The housing affordability crisis is going global
3 weeks, 4 days ago

The housing affordability crisis is going global

Live Mint  

DUBLIN—When Mikey Cullen’s parents were in their early 20s, they earned enough as public-sector workers to buy a house in the city. Ireland, after years of anemic construction, now has the European Union’s most expensive housing, according to a broad measure of rent, maintenance costs and utilities by Eurostat, the European Union statistics agency. “When cities had housing shortages, if they couldn’t grow outwards, they would grow upwards," said Samuel Hughes, head of housing at the Centre for Policy Studies, a center-right think tank based in the U.K. “When you draw lines around places and say you can’t expand beyond this, then you force prices up," said Wendell Cox, a former Los Angeles-area planning official who now serves as a transportation consultant. “A lot of people aren’t reaching their full adult potential," said John-Mark McCafferty, chief executive of Threshold, a nonprofit group that advises renters and lobbies for tenants’ rights and affordable housing.

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History of this topic

Trump’s housing market conundrum
5 days, 10 hours ago

Trump’s housing market conundrum

CNN  

CNN — As President-elect Donald Trump prepares to take office this month, he faces a very different housing market than he did in his first term. Now Trump, a billionaire property developer himself, faces a housing conundrum: Mortgage rates aren’t falling, and home prices are expected to continue rising over the next few years. At the same time, many of …

Homeowners have no incentive to sell. Here’s why
1 week, 5 days ago

Homeowners have no incentive to sell. Here’s why

CNN  

CNN — This year, America’s once-in-a-generation housing slump deepened — but 2025 may not see much improvement. Here’s what economists expect of the housing market in 2025: Homeowners are still locked in The US housing market is on track for its worst sales year in nearly three decades, according to NAR data. “It’s become more of a buyer’s market this …

US homelessness surges 18% in 2024 as affordable housing crisis deepens
Top News
2 weeks ago

US homelessness surges 18% in 2024 as affordable housing crisis deepens

India Today  

The United States saw an 18.1% increase in homelessness this year, a dramatic rise driven mostly by a lack of affordable housing as well as devastating natural disasters and a surge of migrants in several parts of the country, federal officials said Friday. “No American should face homelessness, and the Biden-Harris Administration is committed to ensuring every family has access …

You need to make $108,000 to afford a home in America
1 month, 4 weeks ago

You need to make $108,000 to afford a home in America

CNN  

CNN — In most US cities, buying a home now requires a six-figure salary. A household needed to earn $107,700 to afford a new single-family home and pay property taxes and insurance costs in the third quarter of this year, according to a new report from Oxford Economics. San Jose, California, was the least affordable US metro region, with a …

Affordable housing: why the distress continues
2 months ago

Affordable housing: why the distress continues

The Hindu  

Various factors in the last few years have prompted developers to shift their focus away from affordable housing and instead lean towards the premium and luxury segments. This important segment thus needs to be revived with high-impact measures like tax breaks — for developers, so that they will focus more on building affordable housing, and for buyers to improve affordability. …

How Trump's billionaires are hijacking affordable housing
2 months, 2 weeks ago

How Trump's billionaires are hijacking affordable housing

Raw Story  

America’s morbidly rich billionaires are at it again, this time screwing the average family’s ability to have decent, affordable housing in their never-ending quest for more, more, more. “On the first Tuesday of each month,” notes the Journal article about a similar phenomenon in Atlanta, investors “toted duffels stuffed with millions of dollars in cashier’s checks made out in various …

Why Australia's housing crisis is expected to get even worse - and correcting it could take years
8 months, 2 weeks ago

Why Australia's housing crisis is expected to get even worse - and correcting it could take years

Daily Mail  

Australia's housing crisis will get worse before it gets better and the Albanese government is under growing pressure to do more to fix it in next month's budget, a new report says. A backlog of half-built home and stalls on new projects are projected to worsen Australia's housing crisis, experts say The economist wasn't confident the government's goal of building …

UK homes have worst value for money in developed world: Study
9 months, 2 weeks ago

UK homes have worst value for money in developed world: Study

New Indian Express  

LONDON: Britain's housing stock offers the poorest value for money among advanced nations, according to a study published Monday warning that the crisis-hit sector will loom large over this year's election. Homes in Britain have less floorspace per person than many other developed economies, trailing France, Germany, Japan, the United States and Taiwan. The think-tank found that homes were located …

Proptrack Housing Affordability Index: Australian cities which are least affordable to buy a house
1 year, 4 months ago

Proptrack Housing Affordability Index: Australian cities which are least affordable to buy a house

Daily Mail  

Housing affordability is at its worst level in three decades, with the average Australian household able to afford just 13 per cent of the market. The report found households earning the median income of about $105,000 can afford 13 per cent of all homes sold across the country in the last year - the lowest level since records began in …

How affordable housing finance is proving a boon for millions of homebuyers?
1 year, 8 months ago

How affordable housing finance is proving a boon for millions of homebuyers?

