The Growing Cost of Place: Why Workforce Housing Matters in AustinCivic Analytics LLC
Brian Kelsey's presentation at the 2010 Regional Forum on Workforce Housing in Austin, Texas, sponsored by the National Housing Conference and the National Association of REALTORS.
The document discusses the possibility of a national housing shortage in the United States in the coming years. It notes that while housing inventories are currently high due to the recession and foreclosures, population growth means the country needs around 1.6 million new housing units per year, but construction is currently only around 500,000-600,000 units annually. Several economists predict that demand for housing will outstrip supply by 2011, leading to rising home and rent prices. The shortage is already occurring in some high-growth areas, but low construction rates mean new development is not keeping up with demand nationally.
From South Fraser OnTrax’s debate on whether or not Smart Growth principles are needed in the South of the Fraser. More information at: http://www.southfraser.net/2012/02/smart-growth-debate-media.html
The document discusses implementing a Robin Hood tax on Wall Street to create jobs and rebuild the economy. It notes that over 12 million Americans are unemployed with little movement in 2012. A Robin Hood tax would raise hundreds of billions annually from a small tax on speculative financial trades to fund job creation programs. Several labor unions support a Robin Hood tax as a way to make Wall Street pay for the economic damage caused and help hard working Americans.
1) The document proposes a thought experiment about enacting a new Works Progress Administration (WPA) program that would employ 1 million people for 30 hours per week at $20 per hour to repair infrastructure for a total cost of $31.2 billion per year.
2) It estimates that this program would generate around $37.4 billion in additional economic activity through workers' local spending, as well as over $350 million in unemployment taxes.
3) After financing costs of $156 million and income taxes of around $203 million, the program could repay part of the $31.2 billion principal and help stimulate the economy by fixing infrastructure, providing jobs, and increasing local economic activity.
1. Michigan's economy needs to change and diversify to adapt to global structural changes by adding new sectors like clean energy, life science, defense, and advanced manufacturing.
2. In addition to diversifying, Michigan must also educate and upskill its workforce by doubling the number of college graduates and enrolling more workers in job training programs.
3. To steer the state economy into new areas of growth, Governor Granholm has recruited over 1,000 new companies through international business trips and investments in green industries like advanced batteries and solar/wind energy that are projected to create over 88,000 new jobs.
Housing: the Rich and the Rest - Art SitthiphapArtontheRoll
This document discusses the disparities between housing trends for the rich and rest in the US. It notes that sales of multimillion dollar homes are up 25% while overall housing prices have declined 30% since 2007. However, middle and working class families are facing increasing poverty, as evidenced by high foreclosure rates disproportionately affecting African Americans and Latinos. While foreclosure numbers are dropping slightly year-over-year, the housing crisis continues to negatively impact the non-wealthy.
The document discusses population decline and economic stagnation in upstate New York and its effect on political representation. It notes that the upstate population, especially among young people, decreased significantly between 1990-2000. Major upstate cities also saw population declines from 1950-2004. Fewer residents means less representation in Congress. Charts show private job and wage growth correlate with population growth. The document proposes retaining young people by increasing opportunities like jobs and small businesses. It suggests connecting students to employers, revitalizing cities, making housing affordable, and strengthening communities through civic engagement. A summit will address these issues to keep the next generation in the state.
The Growing Cost of Place: Why Workforce Housing Matters in AustinCivic Analytics LLC
Brian Kelsey's presentation at the 2010 Regional Forum on Workforce Housing in Austin, Texas, sponsored by the National Housing Conference and the National Association of REALTORS.
The document discusses the possibility of a national housing shortage in the United States in the coming years. It notes that while housing inventories are currently high due to the recession and foreclosures, population growth means the country needs around 1.6 million new housing units per year, but construction is currently only around 500,000-600,000 units annually. Several economists predict that demand for housing will outstrip supply by 2011, leading to rising home and rent prices. The shortage is already occurring in some high-growth areas, but low construction rates mean new development is not keeping up with demand nationally.
From South Fraser OnTrax’s debate on whether or not Smart Growth principles are needed in the South of the Fraser. More information at: http://www.southfraser.net/2012/02/smart-growth-debate-media.html
The document discusses implementing a Robin Hood tax on Wall Street to create jobs and rebuild the economy. It notes that over 12 million Americans are unemployed with little movement in 2012. A Robin Hood tax would raise hundreds of billions annually from a small tax on speculative financial trades to fund job creation programs. Several labor unions support a Robin Hood tax as a way to make Wall Street pay for the economic damage caused and help hard working Americans.
