Affordable Housing
Renters are now the majority in more than 100 U.S. suburbs that were previously homeowner territory 10 years ago, according to an analysis of U.S. Census Bureau data by Yardi’s RentCafé. Another 57 suburbs are expected to follow suit in the next five years, with many of these suburbs belonging to the Miami, Washington, D.C., and Los Angeles metro areas.
For more than 50 years, Earth Day has been observed as a day of mobilization for environmental protection and preservation. This week, it is celebrated by ULI, environmental stewardship organizations, and other organizations working to enhance the built environment and implement solutions to make communities more green, healthy, and equitable.
A study by the U.S. Federal Reserve Bank of Philadelphia showed that tenants who lost jobs during the COVID-19 pandemic may have already amassed $11 billion in rental arrears. Procedures for evictions and foreclosures may be failing the most vulnerable tenants and landlords.
Housing Industry Finds Unexpected Strength in Certain Products in the Face of COVID-19 and Recession
Despite COVID-19 and the recession, the housing industry is seeing unexpected resilience in certain segments of the market, speakers said at the Housing Trends and Outlook session at the ULI Virtual Fall Meeting.
The ULI Terwilliger Center for Housing has created a Home Attainability Index, designed to support ULI district councils, local municipalities, and members of the development community who are working to address longstanding challenges related to home affordability. Attainable housing and income segregation remain major challenges for families and communities across the United States.
Public subsidies, persistence, and innovative design decisions helped create homes for some of the poorest residents of San Francisco.
At a ULI Austin event, speakers said that government, nonprofit, and business initiatives are tackling Austin’s homelessness predicament by, among other things, proposing temporary structures known as Sprung shelters and seeking to convert motels into longer-term housing.
At ULI South Carolina’s Capital Markets Conference, panelists outlined strategies that are leveraging the strengths of the private sector to create and preserve affordable housing in areas experiencing rapid growth.
According to U.S. Census Bureau estimates, the population of Washington, D.C., topped 700,000 residents last year, the first time since 1975. But the Metropolitan Washington Council of Governments estimates a shortfall of more than 200,000 housing units by 2025 to meet the projected job growth and transportation system performance in the urban core of the D.C. region. A ULI Washington Impact Task Force report addressed two main barriers to opportunities for supply growth and attainability: navigating the entitlement and approval processes, as well as gaining community acceptance through engagement and participation.
Public and private investment reclaimed the area’s cultural heritage. Increased tourism now challenges its authenticity.