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.


* Rauner wouldn't move police and fire to 401(k)
* Question of the Day
* Keep calm, and Scribble on
* Quinn raises what Rauner contributes
* Assume everyone is wearing a wire, and stick with your friends
* 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

          
        * Google Camera app arrives in the Play Store
        * Samsung bringing Tizen phones, Android Wear smartwatch in 2014
        * Google I/O To Elevate Focus On Design
        * OnePlus confirms launch territories, pricing for the One
        * Is This Amazon's 3D Smartphone?
        * Burger King “Whopper Wi-Fi” now being served by AT&T
        * HTC One (M8) Dual Lens SDK released for developers

        * Google’s Project Ara still has a long way to go before modular smartphones become a thing
        * Microsoft’s New All-In-One Media Keyboard Destined For Your Living Room
        * The Key to Lasting Behavioral Change: Think Goal, Not Tactic
        * OnePlus One Will Be Available In 16 Markets At Launch
        * Is Facebook considering a PayPal-like service?
        * Google Patents Camera System for Contact Lenses
        * Chrome Remote Desktop Hits Mobile Devices

        * Following up: Avisail Garcia waits for spring training
        * Robin Ventura vents about replay system after unsuccessful challenge
        * Big chill: Alexei motors home on walk-off error
        * Unlike previous seasons, Alexei catching fire
        * Ventura not pleased call at first base stands
        * White Sox 2, Red Sox 1: A win for the pitchers
        * Big chill: Alexei motors home on walk-off error


        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


        * Addiction experts: Cuts could hurt drug treatment..
        * Quinn Leads Rauner in Campaign Cash..
        * Metra files reveal years of political patronage..
        * Quinn with nearly $9 million as Rauner reloads..
        * Governor Quinn Releases First-Ever Illinois Bik.....
        * Latest casino expansion proposal aims for Quinn.....
        * Addiction experts: Illinois budget cuts could h.....
        * Biker's Paradise: Illinois Unveils Transportati.....
        * Quinn, Rauner File Campaign Reports..


        * Inmate charged in Rockford lawyer's 2008 death
        * Dress codes: Where should schools set limits?
        * 4th Mexican cartel associate charged in Chicago
        * Addiction experts: Cuts could hurt drug treatment
        * Illinois strip club tax brings in less revenue
        * House fire kills man, infant son in Quincy
        * Kirk will campaign for Oberweis in Senate race
        * Legislative hearing on Chicago casino underway
        * Metra files reveal years of political patronage
        * Illinois trooper charged for roadside strip search

        * Lawmakers vote down 'conversion therapy' ban
        * Addiction experts: Illinois budget cuts could hurt drug treatment
        * In new ad, Rauner's wife says no 'social agenda'
        * Legislative hearing on Chicago casino begins
        * Voter rights, crime victim rights amendments set for fall ballot so far
        * 2015 tax rates still far from settled
        * Illinois House Speaker Madigan cleared in transit probe
        * House bill urges schools to make digital emergency plans
        * House panel plans gambling expansion hearing in Chicago
        * Chicago-only casino option to face opposition

        * Photos: Toyota Camry gets a top-to-bottom makeover
        * U.S. Sen. Kirk will campaign for Jim Oberweis in Senate race
        * Metra files reveal years of political patronage
        * Cosi leaving Chicago area for Boston
        * Are leggings acceptable at school?


        * D'Amico leaves one public job — and heads into another
        * Feds: Rep. Derrick Smith admits to FBI he screwed up over bribe
        * Metra clout cards include who’s who of pols as job references
        * CTA narrows possible routes for proposed CTA Red Line expansion
        * CTA narrows possible routes for proposed Red Line expansion
        * Aldermen searching everywhere for alternatives to property tax hike
        * Judge Harris spends $1M for appeals court bid — 5 times the salary
        * Convicted ex-cop Mandell to judge: I ‘never ever bothered anyone’
        * Man who molested, photographed 11 kids gets 50 years in prison
        * Priest reinstated after inquiry finds abuse claim unfounded


