Study: Falling home prices not helping many first time home buyers

first_imgIn spite of the softening real estate market, Vermonters earning the median income still could not afford the median priced home, according to a new report released today.The report, “Between a Rock and a Hard Place: Housing and Wages in Vermont,” is the latest in an annual series that tracks housing costs in relation to Vermonters’ incomes. For the last several years, Vermont’s tight housing markets have driven up prices while wages, particularly those employing the most Vermonters, have not kept pace. During the recession, even as home prices drop, opportunities for low-income and first time buyers were limited due to high fees and higher interest rates for buyers with moderate credit scores.“The real estate market was helped this year by low interest rates and a generous federal tax credit,” said Sarah Carpenter, Executive Director of Vermont Housing Finance Agency. “The problem was those low rates weren’t available to many buyers and the tax credit wasn’t available at closing to help pay for the higher down payments and fees lenders now require. Few first time buyers can save up the down payment and closing costs needed to buy a home even if the median price dropped.”Among the report’s findings:The median purchase price of a home in Vermont dropped by 5% to $190,000, the first substantial fall on record.A Vermont household would need an annual income of $57,000, and an estimated $15,000 for down payment, fees and closing costs, to afford that home.The median household income remained the same as last year, $52,000, although once inflation is factored in, Vermonters saw a 2% decrease in buying power.The average Fair Market Rent for a modest two-bedroom unit is $920 a month, and more than half of Vermont’s occupations have median wages less than the $36,800 needed to afford that rent.An additional 3,000 households become cost burdened annually, meaning more Vermonters paying more than 30% of their income for housing. The state is the 7th and 15th worst state in the nation for cost burdened renters and owners, respectively.The recession is more than many households on the edge can bear. Despite stimulus programs and increased funding, the number of people who are homeless in Vermont increased 22% since 2008 when the recession began.“Vermonters continue to need affordable housing and the state’s economy needs housing construction in order to help it emerge from this recession,” said Rob Naylor of Naylor & Breen Builders in Brandon, VT. “Our company has seen firsthand the effects of the real estate market, but because of the programs designed to fund the construction and renovation of housing for lower-income residents, we were able to keep a crew working to build the units this report clearly shows are needed. These projects have created permanently affordable housing, while also keeping my guys employed.”One family’s story illustrates the difficulty accessing both the rental and homeownership market. Janet Green, her husband and son lived in an apartment in Richmond, but were commuting to work in Burlington. “The commuting had become a lot for us, and we wanted to raise our son in Burlington so we started looking for a place to rent. But it was so expensive!” In May 2009 they decided to attend a homebuyer education workshop to see if homeownership was an option. It was, through the Champlain Housing Trust’s shared equity program, and after searching for a number of months, they bought a condo in Burlington and moved in on Halloween.“We could never have bought a home on the open market — even renting seemed to stretch our budget. But with CHT’s program, we were fortunate to be able to do it,” added Green.Source: VHFA. 6.15.2010. Copies of the new report are available online at the VHFA website, is external)last_img read more

Ronaldo models Juventus latest home kit as iconic stripes return

first_img Read Also: Barcelona, Inter Miami offer contract to Chelsea winger Willian Ronaldo will be hoping it is third time lucky in the new kit for his hopes of becoming Serie A’s top scorer in a season. After Juve lost 2-0 at Cagliari on Wednesday, the Portugal star remains on 31 league goals for the season. His main rival to be Capocannoniere, Lazio’s Ciro Immobile, scored in a 2-0 win over over Brescia to take his 2019-20 total up to 35. FacebookTwitterWhatsAppEmail分享 The result is the black bands being given a “brush stroke” aesthetic to update the pattern which is, according to Adidas, “synonymous with the club’s core identity.” The trim is also flecked with gleaming gold which is only fitting for Ronaldo and the rest of the reigning champions. Promoted Content5 Of The World’s Most Unique Theme ParksPlaying Games For Hours Can Do This To Your BodyZodiac Signs Reimagined As Women Look IncredibleWhat Happens To Your Brain When You Play Too Much Video Games?The Very Last Bitcoin Will Be Mined Around 2140. Read MoreA Guy Turns Gray Walls And Simple Bricks Into Works Of ArtIs This The Most Delicious Food In The World?Best & Worst Celebrity Endorsed Games Ever Made6 Incredibly Strange Facts About HurricanesCouples Who Celebrated Their Union In A Unique, Unforgettable WayA Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This DayCan Playing Too Many Video Games Hurt Your Body? Cristiano Ronaldo has helped Juventus unveil their new kit for 2020-21  campaign, heralding a grand return for one of the club’s most enduring hallmarks. The Old Lady will once again be playing in their iconic black-and-white stripes after abandoning them last year in favour of a controversial half-and-half design (although manufacturers Adidas prefer to describe it as “celebrated” in their press release for the new kit).center_img Inspired by modern art, the new shirt is intended to have a fresh, contemporary take on Juve’s famous stripes while still being respectful of the club’s vaunted traditions. Loading… last_img read more

