Showing posts with label Housing Market. Show all posts
Showing posts with label Housing Market. Show all posts

Tuesday, July 7, 2015

A Lot of Change--Not Much Hope!

A Lot of Change--Not Much Hope!

July 07, 2015 African Americans , Fair Housing Act 0 Comments

Harvard: Home Ownership At 20-year Low, Blacks Suffer Most

By Paul Bedard July 7, 2015, Washington Examiner

The American Dream of a home is slipping out of reach for millions of Americans, especially African Americans, as house sales hit a 20-year low, according to a new Harvard University study of the U.S. housing market.

Instead, house-poor Americans are shifting to rentals with such speed that many areas can barely keep up with demand.

RELATED: Supreme Court's Fair Housing Act ruling: A disappointing decision, with a glimmer of hope

Overall, home ownership, the cornerstone of the American Dream, is down to 63 percent, a far cry from the 69 percent registered in 2004. The Joint Center for Housing Studies of Harvard University's annual "State of the Nation's Housing" report said current home ownership percentages rival that of 1993.
 
More: http://www.washingtonexaminer.com

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Monday, January 26, 2015

Hope and change?

January 26, 2015 African American Demographic , Black Families 0 Comments
More Black Homeowners Are Underwater

Michael A. Fletcher, Jan. 24, 2015, Washington Post

The same reversal of fortune is playing out across the country as black families who worked painstakingly to climb into the middle class are seeing their financial foundation for future generations collapse. Although African Americans have made once-unthinkable political and social gains since the civil rights era, the severe and continuing damage wrought by the downturn — an entire generation of wealth was wiped out — has raised a vexing question: Why don’t black middle-class families enjoy the same level of economic security as their white counterparts?

Read more: www.washingtonpost.com

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But, but Obama said we're are BACK!

January 26, 2015 A. Gary Shelling , Bloomberg View 0 Comments
Nothing Is Going To Save The Housing Market

A. Gary Shelling, Jan. 23, 2015, Bloomberg

Don't blame the Chinese, who are showing an abundance of interest. Their share of foreign purchases leaped to 16 percent in the year ending March 2014, from 5 percent in 2007. They paid a median price of $523,148, higher than any other nationality and more than double the $199,575 median price of all houses sold.

Read more: www.bloombergview.com

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Saturday, December 27, 2014

Crime causes poverty--not the other way around

December 27, 2014 Black on Black Crime , Crime 0 Comments
Straight Into Compton: House Prices Soar As Murderous Gangs Reach Truce

Nick Allen, Dec. 26, 2014, Telegraph

She is proud that what she has achieved so far was done, not through heavy policing, but conflict mitigation. The last several months have seen a reduction in violent activity of about 65 per cent, she said. For her, seeing people jogging at night is a key indicator of success.

Read more: www.telegraph.co.uk

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Wednesday, October 8, 2014

Must be one helluva phone!

October 08, 2014 ABC News , Home Sales 0 Comments
Man Tries To Trade Decrepit Detroit House For New iPhone

Credit:  Larry Else / ABC News
By Meghan Keneally, Oct. 7, 2014, Abcnews.go.com

One homeowner is resorting to bartering for the latest iPhone as a tactic to sell a beleaguered property in Detroit.

The owner has dropped the asking price on a three-bedroom home in east Detroit from $5,000 to a new iPhone 6 as the owner is desperate to sell ahead of the area’s tax auction season where "thousands" of homes near foreclosure will flood the market, real estate broker Larry Else told ABC News.

"This house is really not worth much at all," Else said.

The windows are broken and there is no front door. The broker himself has not been inside the home because his company has a policy of not going in unsecured houses alone. Detroit's declining fortunes have been precipitous, with an exodus has that left its population about a third of what it used to be in its heyday, according to the U.S. Census Bureau.

"It's a little dicey," Else said of the neighborhood.

The owner who proposed this unusual sale lives in Austria and has never lived in Detroit, and Else said that his client got ripped off the first time around. The owner, who is not sharing his name publicly, bought the home for $41,000 in 2010 after being told that he would make a quick profit by renting out the home. Little did he know that the person he bought it from had purchased the property just two weeks prior for only $10,500, Else said.

Read the full story:  www.abcnews.go.com

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Tuesday, April 1, 2014

Millennials Worth Less --And expected to overpay for health ins.-- so that older, sicker (and wealthier) pay less.

April 01, 2014 American Dream , Gawker.com 0 Comments
Hamilton Nolan, Mar. 31, 2014, Gawker.com
The young adults of America have been sold a dream for their entire lives: go to the right school, get the right job, buy a house, and live the American Dream. Ha. The American Dream is dead, school is a debt trap, and young people are losing the economic race with the old.

Look, everyone got screwed in the recession. Rich people, who have all the money, actually lost the most money, arithmetically speaking! But that doesn't matter, since rich people quickly recovered from the recession, whereas non-rich people still have not.

 Read the full story:  www.gawker.com

 Related:  Bloomberg:  Millennials Mired in Wealth Gap as Older Americans Gain:  Economy

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