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.


* Afternoon updates
* Hospitals back removal of income tax sunsets
* The other strategy
* *** UPDATED 1x *** Quinn onboard; Rauner latches onto term limits proposal
* Because Illinois is a real battleground state
* Quinn dodges Rahm question on "Morning Joe"
* Morning Shorts
* 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

          
        * iPhone 6 curved design, Swarovski Galaxy S5, Android dialer & more – Pocketnow Daily
        * Sharp AQUOS 304SH boasts slim bezels on 5.2-inch display
        * Pinterest Adds Smarter Search Tool
        * Samsung Galaxy Note 10.1 2014 Android 4.4.2 changes get detailed
        * Viber transmits and stores images and videos insecurely
        * NETGEAR STS7000 is a tablet geared for home security
        * Hulu Plus app now casts to PS3, PS4, Xbox One

        * Want This: Star Wars Millennium Falcon Windshield Sun Shade
        * DryFlush Saves Water, Will It Save The Planet?
        * ASUS C200 Chromebook Available For Pre-Order From Select Stores
        * Minecraft Xbox One Will Enjoy Saved Files From Xbox 360
        * Jumpr Juices Your Phone, Jumpstarts Your Car
        * Fan Remakes Resident Evil 2 With Unreal Engine As Proof Of Concept
        * Mark Zuckerberg Tried Out Sony’s Project Morpheus Before Acquiring Oculus VR

        * Detroit Tigers 7, Chicago White Sox 4: Scherzer Stops Sox
        * Quintana solid, but drops finale in Detroit
        * Johnson starts homestand opener vs. Rays
        * Quintana solid, but drops finale in Detroit
        * Walks working against the White Sox' plans for the bullpen
        * Viciedo maturing at the plate
        * Beckham returns, thrust into starting lineup


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

        Archives
        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


        * Sosnowski, other state leaders respond to Gov. .....
        * Minimum- and low-wage workers react to Gov. Pat.....
        * Dem Governor of Illinois Condones Comparison Be.....


        * Man pleading guilty in drugs for bitcoins scheme
        * Man charged with giving girlfriend HIV
        * Man charged with giving girlfriend HIV
        * Ill. jobs screened for political ties after hiring
        * Ex-Marine sentenced to die in sailor's slaying
        * Quinn: Obama library should get private funds too
        * Twice-fired police chief charged with battery
        * Illinois governor praises work of slain doctor
        * Illinois researchers to study Washington mudslide
        * Severe storms loom across central US this weekend

        * State jobs screened for political rules after hires
        * Bankruptcy court trial sought over $3.8 million paid to Parsons
        * Amazon takes hit in states with online tax, study says
        * State audit: Police training money misspent
        * Audit: Treasurer's office has 30 guns not given to police
        * Madigan: 'Misunderstanding' on Obama library vote
        * Madigan re-elected to lead state Democratic party
        * Hastert, other state Republicans supporting immigration reform
        * Lawsuit seeks investigation of hiring under Quinn
        * Patronage allegations give Rauner fodder in race against Quinn

        * Chicago City Council committee OKs plastic bag ban
        * Feds to review Northwestern bid to unionize
        * United stock takes biggest tumble since October 2011
        * Next up for CPS: Barack Obama College Prep
        * Left set to play Kochs' game: Liberal elite meet here Sunday


        * CPS puts $100 million price tag on mayor's A/C-in-schools edict
        * Man fatally shot Thursday night in Auburn Gresham neighborhood
        * Woman sexually assaulted near Matteson Metra station
        * Priest in 2nd child abuse investigation won’t be alone with kids: archdiocese
        * Reject firefighter staffing bill
        * Chicago man charged with giving girlfriend HIV; wife died of AIDS
        * Trio charged with robbing stores, gas stations in city, suburbs
        * His wife died of AIDS, now Chicago man is charged with giving girlfriend HIV
        * Pedicab operators say a crackdown could put them out of business
        * Robo-calls on pension reform bill raise Rauner-Rahm rift


        * 1 dead, 7 injured in shootings
        * Woman sexually assaulted in Matteson
        * Illinois graduated income tax vote next week
        * Dutch man charged in Chicago with selling drugs for bitcoins
        * Ravinia sales brisk, but wait long, as ticket-buying opens
        * New Chicago high school to be named for Obama
        * Lawyers for men charged in NIU hazing death challenge law
        * Coach fired in Maine West hazing scandal fails to win back job
        * Illinoisans have lowest home-state opinions in the U.S., poll says
        * Mom on death penalty for Torrez: ""I only wish I could do it myself"


