Bankers Association to address key housing issues in congress
September 6, 2012
Promoters of the State Housing Plan will discuss strategies and policies for its implementation, while the six candidates for governor will present their platforms to develop the sector during the Puerto Rico Bankers Association’s upcoming 20th Housing Congress.
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Lagging economy, slow population growth affecting P.R. housing market
May 17, 2012
Puerto Rico’s demographics have significantly influenced its housing market in recent years and it is expected to continue playing a crucial role in the future of the local housing market, according to the findings of the “Puerto Rico Housing Market Outlook 2011-2015” study revealed Wednesday by the Puerto Rico Bankers Association.
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$5.2M eco-friendly elderly home to be built in Utuado
March 16, 2012
The central mountain town of Utuado will become home to the island’s first affordable, eco-friendly elderly home, which is slated to begin construction in January 2013, at a cost of $5.2 million, representatives of the nonprofit developer in charge of the project, Pathstone CDC de Puerto Rico, announced this week.
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HFA, Citi create $45M revolving loan fund to build affordable housing
March 1, 2012
The Puerto Rico Housing Finance Authority in partnership with Citi Community Capital, a department of Citigroup’s Municipal Securities Division, has created a $45 million revolving loan fund that will provide capital for the construction of for-sale single- and multifamily-homes for low and moderate income residents of Puerto Rico, government officials announced Thursday.
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New ACH president: Sector will pick itself up by ‘thinking outside the box’
November 2, 2011
Contractor Alejandro Brito, who for the next two years is presiding the Puerto Rico Homebuilders Association, applauded the Gov. Luis Fortuño administration’s decision Tuesday to extend the housing incentive program he said has been “totally effective” through the end of 2012.
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HFA opens 2nd round of foreclosure assistance program
September 22, 2011
Looking to offer alternatives to address the problem of foreclosures in Puerto Rico, the Housing Finance Authority Executive Director George Joyner announced Wednesday the start of a second round of the "Protecting your Home" program, to offer help to families and individuals who have experienced a decline in income and are at risk of losing their homes.
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HUD, local government rescue $42M to create long-term housing projects
September 9, 2011
Gov. Luis Fortuño signed Thursday an executive order creating a committee to implement public policy for housing that calls for working with federal housing officials to make better use of funds.
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Villamil: P.R.’s economy has bottomed out, but contraction will prevail
September 8, 2011
Puerto Rico’s economic situation has reached rock bottom, but it may as well be standing on quicksand given the instability of the U.S. economy and subsequent federal cutbacks, the volatility in petroleum prices and a potential deterioration of the housing market once local incentives run out.
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19th Housing Congress to build strategies for sector’s growth
September 7, 2011
Housing and banking industry executives who have been working with local and federal government agencies to develop an all-encompassing plan to stimulate activity in a sector that has been battered by the economy will present their proposals and strategies during the 19th Housing Congress taking place Thursday.
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Fortuño signing Housing Stimulus program extension today
July 5, 2011
Gov. Luis Fortuño will be signing a six-month extension to the 2011 Housing Stimulus law today, giving would-be homebuyers the chance to take advantage of exemptions on closing costs and taxes.
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HFA launches mortgage loan assistance program
April 29, 2011
Some 1,500 Puerto Rico homeowners facing the possibility of foreclosure may be able to qualify for a new $20 million emergency assistance program unveiled Friday by the Puerto Rico Housing Financing Authority, in agreement with local banks.
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Gov’t housing incentive program moves more than $1.7B in property sales
March 24, 2011
With just three months left before the government’s housing incentives program comes to an end, Housing Finance Authority Executive Director George Joyner urged consumers looking to buy a property to avoid waiting until the last minute.
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Housing incentives move market
December 27, 2010
In the first three months since the launching of a government program to boost housing sales, some 10,640 units have been sold, representing more than $1.4 billion in economic activity, Housing Financing Authority officials said over the weekend.
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