General News Category Archives

San Antonio Housing Authority Planning Big Investment in Mixed-Income Housing

The San Antonio Housing Authority (SAHA) board approved a $486 million funding package that will support a range of projects, including a 326-unit apartment building with half the units reserved for renters earning up to 50 percent of the area median income (AMI), a 252-unit complex entirely reserved for residents earning up to 50 percent of AMI, and a 102-unit project reserved for families earning up to 60 percent of AMI, and an update to Alazan Courts, the oldest public housing property in the United States.

San Jose Considers New Law Barring Section 8 Voucher Discrimination

The San Jose City Council is set to adopt a new Housing Payment Equity Ordinance that prohibits the discrimination of income sources. The ordinance will cover all rentals—including single-family homes, duplexes, multifamily units, co-living spaces, accessory dwelling units, guest houses and mobile homes—with one exception: rooms in single-family homes where the landlord lives in the house, too.

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Economic and Fixed Income Insights, Aug. 20, 2019

Sales of existing homes were up 2.5 percent in July as tumbling rates provide some relief to the housing market. The average 30-year mortgage rate has fallen to 3.6 percent as yields remain depressed on mounting recession fears. Later this afternoon, minutes from the Federal Reserve’s July meeting will offer some insight into its recent decision to cut interest rates. Investors and the White House are calling for further stimulus at next month’s meeting.

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Three Reasons to Prioritize Energy Efficiency in Affordable Multifamily Housing

This How Housing Matters article explains how energy efficiency upgrades can boost low-income multifamily properties’ net operating incomes, save low-income households money on energy bills and improve environmental outcomes—making investments in these upgrades a triple win. This evidence roundup highlights why policymakers and funders should continue to push housing providers, utility companies and intermediary organizations to bolster their efforts to bring energy efficiency upgrades to both subsidized and unsubsidized multifamily rental housing.

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A Perfect Storm: Extreme Weather as an Affordable Housing Crisis Multiplier

A new report from the Center for American Progress urges lawmakers to address the nation’s affordable housing crisis when tackling climate change in order to build more resilient and prepared communities. These actions include supporting equitable evacuation and disaster recovery for all survivors; expanding investments in federal rental and homeless assistance programs; prioritizing equitable housing policies and just community development; building resilient infrastructure; and increasing funding for disaster mitigation and climate change adaptation.

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Portland, OR Levies $60 per Unit Fee to Fund Rental Services Office

Last week, the Portland City Council and Mayor approved an annual $60 per unit fee for landlords to fund the city’s Rental Services Office, which maintains a registry of rental units, enforces fair-housing laws and mediates landlord-tenant disputes. The fee is expected to generate $3.9 million annually and will facilitate the collection of data that can better inform the city’s housing policy. Housing

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California Cities, Counties Charge Developers High Fees, Exacerbating Affordable Housing Crisis

This Los Angeles Times article explores the role that California cities and counties play in perpetuating the state’s affordable housing crisis. The Residential Impact Fees in California Study from the Terner Center found that overly burdensome fee programs can limit growth by impeding or disincentivizing new residential development, facilitate exclusion and increase housing costs across the state.

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Economic and Fixed Income Insights, Aug. 13, 2019

As the flight-to-quality trade continues with investors fleeing equities and jumping into bonds, stocks remain under pressure amid mounting international uncertainty. According to Bloomberg, the U.S. yield curve is at its flattest level since 2007. On the housing front, mortgage applications increased 21.7 percent from a week earlier. The 30-year fixed mortgage rate decreased eight basis points to yield 3.93 percent, the lowest level since November 2016, and has now dropped more than 80 basis points this year. Rates remain volatile and continue to trend lower on global uncertainty.  The benchmark ten-year UST remains near recent lows at 1.71 percent and the long bond dropped another seven basis points to 2.16 percent. In the tax-exempt market, the ten-year MMD fell seven basis points and the 30-year MMD fell 12 basis points.  

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