Cities respond to increase in rentals with new regulations
For the last four years economic conditions and a surge in foreclosures have created an ongoing trend in America.
The number of renters is growing, while those owning homes has dropped, according to the 2011 State of the Nation’s Housing study published by Joint Center for Housing Studies at Harvard University.
Developers, nonprofits and government work together to provide urban living opportunities for lower to moderate income workers.
Cities from coast to coast have invested millions of dollars to make their downtowns a more attractive place to live. Now they’re scrambling to make them less expensive places to live — especially for people seeking affordable rental housing.
Fewer Americans are buying homes these days, but most believe now is a good time to try. What’s stopping them? They don’t have the money for a down payment or closing costs — and all the chatter from Washington, D.C., about requiring buyers to put 20 percent down makes many people fret they never will.
Proposals to eliminate the home mortgage interest deduction are equally troubling. Most people oppose eliminating the deduction and believe doing so would further damage the housing market and the overall economy.
Communities are working to ensure affordable homeownership along transportation lines.
Emily Green enjoys being able to walk a few steps out of her condominium at Midtown Exchange in Minneapolis to hop on an express bus that gets her to downtown St. Paul in 35 minutes. When she gets home, she can pick up delicacies for dinner at one of the food stands in the Midtown Global Market, on the ground floor, and in the evening, Green can wheel out on a bicycle and pedal along the popular bike path across the street.
With limited financing and consumers downsizing, small and slow is in when it comes to development today. Will it remain hot after the economy recovers?
Dan Camp purchased his first property in Starkville, Miss., in 1969, with a plan to build student housing. He had no idea he was beginning a 40-year process of transforming an entire neighborhood that once housed a cotton mill and housing for the mill’s workers.
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