Housing Market Analysis Survey Results

The Los Angeles County Board has allocated $25 million dollars to spend on new programs that promote social justice. I have developed a proposal to allocate the money to create affordable housing complexes in communities within the city. The communities selected for housing developments are Boyle Heights, Watts, Chinatown, Pico-Union and Elysian Park. The proposal includes spending all $25 million in five developments of affordable housing. Each housing development will have twenty five 2-bedroom apartments. A total of one hundred low income families will benefit in total. My proposal includes asking each family to pay a monthly rent of 1/4 of their monthly earnings. The monthly rent collected from tenants can be used to maintain the developments,

Today, I am going to speak about the affordable housing in Pittsburgh .First let me tell about why the affordable housing is preferred. People who live in affordable housing today want safe, decent housing for the same reasons that we all do. The reasons are mainly to provide a nurturing environment to raise their children. Another reason is to remain in the community where they were raised or to become part of a community in which they want to settle. Finally, to live in an attractive, safe environment that they can afford. People who need affordable housing are ones that are employed as secretaries, school teachers, local government employees, restaurant workers and sales clerks. These workers need affordable housing because of the wide gap

Alumni giving rates at private historically black colleges and universities (HBCUs) lag behind the national averages of all private institutions of higher education (Robinson, n.d.). The average alumni giving rate among private HBCUs is 11% (Robinson, n.d.), while all private colleges and universities yield a 20% rate (Malhere, 2015). A culture of philanthropy among HBCU alumni has not been prevalent, although many of the institutions have been producing graduates since the late 19th century. Simply put, alumni have not lived up to what they should do to support their alma maters (Cohen, 2006). HBCUs have traditionally relied on large institutional fundraising sources, such as foundations and corporations. Historically, however,

While the cost of living varies from state to state, but according to MyApartmentMap, the average cost of a one bedroom apartment in the United States is $975 per month. Without taxes taken

The secondary economic effects of affordable housing opportunities are felt primarily by those who receive the housing. In 2006, over 50% of Massachusetts renters were housing-cost burdened, paying more

Colleges and universities receive tremendous amounts of money each year. Most donors give to one specific organization or department each time, to insure they are well taken care of. “ Too many benefactors donate to institutions that are already well provided for.” The colleges that get the most money are the wealthiest schools. There are many “Well deserving” colleges that do not get nearly as much. Colleges like, The Cooper Union for the Advancement of Science and Art, are tuition free schools. Western Oregon University also offers very low tuition. The donors money could be put to good use at these schools that are more focused on educating the minds of students rather than gaining a

The cost of living in the area is less than the national average and home prices and rental rates are reasonable. The average rent per month is near $900 while home prices are under $300,000 on average.

According, to an article “The Rent Really Is Too Damn High In New York” by Christopher Mathias he states that “over 50 percent of New York state residents pay they can’t afford” which is why so many families are struggling with public assistances or even qualifying for welfare. Additionally, Mathias goes on to mention that families are having to pay about thirty percent more of their income, just to be able to pay rent and in the process are not able to afford the necessities like food, clothing, transportation and even medical care. Through this article we are given a map of the percentage of rent paid in households across New York City.

Texas has for many years been acknowledged for maintaining significantly affordable housing rates despite various economic changes experienced across America. Majority of the people living in Texas fall under the categories of low and middle-income earners. In Texas if ou are making minimum wage, you won’t be able to make rent. In this study it tells us that if “ The average Texan household will need 2.4 minimum wage earners or 97 hours of minimum wage work per week, in order to make rent.”(o’neil). Which is super difficult for two adults living in one household, which makes it even more challenging for single parents, elderly, and people with disability. However, change is possible, and recent

This illustrates that the cost of housing alone is doubled in DC compared to that of the Charlotte area. This can be tough especially as the expectation for one to live comfortably is to dedicate 35% of your income to

Macroeconomics is an excellent tool for the analysis of the housing industry as something like a capital good, as a home is considered to be, cannot easily be studied in a short-term platform. Real estate is a good that costs several times more than an average persons annual income, in the United States that number is typically 7 times as much, and in the United Kingdom that number is 14 times as much. Several factors of both supply and demand directly impact the housing market on a macroeconomic scale. (Business Economics, 1)

Multifamily residential is a sector in real estate market. It is a type of housing “where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex (Resource: Appendix 26).” The classifications of multifamily housing are various. According to the methods of classifying online (Resource: Appendix 27), the multifamily are divided into duplex or semi-detached (in some cities, it is called two-flat), three-flat, four-flat, townhouse, apartment building, mixed use building, and apartment community. Although multifamily targets for the number of householders are over one, each sub-segment of multifamily has different targets and focuses. Based on the variety of geology, demography, climate, hydrology, culture, history, and other factors, each sub-segment fits in different lands or cities. For example, duplex is common in Milwaukee (Resource: Appendix 28), because duplex is popular in Poland, and Polish immigrants built those houses to live in. In Chicago (Resource: Appendix 29), duplex is an old signature of American workplaces and living houses, and they are reserved in Chicago to satisfy the needs of residents there.

The influx of the middle and upper class is exhibited through the amount of affordable housing now available in neighborhoods throughout Minneapolis and Saint Paul. In 1998 “11% of housing in Minneapolis-Saint Paul” were densely gentrified neighborhoods, and with time this is increasing (Wyly, et al). With higher earners entering a neighborhood, the higher the cost of housing is. One way to measure affordability is comparing the median renter’s income and their affordable threshold of rent (usually 30% of their monthly income) with the percentage of available units that this renter could buy in a neighborhood. For an area to be considered affordable, 50% or more of units should be available for a median renter (CURA Housing Forum). In a University

The report goes on to say that in order to maintain healthy balance within downtown districts, the new low-income residents will include teachers, policeman, and fireman, child care workers, medical technicians, elderly, and the disabled, and single-parent families. So as I read this information I realize there are several contradictions. In one breath, the downtown district is suitable for certain classes of people which make a clear distinction between what the downtown district considers healthy and unhealthy. As a social worker this raises some red flags for me. This leads me to believe that a certain classes of people are preferred and accepted. They may be low income but they are still preferred because they are considered the working class, and to hear that the concept of affordability shifts as the economy shifts is disheartening. So I can see that the vision will include diversity among incomes; however, truth be told, displacement and gentrification is a lived experience for

Interest rates have a major economic impact on the real estate market. Interest rates directly affect property sales. Residential property realizes the greatest affect as interest rates have a considerable influence on a homebuyer’s capability to purchase a new property. The customer is affected when there are significant increases or decreases in interest rates. Declining interest rates lower the costs of obtaining a mortgage; this in turn creates higher demand for homes, and pushes home prices up. Conversely, high interest rates increase the costs to obtain a mortgage; these increases lower the demand for homes, which creates a decline in home prices. (Stammers, 2016)