As part of its economic and budgetary projections, CBO estimates past and future potential outputâalso called potential gross domestic product (GDP), and defined as the maximum sustainable amount of real (inflation-adjusted) output that the economy can produce.
Transitional Housing. This means that there is a time limit on how long you can stay in the housing or receive the housing assistance. HUD defines transitional housing as stays of up to 24 months (but stays can be shorter). Short-Term or Temporary Housing. This means that the housing situation is intended to be very short-term or temporary (30, 60, or 90 days or less).
A HUD home is usually a property that has had its FHA-insured mortgage foreclosed, causing it to end up in HUD's foreclosed home inventory. The Department of Housing and Urban Development sells its properties to owner-occupants and investors through a bid process. If your bid on a HUD property is accepted, you'll need to follow the closing process closely to purchase that property successfully.