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  I n   t h e   N e w s

Miami skyline
Miami skyline


Miami Spotlighted in the Nation’s Rental Crisis
The New York Times
April 18, 2014

Rental prices throughout the nation are skyrocketing, available affordable rents are diminishing and the combination is creating a massive lack of affordability for middle and low income renters.  Miami comes in as the second highest in the nation at an average of 43 percent of residents’ income going towards housing costs (up from 25 percent).  Homeownership is sometimes more affordable than renting, but often prospective buyers are unable to qualify due to hefty student loans and other debt.  Miami is particularly subject to wealthy investors, creating a surge in luxury apartments and a lack of support for affordable developments.  “And Florida, which like other states faced large budget shortfalls after the financial crisis, has raided its housing trust fund, funded by a real estate transfer tax, for several years running.”   More… 

Rhode Island Row
Photo:  Rhode Island Row
is organized around a landscaped main street that leads to Metrorail’s Rhode Island Avenue-Brentwood station (courtesy of Rhode Island Row).

Award Winning Affordable Housing in Washington D.C.
PD&R  Best Practices
April 15, 2014

Washington D.C.’s population has experienced rapid growth and with it a housing market severely lacking in affordable rental units.  In an effort to provide a solution, Urban Atlantic and A&R Development Corporation collaborated with local stakeholders to build Rhode Island Row, a 70,000 square foot mixed-use affordable residential community. The building earned Urban Land Institute’s Jack Kemp Workforce Housing Models of Excellence Award.  Rhode Island Row contains 274 apartments, of which 55 are for very low-income renters and 219 are for workforce households.  A&R Development Corporation joined with the D.C.’s Department of Housing and Community Development to attain zoning for the building that will maintain a 20-year affordability restriction.   More… 

FannieMae logo

Survey Finds U.S. Population is Optimistic About Housing Market
FannieMae Press Release
April 14, 2014

The Fannie Mae National Monthly Housing Survey reports the nation’s current attitude about homeownership, renting, the economy and household finances.  The March 2014 survey shows improved optimism including:  69 percent of people surveyed felt it was a good time to buy a home, 52 percent felt positive about securing a mortgage and almost half of all respondents felt that their household expenses were significantly lower now than one year ago.  More… 

Report "Out of Reach 2014"

“Out of Reach 2014” –NLIHC Report
National Low Income Housing Coalition (NLIHC)
April 9, 2014

The annual study published by National Low Income Housing Coalition (NLIHC) delves into the cost affordability of the rental market on full-time workers.  Fair Market Rent (FMR) is defined by U.S. Department of Housing and Urban Development (HUD) as a person spending no more than 30 percent of their income on housing costs.  “In the United States, the 2014 two-bedroom Housing Wage is $18.92. This national average is more than two-and-a-half times the federal minimum wage, and 52% higher than it was in 2000. In no state can a full-time minimum wage worker afford a one-bedroom or a two-bedroom rental unit at Fair Market Rent.”  More...   

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Read articles and publications from around the web regarding housing related issues. Information is updated automatically as new information becomes available.

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