HCD Web News – November 28, 2012

HCD Web News is an electronic clipping service which features stories related to California and national housing and community development related issues. HCD staff compiles current news sources on Monday, Wednesday, and Friday.

November 28, 2012

TODAY’S NEWS

AFFORDABLE HOUSING

SAN FRANCISCO CHRONICLE: S.F. called model for affordable housing

By John Wildermuth // Nearly 50 years of protests, lawsuits and ballot battles over low-income housing have made San Francisco a nationwide model for efforts to keep urban America from becoming home to only the very rich or the very poor, according to a paper that will be released Wednesday.

HOUSING MARKETS / REAL ESTATE

LOS ANGELES TIMES: New home sales dipped 0.3% in October

By Jim Puzzanghera // New home sales dipped 0.3% in October and the government revised down its figures for September in a report that threw some cold water on the recent signs of a strong housing rebound.

LOS ANGELES DAILY NEWS: Stumble off cliff won’t matter in long run, Case-Shiller says

Call it a tale of two timetables for the U.S. housing market. There’s a short-term saga where the dreaded “fiscal cliff” could knock U.S. home values to the canvass with one blow. Over the long term, though, the housing picture brightens, with home value rising a reasonable 3.3% annually through 2017.

MORTGAGE & FORECLOSURE ISSUES

CONTRA COSTA TIMES: Wells Fargo to launch $5 million effort to provide down payment for East Bay potential home buyers

By George Avalos // Wells Fargo is hoping a new $5 million program will help hundreds of prospective home buyers in the East Bay come up with the thousands of dollars they typically need to make a down payment on a home, the bank said Tuesday.

NATIONAL HOUSING NEWS

CONTRA COSTA TIMES: Homeowners’ mortgage interest deduction could be trimmed

By Pete Carey // As Congress looks for new sources of revenue to deal with the looming “fiscal cliff,” a popular ingredient of the American dream could be on the chopping block. It’s the mortgage interest tax break, an especially popular deduction in high-cost places like the Bay Area, which allows taxpayers to cut their taxable income by the amount of interest they pay on their home loans.

CONTRA COSTA TIMES: Home prices increase in most major US cities

By Christopher S. Rugaber // Home prices increased in September in most major U.S. cities, more evidence of a housing recovery that is providing a lift to the fragile economy.

Standard & Poor’s/Case-Shiller reported Tuesday that its 20-city index of home prices rose 3 percent in September compared with the same month last year. Prices also gained 3.6 percent in the July-September quarter compared with the same quarter in 2011.

CENTRAL VALLEY BUSINESS TIMES: California leading nation’s economic rebound, says report

With California in the lead, more than two out of three states recorded private sector job gains in October, according to a new report from the U.S. Congress Joint Economic Committee.

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COVERAGE INFORMATION:

California Department of Housing & Community Development WEB NEWS service coverage:

Mondays, Wednesdays and Fridays each week includes electronic format articles retrieved from newspapers or news services that report housing and community development news in California and some national services. Coverage is for California newspapers that are available electronically via the Internet – and any significant related breaking news.

(C) Copyright 2012, California Department of Housing & Community Development, Division of Housing Policy Development

Links to web sites do not constitute an endorsement from The California Department of Housing and Community Development. These links are provided as an information service only. It is the responsibility of the user to evaluate the content and usefulness of information obtained from these sites.  HCD does not provide full text articles – user must access expired articles via newspaper archives online or local public library.

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