Seniors' Housing E-Review 12/15/00  Volume 01 - 12/15/2000 - Real Estate Home House Condo

In This Issue...

• Housing Bill Headed to the White House
• Washington D.C Cracks Down on 'Predatory' Loans
• Briefing on Aging in Place: A Residential Design Competition for Students
• Briefing on the Upcoming Seniors' Housing Symposium in Phoenix, Arizona

Housing Bill Headed to the White House:

Newly created housing legislation allowing for the poor, disabled and elderly to purchase a home was passed by the Senate and sent to President Clinton with a high probability that the bill will be signed into law. Provisions of this bill provide more housing potential for the elderly and disabled through specific language designed to promote construction and accessibility in financing.

In addition, a provision of this bill will allow for disabled recipients currently receiving housing assistance under the federal program known as "Section 8" to channel that into assistance in purchasing a new home. This wide-ranging bill also encompasses the recently modernized regulations governing both manufactured housing and mobile homes.

For more information and a summary of the legislation, visit http://www.nytimes.com/

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Washington D.C Cracks Down on ‘Predatory’ Loans:

The Washington D.C council unanimously passed a bill that includes several measures attempting to curb predatory loan practices against the elderly and disabled. These particular measures, among the toughest in the nation, are designed to give consumers new legal remedies to deal with this problem. One specific provision of this bill allows for the borrower, after foreclosure proceedings begin, to request a judicial review if they believe faulty lending practices have occurred. If the borrower were correct, the court would have the authority to rewrite the terms of the loan.

In addition, public opinion seems to favor this particular type of housing legislation. More specifically, several local consumer advocacy groups have applauded the legislation because of its extremely strict provisions. However, advocacy groups representing mortgage lenders believe that the definitions of the bill remain somewhat unclear. Moreover, these particular groups also believe that this bill garners an over-regulation of the industry, which will create an environment of uncertainty and cause lenders to become nervous.

For more information regarding 'predatory' loan practices, visit http://www.washingtontimes.com.

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Research Center Hosts Open House for General Public to View Student Aging in Place Entries:

It's a fact that older Americans want to continue living in their own homes as they age. That, coupled with a rapidly growing older population that will exceed 80 million by 2025, translates into a very real and significant demand for innovative methods to accommodate the lifestyles of today's older homeowners. For these reasons, the NAHB Research Center sponsored a student design competition this fall that focused on the housing needs of older Americans.

The design competition, Aging in Place: A Smart-Aging Residential Design Competition for Students attracted more than 100 individuals and teams of students who have registered their intention to participate. Open to students in schools of architecture and building construction, the competition is endorsed by the Association of Collegiate Schools of Architecture and is funded under a cooperative agreement with the Administration on Aging.

A jury of judges will evaluate the entries on January 4 and 5, 2001 at the NAHB Research Center in Upper Marlboro, Maryland. After the judging has concluded, the Research Center will host an open house on January 5 from 2 p.m. until 4 p.m. This will provide an opportunity for the general public, housing industry professionals and aging specialists to view the student submissions and the winning entries, which will be selected based on their ability to meet four primary criteria: creativity, buildability, livability, and affordability. Winners will receive cash awards and will be invited to attend NAHB's International Buliders' Show in Atlanta in early February where they will be formally recognized for their accomplishment. Winners will also be encouraged to attend the 2001 Seniors' Housing Symposium in Phoenix April 26-27, 2001.

The student design competition is one of many activities underway at the National Center for Seniors' Housing Research, housed at the NAHB Research Center. For further information regarding the Seniors Housing Design Competition, visit www.nahbrc.org and click on "Seniors' Research".

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Briefing on the Upcoming Seniors' Housing Symposium in Phoenix, Arizona:

The NAHB Research Center, in conjunction with the Seniors Housing Council of the National Association of Home Builders (NAHB), will hold Building for Boomers and Beyond- A Seniors' Housing Symposium in Phoenix, Arizona April 26 and 27, 2001.

The symposium will bring together builders, land developers, multi-family housing owners and associated professionals interested in serving the growing and diverse needs for those 55 and older. It will features two days of networking, seminars and exhibits to inform industry experts about new and innovative building, design and finance methods for those focusing on independent living and retirement issues.

For more information regarding the seniors' housing symposium, contact Leslie Marks at 202-822-0235 or lmarks@nahb.com.

 

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