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The fledgling U.S. housing recovery lost momentum last year as homeownership rates continued to fall, single-family construction remained near historic lows, and existing home sales cooled, concludes The State of the Nation’s Housing report released today by the Joint Center for Housing Studies of Harvard University. In contrast, rental markets continued to grow, fueled by another large increase in the number of renter households. However, with rents rising and incomes well below pre-recession levels, the U.S. is also seeing record numbers of cost-burdened renters, including more renter households higher up the income scale

July 29, 2009 - (RealEstateRama) -- Mayor Thomas M. Menino today announced the City’s new Homeownership Stabilization Campaign, a comprehensive 12-month initiative through which the City has committed to spend as much as $18 million to help Boston’s neighborhoods recoup from the nationwide foreclosure crisis. Joined by state and local housing officials, Mayor Menino described the campaign as having a two-part strategy to help retain and support existing homeowners while adding new buyers to the market through bolstered homeownership programs