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YIMBY? Ben Carson, Trump’s Affordable Housing Secretary Pitches Affordable-Housing Strategy

This just in from Colorado Politics. Ben Carson, is pitching a new affordable-housing strategy – YIMBY-ism as opposed to NIMBY-ism.

“That is, he’s aiming to encourage people to say “Yes in My Back Yard,” instead of “Not in My Back Yard,” or NIMBYism, as its known.

In recent weeks, the secretary of Housing and Urban Development has embraced YIMBYism and called for the federal government to promote it, surprising agency watchers and urbanists and pleasing the bipartisan coalition of reformers who believe that restrictive zoning and land-use regulations are to blame for the rental crisis afflicting the nation and closing off some cities to the middle class.”

Read the rest here.

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Is it time for the ‘Rise of Renters?’

According to Marketplace: yes.

“Homeownership may be a key part of the American Dream, but rentership (yes, that’s a word) has become the norm in more of our cities since the financial crisis. In 2016 renters outnumbered homeowners in 47 percent of major cities, up from 21 percent in 2006, according to a new analysis from APM Research Lab.”

Read the full article on Marketplace here.

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Hot Housing Markets Like Denver, San Jose and Seattle Are Cooling

According to the Home Buying Institute, housing markets in cities like Denver, San Jose, and Seattle are cooling off.

“A recent report showed that some of the nation’s hottest housing markets are beginning to slow down. Slower home sales have been reported in housing markets like Denver, Oakland, Seattle and San Jose.

But despite this trend, the latest real estate forecasts suggest that home prices in most of these “cooling” markets will continue to climb in 2019.”

Read the full article here.

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Multifamily Industry Experts Visit Capitol Hill for Regulatory Reform

Multifamily industry heads met with members of Congress to hash out regulatory burdens and affordability last week.

The National Multifamily Housing CouncilNational Apartment AssociationGables Residential CEO Sue Ansel and other multifamily industry leaders gathered on Capitol Hill to seek solutions to regulatory burdens imposed at the local, state and federal levels, as well as potential solutions for the housing shortage fueling the affordability crisis.

Ansel told HousingWire that she was very impressed with the bipartisan nature of the committee and its receptiveness to the discussion.

Source: Housing Wire

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Multifamily Parking Ratios Lowest Since 1960s

According to a study from the National Apartment Association, over the last decade, the average parking ratio per unit dropped to 1.46, the lowest it has been since the 1960s.

Part of this shift is a decrease in car ownership among renters ages 15 to 34. From its peak in 2009 to 2016, the percentage of renters ages 15 to 34 who owned a car decreased from 33.7% to 30.7%.

Source: Housing Wire

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How Washington Could Actually Make Housing More Affordable

A new article from CCN discusses possible solutions to rising housing costs such as increasing funding for federal housing subsidies, discouraging local 0ver-regulation in markets like San Francisco, or decreasing the cost of construction.

Source: CNN Money

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Possible Repeal of Rent Control Limitations Not Just a California Issue, It’s a National Issue

“If California voters decide to repeal the Costa-Hawkins Rental Housing Act, an action that would expand the use of rent control in the state, it could have serious ramifications on future multifamily construction and development in the state and set a precedent for other states and cities weighing rent control nationwide.”

Source: Bisnow

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We can’t reduce housing costs by wishing for rent control

SACRAMENTO — The term “magical thinking” describes people who believe, as one psychology related website puts it, “that one’s own thoughts, wishes or desires can influence the external world.” It’s the idea that if we wish for something hard enough it might actually come true. It’s become a fixture in California’s political world, especially as it relates to the problem of high housing prices.

Read more at The Orange County Register.

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Freddie Mac: For Many Renting Is A Strategic Choice

“These changing perceptions, combined with rising rents and tightening supply of affordable housing, are likely to fuel continued multifamily market growth in the years ahead.”

Read more at GlobeSt.com.

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Rent Is Affordable to Low-Wage Workers in Exactly 12 U.S. Counties

For millions of Americans, housing costs are perversely mismatched to hourly wages. In 2017, the average U.S. worker would need to bring in a whopping $21.21 per hour to reasonably afford a modest two-bedroom apartment. That’s nearly three times the federal minimum wage of $7.25, and roughly 30 percent more than the $16.38 hourly wage that the average U.S. renter brings home.

Read more at CityLab.