Housing News Roundup: April 20, 2015
N.Y Public Housing Residents Still Awaiting Long-Promised Supermarket
Five years ago they were promised a supermarket where they could buy fresh fruits and vegetables. They’re still waiting. Residents of the Farragut Houses, a housing project in northwest Brooklyn, live on an average of $21,000 a year. And they do so in a community with a Chinese restaurant, a handful of bodegas and a small grocery store with a limited supply of produce. Some residents pay a premium in cab fares to stock their pantries once a month, but this answer is both expensive and not an answer at all when it comes to perishables.
Source: New York Times
D.C. Area Land Prices Hinder Development of All but Luxury and Condos
The Washington, D.C. area isn’t anywhere close to on track to meet its future housing market needs, especially in terms of affordable housing. “We’re only adding 10,000 to 12,000 new single-family homes per year, which is a mismatch that could cause rampant price increases if job growth ramps up as anticipated,” said David Versel, a senior research associate at the Center for Regional Analysis at George Mason University. “Land prices in this area are so expensive that builders need to either build a luxury product or high-density condos because we’ve simply run out of land, especially in Arlington, Alexandria and Fairfax County.”
Source: Washington Post
The Heavy Toll of Transportation on the Middle Class
Middle-class Americans spend far more, percentage-wise, on transportation costs than do people living in the nation’s poorest and richest households, according to an analysis of new data from the Bureau of Labor Statistics. Breaking down household expenditures by deciles, people in the fifth and sixth deciles spend about 19% of their income on transportation, compared with about 14% of income for the lowest decile and about 16% for the top decile. Analysts suggest that sprawling development, city housing affordability, poor transit investment and car-reliance is responsible for the disproportionate share.
Study: Segregation More Important than Income When Assessing a Neighborhood’s Quality
An area’s level of segregation is even more significant than its income levels when it comes to estimating the quality of schools, personal security, employment networks and access to public resources, according to a new report. The Federal Reserve Bank of Cleveland found that “[N]ot all low-poverty neighborhoods are created equal: For several of the important characteristics that determine neighborhood quality, black low-poverty neighborhoods are more comparable to white high-poverty neighborhoods than to white low-poverty neighborhoods.”
Source: Next City
AARP Identifies the Best Neighborhoods to Live In, Age in Place
The AARP has released a new tool to help residents find the country’s most livable neighborhoods while giving city officials and planners guidance on how to build communities where people can age in place. The Mifflin West neighborhood of Madison, Wis., and Manhattan’s Upper West Side are among the nation’s best, according to the AARP Livability Index, which factors in housing, health, environment, transportation options and proximity to jobs, among other areas of importance.
Source: USA Today