Maryna Lialko had raised the girls alone after their father left the family, their grandmother, Nina Lialko, said.

“She was devoted to these two girls,” she said.

Kateryna was discharged this fall from Ohmadyt hospital, where she received psychiatric and physical therapy, and the girls are now in Kyiv living with their grandmother and aunt.

The aunt, Olha Lialko, said she has seen a shift in their personalities. Kateryna is increasingly turning inward; she speaks very little and struggles to maintain eye contact. Yuliia still can’t fully comprehend the loss.

“Katya is very closed; she keeps it all to herself,” Olha Lialko said. “Yuliia is missing mom a lot. She needs attention, she likes to cuddle.”

The family is trying to help the girls process their loss. And occasionally they see glimpses of the girls they knew before the war.

They dye their hair wild colors and play with makeup. They fight as only sisters can, and cling closely to each other for company.

But no one knows what will come next for them. Their life is on hold. They attend school online and have few friends in the new city. The family is unable to return home to Donetsk but unwilling to commit to staying in Kyiv.

“It will be very difficult for them to live without her,” their grandmother said. “This life has no sense at all.”

Oleksandra Mykolyshyn contributed reporting

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Federal Home Loan Bank of Dallas Awards Nearly $17.2 Million for Affordable Housing

DALLAS–(BUSINESS WIRE)–The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded nearly $17.2 million in Affordable Housing Program (AHP) subsidies to 26 projects, primarily within its five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. The subsidies will result in the creation or rehabilitation of 2,022 housing units.

“Everyone should have access to affordable housing and the AHP is one way we support our members in financing projects in communities with the most critical needs,” said FHLB Dallas President and CEO Sanjay Bhasin.

FHLB Dallas annually returns 10 percent of its profits in the form of AHP subsidies to the communities served by its member institutions. AHP funding is utilized for a variety of projects, including home rehabilitation and modifications for low-income, elderly and special-needs residents; down payment and closing-cost assistance for qualified first-time homebuyers; and the construction of low-income, multifamily rental communities and single-family homes.

Between 1990 and 2021, FHLB Dallas awarded more than $344.6 million through AHP and Homeownership Set-Aside Programs, such as a down payment assistance program, a home repair and modification program geared toward seniors and others with disabilities and a disaster recovery program to help nearly 60,000 households.

Home Bank is among 14 FHLB Dallas members through which AHP funds will be awarded. FHLB Dallas awarded nearly $1.25 million through Home Bank to a project that will result in 94 new affordable housing rental units in New Orleans, and Opelousas, Louisiana. Kelvin Luster, senior vice president and community development director at Home Bank, said Home Bank has supported the AHP for more than 30 years.

“The AHP subsidies allow Home Bank to assist our communities in ways we could not have done on our own. We are pleased to be included in this latest round of funding to further our investment across the communities we serve,” he said.

Below is a state-by-state listing of the 2022 AHP subsidies. For more information about the 2022 AHP subsidies and other FHLB Dallas community investment products and programs, please visit fhlb.com/ahp.

Arkansas $1,185,000 for 228 units

Magnolia

Member: Cadence Bank

Sponsor: Magnolia Housing Authority

Subsidy: $750,000 for 180 rental units

Paragould

Member: First National Bank

Sponsor: Paragould Housing Development Corp.

Subsidy: $435,000 for 48 rental units

Louisiana $5,829,788 for 562 units

Alexandria

Member: Red River Bank

Sponsor: The Salvation Army Territorial Headquarters

Subsidy: $750,000 for 45 rental units

Baker

Member: Red River Bank

Sponsor: Gulf Coast Housing Partnership

Subsidy: $750,000 for 49 rental units

Houma

Member: b1 Bank

Sponsor: START Corporation

Subsidy: $399,787.51 for 33 rental units

Kenner

Member: Home Federal Bank

Sponsor: Kenner Housing Authority

Subsidy: $750,000 for 121 Rental units

Merryville

Member: Home Federal Bank

Sponsor: Merryville Housing Authority

Subsidy: $750,000 for 90 rental units

New Orleans

Member: Home Bank, N.A.

Sponsor: Providence Community Housing

Subsidy: $750,000 for 62 Rental units

Member: Fifth District Savings Bank

Sponsor: Gulf Coast Housing Partnership

Subsidy: $450,000 for 30 rental units

Opelousas

Member: Home Bank, N.A.

Sponsor: Gulf Coast Housing Partnership

Subsidy: $480,000 for 32 rental units

Rayville

Member: Home Federal Bank

Sponsor: Rayville Housing Authority

Subsidy: $750,000 for 100 rental units

Mississippi $1,110,000 for 74 units

Gulfport

Member: Hope Federal Credit Union

Sponsor: Gulf Coast Housing Partnership

Subsidy: $600,000 for 40 rental units

Jackson

Member: BankPlus

Sponsor: Gulf Coast Housing Partnership

Subsidy: $510,000 for 34 rental units

New Mexico $750,000 for 66 units

Rio Rancho

Member: Wells Fargo Bank South Central

Sponsor: CC Housing Inc.

