June 25, 2015
- Capital New York reports another study which finds that non-whites are at a disadvantage when it comes to securing a home loan, this is more pronounced in the conventional loan market (less so for FHA loans). Includes an interactive chart which breaks down the stats by borough.
- Harvard’s Joint Center for Housing Studies’ Annual State of the Nation’s Housing 2015 reveals historic lows in homeownership rates, and a corresponding “rental boom,” a shortage in supply for single family dwellings, and an increasingly severe rental affordability problem.
- National Association of Realtors’ release of Existing Home Sales statistics for May reveal a strong rebound over April, in fact sales are strongest they have been in 6 years, with first time homebuyers making up the biggest portion of buyers.
- NYU Furman Center’s new working paper – Utility Allowances in Federally Subsidized Multifamily Housing – advocates four policy changes which would help HUD increase energy efficiency in the properties it subsidizes. These include, 1. Incentivizing owners to switch to individually metered units; 2. Incentivizing owners to make energy saving upgrades; 3. Provision of utility allowances that are affordable but make recipients bear the cost of consumption; 4. Provide information about relative utility costs to increase tenant purchasing power.