Norman’s First Black Homeowners Reflect On Five Decades Of Culture Shock And Progress | University of Oklahoma | Normantranscript.com

I had the pleasure of hearing Dr. Henderson speak last year, and then chatted with him for about 10 minutes. On this Martin Luther King Jr. Day this is a great story for people of Norman to remember.

-Grady

Norman’s first black homeowners reflect on five decades of culture shock and progress

When George and Barbara Henderson moved from Detroit to Norman with seven children and Barbara’s mother nearly 50 years ago, they were embarking on an uncertain journey, one that many of their colleagues and friends encouraged them not to make.

Norman was a white town and the Hendersons were a black family. Their friends feared for them.

After some soul searching and labored consideration, they made the move anyway. In 1967, the Henderson family became the first black family to buy a house in Norman, a town that still had sundown laws that prohibited blacks from public life after dark.

The University of Oklahoma had offered George a job as an educational sociologist. He ultimately accepted the position on the condition that he could find adequate housing for his large family. Realtor Sam Matthews, whose name would later grace the Xenia Institute’s humanitarian award, sold them the house at 2616 Osborne Drive.

The Hendersons still call it home to this day. Now, they couldn’t imagine living anywhere else, but when they first moved, they weren’t joining the black community in Norman, they were it.

“You have to understand, we lived in an all-black neighborhood,” George said. “We were part of Detroit society. So, we were integrated into that community. And at that time, Detroit was roughly 75 percent white and 25 percent black. There was no way for us to be prepared for this … I should have listened to my mentor. They said don’t do it. Don’t go there.”

The Hendersons were plugged into the community in Detroit. Oklahoma would prove to be a fresh start with a predictably sour taste. Though gradual attitude shifts occurred over time, and some Normanites did welcome them with open arms, George and Barbara said their initial arrival was met with an unfair share of dirty looks and racist whispers.

Barbara said they knew immediately that they were not wanted by some of their neighbors. It took many forms: Rude phone calls, trash in the yard, hateful messages passed between acquaintances and even threats to their daughters. Their son became the first black player to win a varsity letter in basketball at Norman High, but despite his talent, he still faced an uphill battle. George said that his son’s coach, the late Max Marquardt, told them straight up: “Norman isn’t ready for a black starter.”

George said that may have cost his son an opportunity to vie for an opportunity in the college ranks. Despite those setbacks, he said his children were strong.

“We had never lived this experience,” George said. “I taught it. I even fantasized about it from time to time but I never had a chance to live it. My children did. They were living it. But they didn’t come looking for the negatives. They came looking for the positives and they found them. We were fortunate that their was a university school here. And many of the faculty and staff had their children in that school. Some of the most liberal and progressive people in Norman had their children their.”

When George made the move, he said he was embracing a chance to study the sociological perspective of racism and culture first hand. He was involved in civil rights activities in Detroit, so he considered the move to be “just another challenge.”

He became a stranger in a strange land, an embedded scholar in a hypocritical environment that dominated the cultural landscape of the South during the 60s and beyond.

As time went on, George said things improved, but there was no definitive moment. Eventually, even Marquardt would apologize to their son for lacking the courage to start him.

“It was like Dickens. It was the best of times and the worst of times, but in reverse. The worst of times became the best of times.”

Barbara said it happened because they were working for it. They were unapologetically living their lives here. They were making friends and claiming Norman as their own in spite of it all. Their home became a beacon for guests of the university who had nowhere else to go. When world-famous poet Maya Angelou came to Norman, she visited the Henderson house. When 11-time NBA Champion Bill Russell came to Norman, he visited the Henderson house. He shot baskets with neighborhood kids in the Henderson driveway. The only kids in the neighborhood who got left out were those whose parents had forbidden them to play with the Henderson kids. George said those moments revealed the ridiculous nature of those prejudices.

“What’s interesting to me,” George said, “is that most of the people who didn’t like us just avoided us, or moved out of the neighborhood.”

Barbara said their children were crucial to that issue. She said as they grew, they made connections to other children that would ingrain the Hendersons in the Norman landscape.

When they were faced with slurs and condescension, Barbara said their friends would counter back.

“Or (my children) would,” Barbara said. “They knew who they were. They didn’t have any complexes about being lesser human beings.”

While his family helped change racial attitudes in Norman, George went on to a storied career with the university. The son of Alabama sharecroppers founded OU’s human relations program. He was inducted into the Oklahoma African American Hall of Fame, the Oklahoma Higher Education Hall of Fame and his work garnered him awards like the Walter Nuestadt Award, The Xenia Institute Sam Matthews Humanitarian Award, the Distinguished Service Award from OU, the White Buffalo Mask Award and many more.

