Daily Real Estate News April 8, 2008
Families Feel Crunch From Rising Rents
Residential rents are up across the country, confirms the National Low Income Housing Coalition in the latest issue of its annual report "Out of Reach." The organization identifies Hawaii, California, and New York as the least unaffordable states and names Connecticut's Stamford-Norwalk market as the most costly metropolitan area in the nation. According to the study, one in seven U.S. households is contributing more than half of their income toward keeping a roof over their heads; and low-income, minority, and first-time home buyers are especially being impacted by escalating shelter costs. "The numbers in 'Out of Reach' are a stark reminder that in nearly every community in our nation, families are struggling to make ends meet," said U.S. Sen. Christopher J. Dodd (D-Conn.), in a preface to the NLIHC report. "While we have federal programs in place to assist people in affordable housing, they are relatively small compared to the great need. More must be done to ensure housing opportunities for all."Source: Worcester Telegram & Gazette (Mass.), Bronislaus B. Kush (04/08/08)© Copyright 2008 Information Inc.
www.RandBCoastalRealEstate.com
www.Panama-City-Beach-Florida-MLS.com
www.Panama-City-Beach-Florida-Condominiums.com
www.InvestSmarter.com
Tuesday, April 8, 2008
Policymakers to Propose Housing Tax Breaks
Daily Real Estate News April 8, 2008
Policymakers to Propose Housing Tax Breaks U.S. House Democrats are drafting a plan for curing the housing crisis by offering tax breaks to home owners, first-time homebuyers, and developers of low-income housing.The plan, which will be unveiled this week, deliberately snubs the struggling home-building industry. "We need to provide relief to the buyers and families themselves, not just the banks and builders," House Ways and Means Committee Chairman Charles B. Rangel (D-N.Y.) said yesterday in a written statement. "The House bill will put families first."The House proposal would create a temporary tax credit of as much as $8,000 for first-time buyers and increase tax credits for investors in low-income housing. It would create a standard deduction for property taxes, aiding those who don’t itemize on their federal returns. And it would expand the authority of state and local housing finance agencies to use tax-exempt bonds to refinance troubled mortgages.This package, together with the previous package of housing bills created by the House, would be the most far-reaching attempt by Congress to address the mortgage crisis. House leaders plan to present it to the full chamber for a vote in the next few weeks, says Rahm Emanuel (D-Ill.), chairman of the House Democratic Caucus. "There's a determination to get this done," he says.Source: The Washington Post, Lori Montgomery (04/08/08)
www.RandBCoastalRealEstate.com
www.Panama-City-Beach-Florida-MLS.com
www.Panama-City-Beach-Florida-Condominiums.com
www.InvestSmarter.com
Policymakers to Propose Housing Tax Breaks U.S. House Democrats are drafting a plan for curing the housing crisis by offering tax breaks to home owners, first-time homebuyers, and developers of low-income housing.The plan, which will be unveiled this week, deliberately snubs the struggling home-building industry. "We need to provide relief to the buyers and families themselves, not just the banks and builders," House Ways and Means Committee Chairman Charles B. Rangel (D-N.Y.) said yesterday in a written statement. "The House bill will put families first."The House proposal would create a temporary tax credit of as much as $8,000 for first-time buyers and increase tax credits for investors in low-income housing. It would create a standard deduction for property taxes, aiding those who don’t itemize on their federal returns. And it would expand the authority of state and local housing finance agencies to use tax-exempt bonds to refinance troubled mortgages.This package, together with the previous package of housing bills created by the House, would be the most far-reaching attempt by Congress to address the mortgage crisis. House leaders plan to present it to the full chamber for a vote in the next few weeks, says Rahm Emanuel (D-Ill.), chairman of the House Democratic Caucus. "There's a determination to get this done," he says.Source: The Washington Post, Lori Montgomery (04/08/08)
www.RandBCoastalRealEstate.com
www.Panama-City-Beach-Florida-MLS.com
www.Panama-City-Beach-Florida-Condominiums.com
www.InvestSmarter.com
Monday, April 7, 2008
Rental Market Going Strong As Ever...Even higher most say
Daily Real Estate News April 7, 2008
Rent Keeps Getting More ExpensiveAverage rents for U.S. apartments rose 1 percent in the first three months of 2008.This was the 24th consecutive quarter that rental property rates have risen, according to New York-based real estate research firm Reis Inc. The last time rents fell was the first quarter of 2002, when they declined by 0.2 percent, according to Reis.A soft housing market beset by stricter loan terms and falling home prices is the "dominant driver" pushing people to rent apartments, said Sam Chandan, chief economist at Reis.New York had the highest average rent at $2,790 a month, followed by San Francisco at $1,801, Fairfield County, Conn., at $1,759 and Boston at $1,620, Reis said.Source: Bloomberg News (04/05/2008)
For Rental Property in the Panama City Beach Florida Area Please visit
http://www.panama-city-beach-florida-mls.com/idx/rentals/
For Rental Property in the Destin Florida Area Please visit
http://www.destin-florida-mls.com/idx/destin-rentals/
www.InvestSmarter.com
www.RandBCoastalRealEstate.com
Rent Keeps Getting More ExpensiveAverage rents for U.S. apartments rose 1 percent in the first three months of 2008.This was the 24th consecutive quarter that rental property rates have risen, according to New York-based real estate research firm Reis Inc. The last time rents fell was the first quarter of 2002, when they declined by 0.2 percent, according to Reis.A soft housing market beset by stricter loan terms and falling home prices is the "dominant driver" pushing people to rent apartments, said Sam Chandan, chief economist at Reis.New York had the highest average rent at $2,790 a month, followed by San Francisco at $1,801, Fairfield County, Conn., at $1,759 and Boston at $1,620, Reis said.Source: Bloomberg News (04/05/2008)
For Rental Property in the Panama City Beach Florida Area Please visit
http://www.panama-city-beach-florida-mls.com/idx/rentals/
For Rental Property in the Destin Florida Area Please visit
http://www.destin-florida-mls.com/idx/destin-rentals/
www.InvestSmarter.com
www.RandBCoastalRealEstate.com
Subscribe to:
Posts (Atom)