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
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
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.
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
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
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.
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.
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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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.
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