Afro American News

Growing Lack of Affordable Housing Leaves Low-Income Families with Few Options | BlackPressUSA

By Christopher G. Cox, Publisher and Managing Editor, www.realesavvy.com

A recent study by the Urban Institute reports that in communities across the nation home prices and rents are exceeding the reach of an increasing number of households.

“For every 100 extremely low-income households, there are only 29 adequate, affordable, and available rental units. That means two parents who both work minimum-wage jobs might wait years to find a safe, affordable place to live with their two kids,” the report states.

According to Michael Washburn, president at Exit Realty of the Carolinas, based in Charleston, S.C, there are a number of troubling factors that contribute to this problem.

“Rules and regulations that govern where and how housing developments can be built,” Washburn said, “vary widely from one municipality to another. Government and the private sector have to come together to streamline the process of building homes and apartments,” he adds.

One possible solution to dealing with this problem, says Washburn, is offering developers property tax incentives that make it possible to reduce the cost of land acquisition. Another more long-term answer is expanding public transportation. Modern light rail systems enable residents to have a reliable, economical commute from areas where housing is more affordable to areas where their jobs might be located.

“It doesn’t help much to have an affordable rent,” Washburn said, “if you have to buy a car and pay all the costs associated with buying gas, maintenance and insurance.”

This growing lack of affordable housing is particularly acute in Charlotte, NC, said LaWana Mayfield, who represents District 3 on Charlotte’s City Council, because of rapid population growth fueled largely by individuals who have relocated from high-cost-of-living cities hoping to find a more affordable lifestyle.

Mayfield also notes that the hosting the national nominating conventions of the nation’s two major political parties puts a city in the national and international spotlight, spurring massive growth and sudden attention that can be disruptive. Charlotte hosted the Democratic National Convention in 2012 and has been selected as the site for the Republican National Convention in 2020.

Other important factors contributing to the lack of affordable housing, said Mayfield, are the expanding wage gap between corporate executives and their employees and the ongoing assault on labor unions, which for decades helped to insure wage growth and better working conditions for their members.

Despite these external historical factors, Mayfield strongly believes there is an important role for personable responsibility when weighing the many elements that go into purchasing a home.

“Home buyers need to take the time to do the research on an area where they are considering buying and understand the current market trends,” she said. “We are bombarded in the media with the idea that we should spend money, but it’s important to understand the long-term impact of your investment for both your family and your community.”

Mayfield emphasizes that just because a buyer qualifies for a mortgage at a certain level, does not mean that obtaining that budget-stretching mortgage is the best decision in the long run. “Just because you can pay it,” she adds, “does not mean you should.

“For example,” she continues, “suppose a couple qualifies for a $500,000 mortgage. Rather than buying a home for that amount, they might do better to buy a house that costs $150,000 and spend $50,000 fixing it up. That would give them more financial flexibility to consider other investments or to cope with an unanticipated event such as the loss of a job.”




Source link

health news headlines provided courtesy of Medical News Today.

Advertisement

Advertisement Small

Follow Me

Collaboratively harness market-driven processes whereas resource-leveling internal or "organic" sources. Competently formulate.

View More Job Search Results

Calendar

July 2019
M T W T F S S
« Jun    
1234567
891011121314
15161718192021
22232425262728
293031  

Pages

Recent Comments

    RSS Meks Blog

    • How to easily create WordPress dropdown menu (without coding) July 17, 2019
      Interested to create WordPress dropdown menu all by yourself and don’t know how? Just follow our guide and learn in no time! The post How to easily create WordPress dropdown menu (without coding) appeared first on Meks.
      Ivana Cirkovic
    • 12 must join Facebook groups for photographers July 11, 2019
      Whether it’s for constructive feedback or new learnings, these Facebook groups for photographers are a great networking place to be in! The post 12 must join Facebook groups for photographers appeared first on Meks.
      Ivana Cirkovic
    • Easy guide on how to make your WordPress site private July 4, 2019
      Wondering how to make your WordPress site private knowing there is no built-in option to it? Read our guide and learn all about it! The post Easy guide on how to make your WordPress site private appeared first on Meks.
      Ivana Cirkovic
    • 10+ email list building ideas and tools (to easily grow your customer base) June 27, 2019
      What are some of the most efficient email list building ideas and tools to grow your audience in 2019 and beyond? Here’s our recommendation! The post 10+ email list building ideas and tools (to easily grow your customer base) appeared first on Meks.
      Ivana Cirkovic
    • The future of WordPress and Gutenberg Editor – Matt’s talk at WordCamp Europe 2019 June 22, 2019
      What seems to be the future of WordPress and Gutenberg Editor? These are the topics Matt covered in his summer state of WordPress at WCEU in Berlin and all the great things coming ahead. The post The future of WordPress and Gutenberg Editor – Matt’s talk at WordCamp Europe 2019 appeared first on Meks.
      Ivana Cirkovic
    • How to easily add Google Fonts to your WordPress website June 19, 2019
      Do you want to add Google fonts to your WordPress website? Here’s how you can freshen up your web place and make it faster, trendy and more appealing. The post How to easily add Google Fonts to your WordPress website appeared first on Meks.
      Ivana Cirkovic
    • Using Google Trends for market research to leverage your content creation ideas June 12, 2019
      Did you know you can use Google Trends for market research and target your customer needs, tailor content strategy, in a much better way? The post Using Google Trends for market research to leverage your content creation ideas appeared first on Meks.
      Ivana Cirkovic
    • How WordPress can help you to build and increase brand awareness June 6, 2019
      How can you build and improve brand awareness with WordPress and what steps are needed in that strategy? The post How WordPress can help you to build and increase brand awareness appeared first on Meks.
      Ivana Cirkovic
    • Starting a photography blog: The secrets successful photo bloggers won’t tell you May 30, 2019
      Is starting a photography blog the next step for your personal branding and getting out there with your work? Sure is! And here’s how you can do it! The post Starting a photography blog: The secrets successful photo bloggers won’t tell you appeared first on Meks.
      Ivana Cirkovic
    • 5+ best forum plugins for WordPress to build a loyal community in 2019 May 22, 2019
      Looking for the best forum plugin for WordPress to build a community and keep them engaged? Let us save you the time and choose among these 6 we recommend. The post 5+ best forum plugins for WordPress to build a loyal community in 2019 appeared first on Meks.
      Ivana Cirkovic

    Text

    Distinctively utilize long-term high-impact total linkage whereas high-payoff experiences. Appropriately communicate 24/365.

    Archives