1) The document proposes a thought experiment about enacting a new Works Progress Administration (WPA) program that would employ 1 million people for 30 hours per week at $20 per hour to repair infrastructure for a total cost of $31.2 billion per year.
2) It estimates that this program would generate around $37.4 billion in additional economic activity through workers' local spending, as well as over $350 million in unemployment taxes.
3) After financing costs of $156 million and income taxes of around $203 million, the program could repay part of the $31.2 billion principal and help stimulate the economy by fixing infrastructure, providing jobs, and increasing local economic activity.
1. Michigan's economy needs to change and diversify to adapt to global structural changes by adding new sectors like clean energy, life science, defense, and advanced manufacturing.
2. In addition to diversifying, Michigan must also educate and upskill its workforce by doubling the number of college graduates and enrolling more workers in job training programs.
3. To steer the state economy into new areas of growth, Governor Granholm has recruited over 1,000 new companies through international business trips and investments in green industries like advanced batteries and solar/wind energy that are projected to create over 88,000 new jobs.
Housing: the Rich and the Rest - Art SitthiphapArtontheRoll
This document discusses the disparities between housing trends for the rich and rest in the US. It notes that sales of multimillion dollar homes are up 25% while overall housing prices have declined 30% since 2007. However, middle and working class families are facing increasing poverty, as evidenced by high foreclosure rates disproportionately affecting African Americans and Latinos. While foreclosure numbers are dropping slightly year-over-year, the housing crisis continues to negatively impact the non-wealthy.
The document discusses population decline and economic stagnation in upstate New York and its effect on political representation. It notes that the upstate population, especially among young people, decreased significantly between 1990-2000. Major upstate cities also saw population declines from 1950-2004. Fewer residents means less representation in Congress. Charts show private job and wage growth correlate with population growth. The document proposes retaining young people by increasing opportunities like jobs and small businesses. It suggests connecting students to employers, revitalizing cities, making housing affordable, and strengthening communities through civic engagement. A summit will address these issues to keep the next generation in the state.
This was a campaign launched several years ago. When the real estate market returns, NJ will once again be faced with the question, "Where will people live?" The state does not have enough land zoned for the construction of a variety of housing to meet the shelter needs of its people. More than 30% of NJ is preserved. Some 30% is developed and the remaining lands are hotly debated.
Austin: Navigating the “Great Reset” and Creating a More Sustainable EconomyCivic Analytics LLC
The document summarizes a presentation given in Austin, Texas about navigating the economic challenges of the "Great Reset" recession and creating a more sustainable economy. It provides data showing that while Austin experienced job and GDP growth in the 2000s, the recession had impacts from 2007-2009 including job losses and housing issues. However, Austin has rebounded well and was rated a top city, with continued job and population growth projected. It discusses ensuring future economic success and inclusion, and changing to address issues like income stagnation, workforce needs, and sustainable communities.
Kevin mc casky looking at current job growth in coloradoKevin_McCasky
Kevin McCasky has a vested interest in seeing both the local and state economies succeed, as well as see his community grow and prosper well into the future. From February 2011 to March 2016, Kevin McCasky served as the Chief Executive Officer and President of the Jefferson County Economic Development Corporation.
This document summarizes the declining supply of workforce housing in high-cost US cities and tools to enable its development and preservation. It discusses how middle-income neighborhoods have declined since the 1970s due to job losses and rising housing costs. While subsidies largely target low-income households, moderate-income households earning 60-120% of the area median income also struggle with high rents and home prices. This shortage of affordable workforce housing impacts teachers, police officers, nurses and other key professions that are vital to local communities. The document examines the challenges faced and potential solutions to preserve and increase the supply of housing for moderate-income families.
Roger Valdez, the director of Smart Growth Seattle, writes a letter to Governor Inslee thanking him for acknowledging the need to analyze the root causes of the lack of affordable housing in Washington state. Valdez agrees that issues around zoning, planning, permitting, development, and construction processes raise costs and barriers to producing both market-rate and subsidized housing. Valdez recommends commissioning an objective study to understand regulatory burdens that increase housing costs and compare costs of producing market-rate versus subsidized housing, in order to make recommendations to reduce costs for all housing production.
