Tag Archives: mortgage

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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10 Reasons Why It Has Become So Soul-Crushingly Difficult To Find A Job In America Today

Have you been unemployed lately?  If so, then you probably know how frustrating it is to try to find a job in the United States today. It now takes the average unemployed worker about 33 weeks to find a job.  There are millions of Americans that have not been able to find a full-time job even after searching hard for an entire year.  Some areas of the United States have been devastated so badly by the economic downturn that they are starting to resemble war zones. 

Unless you have been there, it is hard to even try to describe the extreme frustration that one feels when you are unable to pay the mortgage and feed your family.  It can be absolutely soul-crushing.  But it is not the fault of those who are unemployed.  The truth is that our economy is dying and it is not producing nearly enough jobs anymore.  Unfortunately, as you will see from the facts listed below, most of the things that are causing our economy to die have no realistic chance of being changed any time soon.

The following are 10 reasons why it has become so insanely difficult to find a job in America today…. (more…)

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Some Banks Help Keep Mortgage Holders Out of Default, Studies Find

COLUMBUS, Ohio – While the nation’s foreclosure crisis has focused blame on bad loan practices by some lenders, new research shows how some banks may have actually reduced the default risk of their homebuyers.

Researchers found that low-income homeowners who received a mortgage from a local lender were less likely to default on their loans than are those who borrowed from a more distant bank or mortgage company. (more…)

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