SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
Morning Shorts

Thursday, Sep 30, 2010

* Home prices to take hit next year in many markets

The Standard & Poor’s/Case-Shiller 20-city index released Tuesday ticked up in July from June. But the gain is merely temporary, analysts say. They see home values taking a dive in many major markets well into next year.

That’s because the peak home-buying season is now ending after a dismal summer. The hardest-hit markets, already battered by foreclosures, are bracing for a bigger wave of homes sold at foreclosure or through short sales. A short sale is when a lender lets a homeowner sell for less than the mortgage is worth.

Add high unemployment and reluctant buyers, and the outlook in many areas is bleak. Nationally, home values are projected to fall 2.2 percent in the second half of the year, according to analysts surveyed by MacroMarkets LLC. And Moody’s Analytics predicts the Case-Shiller index will drop 8 percent within a year.

* Index Shows Increase in Housing Prices

* Mortgage companies may be contributing to delinquencies in foreclosure rates

Despite the passage last year of the federal Home Affordable Modification Program, foreclosure filings in Chicago’s six-county region rose 38 percent from the first half of 2009 to the first half of 2010, according to data from the Woodstock Institute, which tracks foreclosure activity in the region.

The program, part of President Obama’s comprehensive plan to address the housing crisis and restore economic stability, helps struggling homeowners avoid foreclosure by reducing their monthly mortgage payments.

Among other criteria, eligible candidates must have a monthly mortgage payment greater than 31 percent of their gross monthly income and have suffered a loss of income that prevents them from making payments.

But Katie Buitrago, policy communications associate for the institute, said actual delinquency is not a requirement.

* Marin: Feel Safer? Thanks to Cook County government, you’re not

* Chicago’s uninsured ahead of national average

There were more than 550,000 uninsured people — or 19.7 percent of the population — in the city of Chicago last year, according to the bureau’s American Community Survey. In Illinois, nearly 1.7 million people, or 13 percent of the state’s population, did not have insurance.

Nationally, there were 50.7 million uninsured residents, or 16.7 percent of the population, according to the data.

* Joliet Census data shows bump in population, steady poverty levels

Despite a 24 percent spike in the number of people below the poverty level statewide over the past 10 years, Joliet’s numbers remained steady over the years between 10 and 13 percent. In 2009, the number of people in poverty was 11 percent.

However, Joliet’s median household income did dip slightly from $61,061 in 2008 to $53,687 in 2009, likely due to an increase in unemployment.

* Median household income in Peoria County drops 7.8 percent

* State’s Attorney calls for probe into delinquent tax sale auctions in Madison County

Mudge’s request follows by two days the publication of a News-Democrat investigation, which showed that Bathon took in about $140,000 in campaign donations from investors who bought delinquent property tax debts.

Those investors were routinely allowed to buy property owners’ tax debts at an 18 percent penalty rate — the maximum allowed under state law. The investors took in up to $200,000 apiece in penalties for some years.

“State law affords county treasurers wide latitude on how to conduct these sales,” Mudge wrote. “However, I believe an independent review is in order in light of the recent concerns expressed about these former practices.”

Mudge, a Democrat, added: “Everyone should be careful not to politicize this exercise during a campaign season. These authorities are aware of the situation, and I am confident that they will conduct a fair, independent and proper review.”

* Investigation: Tax auctions look ‘like government-sponsored loan-sharking’

* Tax buyers, politicians benefit from tax sales

* Madison County Republicans call for investigation

* Madison County Democrats fire back on tax sale

* News-Democrat: What’s really up for auction?

* LORIMOR: Timing is right to push for southern Illinois MSA

Despite it being one of the larger communities south of Springfield, Carbondale and its surrounding area is not within one of those designated areas. That’s not uncommon, but most of the land within Illinois’ borders east of Interstate 55 and south of Interstate 72 is also outside of an MSA. That means communities such as Charleston-Mattoon, Effingham, Mount Vernon, Marion and, of course, Carbondale can be easily overlooked in government reports.

Seems like quite a blind spot, especially when talking about a region that relies heavily on government programs to get by.

* Unemployment Figures Improve in Some Counties

Franklin County dropped 1.4%, but is still ranked 3rd highest statewide.

Hardin County remained the same at 12.3 unemployed. Perry County dropped from 12.5% to 11.8% And Saline County is out of double digits now at 9.9% from last year’s 11.2%.

* Cook County Property Tax Bills Out Late This Year

Different officials are blaming each other for why the bills are going out late. But regardless of who’s to blame, Blue Island Mayor Don Peloquin says his city will be hurt by the late payments.

