At a recent forum on the stumbling economy sponsored by the Congressional Black Caucus, Housing and Urban Development Secretary Shaun Donovan seemed like a diligent student as he dutifully recited how HUD and the Obama administration met the home foreclosure crisis with billions of stimulus dollars, pressure on banks and mortgage modification programs.
But asked a question about housing and income equality, Donovan seemed transformed.
Gary Painter probes how press, academics can clarify contentious issues
Real estate is seeing a jump in job opportunities for young real estate professionals as well as an overall improving job market for the industry, according to a new report by the University of Southern California Lusk Center for Real Estate.
The Lusk Center reports it received 150 industry job openings in 2011 through August, a 25 percent increase over the same period last year. Most students in its 2011 class reported receiving more than one job offer, and with higher pay.
CBO estimates that gradually eliminating mortgage-interest deduction would save about $215 billion by 2021
Any changes face intense resistance from the housing and mortgage industries
Senate lawmakers said Thursday they want to be cautious about scaling back or eliminating the popular home mortgage-interest deduction to avoid further upsetting the troubled housing market.
Richard Green lends his insight to Urban Land's coverage of the Los Angeles real estate market
.....The results represent a significant shift from a December 2010 Bloomberg survey that asked the same question. That poll showed a majority, 51 percent, opposed to giving up tax deductions, with 41 percent in favor. Given the pressure to lower the federal deficit, "everything is on the table," says Richard K. Green, director of the University of Southern California Lusk Center for Real Estate.
......San Bernardino and Riverside counties are the epicenter of the ongoing foreclosure crisis in Southern California. Nevertheless, McGuff said that there remains interest, if not overwhelming demand, for new homes, even from people who have foreclosure on their record. The key is offering them something that they can afford and that meets their needs.
Richard Green, director of the USC Lusk Center for Real Estate, agreed.
"These large home builders are not dumb people.
SmartMoney Magazine: The calculations behind online estimates is adding confusion to an already tricky housing market.
...Every year, young adults leave the nest, couples divorce, foreigners immigrate and roommates separate, all helping drive economic growth when they furnish and refurbish their new homes. Under normal circumstances, each time a household is formed it adds about $145,000 to output that year as the spending ripples through the economy, estimates Mark Zandi, chief economist at Moody's Analytics
But with the poor job market and uncertain recovery, hundreds of thousands of Americans...have tabled their moves.