Affordable housing builder may take over Charlotte-Mecklenburg Development Corp.
Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today. Improving market indicators include home prices, purchases of new homes, and sales of existing homes according to the report. As indicated in the August housing scorecard, the Administration continues to work to stabilize the housing market and help responsible homeowners get back on their feet, said HUD Deputy Assistant Secretary for Economic Affairs Kurt Usowski. With the number of underwater homeowners decreasing by more than 40%, it is clear that we are moving in the right direction.
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Housing could sputter when Fed takes foot off economy’s gas
was founded as a public-private partnership among the city, Mecklenburg County and the Charlotte Chamber of Commerce in 1997. Among the projects developed by the nonprofit agency were the Greenway Business Center, CityWest Commons Shopping Center and Wilkinson Business Park . The development agencyas self-financing business model faltered during the recession and began operating under a deficit in 2012, according to the city. If approved by council, the Housing Partnership would assume the agencyas responsibilities in revitalizing commercial property in the cityas distressed areas under a $330,000, two-year contract. City staff recommends the funding to come out of Charlotteas share of the Metropolitan land sale proceeds .
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Its very low by historical standards. During the 1980s, the average rate over the decade for a 30-year fixed mortgage was 11.70 percent. In the 1990s, it averaged 8.12 percent. Newport expects the average rate at the end of this year to be view publisher site around 4.54 percent for a 30-year fixed-rate loan, climbing to 4.68 percent by the end of next year and 5.16 percent at the end of 2015. The National Association of Realtors projects about 4.2 percent this year, 5.1 percent next year and about 5.5 percent in 2015.
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