{"id":5277,"date":"2010-08-06T14:48:18","date_gmt":"2010-08-06T19:48:18","guid":{"rendered":"https:\/\/bhgrealestateblog.com\/?p=5277"},"modified":"2024-12-30T11:24:54","modified_gmt":"2024-12-30T16:24:54","slug":"week-in-review-things-we-liked-from-the-week-that-was-31","status":"publish","type":"post","link":"https:\/\/bhgrecareer.com\/bebetterblog\/week-in-review-things-we-liked-from-the-week-that-was-31\/","title":{"rendered":"Week in Review: Things We Liked from the Week That Was"},"content":{"rendered":"<p style=\"text-align: justify\">President Obama, <a href=\"http:\/\/wiki.answers.com\/Q\/How_old_is_Barack_Obama\">born August 4, 1961<\/a>, celebrated his <a href=\"http:\/\/content.usatoday.com\/communities\/entertainment\/post\/2010\/08\/obama-celebrates-birthday-with-oprah-in-chicago-\/1\">49<sup>th<\/sup> birthday<\/a> this week.\u00a0 The same year the President was born, the lobby group <a href=\"http:\/\/www.hud.gov\/offices\/fheo\/aboutfheo\/history.cfm\">National Committee against Discrimination in Housing (NCDH)<\/a> released a report which found that private mortgage lenders continued to \u201cprofit from Federal benefits, chartering and insurance\u201d yet still <a href=\"http:\/\/www.prrac.org\/pdf\/freund.pdf\">\u201cdeny loans on the basis of race and religion.\u201d<\/a> It seems almost unfathomable that the parents of the man who would grow up to lead the nation faced an environment in which the pursuit The American Dream of home ownership could have been denied for wholly unfair reasons.<\/p>\n<p style=\"text-align: justify\">The housing market is still experiencing withdrawal from the tax credit as <a href=\"http:\/\/money.usnews.com\/money\/personal-finance\/articles\/2010\/08\/03\/housing-market-takes-another-step-backwards.html\">pending home sales<\/a> dropped nearly <a href=\"http:\/\/www.google.com\/hostednews\/ap\/article\/ALeqM5jljsJcu7uX4H65Rj0zDRmPQvMEQAD9HC2A200\">3 percent<\/a> in <a href=\"http:\/\/www.businessinsider.com\/pending-home-sales-hit-new-record-low-again-2010-8\">June<\/a> to its lowest level on record. Experts agree that pending home sales could remain low in coming months, creating a plethora of <a href=\"http:\/\/blogs.wsj.com\/developments\/2010\/08\/03\/glut-of-houses-holds-back-housing-market-economy\/\">inventory<\/a> &#8212; there are currently<a href=\"http:\/\/blogs.wsj.com\/developments\/2010\/08\/03\/glut-of-houses-holds-back-housing-market-economy\/\"> 2.5 million vacant homes<\/a> in the country &#8212; and putting downward pressure on houses.<\/p>\n<p style=\"text-align: justify\">Over the past few years, <a href=\"http:\/\/www.smartgrowth.org\/about\/principles\/default.asp?res=1280\">&#8220;smart growth,<\/a>&#8221; or the shift to <a href=\"http:\/\/abcnews.go.com\/Business\/wireStory?id=11311919\">urban-style living in the suburbs<\/a>, has popped up in communities nationwide. These compact, walkable neighborhoods are more attractive to baby boomers and their children than the1950\u2019s suburban model of car-dependent and open spaces. It will be interesting to see the future of this movement.<\/p>\n<p style=\"text-align: justify\">Homeowners facing <a href=\"http:\/\/www.nytimes.com\/2010\/08\/01\/realestate\/01mort.html?_r=1&amp;adxnnl=1&amp;ref=realestate&amp;adxnnlx=1280757643-XwdhjqpqWHwngINozGm0PQ\">\u201cunique hardships\u201d<\/a>&#8212; those who have a spouse who is injured or killed in military duty or if they are forced to vacate a home to replace defective drywall&#8211; are getting help from Fannie Mae. The agency will allow these borrowers to skip up to six months of payment. I\u2019m glad to see that in times of asperity, these people will have one less thing to worry about. Speaking of assistance, the Obama administration plans to send <a href=\"http:\/\/www.usatoday.com\/money\/economy\/housing\/2010-08-04-housing-aid-states_N.htm\">$600 million to help unemployed homeowners<\/a> avoid foreclosure in North Carolina, Ohio, Oregon, Rhode Island and South Carolina.