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AROUND THE WEB

MSN Money
October 2, 2005
Bill Fleckenstein

Faith-based charity fuels housing bubble

Empty houses, falling prices: A boom dies

"Homebuilders across the country, including Dominion Homes, have found a way around a Federal law barring [home] sellers from giving money directly to buyers for a down payment. They route the money through charities such as the Nehemiah Corp. of America, a faith-based group in California. Nehemiah provides down payments for both existing and new homes, and its relationship with Dominion is the largest of its kind in central Ohio between a builder and charity.

Also see:

Faith-based watch

Seeing the Forest: A heck of a lot of money has been slathered on politicians in Ohio from individuals associated with Dominion Homes

 

Read the story >