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Economy

BusinessWeek: St. Albans "most affordable" Vermont suburb

businessweek logoBusinessWeek has named St. Albans Vermont's "most affordable" suburb.

"Housing prices across the nation are being flattened by the worst economic crisis in decades," Prashat Gopal writes, "but it's still not necessarily easy to find affordable suburbs.

NAR study: Record number of first-time homebuyers last year

A recent study by the National Association of REALTORS (NAR) shows first-time homebuyers reached their highest market share on record during the past year.

The number of first-time buyers rose to 47 percent of all home sales, up from 41 percent in the previous year's study.

“These buyers are critical to housing and a general economic recovery, because the market always heals from the bottom up," according to Paul Bishop, NAR Vice-President of Research.

Home values in VHFA portfolio up 24 percent

An independent review of VHFA’s single-family home loan portfolio shows property values increased by 24 percent compared to values at time of purchase.

The median increase in individual home values in VHFA’s portfolio was 14 percent.

“During this recession we’ve heard a lot about homes dropping in value, but properties in VHFA’s portfolio are doing well. This is evidence of the fiscal strength of the Agency,” said Executive Director Sarah Carpenter.

Homebuyer tax credit extension; local media coverage

The U.S. Senate has voted to extend the $8,000 first-time homebuyer tax credit and President Obama is expected to sign the bill into law today. (Read our previous posts about the credit.)

Report details recession in Vermont

report coverThe Public Assets Institute in Montpelier has published "State of Working Vermont 2009."

The report, which explores the recession's effects on the Green Mountain State, concludes, "Some hopeful signs suggest that the end of the recession is coming into view — that is, the overall economy is beginning to grow again instead of shrink.

$1.3 million coming for Burlington housing

thayer schoolMore than $1.3 million in federal neighborhood stabilization program funds are coming to Burlington to support housing.

Approximately $1 million of the allocation will allow Champlain Housing Trust (CHT) to purchase, renovate and resell six to eight homes.

Sen. Leahy praises support plan for HFAs

sen. leahySen. Patrick Leahy has added his voice to those praising the Obama administration's plan announced earlier this week to support housing finance agencies, such as VHFA.

Douglas joins VHFA in applauding HFA assistance

Gov. Jim Douglas and Vermont Housing Finance Agency (VHFA) gave thumbs-up to yesterday's U.S. Treasury Department announcement to help out state housing finance agencies, such as VHFA.

Read our joint press release (PDF) issued along with the Governor's office.

Video: Housing initiative on Fox

National Council of State Housing Agencies (NCSHA) President Susan Dewey made an appearance on Fox Business yesterday to talk about the Obama administration's new initiative to help state housing agencies, such as VHFA.

Watch it here:

Treasury initiative receives press coverage

Yesterday's announcement about a new federal initiative to help housing finance agencies, such as VHFA, received attention in a number of media outlets.

Here's a list of what we've come across:

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