PD&R Edge Elist 05/21/2013

New on The Edge

Message from PD&R Senior Leadership:
Hurricane Sandy Recovery
In the aftermath of Hurricane Sandy, PD&R leadership toured hard-hit communities in Ocean County, New Jersey. Todd Richardson, Associate Deputy Assistant Secretary, discusses the importance of strong local leadership and effective communication and coordination across all levels of government in achieving a speedy recovery.

In Practice:
Affordable Housing Renovation Contributes to Pine Hills’ Transformation
The recently opened Emerald Villas in Pine Hills, Florida is helping to lead a neighborhood transformation. The 264 apartments include energy efficiency improvements and are centrally located in close proximity to schools and future neighborhood improvements.

Statistical Reports:
Housing Scorecard April 2013
The April 2013 scorecard shows continued progress for the housing market in many key indicators. The annual increase in home prices is the highest in nearly seven years and sales of existing and new homes are both up over 10 percent from one year ago. The Administration's foreclosure prevention programs are providing relief for millions of homeowners as we continue to recover from an unprecedented housing crisis. Nearly 1.6 million homeowner assistance actions have taken place through the Making Home Affordable Program, including more than 1.1 million permanent modifications through the Home Affordable Modification Program (HAMP), while the Federal Housing Administration (FHA) has offered more than 1.7 million loss mitigation and early delinquency interventions.

Policy Update:
Individual Development Accounts: A Vehicle for Low-Income Asset Building and Homeownership
The ability to build wealth remains a challenge for many low-income families. However, the emergence of individual development accounts presents a promising tool for asset building and social mobility.