Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Back to the Future of Mortgage Lending

This webinar will be a discussion on understanding what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Real Estate

HUD seeks to end public housing aid for undocumented immigrants

Would give undocumented immigrants 18 months to move out of public housing

The Department of Housing and Urban Development proposed a rule Wednesday that would end public housing aid for undocumented immigrants.

An administration official told The New York Times that the rule would ensure that only American citizens receive housing assistance from HUD, putting an end to a loophole that did not require some aid recipients to prove citizenship.

While the move is one of several the Trump administration has taken to crack down on undocumented immigration, the official told the Times that the department was prompted to act by the long waiting list for public housing.

The rule proposes the use of the Department of Homeland Security’s Systematic Alien Verification for Entitlements Program, or SAVE program, to verify the citizenship of all members living in a household that receives assistance. Undocumented immigrants currently living in public housing would have up to 18 months to relocate.

The Times estimated that as many as 25,000 households could be affected.

Presumably in response to new of the proposed rule, HUD Secretary Ben Carson tweeted the following statement Thursday morning:

“Thanks to @realDonaldTrump's leadership, we are putting America's most vulnerable first. Our nation faces affordable housing challenges and hundreds of thousands of citizens are waiting for many years on waitlists to get housing assistance.”

But others did not view it that way.

Democratic presidential candidate Julián Castro, who was the HUD secretary under President Barack Obama, criticized the rule, the Times reported.

“Once again, the Trump administration is using the immigrant community as a punching bag to distract his base from his own political troubles,” Castro said. “The bottom line is that our government is terrorizing families – first with ICE raids, now with evictions.”

The rule was submitted to Congress on Wednesday for a 15-day review period, after which HUD will issue an open request for comment.

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