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Economy

Federal initiative to aid HFAs announced

News broke this afternoon of a new federal initiative to help housing finance agencies, such as VHFA.

The plan is part of the Obama administration's Homeowner Affordability and Stability Plan.

Read about it at the U.S. Treasury site.

Report: ACTION proposals would lead to housing investment

A recent report by Ernst & Young says if proposals made by Affordable Rental Housing A.C.T.I.O.N. are adopted by Congress, investment in affordable housing development will increase substantially.

The report estimates investment in large and small housing developments in metro and rural regions across the country is likely to increase by nearly 50 percent in 2010 and '11.

Burlington Free Press: Housing market showing recovery

The Burlington Free Press included a story in yesterday's edition headlined "Housing market showing recovery."

Dan McLean writes, "In Vermont, the pace of home sales has quickened in recent months, but sales prices remain below last year's levels."

Read the article online.

Forest Park in Rutland Herald

In light of $2.34 million in federal stimulus funding coming to help restore Forest Park in Rutland — Read our previous post — the Rutland Herald has published a story looking at the history of that early-'70s housing development.

VHFA Executive Director Sarah Carpenter is quoted in the piece by staff writer Stephanie Peters.

Opinions vary on tax credit's effect

In an article published in yesterday's Barre-Montpelier Times Argus, writer Bruce Edwards quotes a number of housing insiders about the effects of the first-time homebuyer tax credit on home sales in Vermont.

Opinions vary.

VHFA Executive Director Sarah Carpenter is one of many people quoted.

Read the article online.

Homebuyer tax credit extension proposed

senator isaksonThere's activity in the U.S. Senate to extend the deadline and amount of this year's tax credit for first-time homebuyers.

Clock ticking: Homebuyer tax credit ends soon

The deadline to take advantage of one element of the American Recovery and Reinvestment Act (ARRA) is fast approaching.

First-time homebuyers might be eligible for a tax credit equal to 10 percent of the home’s purchase price, up to a maximum of $8,000.

But you have to make your purchase on or after Jan. 1, 2009, and before Dec. 1, 2009.

Ask your VHFA participating lender for details.

NHC makes suggestions for repairing mortgage market

conrad eganThe National Housing Conference (NHC), an affordable housing advocacy organization in Washington, D.C., has released 10 suggestions to help repair the mortgage market and reduce the rising number of foreclosures.

Vermont's banking industry in Livin' magazine

livin the vermont way coverThe September/October issue of Livin' the Vermont Way magazine features a story titled "Hunkering Down: Vermont's banks weather the economic storm."

Swanton project in Free Press

In this morning's edition the Burlington Free Press made mention of the $1.4 million in federal funds coming to Vermont for Blake Commons in Swanton.

Read the story online.

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