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Home appraisal’s ugly history and uncertain future

This is Part I of a deep dive into the home appraisal industry. Today we explore the origins of the appraisal industry and its current lack of diversity.

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Real Estate

Ben Carson calms fears of $6B HUD budget cut

“Starting numbers are rarely final numbers”

U.S. Department of Housing and Urban Development Secretary Ben Carson sent an email to his staff seeking to calm the storm of doubts left in the wake of the possibility of a $6 billion cut of HUD funding.

Previously, it was rumored that housing could be impacted by President Donald Trump’s proposed budget cuts. And those rumors were not without founding as new reports showed the administration is considering more than $6 billion in cuts at HUD to boost military spending.

However, Carson sent out an email to HUD staff attempting to calm the rising storm, according to an article by Amanda Terkel for The Huffington Post.

In his email, he insisted that no numbers are final, and that the budget negotiation process is still in its early stages.

From Carson’s email:

Today you may have read preliminary HUD FY18 budget negotiations in national media reports. Please understand that budget negotiations currently underway are very similar to those that have occurred in previous years. This budget process is a lengthy, back and forth process that will continue. It’s unfortunate that preliminary numbers were published but, please take some comfort in knowing that starting numbers are rarely final numbers. Rest assured, we are working hard to support those programs that help so many Americans, focus on our core mission, and ensure that every tax dollar is spent wisely and effectively.

HUD Deputy Assistant Secretary Jereon Brown’s statement was very much the same as he explained the document is only a preliminary budget document, and that numerous versions are produced during the budget process.

“I can confirm that the budget negotiations are currently underway,” Brown told HousingWire. “The process is very similar to those that have occurred in previous years.”

“This is a lengthy, back and forth process that will continue for at least the next two weeks,” he said. “Normally, starting negotiation numbers are rarely final budget numbers.”

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