Clinton reforms draw mixed review; lawmakers balk at deregulation
Article Abstract:
Pres Bill Clinton's economic reforms included plans to ease the credit shortage by allowing banks to issue character loans which focuses on the banker's good reputation. This would also allow banks to assess loans based on the loaners' ability to pay and simplify appraisal requirements on real estate used as collaterals. Home builders welcomed the proposals in the hope that these would activate the markets in the Northeast and West Coast. However, Henry Gonzales and Don Riegle, House and Senate Banking Committee Chairman, respectively, criticized the proposals and cited the need for a single bank regulator.
Publication Name: Professional Builder and Remodeler
Subject: Construction and materials industries
ISSN: 1053-6353
Year: 1993
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Starts, permits up in N.E.; single-family affordables lead
Article Abstract:
The Federal Reserve Board's Jan 1993 survey showed that the Northeast residential real estate market improved compared to 1992. Economic and employment constraints continue to impede would-be buyers from purchasing houses and affordability remains to be the primary consideration. Meanwhile, the Northwind development in Foxboro, Boston, MA, has created a niche in the housing market despite the stiff competition with existing home resales. By rezoning the area and helping his clients avail of lower closing costs, the project had sold many units within a month.
Publication Name: Professional Builder and Remodeler
Subject: Construction and materials industries
ISSN: 1053-6353
Year: 1993
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Cisneros sets urban aid priorities, but internal reforms may come first
Article Abstract:
The Clinton Administration's Housing and Urban Development (HUD) Sec Henry Cisneros has set his mind on the use of HUD resources to address the socio-economic ills of the cities and the plight of the homeless. However, this noble vision may have to wait as Cisneros still has to clean up the internal system and management of HUD which seem to have wallowed in mismanagement. The sorry management state of HUD was contained in a report prepared by the HUD transition team that evaluated the program just before Cisneros took office.
Publication Name: Professional Builder and Remodeler
Subject: Construction and materials industries
ISSN: 1053-6353
Year: 1993
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