The county’s mayor has declared housing affordability a crisis as costs in South Florida cities rise by as much as 30 percent.
Justin Matthews of the Associated Press reports on Miami-Dade County's housing affordability problem, which, according to the county's mayor, has reached crisis proportions.
Mayor Daniella Levine Cava noted that rents in the county rose by 30 percent over the last year, squeezing households and businesses. The mayor announced a $13 million investment in rental assistance and promised further action from the county's cities and towns.
Other South Florida cities, including Tampa, Fort Myers, and Orlando are experiencing similar cost spikes. Experts say that while rents tend to remain more stable than home prices, the pandemic led to the more drastic increases in rents in the last year as housing construction slowed due to supply chain issues and more people relocated to Florida.
FULL STORY: Miami-Dade mayor declares housing affordability crisis as rent jumps 30% since last year
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Housing costs across the country are becoming more and more unaffordable for low- and moderate-income households, a trend that began even before the COVID-19 pandemic.
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The way apartment buildings are financed has a major impact on supply and costs.
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A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
Ohio Lawmakers Propose Incentivizing Housing Production
A proposed bill would take a carrot approach to stimulating housing production through a grant program that would reward cities that implement pro-housing policies.
Chicago Awarded $2M Reconnecting Communities Grant
Community advocates say the city’s plan may not do enough to reverse the negative impacts of a major expressway.
New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
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