HUD: $144 Million Awarded to Revitalize Five Severely Distressed Neighborhoods
Federal investments expected to generate more than $1 billion in neighborhood reinvestment U.S. Housing and Urban Development (HUD) Secretary Ben Carson today announced five communities across the country will receive a combined $144 million to redevelop severely distressed public or assisted housing and to revitalize surrounding neighborhoods. Provided through HUD’s Choice Neighborhoods Initiative, these grants,…
HUD and Census Bureau: Residential Construction Activity Report for June 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for June 2018. Building Permits: Privately owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,273,000. This is 2.2 percent (±1.2 percent) below the revised…
HUD: $243 Million Disaster Recovery Plan Approved for U.S. Virgin Islands
Funding will target housing, infrastructure and economic development U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced he is approving a disaster recovery plan to help citizens in the U.S. Virgin Islands to recover from Hurricanes Irma and Maria. In November, HUD allocated $243 million to the U.S. Virgin Islands to…
HUD: $616 Million Florida Disaster Recovery Plan Approved
Funding will target housing, infrastructure and economic development recovery WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced he is approving a disaster recovery plan to help Floridians recover from Hurricane Irma. In November, HUD allocated $616 million to the Sunshine State to support long-term recovery efforts. The Florida…
HUD: Winners of 2018 Healthy Homes Awards Announced
Model programs in Baltimore, MD, Fort Collins, CO, Milwaukee, WI, and a Research Study Earn HUD Secretary’s Award The U.S. Department of Housing and Urban Development (HUD) and the National Environmental Health Association (NEHA) are pleased to announce the winners of the 2018 HUD Secretary’s Award for Healthy Homes, an award recognizing excellence in making…
HUD: $5 Billion Texas Disaster Recovery Plan Approved
Funding will target long-term housing, infrastructure and economic development recovery U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today approved a disaster recovery plan to help Texans recover from Hurricane Harvey. In November, HUD Deputy Secretary Pamela Hughes Patenaude announced the allocation of more than $5 billion to the Lone Star State…
FHFA: House Price Index Up 0.1 Percent in April 2018
U.S. house prices rose in April, up 0.1 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.1 percent increase in March was revised upward to 0.2 percent. The FHFA monthly HPI is calculated using home sales price information from mortgages…
FHFA: Foreclosure Preventions Top 4.1 Million In 2018 First Quarter
The Federal Housing Finance Agency (FHFA) today released its first quarter 2018 Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 68,378 foreclosure prevention actions in the first quarter of 2018, bringing the total number of foreclosure prevention actions to 4,108,636. The Enterprises’ serious delinquency rate dropped to 1.1 percent…
FEDS Notes: Where’s the Money Going? The Importance of Accounting for Rent Payments in Measuring a Household’s Financial Obligations
Andrew C. Chang, Joanne W. Hsu, Sarah J. Pack, and Michael G. Palumbo 1 According to the Federal Reserve Board’s Survey of Consumer Finances (SCF), in 2016 about 12 percent of American families’ monthly income was needed to cover payments associated with the various types of debt they owed–mostly mortgages, car loans, student loans, and…
HUD and Census Bureau: Residential Construction Activity Report in May 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for May 2018. Building Permits: Privately owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,301,000. This is 4.6 percent (±1.4 percent) below the revised…