* Conrad Black asks judge to toss conviction

* Judge Posner: Conrad Black’s crimes ‘old-fashioned fraud’

* Demonstrators call for jobs program funding

* Some progress on Metra watchdog

Metra officials said they also want an independent watchdog but prefer someone picked by the Regional Transportation Authority, which has oversight of the three transit agencies in the region. Another option is an IG named by the people who appoint the Metra board of directors, who include the Chicago mayor, the chairman of the DuPage, Kane, Lake, McHenry and Will County Boards, and Cook County Board members.

* 2011 CTA budget to avoid fee hikes, service cuts

Once again the CTA, which faces almost $7 billion in unfunded capital needs, will reluctantly use capital funds meant for improvements to help balance the day-to-day 2011 operating budget and avoid reducing services again, according to the proposed budget released Wednesday.

* CTA bus driver OT soars since layoffs

* Lehner: A Metra rider’s lament

* Pedestrians face local fines for ignoring train signals, crossing tracks

* Milbank: The power of Jarrett

Certainly, Jarrett fills an important role for Obama: She has deep and personal ties to the president, as well as undivided loyalties, and can talk honestly to him on a first-name basis. But current and former White House officials I spoke with raised questions about Jarrett’s effectiveness and judgment.

* Daley on Olympics: “It’s all about money”

* Southtown Star: Commissioners now free to just tweet it. But why?

* Aurora seeks to slash payroll costs

With a projected $18 million deficit looming for 2011, the city has once again offered its employees the chance to voluntarily leave city service, with incentives.

For those who stay, the city is requiring each employee to give up 10 percent of their salary. That money can come from wages or benefits. Chief Management Officer Carie Anne Ergo said that however it’s done, the city is seeking a total of $8.4 million in savings.

That amount, Ergo said, would minimize upcoming layoffs, but not prevent them.

* Mt. Prospect offers buyouts to avoid layoffs

* Carol Stream mayor defends red-light cameras

* Orland Square Mall tax objection could take more than 18 months to resolve

* I-Team Report: Cicero’s Super Car

* Tazewell County adjusts health plans

* Veterans Home receives second round of funding for construction projects

* Champaign schools budget shows deficit

* Grafton City Council to vote for annexation

* Vote fraud, tax trial resumes for former East St. Louis councilman

Prosecutors allege that Collins lived at 4382 Redfield in Swansea but voted from 22 Loisel Drive in East St. Louis in an election in which a federal candidate was on the ballot. Collins is accused of using the Loisel address to get work in and around East St. Louis and to be the Democratic committeeman in Precinct 26.

* Judge allows former ESL councilman limited mobility until sentencing

* Fairview Heights Mayor says council has formed voting blocs that harm city

* Tea Party to host rally Saturday in O’Fallon

* New Mayor in West Frankfort

- Posted by Barton Lorimor        


2 Comments
  1. - Rich Miller - Thursday, Sep 30, 10 @ 3:10 pm:

    Poor Barton. He got up at 5 in the morning to put all this together and nobody shows him love.


  2. - Barton Lorimor - Thursday, Sep 30, 10 @ 3:19 pm:

    Nobody knows the trouble I’ve seen through this gig, Rich :)


Sorry, comments for this post are now closed.


* Oppo dump
* Rauner doubles down
* Back in the news
* Question of the day
* Time now for another edition of "Fractured Fairy Tales"
* Frackers loving them some Bruce
* Rodney Davis launches first TV ad of the fall campaign
* Caption contest!
* Today's number: 9 percent
* *** UPDATED x2 Stock pics - Rauner responds *** Rate Gov. Quinn's new TV ad
* Now, that's a lede
* SUBSCRIBERS ONLY - Supplement to today’s edition
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

          
        * IFA 2014 preview: Note 4, Xperia Z3, and holy smartwatches! | Pocketnow Weekly 111
        * HTC One M8 for Windows review, abridged: what’s hot and not in 60 seconds (Video)
        * Wearables and permanence: will you body-mod for tech? (poll)
        * Three things you didn’t know about the Kyocera Brigadier (Video)
        * Lunchboxed Galaxy Note 4 possibly caught on video
        * Original Sidekick retro phone review [video]
        * Next iPhone will be unveiled on September 9

        * Steve Wozniak Believes Wearables Are A Hard Sell, But Apple Could Do It
        * Mom’s Facebook Update Results In Her Son Being Expelled From School
        * Android Smartphones Used More To View Porn Than iOS
        * Hortonworks gets more serious about real-time data with Kafka integration
        * The Flat Tiles Home Screen
        * Apple Constructs Building At Flint Center, Fuels The Frenzy
        * iWatch Launch Alongside iPhone 6 “Confirmed” By Bloomberg