After a lifetime in Oklahoma, George said things have changed, but the change he has seen over the decades may only go skin deep. Beneath the facade of social equality there’s still much work to be done.

“Racism hasn’t gone away,” Barbara said. “The face of it’s just changed.”

George said he still sees it.

When he enters the elevator, he sees it.

When he waves hello and gets the cold shoulder, he feels it.

“People are politically correct now,” George said. “You can think it. You can say it privately, but publicly it’s not kosher. It hasn’t gone away. Its death was greatly exaggerated. It still happens on a regular basis.”

Still, George said he isn’t angry. He wasn’t angry when he saw the video of OU students chanting racial slurs on a party bus.

He wasn’t angry when racist vandalism popped up in Norman last year. He believes the path to a brighter future is born of understanding, not judgement.

“The university asked me, and I agreed, to offer diversity training to the students that remained. All of the students who were not expelled spent a Saturday morning with me. I felt that I had to get to know them. They were shocked at first. Here they were going to have to spend a Saturday morning with a black professor …”

Barbara said those students probably expected the worst. What they got instead was George.

“What they got instead was someone who was just curious,” he said. “I felt like I needed to get to know them. I asked them to tell me about themselves, what’s happening to you, for you, about you. And I shared my regret that they indeed had to suffer through some of these things. What they shared with me was that for the first time, they understood what it was like to be a minority and singled out. They were demonized and people didn’t even know them.”

George said those students didn’t just wake up and decide to create that chant. It had to be taught to them. It’s a matter of ritual, the kind that takes time to create, and time to dismantle.

“They will think now,” George said. “It will stay with them for a long time. They got a chance to see the other side. I guess it was good for them to see that (I) could have extracted a morning of pain and that wasn’t the purpose. It was a teachable moment.”

Those are the kinds of moments that George said will make the difference. He’s still combating racism, one class at a time.

“Their children will not be taught the way they were taught,” he said. “They are more accepting. I see the hope in the next generation and the one after that, if I can just reach them.”

He said change is slow, but in a way, inevitable. As younger generations supplant older generations, they supplant old ideas. And though he said it’s absurd to ignore our differences, he said he looks forward to a future where our diversity as Americans and Normanites is celebrated.

“If we were all the same,” George said, “what kind of world would this be? I see the future I want every semester I teach.”

Source: Norman’s first black homeowners reflect on five decades of culture shock and progress | University of Oklahoma | normantranscript.com

Remodeled Space For Aging In Place | The Daily Oklahoman

*You might have to press pause on the video just below if you want to read everything before you watch it, it seems to be playing automatically.

A quick note before the video/article:

Early in 2017 I found myself in the middle of a transaction that had a very strong thread for all parties involved, aging family members. My sellers were helping their mother sell their childhood home, which needless to say had to be emotionally impactful. Not long after the house went on the market I was approached by a lady saying that her daughter lived a few doors down from the house, and they thought it would be nice to live closer to one another. I later discovered that this very witty and charming person was in the earlier stages of an Alzheimer’s diagnosis. Long story short they purchased the home after a few bumps in the road, and she and her daughter renovated the home – and it is immaculate…

I’m currently writing this with tears in my eyes next to my grandfather who is on his deathbed. In the last few years I lived for a while with my grandparents as they were getting settled into their final residence. We’ve been preparing for this moment for a long time, and in the middle of taking care of him for his final stage of life I saw this article pop up in The Daily Oklahoman, telling the wonderful story of some of my newfound friends, Deb and Amy on one side and Larry and Sue on the other. I’m so grateful for everyone involved. Being a part of their story makes me appreciate my own even more, and I’m pretty much bursting at the seems already with love and appreciation for my own family.

-Grady

Remodeled Space For Aging In Place

By Dyrinda Tyson For The Oklahoman dyrinda@gmail.com  


NORMAN — Amy Brewer wanted her mother closer, especially when memory issues began to surface. But it took several years and an Alzheimer’s diagnosis for things to come to a head.

“In April, she got lost for five hours,” she said. “That’s when I decided that she needed to move.”

Her mother, Deborah Brewer, raised a finger.

“Now I have a different story,” she interjected. She offered her explanation, mostly off the record, possibly tongue-in-cheek. “So I knew where I was,” she concluded with a nod.

