the initiative would pass. He has enough land to get him through the next two to three years, but after Continue Reading
WSJ – Lopsided Housing Rebound Leaves Millions of People Out in the Cold Homeownership rate continues to decline due to credit issues, student loans and high rents By Laura Kusisto Updated Aug. 11, 2016 m.wsj.net/video/20160811/081116lunchlostdecade1/081116lunchlostdecade1_v2_ec664k.mp4 The housing recovery that began in 2012 has lifted the overall market but left behind a broad swath of the Continue Reading