Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!americast.com!usa-post Newsgroups: usa-today.real From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: real Wed, May 27 1992 Date: Wed, 27 May 92 05:20:54 EDT Message-ID: 05-27 0000 DECISIONLINE: Real Estate USA TODAY Update May 27, 1992 Source: USA TODAY:Gannett National Information Network FEWER PLAN TO BUY HOMES: The Conference Board Tuesday reported a slight decline in the number of those who plan to buy homes. However, the board, a New York-based business research group, reported the third monthly rise in consumer confidence. Also, sales of previously owned homes declined 0.3% in April from March even though mortgage rates rose, the National Association of Realtors reported Tuesday. WILSHIRE WINS AWARD: The 29th annual Pacific Builder conference Tuesday named Kaplan:McLaughlin:Diaz Architects' design of The Wilshire residential tower in Los Angeles as Grand Award Winner. KMD has won the award for a commercial project three consecutive years. In 1991, KMD was honored for Two Rodeo Drive, a high-end shopping plaza in Beverly Hills. CONN. LOANS APPROVED: The U.S. Small Business Administration Tuesday approved $42 million to help resurrect 173 Connecticut business loans and help ease the state's credit crunch. Many of the loans were delayed when banks and other lenders failed. LENDER DEVELOPS D.C. SYSTEM: The Virginia-based Federal Home Loan Mortgage Corporation announced plans to develop a system to help the Washington, D.C., government track children in its welfare system starting mid-June. The current system's problems include the issuance of checks to families whose foster kids have left home. NAVY TO BUILD APARTMENTS: The Navy plans to build 368 two-bedroom rental apartments for military families at Ewa Beach, Hawaii, adjacent to the Puuloa Golf Course. A private developer will use government land for the project and in return will charge agreed-upon rates to families. After 25 years, the apartments revert back to the government. POLL REVEALS PREJUDICE: Of 659 Louisville, Ky., adults asked whom they would or would not like as neighbors, 44% were opposed to gays living near them, down from 51% who gave that answer in 1990, a Bluegrass State Poll showed. The poll also found that 9% of whites were unwilling to have blacks as neighbors, while 1% of blacks didn't want whites as neighbors. PRISON CONSTRUCTION PLANNED: Groundbreaking is set for Thursday in Plymouth, Mass., for a $70 million prison that will house 1,140 inmates when construction is completed in 1994. In return for hosting the prison, the city will get $200,000 a year during the construction and $400,000 per year after that until 2024. RISE IN OHIO TAXES REPORTED: Ohio property taxes have risen at a rate higher than taxpayers' incomes, the Ohio Public Expenditure Council reported Tuesday. The non-profit research group said that taxes on all types of property grew by 85.2% from 1981 to 1991, while personal income grew by just 72% during the same period. NEW N.Y. METERS LESSEN COSTS: New York City residents who had new water meters installed still paid less for water than the traditional method of computing water usage, according to a study in the May:June issue of the Journal of Housing. The study, which compared 54 residential apartment buildings throughout the city, found that costs were cheaper despite the cost of the meters and installation. RARE SPECIES HALT DEVELOPMENT: Construction at a 90-home luxury housing development in Hurricane, Utah, was at a standstill Tuesday because five rare male desert tortoises in search of mates had taken up residence, federal wildlife officials said. The turtle-like reptiles can't be moved because they are protected under the Endangered Species Act. A survey two years ago found none of the tortoises in the area. REALTORS WORK TO BETTER SCHOOLS: Since 1985, the 18 brokers and agents at Chobee Hoy Associates Real Estate, Inc., in Brookline, Mass., have donated a portion of their commission from each sale to help public schools. The money goes to the Brookline Foundation, a non-profit organization providing grant awards to teachers and paying for equipment and conferences. FIXED-RATE MORTGAGES STABLE: The rates for 30-year fixed-rate mortgages from the Federal Home Loan Mortgage Corp. were listed at 8.53% Tuesday, down from rates of 8.64 Thursday and down from 8.64% a week ago. They were at 9.47% a year ago. For 30-year adjustable-rate mortgages, the rates were 5.93%, down from 5.97% Thursday and down from 5.97% the week before. A year ago they were at 7.22%. ARM INDEXES UNCHANGED: The one-year Treasury ARM index rates were listed at 4.12% Tuesday, unchanged from Thursday and unchanged from the week before. A year ago they were at 6.15%. For the 11th District ARM index, rates were at 5.611%, unchanged from Thursday and unchanged from the week before. A year ago they were at 7.654%. T-BONDS DECLINE: Treasury security rates for the 30-year bonds showed an increase Tuesday, listing at 7.91%. That's up 0.5 from rates of 7.86% Thursday and up 0.14 from 7.77% the week before. A year ago T-bonds were at 8.28%. Real Estate Editor: Christopher Goldthwaite. (1-919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. This article is copyright 1992 Gannett News Service. 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