Still, her daughter saw it as a call to action. Interstate 35 and major chunk of Norman lay between them. And as unpredictable as Alzheimer’s disease can be, the one thing for sure is it doesn’t retreat.

“I decided I’d put this off long enough,” Amy Brewer said. “For five years, I knew we needed to do something. And I’d been floating the idea and floating the idea.”

Her mother, though, was reluctant, at least until Amy played her trump card: “I finally said, ‘There’s going to come a time when I’m going to have to take your car away, and you’re still going to want to see your grandkids. So you need to be right by us. And, she said, ‘I understand.’ ”

The perfect bungalow came on the market that weekend, just two doors down from Amy’s house in central Norman. Things bogged down, however, as she grappled with the logistics of selling one house while buying another.

The bungalow was still on the market when they finally laid a plan in place. They gave the go-ahead to their Realtor, Grady Carter, of Metro Brokers in Norman. But they worried about trust issues on the seller’s side.

“He must have done some magic on his end, though,” Amy Brewer recalled. “I was in San Francisco about to board a flight to New Zealand.”

That meant many hours in the air cut off from communications, so she laid it out in a phone call to Carter. “I said ‘I’m going to land in 13 hours, Grady. Whatever they need us to pay, we’ll pay. Whatever earnest money, we’ll do cash.’ ”

That did the trick. By the time Amy Brewer came home from her extended trip, the deal was done. Friends had pitched in during her absence to ensure Deborah Brewer made it to closing, then helped her move out of her old home and into her daughter’s house to await remodeling on her new digs.

Oh, yes, the remodeling.

“I was really focused on securing this house, which took a long time,” Amy Brewer said. “And after we purchased the house, I realized I had plans to do a complete remodel and no plans to do a complete remodel. I guess someone who knew what they were doing would’ve had that lined up before they closed. A week or two went by, and I realized I had no idea what I was doing.”

Smooth transition

So she did what almost everyone does in this day and age, namely take her plight to social media. And social media gave back, leading her to Kendra Orcutt and her Home Mods By Therapists team. Orcutt channels her experience as an occupational therapist into designing spaces to accommodate people’s physical challenges.

Orcutt and her team opened up the space inside by getting rid of hallways, allowing the bedrooms and bathrooms to open directly up into the main part of the house.

They widened hallways, repurposed space lost to a heater closet to enlarge the laundry room and installed a sliding barn door on the master bathroom, adding not only a trendy touch but one that saves space and is easier for a person on a walker or cane to open.

Even the color scheme in the kitchen was designed with a purpose. The gray-and-black floor tiles are low-contrast, which is easier to navigate with impaired vision or balance.

“By making this house accessible to memory loss, she doesn’t ever have to move,” Orcutt said. “She won’t have to relearn another space. She knows her daughter is down the street. All of those things are important. So what I did was I made things easier to live in.”

Easier to live in, but not institutional. It’s often just a matter of style. What appears to be a towel rack by the bathtub, for example, is actually a grab bar. Its brushed silver surface matches the faucet and, frankly, it could function just fine as a towel rack.

And that’s the point, Orcutt said. “Everything we did in the house, someone else could live in.”

That was a major consideration as Amy Brewer worked to persuade her mother to trade her four-bedroom home for the bungalow.

“She had a great big house, and I didn’t want her to feel like she was having to give up anything,” she said.

Deborah Brewer finally moved into her revamped home in late November. She gave up two bedrooms and a lot of square feet in the move, but may have gained so much more in return.

Amy Brewer smiled as her tween daughter, Harper Sterr, wrapped her arms around her grandmother. “These two are best friends,” she said.

Deborah Brewer held out a hand to compare their heights. “And she’s almost as tall as me.”

Source: Remodeled space for aging in place | NewsOK.com

“These 6 Charts Tell You Everything You Need to Know About the Real Estate Market”

This article was written in 2016 and it is a little bit simplistic, but overall I think that it is a good quick read to talk about the general state of the economy in relation to Real Estate. I know that in Norman in particular this year we’ve definitely had many conversations about the rental market. If you have anything you’d like to add feel free to comment below or on Facebook.

-Grady

These 6 Charts Tell You Everything You Need to Know About the Real Estate Market

There’s likely no sector as important to the U.S. economy as housing.

In the first quarter of 2016, residential investment accounted for roughly half of the 1.1% increase in real GDP. Historically, this is on the high side, but when you count spending on housing services as well as spending on various kinds of housing construction, the home construction industry can account for as much as one fifth of overall output in the U.S. economy.

