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☆ Harvard researchers share 7 charts that show the struggles of buying and renting a home in America today, and their recommendations for solving them
  + stars: | 2023-06-22 | by ( William Edwards | ) www.businessinsider.com   time to read: +5 min
The Harvard Joint Center for Housing Studies released their State of The Nation's Housing report. Harvard Joint Center for Housing StudiesOn top of that, mortgage rates have surged from around 3.3% in early 2022 to just under 7% today. Harvard Joint Center for Housing StudiesBlame that in part on falling building rates. Harvard Joint Center for Housing Studies"The construction slowdown in 2022 raised concerns about the nation's large and ongoing housing shortfall. To boost homeownership rates among minority groups, the researchers also proposed lowering credit score minimums for mortgages and taking into consideration other indicators of creditworthiness that aren't reflected in a credit score.
Persons: it's, homeownership Organizations: Harvard Joint Center for Housing Studies, National Association of Realtors . Harvard Joint Center for Housing, Harvard Joint Center for Housing, Harvard, Center for Housing
☆ Meet the 'boommates': These two baby boomers live together to cut costs and build a relationship
  + stars: | 2023-03-01 | by ( Jordan Pandy | ) www.businessinsider.com   time to read: +5 min
Miller had an extra room in her home and thought why not find a roommate to help pay the mortgage. She called her local senior center, and they suggested she try Silvernest, a home-sharing platform founded in Colorado in 2015. According to Miller, Mears pays $650 on a month-to-month basis for her lodging and utilities. Longmont, Colorado, where Mears and Miller live, is located 40 miles north of Denver. After less than a week, Miller and Mears were eating dinner together regularly, taking turns cooking for each other.
☆ We read the Biden administration's proposal to protect renters from discrimination and unwarranted rent hikes. Here are the 3 biggest takeaways.
  + stars: | 2023-01-25 | by ( Robert Davis | ) www.businessinsider.com   time to read: +5 min
The Biden administration announced several new protections for renters on January 25. At the same time, the Federal Housing Finance Agency, an independent organization that helps regulate the mortgage market, will create new policies that encourage development of affordable-rental units. Insider reviewed the documents the White House released concerning the new initiatives. The idea comes as many renters continue to organize in order to combat what they see as unwarranted rent increases and evictions. Some home builders like Jerry Konter, the chairman of the National Association of Home Builders, disagreed with the new protections for renters.
☆ A non-profit that's poured $19 billion into affordable housing development shares how investors can see stable returns with this 'impactful investment opportunity'
  + stars: | 2022-11-04 | by ( Jennifer Streaks | ) www.businessinsider.com   time to read: +7 min
Despite the challenges in affordable housing development, Enterprise Community Partners has deployed $19 billion of housing equity into more than 2,600 developments, creating and preserving more than 184,000 affordable homes. The Columbia, Maryland-based non-profit continues to strive to show that affordable housing is an impactful investment. "Once the narrative is changed around affordable housing, it will be seen as the impactful investment opportunity that it is." "The Low-Income Housing Tax Credit is our most powerful tool for building and preserving affordable housing," Hoekman says. The Act seeks to expand and strengthen the Low-Income Housing Tax Credit by increasing housing credit allocations and maximizing affordable housing production and preservation.
☆ Why it's getting even harder to keep a roof over your head
  + stars: | 2022-09-22 | by ( Anna Bahney | Cnn Business | ) edition.cnn.com   time to read: +6 min
Americans are now spending more than 35% of their median income on monthly principal and interest payments for that newly purchased median-priced home. Historically, Americans spent closer to 25% of median income on payments. Instead, mortgage rates tend to track the yield on the 10-year US Treasury. As investors anticipate the Fed's rate hikes, they often sell government bonds, which sends the yield higher and, with it, mortgage rates. In May, the Biden administration announced a Housing Supply Action Plan to close the affordability gap and ease housing costs.
☆ U.S. rents surge, leaving behind generation of younger workers
  + stars: | 2022-09-21 | by ( Rose Horowitch | ) www.reuters.com   time to read: +6 min
REUTERS/Amr AlfikySept 21 (Reuters) - The cost of renting a home in the United States is surging and young workers have felt the sharpest pain, many of them taking on additional jobs or roommates to afford housing costs. Household rents in 2021 jumped 10% from pre-pandemic levels, according to Census Bureau estimates released last week. The 23-year-old spent a year in an apartment in New York City's Queens borough with a door that wouldn’t lock. Recent college graduate Caleb Seamon, 22, started delivering for Uber Eats alongside his full-time job at a think-tank to afford housing. Even so, Seamon says he only found a New York apartment because one of his roommate's parents acted as guarantors.
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