Lookout Local’s Post

Cotino, a Disney-branded development, will include homes, with some costing over $2 million. The development arrives in the Coachella Valley as the region's housing and rental prices have continued to trend upwards, which may contribute to an already dire situation if it doesn't include affordable units. From 2010 to 2020, median rental prices in the valley increased by roughly 20%, while median household incomes dropped by about 10%. “Just from a simple math equation, the cost of housing is too high, and folks aren't earning a wage that supports housing,” Lift to Rise CEO Heather Vaikona told The Desert Sun. Read the article here: https://lnkd.in/gmybdSqv

Veteran Housing Corp points out that not only are most Americans rent-burdened (spending more than 30% of their income on housing) but the younger generations are having to move back in with their parents and many parents who are supporting their children are risking their retirements to do so! The number one priority for all local, state, and federal officials should be to find a permanent solution to the affordable housing crisis facing most Americans and quit wasting taxpayer money on bank-aid fixes that are temporary and short-lived! Parents Are Risking Their Retirements to Support Adult Children https://lnkd.in/extbt-s9

In an already challenging year for tenants, rent grew faster than property prices with Brisbane’s median hitting $600 a week for the first time according to the latest PropTrack market insights report: Q Shelter Policy Manager, Jackson Hills commented on the report - “Queensland is in a period of severely low rental availability, record high rental prices, and an escalating rate of unmet housing need. “We have long been calling for a reasonable approach to rental market intervention measures to achieve a ‘healthy housing system’ overall. Obviously, the single biggest impact we can make is a substantial boost to housing supply. While supply strategies are in the pipeline, we need other interventions to protect people from the risk of homelessness. We also look forward to seeing the Queensland Government’s response to submissions to Stage 2 rental reforms early in the new year.” https://lnkd.in/gcS77ijh

Everyone keeps talking about ‘affordable housing’ solutions based on some form of subsidised rental arrangement whether directly through government or via a Housing Association for those stuck in the rent cycle. What I think we’re not having enough of a discussion about, is what are we doing for a good, honest, hard working couple with or without young children, who want to buy a place that’s close enough to their family and existing community. Based on what I can see, we have a two fold problem - delivery prices have gone up massively and people can’t afford to borrow as much in higher (dare I say it more normal) interest rate environment. What that means at a general level, for anything within 10kms of the Melbourne cbd, a 1-bedroom apartment must cost around $750k, a 2-bedroom costs more than $1m to deliver and a 3 bedroom apartment has to cost more than $1.6m. Those prices only work in a handful of subrbs - the absolute top tier, crème della creme, but can’t be sustained at mass on other good quality suburbs. So if the only way to make the projects stack up is to see prices go up, but yet people can’t afford the prices, don’t we have a huuuge problem!

It's going to take an "all of the above" approach to solve the housing crisis, and I believe ADU's must be a key part of the solution! Proving more affordable housings options, and making existing homes more attainable via supplemental rental income. #housing #housingcrisis #housingforall https://lnkd.in/ge9VPkFm

Moreover, the insufficient availability of rent-controlled units may intensify the competition among renters, making it harder for those with lower incomes or limited renting track records to find affordable housing. Read more 👉 https://lttr.ai/AMvRu #RentControl #LandlordTips #ForCREInvestors

When does the quality of private rented housing impact the quality of a tenant's life? According to an article from The Guardian's sister paper, The Observer, a recent survey by the Department for Levelling Up, Housing and Communities revealed that half of all mould reports in private rental housing go unanswered by landlords. With the cost of living crisis already putting a strain on renters, what steps can we take to offer them a better standard of living that's still affordable? Contact our team today to learn more about investing in high-quality buy-to-let modular homes 📞 #Landlords #CostOfLivingCrisis #PrivateRental #CCGEyeOnIndustry

The National Residential Landlords Association (NLRA) has called on all political parties to put more focus on coming up with solutions to the shortage of homes for private rent. See their comments in this article in PropertyWire - https://lnkd.in/eMCUH9nD. #propertymanagement #landlords #privatelandlords #privaterentalsector #privaterentedsector #buytolet #rentalproperty #attractingtenants #investmentproperty #letting #lettingagents #privatetenants #tenants #rentalregulation #lettinglegislation

Client question: What's the latest on California statewide rent control? Answer: Another 2024 November ballot measure to overturn Costa-Hawkins Overview: - “Justice for Renters” Act seeks to overturn the Costa-Hawkins Rental Housing Act - Costa Hawkins act exempts single-family homes and properties built after 1995 or earlier if they were in cities with rent control when Costa Hawkins passed - Costa-Hawkins also enshrines the principle of vacancy decontrol, which permits landlords to reset rental prices to current market rates once a tenant vacates a unit, which ensures there is a return on the investment and that the owner can engage in property maintenance and improvements Who's behind this ballot measure?: - Anti-housing activist Michael Weinstein and his organization, AHF - Weinstein’s previous attempts to undo Costa-Hawkins via Propositions 10 and 21 went down in utter defeat Potential outcomes of repealing Costa-Hawkins: - If Justice for Renters Act passes: return to extreme rent control policies (see cities like Berkeley, San Francisco, and Santa Monica) - Rent control policies reduce the availability and quality of rental units and deter the development of new rental housing and any additional private investment in upgrading and maintaining quality units - Rent control policies hurt the very renters it purports to protect - Stricter rent control leads to reduced maintenance and improvements in existing rental properties, as landlords find it economically unviable - Renters will face challenges in finding quality housing, and those seeking new accommodations will encounter heightened rental prices as the supply for any uncontrolled units become scarcer - Reduced turnover in rent-controlled units limits housing mobility, making it difficult for families to find appropriately sized homes. More to come between now & November...many thanks to CAA for their industry advocacy & frequent updates on this topic! https://lnkd.in/ghx-KjQy #cbre #cbremultifamily #cbrecapitalmarkets #californiarealestate #california #rentcontrol #costahawkins #election2024

#Jamestown's proposed rental inspection ordinance aims to improve housing conditions by requiring rental properties with two or more units to register with the city and get a certificate of occupancy. This involves a $50 inspection fee and a $25 reinspection fee, with a $50 fine per unit for #landlords who don't comply within a year. The ordinance seeks to address the city's poor housing conditions, recognizing that the blame doesn't lie solely with landlords or #tenants. #Chautauqua #HousingOrdinance #SafeHousing https://lnkd.in/eXzVD-_r