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Apartment Rents Reach Highest Level in Two Years
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By Les Shaver | June 17, 2021
GlobeSt.com
 
With vaccinations increasing, the rental market is taking off.
 
Monthly rents jumped 5.5% year-over-year to an average of $1,527 in May, according to the Realtor.com Monthly Rental Report.
Biden Proposes $5B To Bring Multifamily To Areas Zoned For Single-Family Housing
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Matthew Rothstein, Bisnow East Coast
 
Though it isn't remotely the top-line item, President Joe Biden's infrastructure bill includes a provision that encourages the use of zoning reform to aid housing affordability.
Why it's not easy to build affordable housing in California
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Dan Walters
dan@calmatters.org
 
In summary
While Gov. Gavin Newsom renews his pledge to attack California’s housing crisis, a bureaucratic mess and labor union demands are impediments to construction.
Even With Rental Assistance Multifamily Is Still At Risk
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New research from Fitch Ratings raises questions about the extent to which rental assistance under the American Rescue Plan will keep apartment delinquencies low.
 
Fitch analysts say it’s tough to estimate the amount of unpaid back rent despite current mortgage delinquency levels for affordable housing providers being low and only slightly up from pre-COVID levels.
Todd Gloria Co-Authors Assembly Bill to Bring Back Redevelopment Agencies
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[California] Assemblymember Todd Gloria is co-authoring a bill to bring back redevelopment agencies in California in an effort to build more affordable housing.

Assembly Bill 11 would allow cities and counties to create agencies that could use property-tax financing to fund affordable housing and infrastructure projects.
 
Salinas considering law limiting renters in homes
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SALINAS, Calif. - A proposed ordinance in Salinas could affect the many farm workers who get housing by renting rooms in neighborhoods...
 
California Deal Utilizes Income-Averaging Option
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Eden Housing is using the new income-averaging option in the low-income housing tax credit program to help preserve and rehabilitate the Charles Apartments in Marina, Calif.
 
California housing measures offer hope for high-cost Salinas
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Salinas — known as "Salad Bowl of the World" — is one of America's least affordable places to live, exemplifying a housing crisis that plagues California's rural and urban areas alike. Salinas families earn a median income of $69,000, while the region's 90,000 farmworkers bring in far less. They face a median home price of nearly $550,000 and two-bedroom apartments costing roughly $1,800 a month, according to Zillow.

2 measures would raise record-breaking $6 billion for affordable housing
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Two years after voters approved billions of dollars to fund low-income homes around California, affordable-housing advocates are upping the ante big-time — with two statewide bond measures on the Nov. 6 ballot to raise a record-breaking $6 billion for housing for struggling families, veterans and severely mentally ill people.
 
Why Housing Research Adds Value across Disciplines
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Yesterday, vice president and chief innovation officer of the Urban Institute, Erika Poethig, testified before members of the US House of Representatives to share evidence on the impact of regulations on the development of affordable multifamily rental housing. Poethig noted that many housing regulations stem from efforts to protect public health and well-being, and she highlighted research illustrating that while reducing regulations can lower costs and address economic and racial segregation, nothing can substitute for rental subsidies to close the gap for extremely low–income households.
 
California Central Coast struggling with housing, poverty
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Fifty-six percent of Central Coast workers are struggling with poverty, PRRI found, higher than the state average but tied with the Sacramento Valley and behind only the San Joaquin Valley. Census data found close to one in five Salinas residents are actually in poverty.

Housing Crisis Hitting Cities, Working Americans Harder Than Ever Before
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Ten years after the Great Recession roiled the global financial system and sent the American economy into a tailspin, the U.S. has roared back to boast an unemployment rate below 4% — a figure not seen since the 1960s.
 
Yet, despite the influx of jobs, wage growth has remained stagnant, leaving millions of middle-class Americans without savings, living paycheck to paycheck as they continue to fight for what generations before have taken for granted: decent, affordable housing.
The Bipartisan Cry of ‘Not in My Backyard’
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The housing secretary wants to encourage mixed-income, multifamily development as a way of making housing more affordable. But it’s a notion homeowners of all political leanings tend to oppose.