MLAX : EIGHT BALL: Adjustment in offensive plan leads SU to 8 4th-quarter goals in blowout of Friars

first_imgFOXBORO, Mass. — John Desko had seen enough of his team unsuccessfully trying to read Providence’s defensive changes. Standing around and waiting wasn’t working, and the scoreboard showed it.‘The defenses kind of make you do that, you have to kind of see what they’re in,’ said Desko, Syracuse’s head coach. ‘We thought we could take advantage of their slides in the first half, and we said the heck with it. We’ll start moving.’Syracuse broke out in the second half with nine consecutive goals — including eight in the fourth quarter — to beat Providence 13-3 in front of 5,316 in the New England Lacrosse Classic at Gillette Stadium. At the same time, the Orange defense held the Friars scoreless after the first quarter. For a while, Providence held the No. 1 Orange (10-1, 3-0 Big East) in check. In the end, though, the score looked just as badly as it usually does for the Friars (3-8, 0-3 Big East). Syracuse has completely dominated Providence in the last three games the two teams have played, with the Orange outscoring the Friars 49-11. So as the game went into halftime Saturday, the score reflected a surprising move away from those gaudy numbers.With the score 4-3 in favor of SU, the offensive struggles against lowly Providence called for a switch of the game plan. The Orange couldn’t figure out PC’s defensive schemes. At one moment, it would be man to man. The next, zone. Not making anything easier was the fact that Syracuse’s worst minutes were Providence’s best.AdvertisementThis is placeholder textThe Friars scored their only three goals in the opening 10 minutes of the game. Providence also tried at times to limit SU’s scoring by holding the ball, just as it did in last season’s game. With a little less than two minutes remaining and the score knotted at 3-3, Friar midfielder Steve Lydon took the ball behind the net and ran back and forth or stood in one place, but never passed. SU had to figure out a way to respond.‘We kind of switched up our offense a little bit,’ said SU attack Stephen Keogh, who had three goals and two assists. ‘We just started getting more movement and being unselfish, just throwing the ball around quickly. It was a little too close early, but we pulled away.’For most of the first half, the Orange stood around in its offensive zone. There was very little ball movement, as SU tried to take advantage of the Friars’ defensive slides. Syracuse took shots from the outside, but many of them were inaccurate and sailed high over the top of the net and went out of bounds. In the first half, SU took 19 shots but scored only four goals.Providence had Syracuse guessing, but the Orange wasn’t able to guess right. That’s what called for the switch of the offense, and in the fourth quarter, it broke out in a big way. Ball movement became key as the Orange passed the ball around the zone to create opportunities.With just less than 12 minutes remaining and the score at 6-3, midfielder Jeremy Thompson had the ball and stood about 20 yards in front of the net. He sent a 10-yard pass straight up the middle of the field to Keogh, who then turned around and fired a shot into the cage to give SU a four-goal advantage. That goal started a barrage of rapid-fire goals.‘You knew the offense had it in them,’ Syracuse goaltender John Galloway said. ‘It was just waiting to break out.’Even Galloway got involved in SU’s offense, sending a long pass across the field to long-stick midfielder Joel White in the fourth quarter in a clearing situation. White took the pass and quickly converted a goal. At that point of the game, SU’s scoring troubles were virtually obsolete.In a span of two minutes and 13 seconds, the Orange scored four goals. That was a stark contrast to the 15-minute stretch in the third quarter and the start of the fourth, when it failed to find the back of the net. Within a couple of minutes, the game went from a surprising defensive battle to the blowout that was expected.‘We just kind of went with it,’ Desko said. ‘We changed our offense in the fourth quarter, and fortunately it broke free in the fourth quarter with a bunch of goals.’ Facebook Twitter Google+ Published on April 15, 2011 at 12:00 pm Contact Chris: | @chris_isemancenter_img Commentslast_img read more

Tipp man in Six Nations team

first_imgDave Kearney, Mike Mc Carthy and Sean O’Brien had already been ruled out for the rest of the tournament while Tadhg Furlong and Rob Herring remain with their provinces as they recuperate form injury.Meanwhile, England coach Eddie Jones has named a 32 man training squad for Saturday’s clash with Ireland at Twickenham.Luther Burrell replaces Ollie Devoto who suffered concussion playing for his club on Saturday.Josh Beaumont sustained a dislocated shoulder during his game for Sale Sharks against Worcester Warriors on Saturday and will not join up with the squad. Cian Healy and Mike Ross are back in the squad having missed the draw with the Welsh and the defeat to France through injury.Having scored a wonder try for Ulster over the weakened Craig Gilroy is also included.Cahir’s Tommy O’Donnell and Nenagh’s Donnacha Ryan are also in the 34 man squad last_img read more