Subsidy: $750,000 for 66 rental units

Texas $7,560,000 for 1,018 units

Alice

Member: First Community Bank

Sponsor: Rural Economic Assistance League Inc.

Subsidy: $750,000 for 68 rental units

Austin

Member: Texas Capital Bank, N.A.

Sponsor: Guadalupe Neighborhood Development Corp.

Subsidy: $750,000 for 114 rental units

Member: Wells Fargo Bank South Central

Sponsor: Foundation Communities, Inc.

Subsidy: $750,000 for 123 rental units

Member: Wells Fargo Bank South Central

Sponsor: Foundation Communities, Inc.

Subsidy: $750,000 for 110 rental units

Fort Worth

Member: Texas Capital Bank, N.A.

Sponsor: Fort Worth Affordability Inc.

Subsidy: $750,000 for 174 rental units

Houston

Member: Frost Bank

Sponsor: William A Lawson Institute for Peace and Prosperity

Subsidy: $750,000 for 119 rental units

Member: Comerica Bank

Sponsor: New Hope Housing Inc.

Subsidy: $750,000 for 120 rental units

New Braunfels

Member: Frost Bank

Sponsor: Connections Individual and Family Services, Inc.

Subsidy: $300,000 for 20 rental units

San Antonio

Member: Frost Bank

Sponsor: Housing First Community Coalition, Inc.

Subsidy: $750,000 for 76 rental units

Member: Frost Bank

Sponsor: SAMMinistries

Subsidy: $750,000 for 60 rental units

Waco

Member: Texas Capital Bank, N.A.

Sponsor: Solutions for Veterans

Subsidy: $510,000 for 34 rental units

Out of District $750,000 for 74 units

Minnesota

Alexandria

Member: Wells Fargo Bank South Central

Sponsor: Minnesota Adult & Teen Challenge

Subsidy: $750,000 for 74 rental units

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US Economy Grew at 2.6% Annual Rate in Q3, GDP Report Shows

The U.S. economy grew slowly over the summer, adding to fears of a looming recession — but also keeping alive the hope that one might be avoided.

Gross domestic product, adjusted for inflation, returned to growth in the third quarter after two consecutive quarterly contractions, according to government data released Thursday. But consumer spending slowed as inflation ate away at households’ buying power, and the sharp rise in interest rates led to the steepest contraction in the housing sector since the first months of the pandemic.

The report underscored the delicate balance facing the Federal Reserve as it tries to rein in the fastest inflation in four decades. Policymakers have aggressively raised interest rates in recent months — and are expected to do so again at their meeting next week — in an effort to cool off red-hot demand, which they believe has contributed to the rapid increase in prices. But they are trying to do so without snuffing out the recovery entirely.

The third-quarter data — G.D.P. rose 0.6 percent, the Commerce Department said, a 2.6 percent annual rate of growth — suggested that the path to such a “soft landing” remained open, but narrow.

loss of purchasing power over time, meaning your dollar will not go as far tomorrow as it did today. It is typically expressed as the annual change in prices for everyday goods and services such as food, furniture, apparel, transportation and toys.

President Biden cheered the report in a statement Thursday morning. “For months, doomsayers have been arguing that the U.S. economy is in a recession, and congressional Republicans have been rooting for a downturn,” he said. “But today we got further evidence that our economic recovery is continuing to power forward.”

By one common definition, the U.S. economy entered a recession when it experienced two straight quarters of shrinking G.D.P. at the start of the year. Officially, however, recessions are determined by a group of researchers at the National Bureau of Economic Research, who look at a broader array of indicators, including employment, income and spending.

Most analysts don’t believe the economy meets that more formal definition, and the third-quarter numbers — which slightly exceeded forecasters’ expectations — provided further evidence that a recession had not yet begun.

But the overall G.D.P. figures were skewed by the international trade component, which often exhibits big swings from one period to the next. Economists tend to focus on less volatile components, which have showed the recovery steadily losing momentum as the year has progressed. One closely watched measure suggested that private-sector demand stalled out almost completely in the third quarter.

Mortgage rates passed 7 percent on Thursday, their highest level since 2002.

“Housing is just the single largest trigger to additional spending, and it’s not there anymore; it’s going in reverse,” said Diane Swonk, chief economist at the accounting firm KPMG. “This has been a stunning turnaround in housing, and when things start to go really quickly, you start to wonder, what are the knock-on effects, what are the spillover effects?”

The third quarter was in some sense a mirror image of the first quarter, when G.D.P. shrank but consumer spending was strong. In both cases, the swings were driven by international trade. Imports, which don’t count toward domestic production figures, soared early this year as the strong economic recovery led Americans to buy more goods from overseas. Exports slumped as the rest of the world recovered more slowly from the pandemic.

Both trends have begun to reverse as American consumers have shifted more of their spending toward services and away from imported goods, and as foreign demand for American-made goods has recovered. Supply-chain disruptions have added to the volatility, leading to big swings in the data from quarter to quarter.

