Senator Coleman’s Housing Forum

by Alex Stenback on November 20, 2007

A truly dedicated blogger would have gone down to the Town Hall to cover this forum directly.  Instead, we’ll just rip and post a few notable bullet points from the Strib’s coverage of the affair.

Depth of the problem:
"A congressional study predicts the Twin Cities alone will lose $1.6 billion in property value by the end of 2009."
"Another study, by the Minnesota research group Housing Link, predicts foreclosures across the state — 20,500 through September — will quadruple this year over 2005."

Renters Hit:
"In 2006, 88 renters called [a help hotline] saying they were stuck because their landlord was in foreclosure, Vraa said. So far this year, the number is 349."

Mortgage Brokers Dwindling:
"Brokerage license applications came up for regular review at the end of last month, Bendel said, and early indications are the number of licenses dropped from 4,000 to about 1,400."

Senator Colemans Recommendations:
"He left with two recommendations: that the federal government allocate even more money for foreclosure prevention counseling, and that, on the other hand, it not overreact with sweeping, new real estate and financial regulations."
Coleman: Speed Up Help on Housing [Strib]

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