Harvard University's Joint Center for Housing Studies at the Ford Foundation in New York City. (We'll have more news from the event later this week.)The nation's housing industry should remain mired in an epic slump for the rest of 2009, but the longer-term picture is not all doom and gloom, according to the "The State of the Nation's Housing 2009" report, to be presented on Monday by
Federal law enforcement officials recently announced charges have brought against 41 defendants in five separate cases in Chicago. The cases involve more than $48 million in fraudulently obtained mortgages for dilapidated homes in urban areas as well as deals involving million dollar condominiums in a Chicago high-rise and sprawling homes in affluent suburbs like Wheaton and Glenview. The vice president of a title company, mortgage brokers, loan officers, appraisers, real estate investors and an attorney are among the 37 defendants charged.
Lately, mortgage brokers, builders, real estate agents and others in the housing business have been moaning about appraisals. On Tuesday, it was the turn of Lawrence Yun, the chief economist of the National Association of Realtors. He lamented that May home sales were “less than expected because poor appraisals are stalling transactions. Pending home sales indicated much stronger activity, but some contracts are falling through from faulty valuations that keep buyers from getting a loan.”10 Things Moving Companies Won't Say
The moving industry packs in nearly 55 percent of its business during the summer months, but often leaves a trail of frustrated consumers in its wake. The Department of Transportation receives up to 4,000 household moving complaints annually, mostly about loss and damage, poor service, or overcharging. The , meanwhile, reports that complaints about movers jumped from nearly 3,800 in 1997 to more than 9,200 in 2007.
Additional news from around DC region:
- Q&A: Sally Wilson on the USGBC Headquarters, LEED Fine Print, and Negotiating a Green Lease [Metropolis]
- Montgomery Approves Project Before Moratorium [Washington Post]
- Eastern Market reopens after $22M renovation [Wash Biz Journal]
- Index finds D.C. has best 'brain smarts' in U.S. [WTOP]
- Looking for a rent-free home on a lot of land [Real Estate Wonk]
- "Not Paying the Mortgage Yet Stuck with the Keys" [Hot Property]
- Prince William transfers Silver Lake to Park Authority [DC Examiner]
- Cuts Coming to Community Center Hours [Arlington Gazette]
- Experts: Investment in Green Amenities Pays Dividend [Gazette]
- DDOT Launches Real Time Circulator Mobile App [DCist]
- F.C. Council Unanimous in Bid to Convert City to 'Green Lab' [FCNP]