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

Lawmakers defend Health Minister from Jokowi’s criticism

first_img“Pak Jokowi wasn’t completely correct about [the budget disbursement]. It’s a pity for the minister,” commission chairwoman Felly Estelita Runtuwene said after the hearing.Read also: Jokowi uses reshuffle threat to spur Cabinet into actionThe NasDem Party politician explained that while the COVID-19 budget for the health sector had increased from Rp 75 trillion to Rp 87.55 trillion, of the total, only Rp 25.73 trillion was managed by the Health Ministry.Of the Rp 25.73 trillion, Felly said Rp 1.503 trillion had been allocated for COVID-19 test kits, Rp 33.53 billion for laboratory services, Rp 21.86 trillion for health services, Rp 136 billion for pharmacy and medical devices, Rp 1.96 trillion for health workers and Rp 229.75 billion for public health programs. Lawmakers in the House of Representatives Commission IX, which oversees health care, have defended Health Minister Terawan Agus Putranto over President Joko “Jokowi” Widodo’s criticism of low spending on the health sector amid the country’s struggle to contain COVID-19.In a video of a closed-door Cabinet meeting on June 18, published by the Presidential Secretariat on Monday, Jokowi threatened to reshuffle his ministers for their slow outbreak response. He specifically called out the Health Ministry for having spent only 1.53 percent of its Rp 75 trillion (U$ 5.2 billion) budget.House Commission IX members held a hearing with Terawan on Monday morning and asked the minister about the criticism. They decided that the President’s criticism was “not completely correct”. “Of that total, only Rp 1.96 trillion is on the ministry’s DIPA [budget execution lists] and 17.6 percent has been spent; Rp 331.29 billion for health workers’ incentives and Rp 14.1 billion for compensation for the death of health workers,” she said.She added that the rest of the budget was still being reviewed by the Finance Ministry.“It is not included in the Health Ministry’s DIPA, so it can’t be spent yet.”[RA:;Frontline health workers left waiting for promised stimulus::]The rest of the Rp 87.55 trillion allocated for the health sector was managed by the Finance Ministry and the National Disaster Mitigation Agency (BNPB), she added.“However, we will keep an eye on the Health Ministry’s spending, which indeed isn’t optimal.”Golkar Party lawmaker Melki Laka Lena echoed Felly’s sentiments.”The President’s speech on low spending in the health sector must be seen in the right context,” the said commission’s deputy chairman.Topics :last_img read more

Dexia AM rebrands following acquisition by New York Life IM [updated]

first_imgSpeaking during a conference call, he also said he saw CANDRIAM positioned in a “sweet spot”, able to take advantage of a number of market opportunities.“We are small enough to continue to be flexible, to continue to focus on the local position in each country in Europe – we have 11 operations today – to have this dedicated team with a lot of proximity, and our entrepreneurial spirit and the company culture will remain the same,” he said. However, Abou-Jaoudé also said the backing of “one of the strongest financial groups” would grant it the resources and strength to achieve new objectives and targets.Addressing the two years between DAM’s announcement that it was seeking a buyer and the eventual acquisition by NYLIM, he said: “Clearly, after this period of uncertainty that last two years now, with the change of ownership plus uncertainty over our parent company, this new start, this fresh start will help us to regain business.“We can see the momentum is already in place internally. And, in terms institutional clients, consultants and third-party distributors, there is a lot of interest that is coming over the last 10 days after we signed.”DAM first announced it was up for sale in 2012, it entered exclusive, but ultimately fruitless, talks with Hong Kong’s GCS Capital in late 2012.Over last summer, FinEx Capital then made a bid for the company, but the firm eventually began exclusive talks with NYLIM, culminating in the €380m transaction.CANDRIAM said it would look to build on experience in corporate and high-yield debt, biotechnology, socially responsible investment and European and quant equity strategies.As of the end of December, DAM managed €73bn in assets. Dexia Asset Management (DAM) has rebranded following its recent sale to New York Life Investment Management (NYLIM), and is hopeful that with a new name and new corporate parents, it will be able to have a “fresh start”, its chief executive has said.In a statement, Naïm Abou-Jaoudé said the new name, CANDRIAM, was an acronym of what it regarded as its core company values – conviction and responsibility in asset management.“These two values drive everything we do,” Abou-Jaoudé said. “They are the roots of our expertise, our innovative ideas and a great discipline in our investment processes.”The chief executive acknowledged that the €380m acquisition by NYLIM ended a “period of uncertainty”, and that it might be a while before it can attract new business again.last_img read more

