Mike Dirks’ Post

🌴 A recent article sheds light on Florida's affordability crisis, attributing it to two key factors: insufficient wages and a scarcity of suitable housing options. 📈 Monthly rents are rising faster in Miami, Orlando and Tampa than almost any other area of the country. 👨👩👧👦 Affordable housing options are crucial for ensuring equitable access to shelter and promoting community resilience. 🏘️ With multifamily complexes and manufactured home communities, we can address economic challenges while providing safe and affordable homes for all. 📄 Read the full article: https://shorturl.at/pyFQ9 #VerticalEquityPartners #FloridaHousing #RealEstateInvesting

TORONTO'S HOUSING CRISIS - HOW WE GOT HERE AND HOW TO FIX IT The GTA housing crisis has been decades in the making. Turning it around requires radical change to how we view future housing, how goverments approach the problem, and how homes are built. There is much to learn from the past - both in Canada and around the world. Post WWII Sweden solved the same type of housing crisis in 10 years. There are already signs that we can do it, too, but it requires determination, will and government funding. Check out the article below. It is a lengthy read that is well worth it.

Maine’s housing crisis is complex, linked to decades of underproduction, population growth, and local policies. Solutions require multifaceted approaches and diverse projects to ensure housing options that meet the needs of all Mainers. The Portland Press Herald article by Eric Russell published Sunday, August 11 highlights some of the reasons affordable housing is a community issue across the state: https://lnkd.in/giZaKGdj Some highlights: Severe Housing Shortage: Maine is facing a significant housing crisis, with insufficient housing inventory to meet growing demand, leading to skyrocketing prices. Economic Disparity: Home prices have dramatically increased, outpacing income growth, making homeownership unattainable for many residents. Need for Diverse Housing Solutions: Experts emphasize the importance of developing a range of housing options, from high-density urban developments to the revitalization of underutilized buildings. Zoning and Regulatory Barriers: Restrictive zoning laws and lack of supportive infrastructure in communities can hinder the development of higher-density housing. State and Local Efforts: Our state government is making significant investments in housing, but faces challenges. Economic and Social Impact: The lack of affordable housing is exacerbating labor shortages and could lead to further economic and social challenges if not addressed. #AffordableHousing #CommunityDevelopment

"Our first-of-its-kind rent-to-own affordable housing program, developed with our member Cascadia Green Development, was featured in the The Vancouver Sun this weekend.   Mike Schilling, Community Savings CEO, said in the piece: “This one program — our one credit union, one developer, one city — is not going to solve the issue of housing affordability. But what we can do is we can demonstrate that this is a program that works for everybody. And we can challenge other lenders, other cities and other developers to follow suit." #socialpurpose #housingaffordability https://lnkd.in/gAe_sWDt.

Kyla Scanlon (who I think is generally credited with coining the term "vibecession") runs a great newsletter - and this morning's was a good read. The housing crises (me referring to Canada as well) are substantially due to policies and so the solutions have to be based in policy. Some jurisdictions are tackling this problem and meeting with success: (1) Montgomery County, Maryland - Government has gotten involved (profitably) with bidding on projects and is recognized as among the most successful/aggressive builders of affordable housing in the nation. (2) Austin, TX, where rents are down 7% due to zoning reform (upzoning - which means ending minimum parking requirements, eliminating single family zoning, allowing multiple homes on each residential lot, etc). (3) Burlington, VT, has just enacted similar changes to zoning - and we'll watch to see how that plays out! It's easy to pin the lack of supply on the great recession - but there's more to it than that. The good news is that most public policy experts are aligned with developers - zoning is one of the biggest problems - so when you say the solution is "policy based" - it doesn't mean more regulation or big government involvement. #realestate #housing

Interesting points in this article on well-intended regulation contributing to the lack of housing affordability. Here is my takeaway from decades of listening to home builders who care deeply about building quality homes and communities that last for many decades, while also making a reasonable profit margin for themselves. One national housing entitlement policy that covers the costs of reasonable local infrastructure improvements, and one national building code with regional variations for weather/environmental differences, with penalties for those who try to block it, would likely make a massive difference. There are just too many well-intended NIMBYs and lawyers who make housing expensive because local planning is so bad. One analogy of affordable success might be the auto industry. All cars pass reasonable national quality inspections, are driveable everywhere in the country, and their owners pay local taxes (often gas taxes) that cover the cost of needed road infrastructure. I am not a policy expert so maybe this is a bad idea. I would just love to see our home building clients have an easier time satisfying demand since I believe most people would benefit from that.

Accessible and attainable housing! Housing advocates we must change the message and communicate this better! Sessoms told the group that one of the first issues that needs to be addressed is the tone and tenor of the conversation around affordable housing. Several other members of the discussion agreed with Sessoms' assessment. Currently, he said, many people hear the term affordable housing and think of low-income or Section 8 housing. Instead, Sessoms said he prefers the term “accessible housing” – especially when it comes to the so-called “missing middle” housing, which refers to a range of housing types that fit between single-family detached homes and mid-to-high-rise apartment buildings. #attainablehousing #accessiblehousing

Americans are facing an intense housing crisis, with half of all renters dedicating 30% of their income just to cover rent. Soaring prices, dwindling vacancy rates, and a strained supply are driving the crisis to new heights. While local efforts like Mill Valley’s affordable housing project and New York’s subsidies offer some hope, they barely scratch the surface. Uncover how these initiatives and broader market trends are shaping the future of housing in the US. Click to read more on The Hype Economy. #HousingCrisis #RentalMarket #AffordableHousing #RealEstate #USHousing #RentStruggles #MarketTrends #HousingAffordability

📬 Today's Topic » Tim Lucas talks 10 Most Affordable Housing Markets in Minnesota. Read the full piece below

🏡 The housing crisis is brutal for renters and prospective buyers. What's the impact on business? "'I can’t tell you the number of employers who have hired someone who then (has) to back out because they can’t find an affordable place to live,' said Hentzel, the Portland chamber president. 'Maybe some places have properties or other resources, or can work in collaboration with developers,' she said. 'Businesses need to be a part of the solution. They can be a loud voice around advocacy for housing.'" Read the full article 🔗 https://buff.ly/4fJAp9s #housing #greatMEneighborhoods #affordablehousing