Archive for September 11th, 2008
Continue Reading September 11th, 2008
I need your help. I’m working on a story about up-and-coming neighborhoods in major cities that are attracting young artists. These are places, such as the Bushwick section of Brooklyn, that are in the early stages of gentrification, where artists can still find affordable loft space and where mom-and-pop businesses haven’t yet been pushed out by the chain stores, restaurants, and coffee shops.
Any place come to mind? Give me your best examples.
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Continue Reading September 11th, 2008
The Federal Reserve has just released its annual Home Mortgage Disclosure Act report, and you won’t be shocked by its conclusion: It has become very, very hard for people with iffy credit to get mortgage loans, including many blacks and Hispanics.
I just got a statement about the Fed report from the National Community Reinvestment Coalition:
“New data released by the Federal Reserve Board suggests that risky lending practices and a lax regulatory environment contributed to an unsafe and unsound marketplace and a decrease in credit availability in 2007. The data indicates that credit has been significantly reduced, as the total number of loans fell by 3.5 million from 2006 to 2007. Minorities experienced the decline in access to credit most acutely.”
The irony, of course, is that not long ago mortgages were TOO easy to get, especially for subprime borrowers. Losses on those ill-advised mortgages are now forcing lenders to shut down or drastically scale back new lending.
By the way, check out the XBroker blog analyzing the quality of the HMDA data a few months ago.
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Continue Reading September 11th, 2008
In the wake of the government takeover of mortgage giants Fannie Mae and Freddie Mac last weekend, mortgage borrowing got cheaper almost immediately. But it didn’t get any easier.
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Continue Reading September 11th, 2008
A record 1.249 million homes were in foreclosure during the second quarter of 2008, according to a report released Friday by the Mortgage Bankers Association.
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Continue Reading September 11th, 2008
TMG Partners has received the first national Platinum Certification under the LEED pilot program just completed by the United States Green Building Council (USGBC). Read more »
Continue Reading September 11th, 2008
Want to retire near the water, but without paying premium prices for a home? Residents who buy real estate in these towns see their incomes go the furthest.
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Continue Reading September 11th, 2008
The University of California San Diego has tapped Clark Design/Build of California Inc. to handle he design/build responsibilities for its North Campus Housing Phase 2 project. The mixed-use development will accommodate 800 students and will also feature a retail component. Ground is on target to break on the project in July 2009, about a month after the completion of Phase 1. Read more »
Continue Reading September 11th, 2008
As the nation marks the seventh anniversary of the Sept. 11, 2001 terrorist attacks, the revitalization of Downtown Manhattan offers a complex picture. Progress and controversy continue to surround the epic redevelopment of the 16-acre Ground Zero site. Read more »
Continue Reading September 11th, 2008
Silverstone Communities has completed the development of Park Broadway, a 96-residence condominium property located 15 miles south of San Francisco in Millbrae, part of California’s upscale San Mateo County. Read more »