Articles About Residential

Existing home sales in November rose at a slower pace than anticipated, spurred in part because of the end of a government tax credit aimed at encouraging first-time homeowners to buy.  According to the National Association of Realtors (NAR), sales rose 5.6 percent over October to an annual rate of 4.68 million.  Economists had predicted […]

Illinois ranks as the nation’s worst state to retire in,  according to a study by TopRetirement.com. The nine other losers include California, New York, Rhode Island, New Jersey, Ohio, Wisconsin, Massachusetts, Connecticut and Nevada.  John Brady, TopRetirement.com’s president, says the 10 states belong on this list because of their fiscal health (poor), taxation (high) and […]

The last residents of Cabrini Green have left the infamous Chicago Housing Authority residential project, long a symbol of the failure of public housing in American cities.   Since the Chicago Housing Authority unveiled its “Plan for Transformation” in 2000, more than 1,700 families have been relocated from Cabrini Green to other housing.  Approximately 50 percent […]

The annual ritual of heading to the local Christmas tree lot or cut-it-down-yourself farm is giving way to the age of the internet and online buying.   Even Rick Dungey, a spokesman for the National Christmas Tree Association, has joined the trend, saying “I point and click and it shows up on my front door.  For […]

Sloppy foreclosure paperwork could upset the nation’s housing market and destabilize the economy in general,  according to a report released by the Congressional Oversight Panel.  This group oversees the government bailout and its statement marks the first time a federal watchdog has issued an opinion on the foreclosure issue.  Consumer advocates and financial analysts had […]

One of the biggest albums of the year is “The Suburbs” by the Canadian group, Arcade Fire, which exposes the dark side of urban sprawl.  The band, fronted by the husband and wife duo of Win Butler and Régine Chassagne have created a concept album as emblematic of our generation as The Wall was for […]

Although millions of Americans are paying their under water mortgages on time – sometimes with difficulty — it still could prove to be a source of trouble.  Because home prices are stagnant, many owners are using their hard-earned dollars to pay the mortgage and less on consumer spending.  In the long term, that is not […]

A financing vehicle that has been used in Europe since it was invented in Prussia in 1769 is finding its way to American shores as a replacement for commercial mortgage-backed securities (CMBS).  The vehicle is known as covered bonds, which is a securitized debt instrument backed by a pool of top-quality assets, primarily mortgages. What […]

A recent Washington Post poll found that 53 percent of all Americans are concerned that they will not be able to pay their mortgage or rent, despite the fact that they believe the economy has shown some improvement since the dark days of 2008.  The worry is driven by slow job creation, said Karen Dynan, […]

The ultimate cost of bailing out Fannie Mae and Freddie Mac could cost as much as $154 billion unless the economy improves, according to a government report.  The mortgage giants rescue – which has kept the housing market on life supports – already has cost $135 billion to cover losses on home loans in default.  […]