Thursday, December 20, 2007
The United States Senate passed a landmark FHA modernization bill (S. 2338) that could help stabilize the housing finance crisis. Because there are significant differences between the recently passed Senate legislation and the bill passed earlier this year by the House of Representatives (H.R. 1852) a conference committee with members of the House and Senate will be appointed to reconcile the differences.
Senate action on legislative overhaul of the Federal Housing Administration, was delayed nearly a month because of a hold by Tom Coburn, R-Okla. Earlier this month REALTOR® members from key states participated in a "fly-in" to directly lobby Senators and Staff members to urge action on S. 2338. REALTOR® Members from Oklahoma lobbied Senator Coburn's office to impress upon him the importance of acting on FHA Modernization. the Oklahoma Association of REALTORS® also engaged in a state-wide Call For Action and submitted letters to the editors of key newspapers i...
| Posted by maricela at 10:37 AM |
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Tuesday, December 11, 2007
Beyond the current cyclical downturn in the nation's home building industry, strong underlying demand for housing should produce a healthy resurgence in residential construction, according to a report published last month by the Harvard University Joint Center for Housing Studies.
According to the projections of the analysts who worked on the study, sustainable demand for housing is conservatively measured at 19.5 million for 2005 through 2014 - or an annual average of 1.95 million.
By 2007, yearly average projections for the period decline somewhat because of the oversupply that occurred in the market as a result of the housing boom. Analysts at Harvard calculate that the period they scrutinized may well have begun with an oversupply of 500,000 to 750,000 units, to which another 250,000 excess units were added in 2005 and 2006 as the boom began winding down.
However, even assuming that the extent of the oversupply was as large as 1 million, the economists reported that th...
| Posted by maricela at 9:49 AM |
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