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1831 Osage Cir.
Brookfield Properties Corp. reported Wednesday a 4% increase in third quarter funds from operations, as the sale of an office tower helped offset losses caused by damage from Hurricane Ike in Houston.
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Brookfield Properties reports strong 3Q
Improved Existing Home Affordability Causes Rise in Existing-Home Sales
Existing home sales increased in September as buyers responded to improved housing affordability conditions, according to the National Association of Realtors
This past weekend I paid my gas bill. Not a big deal, except for a review of my past winter’s bill made me call the gas company and get on a budget plan. Sarah, the customer service representative at my local gas company, was open to answering some general questions about the state of heating homes and how the economy is affecting the ability for people to pay their gas bill.
Sarah’s frank conversation opened my eyes to the trickle-down effect of homeownership in tough times.
I live in Wisconsin, which has been feeling the economic pain from an induced shot of a troubed 
national economy. Last Monday, General Motors announced it will cease production of SUVs in its Janesville, Wisconsin plant by December 23, affecting 1,200 workers. Additionally, rumors of a Mercy Hospital consolidation in surrounding towns has people talking and worried.
It’s easy to look at the big picture when we take the financial perspective to Wall Street. That’s where the media eye is trained to go. What about the truly hyper-local picture - where one or both incomes of a two-family household might be in danger on Main Street? How do you pay for the mortgage/rent, car loan, gas for the car, daycare, senior care, health insurance, groceries - the true basics?
How do you pay to heat your home? In Wisconsin, where the weather is not yet cold enough to mandate the heat as necessary for living conditions, homeowners’ inability to pay has increased, according to Sarah. If you are shut off before the weather mandates your heat remains on, you will be required to pay a deposit, even with heating assistance, before your heat can be turned back on.
In September, I wrote about LIHEAP (Low Income Home Energy Assistance Program) funding. It was created to help low-income and elderly families with their heating bills. My September 19 post, “Baby, it’s gonna be cold outside … keep heating assistance for low-income families alive”, was an update to a post I wrote last year about LIHEAP funding.
In that post, LIHEAP was trying to raise funding and the President had recently proposed a 22 percent cut in fiscal year 2009 for LIHEAP funding. I am happy to share this news from the LIHEAP website:
“September 30, 2008: President Signs FY09 CR with $5.1 Billion in LIHEAP Funding … This evening, the President signed a Continuing Resolution that increases funding for the Low Income Home Energy Assistance Program to the Congressionally authorized level of $5.1 billion. This historic decision is the result of tireless work by the program’s champions in the House and Senate who recognized the vital need for more money in this program and refused to accept ‘no’ for an answer. ”
The website also recognizes the countless folks who continued to raise their voice in support of LIHEAP. The program will probably need an increase in funds as more people find themselves in a position where they are unable to pay their heating bill - but the first victory has come.
If you are in need of heating assistance, you can download an application by state or receive your state’s contact information at the LIHEAP Clearinghouse website.
I urge those who are not in need to lend their voice to support this effort, as I believe it will be needed. In the meantime, if you know of a neighbor in need, help by pointing them in the direction of this resource and by checking in. Use your knowlege to empower another.
Posted by Rebecca D. Levinson
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The trickle-down effect of homeownership in tough times - you can make a difference
Prospective developers of a 900-acre distribution center will hold a public meeting Sept.
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Public meeting tonight on 900-acre distribution center
Investors remained hesitant to buy into the market, especially after a big rally in the previous session, after a disappointing report that indicated pending U.S. home sales fell more than expected in July as …
Wall Street retreats after home data
With no major Florida hurricanes in the past two years, officials were worried that complacency could cost lives as they repeatedly urged people across the state to take Fay seriously.
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Southwest Florida awaits landfall by Fay
The presidential race, rising costs of oil and gas, extreme weather and food shortages offer enough to hold one’s attention, but eyes remained glued on America’s mortgage crisis.
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Mortgage Meltdown Goes from Bad to Worse
Superior Lake Access Home at Lake Gaston in Littleton, NC - $288,000 - 3 Bedrooms 2 Bathrooms - Superior Lake Access Home at Beautiful Lake Gaston.
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Superior Lake Access Home at Lake Gaston
Unique Lake Front Opportunity on Lake Gaston in Bracey, NC - $359,900 - 3 Bedrooms 2 Bathrooms - Unique Lake Front Opportunity on Beautiful Lake Gaston.
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Unique Lake Front Opportunity on Lake Gaston
With the winter finally over and the sun breaking through between storms, Wednesday afternoon was a prime day for construction in Cedar Falls.
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C.F. homeowners left in limbo by Regency collapse
Housing markets are seasonal, blah, blah, blah, blah, blah.
Its May so we would expect the housing activity would be higher than it would be say in January. The weather is warmer, the birds are chirping, Lawrence is saying things are great. So whats the problem?
You need to compare the current housing market with the same period in the preceding year or years.
Is June better than December in terms of sales activity and price trends? How about May versus January?
Using this logic, these articles seem a little light.
Yet in markets like Sacramento County, median sales price is down 40% since August 2005. As Andrew Leonard in his column writes:
A 40 percent drop. If those are the kinds of numbers required to goose the market back into action, the entire economy still has a lot of pain coming.
However, I like the decline from peak comparisons, so disregard my argument for using seasonality. I am either hot or cold on it, depending on the weather.
[Seasonal Sensibility] Isn’t It Supposed To Get Better In The Spring?
It’s more crazymaking news. Consumer sentiment in May is down to its lowest level since 1980, says a University of Michigan/Reuters survey, likely due to depressed home values and runaway fuel costs.
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Realty Viewpoint: Low Consumer Sentiment, Upbeat Housing Starts Not Contradictory
Media stories on real estate trends and the affect they have on buyer and seller behaviour has been monitored for the first time and the results show the impact is immediate and significant. via Scoop
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Research: Home Buyers, Sellers Influenced by Media
A newspaper says philanthropist Joseph Zilber is scheduled to announce tomorrow that he’s committing $50 million during the next 10 years to improve life in Milwaukee’s low-income neighborhoods. via WBAY
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Philanthropist to announce committing $50 million in Milwaukee
