Boston, Worcester make U.S. News bounceback list
As a new homeowner, I am a touch hopeful about this one. U.S. News and World Report has picked Boston and Worcester among its 10 Hard-Hit Housing Markets That Are Ready to Rebound.
Luke Mullins notes that Warren Group CEO Timothy Warren cites potential growth in health care and higher education as drivers behind Worcester’s recovery (+6% by 2012 and +21% by 2014), and sees the same sectors driving Boston’s bounceback as well (+3% and +18%, respectively). The numbers sound good, but sadly, that won’t get housing prices up to the levels they enjoyed before the recent crash, and there are a lot of things – higher energy costs, etc., that could derail the recovery.
But considering the way things have gone in the local housing market of late, I’d rather be on the list for the Top 10 than not on it, which is a problem some of the southern and western cities that have taken the brunt of the housing crash still face. There, it looks like the bubble that popped in 2008-2009 won’t be reinflating any time soon.
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Consolidating Debt
By: Jennifer Lane CFP 
Today we tackle debt consolidation, with a question from Stephen:
Hi Jennifer, I’m married with 2 young children living in Reading. Five years ago we took a 5/1 ARM at 3.875% thinking we were going to move into something bigger within 5 years. We didn’t and now we plan to stay here indefinitely.
Is Refinancing a Good Idea?
Jennifer Lane, Compass Planning
Jennifer Responds to a Viewer Question from: Virginia in Fountain Hills, Arizona
Dear Jennifer,
Should I save interest costs by paying extra on my mortgage principal or refinance to a lower rate?
Finding Opportunity in Dealership Closings
By: Peter Howe
For Arlington, it came a year ago, a glimpse of what now awaits dozens of New England communities. The Buick dealership in the center of town, Hodgdon-Noyes, next to Arlington High School, closed down as the owners decided to get out of what was a shrinking business.
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Owning a home vs. renting an apartment
Keeping a roof over your head is the most basic need, even when times are tough. So, one question you have to answer is: should it be your roof or someone else’s? In other words, should you own or rent a place? The American dream is to own a home. But, as this recession has proved, it can be a nightmare, if you can’t afford one.
Video report provided by ABC.
Tonight, on Business Day
Investment Banker Goldman Sachs has agreed to a $60 million dollar settlement with Massachusetts, for its role in the state’s subprime lending problem. Goldman has pledged $10 million for the state, and $50 million in relief to homeowners. Tonight, Business Day reporter Peter Howe talks to a homeowner whose subprime mortgage sent him into foreclosure.
And, PBS’ “This Old House” comes to Hendry Street in Boston, one of the city’s most foreclosure-blighted areas. See what Mayor Tom Menino has to tell the home improvement show about renovating areas suffering in the housing crisis.
Bay State reaches $60M deal with Goldman
Massachusetts Attorney General Martha Coakley has reached a $60 million settlement with Goldman Sachs for its role in the state’s subprime lending problem.
The investment banker has pledged to provide $50 million in relief to homeowners and make a $10 million payment to the state as part of the settlement.
A spokeswoman for Coakley says the deal is the first of its kind in the country.
Welcome to the Biz Day Buzz
If you are stumbling across this site for the first time, welcome to the Biz Day Buzz, NECN’s daily blog to go along with New England’s only daily business show, Business Day.
We are still getting things set up, so consider this site in Beta for a couple of weeks, but we will quickly be picking up the posting pace as we get more and more people online with the show.
if you have any ideas or feedback that you want to share, feel free to post them in the comments to this post. We want to hear from you!
Will the housing stimulus help?
Jennifer Lane weighs in: The new housing stimulus plan is designed to bring help to homeowners in trouble. So who is eligible for help, and what should you do if you’re not?
That was the first of the viewer questions we answered tonight.
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