Senate Tax Proposal Protects Critical Affordable Housing Resources but Fails in Other Critical Areas
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Across the nation, there are just 35 homes affordable and available to every 100 extremely low income families. Due to chronic underfunding of critical affordable housing programs, three out of four low income households in need are turned away from receiving assistance. Most of these families pay more than half of their incomes on rent with little left for other basic necessities like food, medicines, daycare, and transportation. They live on the cusp of homelessness or are one of the half-million people who have no homes.
RISING RENTS TOO HIGH FOR HUD VOUCHERS
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Federal housing vouchers for low-income renters are too low to cover the market rent in many of the nation's job centers, according to a data analysis from Zillow.
 
United Way joins Housing Trust as investor for local affordable housing projects
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The United Way of Monterey County has committed $200,000 to the Monterey Bay Housing Trust to be put toward the Monterey Bay Economic Partnership’s goal of raising $2 million for affordable housing loans.
 
Banks to Trump: Spare affordable housing programs
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The Trump administration's budget for fiscal 2018 calls for slashing HUD's budget by 13% from current levels, largely by eliminating the Community Development Block Grant program and the HOME Investment Partnerships Program.
 
The two programs have combined to support the construction and rehabilitation of millions of affordable housing units since their inception, and if they are eliminated, many projects might never get off the ground, bankers say.
 
Do Communities Adequately Plan for Housing?
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California’s cities and counties make most decisions about when, where, and to what
extent housing will be built. For decades, many California communities—particularly coastal
communities—have used this control to limit home building. As a result, too little housing has been
built to accommodate all those who wish to live here. This lack of home building has driven a rapid
rise in housing costs.
 
CA -- SANTA CLARA COUNTY MANDATES LANDLORDS TAKE SECTION 8
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Grasping for solutions to Silicon Valley’s affordable housing problem, Santa Clara County leaders approved a requirement Tuesday [2/7/2017] that landlords starting next year must make their properties available to poor renters who pay with the federal subsidy vouchers known as Section 8.
 
California’s affordable housing crisis must be addressed
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California’s Department of Housing and Community Development has issued a new assessment of the state’s housing challenges, reporting that California families face a harder time finding a place to live than at any point in our history and that homeownership rates in California are at their lowest since the 1940s.
 
As farmers in the West face labor shortages, some are finding that providing affordable housing is key to getting the help they need.
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Tanimura & Antle vegetable farm in California’s Salinas Valley was in a bind for the 2015 harvest season. It was more than 225 workers shy of the number needed to gather crops, and it had to plow under about $500,000 worth of produce.
Thinking the shortfall was caused by crackdowns on illegal immigration, the company tried what it thought was an obvious solution: make it legal. Tanimura & Antle turned to a visa program called H-2A, which allows temporary agricultural workers to cross the U.S.-Mexican border and work during harvest season. The visas require employers to provide housing, so the company started the process in 2015 by spending $17 million to build 100 apartments for workers near its headquarters here in Spreckels, near Salinas.
Legislature to chip away at big issues: Lawmakers: Democrat supermajority prioriti g housing, transportation
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To meet pent-up demand while preparing for future growth, the state needs an estimated 3.5 million new homes by 2025, according to a press release from Chiu.
 
The centerpiece of the package includes the Bring California Home Act, which seeks to provide an ongoing funding source for affordable housing by eliminating tax breaks on vacation homes. Estimated to generate $300 million a year, the proceeds from charging those who can afford second homes would be allocated toward the state’s Low Income Housing Tax Credit.
 
MONTEREY COUNTY HOUSING AUTHORITY DEVELOPMENT CORPORATION CELEBRATES COMPLETION OF DAI-ICHI VILLAGE
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The Monterey County Housing Authority Development Corporation (HDC) has successfully completed redevelopment of ten public housing units in the Japantown area of Salinas. Dai-Ichi Village, a 41-unit development located at 30 East Rossi Street, is Japantown’s first senior affordable housing development and will open to residents in November.
Bill to Expand Affordable Housing for Teachers Signed by Governor
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A measure ... to expand affordable housing options for teachers was signed by Governor Brown today. SB 1413 will help California retain quality educators by allowing school districts to establish housing for teachers and employees on district-owned property.
 
