Category: home prices

Time to End the Iowa Finance Authority

In 1975, Iowa’s elected so-and-so’s felt inclined to establish the Iowa Finance Authority, giving it the mission of assisting the people of Iowa in acquiring affordable housing.  I guess Iowans tended to live in mud shacks prior to 1975, but no matter, the government is here to help.

Except, it doesn’t help. The Iowa Finance Authority’s own website (http://www.iowafinanceauthority.gov/) tells the tale, and affordability is not the goal of our state-level state corporatists. According to the talking points, IFA helps low-income Iowans, the disabled, and the otherwise strained in the task of obtaining affordable housing, which is simply not true. Nothing the IFA does is aimed at helping citizens afford anything, all they do is encourage easy credit.

Getting easy credit is not …


Politicians, Bailouts and Bank-Owned Houses

Around the corner from my former apartment in Newton was a house that was taken in foreclosure. The “For Sale” sign had been there for a very long time, the lawn wasn’t mowed regularly and the shrubs had died in the winter but hadn’t been removed.

Walk around your own neighborhood and see how many houses are for sale. Sometimes the sign openly states that it is bank-owned, other times you might have to search on the county assessors website. There are plenty of bank-owned houses in Iowa; there are many, many more in California, Nevada, Michigan and Illinois.

The point is this: With such a large supply of bank-owned houses, of course houses will continue to fall in price. When a store has excess …


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