        * Bassitt set to debut Saturday night against Tigers
        * Thomas hosts Big Hurt Brewhouse groundbreaking
        * Chris Bassitt to start for White Sox on Saturday
        * Reading Room: The attendance debate reaches Kansas City
        * Kluber miffed by post-review denial of warmup pitches
        * Abreu ups RBI total to 96 in White Sox victory
        * Danks hopes to go deep against Indians in finale


        Main Menu
        Home
        Illinois
        YouTube
        Pundit rankings
        Obama
        Subscriber Content
        Durbin
        Burris
        Blagojevich Trial
        Advertising
        Updated Posts
        Polls

        Archives
        August 2014
        July 2014
        June 2014
        May 2014
        April 2014
        March 2014
        February 2014
        January 2014
        December 2013
        November 2013
        October 2013
        September 2013
        August 2013
        July 2013
        June 2013
        May 2013
        April 2013
        March 2013
        February 2013
        January 2013
        December 2012
        November 2012
        October 2012
        September 2012
        August 2012
        July 2012
        June 2012
        May 2012
        April 2012
        March 2012
        February 2012
        January 2012
        December 2011
        November 2011
        October 2011
        September 2011
        August 2011
        July 2011
        June 2011
        May 2011
        April 2011
        March 2011
        February 2011
        January 2011
        December 2010
        November 2010
        October 2010
        September 2010
        August 2010
        July 2010
        June 2010
        May 2010
        April 2010
        March 2010
        February 2010
        January 2010
        December 2009
        November 2009
        October 2009
        September 2009
        August 2009
        July 2009
        June 2009
        May 2009
        April 2009
        March 2009
        February 2009
        January 2009
        December 2008
        November 2008
        October 2008
        September 2008
        August 2008
        July 2008
        June 2008
        May 2008
        April 2008
        March 2008
        February 2008
        January 2008
        December 2007
        November 2007
        October 2007
        September 2007
        August 2007
        July 2007
        June 2007
        May 2007
        April 2007
        March 2007
        February 2007
        January 2007
        December 2006
        November 2006
        October 2006
        September 2006
        August 2006
        July 2006
        June 2006
        May 2006
        April 2006
        March 2006
        February 2006
        January 2006
        December 2005
        April 2005
        March 2005
        February 2005
        January 2005
        December 2004
        November 2004
        October 2004

        Blog*Spot Archives
        November 2005
        October 2005
        September 2005
        August 2005
        July 2005
        June 2005
        May 2005

        Syndication

        RSS Feed 2.0
        Comments RSS 2.0
        WordPress

        Loading


        * Quinn, Rauner trade barbs on IDOT, taxes..
        * Newark Launches 'Safe Passages' Transportation .....
        * Quinn and Rauner are tangling over the minimum .....
        * Highland Parkers play key roles in U.S. Holocau.....
        * Gov. Pat Quinn: No Speed Increase on Illinois I.....
        * Sheriff secures endorsements from 29 Lake Count.....
        * Oil industry donating to Rauner's campaign..
        * Workplace Protections Expanded for Job Applican.....


        * Injunction granted ending retiree premium hike
        * Chicago commander accused of threatening suspect
        * Governor hopefuls rip each other on hiring, taxes
        * US judge tosses Koschman suit against Chicago
        * BP explosion causes sulfur dioxide release
        * Chicago schools getting $10M for Safe Passage
        * Illinois women charged with cooking meth in church
        * Suburban Chicago teacher charged with child porn
        * I-55 crash trucker charged with reckless homicide
        * U of I plans to boost cell reception at stadium

        * Court rules state retirees can stop paying health insurance premiums
        * Governor hopefuls rip each other on hiring, taxes
        * Fracking industry officials donating to Rauner
        * IDNR set to release fracking rules Friday
        * DNR: $1 hunting, fishing licenses for Illinois seniors not ready
        * Renovation of Illinois Supreme Court building completed
        * Vallas: Rauner income tax rollback would cost schools $4 billion
        * Rauner: Department of Agriculture 'full of cronyism'
        * Durbin, Oberweis disagree over debate schedule
        * Concealed carry data botched by error

        * Chicago schools getting $10 million for Safe Passage
        * Why fracking industry officials are donating to Rauner
        * Would you Yo for a free smartwatch? Moto will give you a shot today
        * Here's what's drawing Baxter to Boston
        * Chase bank hacked, FBI investigating data theft


        * Lewis’ first donor: head of agency that gives grants to CPS teachers
        * Garage owner gives alibi to man accused of killing cop
        * Despite progress, math gender gap remains
        * 2 more charged in Operation Crew Cut racketeering case
        * Judge rips defendants but dismisses 'cover-up' suit in Koschman case 
        * EDITORIAL: Jury still out on justice
        * Feds: Teacher allegedly coaxed teen into taking pornographic pictures
        * Vallas: ‘Devastating’ cuts to Chicago schools await under Rauner
        * JRW players celebrate with family at pizza party: ‘I’m feeling good — just happy’
        * When common sense and gun rights collide