(1) The document discusses the relationship between business, economic functions, and society. It argues that business transactions should be done fairly to benefit all parties and reduce contention. When businesses charge significantly more than their costs, it is unfair to consumers.
(2) Over time, the relationship between business and society has evolved to be more symbiotic and fair. With shareholders invested in companies, both businesses and consumers are dependent on each other for survival.
(3) The document concludes that for businesses to thrive, they must operate for the good of the community, as business and society are inseparable and interdependent. Success depends on a respectful relationship between these entities.
City(10) (Exponential City) - a presentation at the Singularity University Gl...Gary A. Bolles
The document discusses what would be needed to create exponential cities. It suggests that information and awareness, engaged citizens, continuous equitable distribution of resources, and long and short-term planning would be key. Exponential cities could help address many of the problems cities currently face, such as carbon emissions, homelessness, inequality, and aging infrastructure. Creating the conditions for exponential growth will require bringing together a coalition of public and private partners to implement solutions.
Austin: A Theory of Everything. How & why Austin is changing and what we shou...Civic Analytics LLC
This document summarizes statistics about Austin's population growth, job growth, and economic performance since 2000. It finds that Austin ranked highly in population growth and job growth nationally and experienced strong GDP growth above the national average. However, it notes that Austin is not creating enough "middle-wage" jobs and that housing costs have risen faster than earnings for lower-educated workers, threatening affordability. The rising costs and income inequality contribute to residential segregation by race/ethnicity.
Houston’s Energy Angst - Yardi Matrix Multifamily Winter 2016 ReportAdelina Osan
Rent growth in Houston has decelerated as the city's energy-driven economy has been impacted by low oil prices. While the economy has diversified, the drop in crude oil prices has slowed job and population growth and dampened the apartment market. Rent growth was 3.5% year-over-year in Houston compared to 6.2% nationally, and rents have declined on a trailing three-month basis. The outlook for multifamily fundamentals is uncertain due to slowing rent growth and a large amount of new supply in the pipeline that could pressure rents further, although rent growth is still forecast at 4.7% for 2016. The investment market in Houston is also beginning to sour as deal flow and pricing start
The document summarizes economic trends in Austin from 2003-2013 that contributed to its strong growth and prosperity. It notes that Austin experienced the second highest GDP growth and top job growth among large US metro areas during this period. However, it warns that success can breed complacency and that challenges remain around income stagnation, education inequality, and housing affordability. The document calls for big ideas to address these issues, such as setting goals for a majority of residents to obtain a postsecondary degree and using opportunities like the new medical school to promote broad-based wealth creation and inclusion.
Westfield, MA 01077 NEIGHBORHOOD REPORT May 2017Lesley Lambert
Get the current housing statistics, sales history, population information, economic statistics. quality of life and more on the City of Westfield, MA 01085
www.westernmahomes.net
#westfield #westernma #westernmass #realestate
Westfield, MA 01085 Real Estate Market Report January / February 2017Lesley Lambert
The document provides a real estate market report for Westfield, MA for January/February 2017. It includes data on median home sales prices, housing inventory, and demographic information for the area. Charts show trends in home values, sales, listings, and other housing and economic data for the neighborhood. The report also provides details on 20 newly listed properties on the market.
The Austin economy has grown rapidly in recent years, adding 50,000 people annually since 2007. Austin experienced strong population and economic growth between 2000 and 2010, gaining 188,000 residents from other metro areas. Austin's GDP grew 48% between 2001 and 2010, the second fastest growth rate among large metro areas. However, while Austin has many high-income households and jobs, it faces a challenge in ensuring residents have education and training to fill those jobs.
Spring 2010 Housing Briefing
The Washington Area Economic Performance and Outlook
by
John McClain, AICP, Senior Fellow and Deputy Director, Center for Regional AnalysisSchool of Public Policy, George Mason University
Southwick, MA 01077 - NEIGHBORHOOD REPORT - May 2017Lesley Lambert
Get the current housing statistics, sales history, population information, economic statistics. quality of life and more on the town of Southwick, MA 01077
www.westernmahomes.net
#southwick #westernma #westernmass #realestate
Neighborhood Real Estate Report by Michael Mahoney RealtorMichael Mahoney
Here is the most recent real estate market report on homes in Norwood MA from Michael Mahoney - Realtor
http://www.realtormikemahoney.com/idx/?idx-q-Locations=Norwood
Tami Luhby presents "Finding Local Jobs Stories in BLS Data," a free, one-hour webinar hosted by the Donald W. Reynolds National Center for Business Journalism.
