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

George Edward Kraus

first_imgThose surviving who will cherish George’s memory include his mother, Josephine Kraus; three brothers, Don (Betsie) Kraus of Hope, Dan (Sarah) Kraus of Brookville, Al (Lisa) Sellers of Osgood, and a sister, Ruth Burger of New Trenton.  He was preceded in death by his father, Kenneth in June of 1990 and a brother, Michael Kraus in December of 1990. Friends may visit with the family on Sunday, February 24, 2019 from 2 until 6 p.m. at Cook Rosenberger Funeral Home, 929 Main Street, Brookville.  Funeral services will be held Monday at the funeral home and burial will follow in Glen Haven Cemetery, Harrison, Ohio. George Edward Kraus, of Brookville, was born on June 18, 1962 in Connersville, Indiana, a son to Kenneth E. and Josephine Locke Kraus.  He graduated from Franklin County High School in 1980 and later became a truck driver.  He enjoyed working and in his spare time, watching T.V.  On Saturday, February 16, 2019 at the age of 56, he passed away suddenly due to complications from an automobile accident.center_img Memorial contributions can be directed to New Trenton Fire Department.  To sign the online guestbook please visit  The staff of Cook Rosenberger Funeral Home is honored to care for the family of George Kraus.last_img read more

Jeff Hendrick happy to have come good on tricky night for Republic of Ireland

first_img Press Association The Derby midfielder produced one of the few moments of genuine quality in Monday’s 1-0 win at the Aviva Stadium when he cut in from the left, slipped the ball through one defender’s legs and then danced past two others before picking out striker Jonathan Walters in front of goal. His 69th-minute intervention proved crucial on the night, but it came after he had endured a difficult start to the game with Ireland struggling to find their rhythm. Hendrick said: “I gave the ball away maybe three times before it, going sideways and backwards and not really being positive with the ball, so in my head, I was saying, ‘Next time I get it, I’m just going to go at them and show a bit of positivity’. “Thankfully it worked and Jonny got the goal. The two of them were closing me down, so obviously I had to try to go through them. It went through the legs and I was happy, and then the third player ran out and thankfully I went past him. “I could have maybe fallen over, the way it was going before, but I got past and Jonny made a great run and just tapped it in, and obviously we are all delighted.” Hendrick’s scintillating run rekindled memories for one of his team-mates as he looked on from the other end of the pitch. Central defender John O’Shea produced a moment to remember during his early days at Manchester united when he famously “nutmegged” Real Madrid star Luis Figo during a Champions League quarter-final in 2003. O’Shea said of Hendrick’s effort: “He must have been watching videos of me from a few years ago!” Hendrick won his 15th senior cap against the Georgians and is rapidly becoming a fixture in Martin O’Neill’s midfield, which will be depleted for next month’s showdown with Germany after both Glenn Whelan and James McClean picked up third bookings of the campaign. The 23-year-old said: “Obviously I’m happy the manager has shown a bit of faith in me by playing me in the games. I have got to work hard not only for the team, but for myself. I don’t want to let the players down when I’m out on the pitch. “That’s the way we all are – even the lads who aren’t playing – we are all cheering each other on. That’d how tight the group is.” center_img Jeff Hendrick admits he was having one of those nights before he set off on the run which led to the decisive goal in the Republic of Ireland’s priceless 1-0 Euro 2016 qualifying victory over Georgia. last_img read more

Superlatives from No. 7 Syracuse’s 1st loss of the season, falling 17-16 to No. 11 Virginia

first_img Facebook Twitter Google+ Published on March 4, 2018 at 2:34 pm Contact Charlie: | @charliedisturco CHARLOTTESVILLE, Va. — In a game that featured two of the Atlantic Coast Conference’s top teams, No. 7 Syracuse (3-1, 0-1 ACC) couldn’t pull away from No. 11 Virginia (5-0, 1-0) on Sunday afternoon at Klockner Stadium, losing 17-16. After taking a two-goal lead into the half, the Orange struggled to keep momentum, as Virginia used a 5-1 run to take the lead. That cued a back-and-forth contest until Virginia’s Avery Shoemaker broke free and gave UVA a lead it would never give up.Here are the superlatives from the game.The big moment: Shoemaker’s go-ahead goalShoemaker caught the ball and lined up against her defender. As the clock ticked under four minutes with the game tied at 15, UVA had a chance to take a late lead against the Orange. She drove on her defender before breaking into open space and firing. Syracuse goalie Asa Goldstock stuck her leg out but the ball bounced under her and into the back of the net.Stud: Kasey BehrAdvertisementThis is placeholder textVirginia’s Kasey Behr was all over the place on Sunday afternoon, making her mark in multiple areas. She led the Cavaliers with four goals, opening the second half with a goal in what became a 5-1 Virginia run. Behr added an assist, six draw controls and even forced a pair of caused turnovers in the win. On a day where both teams battled offensively, Behr took advantage and broke down the SU defense.Dud: Draw ControlsThe previous loss of sophomore draw-control specialist Morgan Widner for the remainder of the season with a knee injury hurt Syracuse on Sunday. After a five-goal run late in the first half put the Orange up, 8-4, the Cavaliers won three of the ensuing four draw controls and used a 4-0 run of its own to tie the game. SU finished just 7-for-18 in the first half and those struggles carried over into the second half. The Cavaliers won five straight to open the frame and ended up winning the draw-control competition, 20 to 14.Highlight: Emily Hawryschuk’s goalHawryschuk got possession and worked her way toward the UVA cage before being tripped up and falling to the ground. With no call on the play and a Virginia player trying to poke the ball loose, Hawryschuk got up and kept driving. She pushed her way through multiple Cavalier defenders before beating goalie Rachel Vander Kolk for Syracuse’s first goal of the second half. Hawryschuk finished with four goals, but none came more challenging than the Orange’s first possession to open the final half.Lowlight: Virginia’s 5-1 run to open second halfSyracuse pulled away from UVA during the last minute-and-a-half in the opening frame, taking a two-goal lead on the Cavaliers. But the second half was a complete 180 with Virginia dominating. Outside of Hawryschuk’s goal, Virginia dominated in almost every aspect during its run. It went 5-for-6 on draw controls and outshot the Orange 8-1. The Orange had not given up more than 12 goals this season before Sunday — and not seven minutes into the second stanza, the Cavaliers scored goal No. 13. SU goalie Asa Goldstock struggled in the second half, unable to stop Virginia’s offense that constantly pressured the Orange. Commentslast_img read more