Volatile Investment Market Prompts Warning on Pricing
First came the chill left by the retreat of several leading low-income housing tax credit (LIHTC) investors.
Developers Rescue State Public Housing
GREAT NECK, N.Y. - The people who live at Spinney Hill Homes here need some help. Their 50-year-old apartments are falling apart around them.
A Flight Toward Certainty
While many lenders are experiencing declining volumes and tightening their underwriting standards in the first quarter of 2008, the Federal Housing Administration (FHA) is having a resurgence.
Fannie Mae and Freddie Mac lenders are used to rushing to close deals at the end of the year, but December 2007 was crazier than usual.
Developers Choose Swaps for Security
Swaps have taken over from caps as the first choice of price-conscious borrowers using loans funded by tax-exempt bonds.
Philadelphia Turns to Housing
PHILADELPHIA - About once a month, Milton Pratt gets an invitation to visit a vacant lot or field of rubble in North Philadelphia.
New York’s HFA Focuses on Affordability
HAMBURG, N.Y. - Workers began to renovate both the apartments and common areas at Creek Bend Heights Senior Apartments in August, adding new windows and a new roof to the 43-year-old building.
Nightmare at Pond View Village
GLOUCESTER, MASS. - Bob Gillis has learned the hard way about the risks of building and selling highend condominiums. “It’s a tough business, and you have to have the nerves for it,” he said.
Affordable Housing Feels the Pain
While the housing crisis has focused on the mortgage meltdown, serious trouble has also settled over the affordable housing sector this year.
Establishing Upfront Feasibility
The dearth of tax credit equity, more conservative debt underwriting standards, and vanishing sources of soft capital are making it much more difficult to pencil out deals.