For more information about free training for journalists, please visit businessjournalism.org.
If you needed more convincing that Austin truly is the best city in America, flip through this 38-page book and discover for yourself. Ranked number one in "Best Places to Live in the U.S." by U.S. News and "Best Tech Cities in the World" by Savills Studley (among many other accolades), Austin continues to top the charts year after year.
With large images, tables, rankings, stats and more, this book provides a comprehensive look into what makes Austin so great!
Greater Rochester, NY offers a variety of benefits including affordable housing, arts and entertainment, and proximity to lakes and mountains. Rochester has a population of 1.1 million and is home to colleges, parks, and cultural organizations. Housing is more affordable than the national average, with the median home value nearly half the US median. Rochester also has a diverse economy and is recognized for its quality of life.
Close enough to Downtown to be cool by association, East Downtown's grittier character sets it apart from its neighbor's highly trafficked path. Worn-in hole-in-the-wall bars, casual dives, and mural adorned bodegas lend East Downtown a weathered, artistic edge. Set its nonconformist values against the serene backdrop of Lady Bird Lake, and it becomes clear why many venture out to this East Austin neighborhood.
This was a campaign launched several years ago. When the real estate market returns, NJ will once again be faced with the question, "Where will people live?" The state does not have enough land zoned for the construction of a variety of housing to meet the shelter needs of its people. More than 30% of NJ is preserved. Some 30% is developed and the remaining lands are hotly debated.
Austin: Navigating the “Great Reset” and Creating a More Sustainable EconomyCivic Analytics LLC
The document summarizes a presentation given in Austin, Texas about navigating the economic challenges of the "Great Reset" recession and creating a more sustainable economy. It provides data showing that while Austin experienced job and GDP growth in the 2000s, the recession had impacts from 2007-2009 including job losses and housing issues. However, Austin has rebounded well and was rated a top city, with continued job and population growth projected. It discusses ensuring future economic success and inclusion, and changing to address issues like income stagnation, workforce needs, and sustainable communities.
Kevin mc casky looking at current job growth in coloradoKevin_McCasky
Kevin McCasky has a vested interest in seeing both the local and state economies succeed, as well as see his community grow and prosper well into the future. From February 2011 to March 2016, Kevin McCasky served as the Chief Executive Officer and President of the Jefferson County Economic Development Corporation.
This document summarizes the declining supply of workforce housing in high-cost US cities and tools to enable its development and preservation. It discusses how middle-income neighborhoods have declined since the 1970s due to job losses and rising housing costs. While subsidies largely target low-income households, moderate-income households earning 60-120% of the area median income also struggle with high rents and home prices. This shortage of affordable workforce housing impacts teachers, police officers, nurses and other key professions that are vital to local communities. The document examines the challenges faced and potential solutions to preserve and increase the supply of housing for moderate-income families.
Roger Valdez, the director of Smart Growth Seattle, writes a letter to Governor Inslee thanking him for acknowledging the need to analyze the root causes of the lack of affordable housing in Washington state. Valdez agrees that issues around zoning, planning, permitting, development, and construction processes raise costs and barriers to producing both market-rate and subsidized housing. Valdez recommends commissioning an objective study to understand regulatory burdens that increase housing costs and compare costs of producing market-rate versus subsidized housing, in order to make recommendations to reduce costs for all housing production.
(1) The document discusses the relationship between business, economic functions, and society. It argues that business transactions should be done fairly to benefit all parties and reduce contention. When businesses charge significantly more than their costs, it is unfair to consumers.
(2) Over time, the relationship between business and society has evolved to be more symbiotic and fair. With shareholders invested in companies, both businesses and consumers are dependent on each other for survival.
(3) The document concludes that for businesses to thrive, they must operate for the good of the community, as business and society are inseparable and interdependent. Success depends on a respectful relationship between these entities.
