Category Archives: Housing

The Housing Landscape for America’s Working Families, 2007

Source: Maya Brennan and Barbara J. Lipman, Center for Housing Policy, August 2007

From press release:
The number of low- to moderate-income working family renters paying more than half their income for housing has doubled – growing faster than the number of working family homeowners with this problem -according to a new study entitled The Housing Landscape for America’s Working Families 2007 conducted by the Center for Housing Policy. Specifically, the study found that the number of working family renters paying more than half their income for housing grew 103 percent from 1 to 2.1 million between 1997 and 2005. The number of working family homeowners paying more than half their income for housing increased at a significantly slower rate, rising 75 percent from 1.4 million to 2.4 million during the same time period. This study also takes an in-depth look at housing problems in 31 U.S. metropolitan areas and provides specific affordability findings for working family renters and homeowners in these metro areas.

Promoting Homeownership among Low-Income Households

Source: Edgar O. Olsen, The Urban Institute, Opportunity and Ownership Project Report No. 2, August 20, 2007

The United States’ current system of low-income housing assistance is biased against homeownership. This paper documents the bias and suggests reforms to eliminate it. The new policies would allow more low-income families to become homeowners by providing similar subsidies for renters and owners under the two largest programs for low-income housing, Section 8 and the Low-Income Housing Tax Credit. The reforms would not require additional spending, would improve the cost-effectiveness of the system of low-income housing assistance, and would avoid the two biggest mistakes in past attempts to subsidize homeownership: subsidizing the construction of new units and requiring intended beneficiaries to buy from selected sellers.

ACORN releases study on foreclosure epidemic

Source: Association of Community Organizations for Reform Now, Inc. (ACORN)

ACORN chapters around the country released reports identifying U.S. neighborhoods with the highest foreclosure rates.
The set of reports, titled Home Insecurity,” highlights more than 110 cities and counties with high foreclosure rates.
Last year there were 1.2 million foreclosures filed — an average of more than two foreclosures every minute.
That number represents a large increase from 2005, when there were about 900,000 foreclosures filed. The foreclosure problem is expected to get worse this year, with about 1.5 million foreclosure filings.

+ Metro area reports