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NEWS
By Eric S. Belsky | November 13, 2009
H ere's a radical notion: Let's rethink the cult of homeownership in America. Why, a sensible person might ask, do we need to do this when millions of homeowners faced foreclosure in the last year alone, and an estimated 15 million more own homes worth less than their mortgages? Clearly, one might conclude, the bloom is already off the homeownership rose. The answer is simple. Even in the middle of this collapse, when people were asked about their expectations for house price appreciation over the next year, the answers shock.
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BUSINESS
By Natalie Sherman, The Baltimore Sun | December 28, 2013
Donnell Spivey was a 32-year-old Amtrak employee when he decided to start investing in real estate, but what began as a sideline quickly became a career. He entered the business with Baltimore-based Otis Warren Real Estate Co., and later worked for Ellicott City's RE/MAX 100 Real Estate Co. for 18 years, where for many years he averaged $8.5 million in sales annually. In 2004, Spivey founded his own company in Ellicott City, EXiT Spivey Professional Realty, which won recognition from Rep. Elijah E. Cummings as the first African-American-owned brokerage in Howard County.
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NEWS
By Eric John Abrahamson | May 28, 2013
As the five-year anniversary of the Lehman Bros. bankruptcy and the collapse of the mortgage market approaches, Americans are still struggling to cope with the consequences of the Great Recession. More than 4 million households have lost their homes to foreclosure. Millions of breadwinners are still out of work. Meanwhile, households have seen an estimated $2 trillion in wealth evaporate. Pundits and politicians have spent nearly five years pointing fingers, but too few have questioned the root cause of the crisis: a deeply held belief that Americans should own their own homes and that the government should help make that dream possible.
NEWS
By Dan Ellis | August 26, 2013
Earlier this year, Baltimore's challenge to the 2010 Census established that the city had 621,074 residents on April 1, 2010. This revised number will now be used by Mayor Stephanie Rawlings-Blake as the baseline for counting toward her goal of growing the city's population by 10,000 families (22,000 people) in a decade. We're already on the way with 621,342 people as of March, and Neighborhood Housing Services of Baltimore, the nonprofit organization that I lead, has more good news on that front.
BUSINESS
By Steve Kilar and The Baltimore Sun | February 26, 2013
Central Maryland's rate of homeownership, the proportion of households that are owner-occupied, was slightly lower in the fourth quarter of 2012 than during the same time a year earlier, according to data recently released by the U.S. Census Bureau. Just over 65 percent of occupied homes in Baltimore and six surrounding counties - Anne Arundel, Baltimore, Carroll, Harford, Howard and Queen Anne's - were owned by someone who lived there, the Census Bureau reported. In the fourth quarter of 2011, the homeownership rate in the region was 67.5 percent.
NEWS
By Dan Ellis | August 26, 2013
Earlier this year, Baltimore's challenge to the 2010 Census established that the city had 621,074 residents on April 1, 2010. This revised number will now be used by Mayor Stephanie Rawlings-Blake as the baseline for counting toward her goal of growing the city's population by 10,000 families (22,000 people) in a decade. We're already on the way with 621,342 people as of March, and Neighborhood Housing Services of Baltimore, the nonprofit organization that I lead, has more good news on that front.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,Sun Staff Writer | December 11, 1994
The continued increase in the number of single-person households will drive up homeownership rates in the next five years despite a parallel decline in the traditional "Ozzie and Harriet" model, predicts a top economist with the Federal Home Loan Mortgage Corp."
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,Sun Staff Writer | May 23, 1995
Reversing America's declining rate of homeownership will require a new round of public-private partnerships -- not more government intervention -- a top federal housing official told community bankers in Baltimore yesterday.Nicolas P. Retsinas, second in command at the Department of Housing and Urban Development, offered a glimpse of the Clinton administration's upcoming strategy to get more people into homes."There continue to be serious unmet housing needs in this country," with "serious discrepancies in housing conditions and access to credit," said Mr. Retsinas, assistant secretary for housing.
BUSINESS
By Jamie Smith Hopkins | jamie.smith.hopkins@baltsun.com | March 23, 2010
Interest rates and home prices haven't fallen enough to put homeownership in reach of many moderate-income workers in the Baltimore area, a new study suggests. A home buyer would need to make $70,000 to afford the Baltimore metro area's median home price of $235,000, according to the Paycheck to Paycheck report released Tuesday morning by the Center for Housing Policy. But local police officers and elementary school teachers make about $52,000, licensed practical nurses make about $41,000 and retail salespeople earn about $23,000, the center said.
