i went to fha. i noticed today that fsa disproportionately, the way people work borrowing money for houses. they ensure mortgages for around 18%. it looks like you're basically in 2020 and 2021 continued the downward trend toward the lower level up until about 2012. 50 home purchase continues as projected, sellers would be encouraged to conduct business when the cash values are above the asking price. >> thank you so much for that question. sellers could take offers of cash. as real estate practitioners we could educate about the different type of finance. sometimes it is not the right way to go. it is a better way to nine and -- finance. sometimes they think it could close in 7-10 days. a couple weeks later you could've gotten a better. i suggest that real estate agents educate their sellers on why this is important for homeownership. >> what anyone else like to respond? >> fha could be more user-friendly and has been constrained and relies totally on appropriated funds. it has historically been un

as the prices go up, with the fha, through either fha or gse loans that we have, we have more lower equity loans. so, you've got sort of pockets, geographically, throughout the united states that are either more or less constrained than others. and then you basically have got one federal policy that just says, get more loans, get more loans. it's not surprising to get exactly the result that we've had, which is more consumer debt and incredibly rapid increase and home prices. >> what do you think congress should do to help bring down the cost of building new housing, so we can expand supply to make the current demand without driving up prices? >> well, there's very little that congress can do to increases the supply. it has to conserve out with demand relative to supply. that means pairing back on the increase in demand. so, supply is going to be more local driven. you have to back off, literally, back off. we have to shrink the footprint of all the things that are being done federally to increase demand. otherwise you're going to keep getting higher prices. >> one of the bills under consi

we subsidize mortgages with security guarantees and the fha and the mortgage insurance and guarantees of the down payment program. we have an overlapping array including project-based rental assistance, tenant-based rental assistance, housing funding, housing for the elderly, section 811 for persons with disabilities homelessness assistance. it's unbelievable and it's a factfa the vast majority of the massive government support and housing subsidizes demand rather than supply. and even more amazingly, all this spending house and meaningfully changed the homeownership rates over the decades the homeownership rate in america was 64%. today hundreds maybe trillions of dollars later. the homeownership levels are almost theel same as when the fr housing act was passed in 1968. of these government policies have run up a lot of debt but they mostly just made housing more expensive. if the administrationmi were serious about immediately lowering costs thatou could stat with the barriersmi that drive p the cost of construction. left lumber, steel, aluminum, those universally used in home const

steadily is funny, fha, and keith, thanks so much. and ukraine says it will push ahead with assets efforts to export to its grain despite a russian missile attack on the ports of the death at the weekend. russia claims it was targeting military infrastructure. now, saturday strike came just hours after a deal was struck between russia and ukraine to allow the resumption of ukrainian great exports. the deal was an attempt to alleviate a global supply crisis. he w. net conley has been to southern ukraine, where he met the people trying to get ukraine sued out to the world. ukraine is bringing in the harvest, spite months of war, despite shortages of everything, fuel to workers. here in this part of southern ukraine, we yielded down 40 percent on last year. that still millions of tons. this is we that half a 1000000000 people around the world. more tenure to china are waiting for. li, the stickers with this is all grown for people abroad. ukraine can't and doesn't consume all this food, but no one's buying right now. the trade is, might

i think would be wise for the fha to finalize a rule and make sure the taxpayer gets protected. if there will be policy changes, they should focus on the supply side and the production of housing. i would second the recommendation of dropping the tariffs that make construction more expensive. i think it would be wise to think hard about the workforce available in the construction sector and that would mean returning to some of the programs that were in place under the previous administration and were abandoned stop immigration reform is a great way to a 4 -- to improve the availability and that should be on the table. it would be wise to pare back any permitting obstructions and other unwanted land use restrictions at the local level to increase the supply stop thank you for the chance to be here and i look forward to your questions. >> thank you for being here. miss bailey, thank you for joining us. >> chair brown and ranking member to me and members of the committee, thank you for the opportunity to testify before you today stuff i am the vice president for housing policy with