City(10) (Exponential City) - a presentation at the Singularity University Gl...Gary A. Bolles
The document discusses what would be needed to create exponential cities. It suggests that information and awareness, engaged citizens, continuous equitable distribution of resources, and long and short-term planning would be key. Exponential cities could help address many of the problems cities currently face, such as carbon emissions, homelessness, inequality, and aging infrastructure. Creating the conditions for exponential growth will require bringing together a coalition of public and private partners to implement solutions.
Austin: A Theory of Everything. How & why Austin is changing and what we shou...Civic Analytics LLC
This document summarizes statistics about Austin's population growth, job growth, and economic performance since 2000. It finds that Austin ranked highly in population growth and job growth nationally and experienced strong GDP growth above the national average. However, it notes that Austin is not creating enough "middle-wage" jobs and that housing costs have risen faster than earnings for lower-educated workers, threatening affordability. The rising costs and income inequality contribute to residential segregation by race/ethnicity.
Houston’s Energy Angst - Yardi Matrix Multifamily Winter 2016 ReportAdelina Osan
Rent growth in Houston has decelerated as the city's energy-driven economy has been impacted by low oil prices. While the economy has diversified, the drop in crude oil prices has slowed job and population growth and dampened the apartment market. Rent growth was 3.5% year-over-year in Houston compared to 6.2% nationally, and rents have declined on a trailing three-month basis. The outlook for multifamily fundamentals is uncertain due to slowing rent growth and a large amount of new supply in the pipeline that could pressure rents further, although rent growth is still forecast at 4.7% for 2016. The investment market in Houston is also beginning to sour as deal flow and pricing start
The document summarizes economic trends in Austin from 2003-2013 that contributed to its strong growth and prosperity. It notes that Austin experienced the second highest GDP growth and top job growth among large US metro areas during this period. However, it warns that success can breed complacency and that challenges remain around income stagnation, education inequality, and housing affordability. The document calls for big ideas to address these issues, such as setting goals for a majority of residents to obtain a postsecondary degree and using opportunities like the new medical school to promote broad-based wealth creation and inclusion.
Westfield, MA 01077 NEIGHBORHOOD REPORT May 2017Lesley Lambert
Get the current housing statistics, sales history, population information, economic statistics. quality of life and more on the City of Westfield, MA 01085
www.westernmahomes.net
#westfield #westernma #westernmass #realestate
Westfield, MA 01085 Real Estate Market Report January / February 2017Lesley Lambert
The document provides a real estate market report for Westfield, MA for January/February 2017. It includes data on median home sales prices, housing inventory, and demographic information for the area. Charts show trends in home values, sales, listings, and other housing and economic data for the neighborhood. The report also provides details on 20 newly listed properties on the market.
The Austin economy has grown rapidly in recent years, adding 50,000 people annually since 2007. Austin experienced strong population and economic growth between 2000 and 2010, gaining 188,000 residents from other metro areas. Austin's GDP grew 48% between 2001 and 2010, the second fastest growth rate among large metro areas. However, while Austin has many high-income households and jobs, it faces a challenge in ensuring residents have education and training to fill those jobs.
Spring 2010 Housing Briefing
The Washington Area Economic Performance and Outlook
by
John McClain, AICP, Senior Fellow and Deputy Director, Center for Regional AnalysisSchool of Public Policy, George Mason University
Southwick, MA 01077 - NEIGHBORHOOD REPORT - May 2017Lesley Lambert
Get the current housing statistics, sales history, population information, economic statistics. quality of life and more on the town of Southwick, MA 01077
www.westernmahomes.net
#southwick #westernma #westernmass #realestate
Neighborhood Real Estate Report by Michael Mahoney RealtorMichael Mahoney
Here is the most recent real estate market report on homes in Norwood MA from Michael Mahoney - Realtor
http://www.realtormikemahoney.com/idx/?idx-q-Locations=Norwood
Tami Luhby presents "Finding Local Jobs Stories in BLS Data," a free, one-hour webinar hosted by the Donald W. Reynolds National Center for Business Journalism.
For more information about free training for journalists, please visit businessjournalism.org.
If you needed more convincing that Austin truly is the best city in America, flip through this 38-page book and discover for yourself. Ranked number one in "Best Places to Live in the U.S." by U.S. News and "Best Tech Cities in the World" by Savills Studley (among many other accolades), Austin continues to top the charts year after year.
With large images, tables, rankings, stats and more, this book provides a comprehensive look into what makes Austin so great!