Few economists expect the strong trade figures from the third quarter to continue, especially because the strong dollar will make American goods less attractive overseas.

Jim Tankersley contributed reporting.

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Tricon Completes the Sale of its Interest in U.S. Multi-family Portfolio for $315 Million of Proceeds

TORONTO–(BUSINESS WIRE)–Tricon Residential Inc. (“Tricon” or the “Company”) (NYSE: TCN, TSX: TCN), an owner and operator of single-family rental homes and multi-family rental apartments in the United States and Canada, confirmed today the closing of the previously announced sale of its 20% equity interest in a portfolio of 23 Sun Belt apartment buildings to a vertically integrated residential real estate investment and property management company, which will assume all asset and property management responsibilities for the portfolio after a customary transition period.

The sale resulted in gross proceeds of approximately $315 million to Tricon. The Company intends to use the net sale proceeds primarily to repay outstanding debt on its corporate credit facility, enhancing its balance sheet flexibility to pursue future growth in its core single-family rental business. Tricon also intends to use a portion of the proceeds to repurchase common shares under the normal course issuer bid announced on October 13, 2022.

About Tricon Residential Inc.

Tricon Residential Inc. is an owner and operator of a growing portfolio of approximately 34,000 single-family rental homes and multi-family rental apartments in the United States and Canada with a primary focus on the U.S. Sun Belt. Our commitment to enriching the lives of our residents and local communities underpins Tricon’s culture and business philosophy. We strive to continuously improve the resident experience through our technology-enabled operating platform and innovative approach to rental housing. At Tricon Residential, we imagine a world where housing unlocks life’s potential. For more information, visit www.triconresidential.com.

Forward-Looking Information

This press release contains forward-looking statements and information relating to expected future events and the Company’s financial and operating results and projections that involve risks and uncertainties, including statements regarding the Company’s intentions, growth and investment opportunities, and performance goals and expectations. Such forward-looking information is typically indicated by the use of words such as “will”, “may”, “expects” or “intends”. The forward-looking statements and information contained in this press release include, without limitation, statements regarding: the Company’s use of the net transaction proceeds and the expected debt reduction and balance sheet impact of that use.

If unknown risks arise, or if any of the assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from management expectations as projected in such forward-looking statements. Examples of such risks and uncertainties include, but are not limited to, the inability to complete the transaction described herein due to the failure to satisfy its requisite conditions, and other risk factors described in the Company’s continuous disclosure materials from time to time, available on SEDAR at www.sedar.com. Accordingly, although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

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Home Bank and FHLB Dallas Award $5K to Slidell Affordable Housing Nonprofit

MANDEVILLE, La.–(BUSINESS WIRE)–Home Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) recently awarded $5,000 in Partnership Grant Program (PGP) funds to Northshore Housing Initiative (NHI), a Community Land Trust that supports affordable housing initiatives in St. Tammany Parish.

Awarded annually through FHLB Dallas’ member institutions, Partnership Grant Program (PGP) funds help promote and strengthen relationships between community-based organizations (CBOs) and FHLB Dallas members. FHLB Dallas matches member contributions of $500 to $4,000 at a 3:1 ratio.

“Northshore Housing Initiative supports Home Bank’s mission of serving our communities’ needs with affordable workforce housing,” said Kelvin Luster, community development director at Home Bank. “We are incredibly honored to support Northshore Housing Initiative alongside FHLB Dallas, which has allowed our investment to go further.”

NHI will use its PGP grant proceeds to expand its Community Trust Fund. The trust acquires land and maintains permanent ownership of it. It enters into a long-term, renewable lease instead of a traditional sale with homebuyers. When the homeowner sells, the family earns a portion of the increased property value and the remainder is kept by the trust to preserve the affordability for future low- to moderate-income families.

NHI is one of seven local nonprofit organizations that Home Bank is supporting with PGP funding this year. Together, Home Bank and FHLB Dallas contributed more than $67,000 to seven CBOs across Louisiana, Mississippi and Texas.

“Home Bank pours its resources into communities,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “It is an honor to partner with a financial institution that shows this level of commitment to caring for the affordable housing needs in its community.”

See the complete list of the 2022 PGP grant recipients. For more information about the 2022 PGP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com/pgp.

About Home Bank, N.A.

Home Bank, N.A., founded in 1908 as Home Building & Loan, is the oldest financial institution founded in Lafayette Parish. Home Bank now serves markets in South Louisiana and Mississippi in 40 locations. Home Bank is committed to serving the needs of our communities. Personal banking has always been Home Bank’s trademark and that tradition continues as we grow, invest and serve our clients and community. We live our values each day, focusing on integrity, innovation and a commitment to serving others. For more information about Home Bank, visit www.home24bank.com.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $77.7 billion as of June 30, 2022, serves approximately 800 members and associated institutions across our five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. FHLB Dallas provides financial products and services including advances (loans to members) and grant programs for affordable housing and economic development. For more information, visit our website at fhlb.com.

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