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NEWS
May 3, 1990 | MARLENE CIMONS, TIMES STAFF WRITER
A former top official at the Department of Housing and Urban Development continued Wednesday to rebut former HUD Secretary Samuel R. Pierce Jr.'s claim that he was a "hands-off" manager who was unaware of fraud and abuse within the agency.
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BUSINESS
June 26, 2001 | From Times Staff and Wire Reports
Sales of existing homes in California fell almost 13% in May from a year earlier, but were up 2.1% from April, the California Assn. of Realtors said Monday. Nationally, sales of previously owned homes rose 2.9% to a seasonally adjusted annual rate of 5.37 million units in May, from a revised pace of 5.22 million in April.
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NEWS
May 1, 1990 | ROBERT L. JACKSON, TIMES STAFF WRITER
An aide to former Housing Secretary Samuel R. Pierce Jr. testified Monday that Pierce often awarded federal housing grants on the basis of friendship and political favoritism. The testimony of DuBois L.
NEWS
December 24, 2000 | MARLENE CIMONS, TIMES STAFF WRITER
President Clinton, invoking what has become a traditional Christmas theme, on Saturday announced a series of measures to better integrate the nation's public housing and to help new home buyers and the homeless. The most sweeping action would require public housing authorities to look at tenant incomes and find ways to add residents who would expand the economic diversity. Although the focus is on income, the likely effect would be to produce more racial integration.
NEWS
June 28, 1990 | Associated Press
The Senate on Wednesday voted to overhaul federal housing policies and require first-time home buyers to pay more for FHA-backed mortgages. The bill was approved on a 96-1 vote after Democrats and Republicans announced agreement on key provisions with the Bush Administration. The only no vote was cast by Sen. William V. Roth Jr. (R-Del.). As passed, the legislation would authorize $18.1 billion in federal spending on housing in fiscal 1991, $19.
BUSINESS
August 19, 1992 | From Associated Press
People living in Jackson, Mich., enjoyed the most affordable housing in America as summer began, according to a survey released Tuesday by the National Assn. of Home Builders. Those shopping for homes outside the Midwest might look at the Brazoria, Tex., area in the South; or Greeley, Colo., in the West, or Nashua, N.H., in the Northeast. They were the most affordable in their regions. Pass San Francisco, however. It was the most expensive metropolitan area in the home builders' survey.
BUSINESS
September 23, 1992 | MATT MARSHALL and JUBE SHIVER JR., TIMES STAFF WRITERS
Construction of new houses and apartments surged 10.4% in August to a seasonally adjusted annual rate of 1.2 million units, the first increase in three months and the biggest gain since February, 1991, the Commerce Department reported Tuesday. But analysts said the upturn does not necessarily signal a resurgent economy. They noted that applications for building permits, which forecast future construction, actually declined by 2% in August.
NEWS
February 25, 1989 | From Associated Press
Housing Secretary Jack Kemp toured public housing alternatives Friday and told homeless advocates he wants to be one of them, using federal money and his agency to expand housing projects for the poor. "I don't want to spend my time wallowing in poverty, I want to combat it," Kemp said after touring the Richard Allen Homes, a public housing complex in a drug-infested North Philadelphia neighborhood.
BUSINESS
August 18, 1999 | Times Staff and Wire Reports
Builders broke ground on new homes and apartments at a faster-than-expected pace in July, the government said in a report showing a robustness in the housing sector despite higher mortgage rates. Starts rose by 5.7% in July to a seasonally adjusted annual rate of 1.66 million units, beating Wall Street economists' forecasts of a 1.61-million-unit rate. They recouped almost all of June's 5.8% decline. Building permits issued in July, an indicator of future activity, fell a slight 0.
NEWS
February 4, 1999 | RONALD BROWNSTEIN, TIMES STAFF WRITER
In an unusual public-private partnership, Vice President Al Gore is expected to announce today a new agreement between the federal government, the nation's mayors and the National Assn. of Home Builders to construct 1 million homes in cities over the next 10 years. Under the agreement, the home builders will commit to construct 100,000 homes a year in urban centers, where homeownership rates lag behind the suburbs.
