The construction industry is building less "attainable housing" than demanded by the market.
The Urban Land Institute’s (ULI) Terwilliger Center for Housing and real estate consulting firm RCLCO released a new report exploring the "shortage of housing affordable to moderate-income home buyers, including first-time buyers, and offers solutions to increase the supply," according to an article by Brenda Richardson.
The report defines "attainable housing" as "non-subsidized, for-sale housing that is affordable to households with incomes between 80 and 120 percent of the area median income." Given that definition, the report finds that "very little non-subsidized home-building activity is geared toward the middle-class price point."
Still, there are signs that the market is starting to respond to demand at the "attainable" price point. "Innovations are coming from publicly held home builders, developers of master-planned communities, neighborhood-based real estate investors and a new breed of entrepreneurs from other industries, the report states," according to Richardson.
The new report joins recent analysis from Brookings that examines housing stress in the middle class of the United States in providing new insights into the post-Recession housing market for earners historically primed to enter the home buying market.
FULL STORY: Affordable Housing Is Doable For Builders And Buyers, But Here's The Problem
Checking in With the Wild Pandemic-Era Housing Market
Bidding wars, TikToks, and disparate impacts—every day there's more evidence that the pandemic has only worsened the nation's housing affordability crisis.
Double-Digit Housing Price Increases Tied to Supply Imbalance in Denver
Expensive homes dominated the metro Denver real estate market in 2020.
New Market-Rate Housing Lowers Rents for Everyone, According to New Research
A study published by a German researcher adds ammunition to the cause of improving housing affordability by legalizing and building new supply.
Montreal Mall to Become 6,000 Housing Units
Place Versailles will be transformed into a mixed-use complex over the next 25 years.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
DARTSpace Platform Streamlines Dallas TOD Application Process
The Dallas transit agency hopes a shorter permitting timeline will boost transit-oriented development around rail stations.
Study: 4% of Truckers Lack a Valid Commercial License
Over 56% of inspected trucks had other violations.
Chicago Judge Orders Thousands of Accessible Ped Signals
Only 3% of the city's crossing signals are currently accessible to blind pedestrians.
Philadelphia Swaps Car Lanes for Bikeways in Unanimous Vote
The project will transform one of the handful of streets responsible for 80% of the city’s major crashes.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Mt Shasta
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)