Despite the law, Latinos are still receiving “adverse treatment” across Virginia — that’s the result of an investigation across Virginia by the Equal Rights Center and the law firm of Drinker Biddle & Reath.
Essentially, they conducted “matched-pair” test inquiring about rental properties. That means they sent ‘equivalent’ whites and Latinos to ask about the same properties — ages, martial status, income, etc., were the same.
“In 55 percent of tests,” the report found, “the Latino tester received adverse, differential treatment as compared to the white tester, in at least one respect.”
A bill being introduced in Congress by Reps. Joe Donnelly (D-IN), Stephen Fincher (R-TN), and Gary Miller (R-CA) is trying to fix what the legislators feel is an unintended consequence of new rules from the Consumer Financial Protection Bureau that cover "predatory" or "high-cost" loans.
Here’s the deal: Mobile or manufactured homes typically cost a lot less than a typical suburban property. Basic math means that the cost of originating and servicing loans for those properties might be the same in terms of dollars, but are much higher, percentage-wise, in a small loan.
The first quarter 2013 Virginia Home Sales Report has been released and year-over-year state wide indicators show that the housing market in Virginia continues to experience steady improvement.
Interesting story in the Financial Times about how immigrants to the U.S. have not only been key to the housing recovery, they will remain key to the market. It’s based in part on a report from Housing America and the Mortgage Bankers Association.
Some key points:
It’s not small, it’s “cozy.” It’s not in the middle of nowhere; it’s “private.” It’s not poorly insulated and falling apart; it’s “rustic.” And now, as Cindy Jones over at Virginia Real Estate Talk points out, for some developers you apparently don’t have a master bedroom — you have an “owner’s suite.” No word on what that means for rentals. Hopefully your landlord doesn’t snore.
Real estate investors have helped the market recover. But for the long-term health of the market, maybe they should stop now.
(To be clear: By “investors” I mean people and companies that buy single-family homes to turn them into rentals, not house-flippers.)
Here’s what’s worth watching: When all those foreclosures went on the market at deep discounts, investors began snapping them up. That was a good thing, because there was so much inventory out there that prices were staying low.
Once most of that distressed inventory was gone, though, conventional wisdom said that investors would ease off. Prices would go up and the great deals would be gone.
Each year, EarthCraft Virginia presents awards in a variety of categories to builders, developers, and others throughout the region who demonstrate superior dedication to the advancement of sustainable housing. The Single Family Project of the Year went to an efficient solar home in Alexandria, VA. Patrick Fogarty, broker and co-owner of HomeFirst Realty was this year’s winner for building a new home with incredible energy saving qualities for about the same price as a typical new home.
Here’s an interesting stat: Since mid-2005, Americans are driving less — much less, especially younger folks. You know, the next generation of home buyers?
What’s notable is that — unlike the last time there was a drop in driving, back in the 1980-84 recession — this time the drop appears to be much longer lasting. It’s been 92 months already.
According to the Frontier Group, which did the study, the trend is most noticeable among young people.