Live Mint  

The promotion of affordable housing for middle and lower-income groups in urban areas has been done extensively by the central government. Affordable housing finance is a boon for millions of homebuyers who wish to buy a house but need more material resources to invest in projects. “This is where Affordable Housing Finance plays a remedial role in incentivising homebuyers with …

Priced out: young people needing housing face a closed door
1 year, 10 months ago

Priced out: young people needing housing face a closed door

Dutch News  

The papers are full of news about house price movements, new political drives and house building plans. Delft university housing systems professor Peter Boelhouwer calls it a ‘wicked’ market, where first time buyers and those on mid-level incomes get stuck in ‘a big poverty gap/trap.’ By 2022, he says, a two-income couple on an average income needed savings of €280,000 …

Priced out: young people needing housing face a closed door
1 year, 10 months ago

Priced out: young people needing housing face a closed door

Dutch News  

The papers are full of news about house price movements, new political drives and house building plans. Delft university housing systems professor Peter Boelhouwer calls it a ‘wicked’ market, where first time buyers and those on mid-level incomes get stuck in ‘a big poverty gap/trap.’ By 2022, he says, a two-income couple on an average income needed savings of €280,000 …

Housing affordability for young people is beyond a crisis — so what do we do now?
2 years, 9 months ago

Housing affordability for young people is beyond a crisis — so what do we do now?

ABC  

We've hit a crisis moment for younger Australians on housing affordability. Record property prices forced many into choosing between committing to saving for a home, trying their hand in the stock market or just giving up on home ownership altogether. It will take a couple, on an average income, over a decade to save enough money to buy a "typical" …

How we can solve the nation’s affordable housing crisis
2 years, 10 months ago

How we can solve the nation’s affordable housing crisis

CNN  

Editor’s Note: Janneke Ratcliffe is vice president for the Housing Finance Policy Center at the Urban Institute. Building more homes for low- and moderate-income families and first-time homebuyers, and equipping these families with reliable and affordable financing tools so they can compete to buy these homes, is essential if we’re to solve the nation’s affordable homeownership crisis. Here are a …

COVID provided a real-life experiment on house price theory and what makes owning a home unaffordable
3 years, 3 months ago

COVID provided a real-life experiment on house price theory and what makes owning a home unaffordable

ABC  

In March last year, Australia's international border was slammed shut. "I said at the start of COVID, we're about to find out what matters more for house prices: interest rates, or underlying demand or supply," he said. "The Reserve Bank's been very clear, it's not going to raise interest rates to reduce house prices," he said. "The issue is not …

Homeowners at all-time comfort level as renters struggle, WA housing affordability report finds
3 years, 6 months ago

Homeowners at all-time comfort level as renters struggle, WA housing affordability report finds

ABC  

Perceptions of housing affordability have improved in Western Australia but there are very different stories being told by homeowners and renters as the COVID-19 pandemic alters the property landscape. Key points: The report found median rent for a home in Perth had risen to $430 Dwelling approvals in WA rose by 118 per cent over the year to April 2021 …

Inflation: The housing market is on fire. The Fed keeps adding gasoline
3 years, 6 months ago

Inflation: The housing market is on fire. The Fed keeps adding gasoline

CNN  

New York CNN Business — Bidding wars. And while the Fed is finally “talking about talking about” removing some of its support, some fear the US central bank is creating another housing bubble as it deliberates. “It probably isn’t the case that the Fed should be continuing to artificially hold mortgage rates down.” Danielle DiMartino Booth, a former Fed official, …

Opinion: The only way to resolve the nation’s affordable housing crisis
3 years, 7 months ago

Opinion: The only way to resolve the nation’s affordable housing crisis

CNN  

Editor’s Note: Jim Parrott is a non-resident fellow at the Urban Institute and co-owner of Parrott Ryan Advisors, which provides strategic advice on housing finance issues. But it is unnerving to see so little attention given to what may be the most critical infrastructure need of all: the nation’s dire shortage of affordable housing. The typical renter saves less than …

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