Real Estate Blog

While The U.S. Department of Housing and Urban Development engages groups nationwide in events marking Fair Housing Month, the White House is working to purge numerous economic development projects, derail a rural housing program, and move significant anti-poverty initiatives into the Labor and Commerce Departments. Housing Budget Facts:

"Cuts on domestic spending come at a time when city budgets are severely challenged and cities have major community and economic development needs. The U.S. Conference of Mayors issued a statement that they are strongly concerned the consolidation is being used as a way to cut needed resources.

" Cities have become dependent on HUD’s development programs, especially the Community Development Block Grant, and use these grants for clinics, recreation centers, day-care facilities, literacy programs, job creation, stimulation for private investment, and revitalization of distressed communities. With housing and property values skyrocketing, the need for such programs for low-income families has never been greater.

" The budget would eliminate $260 million in economic development projects earmarked for this year by lawmakers and HUD could ultimately lose a quarter of its $31 billion budget. Some 817 HUD community planning and development employees, along with those employed because of financial resources HUD provides to stimulate business, could be in jeopardy of losing their jobs.

" The administration proposes to consolidate 18 community development programs from various agencies into a new $3.7 billion economic development program for distressed communities to be overseen by the Commerce Department4, generally see to be more receptive to business needs than the needs of the poor.

" Don Plusquellic, the mayor of Akron, Ohio, who is president of the United States Conference of Mayors, said: ‘The new proposal in unconscionable. It will cut programs that help the poorest and the neediest’."

The Department of Justice’s Antitrust Division  filed a lawsuit against the Kentucky Real Estate Commission for limiting competition among real estate brokers. DOJ said that the Commission’s regulations restrict competition and cause consumers to pay higher prices for certain real estate services:

...the Kentucky Real Estate Commission regulations prohibit real estate brokers from competing by, for example, offering cash rebates or refunds, or a free home inspection, the DOJ said in its court filing. Nor can they compete by taking a customer out to dinner or donating money to a charity of the customer’s choice. The Department’s suit seeks to restore this beneficial competition. As aptly put by another broker quoted in the complaint, striking down these regulations and permitting "rebates and inducements will increase competition and give consumers more choices in service."

  EXCLUSIVE REPORT: TheCELESTIALgram Blogger reports that the Beneficent  Recorder of Deeds has added Karol Wojtyla as tenant in common to the First Estate at the Kingdom of Canaan. Welcome Wagon chair Erena Josefa Stanislawa Maliszewska Flynn was the first to greet the Pontiff. Erena and Wojtyla joined the archangelic residents for a robust seraphic polka to herald Wojtyla’s homecoming today.