Real Estate Blog

Racial segregationists continue to exploit minorities in growing numbers, and minority home owners continue to be steered to  minority-dominated neighborhoods where real estate does not appreciate as quickly as in majority white neighborhoods, according to the National Fair Housing Alliance. Housing discrimination complaints to state, federal and nonprofit agencies rose 8.6 percent in the past year, climbing to 27,319 in 2004 from 25,148 in 2003, according to the group.

"Some commentators say integration has failed. I say integration has yet to happen," declared Shanna L. Smith, NFHA president and chief executive.

Lending figures due to be released later this week  will answer the group’s concern that there are discrepancies between loan rates offered to white and to minority home buyers.

The Pennsylvania Association of REALTORS®  has released "THE PAR ECONOMIC REVIEW For the First Quarter 2005" . Author of the study is Dr. Jacob De Rooy, who teaches economics and finance and Pennsylvania State University at Harrisburg. Says De Rooy:

"The economy will continue to have healthy growth, with only moderate inflation. Home construction will decline and competition within the real estate sector may intensify. Mortgage rates will trend upward. But a financing program that uses adjustable rates for a few years and a fixed rate thereafter may be attractive. A housing price bubble is unlikely."

Businesses that handle sensitive consumer credit information will be required to destroy that information before it is discarded to comply with the "Fair and Accurate Credit Transaction Act" (FACTA) that goes into effect in June, 2005. Those businesses include credit reporting agencies, real estate agencies, mortgage lenders, landlords, and government agencies. The Federal Trade Commission says that the Act covers all data, including paper, CDs, computer discs and hard drives. Companies must ascertain that no information can be retrieved from these media after they have been discarded.