Affordable housing development drying up

By Geert De Lombaerde Posted on August 31, 2009 at 11:57 am

Because big money-losing investors like Fannie Mae and Freddie Mac are no longer interested in buying tax credits hawked by low-income housing developers, projects across the country are on hold.

Census data show about 3 million affordable apartments were destroyed, converted to for-sale condos or upgraded to higher-priced rentals during the last six years. At the same time, more than half of all renters are spending at least 30 percent of their before-tax income on housing, up from 40 percent in 2000.

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Tags: Fannie Mae, Freddie Mac, housing market, real estate development, tax credits  

A new boss for Brookdale majority owner

By Geert De Lombaerde Posted on July 21, 2009 at 9:58 am

Daniel Mudd, the former CEO of Fannie Mae, has been named top dog at Fortress Investment Group, the struggling asset manager whose holdings include a 60-percent in Brentwood’s Brookdale Senior Living.

SEE ALSO: Fortress’ disclosure that it plans to shed most of its Brookdale holdings.

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Tags: Brookdale Senior Living Inc., Daniel Mudd, executive appointments, executive leadership, Fannie Mae, Fortress Investment Group LLC, senior housing and assisted living