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.
December 7, 2012
By Loretta Kalb // The Folsom City Council early next year is expected to consider reducing the number of affordable units attached to large home-building projects.
The proposal to change the terms of a contested city ordinance has yet to reach the City Council, but it already has housing advocates lining up with their concerns.
Affordable housing plans on George Lucas’s Grady Ranch are revving up quicker than the Millennium Falcon in an astroid field—as calls went out this week for potential development proposals at the Lucas Valley site.
LAND USE / PLANNING / REGULATION
The California Department of Housing and Community Development announced Wednesday that Humboldt County’s Adopted Revised Housing Element is in “full compliance with State housing element law.”
MORTGAGE & FORECLOSURE ISSUES
Foreclosure-related sales accounted for 54 percent of all residential sales in Modesto in the third quarter, putting the Central Valley city at the head of the list as having the highest foreclosure rate of any of the nation’s 100 largest metropolitan statistical areas, according to a report from foreclosure information company RealtyTrac Inc. of Irvine.
On Jan. 1, 2013, California homeowners will benefit from a new law that protects them from wrongful foreclosures and unethical practices by lenders. The California Homeowner Bill of Rights was approved by the state’s governor as one measure to regulate the actions of banks against homeowners who are in default or are attempting to refinance or receive a loan modification.
ECONOMY / EMPLOYMENT
First-time homebuyers have played only a small part in the nation’s housing recovery, with investors and cash buyers doing a lot of the buying in key real estate markets.
U.S. hiring gains held steady in November despite disruptions from Superstorm Sandy and employers’ concerns about impending tax increases from the year-end “fiscal cliff.”
TRANSPORTATION / TRANSIT-ORIENTED DEVELOPMENT
“The High-Speed Rail Authority’s Community Benefits Policy means more opportunity for local workers and local small businesses,” says Fresno Mayor Ashley Swearengin. “I applaud the Authority for adopting this policy and helping to make sure that employment and business opportunities created by the project are accessible to our local community.”
NATIONAL HOUSING NEWS
Mortgage interest rates edged higher from record lows this week, with lenders offering the 30-year fixed loan to solid borrowers at an average of 3.34%, Freddie Mac said in its latest survey.
By Jim Puzzanghera // A top Obama administration official said a key government agency that has helped stabilize the housing market might be able to stay afloat next year, but he couldn’t guarantee it wouldn’t need a taxpayer bailout.
ENVIRONMENT / CLIMATE CHANGE
By Rick Orlov // Mayor Antonio Villaraigosa signed two contracts Thursday that will expand the city’s use of solar energy – enough to power nearly 200,000 homes – and help it close down a coal plant. One agreement for 25 years would let the city purchase solar power from a project on Native American tribal land in Nevada to help the city Department of Water and Power increase its use of clean energy.
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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.
(C) Copyright 2012, California Department of Housing & Community Development, Division of Housing Policy Development
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