Folks from Vermont Housing Finance Agency, Champlain Housing Trust, Housing Vermont and others cut the ribbon on a new development of affordable apartments in Colchester.
Brookside Village, off Mallets Bay Avenue near the Winooski/Colchester border, adds 42 units of much-needed family housing to Chittenden County's affordable housing stock.
The $9.6 million project includes 31 two-bedroom units, eight one-bedrooms, and three three-bedroom units. Nearly all are leased.
Rent an apartment? Landlord losing the property to foreclosure? Think you have to move? Think again.
If you have a valid lease and have been paying your rent, the law says the new owner of the property most likely must honor the term of your lease. If you're renting month-to-month, you're owed 90 days' notice before you have to move out.
These protections are guaranteed under the Protecting Tenants at Foreclosure Act passed by Congress last May.
If we don't focus on building new housing, the nation's headed for a crisis larger than the one we've already seen.
That's the warning made by First Trust Advisors Chief Economist Brian Wesbury in a recent interview with Steve Forbes.
Nationally, "we need 1.5 million houses per year just to keep up with population growth," he says. "And then if you throw in, you know, fires and tear-downs and just worn-out properties, we need 1.6 million or more per year.
"Right now, we’re down to about six and a half, seven months' inventory whether you look at new homes or existing homes."
Two recent reports suggest loan modification efforts will delay, not prevent, home foreclosures — and those foreclosures will lower home prices for the next several years.
Those conclusions come from studies issued by John Burns Real Estate Consulting Inc. and Standard & Poor's Financial Services LLC.