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Saturday, July 30, 2016

U.S.’s 62.9% homeownership rate at a 51-year low

This was caused by the real estate market meltdown that begun nearly a decade ago, which was all instigated by the very aggressive Federal Reserve policy that occurred after the 9/11 attacks, The crisis affected primarily the newer buyers (minorities and younger people), who paid top dollar; while those with wealth and experience benefited. Will the Federal Reserve make the same mistakes again? If so, you can count on the same sectors to pay the price, while those who understand the game will reap big profits again. Pretty shameful.
FHA Condo Financing | Federal Housing Administration

In a rare moment of bipartisanship before heading home for the summer, the Senate unanimously passed legislation that will require the FHA to lighten up on its condo financing regulations and make low down payment FHA loans more available to the people they are supposed to serve — moderate-income buyers, many of them minorities and first-time purchasers, who turn to condominiums as their most affordable option. 

Monday, July 18, 2016

New Condo Legislation to Bring Relief to Homebuyers: The U.S. Senate recently passed H.R. 3700, the 'Housing Opportunity Through Modernization Act,' by unanimous consent. This legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions.

Friday, July 8, 2016

99 of Top 100 Housing Metros Improve Year over Year: The spring buying season continues to cruise along throughout most of the country, according to Freddie Mac's recently released Multi-Indicator Market Index® (MiMi®).