People can’t afford to be poor in Portland, Oregon. Nearly half of the households that rent in the Portland metro area pay too much. Almost one-quarter (24.3 percent) of these households are severely cost burdened, meaning half of their household income goes to keeping a roof over their heads. The median income of Portland metro homeowners is nearly twice that of renters: $81,900 versus $41,600, per a new Harvard report on housing. Oregon has decided to do something to boost affordable housing in the state. A new law before the legislature has opened unexpected fault lines in the already fractured political debate over housing costs. The bill represents something of a mixed blessing for affordability boosters: it’s designed to remove barriers to new construction, but at the cost of local authority.
Homebuilding was down across Southern California in the first three months of 2017, but nowhere more than San Diego County, said a Real Estate Research Council report released Monday.
Residential building permits were down by 10 percent in the seven-county region compared to the same time last year and 37 percent in San Diego County.
In yet another sign of L.A.'s growing poverty and lack of low-income housing, local officials are preparing for a torrent of applications when they open up the wait list for federal housing aid later this year.
The city stopped taking applications for Section 8 housing over a decade ago because there were too many people already waiting for the limited rental assistance vouchers.
Last time L.A.'s waitlist opened, in 2004, about 300,000 people applied. When the process opens for a two-week window this year, officials are expecting at least twice that number. As a result, only a fraction of people who apply will make the cut.
Roughly three million potential first-time home buyers have been shut out of the market over the last decade, according to a new study, suggesting the market’s recovery of the past few years could have been stronger.
Tight lending standards and acute shortages of affordable housing in many markets have reduced the pool of potential buyers, particularly among young people, reducing a key component of housing demand.
Los Angeles County’s homeless population has soared 23% over last year despite increasing success in placing people in housing, according to the latest annual count released Wednesday.