The “American Dream” of homeownership is challenged by a new study that links high rates of unemployment to high rates of homeownership. Individual efforts to cling to homes limit mobility to jobs. Meanwhile, another investigation notes that as the housing market improves, so does worker mobility. For a pdf version of the full stories, plus […]

While the housing industry slowly recovers, New York’ attorney general is suing big banks for continuing to scam borrowers. The action alleges that the banks still practice abusive mortgage lending in the wake of a $25 billion settlement last year. Meanwhile, the energy boom in Texas’ Permian Basin has increased the demand for housing that […]

Racial inequities in US housing ownership continue as a new report shows minorities pay more for their homes and are almost 30 percent less likely to own a home than Caucasians. Maps show that special segregation is still the norm in most cities. For a pdf version of the full stories, contact Bo McCarver at […]

As the housing recovery stalls, big banks move in to grab the bargains, leaving low-income buyers languishing. Market analysts speculate that banks may be caught in another housing bubble of their own making. In Galveston, the city council finally throws in the towel and moves forward to replace public housing units lost in Hurricane Ike […]

Houston planners are proposing to develop more work force housing for middle income households inside the inner loop. The mayor is quoted as saying the city has enough housing for its rich and poor but needs more homes for middle-income workers to live closer to their jobs. For a pdf version of the full stories, […]

Fueled by record-low interest rates, housing sales surge beyond supply and send builders scrambling to restart and expand their operations. Meanwhile, the Obama Administration presses banks to use FHA programs reaching buyers with weaker credit records. In Texas, a lemon law to hold builders more accountable for flawed structures runs into opposition from the homebuilders’ […]

Home builders now rush to respond to a surging market as nationwide sales rise 7.3 percent in the last year. Part of the rebound is because of an easing of standards by banks where the average borrower’s credit score dropped form 749 to 745 in the first two months of this year. For a pdf […]

As the housing market slowly improves, some banks are buying huge tracts of foreclosed houses and renting them in hope of selling later. The practice, backed by Fannie Mae, has created a false market and spiked prices beyond that of many individual buyers. For a pdf version of the full articles, plus contextual stories in […]

The reality of federal cuts hit the poor first with HUD preparing to cut 100,000 Section 8 vouchers nationwide. Anticipating the losses, local housing authorities in Fort Worth react and void recently-issued vouchers before households can use them. A study of HUD’s massive efforts to convert Chicago’s public housing into mixed-income units shows dismal results: […]

A sluggish US economy bodes for tighter pocketbooks that preclude down payments on mortgages. As an alternative, many young Americans seek rental housing – but it’s frequently not there. The market pressures increase as incomes decrease — the poor are priced out. Meanwhile, the government retracts from mortgage securities and fuels speculation about whether private […]

Ratings agencies: “can’t live with them and can’t live without them.” Federal efforts to penalize and reform Wall Street rating agencies are slow, weak and possibly futile. The companies were at the root of fraudulent practices in 2008 that gutted the economy. Meanwhile, 16 states are suing Standard & Poor’s for inflated ratings of securities. […]

As the housing industry slowly recovers, another suit is filed by the Justice Department for business malpractices that fueled the market meltdown. Standard and Poor will now have to justify reasons they inflated ratings of shabby stocks. Meanwhile, the sale of million-dollar homes has never missed a beat as the well-heeled remain unaffected by the […]

As critics blast the Obama Administration for neglecting foreclosed homeowners, Fannie and Freddie Mac begin to forgive some homeowners who have faithfully serviced “underwater loans.” Meanwhile, various major newspapers report strong housing sales and increased building activities that offer a bright spot in the US economy. For a pdf version of the full articles, plus […]

As the US home building rebounds, West Texas prepares for a huge production in housing units to accommodate workers extracting oil from the Cline Shale vein that runs under ten counties. The production is estimated to have the potential to pass that of Saudi Arabia in eight years and bring thousands of new workers to […]

The deal cut between the Fannie Mae and Bank of America has come under attack by Public Citizen as too little retribution for the trillions of dollars bilked from mortgage holders. Meanwhile, new federal rules implemented to prevent such sleaze are criticized by banks as being too restrictive. For a pdf version of the full […]

Ten major banks are settling with the Federal Reserve to repay bilked borrowers $5.2 billion in direct assistance. The settlement will finally end a review of the foreclosure scandals led by the Office of the Comptroller of the Currency. Consumer advocates say, however, that the settlement does not compensate for the trillions of dollars of […]

The rigging of an international lending rate may have cost Fannie and Freddie Mac $3 billion in borrowing costs. While federal investigators try to unravel the details, several Georgia counties are suing HSBC for sleazy mortgage deals that damaged investors. For a pdf version of the full stories, plus contextual articles in social, environmental and […]

With all the chips on the table, including social and housing programs, all eyes focus on the continuing bargaining as Washington deals with the fiscal cliff. Meanwhile, the legal of fallout of sleazy mortgage deals cut by banks during the housing boom continue to mount. For a pdf version of the full stories, plus contextual […]

As the nation prepares to cut budgets in light of the “fiscal cliff,” federal housing programs for poor households receive increased scrutiny from both parties. Public housing and programs for the disabled and homeless, already underfunded, are set for more pruning and paring. For a pdf version of the full stories, plus contextual articles in […]

As the economy slowly improves, persons pressed into crowded households are relocating to new units, but some stay in extended families. The austere market has responded with mini-houses as small as 200 square feet and “bonus room” houses designed for extended families. For a pdf version of the full stories, plus contextual articles in social, […]

A weak but slowly recovering housing industry become the rally point for the US economy as home equity improves to the point that banks will again lend against it. In Galveston, plans are polished to finally rebuild public housing units destroyed four years ago by Hurricane Ike. For a pdf version of the full stories, […]

Ever-so-slowly moving to reconcile screwing thousands of borrowers, big banks have completed about $22 billion in customer relief through September. Almost 300,000 borrowers are getting refinancing and other breaks to reconcile “underwater” mortgages and fraudulent papers generated at the height of the housing boom. Fraudulent practices continue, however, and federal regulators are now focusing on […]

The plight of mortgage holders appears to have improved somewhat as delinquency rates decline. The priorities of those who overspend their budgets have not changed, however, and auto and credit card payments are paid before mortgages. Meanwhile, home prices are up in cities hardest hit by the recession and discounts are vanishing as the market […]

With high rollers coming to town to take in the F-1 hoopla, Austin police respond to downtown merchants who are suddenly ashamed of the homeless who frequent the streets. Although the number of homeless remains roughly the same as in previous years, the increase in complaints is enough for the police to crack down. In […]

  Tuesday Report, October 30, 2012 Special to the Texas Low Income Housing Information Service In an attempt to pare down a $25 billion settlement for bilking borrowers, Wells Fargo has sent checks to an estimated 10,000 mortgage holders they screwed with “robo signings” and other fraudulent practices – but if the victims cash the […]

The Census Bureau shakes out sad numbers from the Great Recession and finds that the housing bust accounts for most of the 35 percent drop in net family worth. The chain reaction worked its way through the economy with millions of lost jobs and foreclosures. Meanwhile, market analysts follow the housing industry like bloodhounds, marking […]

Some banks are not only too big to fail but they’re too big for cities to serve code violations on their run-down, repossessed houses. For neighborhoods plagued with multiple foreclosures, the blight further deepens the social consequences of the housing bust. Meanwhile, renting has become the norm for many US families who cannot qualify for […]