Affordable Housing Crisis Research Paper

Housing is a national crisis issue and the professional solution has priced itself beyond the reach of the majority of citizens.(Archer) To own a house implies commiting oneself to a mortgage and guaranteed income level for the majority of one’s working life.

This paper will argue how Canada's housing market is at an all time high, we are known in Vancouver for having the most expensive housing market. This expensive market is not just a Vancouver problem, it is an issue growing through out the nation and is depriving the average citizen to be able to purchase a house in there life time. There is a major issue with the state of our market and how it effects out current citizens. Issues have been arising where the average wage in Vancouver is estimated at seventy seven thousand per family house hold, yet the average costing home as reached between five hundred thousand in the

Article 25 of the Universal Declaration of Human Rights asserts that housing is a fundamental component to a decent standard of living, yet few city governments--even in the most developed economies--have proven themselves capable of ensuring such a basic right to their constituents (United Nations, General Assembly). Ranked 49th among the 50 U.S. states for its number of housing units per capita, California has notoriously struggled with chronic shortages in its urban housing market. With 118,142 homeless people recorded in 2016, California holds almost 22% of the nation’s homeless population (Fact Sheet: Homelessness in California 1).

The sounds of elation by all sides of the business are what everyone involved in the post housing market crash is saying these days. The age of the foreclosure and short sale (“when a house on the market is worth less than the seller still owes for it”) is slowly coming to an end as buyers and lenders are more aware of the changing factors in today’s real estate market (Momberger). The previous method that lenders used helped cause the housing crash and a higher level of home loan defaults. Before the housing crash many buyers entered their housing purchase having some debt and often would refinance to pay off debts and use the increasing value of the house they purchased to pay them off. The new ways of qualifying buyers and assessing a homes

In 2007 the worst housing market crash in U.S. history took place. Foreclosures and housing-related bankruptcies surged significantly. This ultimately caused the financial crisis the next year which nearly caused the United Sates to go into another great depression. So how did this housing bubble occur and what happened that caused the bubble to collapse?

Statistically, one out of seven families live in severe physical deficient housing. In fact, the housing and stock market revealed in July of 2009 that the Great Recession further widened the gap and income disparity between the average, hard-working Americans and the top 1% of wealthy Americans. Edward N. Wolff suggests that the average American produced a massive 36.1% drop in overall marketable assets while the top 1% of wealthy Americans only lost 11.1%. This income gap disparity ensures that ever-increasing need for affordable housing as the economic crisis worsens.

The topic selected addresses housing assistance to low income households by the federal government. The federal government provided assistance through the housing choice voucher (HCV) program, public housing, project-based rental assistance, grants and tax expenditures. Funds range from $18 billion dollars for housing vouchers to 7 billion dollars for tax expenditures for the low-income housing tax credit. The three main programs assists almost five million households or close to 10 million people. However, these programs and funds only are utilized by only one quarter of the population who are eligible to receive these services. Annual household income for the participants of these programs were less than $14,000 per year which places

On the 9th of December of 2014, I attended a San Jose City Council meeting in the council chambers in the San Jose City Hall. The topic of discussion was the issue of affordable housing in San Jose. There are nearly 5,000 homeless people in San Jose. There are thousands more on waiting lists for affordable housing, some using more than 50 percent of their daily income for rent, or in danger of losing their homes. Homelessness impacts our community, our environment, and our homeless neighbors. Addressing the issue of homelessness is a constant battle between respecting the rights and also meeting the needs of the homeless individuals. This was continuously brought up during the City Council meeting. The members were discussing the

Housing options are increasingly becoming a challenge in the United States of America. Competition is at an all-time high, as age and population forcibly create irremediable problems. The main challenge is being posed by baby boomers and millennials in the real estate market. For instance, many Americans depend on mortgages to finance their asset acquisitions. Income levels are plummeting, while the increase in mortgage rates and prices make it hard for many Americans to be able to afford various mortgage products that are being offered by financial institutions. Although housing options have arguably been growing at everlasting rate through construction, millennials might have an increasingly more difficult time relocating after college due

Vulnerable families were hit hard by the recent recession and housing crisis. Rates of homelessness and housing instability among families with children increased during this period, and thousands of families in the United States remain without safe, stable, affordable housing (Cortes, Dunton, Henry, Rolston, & Khadduri, 2012). Families without adequate housing face barriers to multiple aspects of wellbeing including physical and mental health, educational and employment opportunities, family stability, and social engagement. Homelessness has proven to be harmful to children above and beyond the general conditions of poverty, and children without adequate, safe, stable housing experience negative outcomes across multiple domains of health and wellbeing.

Affordable housing is a key issue in New York City because affordable housing doesn’t address the needs of lower and middle-income households. The people who do need affordable housing don’t qualify for it based on governmental standards and majority of the population aren’t able to buy houses at the market price. Affordable housing programs are an essential need to many hard-working New Yorkers. Affordable housing aids adults, children, and seniors in feeling secure and stable and contributes to the mental and physical well-being of New Yorkers. Something I can do to aid in the fight for affordable housing is spread the word about it and the issues surrounding it.

Housing affordability has been one of the most persistent national concerns mainly because housing costs are the biggest expenses in the budgets of most households. A typical American household spends more than a third of its budget on housing while poor and near-poor households commonly devote about half of their incomes to housing (Consumer Expenditure Survey, 2011) .

Americans across the United States search for the perfect home, location and square footage of course a great price to pay for their castle. Finding an affordable place to live is ideal, and necessary for survival in this day of age. As the years go by the cost of living increases but Americans do not receive a cost of living raise. The demand for affordable housing is on a all time high, but so is the cost of housing in the metropolitan areas across the United States. America must take care of its citizens and should provide affordable housing programs, to assist Americans to either purchase or rent a home.

The lack of affordable housing in the United States is a problem that doesn 't receive nearly the attention that it necessitates. This absence of affordable housing became especially prevalent following World War II when suburbanization spread across the country like wildfire. Although the sheer number of homes increased, Jim Crow segregation influenced housing policy, meaning that white institutions prevented blacks from obtaining the mortgages needed to afford such homes. Therefore, rather than accept subprime loans, which often result in foreclosure, many black people have been pigeonholed into paying exorbitant rates for dilapidated rental properties located in inner-cities, thereby creating the affordable housing problem. Although the situation seems bleak, with careful planning and execution, we can solve the affordable housing problem. Specifically, my proposal involves the following two components: the government must first revise and draft three forms of legislation that create strict yet concise standards that landlords must follow, and then allocate federal funding to health and wellness programs within poor communities. By examining the contributing societal factors to the lack of affordable housing in Milwaukee, Wisconsin, and then implementing the proposal mentioned above, one could potentially solve the affordable housing problem there and transpose the plan to other impoverished cities across the country.

My paper is about the recent situation and growth in the Hudson real estate market. I spoke with Kira Blair who works at Wells Fargo bank as a personal banker. Her impressions reflect what I’ve found in my literature research, which is firstly about the trend in real estate market. Kira said the trends of the rental market is that the need for lower rental for young people will continue to increase because younger people were unable to afford the mortgages when they enter the workforce for the first time. So without the funds to make a down payment or the credit to be approved for a mortgage, young people opted to rent and they may continue to rent in many years. Kira said that the demand for buying houses or apartments are not as much as