brycecovert + housing   114

OUT REACH of THE HIGH COST OF HOUSING [2018]
A full-time worker earning the federal minimum wage of $7.25 needs to work
approximately 122 hours per week for all 52 weeks of the year, or approximately
three full-time jobs, to afford a two-bedroom rental home at the national average
fair market rent. The same worker needs to work 99 hours per week for all 52
weeks of the year, or approximately two and a half full-time jobs, to afford a onebedroom
home at the national average fair market rent.

In no state, metropolitan area, or county can a worker earning the federal
minimum wage or prevailing state minimum wage afford a two-bedroom rental
home at fair market rent by working a standard 40-hour week. In only 22
counties out of more than 3,000 counties nationwide can a full-time minimumwage
worker afford a one-bedroom rental home at fair market rent
housing  minimumwage 
2 days ago by brycecovert
See how much rent for low-income housing could go up
In Sacramento, Stockton and across the state, the rent is going to increase 14 percent or more per month.
housing 
8 days ago by brycecovert
HUD Drops Obama-Era Tool Aimed at Enforcing Fair Housing Law - WSJ
officials said too many communities were failing the assessments.
regulation  housing 
4 weeks ago by brycecovert
How The World Has Changed Since 2008 Financial Crisis
America’s mortgage crisis created a glut of foreclosed homes for sale. Big investors like the Blackstone Group swooped in to buy and rent them out, creating a new class of American renters.
housing  finance 
11 weeks ago by brycecovert
The Gap | National Low Income Housing Coalition
Extremely low income households face a shortage in every state and major metropolitan area, including the District of Columbia. Among states, the supply of affordable and available rental homes ranges from only 15 for every 100 extremely low income renter households in Nevada to 59 for every 100 extremely low income renter households in Maine.
housing 
march 2018 by brycecovert
Despite California’s immense wealth, the middle class is in decline – The Mercury News
Kotkin said California families used to pay three times their income for a home in 1970. Sometime over the next decade, it changed and now that figure has jumped to as high as 10 times.
housing 
march 2018 by brycecovert
California Needs a Housing-First Agenda: My 2018 Housing Package
After a half century of bad housing policy—policy designed to make it incredibly hard and expensive to create housing—we began the long process of righting the ship and recognizing that housing must be a top priority.
housing 
march 2018 by brycecovert
Landlords, Your Lease Is Up: A New Movement for Rent Control Is Spreading Across the U.S. - In These Times
In the 40 years preceding the Great Recession, rents grew twice as fast as incomes. Then came the 2008 housing crash, in which more than 10 million families lost their homes to foreclosure. Less than one-third are likely to buy again, thanks to wrecked finances and credit scores. As a result, more U.S. households are renting now than at any point in at least the past 50 years.
housing 
march 2018 by brycecovert
American Economic Association
federal expansions of unemployment insurance benefits averted more than 1.3 million foreclosures between 2008 and 2013. Providing that extra cash to the unemployed was more effective than other federal programs specifically designed during that time to help struggling homeowners avoid default.
unemployment  housing 
february 2018 by brycecovert
Tax Overhaul Is a Blow to Affordable Housing Efforts - The New York Times
According to an analysis by his firm, the new tax law will reduce the growth of subsidized affordable housing by 235,000 units over the next decade, compounding an existing shortage.
housing 
january 2018 by brycecovert
Foreclosure migration and neighborhood outcomes: Moving toward segregation and disadvantage
foreclosure was linked to migration to less white and more residentially disadvantaged neighborhoods, with foreclosed Hispanic householders, in particular, tending to move to poorer and more racially isolated neighborhoods.
housing  race  segregation 
december 2017 by brycecovert
Mortgage Interest Deductions and Homeownership: An International Survey by Steven Bourassa, Donald R. Haurin, Patric H. Hendershott, Martin Hoesli :: SSRN
The empirical evidence suggests that, contrary to popular wisdom, the MID generally does not increase the ownership rate.
housing 
november 2017 by brycecovert
Collective Action, White Flight, and the Origins of Formal Segregation Laws
cities had created and sustained residential segregation through private norms and vigilante activity. Only when these private arrangements began to break down during the early 1900s did whites start lobbying municipal governments for segregation ordinances.
housing  race 
august 2017 by brycecovert
Do People Respond to the Mortage Interest Deduction? Quasi-Experimental Evidence from Denmark
the mortgage interest deduction distorts the behavior of homeowners at the intensive margin, but is ineffective at promoting homeownership at the extensive margin and any externalities that may be associated with it
housing 
july 2017 by brycecovert
[no title]
Seventeen percent of workers have a schedule that
varies based on their employer’s needs, and just
over half of those with a varying work schedule
are usually assigned their schedule three days in
advance or less.
less-educated workers and
those working in the retail/wholesale trade industries,
food services, or entertainment industries are disproportionately
likely to have variable schedules based
on their employer’s needs. Workers with a high
school degree or less are more than twice as likely to
have an employer who varies their schedule (24 percent)
as workers with at least a bachelor’s degree
(11 percent). Similarly, 30 percent of wholesale or
retail workers and 35 percent of food services or
entertainment workers have variable schedules,
which is well above the rate observed for the population
as a whole.

Just under one-fourth of adults are not able to pay
all of their current month’s bills in full.

Twenty-six percent of all adults and 54 percent of
non-Hispanic black adults are either unbanked or
underbanked.

Nine percent of renters who moved in the previous
two years did so because they were evicted or faced
the threat of eviction.
12 percent of black renters
and 16 percent of Hispanic renters who moved in the
previous two years indicating that they moved for
these reasons [eviction or threat of it]

Non-Hispanic white adults with a high school
degree or less are somewhat less likely than those
of other races and ethnicities or those with more
education to report that their financial well-being
improved in 2016.

6 percent had no income at all
scheduling  wages  economy  unbanked  housing  workingclass 
may 2017 by brycecovert
How Homeownership Became the Engine of American Inequality - The New York Times
President Barack Obama’s 2017 budget proposal estimated that it would take $1 billion a year over the next 10 years to eliminate family homelessness in America — not decrease it or slice it in half, but end it. That’s less than 1 percent of what we currently spend on homeowner subsidies. And yet a bill designed to provide every child in America with a home was pronounced dead on arrival in Congress.
newsletter  housing  taxes 
may 2017 by brycecovert
Around Massachusetts, racial divides persist - The Boston Globe
In 86 of the state’s 351 cities and towns, not a single loan was made to a black or Latino home buyer.
redlining  race  housing 
april 2017 by brycecovert
Teachers, Police Priced Out of America’s Big Metro Areas - WSJ
In all, teachers can afford less than 20% of the homes for sale in 11 of the 93 major U.S. metro areas studied.
housing 
april 2017 by brycecovert
Rent Affordability Declining for Blacks and Hispanics | Fortune.com
In 2016, it took about 44% of income to make rent in predominantly black communities, up from 40% five years earlier, according to a report by Zillow released Thursday. In Hispanic communities, about 48% of income goes to the monthly rent check, up from 41% in 2011.
rent  redlining  race  housing 
march 2017 by brycecovert
The Austerity of the Obama Years | Dissent Magazine
negative equity was a solid predictor of Midwestern counties that flipped to Trump.
trump  housing 
january 2017 by brycecovert
Federal Programs for Addressing Low-Income Housing Needs
the median length
of stay in public housing is only 4.7 years, and the
median voucher household receives assistance for
3.1 years.
housing  poverty 
january 2017 by brycecovert
Mapping Inequality
online archive of HOLC maps with redlining
housing  discrimination  redlining 
october 2016 by brycecovert
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