Black workers earn considerably less than their white counterparts. In fact, in 2008 black men earned only 71% of what white men earned. The median hourly wage for black male full-time workers was $14.90; for comparable white workers it was $20.84. Of course, a true wage comparison uses multiple factors, from level of education to chosen field of study; however, at the end of the day, it turns out that being black matters. Occupational segregation plays a large role in the wage gap, and severe underrepresentation in the field of “construction, extraction, and maintenance which tends to be low-education-credentialed but which pays wages that are significantly higher than in the service sector. Black men are overrepresented in the lower-paying service sector. Click here to read more.
Congress failed to extend the FHA and GSE mortgage loan limits. As a result, on October 1 those limits will decline in 669 counties in 42 states. The new limits will be equal to 115% of local area median home price, and the high cost cap will fall to $625,500 from $729,750. Want to know about Georgia or Louisiana, call me. 770.981.1999 or 504.365.7325
After unanimously passing through the Senate Banking Committee on Sept. 8, the Flood Insurance Reform Act of 2011 is one step closer to helping the 5.6 million Americans in 21,000 communities who rely on the National Flood Insurance Program (NFIP) to protect their homes from flood damage. But with differences between House and Senate bills to iron out, a short-term extension of the NFIP through Nov. 18 may be needed since the program expires on Sept. 30.
It’s important that Congress get the extra time to hash out those differences, so the policy can be extended for a full 5 years.Any flood insurance lapse would put home owners at risk. There’s no private market flood solution except for homes valued at more than $1 million, according to the General Accountability Office. Most owners in participating communities pay a risk-based premium to insure their properties and to keep taxpayers off the hook. Call your State Representatives today, and let this know how important this is to you.
On November 19th, Protect Louisiana Homes from Transfer Taxes
The Louisiana REALTORS® Association is supporting a constitutional amendment on the November 19th ballot to prohibit any new real estate transfer taxesin the state. A vote FOR Amendment #1 on November 19 will…
- Protect your home from double taxation. Most homeowners in Louisiana already pay property taxes. Transfer taxes are simply another tax on the same piece of property.
- Keep Louisiana free from additional taxes, especially those that unfairly target homeowners and homebuyers.
If approved by Louisiana voters, we believe this will be an extremely positive development for residential and commercial consumers of real estate – and good for the overall real estate market and economy in Louisiana. Monitor this important initiative thoughout the fall at STAYTAXFREE.com. Browse the site for related news, background on the issue, answers to frequently asked questions, and learn how you can get involved.
Congressman James Clybyrn, South Carolina reports a 20% reduction in white wealth, 53% black wealth, and a 66% Hispanic wealth 2004-2009. This is because minority money was tied to housing. The market is changing monthly. How do you safe-guard yourself? Lock onto a good REALTOR who will advise you how to more strategically in this market. Call us today: DOR 504.365.7325, 770.981.1999.
“This is not class warfare, it’s math.” With those seven words, President Obama threw down the political gauntlet. No longer can Republicans continue tax breaks for the richest among us while slashing away at Medicare, Social Security and the middle class in the name of deficit reduction. The Democratic Campaign Committee is trying to collect 50,000 signatures before tonight’s GOP debate. Go to the link to make sure the GOP knows you will fight for a deal that makes the ultra-rich pay their fair share. https://dscc.org/.
FICO scores are now more Important than your cholesterol or ACT scores. If you have at least a 580 go for it! HOPE credit union has a no downpayment program for 1st time buyers.