That’s why housing has traditionally powered the American economy out of recessions, and that’s why housing’s role as the trigger of the Great Recession was so damning to the subsequent recovery. While housing prices have improved—with home values in some markets higher than before the crisis—there’s evidence that the housing bust has inflicted long-term damage on the home building industry and therefore the American economy. Here are 6 charts from Torsten Slok, Deutsche Bank’s Chief International Economist, that show the state of the housing market and how it’s powering, and holding back, the rest of the economy.

People Really Want to Buy Homes

There’s evidence that the millennial generation has been slow to warm to the idea of homeownership, as they are generally delaying decisions like marriage and child rearing. But as this chart shows, overall, Americans are still in the market for new homes.

But Homebuilders Have Been Slow to Respond to Demand

The rate at which homebuilders are constructing new single family homes remains quite depressed, despite steadily increasing demand. Those in the business have argued that supply-side factors, like increased regulation and a short supply of skilled labor as reasons they have been slow to meet demand.

The Homes Being Built are Mostly for the High End of the Market

There are many metrics that one can use to show that homebuilders have decided that it makes sense for them to target wealthier buyers, but the above chart is striking. During an otherwise sluggish economic recovery, the increase in the size of new homes for sale has actually accelerated.

Because Middle-Class Homebuyers Can’t Get Financing

Home builders aren’t the only business that has been turning it’s back on the American middle, for the simple reason that middle class incomes have been on the decline for years now. Furthermore, the mortgage finance industry is still leery of lending to all but the most creditworthy borrowers.

Rental Markets are Tighter Than They’ve Been in Generations

The lack of credit available for new homebuyers has forced more and more homeowners into the rental market, driving up rents and put further pressure on already strained middle-class budgets.

Hope Springs Eternal

Despite what appears to be a negative feedback loop of stagnating middle-class incomes, tight credit, and a homebuilding industry that can’t profitably cater to most of the country, demographics have analysts hopeful that things will turn around in the future. The modal age in America is 26, and this echo-boom generation has yet to settle down and seriously consider homeownership. Analysts hope that this new demographic wave will jolt the housing sector back into pre-bubble normalcy. And we’re moving in the right direction.

Time heals all wounds, even in the real estate market.

Source: These 6 Charts Tell You Everything You Need to Know About the Real Estate Market

New OKC Listing (4 bed, 3.5 bath) – 1433 SW 71st

A well kept and discretely grand house just minutes from downtown Oklahoma City. Sitting on an oversized lot this split bedroom plan is ready for someone to come and make it their own. This home has 3 possible living rooms, and one could be kept as an office space. The storage unit in the backyard is large, and could be used as a workshop, or it could easily store equipment and motorized toys. This wonderful home is priced to sell, and ready for someone to love it!

Walk Through Tour – 1433 SW 71st St

New Listing Alert!!! If you are looking for a very well kept home in Oklahoma City come check this puppy out! 4 bedrooms, 3 and a half bathrooms, on a great big lot just minutes from downtown. Click on the links below if you'd like more information, or just call your Realtor to set up an appointment.

For more pictures click here —–> https://goo.gl/H3ihYp
To see the full listing click here —-> https://goo.gl/FCMTyE

Grady Carter
Metro Brokers of Oklahoma
Lic. #160723
(405) 474-2905

Posted by Grady Carter – Home Boy Real Estate on Thursday, September 7, 2017

 

Source: 1433 SW 71st — Premier House Tours

Campus Open House, Sunday 8/13 from 2:00 to 4:00 – 636 E. Boyd

What are you doing this weekend?! If you are going to be around Norman in the afternoon you should stop by and see me at 636 E. Boyd Street between 2:00 and 4:00 PM. This house is beautiful, and ready for someone to come and love on it. Who do you know who might want to live by campus in Norman? Well feel free to share this with them 🙂

 

Walk Through Tour – 636 E Boyd

New Listing Alert!!!

636 E Boyd Street, Norman, OK

Check out more pictures here —–> https://goo.gl/osR47t
And see the full listing here ——-> https://goo.gl/wdMnAw

Who is looking for an amazing campus home in Norman, Oklahoma?! Just an arrow's flight from The Mont Restaurant and The University of Oklahoma this amazing historical home has tons of character! It boasts: a split plan with 4 bedrooms, 3 bathrooms, 3 living/flex spaces, and a recently updated kitchen. The kitchen looks out over a fantastic covered patio just waiting to entertain before a game, or to sit on while a rain storm rolls through town. And don't miss the wonderful newly added Pella windows. And if you love older homes you will love these original hardwood floors. There is plenty about the house to tell you about, but I highly recommend that you just come and see it for yourself. Call your Realtor to set up an appointment today!

