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The number of apartments deemed affordable for very low-income families across the United States fell by more than 60 percent between 2010 and 2016, according to a new report by Freddie Mac.
The report by the government-backed mortgage financier is the first to compare rent increases in specific units over time. It examined loans that the corporation had financed twice between 2010 and 2016, allowing a comparison of the exact same rental units and how their affordability changed.
— The Washington Post
The Washington Post reports about a new report by Freddie Mac: "More renters flooded the market after people lost their homes in the housing crisis. The apartment vacancy rate was 8 percent in 2009, compared to 4 percent in 2017. That trend, coupled with a stagnant supply of apartments, resulted... View full entry
Acres of prime real estate are opening for redevelopment as America’s malls struggle to compete with Amazon and other online giants, offering developers a rare shot to remake swaths of land in the country’s built-out metropolises.
In particular, real estate experts say, the demise of retail centers provides one of the best chances to add needed housing [...].
— Los Angeles Times
In his article, LA Times reporter Andrew Khouri also points out the drawbacks of these new development opportunities, writing "residents voiced concern that the development will make the area more attractive to those of higher incomes and put upward pressure on rents in the surrounding area, even... View full entry
The Government is spending four times as much – some £32bn—subsidizing private housing as it is building affordable homes for low income families, a report has revealed.
The study showed 79 per cent of the total housing budget is currently spent on higher-cost homes for sale, including through the controversial Help to Buy scheme, but just 21 per cent, around £8bn, goes to affordable homes for rent.
— The Independent
Carried out the Chartered Institute of Housing (CIH), the annual review shows a significant shift away from programs that build new affordable housing in favor of subsidization. The amount of government funding granted to the Affordable Homes Program has fallen to just £285 million, down... View full entry
The Abu Dhabi-owned developer won planning approval for the 268-home mixed-use redevelopment of the Metropolitan Police’s HQ site in April 2016....Since then developer BL Developments has sought to increase the total number of homes by 27, from 268 to 295, with no increase in the number of affordable units or payment in lieu, meaning the level of affordable housing fell further still to only 3%. — Construction Enquirer
BL Developments, who bought the site back in 2014 for £370m, had submitted an initial proposal to transform the former Metropolitan Police headquarters into a mixed-use scheme. The plans, which involved tearing down three existing buildings to clear the way for six residential-led buildings... View full entry
The Mayor of London, Sadiq Khan, has announced that the city will be investing £25 million into constructing over 1,000 affordable prefab apartments. Funding from the city will go into purchasing small brownfield sites that will then be built on by Pocket Living, a developer specializing in... View full entry
Sinclair has been working with Airbnb over the past year on various pilot projects, with the official [temporary housing] project launching this summer. The ultimate goal is for one million Airbnb users to register as “hosts for good,” signaling that they will provide housing for people impacted by natural disasters or otherwise displaced. — Inhabitat
Sinclair will lead Airbnb's in-house humanitarian team as part of the company's goal to provide free, short-term housing for 100,000 people in need over the next five years. Airbnb announced the #weaccept project in a commercial (linked below) that aired at this year's Super Bowl, not long after... View full entry
Good walls make good neighbours – but not, it seems, when they are made entirely of glass. Five residents of the multi-million-pound Neo Bankside towers, which loom behind Tate Modern like a crystalline bar chart of inflated land values, have filed a legal claim against the museum to have part of its viewing platform shut down. They claim that its 10th-floor public terrace has put their homes into a state of “near constant surveillance”. — The Guardian
In an apparent case of art interfering with life, the owners of the apartments next to the Tate Modern's viewing platform are trying to legally erect some kind of visual barrier between them and the visitors of the museum (although the exotic technology of curtains has apparently not yet made it... View full entry
The Heygate Estate in London was torn down in 2014, forcing tenants out of their homes with compensation that was less than 40% of market value. Supposedly, the replacement building would have affordable housing as well. But, according to Vice, 100% of the properties sold in the building so far... View full entry
Under the terms of the project, [Multnomah County] would build the granny flats and homeowners would get to keep them—a substantial property upgrade. In return, a homeowner would commit to a five-year lease of the backyard structure to a homeless family, without pocketing any rent.
"We're taking risks," says Mary Li, director of the Multnomah Idea Lab, a county policy center. "My hope is, we prove this concept, and we do 300 of these in the next 12 months."
— Willamette Week
As the homelessness crisis worsens in Portland, city and Multnomah County officials are under pressure to find solutions. One pilot project the county will test out is “A Place for You”, wherein the county would offer to essentially pay homeowners to build them a roughly 200-square-foot in... View full entry
Suppose there were a way to pump up the economy, reduce inequality and put an end to destructive housing bubbles like the one that contributed to the Great Recession. The idea would be simple, but not easy, requiring a wholesale reframing of the United States economy and housing market.
The solution: Americans, together and all at once, would have to stop thinking about their homes as an investment.
— New York Times
The six planned factories will use British light gauge steel framing to produce panelised components for residential developments that are “at least 75% off-grid” thanks to solar power and energy efficient design, renewables developer Welink said in announcing the joint venture today (19 December). [...]
The UK government greeted the news enthusiastically, as it tries to lure innovative entrants to the UK housing market to help it deliver its objective of 1 million new homes by 2020.
— globalconstructionreview.com
More pre-fab on Archinect:SHoP-designed Brooklyn tower – now world's tallest modular building – opens its doorsJean Nouvel's prefab 'Simple' home can be reconfigured from the inside outTo solve a housing crisis, invest more in modular constructionA Parisian architect's plan to solve housing... View full entry
the developer, Townscape Partners, agreed to reduce its tallest tower to 178 feet and add more affordable housing and more parking spaces. It will also provide $2 million to ease traffic congestion.
The project will have 229 residential units, including 38 for low-income families. There will be 65,000 square feet of commercial space and a pedestrian plaza.
— latimes.com
When Gehry's Sunset Strip development was approved by the L.A. City Planning Commission last August, the plan called for 28 affordable housing units (15% of the total stock)—a number that some at the Commission meeting were concerned set a "low bar" for a development of its size, stature and... View full entry
Housing must now be recognised as a human right, no different than the right to vote or express yourself freely. This means understanding that housing cannot be viewed first and foremost as an economic driver or a commodity to add to an investment portfolio; that forced eviction is not development; that land has more than monetary value; and that the private market must be regulated. — the Guardian
It also means housing homeless people rather than making them criminals for trying to stay alive, and it means recognising that everyone has the right to live in the city regardless of socio-economic status.Many of the world's major cities are gripped with housing crises. For more on this... View full entry
Housing is under attack today. It is caught within a number of simultaneous social conflicts. Most immediately, there is a conflict between housing as lived, social space and housing as an instrument for profit-making — a conflict between housing as home and as real estate. More broadly, housing is the subject of contestation between different ideologies, economic interests, & political projects. More broadly still, the housing crisis stems from the inequalities and antagonisms of class society. — Jacobin
For more on the housing crises gripping almost every major city in the world, follow these links:Inside the failure of Jerry Brown's plans to ease California's housing crisisTo solve a housing crisis, invest more in modular constructionTo live in London you can't be a LondonerThe root of London's... View full entry
Bjarke Ingels has found the elusive silver lining in global sea level rise and the European affordable housing crisis in the form of "Urban Rigger," a series of inexpensive student housing complexes that are designed to float in the sea, especially in those cities which have dense urban cores next... View full entry
