Housing News Roundup: February 27, 2015
Missouri Report: Create Low-Income Housing in Better Neighborhoods
A new study, conducted after the national uprising in Ferguson, suggests that the Missouri tax credit program used to fund affordable housing units should be redirected toward building smaller units in higher-opportunity areas. Concentrating low-income housing in poor neighborhoods has exacerbated crime and accelerated community decline, the study says.
Source: St. Louis Post Dispatch
Home Improvement is Surging to Pre-Recession Levels
Buy a new home, or fix up the one you’re in? The answer to this question greatly impacts the shape and stability of American neighborhoods. Though sales of new single-family homes are at their highest level since 2008, they remain well below pre-recession levels. New data also show that people are now spending as much on home and garden supplies and tools as before the recession — a significant shift from recent years. Typically home improvement and home sales move together, but these trends imply that the home improvement market is recovering better than home sales.
Source: Wall Street Journal
With Government Help, Millions of Kids Escaped Poverty Between 2011-13
Housing subsidies and other government assistance programs kept more than 11 million children out of poverty between 2011 and 2013, according to a new report from the Annie E. Casey Foundation. Other critical state and federal programs helping to reduce those rates include earned income tax credits, as well as food and energy assistance.
Source: The Boston Globe
Lack of Workforce Housing is Holding Back Minnesota Economic Growth
Minnesota has a problem that is all too familiar across the nation: Scarce workforce housing is crimping productivity. “When businesses are unable to expand or hire workers because of the lack of workforce housing, the entire community feels the loss of missed opportunity,” two businesses leaders wrote in an opinion piece. And when people can’t find sound housing, businesses have trouble keeping good people and look to move elsewhere.
Source: Grand Forks Herald