January 8, 2021
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Home price growth directly ties in to how families develop wealth, the risks of mortgage lending, and the correct business strategy for mortgage and construction professionals, says former Freddie Mac CEO Don Layton. Home prices grew 1.5% in October alone and increased by 10.2% in the 12 months leading up to October. The recent spikes in average listing prices could either be a blip in the market, all due to the pandemic, or it is a glimpse into the future of housing and housing finance, according to Layton’s article for the Joint Center for Housing Studies of Harvard University. A view on whether this is the new normal or a fading trend is necessary for any professionals in the housing industry, Layton suggests.
December 18, 2020
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The annual State of the Nation’s Housing report found households aged 65 and up are the fastest growing age group and greatly influences both the ownership and rental markets. The annual report by the Joint Center for Housing Studies of Harvard University says households aged 65 and up increased by nearly 1 million every year from 2014 to 2019. To compare, households under the age of 45 grew by 1 million alone throughout the same five years. Older households are boosting homeownership rates as well with 78.6% of the total rate of homeownership coming from older households. On the rental side, roughly two-thirds of rental housing growth from 2004 to 2019 can be attributed to adults age 55 and older.
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The economic recovery from the pandemic will take precedence
The recession sparked by the COVID-19 pandemic has had
serious ramifications for renters and homeowners alike. Millions of renters
could face eviction at the beginning of next year if the nationwide moratorium
imposed by the Centers for Disease Control and Prevention is not extended.
And even then, the moratorium is only a stop-gap measure â without emergency rental assistance, those renters could still find themselves without housing whenever the moratorium does end after being unable to pay rent for months. Meanwhile, many mom-and-pop landlords are struggling to remain afloat after withstanding many months of not receiving payments from their tenants.
MaineHousing director: Congress, president need to help keep Mainers housed during COVID crisis
Residents across the state are counting on the COVID-19 Rental Relief Program, which will run out Dec. 31 without more funding.
By Daniel BrennanSpecial to the Press Herald
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In March, MaineHousing announced that no one should lose their home because of COVID-19 – and we stand firmly behind that statement. COVID-19 has highlighted what we already knew: Housing is critical to our fellow Mainers’ well-being, stability and safety.
The Joint Center for Housing Studies of Harvard University’s recent State of the Nation’s Housing 2020 report further validated what we’ve seen across Maine – that COVID-19 has intensified already significant rental affordability issues. In partnership with the Mills administration and Maine’s Community Action Agencies, MaineHousing launched the COVID-19 Rental Relief Program in April. This program has made a difference to thousands of Maine