MidPen Housing Corporation’s Post

A few days ago, BAHFA (Bay Area Housing Finance Authority) made the difficult decision to remove Regional Measure 4 (RM4) from the November ballot. While this is not the outcome we were hoping for, it will not deter us from continuing our commitment to build more affordable housing. As disappointing as this is, the real disappointment is of the hundreds of thousands of people in our region who now must wait longer for the affordable housing solutions we need and deserve. This is why we must and will continue the fight.  Together with BAHFA and the coalition that spearheaded RM4, all our industry partners, the mission-driven developers who transform lives with each home that they complete, and the advocates and supporters of affordable, dignified housing – we will not be defeated. We are in this for the long-term. We all need to focus now on the Statewide Proposition 5 campaign that sets a 55% voter threshold for affordable housing and public infrastructure bonds. This campaign will need our coalition – and your support – to play a critical role. Like we said, we are not giving up. We want to sincerely thank the coalition for their commitment and all that they have done to build this momentum. We will continue together because our neighbors need us. Stay tuned for more information on how you can help.  Metropolitan Transportation Commission All Home Enterprise Community Partners Non-Profit Housing Association of Northern California (NPH) San Francisco Foundation 

Affordable housing is a vehicle for neighborhood revitalization, but why are affordable housing development projects so expensive? A recent Crain's Chicago Business piece unpacks the nuances of the federal tax credit system, capital stacks, and rising construction costs, all of which contribute to the high cost of affordable housing projects. While #nonprofits like LUCHA, a Stronger Nonprofits Initiative participant, find ways to navigate the affordable housing system, there's an opportunity for public-private partnerships to better support these much needed projects. Learn more about the high cost of affordable housing here: https://lnkd.in/djsR6u9p

~What the Federal Budget means for Perth property~ Federal Treasurer Jim Chalmers handed down his budget this week, with a clear focus on cost-of-living measures and property in the face of a challenging economic climate. A shortfall in housing supply, resulting in mounting pressures on the market was something the government was keen to address. A key target of the 2024-25 Budget is to build 1.2 million new, well-located homes over the next five years, to support our growing population and make it easier for Australians to buy or rent a home. The budget has also allocated an extra $1 billion for states and territories to use for the Housing Support Program. This will be spent on essential infrastructure such as water, power, sewerage and roads, allowing more new housing to be built, and is in addition to the $500 million the government has already committed. An additional $1.9 billion was earmarked for the Housing Australia Future Fund and the National Housing Accord, in the form of concessional loans to charities and community housing providers to support the delivery of new social and affordable homes, and $423 million to support social housing and homelessness services. And for local buyers and investors, the tax cuts beginning in the 2024-25 financial year should mean a boost to their borrowing power, helping them purchase the property they want, sooner. So, what does all this mean for Perth property? At CY, we believe the impact of the budget will be positive – it should boost investment and construction and get more people back into the market. If you’d like to have a chat about navigating your next move, please don’t hesitate to give us a call.

He actually said the line...I'm here from the government, I'm here to help. "According to the government, the fund will provide $1 billion in loans and $470 million in contributions to non-profit organizations, community housing providers, and other partners to help buy affordable rental buildings that go up for sale. Also used the scary words speculators (there are speculators on both sides of any trade) and "large corporations". And heaven forbid, more condos get built given he just admitted that the population increase has been way too rapid. "...others were bought by owners who renovated and "jacked up" rent, pricing tenants out." Gee, why were owners forced to increase rent? Maybe their mortgages skyrocketed thanks to massive inflation and the BoC not seeing it coming until too late. Once again, this government is here to solve a problem they are 100% responsible for with a solution that is going to make things much, much worse. "We need more affordable housing buildings just like this one, right across the country," Trudeau said, speaking at an affordable housing complex in Winnipeg. "Unfortunately, too many of those places are under constant threat of being demolished to build condos, or sold to speculators and large corporations that will increase rents at turnover. People are being priced out of their communities, and that's not OK so we have to help."  https://lnkd.in/gJQPqcWu

Democrats Failed Housing Policies That Have Resulted In Skyrocketing Home Prices Which Started Under Obama/Biden and continued under Biden/Harris Have Destroyed The Opportunity Of Homeownership For Millions Of Poor and Moderate Income American Families Restore The Promise Of The American Dream PAC Inc https://lnkd.in/eZNwh93w JOIN Our campaign to End The democrat party WAR homeownership! we have an obligation to restore the PROMISE OF THE AMERICAN DREAM for next generation! According to a 2024 report from the National Association of Home Builders, 19.1% of young adults aged 25–34 live with their parents and in-laws. A 2024 report from CNBC states that 31% of Gen Z adults are living with their parents because they can't afford to buy or rent their own space. “We have to restore the promise of the AMERICAN DREAM,' Walters said from the steps of the Tuscaloosa County courthouse. 'This is the first time in our country we are in a position where we could leave the country worse off for the next generation, and this has to be reversed." (Eddison Walters 2009) The greatest transfer of real estate wealth in history of our country started by housing policies under Obama/Biden Administration and continued by Biden/Harris Administration. Funding was directed away from affordable homeownership under failed Democrat housing policies. The failed Democrat housing policies resulting in record housing cost for low and moderate income hardworking Americans families who historically supported Democrats. Homeownership is out of reach for many hardworking American Families today, because Democrats based housing policies on political calculation that directed funding to change zoning laws benefit wealthy multi-family apartment landlords building high rental units in the suburbs as the Democrat Party focused on turn Republican Congressional Districts in the suburbs blue to maintain control of Congress. Young Americans and minority voters in metropolitan areas most likely to support Democrats have suffered the most under the failed Democrat housing policies. How Obama Destroyed Black Wealth BY MATT BRUENIG RYAN COOPER “The Obama presidency was a disaster for middle-class wealth in the United States. Between 2007 and 2016, the average wealth of the bottom 99 percent dropped by $4,500. Over the same period, the average wealth of the top 1 percent rose by $4.9 million. This drop hit the housing wealth of African Americans particularly hard. Outside of home equity, black wealth recovered its 2007 level by 2016. But average black home equity was still $16,700 lower. Much of this decline, we will argue, can be laid at the feet of President Obama. His housing policies led directly to millions of families losing their homes. What’s more, Obama had the power — money, legislative tools, and legal leverage — to sharply ameliorate the foreclosure crisis” https://lnkd.in/eQ_4gjfR

