Ah, supply and demand! One of the most important questions about #affordablehousing is this: Does building more apartments make rents more affordable? Or does new housing just push up rents for those nearby (i.e. cause gentrification)? A team at NYU looked at all the major studies that have been done of new housing’s impact on rents and found … yes, additional #housing makes rents more affordable … even for those living nearby. https://commonwealthbeacon.org/housing/study-says-boosting-housing-production-tempers-rents/
Modern manufactured homes boast traditional aesthetics and high-quality construction. They're increasingly sold with land, bypassing the risk of rent spikes for residents. This opens doors for communities to add affordable housing options.
“On the low end, we are spending roughly $13,639,500,600 making homeless people uncomfortable. Imagine the headway we could make if we spent that same amount of money making homeless people not homeless. Would homelessness even exist if that were the case?”
Signature Bank Portfolio Sold in Two Deals That Could Preserve Affordable Housing
The City - December 20, 2023
“The two deals will manage loans covering more than 2,000 apartment buildings and 70,000 rent-controlled or rent-stabilized units in every borough but Staten Island.”
Proof on my street this morning that BC’s new law around #ShortTermRentals is having an immediate, positive, impact on providing housing!
This house sold in the Spring. A young couple from Victoria bought it. Almost immediately, there were BnB guests every weekend continuing through the summer and into fall. Then the new legislation came in.
Today, a family is moving in for what the owners said was a year-long rental until the owners move here. #bcpoli#housingCrisis#AffordableHousing#airbnb
Record Rent Burdens Batter Low-Income Life
The New York Times - December 11, 2023
“More tenants than ever spend half or more of their income for shelter, leaving less for everything else, taking an emotional toll and leaving some without a place to call their own.”
New Leg. Proposes to Take Wall St Out of the Housing Market
The bill would ban hedge funds from buying & owning single-family homes in the US. If signed into law -could potentially increase the supply of homes available for individual buyers -would require hedge funds to sell off all the single-family homes -over a 10-yr period, & eventually prohibit such cos.-.
“The housing in our neighborhoods should be homes for people, not profit centers for Wall Street,” said Sen. Jeff Merkley. “Yet, in every corner of the country, giant financial corporations are buying up housing and driving up both rents and home prices.”
Without this legislation, "... large institutions are projected to own more than 40 percent of all single-family rental units in the U.S. by 2030"
This legislation should've been passed years ago if it weren't for Rs, it may have a chance now: New Leg. Proposes to Take WS Out of the Housing Mkt.
The bill would ban hedge funds from buying & owning single-family homes in the US. If signed into law -could potentially increase the supply of homes available for individual buyers -would require hedge funds to sell off all the single-family homes -over a 10-yr period, & eventually prohibit such cos.-.