Everyone can agree that something has to be done about the chronic problems facing public housing in New York, with its $32 billion maintenance backlog — elevators out, heat and hot water out, toxic mold, pest and vermin infestations, and fiscal mismanagement, to start — and, in a city where the working class is priced out of the market — a 160,000-person waiting list. But politicians, residents, and advocates don’t always see eye to eye on what to do about it.
Curbed • October 5, 2020
Two of the largest minority-owned real estate investment firms in the country are teaming up to launch what they say is the first public real estate company dedicated to affordable housing.
California-based investor Avanath Capital Management and San Francisco's MacFarlane Partners filed paperwork with the U.S. Securities and Exchange Commission to launch a new real estate investment trust targeting $1.6 billion in investments.
The Real Deal • October 6, 2020
In the Covid-19 era, with construction of new affordable housing in the U.S. slowing to a crawl as a massive wave of housing instability looms, the scheme represents a potentially life-saving win.
Bloomberg • October 7, 2020
The perfect storm of affordable housing crisis is brewing right now: a threat made up of the already low supply that is hitting the increasing post-pandemic demand head on.
Before the pandemic, supply was an issue. The National Low Income Housing Coalition published the GAP report in late 2019 that shows a shortage of seven million affordable homes for low-income households at or below the poverty guidelines, or 30% of the area median income.
Forbes • October 12, 2020
Do presidential elections really impact housing? Normally, not so much, says Jody Kahn, SVP of research at John Burns Real Estate Consulting, which provides independent research and consulting services related to the U.S. housing industry.
But with political, social, and economic turmoil peaking this summer, Kahn says it’s more difficult to gauge how housing issues may fare under either the incumbent Donald Trump or his rival, Joe Biden, after the votes are counted.
Pro Builder • October 7, 2020