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Corporate buyers are snapping up residential properties in Massachusetts and pushing out long-time residents, according to a report by the news outlet 25 Investigates. These investment companies form a complex network, making it nearly impossible for individuals and towns to hold them accountable.
Continue reading “We All Deserve a Home, But Corporations Outbid Some of Our Friends.”
Florida is a snowbird’s paradise. It’s no surprise that condos make up a major portion of the market.
Recently, though, Florida condos are presenting specific challenges. They’re getting hard to finance. Home buyers in Florida can expect to put at least 25% down. For coastal homes, which lenders consider risky, the expected down payment can be significantly higher.
Needless to say, this is putting off buyers. And it’s putting a damper on the Sunshine State’s housing market. Plenty of Floridians want to sell, while the pool of interested buyers is shrinking. So condo prices have come down from their highs. Miami homes are 3% cheaper (at $385K). And in Jacksonville, prices have dipped 7% (to $254K).
Anyone thinking about acquiring or transferring a Florida deed needs a clear understanding of its value. So let’s look more closely at the Florida market today.
Continue reading “Condo Bubble? What’s Going On in Florida Now?”
Housing affordability remains out of reach for many in the U.S. population today. What’s the matter?
Joe Biden’s March 2024 State of the Union address laid out the latest plan to help. Here’s an update on the issue, and how the administration intends to deal with it.
Continue reading “State of the Home Buyer: White House Promotes New Set of Tax Credits”
The commissioners of Costa Mesa, California have agreed to a new affordable housing law.
The city of Irvine, also in Orange County, passed one more than two decades ago. And nearby Santa Ana is a serious supporter of affordability.
Now, Costa Mesa is trying to follow suit. Friction is inevitable. Regulating for affordability means pitting fair housing advocates against developers who aren’t fans of local rules and restrictions.
Who will win out?
Continue reading “Affordability Update: Costa Mesa’s Epic Struggle”
Tens of millions of U.S. residents have a problem. There aren’t enough homes for the elderly and disabled population. One in four of us — more than 60 million people — have a disability. And our older adult population is rapidly growing.
As a general matter, the United States needs something between 3 million and 6 million homes, according to Republican Senator Mike Braun of Indiana, who sits on the Senate’s aging committee. Bob Casey, the U.S. Senator and former governor of Pennsylvania, notes how disabled home seekers are doubly disadvantaged in this market. They need homes they can afford and homes they can navigate safely, despite their disabilities.
Casey, who chairs the Senate Special Committee on Aging, recently proposed a federal bill. It would require the Low-Income Housing Tax Credit Program to fund homes with accessibility features.
Will Casey’s proposal get support? Will other laws be proposed? We’ll have to see. We’re certainly expecting a heightened interest in this issue nationwide.
Continue reading “Locked Out: Less Than 5% of U.S. Housing Is Accessible to Older, Disabled Residents”