FCPPL review: 7 things we learned from matchday 20

first_imgIn the end, no away team won on the day. And only Hearts were able to get a point.Goals were at a premium unlike like week but surely the sensational result was in Essipong where AshGold lost. But in all these, here are key lessons from matchday 20.First, a reminder of the results.1. Travel is a curseIf there is any consistent trend in the league apart from Ashantigold’s form, it has to be how all teams have been poor on the road.  This was highlighted this week when all teams failed to record awayvictories. The best performing away sides were Hearts of Oak and Berekum Chelsea who could only pick up draws. With nine games left to go in the league, teams will have to perfect their away records as vital points on the road coupled with a good home record could propel teams to higher positions on the log.2. Goals are (too) hard to come byThirteen goals were recorded on this matchday meant an average of 1.6 goals per match. This is a relatively low count considering the high numbers recorded in the previous matchday.  The highest scoring match was in a Kumasi, where three goals were recorded. More worrying was the fact that the leading contenders for the goal king failed to find the net – with the exception of Ahmed Toure. Did coaches work on the defensive side of the game at training this week or did the attackers fail to utilize the chances given them? 3. Aduana are kings of the ‘one goal project’Aduana currently sit second on the log five points adrift of leaders Ashatigold. The Dormaa side recorded their ninth victory at home in ten attempts. More interesting is the fact that this was their seventh one goal victory over an opponent in Dormaa. This home form is reminiscent of their time under Herbert Addo which clinched them their first and only league title in 2009.  Should they continue their “one goal project” and pick up valuable points on the road, the former league champions could end up with the league. This makes their clash against Ashantigold in Obuasi next weekend even tastier.4. Olele is a supermanBarely 24 hours ago, Richard Kingson was writhing in pain after clashing with Christian Atsu to cut short his appearance in Stephen Appiah’s testimonial. To everyone’s surprise, the keeper was in goal against Liberty Professional and kept a clean sheet to boot. He even copped a yellow for time wasting. Was his injury a façade? Did the Oly medical staff pull a miraculous operation on Kingston overnight or was his injury part of the pomp and pageantry of the day?  These are questions best answered by Kingson himself but whatever be the case, Olele is a true superman.  5. BA United’s days are numberedNothing seems to go right in Sunyani at the moment. The Brong Ahafo side are sitting in the relegation zone, nine points from safety and more disturbingly, they could not find a jersey to play their league match until the eleventh hour. BA United are currently sitting on a time bomb and their relegation will be confirmed sooner rather than later. They have not won or picked a single point on their travels this season and with fixtures at Wa, Sekondi and Kumasi yet to come, they are better off making plans for the Division One League next season.6. Lions can’t devour now They sit uncomfortably in third from bottom on the league, which should represent a big source of worry for Randy Abbey’s side. The team that placed second in last year’s league have dipped in form. And markedly so. To worsen matters for Lions, they have been banned from their fortress at Kpando where they have claimed many scalps. It came as no surprise they managed to only draw against a Chelsea side who have been poor on the road in Obuasi. The temporary ban will hit Heart of Lions real hard as they are unlikely to record enough victories as they would like to had they played in Kpando. This is the best time to play against Heart of Lions as they seem to lack the sharp teeth required to devour their prey. 7. Has Duncan found the winning formula?A week ago, there was talk of crisis in the Kotoko camp with some ex-players (read: Sarfo Gyamfi) calling for spiritual help for the club. The mood seems to have changed after the Porcupine Warriors recorded two wins on the trot, one in the FA Cup and one in the league. A key characteristic in these two victories has been the  fact that Duncan stuck to the same starting XI. Conspicuously, both teams included veteran Jordan Opoku who found the going tough in Duncan’s early days at the club. Is he the missing piece of the jigsaw? And has Duncan found the right formula? For now, Duncan must be hailed for these victories but only time will tell if they were no flukes. It begins next week against Medeama in Tarkwa. –Follow Kweku on Twitter: @nana_odumlast_img read more

