A housing crisis afflicting American cities has been pricing people out of their neighborhoods for years and turned home ownership into an unlikely dream. And with the cost of living continuing to climb, low-income people and communities of color are suffering the most.
In Milwaukee, where home prices are up almost 10% from a year ago, one organization is trying to keep properties out of the hands of wealthy absentee property investors who are contributing to soaring prices....more
Earlier this month, Act Housing, a real estate nonprofit founded in 1995 to help low- and middle-income homeowners, introduced the Acts Homeownership Acquisition Fund. The fund’s goal is to buy up and then sell affordable homes for $90,000 to $140,00 that would cost new owners $900 to $1,200 in monthly mortgage payments....
Ken Notes: The key is land ownership. I hope communities can acquire land and control the development of affordable workforce housing... The Act Housing plan here is a great start....
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- - Volume: 10 - WEEK: 35 Date: 8/25/2022 7:59:29 AM -