Wednesday, April 29, 2009

NAHB - "Most Baby Boombers Prefer to Age in Place, But Growing Numbers Head to Age-Restricted Communities" (4-28-09)

"Most Baby Boomers, like their parents, are choosing to 'age in place,' but a large and growing number – more than 1.2 million households – are choosing to move to communities designed to meet their needs, according to a study released today by the National Association of Home Builders (NAHB) and the MetLife Mature Market Institute (MMI). The data is significant because by 2010 the Boomers will represent one quarter of the U.S. population – a group that will greatly impact the choices available in the housing market."

CNN - "U.S. to pay off mortgage investors" (4-28-09)

"The U.S. Treasury Department will Tuesday tap a $50 billion housing rescue fund to pay off mortgage investors and reduce monthly payments for millions of borrowers, said a senior administration official."

Reuters - "Consumers, home prices boost recovery hopes" (4-28-09)

"U.S. consumer confidence posted its biggest jump in more than three years in April while the slump in home prices showed signs of slowing in February, adding to hopes that the recession may be waning. The Conference Board said its sentiment index climbed to 39.2 this month from an upwardly revised 26.9 in March. The April reading, which was above economists' median expectation of a reading of 29.8, was the highest since November 2008."


Bloomberg - "Home Prices in 20 U.S. Cities Declined at Slower Pace" (4-28-09)

"
The decline in home prices in 20 major U.S. cities slowed in February for the first time since 2007, amplifying signals that the market may be stabilizing. The S&P/Case-Shiller index’s 18.6 percent decrease compares with a record 19 percent decline the month before. The gauge has fallen every month since January 2007, and year-over-year records began in 2001."

Orange County Register - "Early foreclosure filings spike across O.C." (4-28-09)

"Notices of default, which initiate the foreclosure process, rose in 76 of 84 ZIPs tracked by DataQuick in the first three months of the year vs. the same period in 2008, or roughly 90% of ZIPs."

Orange County Register - "Requests for property tax reviews up 160%" (4-28-09)

"With home values falling, an increasing number of homeowners will be entitled to a temporary reduction of their property tax. Homeowners qualify for a tax cut if their home’s market value is less than the assessed value on the county’s tax rolls. Generally, homes don’t qualify for a cut unless they were purchased in 2003 or later."

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