Grady Carter
Metro Brokers of OK
(405) 474-2905
https://goo.gl/mDdLE3

Posted by Grady Carter – Home Boy Real Estate on Thursday, July 27, 2017

New Listing Alert – 1604 Stonewood, 2.2 acres, 3 bed 2½ bath

I love this house! This house was made for that buyer looking for a little extra space – inside and out. It sits on 2.2 acres, and the split floor plan is conducive to entertaining or housing guests for a little while (or longer…). Having a total overhaul the finishings in the home are very nice. The sellers just needed a shop and saw a house that had what they were looking for, otherwise they would’ve never considered moving! If you know someone looking to make a move for a little bit more space in Norman this one might be worth sharing. Go on now, be a friend!

Walkthrough Video Tour – 1604 Stonewood Circle

https://goo.gl/lxJ6kP
New Listing Alert!!! – 1604 Stonewood Circle

This beautiful home has been completely renovated, and it is ready to be showed off! It has 3 bedrooms, 2 and a half bathrooms, 2 livingrooms, another bonus room, a 3 car garage, a great pool area out back, and a rubber roof! Come on in and check it out, and if you'd like to see it in person call your Realtor® and schedule an appointment.

For more details click here: https://goo.gl/lxJ6kP

Grady Carter
Realtor®, GRI
Metro Brokers of OK
Lic. #160723
(405)474-2905
www.HomeBoyOK.com

Posted by Grady Carter – Home Boy Real Estate on Friday, March 24, 2017

Grady Carter
Realtor®, GRI
Metro Brokers of Oklahoma
Lic. #160723
(405)474-2905
HomeBoyOK@gmail.com

New Norman Listing: 3 Bed, 2 Bath Split Plan – $123,000!!!

Well here is a cute one!

https://goo.gl/wZwdje
New Listing Alert: We've got a cute one! This 3 bed / 2 bath little puppy hit the market this…

Posted by Grady Carter – Home Boy Real Estate on Thursday, March 16, 2017

NEW LISTING ALERT!!! – Walk Through Video Tour, 837 Carol Ann Place

Well, here is a new listing in Moore, Oklahoma that I really love!

837 Carol Ann Place – Walk Through Tour

NEW LISTING ALERT!!! – Walk Through Video Tour
https://goo.gl/r43j0B

*837 Carol Ann Place, Moore, OK 73160*
This awesome home has: 4 Beds, 2 Baths, a 3 Car Garage, an Office and a whole lot more! I'm happy to tell you more about this house, but you can just come on in for yourself by watching our walk through tour. Do you know anyone who might be looking for a house like this? Be their buddy and send them this video, or tag them in the comments. This home is looking for another great group to take care of it next! 🙂

For More Info See The Full Listing:
https://goo.gl/r43j0B

Grady Carter
Realtor®, GRI
Metro Brokers of OK
Lic. #160723
(405)474-2905
www.HomeBoyOK.com

Norman Board of Realtors, Oklahoma Association of REALTORS®, National Association of REALTORS®

Posted by Grady Carter – Home Boy Real Estate on Thursday, March 2, 2017

For More Info See The Full Listing:
https://goo.gl/r43j0B

“American Experience: Oklahoma City” National Premier Tonight at 7:00

I posted this on Facebook today, and it had very little / nothing to do with Real Estate. Oh well, it was worth posting about, and if you have the ability I highly recommend you watch this documentary airing on television tonight about the Oklahoma City Bombing at 7:00 cst.

The documentary is called American Experience: Oklahoma City. If you need to set your DVR now would be a good time.

ATTENTION: Tonight at 7:00 is the public television premiere of this new documentary about the Oklahoma City Bombing,…

Posted by Grady Carter on Tuesday, February 7, 2017

Trump Reverses Obama’s Mortgage Fee Cuts on First Day

At the risk of making people angry by posting about anything mildly political I feel compelled to inform anyone brave enough to trust me by clicking on my site that there is news to take note of as of late in regards to the new administration and real estate. Any prospective home buyers planning to get an FHA loan should be aware of some moving parts in relation to their Mortgage Insurance (PMI or MI). FHA loans require mortgage for the life (or 100%) of the loan, while conventional loans typically require this insurance until the homeowner has at least 20% equity (ownership) in their property. This insurance protects banks against people foreclosing/defaulting on their loans.