Fortnite map, Battle Pass, mythic weapons, Aquaman skin & more to know about Chapter 2, Season 3

first_imgEpic Games has finally released Chapter 2, Season 3 and there are plenty of changes in the world of Fortnite.We have a map that’s nearly completely underwater, we have sharks you can ride, there will be driveable cars and so much more. Fans are also excited about the new Mythic Weapons in Season 3 including a new Charge Shotgun (which we’ll get into below). Aquaman in Fortnite Aquaman skin in Chapter 2, Season 3 of Fortnite will basically be the Deadpool skin of Chapter 2, Season 2. You’ll play weekly challenges throughout the season, and once you’ve reached the final challenge you’ll then unlock the skin. Just like the Deadpool skin, you do not need to pay V-Bucks for the skin. It will be a free skin, you just have to put in the time to complete every challenge.Fortnite Season 3 Battle Pass (Epic Games) (Epic Games) Fortnite Chapter 2, Season 3 map map will change throughout the season, but right now it’s flooded most of the island. Part of the map have been vaulted or submerged such as Greasy Graves, The Shark and The Grotto. Another change is The Agency has now changed to The Authority, which you can spot in the middle of the map.Some other map additions include whirlpools, which launch you up into the sky with redeploy. Wind Turbines have also been added back into the game, and you can spot them throughout the map. For some reason, Epic Games has decided to give legs to some chests, and it will be quite the sight when you spot one.The map will get less flooded as the season progresses, unlocking new places. We also know that cars will become driveable once these roadways are revealed. You can read more about cars in Fortnite here.Mythic weapons in Fortnite Season 3You can grab Mythic Weapons at The Authority, The Fortilla, and Catty Corner. At The Authority, you can get the Drum Gun and Glider Gun from Jules. The Glider Gun is the Mythic version of the Batman Grappler. At The Fortilla you can pick up the Mythic Burst AR and Chug Jug from Ocean. And finally at Catty Corner you can pick up the Shockwave Launcher and Mythic Charge Rifle from Kit.In addition to these Mythic Weapons, Fortnite also introduced some new weapons such as the Charge Shotgun. But before we get into those, let’s go over some other weapons changes in Season 3.UnvaultedHunting RiflesChug SplashesChug JugsCompact SMGBolt Action Sniper RifleStink BombsVaultedOriginal Pump ShotgunNew weapons in Fortnite Season 3Ocean’s Burst ARAmmo: Medium BulletsReload Time: 2.3Mag Size: 30Damage: 37Jules’ Glider GunReload Time: 1.3Mag Size: 10Flare GunReload Time: 1.5Mag Size: 6Damage to players: 60GrapplerReload Time: 1.3Mag Size: 10Kit’s Shockwave LauncherAmmo: RocketsReload Time: 2.7Mag Size: 6Charge ShotgunAmmo: ShellsReload Time: 5.5/5.3/4.8/4.5Mag Size: 3Damage: 8/8.5/8.9/9.3/9.8Kit’s Charge ShotgunAmmo: ShellsReload Time: 4.3Mag Size: 5Damage: 10.2Firefly JarDamage to players: 40Build-A-BrellaThis isn’t a new weapon, but it fits in this discussion. Fortnite added the ability to customize your umbrella by completing challenges. You can unlock items to change your style throughout the season. But Epic Games cautions to “choose wisely” because whatever decisions you make will be permanent.Aquaman skin in Fortnite Season 3 Epic Games doesn’t release Patch Notes anymore for Fortnite, but fans have started to compile unofficial Patch Notes as they continue to find new features. We’ll compile what we know about the new season of Fortnite below.Some general changes to know is there is no longer the water storm caused by The Device which we saw in the in-between time ahead of Season 3’s start. Instead, the map has been mostly flooded, but Epic Games has said that the water will recede over the coming weeks, uncovering more locations. As that happens, cars will be driveable throughout the map.”Survive more than just the storm in the aftermarth of its revenge,” Epic Games states. “As the island adapts to its flooded way of life, stay afloat and take on new challenges.”One of those challenges is the arrival of Marauders who crash down onto the island and cause chaos.MORE FORTNITE TIPS:How to find the carsHow to ride and loot sharksCatty Corner vault locationFortnite Season 3 map The main Season 3 Battle Pass costs 950 V-Bucks (about $9.50) with the Battle Bundle costing 