The waiting lists for Pennsylvania’s human service programs all have a beginning, but, it seems, none has an end. With Gov. Ed Rendell and legislators unable to agree on how to fill a multibillion-dollar deficit, the fortunes of many state programs are up in the air. But the plunge in state tax collections does not… Continue reading »
Aug
18
State budget impasse affects children’s programs
At least 420 fewer children will be in public early childhood programs in Allegheny County this fall, part of the fallout from the state budget impasse in Harrisburg. The Allegheny Intermediate Unit Friday notified 300 families that their children’s Head Start or Pre-K Counts classrooms will be closed because of a lack of state funding.… Continue reading »
Aug
17
Top 30 U.S. Housing Markets: Pittsburgh No. 6
They’re easy to overlook, with home prices plunging from Manhattan to Los Angeles and almost everywhere in between. But look at the smaller metros where housing bubbles never took shape, and you’ll find some of today’s strongest markets. Boulder, Colo.; Fayetteville, N.C.; Pittsburgh; Little Rock; and other slow-but-steady metros are now among the nation’s safest… Continue reading »
Aug
17
Proposal to allow distressed homeowners to rent foreclosed homes
The increasing number of abandoned and vacant foreclosed houses is lowering property values in neighborhoods. These foreclosure properties that remained unsold and unoccupied become eyesores in neighborhoods. Center for Economic and Policy Research co-director Dean Baker has proposed to allow distressed homeowners to remain in their houses by renting the foreclosed properties to them. He said… Continue reading »
Aug
17
Underwater Mortgages Reach Epidemic Levels
Underwater mortgages hurt home sales and increase delinquencies and foreclosures. People who have to pay their mortgage holder to sell their homes are less likely to be sellers. A home sold for $200,000 when it has a $250,000 mortgage is a home that the owner may not be able to afford to sell. Read the full… Continue reading »
Aug
17
Dwelling House reopens as PNC Financial Services branch
Dwelling House Savings & Loan Association reopened this morning as a branch of PNC Financial Services after being shut down over the weekend by the federal Office of Thrift Supervision. Read the full Post-Gazette article here.
Aug
05
Housing agency chief Lockhart to step down
The head of the federal agency that regulates mortgage finance companies Fannie Mae and Freddie Mac is stepping down. The timing of James Lockhart’s departure from the Federal Housing Finance Agency is not yet certain and a successor hasn’t been named, according to an administration official who spoke on condition of anonymity Wednesday because the… Continue reading »
Aug
05
Rendell signs partial budget, vetoes more than half
Gov. Ed Rendell today signed a partial 2009-10 state budget that calls for spending $11 billion, allowing most of the state’s 77,000 workers to finally get paid. But he vetoed an even greater amount of proposed spending — $13 billion, including money for state-owned colleges, community colleges, libraries and the state Legislature itself. Read the… Continue reading »
Aug
05
National Night Out: Communities take stance against crime
Many communities will be hosting block parties, cookouts and festivals in celebration of the 26th annual National Night Out Against Crime on Tuesday. Sponsored by the National Association of Town Watch, the goal of Night Out is to raise crime-prevention awareness, increase participation in local anti-crime programs and strengthen police-citizen relationships. Learn more about what events took place… Continue reading »
Aug
04
Mortgage aid program helping fraction of borrowers
The government’s $50 billion program to ease the foreclosure crisis is helping only a tiny fraction of struggling homeowners. As of July, only 9 percent of eligible borrowers had seen their mortgage payments reduced. And a progress report on the plan Tuesday showed that 10 lenders had not changed a single loan. Read the full… Continue reading »