Moodys Economy

The Urban Land Institute’s 2010 “Housing In America: The Next Decade”

It is important for all of us to deal with reality in the midst of one of the biggest housing crisis in decades. You know I am looking for ways to make lemonade out of lemons in all aspects of my life.  So, I don’t know how I missed this very important report regarding the 2010 predictions outlined in Ronald Terwilliger’s research paper Housing in America: The Next Decade. The report was presented at the January 26, 2010 meeting of the Urban Land Institute Trustee meeting.  One of the key authors was Ronald Terwilliger – the chairperson of the Urban Land Institute.  There are many different aspects of the report you will want to read so take some time to do so.  Mr. Terwilliger writes about two major hurdles the 2010 housing market is experiencing in 2010.  Here is a brief review of both points. Read more

Moodys Economy

East Bay Real Estate News: Housing Tax Credit To Be Extended?

Tax Credit Update From Jim Walberg: Last week I sent out the alarm for home buyers to take action or lose out on the Federal tax credit that is ending November 30^th.  Today Senate Majority Leader Harry Reid said that the Senators have actually agreed to extend the First Time Homebuyers Tax Credit past November 30^th.  The proposal on the table has the $8,000 credit extended until April 30, 2010.  PLUS, a $6,500 tax credit would be given to homeowners who have lived in their house for the past five consecutive that purchase their next primary residence.  The credit would be available to individuals who make less than $125,000 a year,  or couples who make less than $225,000.  This is $50,000 to $100,000 more than the last income ceiling in order to qualify.  A strategy that is being proposed in order to have it accelerate through Congress is by attaching the bill to the one extending unemployment benefits – a smart move by Senator Reid. Read more