A housing disaster looms over Biden's HUD pick
President-elect Joe Biden has reportedly selected Ohio Representative Marcia L. Fudge to join his cabinet as head of the Department of Housing and Urban Development, the federal agency that will have a huge role in addressing the major housing challenges facing the incoming administration.
Fast Company • December 9, 2020
Investor Bill Ackman and NBA's Chris Paul back housing fund
An impact investment firm has won the backing of NBA All-Star Chris Paul and activist hedge-fund investor Bill Ackman, whose family foundations are investing in funds targeting America’s affordable housing shortage.
The Wall Street Journal • December 7, 2020
Facebook pledges $150 million to build affordable housing in the Bay Area
Facebook will focus $150 million to build 2,000 units of extremely low-income housing as part of the social media company's pledge in October 2019 to spend $1 billion on affordable housing in the San Francisco Bay Area. Facebook says this new Community Housing Fund would be the largest of its kind in California.
KQED • December 9, 2020
Forterra marries construction tech, co-op financing to open access to homeownership
A $2.5 million grant to design and build a modular housing unit prototype with cross-laminated timber (CLT) is fueling the latest project of Forterra, the Seattle nonprofit that applies innovations from elsewhere to problems at home.
Puget Sound Business Journals • December 6, 2020
Millions of Americans are heading into the holidays unemployed and over $5,000 behind on rent
Millions of Americans who lost their jobs during the pandemic have fallen thousands of dollars behind on rent and utility bills, a warning sign that people are running out of money for basic needs.
The Washington Post • December 7, 2020