housing

Business
8:25 pm
Sun March 2, 2014

Young Families Hurt More By Recession

Credit (via Flickr/MoneyPit)

Younger families are not recovering as quickly from the recession as their elders.

An analysis from the Federal Reserve Bank of St. Louis found that families headed by someone younger than 40 have recovered only about one-third of their pre-recession wealth.

Meanwhile older families have nearly regained their pre-crisis level of wealth.

So, why are those under 40 having a harder time recovering?

Read more
Business
5:12 pm
Thu February 20, 2014

St. Louis' Realty Market Follows National Trend: Home Sales Likely To Flatten In 2014

Housing prices have gone up, but home sales are expected to flatten this year.
(Flickr/Jessica Perdue)

Following a two-year recovery in the housing market, the National Association of Realtors’ chief economist expects sales to level off.

"Right now there are two opposing forces; higher mortgage rate anticipation, which is always a negative, and more job creation, which is a positive." said Lawrence Yun, "So, I think it will be a more neutral year in terms of home sales."

Yun spoke to members of the St. Louis Association of Realtors Thursday morning. His key points for this market:

Read more
Other News
8:54 am
Wed October 16, 2013

Law Makes St. Louis Foreclosure Ordinance Moot

(via Flickr/woodleywonderworks)

A Missouri appeals court says a legal dispute over St. Louis County's foreclosure mediation ordinance is moot after a recently enacted state law.

St. Louis County's 2012 ordinance required that lenders give residential borrowers a chance to mediate before their homes are foreclosed. Missouri lawmakers this year approved legislation making real estate loans subject only to state and federal laws. It was aimed at overturning local foreclosure mediation ordinances. Gov. Jay Nixon allowed the law to take effect on Aug. 28.

Read more
5:47 pm
Fri March 22, 2013

Downside Of A Housing Rebound? Price Of Plywood On The Rise

Lead in text: 
Our Adam Allington reports for Marketplace.
As the housing market recovers, prices for some construction and building materials reach pre-bust highs
Economy
4:30 am
Thu March 21, 2013

Home Values Rising, But Homeowners Still A Long Way From Flush

(via Flickr/Images_Of_Money)

So, another week, and yet more news the U.S. housing market is slowly returning to normal.

Numbers released on Tuesday by the Commerce Department show that builders broke ground on homes last month at a seasonally adjusted annual rate of 917,000. That's up from 910,000 in January. And it's the second-fastest pace since June 2008, behind December's rate of 982,000.

Read more
Urban Development
8:03 am
Tue October 23, 2012

Grand Opening Brings 120 New Apartments To St. Louis' 18th Ward

Some of the 120 new, mixed-income units now available in St. Louis' 18th Ward at North Sarah Apartments.
Adam Allington/St. Louis Public Radio

120 mixed-income apartments are now available to residents of St. Louis’18th Ward, just north of the old Gaslight Square.

The project, called "North Sarah Apartments," is a LEED-certified green community, with garden style and townhouse apartments.

18th Ward Alderman Terry Kennedy said the project was envisioned by residents over 10 years ago.

Central to their idea, Kennedy says, was the restoration of a commercial district on North Sarah Street.

Read more
S&P sued
12:17 pm
Wed January 25, 2012

Ill. attorney general sues rating agency over housing bubble

Ill. Attorney General Lisa Madigan has sued S&P for fraudulently assigning high credit ratings to mortgage-backed securities.
(St. Louis Public Radio)

Illinois Attorney General Lisa Madigan has filed suit against ratings agency Standard and Poor's for fraudulently assigning high ratings to mortgage-backed investments despite their risk.

The suit filed today in Cook County - the state's largest - argues that instead of independently evaluating mortgage-backed securities, S&P gave them higher ratings than warranted to benefit investment bank clients and the agency's bottom line.

Read more
East St. Louis / Housing
12:11 pm
Tue October 25, 2011

County takes over East St. Louis grant program

View Larger Map

St. Clair County will take over a multi-million dollar federally funded housing program in East St. Louis.

Read more
Federal Stimulus Funding
11:59 am
Tue March 15, 2011

Mo. lags in use of stimulus for energy projects

(via Flickr/yomanimus)

Missouri is lagging in its use of federal stimulus money intended to make homes more energy efficient for low-income residents.

Missouri received nearly $129 million in home weatherization funds for low-income residents under the 2009 federal stimulus bill. As of the end of January, just $47 million of that had been spent. That amounts to 37 percent of the total.

Housing permits
5:04 pm
Mon February 21, 2011

Building permits match record low in Jan. 2011

(via Flickr/ Giles Douglas)

More not-so-great economic news for the St. Louis region today.

The Home Builders Association of St. Louis and Eastern Missouri released its data on the number of permits issued by the six counties (St. Louis, St. Charles, Lincoln, Warren and Franklin) and the city of St. Louis. They show that builders were looking to start construction on just 120 new single-family homes in January 2011. That's down more than 40 percent from January 2010, and is the lowest monthly total since November of 2008.

Read more

Pages