Greater Rochester, NY offers a variety of benefits including affordable housing, arts and entertainment, and proximity to lakes and mountains. Rochester has a population of 1.1 million and is home to colleges, parks, and cultural organizations. Housing is more affordable than the national average, with the median home value nearly half the US median. Rochester also has a diverse economy and is recognized for its quality of life.
Close enough to Downtown to be cool by association, East Downtown's grittier character sets it apart from its neighbor's highly trafficked path. Worn-in hole-in-the-wall bars, casual dives, and mural adorned bodegas lend East Downtown a weathered, artistic edge. Set its nonconformist values against the serene backdrop of Lady Bird Lake, and it becomes clear why many venture out to this East Austin neighborhood.
This document discusses how demographic trends and workforce shortages in the US are connected to immigration. It notes that the US population is aging and fertility rates are below replacement levels, so future workforce growth will rely on immigration. Several industries like manufacturing, healthcare, and restaurants already face labor shortages. It also discusses border security challenges and how an overly restrictive approach can negatively impact the economy through delays and reduced travel and trade. Overall it argues for an immigration system that balances security with facilitation of legal movement to meet labor demands.
This document summarizes a presentation given by Stephen Fuller on the economic outlook for the Washington D.C. metro area. It includes data on job growth, unemployment rates, and housing market trends for the region. Charts show that while the area lost over 79,000 jobs from 2007-2009, it has since gained over 41,000 jobs. The unemployment rate has fallen but still exceeds the national rate. Housing sales are rising from lows in 2009-2010, but average prices remain lower than peak levels. The economic forecast predicts continued growth in the region outpacing national GDP growth through 2015, driven primarily by Northern Virginia.
This document provides information about Houston's economy and growth potential. It notes that if Houston were a state, it would rank highly in several economic measures like land area, population, jobs, and GDP. The document outlines Houston's major industries like energy, aerospace, health care, and logistics. It presents data showing Houston's recovery from the recession, with indicators like job growth, home sales, and manufacturing returning to pre-recession levels. The conclusion discusses Houston's strong economic fundamentals and predicts continued growth, though at a slower pace than during the peak years of 2007-2008.
Miracle or Myth: The Real Story of Job Creation & Economic Recovery in TexasCivic Analytics LLC
The document summarizes a presentation on evaluating the performance of the Texas economy and job growth. It discusses arguments for and against the idea of a "Texas Miracle" of economic growth. While Texas has led the nation in job creation, it ranks only 35th in jobs per capita. The presentation examines employment and population trends in depth and calls for more investment in developing workforce skills and regional economic development.
Annual Press Conference - George Mason University's Center for Regional Analy...NVAR .com
Presentation by John McClain from the GMU Center for Regional Analysis at the Annual Press Conference - held at the National Press Club in Washington DC on December 15, 2009.
This document summarizes several studies that investigate the black-white male earnings gap in the United States. It finds that differences in human capital, such as education and experience, explain a significant portion of the earnings gap but not all, suggesting labor market discrimination still exists. The gap narrowed between 2000 and 2010, with human capital explaining more of the difference and discrimination playing a smaller role over time.
The University of Portland offers an Employee Home Grant Program to positively reinforce their commitment to environmental sustainability and build an affordable community for faculty and staff. The program provides grants of $10,000-$15,000 to around 450 eligible full-time employees to purchase a home near campus and commit to alternative transportation. The goals are to recruit and retain employees, improve local livability and involvement, and decrease commuting to meet clean air mandates. The program has seen success, with over $1 million invested and 127 active or fully forgiven grants so far.
The Hometown Home Loan Program was created in 1994 as a partnership between HomeStreet Bank and several employers and municipalities to help employees purchase homes. The program provides no-cost homeownership education, counseling and flexible loan programs with down payment assistance to address barriers to homeownership like affordability and lack of knowledge. Since inception, the program has helped over 9,000 homeowners with $11.8 million in closing cost savings and $17.2 million in down payment assistance. Employer-assisted housing programs benefit employers through improved recruitment and retention as well as communities by increasing affordable housing options.
This document discusses challenges and innovations in self-help housing in the Pacific Northwest. It outlines that as of June 2011, 45 organizations had delivered over 2,300 homes worth $35.1 million through a self-help housing delivery system across Oregon, Washington, Idaho, and Montana. Key challenges mentioned include lower appraisals, buyer reluctance, and tighter credit. Innovations highlighted include the Lopez CLT, a land trust and housing co-op that aims for zero-net energy homes and won national awards, Next Step which promotes well-designed manufactured housing, and Hayden Canyon, a development with 1800 new homes where the developer committed 10% of units to workforce housing through a community land trust.