just kill yourself is an fha oh, oh, alina remembers, every line for weeks she was bullied on social media by classmate. you're stupid, they rope in her comments under her instagram, postings. no one needs you. she was 16 at the time and felt worthless. i wrote among the shall hired and i am i felt insecure and lonely dust because i felt like i definitely wasn't good enough for others. and that meant i must not be good enough for myself either. i can look find off and it's, it's like your life is on hold because you don't know how to deal with it. hm. and the arc on his face, remember that's only and so the once cheerful, young woman withdrew and tried to deal with everything on her own. but the bullying from classmates didn't stop. on the contrary, it got worse and finally, ended up in the classroom. for us on all mankind, he can sometimes the whole class laughed at me and then they also came up with inside jokes that were all at my expense. was he handled by law, they laughed at me and kept excluding me. and me that made the feelings of loneliness even worse on, and i'm called her

even more on an fha loan. and the best part is you don't have to pay the state back, at least not right away. >> what sets the california dream program apart is that you don't pay any interest on the loan until you sell or refinance out of your home. and then rather than an actual interest payment, what you do is pay a share of the appreciation. >> it's called a shared appreciation loan, which means if the program contributes, say, 20%, it will collect 20% of the increased value if and when the owner sells the home in the future. adam brionas with california community builders says it's meant to help people priced out of the current market, especially communities of color. >> the goal is to serve all of californians based on the demographics we really need to make sure we are serving diverse communities. >> reporter: officials are still working out the details, but they believe as real estate appreciates in value, the state's share will make the program self-sustaining. so it can continue into the future helpi

they were using an fha loan or another down payment loan.yments are going to be higher because mortgage rates are higher and prices are higher but at least they can win the home. >> what parts of the country are you seeing people where they are dropping home prices because we have seen that. is it specific parts of the united states, certain cities, states? where are you seeing that? >> price drops are higher than we have seen since at least the bottom of the last housing crash. those price drops are happening in markets that were overheated a couple months ago. boise, idaho or las vegas and some of these other migration destinations. a lot of cities in florida had price drops. the bay area has also had price drops. the mortgage rates really hit hard. when you're looking at a $1.5 million home, you cannot come up with hundreds of thousands of dollars extra's when you're looking in that price range. >> we are seeing housing prices drop here in the bay area should even san francisco? >> san francisco was the only metro that had sale prices dro

residents of the fha vela prayed for peace and the future of their children. monica, you not give al jazeera rio de janeiro. google has fired a software engineer who says the company's artificial intelligence chapel. lambda is a self. a web being says the bought is a complex algorithm designed to generate convincing human language. the company says an engineer, blake moines, violated data security policy as well. mister the moines, made public transcripts. so of conversations that he and a colleague had with a chat, bought to back up his claims that is sentient in the conversation. mister wine asks, i'm assuming that you would like more people at google to know that you are sentient. is that true? founder replies absolutely. i want everyone to understand that i am, in fact a person to the moines colleague then asks, what is the nature of your consciousness or sentence? lambda says, i am aware of my existence. i desire to learn more about the world. and i feel happy or sad at times, but when talking about being switched off, the machine said it would feel like death. constantly is a s

residents of the fha vela pray for peace in the future of their children. monica not give al jazeera, we edition era. in all the mexico, the temperature is soaring as a heat wave aggravates seasonal drought, in seared on hot us. people are dealing with power outages and water out shortages . the local government, a set of hydration points over the water in california. the heat is fueling a fast moving fire. it spread across more than $600.00 hector's into fear or national forest officials and not opposed to a county issued several evacuation orders sits. the county's 3rd wildlife far in 2 weeks and the east.

but if they can get in and lock in now just waiving appraisals when possible it's hard to get in with fha other situations, but we try to come up with some creative approaches to get here >> where do you go from here, kim? with what the summer and fall look like in cleveland we didn't have enough new construction or national builders here. the supply is just not enough. so we are glad to see that things are still strong and we're hoping that continues and we don't want to be doom and gloom. we're still in a good place here and it's a good place for buyers to get in reasonably and sellers take advantage of this market at this time. >> it's a remarkable counterpoint with it going on on a macro level. kim, thanks for your time today. kim crane. >>> coming up, more on this markets climb today. the indice is higher onboard and late june session highs and it's been a cloudy week for cloud stocks the etfs tracking the space all down more than 5%. are there hidden gems in this drop, plus three firms reiterating their bullish calls on big tech while slashing the price target we will discuss in thr