2,500 V-Bucks (about $25.00). The Battle Bundle version lets you skip past the first 25 tiers of the Battle Pass.There are 100 tiers overall and below we’ll go through what you unlock at each tier.Level 1 – Ocean Skin (Epic)Level 1 – Fade Skin (Legendary)Level 2 – Flippin’ Away Emote (Uncommon)Level 3 – Sky Swimmers Contrail (Uncommon)Level 4 – 100 V-Bucks (Legendary)Level 5 – Brella Glider (Epic) – Level up, complete challenges, and permanently select your unique style from millions of combinations.Level 6 – Beachcomber Back Bling (Epic)Level 7 – Ocean Wave Wrap (Rare) (Animated)Level 8 – Shark Ride Music (Rare)Level 9 – Beyond the Waves Loading Screen (Uncommon)Level 10 – Tidee Axes Pickaxes (Rare) – Equippable in two-handed or dual-wield styleLevel 11 – Dolphin Banner (Uncommon)Level 12 – 100 V-Bucks (Legendary)Level 13 – Orienteer Emoticon (Uncommon)Level 14 – Top Sail Glider (Rare)Level 15 – Topper Upgrade (Uncommon)Level 16 – From the Deep Loading Screen (Uncommon)Level 17 – Crabby King Spray (Uncommon)Level 18 – Undercurrent Wrap (Rare) (Animated)Level 19 – 100 V-Bucks (Legendary)Level 20 – Scuba Jonesy Skin (Epic)Level 21 – Air Shredder Emote (Rare)Level 22 – Sharkmarine Emoticon (Uncommon)Level 23 – Deep Dive Back Bling (Epic)Level 24 – Waterfall Contrail (Uncommon)Level 25 – Banner (Uncommon)Level 26 – 100 V-Bucks (Legendary)Level 27 – Water Wings Glider (Rare)Level 28 – Hammerhead Spray (Uncommon)Level 29 – I Call Shotgun Loading Screen (Uncommon)Level 30 – Eon Blades Pickaxe (Rare) – Equippable in two-handed or dual-wield styleLevel 31 – Banner (Uncommon)Level 32 – 100 V-Bucks (Legendary)Level 33 – So Square Emote (Uncommon)Level 34 – Meowabunga! Spray (Uncommon)Level 35 – Shaft Upgrade (Uncommon)Level 36 – Convergence Glider (Epic)Level 37 – Eternal Bloom Emoticon (Uncommon)Level 38 – Dive Knives Pickaxe (Rare)Level 39 – 100 V-Bucks (Legendary)Level 40 – Jules Skin (Epic) (Reactive)Level 41 – Master Engineer Spray (Uncommon)Level 42 – Ohm’s Perch Back Bling (Epic)Level 43 – Stardrop Contrail (Uncommon)Level 44 – Get Fixed Loading Screen (Uncommon)Level 45 – Industrious Wrap (Rare) (Animated)Level 46 – Wrenchers Pickaxe (Rare)Level 47 – 100 V-Bucks (Legendary)Level 48 – Banger Music Pack (Rare)Level 49 – Ohm Glider (Legendary)Level 50 – Voyager (Legendary) – Fade Skin StyleLevel 51 – The Lab Loading Screen (Uncommon)Level 52 – Ohm’s Revenge Emoticon (Uncommon)Level 53 – 100 V-Bucks (Legendary)Level 54 – Tippy Tap Emote (Rare) (Traversal)Level 55 – Canopy Upgrade (Uncommon)Level 56 – Banner (Uncommon)Level 57 – Mecha Fish Spray (Uncommon)Level 58 – Floastburg Loading Screen (Uncommon)Level 59 – 100 V-Bucks (Legendary)Level 60 – Kit Skin (Epic) (Reactive)Level 61 – Fishy Flier Glider (Rare)Level 62 – Cloud Cat Emoticon (Uncommon)Level 63 – Infinite Bloom Back Bling (Legendary) (Reactive)Level 64 – Meowstermind Wrap (Uncommon)Level 65 – 100 V-Bucks (Legendary)Level 66 – Photon Contrail (Uncommon)Level 67 – Keyed Up Emote (Rare)Level 68 – Banner (Uncommon)Level 69 – Sk8-Bit Loading Screen (Uncommon)Level 70 – Power Claws Pickaxe (Epic) – Equippable in two-handed or dual-wield styleLevel 71 – Sionica Wrap (Rare) (Animated)Level 72 – 100 V-Bucks (Legendary)Level 73 – Start Strider Glider (Rare)Level 74 – Beyond Zero Loading Screen (Uncommon)Level 75 – Bottom Cap Upgrade (Uncommon)Level 76 – Fade Out Spray (Uncommon)Level 77 – Mini Moon Back Bling (Epic)Level 78 – Banner (Uncommon)Level 79 – 100 V-Bucks (Legendary)Level 80 – Siona Skin (Epic)Level 81 – Sightseer Loading Screen (Uncommon)Level 82 – Vizion Strikers Pickaxe (Rare)Level 83 – Knight Slice Emoticon (Uncommon)Level 84 – Planetary Vibe Emote (Epic)Level 85 – Knight’s Helm Spray (Uncommon)Level 86 – 100 V-Bucks (Legendary)Level 87 – Knight Flight Contrail (Uncommon)Level 88 – Honor Loading Screen (Uncommon)Level 89 – Billy Listen Music (Rare)Level 90 – Comet Crasher Glider (Epic)Level 91 – Reliant Blades Pickaxe (Rare) – Equippable in two-handed or dual-wield styleLevel 92 – Sigil Red Wrap (Rare) (Animated)Level 93 – 100 V-Bucks (Legendary)Level 94 – Stormy Emote (Uncommon)Level 95 – Trail Color Upgrade (Uncommon)Level 96 – Blade Raven Glider (Epic)Level 97 – Banner (Uncommon)Level 98 – Eternal Shield Back Bling (Legendary)Level 99 – 100 V-Bucks (Legendary)Level 100 – Eternal Knight Skin (Legendary)Level 100 – Masked (Legendary) – Fade Skin Stylelast_img read more

