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.


* Petulance all around
* 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

          
        * The Week in iPhone Cases: Multi-functional and elegant designs for everyone
        * Become a taekwondo master in Taekwondo Game for Android
        * You Should Play: Micromon is the best Pokémon knock-off on the App Store
        * Send last-minute holiday photo cards right from your iPhone or iPad
        * Apple's 10 biggest hits, misses, and head-scratchers of 2014
        * Lumia 930 Captures the Icy Underworld
        * Hyundai hands car dash to Android, Apple for device-based interface

        * Cadillac is Going To Give the Rearview Mirror a Major Upgrade
        * Dog Gets New Leash On Life Thanks to 3D Printed Legs
        * Stockflare Simplifies Stock Market Data to Make Investing Easier
        * Get These Men’s Electric Shavers without Spending a Fortune
        * Study: More teens are fleeing from Facebook
        * How NASA launched its web infrastructure into the cloud
        * This Tool Picks the Right Size and Viewing Distance for Your TV

        * Terrerobytes: Future of Cuban baseball complicated on both sides
        * White Sox sign George Kottaras to a minor league deal
        * Kottaras to join White Sox with Minor League deal
        * Loss of Draft picks viewed as good trade for White Sox
        * Windy City revival: Cubs, White Sox revamped for '15
        * ZiPS projections underscore White Sox's riskiest bets
        * AL Central looking like one powerhouse division

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


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

        Archives
        December 2014
        November 2014
        October 2014
        September 2014
        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 wants special election in 2016 on Topinka.....
        * Quinn wants 2016 special election for comptroller..
        * Quinn Sets Special Session..
        * Quinn calls legislature back to Springfield to .....
        * Quinn To Call Special Session..


        * Report analyzes Nov. 4 election in Cook County
        * Chicago man charged in downtown bank robbery
        * China pledges to speed entry of US pharmaceuticals
        * Report: Illinois fails to monitor runaway kids
        * Gov. Quinn calls session for comptroller election
        * Chickenpox forces southern Illinois prison lockdown
        * Instructor at Illinois school for visually impaired arrested
        * Chicago announces plans to build 88-story skyscraper
        * GOP says Rauner should appoint next comptroller
        * Quincy mother gets 2 years for unlawful restraint

        * Quinn calls legislature back to Springfield to approve special election to replace Topinka
        * Audit: DCFS loses track of runaways
        * Audit: Illinois fails to monitor runaway kids
        * Chicago couple convicted of stealing state grants
        * Topinka remembered as tough, honest leader at memorial service
        * Illinois employers reminded of income-tax rollback
        * Memorial service for Topinka begins in suburban Chicago
        * Police use vacant Jacksonville site to train for worst-case scenarios
        * State-grant fraud case in hands of federal jury
        * Gov.-elect Rauner says some agency directors may stay

        * Great moments in Chicago architecture 2014
        * Restaurant menus shed some weight
        * McDonald's to sponsor 2015 SXSW festival
        * Chicago tourism arm opens fourth bureau in China
        * Dow soars more than 400 points


        * Obama guidance, press schedule, Dec. 19, 2014. Press conference
        * A whole lot of nothing from the City Council
        * Dozens gather at Logan Square eatery for ‘Serial’ podcast finale
        * Sony’s choice on ‘The Interview’ is one lost battle in a long war
        * Playing for dollars, smiles at O’Hare
        * Rewriting the Sony cyberattack script
        * Sony’s choice on ‘The Interview’ is one lost battle in a long war
        * Emanuel denies Willie Wilson petition challenge is racist ploy
        * Ex-FBI agent’s book tells mob tales in ‘A Gun in My Gucci'
        * Off Message: The Year in Review


        * Scene of the crime: Sister watches over slain brother in the dying light
        * Child with fever admitted to Chicago hospital to check for Ebola
        * Chicago restaurants that repeatedly failed health inspections in 2014
        * Broadway bike lane among 'Top 10' in the country
        * 5 people hurt in separate shootings
        * Metra train fatally hits pedestrian in Oak Forest
        * Chicago man shot to death in Montgomery
        * Santa helps Catholic school complete fundraising mission
        * Rahm Emanuel defends record on ethics in first term
        * Second bottlenose dolphin born at Brookfield Zoo


