Monday, May 2, 2011

Housing News Digest, May 3

Household Formation and the "Big L"
Millions of young adults like Webb are starting to leave their parents’ homes, creating households at the fastest rate since 2007.
Between 750,000 and 1 million new households will be created in 2011, predict UBS Securities LLC’s Maury Harris and IHS Global Insight’s Patrick Newport. That compares with just 357,000 added in the year ended March 2010, the lowest on record, according to the Census Bureau.

Colorado programs for the homeless get $1.8 million in federal grants
DENVER — Colorado programs that help the homeless and those with HIV/AIDS have received nearly $2 million in federal grants.

The Denver Post reports that the U.S. Development of Housing and Urban Development announced Monday that Colorado programs will get $1.8 million.

Foreclosure filings down, building permits up in April
The housing market still has a long way to go before it fully recovers from the economic downturn that began four years ago. Still, improvements on the foreclosure and homebuilding fronts were welcome news to members of the housing industry

Q&A with Terry Pixley: Decades of appraising homes
Read more:
Today, Pixley has gone digital — he uses a camera that fits in his coat pocket. But forget about 14 homes in a day. With government-backed loans or corporate relocations requiring much more detailed information, the single-page form he used to fill out by pencil has given way to documents that sometimes run 19 pages and are filled out on computer.

US Debt Rating Should Be 'C': Independent Agency
"A 'C' is equivalent to approximately a triple-B on the S&P, Moody's and Fitch scales. It's two notches above junk and one notch above the equivalent of a single A," Martin Weiss, President of Weiss Ratings, told CNBC Tuesday.