Farah shock winner of BBC award

first_img“It is pretty amazing and hard to think about,” Farah, who was not present at the awards ceremony in Liverpool, told those in attendance via video link.“I didn’t imagine I was ever going to win this but anything can happen. If you work hard you can achieve your dreams.“I just cannot believe I have won.”Roger Federer was voted BBC overseas sports personality of the year for a record fourth time earlier in the week after an astonishing season during which he picked up two more Grand Slam titles.Share on: WhatsApp Paris, France | AFP | Britain’s four-time Olympic gold medallist Mo Farah was named BBC sports personality of the year for the first time on Sunday, edging out motorcycling champion Jonathan Rea to the award.Farah, 34, successfully defended his 10,000-metre title at the World Championships in August, although he missed out on another distance double after taking silver in the 5,000m.He retired from the track later that same month to focus on road racing and has said he could run the marathon at the 2020 Olympics in Tokyo.Farah earned 83,524 votes — 2,957 more than Northern Irishman Rea, who became the first rider to win three consecutive World Superbike titles, while double Paralympic champion Jonnie Peacock came third.Heavyweight boxer Anthony Joshua, the bookies’ favourite to land the prize, finished fourth in a year that saw the 28-year-old defeat Ukraine’s Wladimir Klitschko in an epic world title fight.last_img read more