Future of military housing in question
Widespread impact of budget cuts
“To free up funds for defense mission needs, the FY 2015 budget continues the recent emphasis on improved efficiency across DoD. Efficiency actions include 20% cut in headquarters operation budgets, reduced contractor funding, targeted reductions in civilian personnel, reductions in funding for defense support agencies, savings in military healthy care, and savings from deferred military construction projects and family housing,” the DoD said. -- Brena Swanson in HousingWire
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Mortgage applications decreased 4.1% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Sept. 19, 2014.
This comes a week after mortgage applications jumped adramatic 7.9%. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/31465-mortgage-applications-reverse-course-falling-41
------------------------------------------Shared and taken by Werner Polwein, Bitexco Financial Tower, Ho Chi Minh City
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Low-income, moderate-income and nonwhite borrowers are being squeezed out of homeownership, community coalition says.
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HUD Promise Zone Program Draws Mixed Reviews
Under the Promise Zone’s bidding process, urban, rural and tribal communities are asked to put forth plans that would create a public-private partnership designed to boost community development efforts, including the creation of new affordable housing opportunities. Communities that are part of the Promise Zone program are provided with priority access to federal investments and federal staffing assigned to bring projects to their conclusion. In January, the first five Promise Zones were announced in three cities (Los Angeles, Philadelphia and San Antonio), the Southeastern Kentucky Highlands and the Choctaw Nation of Oklahoma. -- Phil Hall in National Mortgage Professional http://nationalmortgageprofessional.com/news55994/hud-promise-zone-program-draws-mixed-reviews?
------------------------------------------Shared and taken by Xalima Miriel, Medieval interiors someplace in Spain.
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CFPB: Data collection practices within the norm for regulators
Gilford said that CFPB’s practices are within norms for other regulators. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/31455-cfpb-data-collection-practices-within-the-norm-for-regulators
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Shared and taken by HDA Architecture, old Cotton Exchange in Blackburn, Lancashire.
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Real GDP increased 4.6 percent in the second quarter, after decreasing 2.1 percent in the first.
This upturn in the percent change in real GDP primarily reflected upturns in exports and in private
inventory investment, accelerations in nonresidential fixed investment and in PCE, and upturns in state
and local government spending and in residential fixed investment that were partly offset by an
acceleration in imports. -- From the Bureau of Economic Analysis
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Nat'l Real Estate Post:
Gift funds were part of 1/3 of new home buyers' purchases in 2014. If more people were aware that they could use gifts to pay for the down payment, more people would be buying.
http://thenationalrealestatepost.com/gift-funds-are-lendings-secret-sauce/?
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