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Search resuls for: "Housing Coalition"


5 mentions found


☆ Developers aren't building enough affordable housing despite an unprecedented crisis. A top executive at $3.5 billion Nuveen explains the biggest hurdles, and how builders can tap into a steady source
  + stars: | 2022-10-26 | by ( Jennifer Streaks | ) www.businessinsider.com   time to read: +7 min
So why aren't developers building more affordable housing? And more recently, the Biden Administration's 2023 budget includes a proposal for $25 billion for Grants for Affordable Housing Production. "Nuveen so far has $3.5 billion in assets under management and has 120 actual affordable housing properties across the country in 25 states," West says about the company's affordable housing portfolio. "Inflation has a direct, immediate effect on the cost of building affordable housing. Research shows that the shortage of affordable housing costs the American economy about $2 trillion a year in lower wages and productivity.
☆ Imagine you just worked a 111-hour week. That's what many workers in 4 US cities would have to do to afford rent.
  + stars: | 2022-10-22 | by ( Jason Lalljee | ) www.businessinsider.com   time to read: +5 min
To afford a "fair market" one bedroom in NYC, minimum wage workers would need to put in 111 hours a week, a study found. They'd have to work even more to afford rent in Dallas, San Jose, or Chicago. When looking at affordability for minimum wage workers, the United Way researchers say that even a fair-market price is out of reach based on their current rate of pay. Instead of paying sky-high rent prices, minimum wage workers are cramming into tighter living arrangements, going homeless, or far exceeding the recommended portion of one's income they should spend on rent. Until this month, the minimum wage for New York home aides was $15 an hour, but got a bump to $17 an hour.
☆ Minimum wage workers in New York City need to clock over 100 hours a week to afford rent
  + stars: | 2022-10-17 | by ( Molly Schiff | ) www.cnbc.com   time to read: 1 min
In many major U.S. cities, minimum wage workers need to clock in over 50 hours each week just to be able to afford rent on a one-bedroom home, a recent survey conducted by United Way of the National Capital Area found. In New York City, minimum wage earners would need to work 111 hours to afford to rent a one-bedroom. United Way used data from the National Low Income Housing Coalition to calculate the number of hours a minimum wage worker would need to put in each week in order to afford rent in the 50 biggest U.S. cities. There are only two cities on the list where a worker earning minimum wage can afford to work less than 50 hours a week: Tucson, Arizona, and Buffalo, New York. Here's a look at how many hours a minimum wage worker needs to clock to afford a one-bedroom rental in the 10 largest U.S. cities, and the minimum wage in each respective city:
☆ Here's how much you need to earn to afford a 1-bedroom rental in every U.S. state
  + stars: | 2022-09-27 | by ( Molly Schiff | ) www.cnbc.com   time to read: +1 min
In the U.S., rent is becoming increasingly unaffordable, especially for those who prefer not to live with roommates. In New York City, for instance, the average cost of a 1-bedroom rental has increased 46.7% year over year. And New York isn't even the state where renters need to earn the most to afford a 1-bedroom rental. Depending on the state, the annual income needed to afford rent on a one-bedroom ranges from around $24,500 to around $64,600. Here's the minimum income you need to earn to afford a one-bedroom rental in all 50 states, as well as the actual median income renters earn in each place.
☆ Mississippi banned most abortions to be the 'safest state' for the unborn. Meanwhile, one in three Mississippi kids lives in poverty.
  + stars: | 2021-11-26 | by ( Sarah Fowler | ) www.businessinsider.com   time to read: +16 min
Mississippi lawmakers said the ban on most abortions after 15 weeks makes Mississippi 'the safest state in the country' for the unborn. "We've had so many state leaders who have talked about wanting Mississippi to be the safest state in the country for unborn babies. It's even higher for kids: one in three Mississippi children live in poverty. Each of the women has dedicated their life to helping Mississippi women and families. More than 100,000 Mississippi children should be eligible, but in 2019 – the most recent year for which there's data – just 20,900 benefited from the program.
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