        * Cops: Suspicious package spurs closure of portion of Northbound LSD
        * Sandburg HS put on lockdown during police search
        * Latest casino expansion proposal aims for Quinn backing
        * Latest casino expansion proposal aims for Quinn backing
        * Sinaloa cartel associate brought to Chicago to face charges
        * Quinn with nearly $9 million as Rauner reloads
        * Quinn with nearly $9 million as Rauner reloads
        * Judge backs jailing of Amber Creek suspect
        * Chicago TV anchor appears on 'Person of Interest'
        * Cops: Cameras help track down suspect in Lakeview sexual assault


        * The Vanishing Millionaire Tax
        * City Approves More Video Gaming Despite Upcoming Ordinance
        * Rutherford: Dismiss Sexual Harassment Lawsuit
        * Durbin Calls For A Return of 'Earmarks'
        * Quinn, Rauner At IEA Conference - Full Audio
        * FBI agents say indicted state rep took them to get bribe cash
        * McCarthy dismissive of crime research
        * Gas Station Owners Warn Against Fuel Tax Increase
        * Raising Gax Tax "Unwise," Says Quinn, But Offers No Other Ideas
        * Woman alleges housing voucher discrimination in pricey Chicago buildings


        * Addiction experts: Illinois budget cuts could hurt drug treatment
        * Legislative hearing on Chicago casino begins
        * Their view: Remembrance in the cruelest month
        * 2015 tax rates still far from settled
        * House bill urges schools to make digital emergency plans
        * Chicago-only casino option to face opposition
        * Rutherford's lawyers ask judge to dismiss sexual-harassment lawsuit
        * GOP's Rauner raised $9M in first quarter of 2014
        * Illinois House orders audit of anti-violence funds
        * Poll: Illinois residents least trusting of state government


        * Illinois trooper charged for roadside strip search
        * BND wants to talk college safety with students, parents
        * ISP director: Agency concerned by arrest of trooper for strip search
        * Shopping Spree!
        * Survey says: Local economy looking up
        * Kansas State rewards Weber
        * BND wants to talk to college students, parents of students
        * Watch out for the wind this afternoon
        * Street closures listing
        * Dress codes: Where should schools set limits?


        * 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

        * The Affordable Care Act's Successful First...
        * Rep. Jan Schakowsky: The Affordable Care A...
        * Rep. Jan Schakowsky: The Republican Ryan B...
        * "Is The New GM Responsible?": Barra Fields...
        * Schakowsky in Tokyo for Aspen Institute co...
        * Rep. Jan Schakowsky Statement on Shootings...
        * Schakowsky on pre-Passover Kansas Jewish C...
        * On Equal Pay Day, Rep. Schakowsky Calls fo...
        * Statement by Rep. Jan Schakowsky on Suprem...
        * Northwestern unionization leaders turn eff...

        * 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......

        * Budget cuts
        * Obama To Announce $600 Million U.S. Job-Training Initiative
        * Sheila Simon and husband report $208,000 in income, net worth of $675,000
        * Aurora Planned Parenthood Draws Good Friday 'Way of the Cross' Observance
        * Illinois Social Service Providers Brace For A 'Tough' Budgetary Year
        * Analysis: 64,000 Illinoisans Still Without Work
        * Chicago Teachers Union: Improving failed schools full of black kids is RACIST
        * The Illinois roots of the socialist May Day celebration
        * 86M full-time, private-sector workers now sustaining 108M benefit takers
        * Morning Minute: Getting Boomerang buyers back in homes of their own again


        * Governor Quinn Releases First-Ever Illinois Bike Transportation Plan - Plan Formally Makes Bicycles Part of Illinois’ Long-Range Transportation Vision
        * Governor Quinn Honors Jackie Robinson - Barrier-Breaking Baseball Player Was American Icon
        * Governor Quinn Urges Homebuyers to Act Fast and Take Advantage of Welcome Home Illinois Program - Program Offers First-Time Homebuyers Down-Payment Assistance and a 3.75 Percent Interest Rate on a 30-Year Fixed Mortgage
        * Extending Federal Unemployment Would Help 64,000 Illinois Workers - 86 Percent Still Without Work One Month Later; Veterans and Older Workers Hardest Hit
        * Governor Quinn Statement on Passover




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