The document discusses the importance of workforce housing and an approach to addressing the issue. It notes that urbanization is increasing the need for affordable housing as cities grow. It also describes an organization called OneBuild that aims to impact the workforce housing issue through an integrated construction delivery system designed to increase efficiency and customize housing designs to reduce costs. The goal is to make housing more affordable through this approach.
The Portland Housing Center runs an Employer Assisted Homeownership Program that works with employers to help their employees purchase homes. The program benefits employers by increasing productivity, reducing costs, and improving community relations and employee morale. It offers employees homebuying counseling, financial education classes, down payment assistance, and other services. After 3 years, the program has 7 participating employers, helped 130 households, and resulted in 79 households purchasing homes. The program aims to expand its services, employer partnerships, and grant opportunities for employees.
The Hometown Home Loan Program was created in 1994 as a partnership between HomeStreet Bank and several employers and municipalities to help employees purchase homes. The program provides no-cost homeownership education, counseling and flexible loan programs with down payment assistance to address barriers to homeownership like affordability and lack of knowledge. Since inception, the program has helped over 9,000 homeowners with $11.8 million in closing cost savings and $17.2 million in down payment assistance. Employer-assisted housing programs benefit employers through improved recruitment and retention as well as communities by increasing affordable housing options.
Proud Ground provides permanently affordable homeownership through legal agreements that ensure homes can be resold at affordable prices, maintaining affordability over time. When a homeowner decides to sell, a resale formula allows them to receive a fair return on investment while keeping the home priced for low and moderate income buyers. Proud Ground homes operate like traditional homeownership with mortgages, equity accumulation, and tax benefits, but have much lower purchase prices in exchange for restricted resale values. The organization works with brokers and employers to promote the program.
City First Homes provides permanently affordable homes to buyers earning up to 120% AMI through a shared appreciation model. It offers down payment assistance loans of $75,000 at a fixed 3.79% interest rate over 40 years, with interest-only payments for the first 7 years. When homeowners sell, they keep 100% of paid principal and improvements as well as 25% of home appreciation, with little to no selling fees. Since 2010, City First Homes has sold 33 units and proven successful in urban areas, though introducing shared appreciation and scaling up remain ongoing challenges. It offers 6 key benefits including lower monthly costs, reduced upfront costs, qualifying for larger homes, and the ability to build wealth through equity and tax benefits
The Community Reinvestment Project (CORE) aims to convert government-owned properties into affordable housing for essential workers like first responders and teachers. CORE seeks to provide affordable housing, generate revenue for local governments, and streamline the process of selling properties to revitalize communities. The project framework was created by PAR, which brings in strategic partners while local associations handle public outreach. Current projects include a pilot with Philadelphia and partnerships in Reading to list additional properties through realtor support. Challenges include slow progress, but successes include strengthened partnerships.
The document discusses workforce housing plans and policies for Tysons Corner, Fairfax County, Virginia. It outlines requirements for developers to include affordable housing units to receive bonus densities, with targets of 20% affordable units within a quarter mile of metro stations and 16% inclusive of bonuses beyond a quarter mile. Income tiers for affordable units range from below 50% to 120% of area median income. The plans provide flexibility and encourage creative strategies to meet housing needs. Non-residential developments must contribute funds towards affordable housing. Panelists at a workforce housing summit discussed benefits to employers and strategies for viable development pro formas.
This document summarizes the campaign to defeat ballot question 2 in Massachusetts, which would have changed the state's affordable housing law (Chapter 40B). It describes the campaign's structure, messaging strategies, grassroots outreach, and communications efforts. Through a diverse coalition, public polling, and tailored messaging, the "No on 2" campaign was able to defeat the ballot measure 58% to 42% and maintain the existing affordable housing law.
The New Jersey Association of REALTORS® Housing Opportunity Foundation (NJARHOF) is a 501(c)(3) organization that fosters opportunities for affordable housing in New Jersey. It provides funding to other non-profits that offer programs like homebuyer education and counseling. NJARHOF's "Helping Hands Towards Homeownership" initiative aims to educate potential homebuyers and realtors about available housing resources, such as financial literacy workshops, homebuyer counseling, and tax benefit classes. The organization also publishes a Housing Opportunity Resource Guide listing state and federal housing assistance programs.
