July 31st, 2008
Bush signs housing stimulus bill
Pres. Bush signed the housing stimulus billinto law yesterday. Let’s hope it provides some hope the millions of U.S. homeowners facing foreclosure.
Pres. Bush signed the housing stimulus billinto law yesterday. Let’s hope it provides some hope the millions of U.S. homeowners facing foreclosure.
Each day, I stumble across another story that illustrates just how serious the mortgage crisis has become in this country.
According to a report from the Corporation for National and Community Service, Chicago ranked only 37th among 50 large cities in the percentage of adult residents who volunteer their time to serve worthwhile causes.
It’s not the best way to start off a new week, but here we go: The sales of newly built homes continued to drop last month.
But no one can say that the editors at Crain’s Chicago Business aren’t working extra hard — maybe a bit too hard — to find the good news in the local housing market.
According to RealtyTrac, a national provider of foreclosed properties, one in every 171 households received a foreclosure notice in the second quarter of this year. That’s an increase of 121 percent compared to the same quarter one year earlier.
The sales of existing homes — which includes single-famiy homes, condominiums, townhouses and co-ops — fell 2.66 percent in June. This puts yearly sales down 15.5 percent, so far, from last year. And remember that everyone thought last year was a terrible one for home sales?
t finally happened yesterday: The U.S. House of Representatives approved a sweeping measure that provides aid to U.S. homeowners facing foreclosure and assistance to mortgage giants Freddie Mac and Fannie Mae.
Think you’re having trouble selling your home in today’s struggling real estate market? Try selling a house that isn’t finished.
How far is your commute to your job? Is it longer than 40 minutes each way? If it is, don’t be surprised if the value of your home has fallen.
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