HOW A SALINAS HOUSING CRUNCH IS AFFECTING THOUSANDS OF RESIDENTS
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... atypical living conditions have become the new normal in portions of Salinas, where there are a myriad of stories of people sleeping under leaky roofs and in homes with broken smoke and carbon monoxide detectors. Another concern is the growing network of people forced to share homes with drug users and gang members, or that become victims of landlord exploitation.
 
LOW-INCOME FAMILIES CONTINUE TO STRUGGLE TO FIND A PLACE TO LIVE ON THE CENTRAL COAST
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The Housing Authority of Monterey County said thousands of people are waiting to find affordable units, but competition is fierce.
 
"The vacancy rate in Monterey County since I've been here has gone from 4 percent vacancy rate to like 1.85 now,” said Joni Ruelaz the housing programs manager.
 
OBAMA ADMINISTRATION UNVEILS PROPOSED CHANGES TO SECTION 8 SUBSIDY PROGRAM
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The Obama administration on Wednesday proposed sweeping changes to the biggest federal subsidy program for low-income renters in an effort to encourage more poor renters to move to wealthier neighborhoods.
 
The changes in the Section 8 voucher program would give a bigger subsidy to tenants in expensive neighborhoods, helping them make up the difference between what they can afford and the high rents in areas that often have better schools and transportation.
 
But it would decrease subsidies in poorer neighborhoods, a move that landlords and tenant groups warned would increase evictions or force lower-income families to pay more for rent.
Unions' fight against affordable housing
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Gov. Jerry Brown recently proposed reforming the state’s California Environmental Quality Act by allowing new housing projects with at least 20 percent on-site affordable housing to bypass the law’s cumbersome environmental impact process and be approved “as of right.”
...
One would think that California’s labor unions would be quick to hail Gov. Brown’s reform. After all, construction means employment for many unions...
...
...however, some unions chose political self-interest over the general welfare of their members and came out against Gov. Brown’s reform...
 
Wage Required for a 2 bedroom Apartment
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This year the national two-bedroom Housing Wage, the hourly wage a full-time worker must earn to afford a modest two-bedroom apartment while spending no more than 30% of household income on rent and utilities, is $20.30 per hour.
 
Country Faces Overwhelming Need for Affordable Seniors Housing Options
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A recent study... reported that the percentage of seniors who need affordable housing is rising faster than the increase in the elderly U.S. population. Between 2005 and 2014, the overall population of seniors aged 65 and older increased by 25 percent nationwide, from 22.5 million to 28.1 million, while the number of seniors paying more than half of their household income, before taxes, toward rent and utilities shot up by 34 percent, from 1.4 million to 1.8 million.
Salinas tops list of California cities with fastest growing rents
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Salinas posted the strongest year-over-year increase of California cities with the fastest growing rents at 15.1 percent over December 2014. The national figure is 2.6 percent and it is 4.9 percent for the state.
 
Lack of affordable housing threatens California economy
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Housing for all Californians is critical to our state’s economy and accessibility....Recently, California’s highly respected Legislative Analyst’s Office issued a report that found the state’s average housing costs are 150 percent higher than the national average and that we need to build 100,000 more units more per year to help control rising costs in home affordability.
 
For the complete text of this article press here.
Livable Wages in Monterey County
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There are 39 categories in Salinas that fail to earn a livable wage, compared to 82 categories that do.
 
For more of this Californian article, press here
Addressing Affordale Housing
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Access to decent, affordable housing is so fundamental to the health and well-being of
people and the smooth functioning of economies that it is imbedded in the United Nations
Universal Declaration of Human Rights. Yet in developing and advanced economies alike,
cities struggle with the dual challenges of housing their poorest citizens and providing
housing at a reasonable cost for low- and middle-income populations.
Salinas seniors face housing crisis
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Housing costs in Monterey County are notoriously out of synch with income levels, but for the most vulnerable populations, the problem is reaching crisis proportions, say those working to keep people in their homes.
 
HUD questions Monterey's senior housing project
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The U.S. Department of Housing and Urban Development has threatened to make the city repay about $1.34 million granted the city in 2001 and 2002 to buy five parcels in the 600 block of Van Buren Street for a low-and moderate-income senior apartment project.