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White House, HUD announce $5.5B in housing and community development grants

Housing Wire

Department of Housing and Urban Development (HUD) and the White House announced $5.5 The funding is designed to address a series of local needs including affordable housing , homelessness assistance and community development. Of the total funding, $3.3 Another $1.3

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Rural America is losing affordable housing at a crisis pace

Housing Wire

After those government-supported mortgages terminate due to maturity or prepayment, the owners can, and many do, convert their multifamily properties to market-rate rents, or sell them to new owners that are not committed to providing housing that is affordable to struggling low-income rural tenants.

Tenants 469
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Built-to-rent construction gains momentum amid affordable housing shortage 

Housing Wire

In the city of Paso Robles, California , for instance, where the median home price hovers around $700,000, real estate developer STG Capital Partners is building 200 two- and three-bedroom rental duplexes, with monthly asking rents ranging from $3,000 to $3,700, the Journal reported. Meanwhile, investors are flocking to the BTR sector.

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Building a fairer financial future with rent payment reporting

Housing Wire

California’s SB 1157 has made a significant impact on the lives of tenants in subsidized housing developments. This groundbreaking state-specific law mandates that landlords who own or operate such properties offer their tenants the option to have their rental payments reported to credit bureaus.

Tenants 384
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Florida theme parks creating more housing for employees

Housing Wire

But the parks — which employ an estimated 110,000 people collectively — are also facing headwinds due to their employees’ struggles to afford housing , and now both NBCUniversal and The Walt Disney Company — owners of the major parks — are aiming to address it, according to reporting from Bloomberg.

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Opinion: More financing options for ADUs are needed

Housing Wire

In the ongoing struggle for attainable housing, one positive development has been the increased availability of funding options for homeowners seeking to incorporate Accessory Dwelling Units (ADUs) into their properties. Some smart lenders, especially among credit unions, have developed some great products for ADU financing.

Finance 436
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Biden’s executive order will extend foreclosure moratorium

Housing Wire

Brian Deese, Biden’s choice to lead the National Economic Council , said the president will call upon the Centers for Disease Control and Prevention and the departments of Veterans Affairs , Agriculture and Housing and Housing and Urban Development , to aid in an immediate extension of their federally backed mortgages.

Landlords 542