        * Parties' Power Grabs In Battle For Comptroller; Quinn Calls Legislators Into Special Session
        * Let's Talk Kids - "Your Phone-a-Friend List"
        * Vatican signals new tone on US nuns
        * StoryCorps: Bilingual pre-school teacher describes the state of education in Chicago
        * Chicago mayor's commission unveils plan for a safer Chicago
        * US announces protections for transgender workers
        * Cook County to join cameras-in-court program
        * IIAA Teaches Life Skills Through Sports
        * Illinois Republican: Cuba Agreement "Good First Step"
        * Unions sue to stop Chicago pension overhaul


        * E.J. Dionne: Chuck Schumer: Take two
        * Esther Cepeda: The rainbow that isn’t
        * Raoul, Righter, Nekritz, Sandack: Clarifying privacy, eavesdropping bill
        * Quote of the day: Friday, Dec. 19, 2014
        * Quinn calls legislature back to Springfield to approve special election to replace Topinka
        * Audit: DCFS loses track of runaways
        * Audit: Illinois fails to monitor runaway kids
        * Bernard Schoenburg: Schmidt considers challenging Sgro for park board president
        * Brian Sauder: Faithful decisions for the holidays
        * Eugene Robinson: The price of being hacked


        * Football pick em bowl game edition
        * Residents still are not sold on solar array
        * Home Sweet Home recycling bins a success
        * Firefighters battle blaze at abandoned Washington Park school
        * Caseyville police search for missing teen
        * Off the beat: Dog accidentally shoots owner
        * Senator selection needs to be open
        * Religion calendar, Dec. 19, 2014
        * Calendar complicates trustees' first 2015 meeting
        * This day in history: Dec. 19, 2014


        * Boy sends $1 allowance to help save UAB football
        * Fenninger fastest in women's downhill training
        * Sepp Blatter says FIFA will not reopen the vote for the 2018 and 2022 World Cups
        * AP Little All-America Team, List
        * AP FCS All-America Team, List

        * Schock touts ABLE Act to help parents, chi...
        * Schock Discusses New Able Act - WICS-TV
        * Those with disabilities can better plan fo...
        * Caterpillar, farm group welcome Cuba polic...
        * US Representative hosting conferences to d...
        * New Philadelphia site now closer to Nation...
        * Mr. President, sign the Water for the Worl...
        * Congressman Schock on 2015 Spending Bill -...
        * Schock says bill will fund billions in upg...
        * Schock visits Peoria Lock and Dam - Pekin ...

        * Durbin backs federal budget despite 'odiou......
        * Durbin on Cuba Relations...

        * GOP senator wants 'The Interview' shown at......

        * SportsMondayTuesday: Fire Away
        * The Picture Of Women's Health
        * The [Monday] Papers
        * Beachwood Photo Booth: Mailbox Message
        * The Beachwood Radio Hour #35: Don't Feed The Comptrollers!
        * Obama Issues 12 Pardons. That's Still Far Fewer Than Predecessors
        * The Beachwood Radio Sports Hour #29: Bears Remorse
        * The College Football Report Bowl Preview Pt. 1: Cheap Trick, Gold Toes And Loaded Potatoes
        * City Clerk Debuts Online Residential Permit Parking Map
        * Expert Writing Service for Students’ Deductive Writing


        * Governor Quinn Calls Legislative Special Session - Governor Urges Legislature to Set Up 2016 Special Election for Comptroller
        * Governor Quinn Announces Illinois’ Unemployment Rate Hits New Low - Illinois’ Economic Comeback Continues; Unemployment Rate Falls to Lowest Level in More than Six Years
        * Illinois Ranks #1 in Volunteer Rate Among the Country’s 8 Largest States - 2.57 Million Illinoisans Give $7.2 Billion in Service
        * Law Enforcement, IDOT Make Final Push to Save Lives in 2014, Roadside Safety Checks Planned Over Holidays - New Episode of “The Driving Dead” Premieres Friday as Holiday Travelers are Reminded to Drive Sober and Buckle Up
        * Department of Insurance Announces Two Convictions Resulting from its Workers’ Compensation Fraud Investigations - Former Crystal Lake Police Officer and Former Business Owner Convicted




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