With a 62 percent electoral mandate, legislative supermajority and large war chest, Gavin Newsom is in a better position than any governor in recent memory to address California’s housing and homelessness crisis. We have too few homes — that cost too much — and the resulting shame of leading the nation in poverty and homelessness. Newsom promised strong action to radically increase home production, from today’s 80,000 to more than 500,000 new units per year. However, expanding rental units and homeless shelters won’t solve the “missing middle” housing plague affecting working Californians. Newsom must also restore homeownership as a top housing priority. Homeownership is our gateway to the middle class: improved education, health, and an intergenerational financial safety net. Prioritizing homeownership also fulfills Newsom’s promise to confront racial injustice. After World War II, while banks were “red-lining” black and … [Read more...] about Newsom must prioritize affordable middle-class housing
Middle class housing
The realtor.com data team set out to find the markets with the highest share of homes that a middle-income family could reasonably afford to purchase. Lance Lambert, provided by Published 5:00 am CST, Monday, November 12, 2018 Photo: IStock; Realtor.com Photo: IStock; Realtor.com Image 1 of / 1 Caption Close Image 1 of 1 Photo: IStock; Realtor.com 10 Surprising Cities Where a $60K Middle-Class Salary Can Snag a Sweet Home 1 / 1 Back to Gallery Can America's stressed-out, fought-over, cash-strapped middle class still afford to buy homes? That's the megamillion-dollar question these days. Because while the economy is strong and wages are rising, these gains are being left in the dust by runaway home prices. Combined … [Read more...] about 10 Surprising Cities Where a $60K Middle-Class Salary Can Snag a Sweet Home
So, along with programs to increase housing options for the poor, the plan offers a generous menu to encourage the middle class to commit to the city. The report, which will be opened up for public comment, suggests that the city should expand a fund to assist buyers with down payments. It also recommends eliminating the onerous transfer tax for first-time home buyers. The income cutoffs are quite generous. A family of four earning $105,000 would qualify for both programs. … [Read more...] about It’s not just affordable housing that’s in short supply in Philly. So is middle class housing.
Two days after lamenting middle-class residents' flight from Dallas, the City Council did something about it. By a 15-0 vote, the council passed Dallas' first comprehensive housing policy, which it hopes will bring 20,000 new homes to 13 of the city's 14 council districts.Through zoning and financing initiatives, the plan calls for increasing housing production, improving existing housing stock and encouraging home ownership in three types of targeted areas — redevelopment areas, stabilization areas and emerging market areas — throughout the city. The city's identified redevelopment areas are sites that already have major projects scheduled to begin in the next year, such as Red Bird, the area surrounding the Valley View mall in North Dallas and the area just south of downtown where the proposed high-speed rail station may be built.Stabilization areas, as classified by the plan, are areas on the edges of desirable neighborhoods — like West Dallas, Casa View … [Read more...] about Dallas Has a Housing Plan to Bring Back the Middle Class
Most folks pay through the nose to live in New York City, but many in search of affordable middle-class housing are finding some relief in Queens. Residential housing is booming in the borough. In February, almost half of new residential construction was in Queens, according to city figures. The NYC Economic Development Corp. (NYCEDC) registered 2,847 new housing units in February, with 1,234 of those in Queens, or about 43 percent of the new units in the five boroughs. “Queens real estate is absolutely bonkers these days,” said Rob MacKay, a spokesman for the Queens Economic Development Corp. The February Queens housing number was almost a 300 percent jump compared with the monthly average over the preceding 12 months, NYCEDC officials said. It was a much higher increase than in any other part of the city, according to the NYCEDC. This jump was Queens’ “highest level since December 2015,” NYCEDC said in a report. A “mega-scale project” in Long … [Read more...] about Queens is in the middle of a middle-class housing boom