(RECAP: FHA mortgage loans have historically been riskier than conventional mortgage loans because borrowers on FHA loans typically have lower credit scores and high LTV ratios on their loans. The surprising recent data shows, but, that FHA loans may not be as risky as they have been historically—and in fact, lately, have been less risky than conventional loans. Not only is the risk down for FHA/VA/USDA loans down compared with conventional mortgage loans, but the volume is up. The recently-released American Enterprise Institute/First American National Mortgage Market Index showed an increase of 9.2 percent in Q2 2016, compared with last year, and that the share of FHA-backed mortgage loans has increased relative to the volume of conventional loans.)

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(RECAP: In Richmond’s Creighton Court, residents are coming to terms with news that an overhaul of the public housing development will not happen any time soon. Many saw the east-end redevelopment as a second chance for Creighton Court and the surrounding area, but with $30 million in federal funding falling through, the restart will have to wait. Earlier this year, the Richmond Redevelopment Housing Authority projected the Creighton Court overhaul would take five years. Without the grant, it could take 10. Moving forward, Richmond city council will have to make a new approach to re-develop the area.)

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(RECAP: A second grade teacher in Alexandria public schools makes roughly $22 per hour. A first-rank police officer in the city earns $23 per hour. According to the Alexandria Office of Housing, the average wage needed to rent an apartment in Alexandria is $30.50 per hour. As housing costs continue to rise, Alexandria’s firefighters, bus drivers, social workers, and countless other professions are being pushed out or forced to pay rents that exceed their affordability. According to Helen McIlvaine, director of the Office of Housing, 70 percent of Alexandria’s population spends more on their homes than what is considered affordable.)

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