Developer aims to raise $1 billion for investing in minority communities
A California developer is trying to raise $1 billion to invest in Black and Latino communities. If successful, it would be one of the largest commercial real-estate funds ever to focus on minority neighborhoods.
The Wall Street Journal • December 1, 2020
Congress needs to provide eviction and mortgage relief now before the coming crisis
With a national eviction moratorium and broad mortgage forbearance, Congress initially prevented a wave of economic distress, saving vulnerable families from choosing between paying their rent or their mortgage and putting food on their table. That relief, however, will soon expire. Evictions will resume in January, and those who were first to receive forbearance will have to begin paying their mortgages again in March.
The Washington Post • November 30, 2020
More Americans pay rent on credit cards as lawmakers fail to pass relief bill
With their savings running out, many Americans are being forced to use credit cards to pay for bills they can't afford — even their rent. Housing experts and economists say this is a blinking-red warning light that without more relief from Congress, the economy is headed for even more serious trouble.
NPR • November 30, 2020
Microsoft pitches in an additional $65 million for affordable housing
Microsoft will make two loans totaling $65 million to local housing groups with the goal of creating more than 1,000 new affordable housing units in the Seattle area, the company announced Thursday.
The Seattle Times • November 19, 2020
A Manhattan rental recovery?
One of the big questions the coronavirus pandemic has raised in New York is whether the Manhattan rental market can ever fully recover. Eight months in, there may be some light at the end of the tunnel.
The number of new leases signed in Manhattan increased in October for the first time since July, according to The Elliman Report, which tracks the New York housing market. In all, 5,641 new leases were signed in the borough, 12 percent more than were signed in September, and 33 percent more than last September. This sounds good. Is Manhattan back?
The New York Times • November 19, 2020