With that being said the politics of what just happened can be left up to someone else, but the rates were said to be going down by the Obama administration at the very last leg of their tenure, and on day one President Trump signed an executive order to nullify that proclamation. So, rates will be higher than some expected for FHA borrowers, but this could change in the not so distant future considering how quickly some things seem to be moving. Put a pin in this if you plan to get an FHA loan anytime soon.

Grady Carter
Realtor®, GRI
Metro Brokers of Oklahoma
Lic. #160723

Trump Reverses Obama’s Mortgage Fee Cuts on First Day

by

  • Obama sought to reduce fees by a quarter percentage point
  • Loan program is popular among first-time home buyers

What Will President Trump Tackle First?

Soon after Donald Trump was sworn in as president, his administration undid one of Barack Obama’s last-minute economic-policy actions: a mortgage-fee cut under a government program that’s popular with first-time home buyers and low-income borrowers.

The new administration on Friday said it’s canceling a reduction in the Federal Housing Administration’s annual fee for most borrowers. The cut would have reduced the annual premium for someone borrowing $200,000 by $500 in the first year.

The reversal comes after Trump’s team criticized the Obama administration for adopting new policies as it prepared to leave office. In the waning days of the administration, the White House announced new Russia sanctions, a ban on drilling in parts of the Arctic and many other regulations.

No Consultation

Last week, Obama’s Housing and Urban Development secretary, Julian Castro, said the FHA would cut its fees. The administration didn’t consult Trump’s team before the announcement.

Republicans have argued in the past that reductions put taxpayers at risk by lowering the funds the FHA has to deal with mortgage defaults.

Shares of private mortgage insurance companies, including MGIC Investment Corp. and Radian Group Inc., erased earlier losses, trading up about one percent as of mid-afternoon. They closed little changed from the day before. Private insurers, which back loans guaranteed by mortgage-finance companies Fannie Mae and Freddie Mac, compete with the FHA for market share and have been critics of fee cuts in the past.

A letter Friday from HUD to lenders and others in the real-estate industry said, “more analysis and research are deemed necessary to assess future adjustments while also considering potential market conditions in an ever-changing global economy that could impact our efforts.”

Senate Democratic leader Chuck Schumer of New York took to the chamber’s floor to denounce the reversal.

“It took only an hour after his positive words on the inaugural platform for his actions to ring hollow,” Schumer said. “One hour after talking about helping working people and ending the cabal in Washington that hurts people, he signs a regulation that makes it more expensive for new homeowners to buy mortgages.”

Mark Calabria, director of financial regulation studies for the libertarian Cato Institute, said it was appropriate for the administration to examine last-minute decisions by its predecessor, “especially when those decisions appear to be purely motivated by politics.”

Ben Carson, Trump’s nominee to lead HUD, FHA’s parent agency, said at his confirmation hearing last week that he was disappointed the cut was announced in Obama’s final days in office.

FHA Role

The FHA sells insurance to protect against defaults and doesn’t issue mortgages. It is a popular program among first-time home buyers because it allows borrowers to make a down payment of as low as 3.5 percent with a credit score of 580, on a scale of 300 to 850.

The Obama administration announced last week it would cut the insurance premium by a quarter of a percentage point to 0.60 percent, effective on Jan. 27.

Some housing industry groups lauded the change, saying it could increase home buying by offsetting recent rises in mortgage rates. Supporters of the reduction were disappointed that the Trump administration reversed course.

‘Average People’

“This action is completely out of alignment with President Trump’s words about having the government work for the people,” said John Taylor, president of the National Community Reinvestment Coalition, through a spokesman. “Exactly how does raising the cost of buying a home help average people?”

Sarah Edelman, director of housing policy for the left-leaning Center for American Progress, in an e-mail wrote, “On Day 1, the president has turned his back on middle-class families — this decision effectively takes $500 out of the pocketbooks of families that were planning to buy a home in 2017. This is not the way to build a strong economy.”

The FHA came under severe stress after the financial crisis. In 2013, it needed $1.7 billion from the U.S. Treasury, its first bailout in 79 years, due to a wave of defaults. To replenish the FHA’s coffers, the Obama administration several times increased the fees the agency charges. The law requires the FHA’s capital reserve ratio to stay above 2 percent, and the agency hit that level in 2015 for the first time since the bailout.“It is important to ensure that the FHA fund remains strong to support homeownership in the future while minimizing taxpayer risk,” Teresa Bryce Bazemore, president of Radian Group, said in a statement.

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If home is where the heart is I want to help people find the keys to their hearts!

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