New Report on Rural 2000-2010 Population Growth: White Pop Grew by 1%; Minorities by 21%.

Report from Carsey Institute is HERE. 

From the report: 

Between 2000 and 2010, the minority population, which included everyone other than non-Hispanic whites, accounted for 82.7 percent of the nonmetropolitan population gain, even though minorities represented just 21 percent of the rural population.

The minority population grew by 1.8 million (21.3 percent) during the decade compared with a gain of just 382,000 (0.95 percent) among the much more numerous non-Hispanic white population

Originally created and posted on the Oregon Housing Blog.

New National Summary Reports: How Recovery Act Working for Cities and Rural Areas.

Two national summary reports, no state or local data.

HUD cities report is HERE. HUD PR HERE provides best summary.

USDA rural report is HERE; second page of USDA report provides concise listing of national accomplishments.

Originally created and posted on the Oregon Housing Blog.

New GAO Report on Rural Homelessness.

New 59 page report is HERE.  

I have pasted below the tables and figures from the report, along with hard copy (not PDF) page numbers:

Number	Description	Page
Table 1	Typology of Definitions of “Homelessness” among Federal Agencies with Targeted Homeless Assistance Programs, as of July 2010	5
Table 2	Rural Funding within HUD’s CoC Programs, Based on Grant Applicant Reporting as Rural or Not	21
Table 3	Urban and Rural Fiscal Year Funding for VA’s Capital Grant Awards for the Grant and Per Diem Program Based on Grant Applicant Reporting as Rural or Not	22
Table 4	Possible Needs of the Homeless Population and Potential Corresponding Barriers in Rural Areas	27
Table 5	Examples of Supportive Services That Federal Agencies, Excluding HUD, Can Provide to Persons Experiencing Homelessness	34
Figure 1	Federal Programs That May Benefit Persons Experiencing Homelessness in Rural Areas	15
Figure 2	Percent of Total Federal Funding Targeting Homelessness by Agency for Fiscal Year 2009	20
Figure 3	HUD's CoC Housing and Supportive Services Distribution	36

Originally created and posted on the Oregon Housing Blog.

USDA Releases 2009 Estimate of Cost of Raising Children: Monthly Housing Cost Per Child is $153-$297 Depending on Location and Family Composition.

Report is HERE: PDF pages 14-15 are a discussion of method of estimating housing costs; tables are found in PDF pages 32 to 38. 

I created the table below to show the differing housing expenses based on location and family composition. 

I added a column that shows the % of average income per child for housing expense, it varies from a high of 11% for US single parent household to a low of 5% for a Husband/Wife family in the rural US.

Observations:

1. There is BIG difference in average income between single parent and husband wife households
2. Housing expense per child in the URBAN West for a husband wife family are the highest at $297 per month-that's 95% HIGHER than the husband wife, RURAL all US per child monthly housing expense of $153.

HH Type, Location	Housing Expense	MONTHLY Housing Expense	Income Group	Average income	CALCULATED: Housing Expense/ Average Income	Table
Single Head of Household,  ALL US	$  2,810	$           234	$  56,670	$  25,130	11%	7
Husband, Wife, ALL US	$  2,961	$           247	$  56,670	$  36,250	8%	1
Husband, Wife, URBAN West	$  3,560	$           297	$  56,650	$  36,230	10%	3
Husband, Wife, RURAL ALL US	$  1,830	$           153	$  56,880	$  36,380	5%	6

Originally created and posted on the Oregon Housing Blog.

Rural Housing SF Loan Program Change Would Increase Fees to Borrowers, Eliminate Current Subsidy, and Allow Program Expansion.

CBO Cost estimate for changes to RHS 502 single family program, which is projected to run out of money in May, is HERE.

Thomas link to bill, H.R. 5017, that would make changes that CBO has now scored is HERE.

Changed program would increase fees to borrowers to remove current subsidy and allow program expansion:

For fiscal year 2010, RHS received an appropriation of $173 million, which the agency expects will cover the cost of about $12 billion in loan guarantees. According to RHS, that subsidy appropriation will be exhausted in May 2010. Enacting this legislation would change the terms of the loan guarantee program such that it would no longer have an estimated cost to the government under FCRA accounting, but would result in a small savings (by increasing offsetting collections).....
Under this legislation, the cap on annual premiums for the RHS single-family program would increase from 2 percent to 4 percent of the loan amount. According to RHS, the agency expects that it would charge borrowers an up-front premium equal to 3.44 percent of their loan amounts under this new authority. Based on information from RHS, CBO estimates that increasing the up-front premium to this level would lower the estimated subsidy rate for the program from 1.44 percent to -0.06 percent. CBO estimates, based on information from RHS, that about $12 billion in additional loan guarantees would be made during the remainder of 2010 assuming that authority is provided in a supplemental appropriations bill within the next few months. Therefore,CBO estimates that implementing the bill would result in offsetting collections of $7 million in 2010. Because the value of the fees collected by GNMA is estimated to exceed the cost of loan defaults in each year, the Administration estimates that the GNMA mortgage-backed securities (MBS) program will have a subsidy rate of -0.24 percent in 2010, resulting in net receipt collections to the federal government. CBO estimates that about 60 percent of the new loan guarantees made by RHS under this legislation would be included in GNMA=s MBS program. Thus, CBO estimates that under the bill, the GNMA mortgage backed securities program would realize an increase of about $17 million in offsetting collections in 2010.

Originally created and posted on the Oregon Housing Blog.

Oregon RD Director Named: Vicki Walker.

Oregonian story is HERE.

Note: Unlike HUD Field Office Director positions state RD Director jobs are political appointees and not career civil service appointments.

Originally created and posted on the Oregon Housing Blog.

How Much Does it Cost for Each $1 Billion in Federal Housing Loan Guarantees? Which Programs Cost the Least/Most?

For federal budget purposes all loan guarantee programs are "scored" as either requiring a set aside of money to cover future losses ("positive credit subsidy") or as producing net revenue ("negative credit subsidy").

More (112 pages) about loan subsidy costs can be found in the OMB FY 2010 budget document, Federal Credit Supplement.

To show you how ALL federal HOUSING loan guarantee programs compare in cost I produced the attached PDF graph HERE, showing the projected federal budget cost/(revenue) for $1 Billion dollars in loan guarantees, as scored in the FY 2010 budget.

Which Housing Loan Guarantee Program Cost the Least/Most Per $1 Billion in Loans?

• A HUD multifamily refinance program (Section 223f) produces the greatest net revenue; producing $32.8 Million in net revenue for every $1 Billion in loans made.
• The proposed HUD HOPE for Homeowners program would be the most expensive, requiring an appropriation of $237.2 Million for every $1 billion in loans made.

Example: RD and HUD Multifamily Loan Costs Per $1 Billion in Loan Guarantees
Loan guarantee programs serving similar needs can also have significantly different costs. As shown on the PDF graphic:

1. A Rural Development multifamily loan program, Section 538, requires $156.8 million in appropriations
2. In contrast, two HUD/FHA Multifamily loan programs produce net revenue:

• The FHA Section 221d4 produces $11 million in net revenue.
• The FHA Section 223f program produces $32.8 million in net revenue.

So, $1 Billion in loan guarantees for the RD Section 538 program are projected to cost:

• $167 million MORE than the FHA 221d4 program and
• $189 million MORE than the FHA Section 223f program.

NOT Included in the PDF graphic:

• Costs for DIRECT loan programs of all kinds.
• Cost for NON housing loan guarantee programs.

ORIGINALLY CREATED AND POSTED ON THE OREGON HOUSING BLOG.