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Economy

Incidence of underwater mortgages varies greatly by region

About 31 percent of American homeowners with mortgages owe more on their mortgages than their home is worth, according to a

Federal analysts predict a 2013 recession unless Congress acts on fiscal issues

Automatic federal tax increases and spending cuts due to take effect this year are likely to push the economy into a recession in 2013, according to an analysis released this week by the Congressional Budget Office.

VHFA creates affordable housing and jobs through HARP program

This month marks the completion of three years of Vermont’s Housing Acquisition & Rehabilitation Program (HARP)—a program that has helped renovate 55 homes as of March 31, 2012, including the historic St.

Economists advise acknowledging the possibility of house price declines

Facts refute the popular story that the nation's foreclosure crisis resulted from financial industry insiders deceiving uninformed mortgage borrowers and investors, according to the authors of a new national-level report fro

Despite slight increases in 2011, volume of home sales still low

State housing finance agency credit ratings stabilize

Credit ratings for the single-family programs of state housing finance agencies in the U.S.

Returning foreclosed homes to normalcy key to economic recovery

The slow pace of the economic recovery is due in large part to a chronic glut of pending troubled home loans and foreclosures across the U.S., according to the nation's leading economists.    

VT's rental vacancy rate drops in 2011

According to annual housing vacancy statistics compiled by the Census Bureau, the estimated statewide rental vacancy rate fell in Vermont from 6.1% in 2010 to 4.2% in 2011--the lowest in the nation, with the exception of Oregon. Nationally, the rental vacancy rate was 9.5% in 2011. 

Vermont's owner vacancy rate remained about the same in 2011 at 1.7%. The national owner vacancy rate was 2.5%. 

Review the Census reports

Top challenges facing low and moderate-income communities

When surveyed recently by the Federal Reserve Bank of Boston, service providers chose availability of job opportunities, state and local budget cuts, and federal budget cuts as the top three most important challenges facing low-and moderate-income communities in New England. Access to affordable housing and home foreclosures rounded out the top five most frequently cited responses.

Review the survey results.

Vermont economy recovering amidst global and national challenges

Vermont's econonomy outperformed the U.S. during the past 12 months, with tax revenues that exceeded projections by 2.5%.  Nevertheless, state economists cautioned the legislature and administration of the risks here in Vermont should national policy makers fail to reach an agreement about raising the U.S. debt ceiling. 

Home prices in Vermont will likely continue to decline slightly during the next 3 months, the economic report to the legislature explained.  After that, Vermont's real estate market is likely to begin "an extended period of very low price appreciation."

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