NEWS
By NEAL R. PEIRCE | June 7, 1995
Washington. -- The federal government's new homeownership initiative, kicked off by President Clinton at a White House ceremony Monday, is a Washington exception.It's not a piece of legislation or an executive order, not a regulation, not a new office, not even an appropriation.Instead, it's a shared commitment to add 8 million new homeowners, to boost homeownership to an all-time high of 67.5 percent of American families, by the year 2000.And while the Department of Housing and Urban Development is the initiator, the new National Partnership for Homeownership includes more than 50 partners, public and private, federal, state and local.
NEWS
By Eric John Abrahamson | May 28, 2013
As the five-year anniversary of the Lehman Bros. bankruptcy and the collapse of the mortgage market approaches, Americans are still struggling to cope with the consequences of the Great Recession. More than 4 million households have lost their homes to foreclosure. Millions of breadwinners are still out of work. Meanwhile, households have seen an estimated $2 trillion in wealth evaporate. Pundits and politicians have spent nearly five years pointing fingers, but too few have questioned the root cause of the crisis: a deeply held belief that Americans should own their own homes and that the government should help make that dream possible.
NEWS
April 22, 2013
The recent article regarding the Goldseker Foundation's decision to hire Matt Gallagher, Gov. Martin O'Malley's chief of staff, reminds me of the role Morris Goldseker and other real estate investors played in providing homeownership for many minorities in the inner-city after World War II ("O'Malley's staff chief to lead Goldseker Foundation," April 18). Mr. Goldseker was one of the largest residential real estate investors active in Baltimore. He purchased typical Baltimore city row houses, made improvements and sold them to potential buyers under land installment contracts where the potential buyers began as tenants paying what amounted to a fair rent and, if they fulfilled the terms of their contracts, acquired title to the property, usually within 10 to 12 years.
BUSINESS
By Steve Kilar and The Baltimore Sun | February 26, 2013
Central Maryland's rate of homeownership, the proportion of households that are owner-occupied, was slightly lower in the fourth quarter of 2012 than during the same time a year earlier, according to data recently released by the U.S. Census Bureau. Just over 65 percent of occupied homes in Baltimore and six surrounding counties - Anne Arundel, Baltimore, Carroll, Harford, Howard and Queen Anne's - were owned by someone who lived there, the Census Bureau reported. In the fourth quarter of 2011, the homeownership rate in the region was 67.5 percent.
NEWS
By Doyle McManus | February 6, 2013
Would you support a tax reform measure that could help reduce the federal deficit, remove a needless distortion in the economy and make the system fairer? Me too, which is why I'm taking aim at a sacred cow: the home interest mortgage deduction. That's right, the mortgage interest deduction that every homeowner, including me, loves. If you listen to home builders and real estate agents, they'll tell you that the mortgage interest deduction is what makes homeownership possible for millions of Americans.
NEWS
By Edward J. Pinto | December 31, 2012
Imagine that a federal agency wanted to hurt America's working-class families on purpose. How would it inflict maximum damage? It might start by aggressively marketing homeownership to marginal borrowers. It would tell them that bad credit scores aren't a problem. It would push them into homes they can't afford, saddle them with loans that barely build equity and provide no incentives for fiscal discipline. And when many of these homes go underwater and into foreclosure, it would leave families in financial ruin.
EXPLORE
By L'Oreal Thompson | August 23, 2012
It's been said it takes a village to raise a child, but in this scenario, it takes a community to build a home. For the past seven years, Habitat for HumanitySusquehanna and Harford Technical High School, a vocational school in Bel Air, have partnered to build homes for those in need. This summer, the students were able to give back to one of their own and help an alumna achieve the American dream of homeownership. “It's really nice,” says the new homeowner, Kimberly Johnson of Aberdeen.
NEWS
Dan Rodricks | December 20, 2011
Here's the biggest reason Baltimore's property tax rate is the highest in the state and twice that of the surrounding counties: We have most of the region's poor people. About one in four Baltimore residents is officially poor, according to the U.S. Census Bureau. From 2006 through 2009, Baltimore's poverty rate was around 20 percent. But the Census Bureau's survey for 2010 put the rate at 25.6 percent. And that being 15 percentage points higher than the poverty rate for Maryland, and poverty being related to a thorny array of other problems, it follows that taxes would be higher in Baltimore.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | January 3, 2011
Apartment complexes in the Baltimore region are raising rents as a muted economic recovery and a foreclosure crisis have discouraged homeownership — and added to the ranks of renters. Rental costs rose more than 6 percent to about $1,120 in the Baltimore metro area last year, according to preliminary numbers from MPF Research, a Texas-based company that tracks the industry. Those effective rents, or the monthly tab minus waived application fees and other concessions, rose even more in the upscale part of the market, Alexandria, Va.-based real estate research firm Delta Associates found.
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