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October 2017

Residential Real Estate

Residential Real Estate and Its Importance of the Whole Economy

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Residential real estate is one of the viable investment opportunities that are driving the US economy forward. A good number of US citizens have always desired to realize the much celebrated American dream by engaging in property investment. While several individuals have succeeded in owning a home, others are still in the process.

Residential investment vehicles gives investors the opportunity to purchase or sell all kinds of homes such as apartments, condominiums, terraced houses, cooperative houses, duplexes, and so on. Such investment opportunities are always available in many of the states. Buying and selling of such homes are always ongoing in various cities located in the US.

All over the US, there are agencies and individual agents helping people to invest in the residential real estate business. There are also various online real estate listing services that help home sellers to advertise their properties. A good number of US citizens get involved in the residential real estate business on regular basis. This has continued to help the US economy in diverse ways.

The Important of Residential Housing on the US Economy
Ever since the days economic recession which sparked off during the September 2008 financial crisis, the residential real estate has continued to remained one of the most viable tools that still drive the US economy forward. Since the recession ended in 2001, it has also been the primary driver of the US economy. Lots of cash returns have always been realized for the US economy through the residential real estate business. The bulk of the money comes from property taxes which most home owners pay yearly to the government in order to protect their properties.

The residential housing business has also generated lots of employment opportunities for the US citizens. Many young guys are now making ends meet by working as agents in their various cities. Many contractors, land surveyors, loan officers and others have also emerged. They have a lot to do in the residential real estate business. In most cases, they help home buyers to realize their dream while the US economy continues to boost in the process.

Housing for US citizens, it has continued to play an integral role in the US economy. The more several houses are provided, the higher the property tax multiplies. This ensures regular flow of income in the US economy.

There’s also a growing interest of non US citizens in the housing business in the US. Several investors from other countries of the world are given enough room to purchase all kinds of homes in various states. This in turn drives the US economy forward.

Indeed, the future still holds a lot for the US economy. The residential market is actually booming. More good reports are also in the pipeline. The US economy will continue to grow higher as the real estate market thrives. The economy is still reluctant to have increase in housing values, as the property foreclosures inventory is still high.

 

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House Investment

Using the Web to Encourage Affordable Housing Investment

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In the early 1990s, a group known as the National Commission on Severely Distressed Public Housing was formed to develop a National Action Plan to repair public housing that was in desperate need of rehabilitation. From 1993 on, the program awarded millions of dollars in grants to aid in the revitalization and in some instances demolition and rebuilding of public housing. In 2010, in an effort to build upon and expand the success of what became known as the HOPE VI program, the U.S. Department of Housing and Urban Development (HUD) launched a new initiative called Choice Neighborhoods.

HUD’s Choice Neighborhoods program was created to expanding funding beyond public housing. It’s purpose is to encourage not just revitalization of public housing units, but of entire neighborhoods, through improvements in everything from infrastructure to retail space and schools. Each year, millions of dollars are awarded through Choice Neighborhoods. And while funding can help get much-needed revitalization projects off the ground, many projects need more money than what’s available. Rather than let projects just sit idle and unfinished, HUD has launched a new web-based tool in an effort to increase private investment in these projects.

The new tool allows potential investors to search, via an interactive map, for regional projects that submitted funding requests via Choice Neighborhoods. Grant recipients are listed, as are applicants which HUD considered “strong,” but for which funding was not available.

The website, Partner.Hud.Gov, includes detailed information about Choice Neighborhoods applicants, including contact information, the neighborhood or area targeted for development, and the amount of grant money received, if any. When a user clicks on the name of a grant recipient, he is redirected to a separate web page that generally includes a detailed map of the neighborhood or area for which the application was submitted, and a thorough description of the project, including key partners.

This year, HUD received over 150 applications, but was only able to grant funding to 22 projects. And even some of the projects that received grants need additional investment dollars because they didn’t receive their full funding request from HUD. HUD hopes that making applicant information available on an easy-to-use web platform will draw private investors who will help see these important projects through to completion.

No decision has been made regarding the web tool’s long-term status. A final determination will likely not be made until the site has been up and running long enough for HUD and Choice Neighborhood applicants to gauge whether or not it’s effective.

 

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