News Roundup

  • Americans Face Escalating Hidden Costs of Homeownership
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    The cost of owning a home in the US has surged, with homeowners now paying an average of $18,118 annually on expenses like property taxes, insurance, and maintenance—a 26-percent increase since 2020. These added financial burdens are further stretching homebuyers’ already tight budgets, making ownership increasingly unaffordable.

  • Rising Insurance Costs Jeopardize Affordable Housing
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    High insurance costs associated with climate disasters are threatening affordable housing projects across the country. Some developers have seen premiums quadruple, straining budgets and halting new projects. To address this, developers and governments are considering alternative insurance models, subsidies, and legislative changes.

  • Berkeley’s People’s Park to Be Converted into Student Housing
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    The California Supreme Court ruled in favor of converting Berkeley’s People’s Park into student housing for the University of California, ending a long legal battle. The decision dismissed claims against the development. UC Berkeley plans to build a $312 million housing complex for about 1,100 students on the three-acre park.

  • Birmingham’s Truancy Program Sees Major Success
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    The Every Day Counts Initiative by Birmingham City Schools and the Housing Authority of the Birmingham District (HABD) saw significant success in combating truancy. Last month, 196 households were eligible, compared with only 3 at the start. HABD has awarded more than 50 families $300 off their rent, totaling over $15,000. Program officials hope to continue the program for the entire school year in the future.