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Eugene Jones nominated as CHA acting leader

Chicago officials have nominated the former CEO of the Toronto Community Housing Corporation as the acting leader of the Chicago Housing Authority. Mayor Rahm Emanuel announced the nomination of Eugene Jones last week. He’ll replace Michael Merchant who leaving the post for other opportunities. Chicago officials praised Jones’ experience working for housing authorities in several major cities including Detroit, San ...

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PROPERTY SCAM: Red Alert!

In property scam, the fraudster claims ownership of a property and after one or more transactions and negotiations, they abscond with the money; hence, leaving the victim completely broken depending on the amount of money involved – which is usually a lot. One of the banes of this type of scam is the length of time it takes to discover ...

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Canada housing starts rise in May

Canada’s largest real estate firm

Canada housing looks good as the data released by the Canada Mortgage and Housing Corporation (CMHC) on Monday showed seasonally adjusted annual rates (SAAR) of housing starts rose 201,705 units in May, up from 183,329 units in April.   The trend measure of housing starts in Canada was 181,231 units in May compared to 179,524 in April. The trend is ...

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Western New York: State awards $3M nonprofits for housing projects

NYC property market

Half a dozen nonprofit groups in Western New York will receive $3 million in state funding to help create more low- and moderate-income housing units. The funds are part of an $11 million allocation announced this week by Gov. Andrew Cuomo through 61 awards to enable nonprofits and municipalities to create more than 1,000 new units of housing. Awards came ...

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Ruler of Dubai approves $900 million of housing schemes

Housing projects worth $900 million (AED3.6 billion) have been approved by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Sheikh Mohammed approved the construction of new homes for around 400 citizens at a committee meeting at the Mohammed bin Rashid Housing Establishment on Sunday, state news agency WAM reported. The committee also approved the construction of new roads ...

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Ali Modu says he has no case to answer, citing Real estate accomplishments

Former Borno state governor, Senator Ali Modu Sheriff has denied reports that he was arrested by the Economic and Financial Crimes Commission, EFCC, saying that anybody with the proof should come forward. While a recent media reports say he was arrested over the mismanagement of N300 billion received by his administration in 8 years, particularly between 2003 and 2011. Sheriff, ...

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‘Poor infrastructural mechanism is a major challenge in low cost housing’

The Vice President and Chairman REDAN south west, CEO Cross and Churchill Estates Limited, Mr. Taiwo Ogunbodede, in a chat with Nigeria real Estate hub correspondent, Elsie Godwin, pointed out the country’s poor infrastructural mechanism as one of the Major challenges facing low cost housing in Nigeria. He also reiterated that the number of housing units being built yearly in the country ...

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England heading for a shortfall of 1m homes over the next decade

Bengaluru

Property experts call for the release of land to deliver enough homes and address house price boom and bust Property experts have warned that England is heading for a shortfall of 1m homes over the next decade as the housing supply crisis intensifies. According to a report from the agent Savills, after 30 years of insufficient levels of construction across ...

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CHICAGO: Banks give $200 million for low-income housing loans

Nonprofit lender Community Investment Corp. has raised $200 million from three dozen banks to finance the acquisition and rehabilitation of apartments in low- to moderate-income areas in Chicago. CIC plans to use the money to fill a hole in lending created during the housing crisis that has been slower to close in some neighborhoods than others. Lenders that pulled out ...

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