Tag Archive for Kurt Usowski

Housing Market Still Healing, Making Progress

March 11, 2014 Housing Market Comments Off on Housing Market Still Healing, Making Progress

The housing market has made significant strides in the past year but is still healing from the Great Recession, according to a new report from the U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury. The February edition of the administration’s Housing Scorecard shows significant progress in a number of key areas. For instance, the scorecard notes that purchases of new homes rose, foreclosure completions continued trending downward, and home prices were stable during the month. Still, Kurt Usowski, HUD’s deputy assistant secretary for economic affairs, says there is work to be done. Usowski says the administration’s efforts to stabilize the housing market are having a positive effect but the encouraging news does not detract from the need to build on the progress. Among the highlights in the report, homeowner equity continues to rise, with the Federal Reserve announcing a 4.3 percent spike in the fourth quarter of 2013. Homeowners’ equity has risen 60 percent since the beginning of 2012. More here.

October Housing Scorecard Shows Progress

November 13, 2013 Housing Market Comments Off on October Housing Scorecard Shows Progress

The U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury compile a comprehensive report on the housing market each month in an effort to track the progress of the federal government’s recovery efforts. The Housing Scorecard tracks key market data as well as programs aimed at providing relief to homeowners still recovering from the housing crisis. In October, the data shows important progress in home prices, new home purchases, and existing home sales. Kurt Usowski, HUD Deputy Assistant Secretary for Economic Affairs, said homeowners’ equity is at its highest level since 2007 and home prices continue to improve, both indicating that things are moving in the right direction. Since the beginning of 2012, equity is up 50 percent or $3.1 trillion. More here.

Rising Home Prices Help Underwater Homeowners

September 14, 2013 Uncategorized Comments Off on Rising Home Prices Help Underwater Homeowners

The number of homeowners who owe more on their mortgages than their home is worth has fallen by 42 percent since the beginning of 2012. The positive trend has resulted in 5 million fewer underwater homeowners across the nation, according to the latest housing scorecard from the U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury. The monthly scorecard collects key housing data and the results of the administration’s foreclosure prevention programs. Kurt Usowski, HUD’s deputy assistant secretary for economic affairs, said the more than 40 percent drop in underwater homeowners indicates that we are moving in the right direction. The improvement is largely due to continuing gains in home prices. Recent price reports have values up more than 12 percent over the past 12 months. More here.