Can you imagine what a nightmare waste of money the proposed housing bill by Rep. Alexandria Ocasio-Cortez and Sen. Tina Smith would be? It would create a national housing development authority, acquire property, build social housing, or help other entities (nonprofits, community land trusts, etc.) do so. After seeing the complete waste of $42.45B that was allocated for the BEAD program to bring high-speed Internet access to rural areas three years ago but to date, not a single person has been connected, how can anyone believe that this program with significantly more complexity build even one home or apartment building? According to the specifics of this proposed bill, social housing providers would have to set aside at least 70% of the units for low-income and extremely low-income households, with at least 40 percent dedicated to the latter. Initial rents would be capped at 25 percent of income. Let's see how that pencils...

California's Top Three Housing Bills to Track for 2024! SB 4, allows religious institutions and non-profit colleges to construct housing without having to go through the process of re-zoning. This could potentially help in creating more affordable housing options. SB 423, expands and extends eligibility for SB 35, which is all about streamlined entitlement. This means that more projects may now qualify for this convenient process. AB 1633 addresses the issue of CEQA determination delays for infill projects. It does so by introducing a cause of action and liabilities under the Housing Accountability Act. This step might help in speeding up the process and ensuring smoother progress for such projects. https://lnkd.in/gnTYsDjP

Understanding Affordable Housing: Key Programs Every Manager Should Know Affordable housing remains a critical issue in the United States, impacting numerous families and individuals. As a housing manager, it is crucial to be well-versed in the types of affordable housing programs available. Discover 8 types of affordable housing programs that every manager needs to know, each designed to provide essential support to communities in need. From government subsidies to nonprofit initiatives, these programs play a vital role in ensuring safe and affordable living conditions. Learn more about how you can make a difference by understanding these essential programs. https://lnkd.in/drGWTKB3

https://lnkd.in/eJ9X6pjz Voters in PA01 and in PA, did your US Congressman just bring "Charity" to your county before the April 23, 2024 Primary? I'm sure they did. Congressman Brian Fitzpatrick did to the tune of $20 Million dollars. Can anyone show me where in the US Constitution CHARITY is an enumerated power? 🤔 It is NOT an enumerated power yet he chose to pick a few "projects" to fund using TAX Payer monies which is a direct usurpation of the Constitution and the oath of office he was elected to represent. Do you know this? 🤔 If not, reread Article 1 Section 8 and there you will find 17 enumerated powers. Colonel David Crockett learned a harsh lesson in 1884 when he went to get reelected by a self described backwoods farmer. When Col. Crockett asked for his vote in the new election, the farmer told him "no", despite voting for him prior. Col. Crockett was astounded and asked why. The farmer busy at work really didn't have time to explain it, but he took the time because Col. Crockett was insistent. Long story short, Colonel David Crockett learned that “The people have delegated to Congress, by the Constitution, the power to do certain things. To do these, it is authorized to collect and pay money, and for nothing else. Everything beyond this is usurpation, and a violation of the Constitution.” Outside of fixing Route 1 which could be considered a "postal road" under Article 1 Sect. 8, Rep. Fitzpatrick added more DEBT to the taxpayers of the USA. I'm not sure tax payers in West Virginia are mad or should be because adding "streetscaping" to a street in Bristol PA (not picking on my friends in Bristol) is Charity, not a general welfare nor a military enumerated power, but their cost per taxpayer just went up because Congressman Fitzpatrick added PORK - or like congress says "non-discretionary" funding to the recent passing of the appropriations bill so that we "dont' shut down the government" on March 22, 2024. If Rep. Fitzpatrick added $20 Million in PORK - what did the other 534 Congressman and Senators add to the debt - the national debt is is $34.6 Trillion as of now. Voters in PA - it's time to RETIRE all Congressmen who violate their oath of office which is ENUMERATED in power according to the US Constitution if you still believe America is great because of it. #FireBrianFitzpatrick in #PA01 on April 23, 2024. You have a choice #HouckforCongress Shared on my linkedin page - if you're on linkedin a like and share are appreciated.