Monday, June 6, 2011

Housing News Digest, June 6

Chronic unemployment worse than Great Depression
CBS News correspondent Ben Tracy reports that the chronically unemployed face the hardest road back to recovery, and that while the jobs picture may be improving statistically on a national level, it is not for them.

Tinong Nwachan, for example, has far too much time on his hands. When CBS News met the former truck driver he had been out of work for two years.

More Colorado Families Facing Housing Cost Burdens
DENVER - More renters are facing what's known as a housing-cost burden: paying a third or more of income on rent and utilities, according to a Harvard University study which also finds that the burden isn't limited to low-income families.

Colorado Voices: Priced out of owning a decent home

In 1972, my parents bought their first house. My father, not long home from two tours in Vietnam, worked at the General Tire plant on the production floor at an entry-level job. He made $2.25 an hour, or $4,680 a year.
He had a wife, a 2-year-old son and a desire to put a roof over our heads. They paid $19,000 for that house, or roughly four times his annual salary. They did it on one income and without a college education.

Construction important to recovery, but struggles could drag Colorado down

Read The Denver Post's Terms of Use of its content:
The sector lost 60,000 jobs during the past three years — a reduction of more than a third, and almost half of Colorado's total job loss of about 130,000. The contraction worsened in recent months, sapping momentum from a delicate turnaround for the state and diminishing one of its biggest employment bases.

Summit County: Mudslide hits housing complex at Keystone
SUMMIT COUNTY — A large mudslide on Keystone Mountain inundated an employee housing complex near the Mountain House base area, damaging several exterior decks and walkways and covering several hundred feet of a road with mud a couple of feet deep.

Renting on the rise: Loveland-area vacancy rates dropping
Though Larimer County home prices have held steady in recent months, reports show still that it’s trendy to rent.

Vacancy rates fell 16.6 percent in the first quarter of 2011 in five metropolitan areas including Fort Collins-Loveland, Greeley, Grand Junction, Colorado Springs and Pueblo, according to a report released in mid-May by the Colorado Division of Housing and conducted by the University of Denver’s Gordon E. Von Stroh.