housing

Unrest in Ferguson
5:07 pm
Tue October 7, 2014

With The Future Uncertain, Ferguson Real Estate Market Takes A Hit

Ferguson realtor Pearce Neikirk gives a tour of a single-family home on the north side of town. Since the unrest, the seller has reduced the home's price by $9,000.
Credit Emanuele Berry / St. Louis Public Radio

While giving a tour of a two-story, French colonial style home that's for sale on the north side of Ferguson, realtor Pearce Neikirk said the past months have been hard on his business.

“All of us are working without the rule book here,” Neikirk said. “We don’t know how to work with this kind of a situation.”

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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?

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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:

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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.

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5:47 pm
Fri March 22, 2013

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

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.

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St. Louis Home Prices
9:34 am
Wed March 6, 2013

St. Louis Home Prices Get A Boost

Credit (via Flickr/401K)

A new report says the region's home prices rose 4.3 percent in January from the same month in 2012.

The real estate analysis firm CoreLogic released the report Tuesday. The firm says the data offer more evidence that a housing recovery is finally under way in St. Louis.

The St. Louis Post-Dispatch reports that excluding distress sales, prices in January were up 3.6 percent.

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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.

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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.

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

County takes over East St. Louis grant program

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

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