October 20, 2022

On Monday, Gainesville became the first city in Florida to outlaw single-family zoning. Some homeowners are concerned it will affect neighborhoods composition or safety, but advocates say it will help address the dire housing crisis. “I am voting for people to have the opportunity to have families,” said commissioner Reina Saco.

As interest rates rise, homebuyers are turning to potentially riskier types of loans—such as 2-1 buyouts and interest-only mortgages—that generate higher monthly payments. Industry experts don’t expect another mortgage crisis like the one in 2008, but consumer advocates warn against these less typical loans. “I’m feeling more and more of the urgency as opposed to people sitting on the sidelines to see what happens with prices,” said Nick Holeman, director of financial planning at Betterment.

As interest rates rise, homebuyers are turning to potentially riskier types of loans—such as 2-1 buyouts and interest-only mortgages—that generate higher monthly payments. Industry experts don’t expect another mortgage crisis like the one in 2008, but consumer advocates warn against these less typical loans. “I’m feeling more and more of the urgency as opposed to people sitting on the sidelines to see what happens with prices,” said Nick Holeman, director of financial planning at Betterment.

Adults ages 65 and older were the only age group that experienced an uptick in the poverty rate last year— increasing the likelihood they will experience housing insecurity. “The support system we crafted for older adults largely presumes that there is a steady and stable place to call home, and one of the things we fight for regularly is ensuring that the people who don’t want and don’t have to go into nursing facilities can stay in the community,” said Denny Chan, managing director of Equity Advocacy for Justice in Aging. “Unfortunately, the system assumes there is housing security to begin with.”