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Volume 2 - Number 21 | November 9, 2004
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TOP STORY: New Annual Housing Goals Set To Kick In
By Sule Aygoren Carranza
On Election Day, the US Department of Housing and Urban Development filed a new rule requiring Fannie Mae and Freddie Mac to increase their purchase of certain low-income mortgages by at least 400,000 over the next four years. Analysts don't expect the organizations to have trouble complying.
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INSIDER: Real Estate Partners Inc.'s Thomas E. Thompson
By Stacey Corso
Recently promoted to president of Real Estate Partners Inc., Thomas E. Thompson has his work cut out for him as leader of this Irvine, CA-based privately held real estate investment and management services firm. Along with the company’s principals, Thompson has implemented an aggressive growth strategy for REP involving the acquisition of $500 million in multifamily properties nationwide over the next two years.
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Rising Homeownership Not All Bad For Apartments
By Sule Aygoren Carranza
The homeownership rate in the US is at an historic high of 73.7 million, according to the US Census Bureau’s third-quarter report. That figure represents an increase of 323,000 homeowners from the previous quarter and is 1.6 million more at the same time last year. Surprisingly, this isn’t such a bad thing for apartment owners, according to some researchers.
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Investors Weigh Exit Options From Tax-Credit Program
By Stacey Corso
With the qualified contracts provision of the federal low-income housing tax credit program set to expire next year, investors are weighing various exit strategies as they receive the option of taking their properties market-rate or maintaining them as affordable housing until the year 2020.
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