The document discusses the Long Island Housing Partnership's (LIHP) employer-assisted housing program. It summarizes how the program works to provide down payment assistance grants to employees through employer matching contributions combined with other state and federal funds administered by LIHP. Employers benefit by retaining and recruiting employees through improved affordability and employee satisfaction. LIHP guides both employers and employees through the process, from establishing an employer program to homebuying counseling and coordination of funds. The program has helped over 330 employees of over 130 employers purchase homes through more than $12 million in grants.
The document summarizes a regional forum on workforce housing and discusses the community land trust (CLT) model. It provides statistics on CLTs in the US, including $220 million in assets and supporting 1,500 apartments. The Champlain Housing Trust in Vermont is highlighted as an example, having 500 homes in a shared equity program. It discusses the CLT maintaining affordable housing and preventing foreclosures more successfully than traditional models.
The Philadelphia Home • Buy • Now program provides matching grants of up to $4,000 for home purchases in Philadelphia. The program aims to help employers recruit, retain, and reward employees by providing housing benefits to help them become homeowners. No income limits or geographic restrictions apply. The funds can be used for closing costs, down payments, prepaid interest, or mortgage insurance. Between 2004-2009, the program assisted 211 home purchases with $74,000 in median household income and $134,000 in median home cost.
The document discusses sustainable housing goals and strategies for the Metro Boston region. It aims to promote more equitable and affordable housing options, increase production of smaller and transit-accessible units, and prevent displacement. Key strategies include developing regional and local housing plans, increasing affordable housing production, diversifying the housing supply and connecting residents to opportunities. The plan also involves assessing current and future housing needs, targets for production amounts and types, and identifying actions to ensure future needs are met.
This document discusses a study examining the growing costs of housing and transportation for working families in Boston and the surrounding region. The study looks at the heavy financial burden of housing and transportation costs on area residents, how it impacts their neighborhoods, and its effects on the environment. The document was written by Jeffrey Lubell, Executive Director of the Center for Housing Policy, and provides his contact information.
This document summarizes the Morgan Woods affordable housing development project on Martha's Vineyard. Some key points:
1) Morgan Woods created 60 affordable housing units, nearly doubling the island's inventory, to house year-round residents who provide essential services but can no longer afford to live there.
2) The development overcame many logistical challenges to transport modular units by barge and complete construction efficiently. Thoughtful design has created a family-friendly community environment.
3) The success of Morgan Woods has helped the developer, The Community Builders, build a strong reputation on the Cape and Islands and take on additional affordable housing projects.
The document discusses housing affordability in the context of the recent housing crisis. It makes three key points:
1) While falling home prices have led to record housing affordability levels, most households entered the downturn already facing high housing costs and few can take advantage of lower prices.
2) Measures of housing affordability and burden show that affordability has only improved to early 2000 levels and many households, especially low- and moderate-income, still face high housing costs.
3) The housing affordability problem is particularly acute in Massachusetts compared to other markets. Most households cannot benefit from lower home prices due to existing high housing cost burdens.
The STAR Community Index is a framework developed by ICLEI-USA to help local governments measure and advance sustainability across the three pillars of environmental, economic and social equity. It provides a standardized rating system for communities to track their performance, identify areas for improvement, and foster competition and innovation around sustainability goals. The STAR Community Index was built with input from over 160 volunteers and has engaged 10 pilot communities to test its tools and online platform.
More from National Housing Conference & the Center for Housing Policy (20)
1. The Growing Cost of Place: Why Workforce Housing Matters in Austin Presenter: Brian Kelsey 2010 Regional Forum on Workforce Housing August 12, 2010 Austin, TX
4. Income/wage stagnation Source: U.S. Bureau of Economic Analysis, EMSI 68% of jobs gained in Austin-Round Rock-San Marcos during 2002-2009 paid median wages below the overall median wage for the region ($18.27/hr). Comparable figure for the U.S. was 57% ($17.94/hr).
5. Housing: Live, work, and play? Median multiple is the ratio of median residential sales price (YTD 2010) to median annual wage by zip code. Source: EMSI, Decision Data Resources, Austin Board of REALTORS