<\/p>\n<p style=\"text-align: justify\">On day 108 of the <a href=\"http:\/\/www.nola.com\/news\/gulf-oil-spill\/index.ssf\/2010\/05\/gulf_oil_spill_is_biggest_envi.html\">biggest oil spill<\/a> in our country\u2019s history, homeowners in the Gulf region dealt with a further blow. CoreLogic reported this week that <a href=\"http:\/\/www.housingwatch.com\/2010\/08\/02\/gulf-coast-homes-expected-to-lose-56k-in-value-on-average\/\">600,000 properties<\/a> will lose an estimated <a href=\"http:\/\/www.businessweek.com\/news\/2010-08-02\/bp-spill-may-cost-gulf-coast-homes-56-000-apiece-in-value.html\">$56,000 each in value.<\/a> This is a far cry from Berkeley, California where a report from ZipRealty shows that the city the <a href=\"http:\/\/www.housingwatch.com\/2010\/07\/23\/berkleys-hot-floridas-cold-says-new-real-estate-report\/\">best place to sell a home<\/a> as they are going for an average of nearly 108 percent of asking price.<\/p>\n<p style=\"text-align: justify\">Check out <a href=\"http:\/\/www.forbes.com\/2010\/06\/17\/best-cities-young-professionals-lifestyle-real-estate-careers_slide.html\">Forbes<\/a>\u2019 list of the<a href=\"http:\/\/realestate.msn.com\/slideshow.aspx?cp-documentid=25081979\"> best cities<\/a> for young professionals to have the best chance for success based on unemployment and cost of living, among other things. What do you think of the list? Where did you start out your career?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Obama, born August 4, 1961, celebrated his 49th birthday this week.\u00a0 The same year the President was born, the lobby group National Committee against Discrimination in Housing (NCDH) released a report which found that private mortgage lenders continued to \u201cprofit from Federal benefits, chartering and insurance\u201d yet still \u201cdeny loans on the basis of [&hellip;]<\/p>\n","protected":false},"author":181,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61],"tags":[1821,3101,3281,3681,3701,4591,5151,5261,6681,6951,8901,9711,9841,12291,14271,14431,15261,15871,17241,17611,17711,19021,19511,19861,23831,24431,25641,27471,27631,28351,28551,29481,29841,29861,30461,30721,30901,32581,33041,33741,36191,36351,36811,37601,40461,41661,42301,44681,44811,44941,47551],"class_list":["post-5277","post","type-post","status-publish","format-standard","hentry","category-commentary","tag-american","tag-baby-boomers","tag-barack-obama","tag-benefits","tag-berkeley","tag-birthday","tag-borrowers","tag-bp","tag-california","tag-career","tag-communities","tag-corelogic","tag-cost-of-living","tag-drywall","tag-fannie-mae","tag-federal","tag-forbes","tag-future","tag-government","tag-growth","tag-gulf","tag-home-sales","tag-homeowners","tag-housing","tag-lenders","tag-loans","tag-market","tag-model","tag-mortgage","tag-national-committee-against-discrimination-in-housing","tag-neighborhoods","tag-north-carolina","tag-ohio","tag-oil-spill","tag-oregon","tag-ownership","tag-parents","tag-president","tag-professionals","tag-race","tag-religion","tag-report","tag-rhode-island","tag-sales","tag-south-carolina","tag-suburbs","tag-tax-credit","tag-unemployment","tag-urban","tag-vacant","tag-ziprealty"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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