        * Secret recording shows Uber's efforts to poach Chicago cabbies
        * Springfield Ordinances for Lincoln's Funeral Unearthed
        * Illinois Finally Gets 'No Child Left Behind' Waiver
        * Chicago aldermen pass plastic bag ban
        * City Council panel passes plastic bag ban
        * Marian Anderson Tribute - 'The Concert That Shook The Establishment'
        * Organic foods sold by Walmart create fear among some organic farmers and farm advocates
        * Senator Kirk joins Revolution in backing Small BREW Act
        * Listen To State Week - April 18, 2014
        * Earth Friendly Event In Springfield This Weekend


        * State jobs screened for political rules after hires
        * Quinn: Obama library should get private funds too
        * Rauner skips GOP event over pastor's comments
        * Quinn backs term limits for constitutional officers
        * Rauner wants Quinn to release hiring documents
        * Bernard Schoenburg: Barr borrowed late in sheriff campaign to keep ads flowing
        * Cristal Thomas: Protecting Illinois’ pregnant workers shouldn’t be a heavy lift
        * Remap group says it is not political
        * Quinn clout hiring faces scrutiny
        * Judge OKs use of lawmaker's post-arrest statement


        * Deadline approaches for memorial bricks
        * Jacksonville man receives French Legion of Honour
        * Major gets first-hand look at volunteer spirit
        * State legislature to consider term limits
        * Police Beat
        * Our view: Patronage
        * Taxpayers don’t need this monumental bill
        * Upcoming Services (April 25, 2014)
        * Open Line
        * Bullying Awareness at RCC


        * The 10th District money race
        * Aurora Democrat calls out IHSA
        * Lawyers: Ill. hazing law vague, unconstitutional
        * Ill. House OKs lower-cost hunting bill for seniors
        * Quinn’s running mate takes new consulting job

        * Rep. Jan Schakowsky: The Affordable Care A...
        * Aaron Schock's fabulously exciting Instagr...
        * Chuck Sweeny: Adam Kinzinger, Aaron Schock...
        * In immigration news: Republicans for refor...
        * Illinois Republicans warm to legal status ...
        * GOP 'Congressman with Abs' Aaron Schock Ha...
        * Illinois Republicans Call for Immigration ...
        * Rep. Aaron Schock in Japan, China, South K...
        * Lewis lauds Dirksen's role in civil rights...
        * Civil rights icon John Lewis says next gen...

        * Loading Koch Industries Website Too Many T......
        * Maryland and DC among worst for food aller......
        * Cleveland State University to reestablish ......
        * Convicted political boss Al Sanchez runnin......
        * Candidates make last filings for local, st......

        * Illinois Lt. Gov. Simon opposes pension le......
        * Dillard Odd Man Out on Pension Deal Reaction...
        * Sen. Mark Kirk sides with Rauner on pensio......
        * Governor's race infighting threatens pensi......
        * SCHOONERS - Home of Everyone's Favorite Be......

        * The Tea Party Genome
        * Chicago Reader: It's getting harder to snicker at Obamacare
        * Heartbreak Hotel
        * Major Oil & Gas Firm To List Drilling Chemicals
        * Durbin Says FDA E-Cigarette Regulations Don't Go Far Enough
        * Herbalife Punished 600 Distributors For Medical Claims: ABC News
        * Harmon To Push For Graduated Tax Vote Next Week
        * Madigan blames Tea Party for $100M Obama Library re-vote
        * Oberweis remains committed to border security, immigration law enforcement
        * One In Ten U.S. Bridges In Urgent Need Of Repair: Report


        * Cases of Chlamydia, Gonorrhea and HIV on the Rise Nationally - Residents Are Encouraged to Get Tested for STDs
        * State Insurance Regulators Urge Property Owners to Review/Add Coverage to Protect from Floods & Water Damage - Most homeowners’ policies do not cover flood damage
        * Governor Quinn Statement on New Proposal to Enact Term Limits for Constitutional Officers
        * Statement from Governor Quinn on the Passing of Dr. Jerry Umanos
        * Governor Quinn Proclaims “Wrigley Field Day” - Home of the Chicago Cubs Turns 100 Years Old Today




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