Summary
This document provides news and information about housing trends, challenges, and innovations as of 2024.
The current housing crisis is global. However, this document is focused on the U.S. housing market, with some news from Canada.
People struggling to afford housing are getting multiple jobs, living in poorer quality conditions, and getting several housemates to split the costs.
News
CBC News (22 Sep 2024)
“I still live with my ex because of housing costs” — Tammy Nelson split up with her husband 15 months ago, but Calgary’s expensive rental market means they’re still living together. This video is part of CBC First Person, which features personal stories and experiences of Canadians in their own words. [Source]
WKMG (20 Sep 2024)
“Orlando family evicted from affordable housing complex despite overpaying” — A mother and her children faced eviction from their affordable housing unit in Orlando last month despite overpaying her rent by more than $1,000. [Source]
CBS (19 Sep 2024)
“Unable to afford a home, some turn to built-to-rent communities” — With home prices and interest rates remaining stubbornly high, many people who believe they will never be able to afford a home are turning to built-to-rent communities. Kris Van Cleave explains. [Source]
NBC (19 Sep 2024)
“A major U.S. city where rents are falling? Minneapolis’ big push to build housing” — The number of home sales have dropped, sending prices to a record high. But a plan in Minnesota, known as Minneapolis 2040, is helping to build more affordable housing even though it has faced a fair share of controversy. [Source]
CBS (18 Sep 2024)
“How the “YIMBY” movement seeks to address America’s housing crisis” — Due to a nationwide shortage, many prospective homeowners have been unable to get into the home of their dreams. A growing nationwide coalition of pro-housing advocates part of the “YIMBY” movement believe more building density can solve the problem. Ash-har Quraishi explains. [Source]
MPU (18 Sep 2024)
“Private Equity’s Ruthless Takeover Of The Last Affordable Housing In America” — Mobile homes are one of the last remaining affordable housing options in America. Now they’ve become private equity’s latest target. Private equity firms now own at least 1200 parks nationwide. And residents have seen their rents spike by as much as 100% in the last 6 years. [Source]
ABC Bay Area (30 Aug 2024)
“Here’s why a San Francisco landlord is purposely keeping commercial rents low for businesses” — One San Francisco landlord from the Inner Sunset District is keeping rents low for his business tenants. We look into how and why. [Source]
CNBC (25 Aug 2024)
“Why The U.S. Can’t Build Homes Fast Enough” — Large homebuilders have used mergers and acquisitions to grow their positions in several key housing markets since the 2008 subprime mortgage crisis. The industry’s consolidation coincides with a slowdown in construction productivity and contributes to escalating prices for buyers and renters, experts say. As an economic tightening cycle initiated by the Federal Reserve freezes real estate development, politicians are promoting policy tools that could alter how homes are built in the U.S. [Source]
CNBC (9 Jul 2024)
“Housing prices rise despite more supply: Here’s why” — CNBC’s Diana Olick joins ‘Squawk Box’ to discuss the housing supply impact on prices. [Source]
Strong Towns (23 Apr 2024)
“We Are In A Housing Trap. Can We Escape?” — Housing is an investment. And investment prices must go up. Housing is shelter. When the price of shelter goes up, people experience distress. Housing can’t be both a good investment and broadly affordable—yet we insist on both. This is the housing trap. [Source]