Tag Archives: fannie mae

Fiscal Cliff, Slow Progress Darken Housing Forecast: UMD Expert

COLLEGE PARK, Md. – After its greatest collapse in 80 years, the housing market appears to be bottoming out with stabilizing home prices and many markets experiencing price gains. Still, “it may be premature to call this a ‘real recovery,’” says Cliff Rossi, Tyser Teaching Fellow and executive-in-residence for the University of Maryland’s Robert H. Smith School of Business. “Looking into 2013, the ‘fiscal cliff,’ regulatory reform and other factors could put a drag on markets through the year.”

Despite historically low interest rates, potential buyers face a lot of questions before jumping in on what is their largest investment. For sellers, conditions continue to build on 2012’s nascent recovery. But will credit be readily available for first-time and repeat homebuyers? Will there be additional efforts to help struggling homeowners under water on an existing mortgage? (more…)

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Why Russians Think Americans Don’t Own Their Homes

*UA sociologist Jane Zavisca says the two countries are polar opposites when it comes to mortgage financing.*

When the Soviet Union disintegrated in 1991, one of the structural problems the new government and free-market economy had to deal with was housing. Most Russians lived in government-owned apartments that had been built beginning in the late 1950s. The question then became, who owned all of that Soviet-era housing?

In her new book, “Housing the New Russia,” due to be published by Cornell University Press, Jane Zavisca said the new Russian government dealt with it by announcing that this huge stock of apartments was, as of 1992, privately owned. (more…)

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