        * Ex-Big Brothers volunteer seeks to overturn sex abuse conviction
        * Judge upholds whistleblower verdict against Chicago State University
        * Mechanic denies lying to Chicago police out of fear of gang retaliation
        * Quinn, Rauner trade barbs on IDOT, taxes
        * January trial likely for man accused in Naperville bar murder
        * Tollway lowers cost of I-Pass transponders for those opening new accounts
        * 14-year-old girl assaulted on South Side
        * Big Hurt takes swing at restaurant business in Berwyn
        * Southwest Side man charged with making false bomb threat
        * Verdict expected Friday in Joliet slayings trial


        * Pregnant Workers To Be Protected Under New Law
        * Rep. Poe To Undergo Stem Cell Transplant
        * Updates From The Prairie Capital Convention Center
        * Springfield Performs Classic ‘Mikado’ – Is It Racist?
        * Springfield Performs ‘The Mikado’ – Is It Racist?
        * Term Limits: The Walking, Talking Dead Constitutional Amendment
        * Two neighbors, one big financial gap
        * Two neighboring states, one big financial gap
        * Listen to State Week - August 22, 2014
        * Illinois Schools In Pension Limbo


        * Court rules state retirees can stop paying health insurance premiums
        * Governor hopefuls rip each other on hiring, taxes
        * Fracking industry officials donating to Rauner
        * IDNR set to release fracking rules Friday
        * DNR: $1 hunting, fishing licenses for Illinois seniors not ready
        * Our Opinion: Let the healing begin in Kincaid
        * Eugene Robinson: When mistakes become deadly
        * George Will: Navy with a mission in mind
        * Mark Mix: It’s Labor Day, not Union Day
        * Keith Kelleher: Was Harris v. Quinn a nail in the coffin or a shot in the arm?


        * Godfrey Park water park closed for repairs
        * Pumped for Preps Season
        * At a glance: How metro-east residents voted in national races
        * Auditions for RLC production of 'Hunchback' set for Tuesday
        * Preseason Top 10: St. Joseph-Ogden at No. 1
        * No. 1 is ... St. Joseph-Ogden
        * SportsTalk 8-28-14
        * Governor hopefuls rip each other on hiring, taxes
        * Edwardsville woman accused of stealing from charity
        * East Alton man faces child porn charges


        * UN: Ebola cases could eventually reach 20,000
        * Hanover Park man pleads guilty to battery
        * Tickets on sale for Capitol Steps
        * Tripping seniors on purpose to stop future falls
        * Temptations Review coming to Genesee

        * Roskam, Kirk speak to local business owner...
        * Roskam Talks Taxes - Alton Daily News
        * Nadler introduces resolution condemning an...
        * Roskam gives business leaders vision for f...
        * Nadler, Roskam Introduce Bipartisan Resolu...
        * Rep. Nadler, Roskam Introduce Resolution C...
        * Rep. Roskam In Letter to Kerry: Stop Runni...
        * Roskam talks tax reform, health care, immi...
        * Roskam hires wounded veteran in West Chica...
        * Inactive Congress Discussed - Alton Daily ...

        * Does Chicago Have The Best Pizza In The Co......
        * Does Chicago Have The Best Pizza In The Co......
        * Great America to celebrate 40th birthday i......
        * Great America to celebrate 40th birthday i......
        * Great America to celebrate 40th birthday i......

        * Kirk on Syria: ‘Two wars are enough’...

        * Police shooting protest 1
        * Tom Tresser, Co-Founder Of The CivicLab, At TIF Town Hall Meeting
        * Study: Businesses In Low-Income, Majority Minority Areas Struggle To Access Credit
        * Loan denied stamp
        * Southwest Side Chicagoans Question TIF Use In 23rd Ward
        * Southwest Side Chicagoans Question TIF Use In 23rd Ward (UPDATED)
        * Wisconsin Dems Launched Investigation of Conservatives
        * Allen West in town to raise funds for GOP 8th CD candidate Larry Kaifesh
        * Police shooting protest 2
        * Chicago-Area Activists, Families Call On Holder To Investigate Shootings By Local Police


        * Rauner Rolls Out Students for Rauner Coalition
        * Quinnocchio Alert: Pat Quinn Still Hasn’t Cleaned Up IDOT
        * FACT CHECK: Pat Quinn’s New False TV Ad
        * ICYMI: The shaky mantle of ‘reformer’
        * Governor Quinn Announces $10 Million Investment in CPS Safe Passage Program - Funding Will Expand Innovative Program to Help Ensure Safe Passage to Chicago Public Schools that Serve More Than 65,000 Students




            Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller