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Homeowners want more space and urban amenities, research finds
Builders and architects report increasing interest in larger homes. However, Americans are not as focused on suburbs as they once were, says the American Institute of Architects. "In many areas, we are seeing more interest in urban infill locations than in remote exurbs, which is having a pronounced shift in neighborhood design elements," said Kermit Baker, AIA chief economist. CNBC
(12/17)
More borrowers opt for 15-year mortgages
Low interest rates are prompting more borrowers to finance their mortgages over 15 years instead of the standard 30 years. CoreLogic reports that nearly a third of mortgages refinanced in the first seven months of this year moved to 15-year terms. MarketWatch
(12/18)
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Reverse-mortgage program drains taxpayers
The Federal Housing Administration is on course to lose $2.8 billion this year and billions more at least through 2019 on reverse mortgages, according to an estimate by the Department of Housing and Urban Development. The problem is FHA's guarantees, which reduce personal risk and amount to a subsidy for older Americans that allows them to spend down their savings. The agency now accounts for 90% of outstanding reverse mortgages. The Wall Street Journal
(12/14)
Law allows land banking in Pa.
A law in Pennsylvania that takes effect Monday will allow municipalities to establish land banks to assemble vacant properties and convert them to productive uses. Putting the land back on the market is expected to boost construction activity and restore lost home equity. Housing Wire
(12/17)
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| Location, Location, Location |
Mortgage-relief spending is slow in Tenn.
Tennessee has been slow to match federal dollars with homeowners who need help paying their mortgages. Nearly two years after receiving more than $217 million from the federal government's Hardest Hit Fund, the state has spent only 13.3% of that money. State officials say many residents don't know about the assistance or are embarrassed to ask for help. Restrictions on eligibility have also limited participation. The Tennessean (Nashville) (tiered subscription model)
(12/13)
Education and income inequality are intertwined in Mass.
Income inequality is rising in Massachusetts, a state known for its top-notch educational institutions and well-educated workforce. Changing labor-market dynamics contribute to the income gap, but experts say divergent educational opportunities among the wealthy and poor are deepening the income divide. Two communities in the state highlight the disparity. Some say expanding charter schools and school choice could help. The Atlantic online
(12/19)
Walkability is key to cities' viability, author says
Cities that are pedestrian-friendly will be more competitive, says urban planner and author Jeff Speck. For example, he says, 77% of millennials want to live in urban cores, but they won't choose cities where they have to dodge traffic. Walkable cities often struggle with gentrification, but before worrying about that, city leaders should focus on achieving a balance of subsidized and market-rate housing, Speck says. U.S. News & World Report
(12/13)
| Housing Matters Spotlight |
| About How Housing Matters |
| The How Housing Matters research initiative seeks to demonstrate how having a decent, stable, affordable home leads to strong families and vibrant communities. Research is showing that stable, quality housing has value beyond the provision of shelter; it improves school performance, diminishes health problems for children and adults, and decreases psychological stress. By illuminating the ways in which housing matters and highlighting innovative practices in the field, we hope to encourage collaboration among leaders and policymakers in housing, education, health, and economic development to help families lead healthy, successful lives. How Housing Matters is an initiative of the John D. and Catherine T. MacArthur Foundation. |
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