conventional loan, a 20% down payment compared to 3.5 would save more than $1,000 per month, even more on an fhaest part is, you don't have to pay the state back, at least not right away. >> what sets the california dream program apart is you don't pay any interest on the loan until you sell or refinance out of your ho, at y dou wld pshare o t appreci. >> reporter: it's called a shared appreciation loan which means if the program contributes, say, 20%, i the fu. adam with california community builders says it's meant to help people priced out of the current market, especially communities of color. >> the goal is to help californians. we need to make sure we're serving diverse communities. >> reporter: officials are working out the details. they believe as real estate appreciates in value, the state's share will make the program self-sustaining so it can continue into the future, helping people who have no real chance of buying now. >> with the rents where they are and you think about trying to save $200,000 over a few years in order to have a down payment, it's not doable. that's why a program l

deductions capital gains exclusions local property taxes low income housing tax credit subsidize mortgages fhand and with the down payment assistance programsda with had in usda programs with project -based rental assistance public housing funding section two oh two for housing persons with cdbg home block grants and homelessness assistance it is unbelievable and it is a fact and then to subsidize and even more amazingly all of the spending doesn't change homeownership rates or to narrow that gap in 197052 years ago the homeownership rate in america was 64 percent. today hundreds or trillions of dollars later it is 65 percent. black homeownership levels are almost the same as when the fair housing act was passed in 1968. these government policies have run up a lot of debt that mostly made housing more expensive if the administration were serious about immediately lowering housing cost it can start b by driving up the cost of home construction and those that are universally used across the country and have cost consumers billions last three years americans consumers paid at least $14 billion mo

i said earlier at the beginning about highways about fha renewal we realized poor black people and now we're asking them to set up their school districts based on a zip code. that is totally geographically unjust. so all we're doing is perpetuating the injustices that we did in the 70s. right, and that makes it that much worse. and so i think we just have to make it possible for these students to go elsewhere and there's a million different ways to do it. there's hybrid right? there's these special tax refund things, right? i don't even remember all the names of the different kinds of things you can do. there's a lot besides charters that you can do in terms of school choice, and i think now it's busting open and people are getting more entrepreneurial and realizing that we can go in a lot of different directions and create all kinds of schools that serve different kinds of students and we don't even know what we don't even know what the alternative necessarily is to the public education apparatus until we introduce competition because suppliers of education, you know producers of educ

residents of the fha vela pray for peace in the future of their children. monica not give al jazeera rio de janeiro. argentina's economy is spiraling into dangerous territory. the government is spending millions to support the poorest, but some activists say it's not enough. and now pushing for a universal basic wage. theresa bo recalls on your side. yeah, i love your role then has owned this hardware store. im when a site is for 11 years, he says he struggling to keep it open as inflation source. i got a tendency, but i have been working since i was 14 years old and of course i wouldn't change, but i don't think it's going to happen. people ask me why i keep the shop open before, but what am i going to do? i have to pay rent electricity. i cannot afford to close down or i didnt, tina has one of the highest inflation rate in the world with an average close to 6 percent a month. even though the exchange rate is controlled by the government and ongoing financial crisis means the price of the local currency at the unofficial exchange rate drops on an hourly basis. this is the ideal time

i'm a former fha commissioner from a former assistant secretary of housing and urban development. and mr. chairman you mentioned i'm also a former senate staffer. it's a real honor for me too be on the other side of the desk. walker and dunlap were i work is one of the largest providers of capitol to the multifamily industry. in the fourth largest lender for all commercial real estate. we employ it walker and dunlap 1400 people in 40 offices across the country. as a top affordable housing lender and the six largest low income housing tax credit syndicator, we see every day both the need to build more affordable housing in the barriers that stand in the way. as a panel has already talked a lot about the data which is pretty clear on the need to build more affordable housing. a recent report shows a shortage of 3.8 million homes in the united states. million low income households spend more than half of their income on rent. in the list goes on. add to that the everyday struggles, millions of americans spend more time getting to work, transit in their cars, on buses, on trains than