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Many baby boomers poured millions into these spacious homes, planning to live out their golden years in houses with all the bells and whistles.
Now, many boomers are discovering that these large, high-maintenance houses no longer fit their needs as they grow older, but younger people aren’t buying them.
— wsj.com
The Wall Street Journal reports that wealthy baby boomers in America's far-flung retirement suburbs are having trouble selling their McMansions. The problem? The homes are too big, too expensive, and too far away from everything else. Another issue: Too many multi-million dollar homes are... View full entry
When Los Angeles Mayor Eric Garcetti took office in 2013, the city was home to 22,993 homeless residents [...].
The number of unhoused people living within city limits now stands at 36,300—and 75 percent are unsheltered.
With homelessness up 58 percent on his watch, the mayor struck an apologetic tone in a letter sent to residents Tuesday.
— Curbed LA
"As your mayor, I take full responsibility for our response to this crisis," wrote Los Angeles Mayor Eric Garcetti in an open letter this week. "And like everyone who has seen families in tents or spoken to a homeless veteran in need, I am both heartbroken and impatient. While we have housed more... View full entry
Author William H. Frey, senior fellow for the Metropolitan Policy Program at the Brooking Institute, writes, "These trends are consistent with previous census releases for counties and metropolitan areas that point to a greater dispersion of the U.S. population as the economy and housing... View full entry
Mayor London Breed’s proposed budget for the coming fiscal year will soar by $1.2 billion — making it the largest in city history — and boost investment in tackling the city’s most urgent problems: housing and homelessness. — SF Chronicle
The housing and homelessness crisis in major cities, especially in San Francisco, has been an ongoing issue. Mayor London Breed met with city officials and San Francisco residents to address new plans to address solutions towards the increased initiative towards housing and homelessness. With an... View full entry
The annual point-in-time count, delivered to the Board of Supervisors, put the number of homeless people just shy of 59,000 countywide. Within the city of Los Angeles, the number soared to more than 36,000, a 16% increase. — The Los Angeles Times
Homelessness is surging in Los Angeles County and across California, where most major cities have seen double-digit increases in their share of residents experiencing homelessness since last year. Los Angeles County Supervisor Mark Ridley-Thomas told The Los Angeles Times, “At this point of... View full entry
Blackstone Group is cashing in on its bet on the suburban rental class.
The private-equity firm late Tuesday sold more than $1 billion of shares of Invitation Homes Inc., the giant single-family home landlord it launched following the financial crisis in a wager that many Americans would be willing to rent the suburban lifestyle they could no longer afford to own.
— Wall Street Journal
In the two years since private-equity firm Blackstone Group launched its suburban home management service, Invitation Homes, the company's stock has gone up by over 26%. During that same time, homeownership has fallen to its lowest levels since the mid-1990s, rents have edged upward in the... View full entry
The housing crisis in large cities, especially in Los Angeles, has been an ongoing issue. Currently, Los Angeles County is home to the second largest population of settled homelessness in the U.S. Local government and organizations aim to create solutions in order to combat the issue with a little... View full entry
A growing number of entrepreneurs are leading the way, challenging our antiquated housing system and creating new ways for housing to be more equitable and affordable across the board.
However, they need support navigating the complex policy environment and accessing the necessary capital. The Housing Lab will advise promising ventures while they evolve their business models and connect them with the industry leaders and capital to achieve greater scale.
— The Terner Center for Housing Innovation
In California, the collapse of proposed statewide legislation that would have eliminated single-family zoning and could have boosted density along transit corridors has left housing activists scrambling. While state legislators regroup to tackle the structural issues, like zoning, underpinning... View full entry
Seattle’s upzoning plan is set to take place throughout the city, but only 6 percent of single-family neighborhoods will be affected. These neighborhoods will be rezoned to allow for smaller, denser housing, while encouraging developers to keep existing structures and turn them into multifamily housing — like duplexes — in order to preserve a neighborhood’s aesthetic. — NBC News
Since 2010 Seattle's population has seen a hike of 16%, so have the rents and the property prices. And while real estate in the city is booming, little of the development is targeted towards the growing demand for affordable housing. Today 75% of Seattle's residential land is zoned for... View full entry
Hawaii and Honolulu laws require most new developments to set aside a certain percentage of units as affordable rental housing, but it’s not enough. In five years, Honolulu will still need thousands of additional new units. That has elected officials looking for other solutions to the problem, and some think they’ve found one in Singapore. — Marketplace
The housing proposal put forward by Hawaii State Senator Stanley Chang is called Affordable Locally Owned Homes for All, or ALOHA, and looks to replicate the public housing program of Singapore which has a comparable median household income. Marketplace's Ryan Finnerty reports that the "vast... View full entry
[...] Peter Barber, one of the most original architects working today. Over the past decade he has built a reputation for his ingenious reinventions of traditional house types and his ability to craft characterful chunks of city out of unpromising sites.
[...] He is a master of humane high-density, designing that rare thing: new housing that feels in tune with the grain of London, in the form of neither alienating slabs nor tacky towers, without resorting to pastiche.
— The Guardian
The Guardian's architecture critic, Oliver Wainwright, has nothing but praise for the award-winning firm Peter Barber Architects, a small practice that seeks to integrate social activism ideals when designing better, and more humane, housing for London. Holmes Road Studio, a whimsical housing... View full entry
The damage from the housing crisis — a toxic combination of frenzied buying, rampant construction, predatory lending and investment excess — was extensive. Of the 23,000 single-family homes in the 89031 ZIP code, more than 7,500 have had at least one foreclosure since 2006, according to Attom Data Solutions. — NYT
A team including; Matthew Goldstein, Robert Gebeloff, Ross Mantle and Matt Ruby released a deep dive into the community of North Las Vegas. The global financial crisis of 2008 impacted it greatly and though the local housing market has strengthened and it is today one of the fastest-growing cities... View full entry
As with every single other thing about Seattle, there’ve been some developments in residential design since 2008 [...] Here are five opportunities, in the form of developments in residential architecture over the past 10 years as identified — and expressed — by some plugged-in visionaries. — The Seattle Times
The Seattle Times tracked 5 developments in residential design addressing housing issues in the city. For each trend they spoke with an architecture professional working in the field. Below are Seattle's identified trends and some of the visionaries addressing them: 1. Multifamily Housing Moves... View full entry
Berlin has decided on a novel location to host some of the new apartments the city badly needs—on top of the old ones.
Yesterday, Berlin’s Senate announced a project to add more units on top of already existing buildings in the city’s east, with a possible capacity of up to 50,000 new homes. The plan to add floors isn’t novel in itself, of course, even in Berlin. What’s striking is the specific type of building chosen for the experiment: East Berlin’s Plattenbau.
— citylab.com
Ten years after the housing collapse during the Great Recession, a new and different housing crisis has emerged.
Back then, people were losing their homes as home values crashed and homeowners went underwater. Today, home values have rebounded, but people who want to buy a new home are often priced out of the market. There are too few homes and too many potential buyers.
— NPR
NPR takes a closer look at the impact of the housing affordability crisis in midsized, fast-growing cities, like Des Moines, IA, Durham, NC, and Boise, ID—far away from the usual, well documented housing hot spots of the big coastal cities. View full entry