BUSINESS
February 3, 2000 | From Reuters
U.S. consumers bought new homes at a faster than expected pace in December, the government said Wednesday, capping a record year for the housing market that may finally be showing signs of slowing under the weight of higher interest rates. The Commerce Department said the number of new single-family homes sold in December rose 4.5% to a seasonally adjusted annual pace of 900,000 units, faster than the 889,000 pace economists expected.
BUSINESS
October 26, 1999 | Julie Tamaki
In yet another sign that the residential real estate market is moving along at a steady pace, sales and prices of existing homes posted year-over-year gains last month in both California and the rest of the nation. State sales of existing homes in September rose to a seasonally adjusted annualized rate of 708,680--a 12.8% jump from the 627,990 pace recorded in September 1998. California sales increased 8.9% from August.
BUSINESS
August 18, 1999 | Times Staff and Wire Reports
Builders broke ground on new homes and apartments at a faster-than-expected pace in July, the government said in a report showing a robustness in the housing sector despite higher mortgage rates. Starts rose by 5.7% in July to a seasonally adjusted annual rate of 1.66 million units, beating Wall Street economists' forecasts of a 1.61-million-unit rate. They recouped almost all of June's 5.8% decline. Building permits issued in July, an indicator of future activity, fell a slight 0.
BUSINESS
June 21, 1999 | Bloomberg News
Figures on growth, manufacturing, housing and employment this week are expected to point to a U.S. economy that's in no danger of slowing much, even if the Federal Reserve raises interest rates next week. Gross domestic product, the total output of goods and services, probably expanded at a 4.2% annual rate in the first quarter, higher than the government's previous estimate of 4.1%. The Commerce Department is scheduled to release the report, the final first-quarter GDP estimate, on Friday.
BUSINESS
April 17, 1999 | Reuters
U.S. industrial output barely inched ahead in March and a booming home-building industry showed signs of leveling off, according to government and Federal Reserve reports, implying that the economy faces little threat from inflation. Manufacturing production showed a flat 0.1% gain last month after rising 0.3% in February, the Fed said, helping slow output to its weakest rate in more than 8 1/2 years.
BUSINESS
April 16, 1999
The Commerce Department today will issue its monthly report on construction starts for new housing. Analysts are predicting that housing starts for March held at a high level: 1.742 million, at a seasonally adjusted annual rate, versus 1.799 million for February. The Federal Reserve is expected to report today that output of the nation's factories, mines and utilities increased 0.2% in March, the same as in February.
BUSINESS
October 26, 1999 | Julie Tamaki
In yet another sign that the residential real estate market is moving along at a steady pace, sales and prices of existing homes posted year-over-year gains last month in both California and the rest of the nation. State sales of existing homes in September rose to a seasonally adjusted annualized rate of 708,680--a 12.8% jump from the 627,990 pace recorded in September 1998. California sales increased 8.9% from August.
NEWS
June 21, 1998 | From Times Wire Reports
A report released at the U.S. Conference of Mayors annual meeting in Reno cites gaps between white and black home purchasing that could supply officials the grist for a wider dialogue. More than 4 million people have joined the ranks of homeowners in the last three years to lift the national home ownership rate to a record 65.7%, according to the study released by the Joint Center for Housing Studies at Harvard University. But a wide disparity exists between white and minority home ownership.
NEWS
February 4, 1999 | RONALD BROWNSTEIN, TIMES STAFF WRITER
In an unusual public-private partnership, Vice President Al Gore is expected to announce today a new agreement between the federal government, the nation's mayors and the National Assn. of Home Builders to construct 1 million homes in cities over the next 10 years. Under the agreement, the home builders will commit to construct 100,000 homes a year in urban centers, where homeownership rates lag behind the suburbs.
BUSINESS
December 29, 1998 | Julie Tamaki
Americans are expected to buy fewer newly built homes next year, according to the National Assn. of Home Builders. The trade group projects that 781,000 new single-family homes will be sold in 1999. That's down from the 870,000 homes projected for this year, a record high. According to the group, the 1998 new-home market benefited from low interest rates, a strong job market and high consumer confidence.
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