The Federal Housing Administration said today that its reserves are dwindling because of risky loans they insured and the drop in home prices.
"The results of the F.H.A.'s annual audit showed the agency's capital reserves to be 0.53 percent, far under the 2 percent minimum mandated by Congress. A year ago, the capital reserves were 3 percent.
'They're running on empty,' a consultant, Ann Schnare, said. 'It all depends how long it takes housing to recover.'
Other critics were less sure that the agency's coffers would not need replenishing."
Read the full story: Housing Agency Says Cash Reserves Are Down Sharply
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Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
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FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
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