Archive for September 2008
MBA Responds to Treasury/FHFA Actions on GSEs
Washington, D.C.–John A. Courson, Chief Operating Officer of the Mortgage Bankers Association (MBA) praised the Treasury for placing Fannie Mae and Freddie Mac in a conservatorship. “I applaud them for taking crucial steps to ensure that Fannie Mae and Freddie Mac can continue to play their critical role of providing liquidity to the housing finance…
Read MoreTHE ESSENTIAL KITCHEN by Kevin M Henry
Among the great chefs of the world, it is widely believed that the success of a meal depends on the color of its ingredients. I have always believed, as well, that color is the essential ingredient to create the ideal kitchen, a playground to experiment with your tastes, your senses and your personal style without…
Read MoreTODAY’S DEALS: UDR Wraps Up Reinvestment of Funds from $1.7B 1031 Exchange, and Other Transactions
By Anuradha Kher, Online News Editor, MHN and Barbra Murray, Contributing Editor, CPNDenver–Almost exactly six months after closing on the sale of 86 apartment properties to DRA Fund VI LLC and joint venture partner Steven D. Bell & Co., UDR Inc. has concluded the reinvestment of 1031 exchange funds from the from the $1.7 billion…
Read MoreForsale Housing Market May be Bottoming, Says NAR Research Official
By Anuradha Kher, Online News EditorWashington, D.C.–The level of home sales, including multifamily, is expected to show little movement in the months ahead, according to the latest projections by the National Association of Realtors (NAR).The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, fell 3.2 percent to 86.5 from an…
Read MoreRKT&B Architects Expands Urban Infill, Affordable Housing Program
By Erika Schnitzer, Associate EditorNew York–RKT&B Architects will add four new projects to its “Smart Housing” urban infill program. Developed jointly with CPC Resources (CPCR), the program is designed to address the need for affordable housing in New York.“One of the characteristics of these neighborhoods is that buildings are either missing or in such a…
Read MoreNew York City Affordable Housing Fund Receives Innovations Award
By Anuradha Kher, Online News EditorNew York–The Ash Institute for Democratic Governance and Innovation at Harvard Kennedy School has named the New York City Acquisition Fund as a 2008 Innovations in American Government Awards winner. This $230 million partnership finances the purchase of land and buildings for affordable housing by using private finance tools to…
Read MoreFannie, Freddie Conservatorship Receives Mixed Response
Washington, D.C.–The takeover of Fannie Mae and Freddie Mac has appeased many in the multifamily industry but doubts linger among others about the takeover’s long-term effects on the sector and the economy in general. MHN gathered comments from various sources that have so far come forward to help put the issue in perspective.Bill Hughes, senior…
Read MoreEDITOR’S NOTE: Business as Usual…for Now
By Keat Foong, Executive Editor As the government places Fannie Mae and Freddie Mac in conservatorship, what we can keep in mind for now is that the plan reportedly is meant to allow for the continued operations of the two companies while the rescue is taking place. That means that in the short-run at least,…
Read MoreEye on the Economy with Adam Perrotta
While the economy has continued to show signs of weakness as of late, the federal government’s bailout of beleaguered mortgage agencies Fannie Mae and Freddie Mac came as a welcome relief to many, although it is unclear at this point just how much of an effect the plan will have on the housing market and…
Read MoreMaytag’s TurboVent Technology Makes Drying Efficient
Maytag Commercial Laundry has developed its newest line of super-capacity dryers using its TurboVent Technology. The TurboVent Technology offers 100 ft. of venting capability to provide maximum performance and shorter drying times, while helping save energy costs in many poorly vented situations.“We created TurboVent Technology because many apartment buildings and university housing were designed without…
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