Gov. Wes Moore and housing secretary Jake Day: Maryland is facing a crisis; now is the time to take action | COMMENTARY

by Wes Moore and Jake Day

Capital Gazette

The Wes Moore-Aruna Miller Administration has made “work, wages, and wealth” our North Star. We must ensure that every Marylander can get a good job, earn good pay and pass something on to their children — besides debt.

Over the last 12 months, we’ve looked under the hood of our state’s economy to learn about the barriers standing between Marylanders and opportunity. Our economic engine is getting stronger thanks to programs we championed in our first year. But we’re still leaving too much potential on the table — resulting in fewer pathways to work, wages and wealth.

After examining our state’s fiscal health, one thing has become abundantly clear: To build a stronger economy and give more Maryland families a fair shot at success, we must address the housing crisis head-on and build a stable housing market that drives long-term economic growth.

Juvenile justice among criminal justice reform topics up for discussion in upcoming Md. legislative session

by William J. Ford

Maryland Matters on WTOP 

The Maryland General Assembly passed a juvenile justice reform measure last year to restructure how the state deals with young people involved in certain crimes by providing them resources versus detaining them behind bars and prosecuting them in court.

Juvenile justice was a major topic in 2023 after several high-profile shootings and crimes, including a mass shooting at the Brooklyn Homes community in Baltimore for which multiple teenagers face charges. Several months later in November, Baltimore police arrested two juveniles, ages 12 and 14, who assaulted, robbed and tried to steal a woman’s car, before being released several hours later.

Modest Increase in Mortgage Activity to Start 2024

by Jesse Wade

Eye On Housing

Per the Mortgage Bankers Association’s (MBA) survey through the week ending January 5th, total mortgage activity increased 9.9% from the previous week, and the average 30-year fixed-rate mortgage (FRM) rate rose five basis points to 6.81%. After the total mortgage activity index fell 10.7% in the last week of December, it bounced back in the first week of the year. The data includes an adjustment for New Year’s.

The Market Composite Index, a measure of mortgage loan application volume, rose by 9.9% on a seasonally adjusted (SA) basis from one week earlier. Purchasing activity increased 5.6% and refinancing activity increased 18.8% week-over-week.

You're Invited to Sylke Knupple's Installation as the MBIA 2024 President

Thursday, January 25, 2024

Maryland Center for Housing

4:30PM - Installation of Officers featuring Marilyn Balcombe 

5:00-7:00PM- Networking

Live Music, Open Bar

Appetizers and Snacks

Maryland lawmakers to wrestle with budgeting, public safety, housing as session opens

by Brian Witte

Associated Press

The Maryland General Assembly opens its annual 90-day legislative session on Wednesday with lawmakers set to wrestle with budget challenges as well as measures on affordable housing and public safety.

Like other states, Maryland greatly benefited from federal pandemic aid in recent years. But now Maryland is facing a projected structural deficit of $761 million in the next fiscal year. That is expected to balloon to about $2.7 billion in fiscal year 2029, largely due to rising costs of a K-12 education funding reform law.

Safe, affordable housing needs to be preserved in 2024 General Assembly

by Sharon Goldsmith

The Daily Record

Housing stability is a vital step toward self-sufficiency and economic opportunity. An individual’s access to housing is fundamentally linked with the well-being of their community. Loss of a home, whether through eviction or foreclosure, is often the catalyst for a cascade of adverse economic and social consequences for the poorest and most marginalized in our communities. Unstably housed families are more likely to experience a disruption of education, endure acute and prolonged stress reactions, suffer mental or physical health challenges, face financial insecurity and be the victim or perpetrator of violence. Maryland’s Governor Wes Moore declared secure housing as a priority, and the Pro Bono Resource Center of Maryland (PBRC) is optimistic about what can be accomplished to preserve safe and affordable housing during the 2024 Maryland General Assembly session.